What changed in this filing

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Item 1. Financial Statements

2020-11-04 compared with 2020-08-07 · 241 added, 183 removed, 758 unchanged (36% of the section changed)

3 unchanged sentences

(In thousands, except for share and per share data)

June 30, 2020 December 31, 2019

September 30, 2020 December 31, 2019

Real estate investments:

28 unchanged sentences

1,000,000,000 shares authorized;

218,514,870 and 216,453,312 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively

218,566,057 and 216,453,312 shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively

Additional paid-in capital 4,914,767 4,854,042

9 unchanged sentences

(In thousands, except for per share data)

Three Months Ended June 30, Six Months Ended June 30,

Three Months Ended September 30, Nine Months Ended September 30,

2020 2019 2020 2019

11 unchanged sentences

Gain (loss) on sale of real estate, net — — 1,991 ( 37 )

Loss on extinguishment of debt, net ( 27,726 ) ( 21,646 ) ( 27,726 ) ( 21,646 )

Income from unconsolidated joint venture 422 422 1,223 1,456

Other income 117 205 290 781

Net income $ 13,725 $ 16,598 $ 31,933 $ 30,299

Net income attributable to noncontrolling interests (1)

Net (loss) income $ ( 6,932 ) $ ( 8,577 ) $ 25,001 $ 21,722

Net loss (income) attributable to noncontrolling interests (1)

105 114 ( 438 ) ( 486 )

Net income attributable to common stockholders $ 13,489 $ 16,259 $ 31,390 $ 29,699

Net (loss) income attributable to common stockholders $ ( 6,827 ) $ ( 8,463 ) $ 24,563 $ 21,236

Earnings per common share - basic:

Net income attributable to common stockholders

$ 0.06 $ 0.08 $ 0.14 $ 0.14

Net (loss) income attributable to common stockholders $ ( 0.03 ) $ ( 0.04 ) $ 0.11 $ 0.10

Earnings per common share - diluted:

Net income attributable to common stockholders

$ 0.06 $ 0.08 $ 0.14 $ 0.14

Net (loss) income attributable to common stockholders $ ( 0.03 ) $ ( 0.04 ) $ 0.11 $ 0.10

Weighted average common shares outstanding:

1 unchanged sentence

Diluted 218,549 205,277 221,521 209,026

(1) Includes amounts attributable to redeemable noncontrolling interests for the three and six months ended June 30, 2019.

(1) Includes amounts attributable to redeemable noncontrolling interests for the nine months ended September 30, 2019.

The accompanying notes are an integral part of these condensed consolidated financial statements.

HEALTHCARE TRUST OF AMERICA, INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(In thousands)

Three Months Ended June 30, Six Months Ended June 30,

2020 2019 2020 2019

Net income $ 13,725 $ 16,598 $ 31,933 $ 30,299

Other comprehensive loss

Change in unrealized losses on cash flow hedges

( 3,228 ) ( 381 ) ( 25,726 ) ( 771 )

Total other comprehensive loss ( 3,228 ) ( 381 ) ( 25,726 ) ( 771 )

Total comprehensive income 10,497 16,217 6,207 29,528

Comprehensive income attributable to noncontrolling interests

( 184 ) ( 294 ) ( 131 ) ( 519 )

Total comprehensive income attributable to common stockholders

Three Months Ended September 30, Nine Months Ended September 30,

2020 2019 2020 2019

Net (loss) income $ ( 6,932 ) $ ( 8,577 ) $ 25,001 $ 21,722

Other comprehensive income (loss)

Change in unrealized gains (losses) on cash flow hedges 2,054 2,290 ( 23,672 ) 1,519

Total other comprehensive income (loss) 2,054 2,290 ( 23,672 ) 1,519

Total comprehensive (loss) income ( 4,878 ) ( 6,287 ) 1,329 23,241

Comprehensive loss (income) attributable to noncontrolling interests 73 71 ( 59 ) ( 448 )

Total comprehensive (loss) income attributable to common stockholders $ ( 4,805 ) $ ( 6,216 ) $ 1,270 $ 22,793

The accompanying notes are an integral part of these condensed consolidated financial statements.

34 unchanged sentences

205,118 2,051 4,521,103 ( 449 ) ( 1,369,763 ) 3,152,942 78,060 3,231,002

Issuance of common stock

1,840 19 51,785 — — 51,804 — 51,804

Issuance of limited partner OP Units in connection with acquisitions

— — — — — — 2,000 2,000

Share-based award transactions, net

31 — 2,337 — — 2,337 — 2,337

Repurchase and cancellation of common stock

( 2 ) — ( 65 ) — — ( 65 ) — ( 65 )

Redemption of noncontrolling interest and other

199 2 6,016 — — 6,018 ( 5,951 ) 67

Dividends declared ($ 0.315 per common share)

— — — — ( 65,134 ) ( 65,134 ) ( 1,255 ) ( 66,389 )

— — — — ( 8,463 ) ( 8,463 ) ( 114 ) ( 8,577 )

Other comprehensive income

— — — 2,247 — 2,247 43 2,290

Balance as of September 30, 2019

207,186 $ 2,072 $ 4,581,176 $ 1,798 $ ( 1,443,360 ) $ 3,141,686 $ 72,783 $ 3,214,469

HEALTHCARE TRUST OF AMERICA, INC.

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Cont'd)

(In thousands)

Class A Common Stock Additional Paid-In Capital Accumulated Other Comprehensive Income (Loss) Cumulative Dividends in Excess of Earnings Total Stockholders’ Equity Noncontrolling Interests Total Equity

31 unchanged sentences

218,515 2,185 4,912,419 ( 20,768 ) ( 1,609,048 ) 3,284,788 63,976 3,348,764

Share-based award transactions, net

28 1 1,831 — — 1,832 — 1,832

Repurchase and cancellation of common stock

( 11 ) — ( 296 ) — — ( 296 ) — ( 296 )

Redemption of noncontrolling interest and other

34 — 813 — — 813 ( 813 ) —

Dividends declared ($ 0.320 per common share)

— — — — ( 69,938 ) ( 69,938 ) ( 1,133 ) ( 71,071 )

Net loss — — — — ( 6,827 ) ( 6,827 ) ( 105 ) ( 6,932 )

Other comprehensive income

— — — 2,021 — 2,021 33 2,054

Balance as of September 30, 2020

218,566 $ 2,186 $ 4,914,767 $ ( 18,747 ) $ ( 1,685,813 ) $ 3,212,393 $ 61,958 $ 3,274,351

The accompanying notes are an integral part of these condensed consolidated financial statements.

