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Segment Reporting
 3 Months Ended
Mar. 31, 2013
Segment Reporting [Abstract]  
Segment Reporting
Segment Reporting

Segment information is prepared on the same basis that we review information for operational decision-making purposes.  We operate in two business segments: (i) the acquisition, redevelopment, ownership and management of office real estate and (ii) the acquisition, redevelopment, ownership and management of multifamily real estate.  The products for our office segment primarily include rental of office space and other tenant services, including parking and storage space rental.  The products for our multifamily segment include rental of apartments and other tenant services, including parking and storage space rental.

Asset information by segment is not reported because we do not use this measure to assess performance or make decisions to allocate resources.  Therefore, depreciation and amortization expense is not allocated among segments.  Interest and other income, management services, general and administrative expenses, interest expense, and net derivative gains and losses are not included in segment profit as our internal reporting addresses these items on a corporate level.

Segment profit is not a measure of operating income or cash flows from operating activities as measured by GAAP, and it is not indicative of cash available to fund cash needs and should not be considered an alternative to cash flows as a measure of liquidity.  Not all companies may calculate segment profit in the same manner.  We consider segment profit to be an appropriate supplemental measure to net income because it can assist both investors and management in understanding the core operations of our properties.

The following table represents operating activity within our reportable segments (in thousands):
 
Three Months Ended March 31,
Office Segment
2013
 
2012
Rental revenue
$
126,423

 
$
125,270

Rental expense
(41,309
)
 
(40,947
)
Segment profit
85,114

 
84,323

 
 
 
 
Multifamily Segment
 
 
 
Rental revenue
19,035

 
18,118

Rental expense
(5,009
)
 
(4,930
)
Segment profit
14,026

 
13,188

 
 
 
 
Total profit from all segments
$
99,140

 
$
97,511



The following table is a reconciliation of segment profit to net income attributable to common stockholders (in thousands):
 
Three Months Ended March 31,
 
2013
 
2012
Total profit from all segments
$
99,140

 
$
97,511

General and administrative expense
(7,096
)
 
(6,700
)
Depreciation and amortization
(46,024
)
 
(45,797
)
Other income
410

 
233

Income (loss), including depreciation, from unconsolidated real estate funds
1,189

 
(984
)
Interest expense
(32,832
)
 
(37,561
)
Acquisition-related expenses
(175
)
 
—

Net income
14,612

 
6,702

Less: Net income attributable to noncontrolling interests
(2,530
)
 
(1,316
)
Net income attributable to common stockholders
$
12,082

 
$
5,386