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CONSOLIDATED STATEMENTS OF OPERATIONS L.P. - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
REVENUES        
Revenues $ 231,443,000 $ 260,354,000 $ 728,874,000 $ 756,297,000
OPERATING EXPENSES        
Office and studio operating expenses 112,176,000 105,028,000 334,920,000 296,886,000
General and administrative 17,512,000 19,795,000 55,177,000 62,178,000
Depreciation and amortization 98,580,000 93,070,000 294,654,000 276,701,000
Total operating expenses 228,268,000 217,893,000 684,751,000 635,765,000
OTHER INCOME (EXPENSES)        
(Loss) income from unconsolidated real estate entities (759,000) (352,000) (2,219,000) 1,731,000
Fee income 340,000 911,000 5,026,000 3,122,000
Interest expense (53,581,000) (37,261,000) (162,036,000) (101,816,000)
Interest income 800,000 196,000 1,407,000 2,026,000
Management services reimbursement income—unconsolidated real estate entities 1,015,000 983,000 3,138,000 3,159,000
Management services expense—unconsolidated real estate entities (1,015,000) (983,000) (3,138,000) (3,159,000)
Transaction-related expenses 0 (9,331,000) 1,344,000 (10,713,000)
Unrealized loss on non-real estate investments (2,265,000) (894,000) (2,269,000) (1,062,000)
Gain (loss) on sale of real estate 16,108,000 (180,000) 23,154,000 (180,000)
Impairment loss 0 (4,795,000) 0 (28,548,000)
Gain on extinguishment of debt 0 0 10,000,000 0
Other income 5,000 1,147,000 139,000 1,138,000
Total other expenses (39,352,000) (50,559,000) (125,454,000) (134,302,000)
Loss before income tax benefit (provision) (36,177,000) (8,098,000) (81,331,000) (13,770,000)
Income tax benefit (provision) 425,000 1,306,000 (715,000) 2,909,000
Net loss (35,752,000) (6,792,000) (82,046,000) (10,861,000)
Net loss (income) attributable to non-controlling interest in consolidated real estate entities 1,752,000 (6,256,000) 375,000 (21,898,000)
Net loss attributable to redeemable non-controlling interest in consolidated real estate entities 931,000 1,037,000 2,333,000 4,433,000
Net income attributable to participating securities 0 (300,000) (850,000) (894,000)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS (37,597,000) (17,286,000) (94,188,000) (44,515,000)
Series A preferred units        
OTHER INCOME (EXPENSES)        
Net income attributable to preferred units/shares (153,000) (153,000) (459,000) (459,000)
Series C preferred shares/units        
OTHER INCOME (EXPENSES)        
Net income attributable to preferred units/shares (5,047,000) (5,047,000) (15,141,000) (15,384,000)
Office        
REVENUES        
Rental 199,633,000 208,779,000 605,776,000 626,807,000
Service and other revenues 3,954,000 4,712,000 11,735,000 14,328,000
Revenues 203,587,000 213,491,000 617,511,000 641,135,000
OPERATING EXPENSES        
Office and studio operating expenses 80,521,000 78,340,000 231,342,000 230,529,000
Studio        
REVENUES        
Rental 13,482,000 15,305,000 46,109,000 42,137,000
Service and other revenues 14,374,000 31,558,000 65,254,000 73,025,000
Revenues 27,856,000 46,863,000 111,363,000 115,162,000
OPERATING EXPENSES        
Office and studio operating expenses 31,655,000 26,688,000 103,578,000 66,357,000
Hudson Pacific Partners L.P.        