2 unchanged sentences

(In thousands)

Six Months Ended June 30,

Nine Months Ended September 30,

Cash flows from operating activities:

7 unchanged sentences

(Gain) loss on sale of real estate, net ( 1,991 ) 37

Loss on extinguishment of debt, net 27,726 21,646

Changes in operating assets and liabilities:

14 unchanged sentences

Payments on unsecured revolving credit facility ( 1,429,862 ) ( 350,000 )

Proceeds from unsecured senior notes 793,568 906,927

Payments on unsecured senior notes ( 300,000 ) ( 700,000 )

Payments on secured mortgage loans ( 114,060 ) ( 96,765 )

Deferred financing costs ( 6,532 ) ( 6,954 )

Debt extinguishment costs ( 25,938 ) ( 18,383 )

Proceeds from issuance of common stock 50,020 51,804

3 unchanged sentences

Distributions paid to noncontrolling interest of limited partners ( 3,581 ) ( 7,503 )

Net cash used in financing activities ( 25,111 ) ( 118,436 )

Net cash provided by (used in) financing activities 83,881 ( 58,886 )

Net change in cash, cash equivalents and restricted cash 193,630 ( 115,714 )

5 unchanged sentences

(In thousands, except unit data)

June 30, 2020 December 31, 2019

September 30, 2020 December 31, 2019

Real estate investments:

24 unchanged sentences

Partners’ Capital:

Limited partners’ capital, 3,568,369 and 3,834,279 units issued and outstanding

as of June 30, 2020 and December 31, 2019, respectively

Limited partners’ capital, 3,533,826 and 3,834,279 OP Units issued and outstanding as of September 30, 2020 and December 31, 2019, respectively

61,688 72,365

General partners’ capital, 218,514,870 and 216,453,312 units issued and outstanding as of June 30, 2020 and December 31, 2019, respectively

General partners’ capital, 218,566,057 and 216,453,312 OP Units issued and outstanding as of September 30, 2020 and December 31, 2019, respectively

3,212,663 3,358,279

5 unchanged sentences

(In thousands, except per unit data)

Three Months Ended June 30, Six Months Ended June 30,

Three Months Ended September 30, Nine Months Ended September 30,

2020 2019 2020 2019

10 unchanged sentences

Gain (loss) on sale of real estate, net — — 1,991 ( 37 )

Loss on extinguishment of debt, net ( 27,726 ) ( 21,646 ) ( 27,726 ) ( 21,646 )

Income from unconsolidated joint venture 422 422 1,223 1,456

Other income 117 205 290 781

Net income $ 13,725 $ 16,598 $ 31,933 $ 30,299

Net (loss) income $ ( 6,932 ) $ ( 8,577 ) $ 25,001 $ 21,722

Net income attributable to noncontrolling interests

— ( 38 ) — ( 66 )

Net income attributable to common unitholders $ 13,725 $ 16,560 $ 31,933 $ 30,233

Net (loss) income attributable to common unitholders $ ( 6,932 ) $ ( 8,577 ) $ 25,001 $ 21,656

Earnings per common OP Unit - basic:

Net income attributable to common unitholders

$ 0.06 $ 0.08 $ 0.14 $ 0.14

Net (loss) income attributable to common unitholders $ ( 0.03 ) $ ( 0.04 ) $ 0.11 $ 0.10

Earnings per common OP Unit - diluted:

Net income attributable to common unitholders

$ 0.06 $ 0.08 $ 0.14 $ 0.14

Net (loss) income attributable to common unitholders $ ( 0.03 ) $ ( 0.04 ) $ 0.11 $ 0.10

Weighted average common OP Units outstanding:

3 unchanged sentences

HEALTHCARE TRUST OF AMERICA HOLDINGS, LP

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(In thousands)

Three Months Ended June 30, Six Months Ended June 30,

2020 2019 2020 2019

Net income $ 13,725 $ 16,598 $ 31,933 $ 30,299

Other comprehensive loss

Change in unrealized losses on cash flow hedges

Three Months Ended September 30, Nine Months Ended September 30,

2020 2019 2020 2019

Total other comprehensive loss ( 3,228 ) ( 381 ) ( 25,726 ) ( 771 )

Total comprehensive income 10,497 16,217 6,207 29,528

Net (loss) income $ ( 6,932 ) $ ( 8,577 ) $ 25,001 $ 21,722

Other comprehensive income (loss)

Change in unrealized gains (losses) on cash flow hedges 2,054 2,290 ( 23,672 ) 1,519

Total other comprehensive income (loss) 2,054 2,290 ( 23,672 ) 1,519

Total comprehensive (loss) income ( 4,878 ) ( 6,287 ) 1,329 23,241

Comprehensive income attributable to noncontrolling interests

— ( 38 ) — ( 66 )

Total comprehensive income attributable to common unitholders

$ 10,497 $ 16,179 $ 6,207 $ 29,462

Total comprehensive (loss) income attributable to common unitholders $ ( 4,878 ) $ ( 6,287 ) $ 1,329 $ 23,175

The accompanying notes are an integral part of these condensed consolidated financial statements.

29 unchanged sentences

Balance as of June 30, 2019 205,118 3,153,212 3,975 77,790 3,231,002

Issuance of general partner OP Units

1,840 51,804 — — 51,804

Issuance of limited partner OP Units in connection with acquisitions

— — 72 2,000 2,000

Share-based award transactions, net

31 2,337 — — 2,337

Redemption and cancellation of general partner OP Units

( 2 ) ( 65 ) — — ( 65 )

Redemption of limited partner OP Units and other

199 6,018 ( 199 ) ( 5,951 ) 67

Distributions declared ($ 0.315 per common OP Unit)

— ( 65,134 ) — ( 1,255 ) ( 66,389 )

Net loss — ( 8,463 ) — ( 114 ) ( 8,577 )

Other comprehensive income — 2,247 — 43 2,290

Balance as of September 30, 2019 207,186 $ 3,141,956 3,848 $ 72,513 $ 3,214,469

HEALTHCARE TRUST OF AMERICA HOLDINGS, LP

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN PARTNERS ’ CAPITAL

(In thousands)

General Partners’ Capital Limited Partners’ Capital Total Partners’ Capital

29 unchanged sentences

Balance as of June 30, 2020 218,515 3,285,058 3,568 63,706 3,348,764

Share-based award transactions, net

28 1,832 — — 1,832

Redemption and cancellation of general partner OP Units

( 11 ) ( 296 ) — — ( 296 )

Redemption of limited partner OP Units and other

34 813 ( 34 ) ( 813 ) —

Distributions declared ($ 0.320 per common OP Unit)

— ( 69,938 ) — ( 1,133 ) ( 71,071 )

— ( 6,827 ) — ( 105 ) ( 6,932 )

Other comprehensive income

— 2,021 — 33 2,054

Balance as of September 30, 2020 218,566 $ 3,212,663 3,534 $ 61,688 $ 3,274,351

The accompanying notes are an integral part of these condensed consolidated financial statements.

