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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
REVENUES        
Revenues $ 180,698 $ 190,021 $ 529,985 $ 538,806
OPERATING EXPENSES        
General and administrative 14,280 13,013 46,047 41,329
Depreciation and amortization 62,224 71,158 183,483 217,340
Total operating expense 144,310 153,861 422,719 446,035
Operating Income 36,388 36,160 107,266 92,771
OTHER EXPENSE (INCOME)        
Interest expense 20,131 22,461 59,965 66,086
Interest income (418) (44) (493) (90)
Unrealized gain on non-real estate investment 0 0 (928) 0
Unrealized loss on ineffective portion of derivative instrument 0 37 0 82
Transaction-related expenses 165 598 283 598
Other income (25) (1,402) (748) (2,656)
Total other expenses 19,853 21,650 58,079 64,020
Income before gains on sale of real estate 16,535 14,510 49,187 28,751
Gains on sale of real estate 3,735 0 43,337 16,866
Net Income 20,270 14,510 92,524 45,617
Net income attributable to preferred units (153) (159) (465) (477)
Net income attributable to participating securities (118) (255) (555) (750)
Net income attributable to non-controlling interest in consolidated entities (2,569) (2,991) (9,059) (9,002)
Net income attributable to non-controlling interest in the operating partnership (63) (41) (299) (256)
Net income attributable to Hudson Pacific Properties, Inc. common stockholders $ 17,367 $ 11,064 $ 82,146 $ 35,132
Basic and diluted per share/unit amounts:        
Net income attributable to common stockholders - basic (in dollars per share) $ 0.11 $ 0.07 $ 0.53 $ 0.23
Net income attributable to common stockholders - diluted (in dollars per share) $ 0.11 $ 0.07 $ 0.52 $ 0.23
Weighted average shares of common stock outstanding—basic (in shares) 155,649,110 155,302,800 155,637,351 152,874,952
Weighted average shares of common stock outstanding - diluted (in shares) 156,669,247 156,093,736 156,628,488 153,648,888
Hudson Pacific Partners L.P.        
REVENUES        
Revenues $ 180,698 $ 190,021 $ 529,985 $ 538,806
OPERATING EXPENSES        
General and administrative 14,280 13,013 46,047 41,329
Depreciation and amortization 62,224 71,158 183,483 217,340
Total operating expense 144,310 153,861 422,719 446,035
Operating Income 36,388 36,160 107,266 92,771
OTHER EXPENSE (INCOME)        
Interest expense 20,131 22,461 59,965 66,086
Interest income (418) (44) (493) (90)
Unrealized gain on non-real estate investment 0 0 (928) 0
Unrealized loss on ineffective portion of derivative instrument 0 37 0 82
Transaction-related expenses 165 598 283 598
Other income (25) (1,402) (748) (2,656)
Total other expenses 19,853 21,650 58,079 64,020
Income before gains on sale of real estate 16,535 14,510 49,187 28,751
Gains on sale of real estate 3,735 0 43,337 16,866
Net Income 20,270 14,510 92,524 45,617
Net income attributable to participating securities (118) (255) (555) (750)
Net income attributable to non-controlling interest in consolidated entities (2,569) (2,991) (9,059) (9,002)
Net income attributable to Hudson Pacific Properties, Inc. common stockholders 17,430 11,105 82,445 35,388
Comprehensive income attributable to preferred units (153) (159) (465) (477)
Net income attributable to Hudson Pacific Properties, L.P. $ 17,701 $ 11,519 $ 83,465 $ 36,615
Basic and diluted per share/unit amounts:        
Net income attributable to common unitholders —basic (in dollars per share) $ 0.11 $ 0.07 $ 0.53 $ 0.23
Net income attributable to common unitholders —diluted (in dollars per share) $ 0.11 $ 0.07 $ 0.52 $ 0.23
Weighted average shares of common units outstanding—basic (in shares) 156,218,155 155,871,845 156,206,396 153,736,796
Weighted average shares of common units outstanding—diluted (in shares) 157,238,292 156,662,781 157,197,533 154,510,732
Office        
REVENUES        
Revenues $ 161,446 $ 172,174 $ 476,528 $ 495,842
OPERATING EXPENSES        
Operating expenses 57,295 59,102 164,475 162,524
Office | Hudson Pacific Partners L.P.        
REVENUES        
Revenues 161,446 172,174 476,528 495,842
OPERATING EXPENSES        
Operating expenses 57,295 59,102 164,475 162,524
Office | Rental        
REVENUES        
Revenues 129,963 139,157 389,777 406,275
Office | Rental | Hudson Pacific Partners L.P.        
REVENUES        
Revenues 129,963 139,157 389,777 406,275
Office | Tenant recoveries        
REVENUES        
Revenues 24,615 24,982 67,479 67,421
Office | Tenant recoveries | Hudson Pacific Partners L.P.        
REVENUES        
Revenues 24,615 24,982 67,479 67,421
Office | Parking and other        
REVENUES        
Revenues 6,868 8,035 19,272 22,146
Office | Parking and other | Hudson Pacific Partners L.P.        
REVENUES        
Revenues 6,868 8,035 19,272 22,146
Studio        
REVENUES        
Revenues 19,252 17,847 53,457 42,964
OPERATING EXPENSES        
Operating expenses 10,511 10,588 28,714 24,842
Studio | Hudson Pacific Partners L.P.        
REVENUES        
Revenues 19,252 17,847 53,457 42,964
OPERATING EXPENSES        
Operating expenses 10,511 10,588 28,714 24,842
Studio | Rental        
REVENUES        
Revenues 11,731 11,012 32,822 26,802
Studio | Rental | Hudson Pacific Partners L.P.        
REVENUES        
Revenues 11,731 11,012 32,822 26,802
Studio | Tenant recoveries        
REVENUES        
Revenues 299 133 1,153 927
Studio | Tenant recoveries | Hudson Pacific Partners L.P.        
REVENUES        
Revenues 299 133 1,153 927
Studio | Other property-related revenue        
REVENUES        
Revenues 6,988 6,561 18,724 14,964
Studio | Other property-related revenue | Hudson Pacific Partners L.P.        
REVENUES        
Revenues 6,988 6,561 18,724 14,964
Studio | Other        
REVENUES        
Revenues 234 141 758 271
Studio | Other | Hudson Pacific Partners L.P.        
REVENUES        
Revenues $ 234 $ 141 $ 758 $ 271