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Segment Reporting | 6 Months Ended
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Jun. 30, 2022
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 reportable segments: (i) office properties and related operations and (ii) studio properties and related operations. The Company evaluates performance based upon net operating income of the segment operations. General and administrative expenses and interest expense are not included in segment profit as the Company’s 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,
| 2022 |  | 2021 |  | 2022 |  | 2021
Office segment |  |  |  |  |  |  |
Office revenues | $ | 216,244 |  |  | $ | 195,703 |  |  | $ | 427,644 |  |  | $ | 387,846 |
Office expenses | (78,558) |  |  | (69,111) |  |  | (152,189) |  |  | (135,673) |
Office segment profit | 137,686 |  |  | 126,592 |  |  | 275,455 |  |  | 252,173 |
Studio segment |  |  |  |  |  |  |
Studio revenues | 35,186 |  |  | 19,899 |  |  | 68,299 |  |  | 40,875 |
Studio expenses | (20,686) |  |  | (12,466) |  |  | (39,669) |  |  | (23,919) |
Studio segment profit | 14,500 |  |  | 7,433 |  |  | 28,630 |  |  | 16,956 |
TOTAL SEGMENT PROFIT | $ | 152,186 |  |  | $ | 134,025 |  |  | $ | 304,085 |  |  | $ | 269,129 |
Segment revenues | $ | 251,430 |  |  | $ | 215,602 |  |  | $ | 495,943 |  |  | $ | 428,721 |
Segment expenses | (99,244) |  |  | (81,577) |  |  | (191,858) |  |  | (159,592) |
TOTAL SEGMENT PROFIT | $ | 152,186 |  |  | $ | 134,025 |  |  | $ | 304,085 |  |  | $ | 269,129 |
The table below is a reconciliation of the total profit from all segments to net income:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
NET INCOME (LOSS) | $ | 3,546 |  |  | $ | 7,030 |  |  | $ | (4,069) |  |  | $ | 18,441 |
General and administrative | 21,871 |  |  | 17,109 |  |  | 42,383 |  |  | 35,558 |
Depreciation and amortization | 91,438 |  |  | 84,178 |  |  | 183,631 |  |  | 166,939 |
Income from unconsolidated real estate entities | (1,780) |  |  | (470) |  |  | (2,083) |  |  | (1,105) |
Fee income | (1,140) |  |  | (797) |  |  | (2,211) |  |  | (1,645) |
Interest expense | 33,719 |  |  | 30,689 |  |  | 64,555 |  |  | 60,975 |
Interest income | (920) |  |  | (937) |  |  | (1,830) |  |  | (1,934) |
Management services reimbursement income—unconsolidated real estate entities | (1,068) |  |  | (626) |  |  | (2,176) |  |  | (626) |
Management services expense—unconsolidated real estate entities | 1,068 |  |  | 626 |  |  | 2,176 |  |  | 626 |
Transaction-related expenses | 1,126 |  |  | 1,064 |  |  | 1,382 |  |  | 1,064 |
Unrealized loss (gain) on non-real estate investments | 1,818 |  |  | (5,018) |  |  | 168 |  |  | (10,793) |
Impairment loss | 3,250 |  |  | — |  |  | 23,753 |  |  | — |
Other (income) expense | (742) |  |  | 1,177 |  |  | (1,594) |  |  | 1,629 |
TOTAL PROFIT FROM ALL SEGMENTS | $ | 152,186 |  |  | $ | 134,025 |  |  | $ | 304,085 |  |  | $ | 269,129 |

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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