XML 41 R23.htm IDEA: XBRL DOCUMENT v3.20.4
Segment Reporting
 12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The 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,
202020192018
Office segment
Total office revenues$735,919 $733,735 $652,517 
Office expenses(262,199)(256,209)(226,820)
Office segment profit473,720 477,526 425,697 
Studio segment
Total studio revenues69,046 84,447 75,901 
Studio expenses(37,580)(45,313)(40,890)
Studio segment profit31,466 39,134 35,011 
TOTAL SEGMENT PROFIT$505,186 $516,660 $460,708 
Total segment revenues$804,965 $818,182 $728,418 
Total segment expenses(299,779)(301,522)(267,710)
TOTAL SEGMENT PROFIT$505,186 $516,660 $460,708 

The table below is a reconciliation of the total profit from all segments to net income attributable to common stockholders:
Year Ended December 31,
202020192018
Total profit from all segments$505,186 $516,660 $460,708 
General and administrative(77,882)(71,947)(61,027)
Depreciation and amortization(299,682)(282,088)(251,003)
Income (loss) from unconsolidated real estate entities736 (747)— 
Fee income2,815 1,459 — 
Interest expense(116,477)(105,845)(83,167)
Interest income4,089 4,044 1,718 
Transaction-related expenses(440)(667)(535)
Unrealized (loss) gain on non-real estate investments(2,463)— 928 
Gains on sale of real estate— 47,100 43,337 
Impairment loss— (52,201)— 
Other income548 78 822 
NET INCOMEi$16,430 $55,846 $111,781