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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
REVENUES        
Revenues $ 175,169 $ 180,500 $ 349,287 $ 348,785
OPERATING EXPENSES        
General and administrative 16,203 14,506 31,767 28,316
Depreciation and amortization 60,706 75,415 121,259 146,182
TOTAL OPERATING EXPENSES 139,388 152,392 278,409 292,174
INCOME FROM OPERATIONS 35,781 28,108 70,878 56,611
OTHER EXPENSE (INCOME)        
Interest expense 19,331 21,695 39,834 43,625
Interest income (66) (16) (75) (46)
Unrealized loss on ineffective portion of derivatives 0 51 0 45
Unrealized gain on non-real estate investment (928) 0 (928) 0
Transaction-related expenses 0 0 118 0
Other income (319) (576) (723) (1,254)
TOTAL OTHER EXPENSES 18,018 21,154 38,226 42,370
INCOME BEFORE GAINS ON SALE OF REAL ESTATE 17,763 6,954 32,652 14,241
Gains on sale of real estate 1,928 0 39,602 16,866
NET INCOME 19,691 6,954 72,254 31,107
Net income attributable to preferred units (153) (159) (312) (318)
Net income attributable to participating securities (110) (255) (437) (495)
Net income attributable to non-controlling interest in consolidated entities (3,167) (2,974) (6,490) (6,011)
Net income attributable to non-controlling interest in the operating partnership (59) (13) (236) (215)
Net income attributable to Hudson Pacific Properties, Inc. common stockholders $ 16,202 $ 3,553 $ 64,779 $ 24,068
Basic and diluted per share/unit amounts:        
Net income attributable to common stockholders - basic (in dollars per share) $ 0.10 $ 0.02 $ 0.42 $ 0.16
Net income attributable to common stockholders - diluted (in dollars per share) $ 0.10 $ 0.02 $ 0.41 $ 0.16
Weighted average shares of common stock outstanding—basic (in shares) 155,636,636 155,290,559 155,631,375 151,640,853
Weighted average shares of common stock outstanding - diluted (in shares) 156,590,227 156,095,603 156,563,966 152,431,897
Dividends declared per share/unit (in dollars per share) $ 0.25 $ 0.250 $ 0.5 $ 0.500
Hudson Pacific Partners L.P.        
REVENUES        
Revenues $ 175,169 $ 180,500 $ 349,287 $ 348,785
OPERATING EXPENSES        
General and administrative 16,203 14,506 31,767 28,316
Depreciation and amortization 60,706 75,415 121,259 146,182
TOTAL OPERATING EXPENSES 139,388 152,392 278,409 292,174
INCOME FROM OPERATIONS 35,781 28,108 70,878 56,611
OTHER EXPENSE (INCOME)        
Interest expense 19,331 21,695 39,834 43,625
Interest income (66) (16) (75) (46)
Unrealized loss on ineffective portion of derivatives 0 51 0 45
Unrealized gain on non-real estate investment (928) 0 (928) 0
Transaction-related expenses 0 0 118 0
Other income (319) (576) (723) (1,254)
TOTAL OTHER EXPENSES 18,018 21,154 38,226 42,370
INCOME BEFORE GAINS ON SALE OF REAL ESTATE 17,763 6,954 32,652 14,241
Gains on sale of real estate 1,928 0 39,602 16,866
NET INCOME 19,691 6,954 72,254 31,107
Net income attributable to participating securities (110) (255) (437) (495)
Net income attributable to non-controlling interest in consolidated entities (3,167) (2,974) (6,490) (6,011)
Net income attributable to Hudson Pacific Properties, Inc. common stockholders 16,261 3,566 65,015 24,283
Comprehensive income attributable to preferred units (153) (159) (312) (318)
Net income attributable to Hudson Pacific Properties, L.P. $ 16,524 $ 3,980 $ 65,764 $ 25,096
Basic and diluted per share/unit amounts:        
Net income attributable to common unitholders —basic (in dollars per share) $ 0.10 $ 0.02 $ 0.42 $ 0.16
Net income attributable to common unitholders —diluted (in dollars per share) $ 0.10 $ 0.02 $ 0.41 $ 0.16
Weighted average shares of common units outstanding—basic (in shares) 156,205,681 155,859,604 156,198,825 152,647,055
Weighted average shares of common units outstanding—diluted (in shares) 157,159,272 156,664,648 157,131,416 153,438,100
Dividends declared per share/unit (in dollars per share) $ 0.250 $ 0.25 $ 0.5 $ 0.5
Office        
REVENUES        
Revenues $ 158,550 $ 166,852 $ 315,082 $ 323,668
OPERATING EXPENSES        
Operating expenses 53,940 55,468 107,180 103,422
Office | Hudson Pacific Partners L.P.        
REVENUES        
Revenues 158,550 166,852 315,082 323,668
OPERATING EXPENSES        
Operating expenses 53,940 55,468 107,180 103,422
Office | Rental        
REVENUES        
Revenues 129,732 133,602 259,814 267,118
Office | Rental | Hudson Pacific Partners L.P.        
REVENUES        
Revenues 129,732 133,602 259,814 267,118
Office | Tenant recoveries        
REVENUES        
Revenues 21,960 25,038 42,864 42,439
Office | Tenant recoveries | Hudson Pacific Partners L.P.        
REVENUES        
Revenues 21,960 25,038 42,864 42,439
Office | Parking and other        
REVENUES        
Revenues 6,858 8,212 12,404 14,111
Office | Parking and other | Hudson Pacific Partners L.P.        
REVENUES        
Revenues 6,858 8,212 12,404 14,111
Studio        
REVENUES        
Revenues 16,619 13,648 34,205 25,117
OPERATING EXPENSES        
Operating expenses 8,539 7,003 18,203 14,254
Studio | Hudson Pacific Partners L.P.        
REVENUES        
Revenues 16,619 13,648 34,205 25,117
OPERATING EXPENSES        
Operating expenses 8,539 7,003 18,203 14,254
Studio | Rental        
REVENUES        
Revenues 10,708 9,105 21,091 15,790
Studio | Rental | Hudson Pacific Partners L.P.        
REVENUES        
Revenues 10,708 9,105 21,091 15,790
Studio | Tenant recoveries        
REVENUES        
Revenues 500 129 854 794
Studio | Tenant recoveries | Hudson Pacific Partners L.P.        
REVENUES        
Revenues 500 129 854 794
Studio | Other property-related revenue        
REVENUES        
Revenues 5,301 4,361 11,736 8,403
Studio | Other property-related revenue | Hudson Pacific Partners L.P.        
REVENUES        
Revenues 5,301 4,361 11,736 8,403
Studio | Other        
REVENUES        
Revenues 110 53 524 130
Studio | Other | Hudson Pacific Partners L.P.        
REVENUES        
Revenues $ 110 $ 53 $ 524 $ 130