XML 18 R4.htm IDEA: XBRL DOCUMENT v3.21.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
REVENUES        
Total revenues $ 215,602 $ 198,610 $ 428,721 $ 404,837
OPERATING EXPENSES        
Operating expenses 81,577 72,562 159,592 147,072
General and administrative 17,109 17,897 35,558 36,515
Depreciation and amortization 84,178 73,516 166,939 147,279
Total operating expenses 182,864 163,975 362,089 330,866
OTHER INCOME (EXPENSE)        
Income from unconsolidated real estate entities 470 410 1,105 174
Fee income 797 556 1,645 1,166
Interest expense (30,689) (27,930) (60,975) (54,347)
Interest income 937 1,048 1,934 2,073
Management services reimbursement income—unconsolidated real estate entities 626 0 626 0
Management services expense—unconsolidated real estate entities (626) 0 (626) 0
Transaction-related expenses (1,064) (157) (1,064) (259)
Unrealized gain (loss) on non-real estate investments 5,018 (2,267) 10,793 (2,848)
Other (expense) income (1,177) 716 (1,629) 1,030
Total other expense (25,708) (27,624) (48,191) (53,011)
Net income 7,030 7,011 18,441 20,960
Net income attributable to preferred units (153) (153) (306) (306)
Net income attributable to participating securities (276) (10) (554) (39)
Net income attributable to non-controlling interest in consolidated real estate entities (5,549) (3,890) (12,179) (7,407)
Net loss attributable to redeemable non-controlling interest in consolidated real estate entities 1,282 770 1,964 1,403
Net income attributable to non-controlling interest in the operating partnership (19) (37) (69) (143)
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 2,315 $ 3,691 $ 7,297 $ 14,468
BASIC AND DILUTED PER SHARE AMOUNTS        
Net income attributable to common stockholders - basic (in dollars per share) $ 0.02 $ 0.02 $ 0.05 $ 0.09
Net income attributable to common stockholders - diluted (in dollars per share) $ 0.02 $ 0.02 $ 0.05 $ 0.09
Weighted average shares of common stock outstanding—basic (in shares) 151,169,612 153,306,976 150,997,564 153,869,789
Weighted average shares of common stock outstanding—diluted 152,683,463 155,621,513 151,302,845 156,515,326
Hudson Pacific Partners L.P.        
REVENUES        
Total revenues $ 215,602 $ 198,610 $ 428,721 $ 404,837
OPERATING EXPENSES        
General and administrative 17,109 17,897 35,558 36,515
Depreciation and amortization 84,178 73,516 166,939 147,279
Total operating expenses 182,864 163,975 362,089 330,866
OTHER INCOME (EXPENSE)        
Income from unconsolidated real estate entities 470 410 1,105 174
Fee income 797 556 1,645 1,166
Interest expense (30,689) (27,930) (60,975) (54,347)
Interest income 937 1,048 1,934 2,073
Management services reimbursement income—unconsolidated real estate entities 626 0 626 0
Management services expense—unconsolidated real estate entities (626) 0 (626) 0
Transaction-related expenses (1,064) (157) (1,064) (259)
Unrealized gain (loss) on non-real estate investments 5,018 (2,267) 10,793 (2,848)
Other (expense) income (1,177) 716 (1,629) 1,030
Total other expense (25,708) (27,624) (48,191) (53,011)
Net income 7,030 7,011 18,441 20,960
Net income attributable to preferred units (153) (153) (306) (306)
Net income attributable to participating securities (276) (25) (554) (97)
Net income attributable to non-controlling interest in consolidated real estate entities (5,549) (3,890) (12,179) (7,407)
Net loss attributable to redeemable non-controlling interest in consolidated real estate entities 1,282 770 1,964 1,403
Net income attributable to Hudson Pacific Properties, L.P. 2,763 3,891 8,226 14,956
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 2,334 $ 3,713 $ 7,366 $ 14,553
BASIC AND DILUTED PER SHARE AMOUNTS        
Net income attributable to common unitholders —basic (in dollars per share) $ 0.02 $ 0.02 $ 0.05 $ 0.09
Net income attributable to common unitholders —diluted (in dollars per share) $ 0.02 $ 0.02 $ 0.05 $ 0.09
Weighted average shares of common units outstanding—basic (in shares) 152,551,236 154,218,834 152,369,823 154,781,647
Weighted average shares of common units outstanding—diluted (in shares) 152,683,463 155,012,834 152,675,104 155,906,647
Office segment        
REVENUES        
Rental $ 192,552 $ 180,654 $ 382,413 $ 361,767
Service and other revenues 3,151 3,654 5,433 8,968
Total revenues 195,703 184,308 387,846 370,735
OPERATING EXPENSES        
Operating expenses 69,111 64,611 135,673 128,471
Office segment | Hudson Pacific Partners L.P.        
REVENUES        
Rental 192,552 180,654 382,413 361,767
Service and other revenues 3,151 3,654 5,433 8,968
Total revenues 195,703 184,308 387,846 370,735
OPERATING EXPENSES        
Operating expenses 69,111 64,611 135,673 128,471
Studio segment        
REVENUES        
Rental 11,551 12,128 23,704 25,043
Service and other revenues 8,348 2,174 17,171 9,059
Total revenues 19,899 14,302 40,875 34,102
OPERATING EXPENSES        
Operating expenses 12,466 7,951 23,919 18,601
Studio segment | Hudson Pacific Partners L.P.        
REVENUES        
Rental 11,551 12,128 23,704 25,043
Service and other revenues 8,348 2,174 17,171 9,059
Total revenues 19,899 14,302 40,875 34,102
OPERATING EXPENSES        
Operating expenses $ 12,466 $ 7,951 $ 23,919 $ 18,601