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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
REVENUES        
TOTAL REVENUES $ 190,021,000 $ 164,583,000 $ 538,806,000 $ 472,441,000
OPERATING EXPENSES        
General and administrative 13,013,000 12,955,000 41,329,000 38,474,000
Depreciation and amortization 71,158,000 67,414,000 217,340,000 201,890,000
TOTAL OPERATING EXPENSES 153,861,000 140,843,000 446,035,000 409,879,000
INCOME FROM OPERATIONS 36,160,000 23,740,000 92,771,000 62,562,000
OTHER EXPENSE (INCOME)        
Interest expense 22,461,000 19,910,000 66,086,000 54,775,000
Interest income (44,000) (130,000) (90,000) (216,000)
Unrealized loss (gain) on ineffective portion of derivative instruments 37,000 (879,000) 82,000 1,630,000
Transaction-related expenses 598,000 315,000 598,000 376,000
Other income (1,402,000) (693,000) (2,656,000) (716,000)
TOTAL OTHER EXPENSES 21,650,000 18,523,000 64,020,000 55,849,000
INCOME BEFORE GAINS ON SALE OF REAL ESTATE 14,510,000 5,217,000 28,751,000 6,713,000
Gains on sale of real estate 0 0 16,866,000 8,515,000
NET INCOME 14,510,000 5,217,000 45,617,000 15,228,000
Net income attributable to preferred units (159,000) (159,000) (477,000) (477,000)
Net income attributable to participating securities (255,000) (196,000) (750,000) (589,000)
Net income attributable to non-controlling interest in consolidated entities (2,991,000) (2,525,000) (9,002,000) (6,866,000)
Net income attributable to non-controlling interest in units in the operating partnership (41,000) (490,000) (256,000) (2,357,000)
Net income attributable to Hudson Pacific Properties, Inc. common stockholders $ 11,064,000 $ 1,847,000 $ 35,132,000 $ 4,939,000
Basic and diluted per share/unit amounts:        
Net income attributable to common stockholders - basic (in dollars per share) $ 0.07 $ 0.02 $ 0.23 $ 0.05
Net income attributable to common stockholders - diluted (in dollars per share) $ 0.07 $ 0.02 $ 0.23 $ 0.05
Weighted average shares of common stock outstanding—basic (in shares) 155,302,800 115,083,622 152,874,952 99,862,583
Weighted average shares of common stock outstanding - diluted (in shares) 156,093,736 116,262,622 153,648,888 100,979,583
Dividends declared per share/unit (in dollars per share) $ 0.25 $ 0.200 $ 0.750 $ 0.600
Hudson Pacific Partners L.P.        
REVENUES        
TOTAL REVENUES $ 190,021,000 $ 164,583,000 $ 538,806,000 $ 472,441,000
OPERATING EXPENSES        
General and administrative 13,013,000 12,955,000 41,329,000 38,474,000
Depreciation and amortization 71,158,000 67,414,000 217,340,000 201,890,000
TOTAL OPERATING EXPENSES 153,861,000 140,843,000 446,035,000 409,879,000
INCOME FROM OPERATIONS 36,160,000 23,740,000 92,771,000 62,562,000
OTHER EXPENSE (INCOME)        
Interest expense 22,461,000 19,910,000 66,086,000 54,775,000
Interest income (44,000) (130,000) (90,000) (216,000)
Unrealized loss (gain) on ineffective portion of derivative instruments 37,000 (879,000) 82,000 1,630,000
Transaction-related expenses 598,000 315,000 598,000 376,000
Other income (1,402,000) (693,000) (2,656,000) (716,000)
TOTAL OTHER EXPENSES 21,650,000 18,523,000 64,020,000 55,849,000
INCOME BEFORE GAINS ON SALE OF REAL ESTATE 14,510,000 5,217,000 28,751,000 6,713,000
Gains on sale of real estate 0 0 16,866,000 8,515,000
NET INCOME 14,510,000 5,217,000 45,617,000 15,228,000
Net income attributable to participating securities (255,000) (196,000) (750,000) (589,000)
Net income attributable to non-controlling interest in consolidated entities (2,991,000) (2,525,000) (9,002,000) (6,866,000)
Net income attributable to Hudson Pacific Properties, Inc. common stockholders 11,105,000 2,337,000 35,388,000 7,296,000
Comprehensive income attributable to preferred units (159,000) (159,000) (477,000) (477,000)
Net income attributable to Hudson Pacific Properties, L.P. $ 11,519,000 $ 2,692,000 $ 36,615,000 $ 8,362,000
Basic and diluted per share/unit amounts:        
Net income attributable to common stockholders - basic (in dollars per share) $ 0.07 $ 0.02 $ 0.23 $ 0.05
Net income attributable to common stockholders - diluted (in dollars per share) 0.07 0.02 0.23 0.05
Net income attributable to common unitholders —basic (in dollars per share) 0.07 0.02 0.23 0.05
Net income attributable to common unitholders —diluted (in dollars per share) $ 0.07 $ 0.02 $ 0.23 $ 0.05
Weighted average shares of common units outstanding—basic (in shares) 155,871,845 145,614,312 153,736,796 145,550,685
Weighted average shares of common units outstanding—diluted (in shares) 156,662,781 146,793,312 154,510,732 146,667,685
Dividends declared per share/unit (in dollars per share) $ 0.250 $ 0.200 $ 0.750 $ 0.600
Office        
REVENUES        
Rental $ 139,157,000 $ 123,919,000 $ 406,275,000 $ 358,193,000
Tenant recoveries 24,982,000 22,657,000 67,421,000 64,493,000
Parking and other 8,035,000 5,521,000 22,146,000 16,103,000
TOTAL REVENUES 172,174,000 152,097,000 495,842,000 438,789,000
OPERATING EXPENSES        
Operating expenses 59,102,000 53,975,000 162,524,000 150,769,000
Office | Hudson Pacific Partners L.P.        
REVENUES        
Rental 139,157,000 123,919,000 406,275,000 358,193,000
Tenant recoveries 24,982,000 22,657,000 67,421,000 64,493,000
Parking and other 8,035,000 5,521,000 22,146,000 16,103,000
TOTAL REVENUES 172,174,000 152,097,000 495,842,000 438,789,000
OPERATING EXPENSES        
Operating expenses 59,102,000 53,975,000 162,524,000 150,769,000
Media & Entertainment        
REVENUES        
Rental 11,012,000 7,102,000 26,802,000 19,987,000
Tenant recoveries 133,000 243,000 927,000 655,000
Other property-related revenue 6,561,000 5,005,000 14,964,000 12,784,000
Parking and other 141,000 136,000 271,000 226,000
TOTAL REVENUES 17,847,000 12,486,000 42,964,000 33,652,000
OPERATING EXPENSES        
Operating expenses 10,588,000 6,499,000 24,842,000 18,746,000
Media & Entertainment | Hudson Pacific Partners L.P.        
REVENUES        
Rental 11,012,000 7,102,000 26,802,000 19,987,000
Tenant recoveries 133,000 243,000 927,000 655,000
Other property-related revenue 6,561,000 5,005,000 14,964,000 12,784,000
Parking and other 141,000 136,000 271,000 226,000
TOTAL REVENUES 17,847,000 12,486,000 42,964,000 33,652,000
OPERATING EXPENSES        
Operating expenses $ 10,588,000 $ 6,499,000 $ 24,842,000 $ 18,746,000