2 unchanged sentences

(In thousands)

Six Months Ended June 30,

Nine Months Ended September 30,

Cash flows from operating activities:

7 unchanged sentences

(Gain) loss on sale of real estate, net ( 1,991 ) 37

Loss on extinguishment of debt, net 27,726 21,646

Changes in operating assets and liabilities:

14 unchanged sentences

Payments on unsecured revolving credit facility ( 1,429,862 ) ( 350,000 )

Proceeds from unsecured senior notes 793,568 906,927

Payments from unsecured senior notes ( 300,000 ) ( 700,000 )

Payments on secured mortgage loans ( 114,060 ) ( 96,765 )

Deferred financing costs ( 6,532 ) ( 6,954 )

Debt extinguishment costs ( 25,938 ) ( 18,383 )

Proceeds from issuance of general partner units 50,020 51,804

52 unchanged sentences

common stock is recorded as a component of equity.

As of June 30, 2020 and December 31, 2019, there were approximately 3.6 million and 3.8 million, respectively, of OP Units issued and outstanding held by noncontrolling interest holders.

As of September 30, 2020 and December 31, 2019, there were approximately 3.5 million and 3.8 million, respectively, of OP Units issued and outstanding held by noncontrolling interest holders.

VIEs are entities where investors lack sufficient equity at risk for the entity to finance its activities without additional subordinated financial support or where equity investors, as a group, lack one of the following:

22 unchanged sentences

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the accompanying condensed consolidated balance sheets to the combined amounts shown on the accompanying condensed consolidated statements of cash flows (in thousands):

September 30,

Cash and cash equivalents $ 227,138 $ 12,748

15 unchanged sentences

Investments in Real Estate

Depreciation expense of buildings and improvements for the three months ended June 30, 2020 and 2019 was $ 58.2 million and $ 51.9 million, respectively.

Depreciation expense of buildings and improvements for the six months ended June 30, 2020 and 2019 was $ 117.1 million and $ 104.0 million, respectively.

Depreciation expense of buildings and improvements for the three months ended September 30, 2020 and 2019 was $ 59.2 million and $ 54.9 million, respectively.

Depreciation expense of buildings and improvements for the nine months ended September 30, 2020 and 2019 was $ 176.4 million and $ 158.9 million, respectively.

As a lessor, we lease space in our MOBs primarily to medical enterprises for terms generally ranging from three to seven years in length.

11 unchanged sentences

The Lease Modification Q&A allows us, if certain criteria have been met, to bypass the lease by lease analysis, and instead elect to either apply the lease modification accounting framework or not, with such election applied consistently to leases with similar characteristics and similar circumstances.

We have elected to apply such relief and will use the election to avoid performing a lease by lease analysis where conditions warrant in conformity with this guidance.

The Lease Modification Q&A had no material impact on our condensed consolidated financial statements as of and for the three and six months ended June 30, 2020, however, its future impact to us is dependent upon the extent of lease concessions granted to tenants as a result of the COVID-19 pandemic in future periods and the elections made by us at the time of entering into any such concessions.

For the three and six months ended June 30, 2020, changes to our leases as a result of COVID-19 have been in two categories.

In conformity with this guidance, we have elected to apply such relief and will use the election so as not to perform a lease by lease analysis where conditions warrant.

The Lease Modification Q&A had no material impact on our condensed consolidated financial statements as of and for the three and nine months ended September 30, 2020, however, its future impact to us is dependent upon the extent of lease concessions granted to tenants as a result of the COVID-19 pandemic in future periods and the elections made by us at the time of entering into any such concessions.

For the three and nine months ended September 30, 2020, changes to our leases as a result of COVID-19 have been in two categories.

Leases are categorized based upon the impact of the modification on its cash flows.

One category is rent deferrals for which the guidance above was utilized, which provided relief from requiring a lease by lease analysis pursuant to Topic 842.

These deferrals are generally for up to three months rent with a payback period from three to twelve months once the deferral period has ended.

These deferrals are generally for up to three months of rent with a payback period from three to twelve months once the deferral period has ended.

Deferrals do not have an impact on cash flows over the lease term, rather, payments are made in different periods while the cash flows for the entirety of the lease term are the same.

However, we have continued to recognize revenue and straight line revenue for amounts subject to deferral agreements in accordance with Topic 842.

Through July 31, 2020, we have approved deferral plans that total approximately $ 9.6 million, which includes approximately $ 6.6 million of rent that was deferred in the three and six months ended June 30, 2020.

In total, we have approved deferral plans that total approximately $ 11.0 million, of which approximately $ 3.7 million have been repaid through October 28, 2020.

The second category is early renewals, where the Company renewed lease arrangements prior to their contractual expirations, providing concession at the commencement of the lease in exchange for additional term, on average approximately three years.

This category is treated as a modification under Topic 842, with the existing balance of cumulative difference between rental income and payment amounts (existing straight line rent receivable) being recast over the new term, factoring in any changes attributable to the new lease arrangement and for which we performed a lease by lease analysis.

Cash flows are impacted over the long term as customary free rent, at an average of three months in conjunction with these agreements, is offset by substantively more term and/or increased rental rates.

Subsequent to June 30, 2020, and through July 31, 2020 the Company has entered into minimal new deferral arrangements or early renewal leases with substantive amounts of free rent or other forms of concession at the onset of the lease.

Cash flows are impacted over the long term as customary free rent, at an average of three months in conjunction with these agreements, and is offset by substantively more term and/or increased rental rates.

Subsequent to September 30, 2020, and through October 31, 2020, the Company has entered into minimal new deferral arrangements or early renewal leases with substantive amounts of free rent or other forms of concession at the onset of the lease.

Credit Losses

2 unchanged sentences

Pursuant to the guidance, we adopted a policy to book current expected credit losses at the inception of loans qualifying for treatment under Topic 326.

During the six months ended June 30, 2020 , we financed a one -year, $ 6 million loan to which we hold a first trust deed in the underlying property as collateral.

Given the one -year term, management's estimated loan-to-value at inception, and estimated probability of default, we

During the nine months ended September 30, 2020 , we financed as the lender, a one-yea r, $ 6 million loan to which we hold a first trust deed in the underlying

HEALTHCARE TRUST OF AMERICA, INC.

AND HEALTHCARE TRUST OF AMERICA HOLDINGS, LP NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (Continued)

determined that any current expected credit loss would be insignificant.

In addition, as of June 30, 2020, we believe that our initial assumptions have not appreciably changed and continue to not record any expected losses.

property as collateral.

Given the one-yea r term, management's estimated loan-to-value at inception, and estimated probability of default, we determined that any current expected credit loss would be insignificant.

In addition, as of September 30, 2020, we believe that our initial assumptions have not substantively changed and, accordingly, we continue to not record any expected losses.

Redeemable Noncontrolling Interests

2 unchanged sentences

The last exercisable put option lapsed on June 30, 2019, and, at that time, all holders of redeemable noncontrolling interests had either converted their interest to OP Units or received cash proceeds.

