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Equity | 9 Months Ended
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Sep. 30, 2018
Equity [Abstract] |
Equity | EquityThe table below presents the effect of the Company’s derivatives on accumulated other comprehensive income (“OCI”):
|  | Hudson Pacific Properties, Inc. Stockholders’ Equity |  | Non-controlling Interests |  | Total Equity
Balance at January 1, 2018 |  | $ | 13,227 |  | $ | 49 |  | $ | 13,276
Unrealized gain recognized in OCI due to change in fair value |  | 16,159 |  | 58 |  | 16,217
Income reclassified from OCI into income (as interest expense) |  | (1,782) |  | (6) |  | (1,788)
Net change in OCI |  | 14,377 |  | 52 |  | 14,429
Cumulative adjustment related to adoption of ASU 2017-12 |  | 230 |  | 1 |  | 231
BALANCE AT SEPTEMBER 30, 2018 |  | $ | 27,834 |  | $ | 102 |  | $ | 27,936
Non-controlling Interests Common units in the operating partnership Common units of the operating partnership and shares of common stock of the Company have essentially the same economic characteristics, as they share equally in the total net income or loss distributions of the operating partnership. Investors who own common units have the right to cause the operating partnership to repurchase any or all of their common units for cash equal to the then-current market value of one share of common stock or, at the Company’s election, issue shares of the Company’s common stock in exchange for common units on a one-for-one basis. The following table summarizes the ownership of common units, excluding unvested restricted units as of:
| September 30, 2018 |  | December 31, 2017
Company-owned common units in the operating partnership | 155,649,125 |  | 155,602,508
Company’s ownership interest percentage | 99.6 | % |  | 99.6 | %
Non-controlling common units in the operating partnership(1) | 569,045 |  | 569,045
Non-controlling ownership interest percentage(1) | 0.4 | % |  | 0.4 | %
_________________ 1. Represents common units held by certain of the Company’s executive officers and directors, certain of their affiliates and other outside investors. Performance units in the operating partnership Performance units are partnership interests in the operating partnership. Each performance unit awarded will be deemed equivalent to an award of one share of common stock under the 2010 Plan, reducing the availability for other equity awards on a one-for-one basis. Under the terms of the performance units, the operating partnership will revalue its assets for tax purposes upon the occurrence of certain specified events and any increase in valuation from the time of grant until such event will be allocated first to the holders of performance units to equalize the capital accounts of such holders with the capital accounts of common unitholders. Subject to any agreed upon exceptions, once vested and having achieved parity with common unitholders, performance units are convertible into common units in the operating partnership on a one-for-one basis. Common Stock Activity The Company has not completed any common stock offerings in 2018. The Company’s at-the-market, or ATM, program permits sales of up to $125.0 million of common stock. The Company did not utilize the ATM program during the nine months ended September 30, 2018. A cumulative total of $20.1 million has been sold as of September 30, 2018. Share repurchase program On January 20, 2016, the Board authorized a share repurchase program to buy up to $100.0 million of the outstanding common stock of Hudson Pacific Properties, Inc., which the Board increased to a total of $250.0 million on March 8, 2018. The Company may determine to commence repurchases under the program at any time in its discretion, subject to market conditions, applicable legal requirements and other factors. No share repurchases have been made as of September 30, 2018. Dividends The Board declared dividends on a quarterly basis and the Company paid the dividends during the quarters in which the dividends were declared. The following table summarizes dividends declared and paid for the periods presented:
| Three Months Ended September 30, |  |  |  | Nine Months Ended September 30, |  |
| 2018 |  | 2017 |  | 2018 |  | 2017
Common stock(1) | $ | 0.25 |  | $ | 0.25 |  | $ | 0.75 |  | $ | 0.75
Common units (1) | $ | 0.25 |  | $ | 0.25 |  | $ | 0.75 |  | $ | 0.75
Series A preferred units (1) | $ | 0.3906 |  | $ | 0.3906 |  | $ | 1.1718 |  | $ | 1.1718
_________________ 1. The third quarter dividends were paid on September 28, 2018 to shareholders and unitholders of record on September 18, 2018. Taxability of Dividends Earnings and profits, which determine the taxability of distributions to stockholders, may differ from income reported for financial reporting purposes due to the differences for federal income tax purposes in the treatment of loss on extinguishment of debt, revenue recognition, compensation expense and the basis of depreciable assets and estimated useful lives used to compute depreciation.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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