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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
REVENUES        
TOTAL REVENUES $ 164,583,000 $ 151,556,000 $ 472,441,000 $ 366,199,000
OPERATING EXPENSES        
General and administrative 12,955,000 9,378,000 38,474,000 28,951,000
Depreciation and amortization 67,414,000 80,195,000 201,890,000 170,945,000
TOTAL OPERATING EXPENSES 140,843,000 147,391,000 409,879,000 332,614,000
INCOME FROM OPERATIONS 23,740,000 4,165,000 62,562,000 33,585,000
OTHER EXPENSE (INCOME)        
Interest expense 19,910,000 14,461,000 54,775,000 34,067,000
Interest income (130,000) (17,000) (216,000) (118,000)
Unrealized (gain) loss on ineffective portion of derivative instruments (879,000) 0 1,630,000 0
Acquisition-related expenses (expense reimbursements) 315,000 (83,000) 376,000 43,442,000
Other (income) expense (693,000) 3,000 (716,000) 2,000
TOTAL OTHER EXPENSES 18,523,000 14,364,000 55,849,000 77,393,000
INCOME (LOSS) BEFORE GAINS ON SALE OF REAL ESTATE 5,217,000 (10,199,000) 6,713,000 (43,808,000)
Gains on sale of real estate 0 8,371,000 8,515,000 30,471,000
NET INCOME (LOSS) 5,217,000 (1,828,000) 15,228,000 (13,337,000)
Net income attributable to preferred stock and units (159,000) (3,195,000) (477,000) (9,585,000)
Net income attributable to participating securities (196,000) (79,000) (589,000) (229,000)
Net income attributable to non-controlling interest in consolidated real estate entities (2,525,000) (1,273,000) (6,866,000) (4,668,000)
Net (income) loss attributable to common units in the operating partnership (490,000) 2,470,000 (2,357,000) 17,872,000
Net income (loss) attributable to Hudson Pacific Properties, Inc. common stockholders $ 1,847,000 $ (3,905,000) $ 4,939,000 $ (9,947,000)
Net income (loss) attributable to common stockholders' per share - basic (in dollars per share) $ 0.02 $ (0.04) $ 0.05 $ (0.12)
Net income (loss) attributable to common stockholders' per share - diluted (in dollars per share) $ 0.02 $ (0.04) $ 0.05 $ (0.12)
Weighted average shares of common stock outstanding—basic (in shares) 115,083,622 88,984,236 99,862,583 84,894,863
Weighted average shares of common stock outstanding - diluted (in shares) 116,262,622 88,984,236 100,979,583 84,894,863
Dividends declared per common stock (in dollars per share) $ 0.2 $ 0.125 $ 0.6 $ 0.375
Hudson Pacific Partners L.P.        
REVENUES        
TOTAL REVENUES $ 164,583,000 $ 151,556,000 $ 472,441,000 $ 366,199,000
OPERATING EXPENSES        
General and administrative 12,955,000 9,378,000 38,474,000 28,951,000
Depreciation and amortization 67,414,000 80,195,000 201,890,000 170,945,000
TOTAL OPERATING EXPENSES 140,843,000 147,391,000 409,879,000 332,614,000
INCOME FROM OPERATIONS 23,740,000 4,165,000 62,562,000 33,585,000
OTHER EXPENSE (INCOME)        
Interest expense 19,910,000 14,461,000 54,775,000 34,067,000
Interest income (130,000) (17,000) (216,000) (118,000)
Unrealized (gain) loss on ineffective portion of derivative instruments (879,000) 0 1,630,000 0
Acquisition-related expenses (expense reimbursements) 315,000 (83,000) 376,000 43,442,000
Other (income) expense (693,000) 3,000 (716,000) 2,000
TOTAL OTHER EXPENSES 18,523,000 14,364,000 55,849,000 77,393,000
INCOME (LOSS) BEFORE GAINS ON SALE OF REAL ESTATE 5,217,000 (10,199,000) 6,713,000 (43,808,000)
Gains on sale of real estate 0 8,371,000 8,515,000 30,471,000
NET INCOME (LOSS) 5,217,000 (1,828,000) 15,228,000 (13,337,000)
Net income attributable to non-controlling interest in consolidated real estate entities (2,525,000) (1,273,000) (6,866,000) (4,668,000)
Net income (loss) attributable to Hudson Pacific Properties, Inc. common stockholders $ 2,692,000 $ (3,101,000) $ 8,362,000 $ (18,005,000)
Dividends declared per common stock (in dollars per share) $ 0.2 $ 0.125 $ 0.6 $ 0.375
Preferred Series A and B distributions $ (159,000) $ (3,195,000) $ (477,000) $ (9,585,000)
Net income attributable to restricted shares (196,000) (79,000) (589,000) (229,000)
Net (loss) income available to common unitholders $ 2,337,000 $ (6,375,000) $ 7,296,000 $ (27,819,000)
Net income (loss) attributable to common unitholders per unit—basic (in dollars per share) $ 0.02 $ (0.04) $ 0.05 $ (0.23)
Net income (loss) attributable to common unitholders per unit—diluted (in dollars per share) $ 0.02 $ (0.04) $ 0.05 $ (0.23)
Weighted average shares of common units outstanding—basic (in shares) 145,614,312 145,280,551 145,550,685 123,441,945
Weighted average shares of common units outstanding—diluted (in shares) 146,793,312 145,280,551 146,667,685 123,441,945
Office        
REVENUES        
Rental $ 123,919,000 $ 114,693,000 $ 358,193,000 $ 276,321,000
Tenant recoveries 22,657,000 20,036,000 64,493,000 43,890,000
Parking and other 5,521,000 6,601,000 16,103,000 17,612,000
TOTAL REVENUES 152,097,000 141,330,000 438,789,000 337,823,000
OPERATING EXPENSES        
Operating expenses 53,975,000 51,538,000 150,769,000 115,364,000
Office | Hudson Pacific Partners L.P.        
REVENUES        
Rental 123,919,000 114,693,000 358,193,000 276,321,000
Tenant recoveries 22,657,000 20,036,000 64,493,000 43,890,000
Parking and other 5,521,000 6,601,000 16,103,000 17,612,000
TOTAL REVENUES 152,097,000 141,330,000 438,789,000 337,823,000
OPERATING EXPENSES        
Operating expenses 53,975,000 51,538,000 150,769,000 115,364,000
Media & Entertainment        
REVENUES        
Rental 7,102,000 6,041,000 19,987,000 16,902,000
Tenant recoveries 243,000 212,000 655,000 705,000
Parking and other 136,000 113,000 226,000 244,000
Other property-related revenue 5,005,000 3,860,000 12,784,000 10,525,000
TOTAL REVENUES 12,486,000 10,226,000 33,652,000 28,376,000
OPERATING EXPENSES        
Operating expenses 6,499,000 6,280,000 18,746,000 17,354,000
Media & Entertainment | Hudson Pacific Partners L.P.        
REVENUES        
Rental 7,102,000 6,041,000 19,987,000 16,902,000
Tenant recoveries 243,000 212,000 655,000 705,000
Parking and other 136,000 113,000 226,000 244,000
Other property-related revenue 5,005,000 3,860,000 12,784,000 10,525,000
TOTAL REVENUES 12,486,000 10,226,000 33,652,000 28,376,000
OPERATING EXPENSES        
Operating expenses $ 6,499,000 $ 6,280,000 $ 18,746,000 $ 17,354,000