For the three and six months ended June 30, 2019, we recognized $ 38 thousand and $ 66 thousand, respectively, of income related to the noncontrolling interests in the net income attributable to noncontrolling interests in our accompanying condensed consolidated statements of operations.

For the nine months ended September 30, 2019, we recognized $ 66 thousand of income related to the noncontrolling interests in the net income attributable to noncontrolling interests in our accompanying condensed consolidated statements of operations.

Unconsolidated Joint Ventures

1 unchanged sentence

Using the equity method of accounting, the initial investment is recognized at cost and subsequently adjusted for our share of the net income and any distributions from the joint venture.

As of June 30, 2020 and December 31, 2019, we had a 50 % interest in one such investment with a carrying value and maximum exposure to risk of $ 65.1 million and $ 65.9 million, respectively, which is recorded in investment in unconsolidated joint venture on the accompanying condensed consolidated balance sheets.

As of September 30, 2020 and December 31, 2019, we had a 50 % interest in one such investment with a carrying value and maximum exposure to risk of $ 64.8 million and $ 65.9 million, respectively, which is recorded in investment in unconsolidated joint venture on the accompanying condensed consolidated balance sheets.

We record our share of net income in income from unconsolidated joint venture on the accompanying condensed consolidated statements of operations.

For the three months ended June 30, 2020 and 2019, we recognized income of $ 0.4 million and $ 0.5 million, respectively.

For the six months ended June 30, 2020 and 2019, we recognized income of $ 0.8 million and $ 1.0 million, respectively.

For both the three months ended September 30, 2020 and 2019, we recognized income of $ 0.4 million.

For the nine months ended September 30, 2020 and 2019, we recognized income of $ 1.2 million and $ 1.5 million, respectively.

Recently Issued or Adopted Accounting Pronouncements

24 unchanged sentences

and (ii) for Level 3 fair value measurements in the table of significant input, disclose the range and weighted average of the significant unobservable inputs and the way it is calculated.

We adopted ASU 2018-13 as of January 1, 2020 and as of June 30, 2020 there were no transfers between levels and no Level 3 inputs for the period.

We adopted ASU 2018-13 as of January 1, 2020 and as of September 30, 2020 there were no transfers between levels and no Level 3 inputs for the period.

Refer to Note 12 - Fair Value of Financial Instruments in the accompanying notes to the condensed consolidated financial statements for more detail relating to our fair value disclosures.

10 unchanged sentences

Investments in Real Estate

For the six months ended June 30, 2020, our investments had an aggregate purchase price of $ 41.7 million.

For the nine months ended September 30, 2020, our investments had an aggregate purchase price of $ 52.9 million.

As part of these investments, we incurred approximately $ 0.3 million of capitalized costs.

The allocations for these investments, in which we own a controlling financial interest, are set forth below in the aggregate for the six months ended June 30, 2020 and 2019, respectively (in thousands):

Six Months Ended June 30,

The allocations for these investments, in which we own a controlling financial interest, are set forth below in the aggregate for the nine months ended September 30, 2020 and 2019, respectively (in thousands):

Nine Months Ended September 30,

Land $ 2,817 $ 33,408

3 unchanged sentences

Above market leases 479 2,046

Below market leasehold interests ( 242 ) —

Net real estate assets acquired 52,553 225,308

1 unchanged sentence

Aggregate purchase price $ 52,887 $ 229,851

The acquired intangible assets and liabilities referenced above had weighted average lives of the following terms for the six months ended June 30, 2020 and 2019, respectively (in years):

Six Months Ended June 30,

The acquired intangible assets and liabilities referenced above had weighted average lives of the following terms for the nine months ended September 30, 2020 and 2019, respectively (in years):

Nine Months Ended September 30,

Acquired intangible assets 5.1 5.6

1 unchanged sentence

Dispositions and Impairment

During the six months ended June 30, 2020, we sold part of our interest in undeveloped land in Miami, Florida for a gross sales price of $ 7.6 million, resulting in a net gain of approximately $ 2.0 million.

During the six months ended June 30, 2019, we completed the disposition of three MOB's in Hilton Head, South Carolina for a gross sales price of $ 1.2 million, resulting in a net loss of $ 37 thousand.

During the six months ended June 30, 2020, and 2019, respectively, we recorded no impairment charges after the consideration of the impacts, on a qualitative and quantitative basis, of the ongoing COVID-19 pandemic in our quarterly assessment.

During the nine months ended September 30, 2020, we sold part of our interest in undeveloped land in Miami, Florida for a gross sales price of $ 7.6 million, resulting in a net gain of approximately $ 2.0 million.

During the nine months ended September 30, 2019, we completed the disposition of three MOB's in Hilton Head, South Carolina for a gross sales price of $ 1.2 million, resulting in a net loss of $ 37 thousand.

During the nine months ended September 30, 2020, and 2019, respectively, we recorded no impairment charges after the consideration of the impacts, on a qualitative and quantitative basis, of the ongoing COVID-19 pandemic in our quarterly assessment.

As the COVID-19 pandemic continues to develop, we will monitor the performance of our buildings and other assets to determine whether any additional impairment indicators unique to the COVID-19 pandemic are present, including, but not limited to, significant prolonged disruption in cash flows, tenant vacancies, or lease modifications, and that would indicate the recoverability of recorded values of these assets may be at risk.

3 unchanged sentences

Intangible Assets and Liabilities

Intangible assets and liabilities consisted of the following as of June 30, 2020 and December 31, 2019, respectively (in thousands, except weighted average remaining amortization terms):

June 30, 2020 December 31, 2019

Intangible assets and liabilities consisted of the following as of September 30, 2020 and December 31, 2019, respectively (in thousands, except weighted average remaining amortization terms):

September 30, 2020 December 31, 2019

Balance Weighted Average Remaining

13 unchanged sentences

Total $ 33,586 14.5 $ 38,779 13.9

The following is a summary of the net intangible amortization for the three and six months ended June 30, 2020 and 2019, respectively (in thousands):

Three Months Ended June 30, Six Months Ended June 30,

The following is a summary of the net intangible amortization for the three and nine months ended September 30, 2020 and 2019, respectively (in thousands):

Three Months Ended September 30, Nine Months Ended September 30,

2020 2019 2020 2019

4 unchanged sentences

Receivables and Other Assets

Receivables and other assets consisted of the following as of June 30, 2020 and December 31, 2019, respectively (in thousands):

June 30, 2020 December 31, 2019

Receivables and other assets consisted of the following as of September 30, 2020 and December 31, 2019, respectively (in thousands):

September 30, 2020 December 31, 2019

Tenant receivables, net

9 unchanged sentences

Finance ROU asset, net 4,105 3,409

Insurance receivable (1)

Insurance receivables (1)

Held for sale assets — 3,984

1 unchanged sentence

(1) Amount primarily related to an involuntary conversion at one of our properties in 2019 for the total amount of $ 3.7 million.

