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Segment Reporting

12 Months Ended

Dec. 31, 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 our 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 our reportable segments:

						Year Ended December 31,
						2019						2018						2017
Office segment
Total office revenues						$	733,735					$	652,517					$	667,110
Office expenses						(256,209)						(226,820)						(218,873)
Office segment profit						477,526						425,697						448,237
Studio segment
Total studio revenues						84,447						75,901						61,029
Studio expenses						(45,313)						(40,890)						(34,634)
Studio segment profit						39,134						35,011						26,395
TOTAL SEGMENT PROFIT						$	516,660					$	460,708					$	474,632
Total revenues						$	818,182					$	728,418					$	728,139
Total segment expenses						(301,522)						(267,710)						(253,507)
TOTAL SEGMENT PROFIT						$	516,660					$	460,708					$	474,632

The table below is a reconciliation of the total profit from all segments to net income attributable to common stockholders:

						Year Ended December 31,
						2019						2018						2017
Total profit from all segments						$	516,660					$	460,708					$	474,632
General and administrative						(71,947)						(61,027)						(54,459)
Depreciation and amortization						(282,088)						(251,003)						(283,570)
Loss from unconsolidated real estate entity						(747)						—						—
Fee income						1,459						—						—
Interest expense						(105,845)						(83,167)						(90,037)
Interest income						4,044						1,718						97
Transaction-related expenses						(667)						(535)						(598)
Unrealized gain on non-real estate investments						—						928						—
Unrealized loss on ineffective portion of derivative instruments						—						—						(70)
Gains on sale of real estate						47,100						43,337						45,574
Impairment loss						(52,201)						—						—
Other income						78						822						2,992
Net income						$	55,846					$	111,781					$	94,561

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- References

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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

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