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Segment Information | 9 Months Ended
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Sep. 30, 2018
Segment Reporting [Abstract] |
Segment Information | Segment Information The Company has two reportable segments, real estate and debt and preferred equity investments. We evaluate real estate performance and allocate resources based on earnings contribution to income from continuing operations. The primary sources of revenue are generated from tenant rents and escalations and reimbursement revenue. Real estate property operating expenses consist primarily of security, maintenance, utility costs, insurance, real estate taxes and ground rent expense (at certain applicable properties). See Note 5, "Debt and Preferred Equity Investments," for additional details on our debt and preferred equity investments. Selected consolidated results of operations for the three and nine months ended September 30, 2018 and 2017, and selected asset information as of September 30, 2018 and December 31, 2017, regarding our operating segments are as follows (in thousands):
|  | Real Estate Segment |  | Debt and Preferred Equity Segment |  | Total Company
Total revenues |  |  |  |  |  |
Three months ended: |  |  |  |  |  |
September 30, 2018 |  | $ | 258,568 |  |  | $ | 48,977 |  |  | $ | 307,545 |
September 30, 2017 |  | 326,780 |  |  | 47,820 |  |  | 374,600 |
Nine months ended: |  |  |  |  |  |
September 30, 2018 |  | 766,816 |  |  | 143,540 |  |  | 910,356 |
September 30, 2017 |  | 1,001,390 |  |  | 148,741 |  |  | 1,150,131 |
Net income |  |  |  |  |  |  |
Three months ended: |  |  |  |  |  |  |
September 30, 2018 |  | $ | 62,587 |  |  | $ | 36,867 |  |  | $ | 99,454 |
September 30, 2017 |  | 6,073 |  |  | 39,722 |  |  | 45,795 |
Nine months ended: |  |  |  |  |  |
September 30, 2018 |  | 224,609 |  |  | 104,567 |  |  | 329,176 |
September 30, 2017 |  | (68,379 | ) |  | 131,113 |  |  | 62,734 |
Total assets |  |  |  |  |  |  |
As of: |  |  |  |  |  |  |
September 30, 2018 |  | $ | 11,256,296 |  |  | $ | 2,198,708 |  |  | $ | 13,455,004 |
December 31, 2017 |  | 11,631,290 |  |  | 2,351,614 |  |  | 13,982,904 |
Interest costs for the debt and preferred equity segment include actual costs incurred for borrowings on the 2016 MRA and 2017 MRA. Interest is imputed on the investments that do not collateralize the 2016 MRA or 2017 MRA using our corporate borrowing cost. We also allocate loan loss reserves, net of recoveries, and transaction related costs to the debt and preferred equity segment. We do not allocate marketing, general and administrative expenses to the debt and preferred equity segment since the use of personnel and resources is dependent on transaction volume between the two segments and varies period over period. In addition, we base performance on the individual segments prior to allocating marketing, general and administrative expenses. For the three and nine months ended September 30, 2018, marketing, general and administrative expenses totaled $20.6 million, and $66.6 million, respectively. For the three and nine months ended September 30, 2017, marketing, general and administrative expenses totaled $24.0 million, and $72.4 million, respectively. All other expenses, except interest, relate entirely to the real estate assets. There were no transactions between the above two segments.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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