In May 2020, this amount was adjusted to $ 2.1 million to reflect the revision in damages incurred and corresponding final agreement amount between HTA and the Company's insurance carrier.

Pursuant to applicable accounting guidance, we deemed the receipt of funds from the Company's insurance carrier probable and expect the funds to fully cover, less our immaterial deductible, the damages we experienced.

As of June 30, 2020, we had received $ 0.7 million in insurance

In May 2020, this amount was adjusted to $ 2.1 million to reflect the revision in damages incurred and corresponding final agreement between HTA and our insurance carrier.

Pursuant to applicable accounting guidance, we deemed the receipt of funds from the Company's insurance carrier probable and expect the funds to fully cover, less our immaterial

HEALTHCARE TRUST OF AMERICA, INC.

AND HEALTHCARE TRUST OF AMERICA HOLDINGS, LP NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (Continued)

Subsequent to June 30, 2020, the Company received the final payment of $ 1.4 million in insurance proceeds to close out this claim.

The following is a summary of the amortization of deferred leasing costs and financing costs for the three and six months ended June 30, 2020 and 2019, respectively (in thousands):

Three Months Ended June 30, Six Months Ended June 30,

deductible, the damages we experienced.

As of September 30, 2020, we had received all insurance proceeds to close out this claim.

The following is a summary of the amortization of deferred leasing costs and financing costs for the three and nine months ended September 30, 2020 and 2019, respectively (in thousands):

Three Months Ended September 30, Nine Months Ended September 30,

2020 2019 2020 2019

2 unchanged sentences

Interest expense related to deferred financing costs 431 431 1,293 1,293

For the three and nine months ended September 30, 2020 and 2019, one new ground lease has commenced.

Based on our analysis, we concluded that its classification was a finance lease.

Lessee - Maturity of Lease Liabilities

The following table summarizes the future minimum lease obligations of our operating leases as of June 30, 2020 (in thousands):

The following table summarizes the future minimum lease obligations of our operating leases as of September 30, 2020 (in thousands):

Year Operating Leases Finance Leases

10 unchanged sentences

Lessor - Lease Revenues and Maturity of Future Minimum Rents

For the three months ended June 30, 2020 and 2019, we recognized $ 176.2 million and $ 169.9 million, respectively, of rental and other lease-related income related to our operating leases, of which $ 41.8 million and $ 38.2 million, respectively, were variable lease payments.

For the six months ended June 30, 2020 and 2019, we recognized $ 360.5 million and $ 338.4 million, respectively, of rental and other lease-related income related to our operating leases, of which $ 84.6 million and $ 76.1 million, respectively, were variable lease payments.

The following table summarizes the future minimum rent contractually due under operating leases, excluding tenant reimbursements of certain costs, as of June 30, 2020 (in thousands):

For the three months ended September 30, 2020 and 2019, we recognized $ 186.3 million and $ 173.1 million, respectively, of rental and other lease-related income related to our operating leases, of which $ 42.7 million and $ 39.1 million, respectively, were variable lease payments.

For the nine months ended September 30, 2020 and 2019, we recognized $ 546.8 million and $ 511.5 million, respectively, of rental and other lease-related income related to our operating leases, of which $ 127.3 million and $ 115.2 million, respectively, were variable lease payments.

The following table summarizes the future minimum rent contractually due under operating leases, excluding tenant reimbursements of certain costs, as of September 30, 2020 (in thousands):

2020 $ 132,156

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AND HEALTHCARE TRUST OF AMERICA HOLDINGS, LP NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (Continued)

Debt consisted of the following as of June 30, 2020 and December 31, 2019, respectively (in thousands):

June 30, 2020 December 31, 2019

Debt consisted of the following as of September 30, 2020 and December 31, 2019, respectively (in thousands):

September 30, 2020 December 31, 2019

Unsecured revolving credit facility $ — $ 100,000

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We also pay a facility fee ranging from 0.13 % to 0.30 % per annum on the aggregate commitments under the unsecured revolving credit facility.

As of June 30, 2020, HTALP had $ 264.0 million under this unsecured revolving credit facility outstanding and an interest rate of 1.19 % per annum .

The margin associated with our borrowings was 1.00 % per annum and the facility fee was 0.20 % per annum.

As of September 30, 2020, HTALP had no outstanding balance under this unsecured revolving credit facility.

The current margin associated with any future borrowings is 1.00 % per annum and the facility fee was 0.20 % per annum.

Unsecured Term Loan due 2023

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Borrowings under this unsecured term loan accrue interest equal to adjusted LIBOR, plus a margin ranging from 0.90 % to 1.75 % per annum based on our credit rating.

The margin associated with our borrowings as of June 30, 2020 was 1.10 % per annum.

The margin associated with our borrowings as of September 30, 2020 was 1.10 % per annum.

Including the impact of the interest rate swaps associated with our unsecured term loan, the interest rate was 2.52 % per annum, based on our current credit rating.

As of June 30, 2020, HTALP had $ 300.0 million under this unsecured term loan outstanding.

As of September 30, 2020, HTALP had $ 300.0 million under this unsecured term loan outstanding.

$ 200.0 Million Unsecured Term Loan due 2024

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Borrowings under the unsecured term loan accrue interest at a rate equal to LIBOR, plus a margin ranging from 0.75 % to 1.65 % per annum based on our credit rating.

The margin associated with our borrowings as of June 30, 2020 was 1.00 % per annum.

The margin associated with our borrowings as of September 30, 2020 was 1.00 % per annum.

HTALP had interest rate swaps on the balance, which resulted in a fixed interest rate at 2.32 % per annum, based on our current credit rating.

As of June 30, 2020, HTALP had $ 200.0 million under this unsecured term loan outstanding.

As of September 30, 2020, HTALP had $ 200.0 million under this unsecured term loan outstanding.

$ 300.0 Million Unsecured Senior Notes due 2023

As of June 30, 2020, HTALP had $ 300.0 million of unsecured senior notes outstanding that are guaranteed by HTA.

These unsecured senior notes are registered under the Securities Act of 1933, as amended (the “Securities Act”), bear interest at 3.70 % per annum and are payable semi-annually.

Additionally, these unsecured senior notes were offered at 99.19 % of the principal amount thereof, with an effective yield to maturity of 3.80 % per annum.

As of June 30, 2020, HTALP had $ 300.0 million of these unsecured senior notes outstanding that mature on April 15, 2023.

In September 2020, in connection with, HTALP’s issuance of $ 800.0 million of unsecured senior notes, all of the $ 300.0 million outstanding 2023 unsecured senior notes originally due to mature on April 15, 2023, including any accrued and unpaid interest and a make-whole provision, were redeemed in full, with net proceeds from the offering.

