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Revenues | 6 Months Ended
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Jun. 30, 2019
Revenue from Contract with Customer [Abstract] |
Revenues | Revenues Disaggregated Revenue The following table presents the Company’s revenues disaggregated by revenue source ($ in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
Rental income (1) | $ | 353,167 |  |  | $ | 340,481 |  |  | $ | 700,972 |  |  | $ | 679,496 |
Other property (1) | 6,208 |  |  | 6,045 |  |  | 12,291 |  |  | 11,977 |
Management and other fees from affiliates | 2,260 |  |  | 2,197 |  |  | 4,595 |  |  | 4,505 |
Total revenues | $ | 361,635 |  |  | $ | 348,723 |  |  | $ | 717,858 |  |  | $ | 695,978 |
(1) On January 1, 2019, the Company adopted ASU No. 2016-02 “Leases.” As a result of this adoption certain amounts previously classified as other property revenue have been reclassified to rental income. Prior period amounts have been adjusted to conform to the current period’s presentation. The following table presents the Company’s rental and other property-related revenues disaggregated by geographic operating segment ($ in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
Southern California | $ | 151,966 |  |  | $ | 147,249 |  |  | 302,990 |  |  | 293,807 |
Northern California | 140,095 |  |  | 129,590 |  |  | 276,420 |  |  | 258,212 |
Seattle Metro | 60,841 |  |  | 58,796 |  |  | 121,081 |  |  | 117,509 |
Other real estate assets (1) | 6,473 |  |  | 10,891 |  |  | 12,772 |  |  | 21,945 |
Total rental and other property revenues | $ | 359,375 |  |  | $ | 346,526 |  |  | $ | 713,263 |  |  | $ | 691,473 |
(1) Other real estate assets consists of revenues generated from retail space, commercial properties, held for sale properties, and disposition properties. Executive management does not evaluate such operating performance geographically. The following table presents the Company’s rental and other property-related revenues disaggregated by current property category status ($ in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
Same-property (1) | $ | 340,042 |  |  | $ | 328,602 |  |  | $ | 677,394 |  |  | $ | 655,869 |
Acquisitions (2) | 4,836 |  |  | — |  |  | 7,107 |  |  | — |
Development (3) | 1,192 |  |  | 450 |  |  | 2,325 |  |  | 469 |
Redevelopment | 5,223 |  |  | 5,036 |  |  | 10,435 |  |  | 10,060 |
Non-residential/other, net (4) | 8,082 |  |  | 12,438 |  |  | 16,002 |  |  | 25,075 |
Total rental and other property revenues | $ | 359,375 |  |  | $ | 346,526 |  |  | $ | 713,263 |  |  | $ | 691,473 |
(1) Properties that have stabilized operations as of January 1, 2018 and are consolidated by the Company for the three and six months ended June 30, 2019 and 2018. A community is generally considered to have reached stabilized operations once it achieves an initial occupancy of 95%. (2) Acquisitions includes properties acquired which did not have comparable stabilized results as of January 1, 2018. (3) Development includes properties developed which did not have stabilized results as of January 1, 2018. (4) Non-residential/other, net consists of revenues generated from retail space, commercial properties, held for sale properties, disposition properties and student housing. Deferred Revenues and Remaining Performance Obligations When cash payments are received or due in advance of the Company’s performance of contracts with customers, deferred revenue is recorded. The total deferred revenue balance related to such contracts was $4.8 million and $6.2 million as of June 30, 2019 and December 31, 2018, respectively, and was included in accounts payable and accrued liabilities within the accompanying consolidated balance sheets. The amount of revenue recognized for the six months ended June 30, 2019 that was included in the December 31, 2018 deferred revenue balance was $1.4 million, which was included in interest and other income within the condensed consolidated statements of income and comprehensive income. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer, and is the unit of account in the revenue recognition accounting standard. As of June 30, 2019, the Company had $4.8 million of remaining performance obligations. The Company expects to recognize approximately 19% of these remaining performance obligations in 2019, an additional 31% through 2021, and the remaining balance thereafter.

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- References No definition available. + Details
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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 + Details
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