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Segment Reporting | 6 Months Ended
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Jun. 30, 2019
Segment Reporting [Abstract] |
Segment Reporting | Segment ReportingThe Company’s reporting segments are based on the Company’s method of internal reporting, which classifies its operations into two reporting segments: (i) office properties and (ii) studio properties. The Company evaluates performance based upon net operating income of the combined properties in each segment. General and administrative expenses and interest expense are not included in segment profit as its internal reporting addresses these items on a corporate level. Asset information by segment is not reported because the Company does not use this measure to assess performance or make decisions to allocate resources, therefore, depreciation and amortization expense is not allocated among segments. The table below presents the operating activity of the Company’s reportable segments:
| Three Months Ended June 30, |  |  |  | Six Months Ended June 30, |  |
| 2019 |  | 2018 |  | 2019 |  | 2018
Office segment |  |  |  |  |  |  |
Office revenues | $ | 179,047 |  | $ | 158,550 |  | $ | 354,905 |  | $ | 315,082
Office expenses | (60,896) |  | (53,940) |  | (121,711) |  | (107,180)
Office segment profit | 118,151 |  | 104,610 |  | 233,194 |  | 207,902
Studio segment |  |  |  |  |  |  |
Studio revenues | 17,609 |  | 16,619 |  | 39,140 |  | 34,205
Studio expenses | (9,539) |  | (8,539) |  | (20,648) |  | (18,203)
Studio segment profit | 8,070 |  | 8,080 |  | 18,492 |  | 16,002
TOTAL SEGMENT PROFIT | $ | 126,221 |  | $ | 112,690 |  | $ | 251,686 |  | $ | 223,904
Segment revenues | $ | 196,656 |  | $ | 175,169 |  | $ | 394,045 |  | $ | 349,287
Segment expenses | (70,435) |  | (62,479) |  | (142,359) |  | (125,383)
TOTAL SEGMENT PROFIT | $ | 126,221 |  | $ | 112,690 |  | $ | 251,686 |  | $ | 223,904
The table below is a reconciliation of the total profit from all segments to net income (loss):
| Three Months Ended June 30, |  |  |  | Six Months Ended June 30, |  |
| 2019 |  | 2018 |  | 2019 |  | 2018
Total profit from all segments | $ | 126,221 |  | $ | 112,690 |  | $ | 251,686 |  | $ | 223,904
General and administrative | (18,344) |  | (16,203) |  | (36,438) |  | (31,767)
Depreciation and amortization | (69,606) |  | (60,706) |  | (138,111) |  | (121,259)
Loss from unconsolidated real estate investments | (85) |  | — |  | (85) |  | —
Interest expense | (26,552) |  | (19,331) |  | (50,902) |  | (39,834)
Interest income | 1,008 |  | 66 |  | 2,032 |  | 75
Transaction-related expenses | — |  | — |  | (128) |  | (118)
Other income | 181 |  | 319 |  | 75 |  | 723
Unrealized gain on non-real estate investment | — |  | 928 |  | — |  | 928
Gains on sale of real estate | — |  | 1,928 |  | — |  | 39,602
Impairment loss | — |  | — |  | (52,201) |  | —
NET INCOME (LOSS) | $ | 12,823 |  | $ | 19,691 |  | $ | (24,072) |  | $ | 72,254

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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