The make-whole fee of $ 24.7 million is recorded in loss on extinguishment of debt in the accompanying condensed consolidated statements of operations.

$ 600.0 Million Unsecured Senior Notes due 2026

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Additionally, these unsecured senior notes were offered at 103.66 % and 99.72 %, respectively, of the principal amount thereof, with an effective yield to maturity of 2.89 % and 3.53 % per annum, respectively.

As of June 30, 2020, HTALP had $ 600.0 million of these unsecured senior notes outstanding that mature on August 1, 2026.

As of September 30, 2020, HTALP had $ 600.0 million of these unsecured senior notes outstanding that mature on August 1, 2026.

HEALTHCARE TRUST OF AMERICA, INC.

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Additionally, these unsecured senior notes were offered at 99.49 % of the principal amount thereof, with an effective yield to maturity of 3.81 % per annum.

As of June 30, 2020, HTALP had $ 500.0 million of these unsecured senior notes outstanding that mature on July 1, 2027.

As of September 30, 2020, HTALP had $ 500.0 million of these unsecured senior notes outstanding that mature on July 1, 2027.

$ 650.0 million Unsecured Senior Notes due 2030

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Additionally, these unsecured senior notes were offered at 99.66 % of the principal amount thereof, with an effective yield to maturity of 3.14 % per annum.

As of June 30, 2020, HTALP had $ 650.0 million of these unsecured senior notes outstanding that mature on February 15, 2030.

As of September 30, 2020, HTALP had $ 650.0 million of these unsecured senior notes outstanding that mature on February 15, 2030.

$ 800.0 million Unsecured Senior Notes due 2031

In September 2020, HTALP issued $ 800.0 million of unsecured senior notes that are guaranteed by HTA.

These unsecured senior notes are registered under the Securities Act, bear interest at 2.00 % per annum and are payable semi-annually.

Additionally, these unsecured senior notes were offered at 99.20 % of the principal amount thereof, with an effective yield to maturity of 2.09 % per annum.

As of September 30, 2020, HTALP had $ 800.0 million of these unsecured senior notes outstanding that mature on March 15, 2031.

Fixed Rate Mortgages

As of June 30, 2020, HTALP and its subsidiaries had fixed rate mortgages with interest rates ranging from 2.85 % to 3.95 % per annum and a weighted average interest rate of 3.64 % per annum.

During the six months ended June 30, 2020, we repaid $ 96.2 million of our fixed rate mortgages.

As of June 30, 2020, we had $ 17.9 million of fixed rate mortgages outstanding.

During the nine months ended September 30, 2020, we repaid $ 114.1 million of our fixed rate mortgages and as of September 30, 2020, we had no fixed rate mortgages outstanding.

Future Debt Maturities

The following table summarizes the debt maturities and scheduled principal repayments of our indebtedness as of June 30, 2020 (in thousands):

The following table summarizes the debt maturities and scheduled principal repayments of our indebtedness as of September 30, 2020 (in thousands):

Thereafter 2,550,000

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Deferred Financing Costs

As of June 30, 2020, the future amortization of our deferred financing costs is as follows (in thousands):

As of September 30, 2020, the future amortization of our deferred financing costs is as follows (in thousands):

Thereafter 8,376

Total $ 19,638

HEALTHCARE TRUST OF AMERICA, INC.

AND HEALTHCARE TRUST OF AMERICA HOLDINGS, LP NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (Continued)

Debt Covenants

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Our loan agreements also impose various financial covenants on us, such as a maximum ratio of total indebtedness to total asset value, a minimum ratio of EBITDA to fixed charges, a minimum tangible net worth covenant, a maximum ratio of unsecured indebtedness to unencumbered asset value, rent coverage ratios and a minimum ratio of unencumbered Net Operating Income (“NOI”) to unsecured interest expense.

As of June 30, 2020, we believe that we were in compliance with all such financial covenants and reporting requirements.

As of September 30, 2020, we believe that we were in compliance with all such financial covenants and reporting requirements.

In addition, certain of our loan agreements include events of default provisions that we believe are customary for these types of facilities, including restricting us from making dividend distributions to our stockholders in the event we are in default thereunder, except to the extent necessary for us to maintain our REIT status.

We have also concluded as of June 30, 2020 we were not aware of non-compliance with any financial or non-financial covenants in light of the ongoing COVID-19 pandemic.

HEALTHCARE TRUST OF AMERICA, INC.

AND HEALTHCARE TRUST OF AMERICA HOLDINGS, LP NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (Continued)

We have also concluded as of September 30, 2020 we were not aware of non-compliance with any financial or non-financial covenants in light of the ongoing COVID-19 pandemic.

Derivative Financial Instruments and Hedging Activities

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During the next twelve months, we estimate that an additional $ 6.1 million will be reclassified from other comprehensive income in the accompanying condensed consolidated balance sheets as an increase to interest related to derivative financial instruments in the accompanying condensed consolidated statements of operations.

As of June 30, 2020, we had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk, two of which are forward starting interest rate swaps (in thousands, except number of instruments):

Interest Rate Swaps June 30, 2020

As of September 30, 2020, we had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk (in thousands, except number of instruments):

Interest Rate Swaps September 30, 2020

Number of instruments 7

Notional amount $ 500,000

The table below presents the fair value of our derivative financial instruments designated as cash flow hedges as well as the classification in the accompanying condensed consolidated balance sheets as of June 30, 2020 and December 31, 2019, respectively (in thousands):

HEALTHCARE TRUST OF AMERICA, INC.

AND HEALTHCARE TRUST OF AMERICA HOLDINGS, LP NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (Continued)

The table below presents the fair value of our derivative financial instruments designated as cash flow hedges as well as the classification in the accompanying condensed consolidated balance sheets as of September 30, 2020 and December 31, 2019, respectively (in thousands):

Asset Derivatives Liability Derivatives

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Balance Sheet

Location June 30, 2020 December 31, 2019 Balance Sheet

Location June 30, 2020 December 31, 2019

Location September 30, 2020 December 31, 2019 Balance Sheet

Location September 30, 2020 December 31, 2019

Interest rate swaps Receivables and other assets $ — $ 3,011 Derivative financial instruments $ 16,697 $ 29

HEALTHCARE TRUST OF AMERICA, INC.