REVENUES        
Revenues 231,443,000 260,354,000 728,874,000 756,297,000
OPERATING EXPENSES        
General and administrative 17,512,000 19,795,000 55,177,000 62,178,000
Depreciation and amortization 98,580,000 93,070,000 294,654,000 276,701,000
Total operating expenses 228,268,000 217,893,000 684,751,000 635,765,000
OTHER INCOME (EXPENSES)        
(Loss) income from unconsolidated real estate entities (759,000) (352,000) (2,219,000) 1,731,000
Fee income 340,000 911,000 5,026,000 3,122,000
Interest expense (53,581,000) (37,261,000) (162,036,000) (101,816,000)
Interest income 800,000 196,000 1,407,000 2,026,000
Management services reimbursement income—unconsolidated real estate entities 1,015,000 983,000 3,138,000 3,159,000
Management services expense—unconsolidated real estate entities (1,015,000) (983,000) (3,138,000) (3,159,000)
Transaction-related expenses 0 (9,331,000) 1,344,000 (10,713,000)
Unrealized loss on non-real estate investments (2,265,000) (894,000) (2,269,000) (1,062,000)
Gain (loss) on sale of real estate 16,108,000 (180,000) 23,154,000 (180,000)
Impairment loss 0 (4,795,000) 0 (28,548,000)
Gain on extinguishment of debt 0 0 10,000,000 0
Other income 5,000 1,147,000 139,000 1,138,000
Total other expenses (39,352,000) (50,559,000) (125,454,000) (134,302,000)
Loss before income tax benefit (provision) (36,177,000) (8,098,000) (81,331,000) (13,770,000)
Income tax benefit (provision) 425,000 1,306,000 (715,000) 2,909,000
Net loss (35,752,000) (6,792,000) (82,046,000) (10,861,000)
Net loss (income) attributable to non-controlling interest in consolidated real estate entities 1,752,000 (6,256,000) 375,000 (21,898,000)
Net loss attributable to redeemable non-controlling interest in consolidated real estate entities 931,000 1,037,000 2,333,000 4,433,000
Net loss attributable to Hudson Pacific Properties, L.P. (33,069,000) (12,011,000) (79,338,000) (28,326,000)
Net income attributable to participating securities 0 (300,000) (850,000) (894,000)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (38,269,000) $ (17,511,000) $ (95,788,000) $ (45,063,000)
BASIC AND DILUTED PER UNIT AMOUNTS        
Net loss attributable to common unitholders —basic (in dollars per share) $ (0.27) $ (0.12) $ (0.67) $ (0.31)
Net loss attributable to common unitholders —diluted (in dollars per share) $ (0.27) $ (0.12) $ (0.67) $ (0.31)
Weighted average shares of common units outstanding—basic (in shares) 143,456,164 142,963,458 143,405,044 146,523,102
Weighted average shares of common units outstanding—diluted (in shares) 143,456,164 142,963,458 143,405,044 146,523,102
Hudson Pacific Partners L.P. | Series A preferred units        
OTHER INCOME (EXPENSES)        
Net income attributable to preferred units/shares $ (153,000) $ (153,000) $ (459,000) $ (459,000)
Hudson Pacific Partners L.P. | Series C preferred shares/units        
OTHER INCOME (EXPENSES)        
Net income attributable to preferred units/shares (5,047,000) (5,047,000) (15,141,000) (15,384,000)
Hudson Pacific Partners L.P. | Office        
REVENUES        
Rental 199,633,000 208,779,000 605,776,000 626,807,000
Service and other revenues 3,954,000 4,712,000 11,735,000 14,328,000
Revenues 203,587,000 213,491,000 617,511,000 641,135,000
OPERATING EXPENSES        
Office and studio operating expenses 80,521,000 78,340,000 231,342,000 230,529,000
Hudson Pacific Partners L.P. | Studio        
REVENUES        
Rental 13,482,000 15,305,000 46,109,000 42,137,000
Service and other revenues 14,374,000 31,558,000 65,254,000 73,025,000
Revenues 27,856,000 46,863,000 111,363,000 115,162,000
OPERATING EXPENSES        
Office and studio operating expenses $ 31,655,000 $ 26,688,000 $ 103,578,000 $ 66,357,000