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Equity (Tables)

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The table below presents the activity related to Hudson Pacific Properties, Inc.’s accumulated other comprehensive loss (“AOCI”):

						Derivative Instruments						Currency Translation Adjustments						Total Accumulated Other Comprehensive Loss
BALANCE AT DECEMBER 31, 2022						$	(1,280)					$	(9,992)					$	(11,272)
Unrealized gains recognized in AOCI						653						1,825						2,478
Reclassification from AOCI into income(1)						647						—						647
Net change in AOCI						1,300						1,825						3,125
BALANCE AT MARCH 31, 2023						$	20					$	(8,167)					$	(8,147)

_____________

1.The gains and losses on the Company’s derivative instruments classified as hedges are reported in interest expense on the Consolidated Statements of Operations.

The table below presents the activity related to Hudson Pacific Properties, L.P.’s AOCI:

						Derivative Instruments						Currency Translation Adjustments						Total Accumulated Other Comprehensive Loss
BALANCE AT DECEMBER 31, 2022						$	(1,260)					$	(10,200)					$	(11,460)
Unrealized gains recognized in AOCI						932						2,014						2,946
Reclassification from AOCI into income(1)						268						—						268
Net change in AOCI						1,200						2,014						3,214
BALANCE AT MARCH 31, 2023						$	(60)					$	(8,186)					$	(8,246)

_____________

1.The gains and losses on the operating partnership’s derivative instruments classified as hedges are reported in interest expense on the Consolidated Statements of Operations.

Schedule of Other Ownership Interests

The following table summarizes the ownership interest in the operating partnership, excluding unvested restricted units and unvested restricted performance units, as of:

			March 31, 2023						December 31, 2022
Company-owned common units in the operating partnership			140,888,769						141,054,478
Company’s ownership interest percentage			98.2		%				98.5		%
Non-controlling common units in the operating partnership(1)			2,518,462						2,191,842
Non-controlling ownership interest percentage			1.8		%				1.5		%

_________________ 

1.Represents common units held by certain of the Company’s executive officers, directors and other outside investors. As of March 31, 2023, this amount represents both common units and performance units of 550,969 and 1,967,493, respectively. As of December 31, 2022, this amount represents both common units and performance units in the amount of 550,969 and 1,640,873, respectively.

Schedule of Dividends

The following table summarizes dividends per share declared and paid for the periods presented:

			Three Months Ended March 31,
			2023						2022
Common stock			$	0.25					$	0.25
Common units			$	0.25					$	0.25
Series A preferred units			$	0.3906					$	0.3906
Series C preferred stock(1)			$	0.2968750					$	0.4453125
Performance units			$	0.25					$	0.25
Payment date			March 30, 2023						March 31, 2022
Record date			March 20, 2023						March 21, 2022

_________________ 

1.Dividends paid during the three months ended March 31, 2022 include a $0.2968750 per share dividend declared and a $0.1484375 per share dividend declared during the fourth quarter of 2021.

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Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=126968391&loc=d3e526-108580

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 5
-Subparagraph (SAB TOPIC 4.F)
-URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187171-122770

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