AND HEALTHCARE TRUST OF AMERICA HOLDINGS, LP NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (Continued)

The table below presents the gain or loss recognized on our derivative financial instruments designated as cash flow hedges as well as the classification in the accompanying condensed consolidated statements of operations for the three and six months ended June 30, 2020 and 2019, respectively (in thousands):

Gain (Loss) Recognized in OCI on Derivative Gain (Loss) Reclassified from Accumulated OCI into Income

Three Months Ended June 30, Three Months Ended June 30,

Derivatives Cash Flow Hedging Relationships:

2020 2019 Statement of Operations Location 2020 2019

Interest rate swaps $ ( 4,300 ) $ ( 30 ) Interest expense $ ( 1,072 ) $ 351

Gain (Loss) Recognized in OCI on Derivative Gain (Loss) Reclassified from Accumulated OCI into Income

Six Months Ended June 30, Six Months Ended June 30,

Derivatives Cash Flow Hedging Relationships:

2020 2019 Statement of Operations Location 2020 2019

Interest rate swaps $ ( 26,453 ) $ ( 51 ) Interest expense $ ( 727 ) $ 720

The table below presents the gain or loss recognized on our derivative financial instruments designated as cash flow hedges as well as the classification in the accompanying condensed consolidated statements of operations for the three and nine months ended September 30, 2020 and 2019, respectively (in thousands):

Three Months Ended September 30, Nine Months Ended September 30,

Effect of Derivative Instruments Location in Statement of Operations and Comprehensive Income (Loss) 2020 2019 2020 2019

Gain (loss) recognized in OCI Change in unrealized losses on cash flow hedges $ 521 $ 2,559 $ ( 25,932 ) $ 2,508

Gain (loss) reclassified from accumulated OCI into income Interest expense ( 1,533 ) 269 ( 2,260 ) 989

Credit Risk Related Contingent Features

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Failure to comply with the covenant provisions would result in us being in default on any derivative instrument obligations covered by these agreements.

As of June 30, 2020, the fair value of derivatives in a net liability position, including accrued interest, but excluding any adjustment for nonperformance risk related to these agreements, was $ 23.1 million.

As of June 30, 2020, we have not posted any collateral related to these agreements and we were not in breach of any of the provisions of these agreements.

As of September 30, 2020, the fair value of derivatives in a net liability position, including accrued interest, but excluding any adjustment for nonperformance risk related to these agreements, was $ 17.0 million.

As of September 30, 2020, we have not posted any collateral related to these agreements and we were not in breach of any of the provisions of these agreements.

If we had breached any of the provisions of these agreements, we could have been required to settle our obligations under these agreements.

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Further, we are not aware of any material environmental liability or any unasserted claim or assessment with respect to an environmental liability at our properties that we believe would require additional disclosure or the recording of a loss contingency.

Our other commitments and contingencies include the usual obligations of real estate owners and operators in the normal course of business.

In our opinion, these matters are not expected to have a material adverse effect on our condensed consolidated financial position, results of operations or cash flows.

HEALTHCARE TRUST OF AMERICA, INC.

AND HEALTHCARE TRUST OF AMERICA HOLDINGS, LP NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (Continued)

Our other commitments and contingencies include the usual obligations of real estate owners and operators in the normal course of business.

In our opinion, these matters are not expected to have a material adverse effect on our condensed consolidated financial position, results of operations or cash flows.

Stockholders’ Equity and Partners’ Capital

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In November 2019, we upsized this ATM offering program with an additional $ 750.0 million available for issuance.

During the six months ended June 30, 2020, we issued approximately 1.7 million shares of our common stock under our ATM for net proceeds of approximately $ 50.0 million, adjusted for costs to borrow equating to a net price to us of $ 29.86 per share of common stock.

During the nine months ended September 30, 2020, we issued approximately 1.7 million shares of our common stock under our ATM for net proceeds of approximately $ 50.0 million, adjusted for costs to borrow equating to a net price to us of $ 29.86 per share of common stock.

Additionally, we have four outstanding forward sale arrangements pursuant to forward equity agreements, with total anticipated net proceeds of $ 277.5 million, subject to adjustments as provided in the forward equity agreements.

Three of the arrangements mature in late 2020 with the last one maturing in early 2021.

As of June 30, 2020, $ 570.6 million remained available for issuance by us under our current ATM.

All four of the arrangements mature by the middle of 2021.

As of September 30, 2020, $ 570.6 million remained available for issuance by us under our current ATM.

Refer to Note 13 - Per Share Data of HTA to these condensed consolidated financial statements for a more detailed discussion related to our forward equity agreements.

Stock Repurchase Plan

In August 2018, our Board of Directors approved a stock repurchase plan authorizing us to purchase up to $ 300.0 million of our common stock from time to time prior to the expiration thereof on August 1, 2020.

As of June 30, 2020, the remaining amount of common stock available for repurchase under our stock repurchase plan was approximately $ 224.3 million.

In September 2020, our Board of Directors approved the reactivation of a stock repurchase plan authorizing us to purchase up to $ 300.0 million of our common stock from time to time prior to the expiration thereof on September 22, 2023.

As of September 30, 2020, the remaining amount of common stock available for repurchase under our stock repurchase plan was $ 300.0 million.

Common Stock Dividends

See our accompanying condensed consolidated statements of equity and condensed statements of changes in partners’ capital for the dividends declared during the three and six months ended June 30, 2020 and 2019.

See our accompanying condensed consolidated statements of equity and condensed statements of changes in partners’ capital for the dividends declared during the three and nine months ended September 30, 2020 and 2019.

Incentive Plan

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Subject to adjustment as provided in the Plan, the aggregate number of awards reserved and available for issuance under the Plan is 5,000,000 shares.

As of June 30, 2020, there were 832,557 awards available for grant under the Plan.

As of September 30, 2020, there were 804,786 awards available for grant under the Plan.

Restricted Common Stock

For the three and six months ended June 30, 2020, we recognized compensation expense of $ 2.1 million and $ 5.3 million, respectively.

For the three and six months ended June 30, 2019, we recognized compensation expense of $ 2.1 million and $ 5.5 million, respectively.

For the three and nine months ended September 30, 2020, we recognized compensation expense of $ 1.8 million and $ 7.1 million, respectively.

For the three and nine months ended September 30, 2019, we recognized compensation expense of $ 2.3 million and $ 7.8 million, respectively.

Substantially all compensation expense was recorded in general and administrative expenses in the accompanying condensed consolidated statements of operations.

As of June 30, 2020, we had $ 7.0 million of unrecognized compensation expense, net of estimated forfeitures, which we will recognize over a remaining weighted average period of 1.8 years.

The following is a summary of our restricted common stock activity as of June 30, 2020 and 2019, respectively:

June 30, 2020 June 30, 2019

As of September 30, 2020, we had $ 6.2 million of unrecognized compensation expense, net of estimated forfeitures, which we will recognize over a remaining weighted average period of 1.7 years.

The following is a summary of our restricted common stock activity as of September 30, 2020 and 2019, respectively:

HEALTHCARE TRUST OF AMERICA, INC.

AND HEALTHCARE TRUST OF AMERICA HOLDINGS, LP NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (Continued)

September 30, 2020 September 30, 2019

Restricted Common Stock Weighted

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Ending balance 442,229 $ 28.26 605,678 $ 28.05

HEALTHCARE TRUST OF AMERICA, INC.

