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Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2020
Segment Reporting [Abstract] |
Reconciliation of revenues and operating profit (loss) from segments to consolidated | The revenues and NOI for each of the reportable operating segments are summarized as follows for the three and six months ended June 30, 2020 and 2019 ($ in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
Revenues: |  |  |  |  |  |  |
Southern California | $ | 143,983 |  |  | $ | 152,415 |  |  | $ | 299,625 |  |  | $ | 303,878 |
Northern California | 153,831 |  |  | 136,427 |  |  | 313,846 |  |  | 271,185 |
Seattle Metro | 60,649 |  |  | 60,240 |  |  | 123,693 |  |  | 119,890 |
Other real estate assets | 9,686 |  |  | 10,293 |  |  | 20,735 |  |  | 18,310 |
Total property revenues | $ | 368,149 |  |  | $ | 359,375 |  |  | $ | 757,899 |  |  | $ | 713,263 |
Net operating income: |  |  |  |  |  |  |
Southern California | $ | 99,307 |  |  | $ | 109,260 |  |  | $ | 210,404 |  |  | $ | 217,256 |
Northern California | 110,649 |  |  | 101,887 |  |  | 228,909 |  |  | 201,743 |
Seattle Metro | 40,780 |  |  | 43,512 |  |  | 85,206 |  |  | 84,680 |
Other real estate assets | 7,277 |  |  | 9,526 |  |  | 16,101 |  |  | 16,354 |
Total net operating income | 258,013 |  |  | 264,185 |  |  | 540,620 |  |  | 520,033 |
Management and other fees from affiliates | 2,348 |  |  | 2,260 |  |  | 4,965 |  |  | 4,595 |
Corporate-level property management expenses | (8,646 | ) |  | (8,469 | ) |  | (17,405 | ) |  | (16,898 | )
Depreciation and amortization | (133,609 | ) |  | (119,465 | ) |  | (265,168 | ) |  | (240,033 | )
General and administrative | (14,952 | ) |  | (13,927 | ) |  | (28,934 | ) |  | (27,386 | )
Expensed acquisition and investment related costs | (15 | ) |  | (24 | ) |  | (102 | ) |  | (56 | )
Gain on sale of real estate and land | 16,597 |  |  | — |  |  | 16,597 |  |  | — |
Interest expense | (54,447 | ) |  | (54,112 | ) |  | (109,594 | ) |  | (107,755 | )
Total return swap income | 2,788 |  |  | 1,975 |  |  | 4,772 |  |  | 4,020 |
Interest and other income | 11,405 |  |  | 8,347 |  |  | 6,184 |  |  | 20,608 |
Equity income from co-investments | 17,257 |  |  | 16,959 |  |  | 38,554 |  |  | 33,235 |
Deferred tax expense on unrealized gain on unconsolidated co-investment | (1,636 | ) |  | — |  |  | (1,636 | ) |  | — |
(Loss) gain on early retirement of debt, net | (5,027 | ) |  | 332 |  |  | (4,706 | ) |  | 1,668 |
Gain on remeasurement of co-investment | — |  |  | — |  |  | 234,694 |  |  | 31,535 |
Net income | $ | 90,076 |  |  | $ | 98,061 |  |  | $ | 418,841 |  |  | $ | 223,566 |
Reconciliation of assets from segment to consolidated | Total assets for each of the reportable operating segments are summarized as follows as of June 30, 2020 and December 31, 2019 ($ in thousands):
| June 30, 2020 |  | December 31, 2019
Assets: |  |  |
Southern California | $ | 4,160,950 |  |  | $ | 4,233,110 |
Northern California | 5,491,288 |  |  | 4,408,404 |
Seattle Metro | 1,429,957 |  |  | 1,456,187 |
Other real estate assets | 11,829 |  |  | 250,959 |
Net reportable operating segment - real estate assets | 11,094,024 |  |  | 10,348,660 |
Real estate under development | 467,915 |  |  | 546,075 |
Co-investments | 1,008,758 |  |  | 1,335,339 |
Real estate held for sale, net | 24,495 |  |  | — |
Cash and cash equivalents, including restricted cash | 256,475 |  |  | 81,094 |
Marketable securities | 154,433 |  |  | 144,193 |
Notes and other receivables | 44,748 |  |  | 134,365 |
Operating lease right-of-use assets | 73,669 |  |  | 74,744 |
Prepaid expenses and other assets | 52,894 |  |  | 40,935 |
Total assets | $ | 13,177,411 |  |  | $ | 12,705,405 |

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- Definition Tabular disclosure of all significant reconciling items in the reconciliation of revenues and total profit or loss from reportable segments, to the entity's consolidated income before income taxes, extraordinary items, and discontinued operations. + References No definition available. + Details
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