XML 24 R4.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Revenues      
Total revenues $ 520,850 $ 253,415 $ 205,558
Operating expenses      
General and administrative 38,534 28,253 19,952
Depreciation and amortization 245,071 72,216 70,063
Total operating expenses 473,462 204,738 177,598
Income from operations 47,388 48,677 27,960
Other expense (income)      
Interest expense 50,667 25,932 25,470
Interest income (124) (30) (272)
Acquisition-related expenses 43,336 4,641 1,446
Other expense (income) 62 (14) (99)
Total other expenses 93,941 30,529 26,545
(Loss) income from continuing operations before gain on sale of real estate (46,553) 18,148 1,415
Gain on sale of real estate 30,471 5,538 0
(Loss) income from continuing operations (16,082) 23,686 1,415
(Loss) income from discontinued operations 0 (164) 1,571
Impairment loss from discontinued operations 0 0 (5,580)
Net (loss) income from discontinued operations 0 (164) (4,009)
Net (loss) income (16,082) 23,522 (2,594)
Net income attributable to preferred stock and units (12,105) (12,785) (12,893)
Original issuance costs of redeemed Series B preferred stock (5,970) 0 0
Net income attributable to restricted shares (356) (274) (300)
Net (income) loss attributable to non-controlling interest in consolidated entities (3,853) (149) 321
Net loss (income) attributable to common units in the Operating Partnership 21,969 (359) 633
Net (loss) income attributable to Hudson Pacific Properties, Inc. common stockholders $ (16,397) $ 9,955 $ (14,833)
Net loss (income) from continuing operations attributable to common stockholders’ per share— basic and diluted (in dollars per share) $ (0.19) $ 0.15 $ (0.20)
Net (loss) income from discontinued operations per share— basic and diluted (in dollars per share) 0.00 0.00 (0.07)
Net income (loss) attributable to common stockholders’ per share—basic (in dollars per share) (0.19) 0.15 (0.27)
Net income (loss) attributable to common stockholders’ per share—diluted (in dollars per share) $ (0.19) $ 0.15 $ (0.27)
Weighted average shares of common stock outstanding—basic (in shares) 85,927,216 65,792,447 55,182,647
Weighted average shares of common stock outstanding—diluted (in shares) 85,927,216 66,509,447 55,182,647
Office      
Revenues      
Rental $ 394,543 $ 156,806 $ 124,839
Tenant recoveries 66,235 34,509 25,870
Parking and other 20,940 22,471 14,732
Total revenues 481,718 213,786 165,441
Operating expenses      
Operating expenses 166,131 78,372 63,434
Media & Entertainment      
Revenues      
Rental 23,027 22,138 23,003
Tenant recoveries 943 1,128 1,807
Other property-related revenue 14,849 15,751 15,072
Parking and other 313 612 235
Total revenues 39,132 39,629 40,117
Operating expenses      
Operating expenses 23,726 25,897 24,149
Hudson Pacific Partners, L.P.      
Revenues      
Total revenues 520,850 253,415 205,558
Operating expenses      
General and administrative 38,534 28,253 19,952
Depreciation and amortization 245,071 72,216 70,063
Total operating expenses 473,462 204,738 177,598
Income from operations 47,388 48,677 27,960
Other expense (income)      
Interest expense 50,667 25,932 25,470
Interest income (124) (30) (272)
Acquisition-related expenses 43,336 4,641 1,446
Other expense (income) 62 (14) (99)
Total other expenses 93,941 30,529 26,545
(Loss) income from continuing operations before gain on sale of real estate (46,553) 18,148 1,415
Gain on sale of real estate 30,471 5,538 0
(Loss) income from continuing operations (16,082) 23,686 1,415
(Loss) income from discontinued operations 0 (164) 1,571
Impairment loss from discontinued operations 0 0 (5,580)
Net (loss) income from discontinued operations 0 (164) (4,009)
Net (loss) income (16,082) 23,522 (2,594)
Original issuance costs of redeemed Series B preferred stock (5,970) 0 0
Net income attributable to restricted shares (356) (274) (300)
Net (income) loss attributable to non-controlling interest in consolidated entities (3,853) (149) 321
Net (loss) income attributable to Hudson Pacific Properties, Inc. common stockholders (19,935) 23,373 (2,273)
Preferred distributions (18,075) (12,785) (12,893)
Net income attributable to restricted shares (356) (274) (300)
Net (loss) income available to common unitholders $ (38,366) $ 10,314 $ (15,466)
Net (loss) income from continuing operations attributable to common unitholders (in dollars per share) $ (0.30) $ 0.15 $ (0.20)
Net income (loss) from discontinued operations (in dollars per share) 0.00 0.00 (0.07)
Net (loss) income attributable to common unitholders per unit—basic and diluted (in dollars per share) (0.30) 0.15 (0.27)
Net (loss) income attributable to common unitholders per unit—diluted (in dollars per share) $ (0.30) $ 0.15 $ (0.27)
Weighted average shares of common units outstanding—basic and diluted (in shares) 128,948,077 68,175,010 57,565,210
Weighted average shares of common units outstanding—diluted (in shares) 128,948,077 68,721,339 57,565,210
Hudson Pacific Partners, L.P. | Series A Preferred Stock      
Other expense (income)      
Preferred distributions $ (636) $ (641) $ (749)
Hudson Pacific Partners, L.P. | Series B Preferred Stock      
Other expense (income)      
Original issuance costs of redeemed Series B preferred stock 5,970 0 0
Preferred distributions (11,469) (12,144) (12,144)
Hudson Pacific Partners, L.P. | Office      
Revenues      
Rental 394,543 156,806 124,839
Tenant recoveries 66,235 34,509 25,870
Parking and other 20,940 22,471 14,732
Total revenues 481,718 213,786 165,441
Operating expenses      
Operating expenses 166,131 78,372 63,434
Hudson Pacific Partners, L.P. | Media & Entertainment      
Revenues      
Rental 23,027 22,138 23,003
Tenant recoveries 943 1,128 1,807
Other property-related revenue 14,849 15,751 15,072
Parking and other 313 612 235
Total revenues 39,132 39,629 40,117
Operating expenses      
Operating expenses $ 23,726 $ 25,897 $ 24,149