AND HEALTHCARE TRUST OF AMERICA HOLDINGS, LP NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (Continued)

Fair Value of Financial Instruments

Financial Instruments Reported at Fair Value - Recurring

The table below presents the carrying amounts and fair values of our financial instruments on a recurring basis as of June 30, 2020 and December 31, 2019 (in thousands):

June 30, 2020 December 31, 2019

The table below presents the carrying amounts and fair values of our financial instruments on a recurring basis as of September 30, 2020 and December 31, 2019 (in thousands):

September 30, 2020 December 31, 2019

Carrying Amount Fair Value Carrying Amount Fair Value

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Per Share Data of HTA

Additionally, we have four outstanding forward sale arrangements pursuant to forward equity agreements, with total anticipated net proceeds of $ 277.5 million, with an average share price of $ 29.46 , subject to adjustments as provided in the forward equity agreements.

Three of the arrangements mature in late 2020 with the last one maturing in early 2021.

All four of the arrangements mature by the middle of 2021.

To account for the forward equity agreements, we considered the accounting guidance governing financial instruments and derivatives and concluded that our forward equity agreements were not liabilities as they did not embody obligations to repurchase our shares of common stock nor did they embody obligations to issue a variable number of shares for which the monetary value was predominately fixed, varying with something other than the fair value of the shares, or varying inversely in relation to our shares.

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and (ii) none of the settlement provisions precluded the agreements from being indexed to our own common stock.

HEALTHCARE TRUST OF AMERICA, INC.

AND HEALTHCARE TRUST OF AMERICA HOLDINGS, LP NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (Continued)

In addition, we considered the potential dilution resulting from the forward equity agreements mentioned above on our earnings per common share calculations.

We use the treasury method to determine the dilution resulting from the forward equity agreements during the period of time prior to settlement.

The impact to our weighted-average shares - diluted was anti-dilutive in nature and thus approximately 1.4 million and 0.5 million shares, respectively, were excluded from the calculation for the three and six months ended June 30, 2020.

The impact to our weighted-average shares - diluted was anti-dilutive in nature and, thus, approximately 1.1 million and 0.8 million shares, respectively, were excluded from the calculation for the three and nine months ended September 30, 2020.

We include unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents as “participating securities” pursuant to the two-class method.

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Our forward equity agreements are not considered a participating security and, therefore, are not included in the computation of earnings per share using the two-class method.

For the three and six months ended June 30, 2020 and 2019, all of our earnings were distributed and the calculated earnings per share amount would be the same for all classes.

HEALTHCARE TRUST OF AMERICA, INC.

AND HEALTHCARE TRUST OF AMERICA HOLDINGS, LP NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – (Continued)

The following is the reconciliation of the numerator and denominator used in basic and diluted earnings per share of HTA for the three and six months ended June 30, 2020 and 2019, respectively (in thousands, except per share data):

Three Months Ended June 30, Six Months Ended June 30,

2020 2019 2020 2019

For the three and nine months ended September 30, 2020 and 2019, all of our earnings were distributed and the calculated earnings per share amount would be the same for all classes.

The following is the reconciliation of the numerator and denominator used in basic and diluted earnings per share of HTA for the three and nine months ended September 30, 2020 and 2019, respectively (in thousands, except per share data):

Three Months Ended September 30, Nine Months Ended September 30,

2020 2019 2020 2019

Net income attributable to noncontrolling interests ( 236 ) ( 339 ) ( 543 ) ( 600 )

Net income attributable to common stockholders $ 13,489 $ 16,259 $ 31,390 $ 29,699

Net (loss) income $ ( 6,932 ) $ ( 8,577 ) $ 25,001 $ 21,722

Net loss (income) attributable to noncontrolling interests 105 114 ( 438 ) ( 486 )

Net (loss) income attributable to common stockholders $ ( 6,827 ) $ ( 8,463 ) $ 24,563 $ 21,236

Weighted average shares outstanding - basic 218,549 205,277 217,911 205,156

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Earnings per common share - basic

Net income attributable to common stockholders

$ 0.06 $ 0.08 $ 0.14 $ 0.14

Net (loss) income attributable to common stockholders $ ( 0.03 ) $ ( 0.04 ) $ 0.11 $ 0.10

Earnings per common share - diluted

Net income attributable to common stockholders

$ 0.06 $ 0.08 $ 0.14 $ 0.14

Net (loss) income attributable to common stockholders $ ( 0.03 ) $ ( 0.04 ) $ 0.11 $ 0.10

Per Unit Data of HTALP

Three of the arrangements mature in late 2020 with the last one maturing in early 2021.

All four of the arrangements mature by the middle of 2021.

Refer to Note 13 - Per Share Data of HTA to these condensed consolidated financial statements for a more detailed discussion related to our forward equity agreements executed in 2019 and March 2020.

The following is the reconciliation of the numerator and denominator used in basic and diluted earnings per unit of HTALP for the three and six months ended June 30, 2020 and 2019, respectively (in thousands, except per unit data):

Three Months Ended June 30, Six Months Ended June 30,

2020 2019 2020 2019

The following is the reconciliation of the numerator and denominator used in basic and diluted earnings per unit of HTALP for the three and nine months ended September 30, 2020 and 2019, respectively (in thousands, except per unit data):

Three Months Ended September 30, Nine Months Ended September 30,

2020 2019 2020 2019

Net (loss) income $ ( 6,932 ) $ ( 8,577 ) $ 25,001 $ 21,722

Net income attributable to noncontrolling interests — — — ( 66 )

— ( 38 ) — ( 66 )

Net income attributable to common unitholders $ 13,725 $ 16,560 $ 31,933 $ 30,233

Net (loss) income attributable to common unitholders $ ( 6,932 ) $ ( 8,577 ) $ 25,001 $ 21,656

Weighted average OP Units outstanding - basic 222,101 209,164 221,521 209,056

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Earnings per common unit - basic:

Net income attributable to common unitholders

$ 0.06 $ 0.08 $ 0.14 $ 0.14

Net (loss) income attributable to common unitholders $ ( 0.03 ) $ ( 0.04 ) $ 0.11 $ 0.10

Earnings per common unit - diluted:

Net income attributable to common unitholders

$ 0.06 $ 0.08 $ 0.14 $ 0.14

Net (loss) income attributable to common unitholders $ ( 0.03 ) $ ( 0.04 ) $ 0.11 $ 0.10

HEALTHCARE TRUST OF AMERICA, INC.

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Supplemental Cash Flow Information

The following is the supplemental cash flow information for the six months ended June 30, 2020 and 2019, respectively (in thousands):

Six Months Ended June 30,

The following is the supplemental cash flow information for the nine months ended September 30, 2020 and 2019, respectively (in thousands):

Nine Months Ended September 30,

Supplemental Disclosure of Cash Flow Information:

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Issuance of OP Units in HTALP

Issuance of OP Units in HTALP in connection with an acquisition

Redemption of noncontrolling interest

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements