XML 17 R4.htm IDEA: XBRL DOCUMENT v3.19.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
REVENUES        
Total revenues $ 196,656 $ 175,169 $ 394,045 $ 349,287
OPERATING EXPENSES        
Operating expenses 70,435 62,479 142,359 125,383
General and administrative 18,344 16,203 36,438 31,767
Depreciation and amortization 69,606 60,706 138,111 121,259
Total operating expenses 158,385 139,388 316,908 278,409
OTHER (EXPENSE) INCOME        
Loss from unconsolidated real estate investments (85) 0 (85) 0
Interest expense (26,552) (19,331) (50,902) (39,834)
Interest income 1,008 66 2,032 75
Transaction-related expenses 0 0 (128) (118)
Other income 181 319 75 723
Unrealized gain on non-real estate investment 0 928 0 928
Gains on sale of real estate 0 1,928 0 39,602
Impairment loss 0 0 (52,201) 0
Total other (expense) income (25,448) (16,090) (101,209) 1,376
Net income (loss) 12,823 19,691 (24,072) 72,254
Net income attributable to preferred units (153) (153) (306) (312)
Net income attributable to participating securities (48) (110) (356) (437)
Net income attributable to non-controlling interest in consolidated real estate entities (3,317) (3,167) (6,138) (6,490)
Net loss attributable to redeemable non-controlling interest in consolidated real estate entities 558 0 1,158 0
Net (income) loss attributable to non-controlling interest in the operating partnership (77) (59) 108 (236)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 9,786 $ 16,202 $ (29,606) $ 64,779
Basic and diluted per share/unit amounts:        
Net income (loss) attributable to common stockholders - basic (in dollars per share) $ 0.06 $ 0.10 $ (0.19) $ 0.42
Net income (loss) attributable to common stockholders - diluted (in dollars per share) $ 0.06 $ 0.10 $ (0.19) $ 0.41
Weighted average shares of common stock outstanding—basic (in shares) 154,384,586 155,636,636 154,390,340 155,631,375
Weighted average shares of common stock outstanding - diluted (in shares) 154,687,261 156,590,227 154,390,340 156,563,966
Hudson Pacific Partners L.P.        
REVENUES        
Total revenues $ 196,656 $ 175,169 $ 394,045 $ 349,287
OPERATING EXPENSES        
General and administrative 18,344 16,203 36,438 31,767
Depreciation and amortization 69,606 60,706 138,111 121,259
Total operating expenses 158,385 139,388 316,908 278,409
OTHER (EXPENSE) INCOME        
Loss from unconsolidated real estate investments (85) 0 (85) 0
Interest expense (26,552) (19,331) (50,902) (39,834)
Interest income 1,008 66 2,032 75
Transaction-related expenses 0 0 (128) (118)
Other income 181 319 75 723
Unrealized gain on non-real estate investment 0 928 0 928
Gains on sale of real estate 0 1,928 0 39,602
Impairment loss 0 0 (52,201) 0
Total other (expense) income 25,448 16,090 101,209 (1,376)
Net income (loss) 12,823 19,691 (24,072) 72,254
Net income attributable to preferred units (153) (153) (306) (312)
Net income attributable to participating securities (48) (110) (356) (437)
Net income attributable to non-controlling interest in consolidated real estate entities (3,317) (3,167) (6,138) (6,490)
Net loss attributable to redeemable non-controlling interest in consolidated real estate entities 558 0 1,158 0
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS 9,863 16,261 (29,714) 65,015
Net income (loss) attributable to Hudson Pacific Properties, L.P. $ 10,064 $ 16,524 $ (29,052) $ 65,764
Basic and diluted per share/unit amounts:        
Net (loss) income attributable to common unitholders —basic (in dollars per share) $ 0.06 $ 0.10 $ (0.19) $ 0.42
Net (loss) income attributable to common unitholders —diluted (in dollars per share) $ 0.06 $ 0.10 $ (0.19) $ 0.41
Weighted average shares of common units outstanding—basic (in shares) 155,105,359 156,205,681 155,047,979 156,198,825
Weighted average shares of common units outstanding—diluted (in shares) 156,175,004 157,159,272 155,047,979 157,131,416
Consolidated Office and Studio        
REVENUES        
Rental $ 172,256 $ 129,732 $ 342,453 $ 259,814
Tenant recoveries (Note 2) 0 21,960 0 42,864
Total revenues 179,047 158,550 354,905 315,082
OPERATING EXPENSES        
Operating expenses 60,896 53,940 121,711 107,180
Consolidated Office and Studio | Hudson Pacific Partners L.P.        
REVENUES        
Rental 172,256 129,732 342,453 259,814
Tenant recoveries (Note 2) 0 21,960 0 42,864
Total revenues 179,047 158,550 354,905 315,082
OPERATING EXPENSES        
Operating expenses 60,896 53,940 121,711 107,180
Consolidated Office and Studio | Service revenues (Note 2)        
REVENUES        
Revenues 6,791 6,858 12,452 12,404
Consolidated Office and Studio | Service revenues (Note 2) | Hudson Pacific Partners L.P.        
REVENUES        
Revenues 6,791 6,858 12,452 12,404
Unconsolidated Office        
REVENUES        
Rental 14,521 10,708 26,915 21,091
Tenant recoveries (Note 2) 0 500 0 854
Total revenues 17,609 16,619 39,140 34,205
OPERATING EXPENSES        
Operating expenses 9,539 8,539 20,648 18,203
Unconsolidated Office | Hudson Pacific Partners L.P.        
REVENUES        
Rental 14,521 10,708 26,915 21,091
Tenant recoveries (Note 2) 0 500 0 854
Total revenues 17,609 16,619 39,140 34,205
OPERATING EXPENSES        
Operating expenses 9,539 8,539 20,648 18,203
Unconsolidated Office | Service revenues and other (Note 2)        
REVENUES        
Revenues 3,088 5,411 12,225 12,260
Unconsolidated Office | Service revenues and other (Note 2) | Hudson Pacific Partners L.P.        
REVENUES        
Revenues $ 3,088 $ 5,411 $ 12,225 $ 12,260