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Equity (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of Accumulated Other Comprehensive Income (Loss)

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


	Derivative Instruments		Currency Translation Adjustments		Total Accumulated Other Comprehensive (Loss) Income
BALANCE AT DECEMBER 31, 2022	$	(1,280)	$	(9,992)	$	(11,272)
Unrealized gains recognized in AOCI	17,447		199		17,646
Reclassification from AOCI into income(1)	(2,196)		—		(2,196)
Net change in AOCI	15,251		199		15,450
BALANCE AT SEPTEMBER 30, 2023	$	13,971	$	(9,793)	$	4,178

_____________

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) Income
BALANCE AT DECEMBER 31, 2022	$	(1,260)	$	(10,200)	$	(11,460)
Unrealized gains recognized in AOCI	17,943		205		18,148
Reclassification from AOCI into income(1)	(2,258)		—		(2,258)
Net change in AOCI	15,685		205		15,890
BALANCE AT SEPTEMBER 30, 2023	$	14,425	$	(9,995)	$	4,430

_____________

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:


	September 30, 2023		December 31, 2022
Company-owned common units in the operating partnership	140,937,702		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 September 30, 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 September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Common stock(1)	$	—	$	0.25	$	0.375	$	0.75
Common units(1)	$	—	$	0.25	$	0.375	$	0.75
Series A preferred units	$	0.3906	$	0.3906	$	1.1718	$	1.1718
Series C preferred stock(2)	$	0.2968750	$	0.2968750	$	0.8906250	$	1.0390625

Performance units(1)	$	—	$	0.25	$	0.375	$	0.75
Payment date	September 29, 2023		September 29, 2022		N/A		N/A
Record date	September 19, 2023		September 19, 2022		N/A		N/A

_________________

1.In September 2023, the Company temporarily suspended its quarterly common stock dividend. As a result, the common unit and performance unit dividends were also suspended.

2.Dividends paid during nine months ended September 30, 2022 include a $0.2968750 per share dividend declared and paid in each of the first, second and third quarters 2022 and a $0.1484375 per share dividend declared during the fourth quarter of 2021.