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Equity (Tables) | 12 Months Ended
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Dec. 31, 2023
Equity [Abstract] |
Schedule of Accumulated Other Comprehensive 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 AOCI
Balance at January 1, 2021 | $ | (11,378) |  |  | $ | 3,245 |  |  | $ | (8,133) |
Unrealized gain (loss) recognized in AOCI | 169 |  |  | (1,049) |  |  | (880) |
Reclassification from AOCI into income(1) | 7,252 |  |  | — |  |  | 7,252 |
Net change in AOCI | 7,421 |  |  | (1,049) |  |  | 6,372 |
Balance at December 31, 2021 | (3,957) |  |  | 2,196 |  |  | (1,761) |
Unrealized gain (loss) recognized in AOCI | 612 |  |  | (12,188) |  |  | (11,576) |
Reclassification from AOCI into income(1) | 2,065 |  |  | — |  |  | 2,065 |
Net change in AOCI | 2,677 |  |  | (12,188) |  |  | (9,511) |
Balance at December 31, 2022 | (1,280) |  |  | (9,992) |  |  | (11,272) |
Unrealized gain recognized in AOCI | 9,462 |  |  | 6,149 |  |  | 15,611 |
Reclassification from AOCI into income(1) | (4,526) |  |  | — |  |  | (4,526) |
Net change in AOCI | 4,936 |  |  | 6,149 |  |  | 11,085 |
Balance at December 31, 2023 | $ | 3,656 |  |  | $ | (3,843) |  |  | $ | (187) |
_____________ 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, LP’s AOCI:
| Derivative Instruments |  | Currency Translation Adjustments |  | Total AOCI
Balance at January 1, 2021 | $ | (11,485) |  |  | $ | 3,239 |  |  | (8,246) |
Unrealized gain (loss) recognized in AOCI | 171 |  |  | (1,064) |  |  | (893) |
Reclassification from AOCI into income(1) | 7,360 |  |  | — |  |  | 7,360 |
Net change in AOCI | 7,531 |  |  | (1,064) |  |  | 6,467 |
Balance at December 31, 2021 | (3,954) |  |  | 2,175 |  |  | (1,779) |
Unrealized gain (loss) recognized in AOCI | 597 |  |  | (12,375) |  |  | (11,778) |
Reclassification from AOCI into income(1) | 2,097 |  |  | — |  |  | 2,097 |
Net change in AOCI | 2,694 |  |  | (12,375) |  |  | (9,681) |
Balance at December 31, 2022 | (1,260) |  |  | (10,200) |  |  | (11,460) |
Unrealized gain recognized in AOCI | 9,729 |  |  | 6,325 |  |  | 16,054 |
Reclassification from AOCI into income(1) | (4,656) |  |  | — |  |  | (4,656) |
Net change in AOCI | 5,073 |  |  | 6,325 |  |  | 11,398 |
Balance at December 31, 2023 | 3,813 |  |  | (3,875) |  |  | $ | (62) |
_____________ 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.
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:
|  | December 31, 2023 |  | December 31, 2022 |  | December 31, 2021
Company-owned common units in the operating partnership |  | 141,034,806 |  |  | 141,054,478 |  |  | 151,124,543 |
Company’s ownership interest percentage |  | 98.0 | % |  | 98.5 | % |  | 98.8 | %
Non-controlling common units in the operating partnership(1) |  | 2,810,433 |  |  | 2,191,842 |  |  | 1,842,898 |
Non-controlling ownership interest percentage |  | 2.0 | % |  | 1.5 | % |  | 1.2 | %
_________________ 1.Represents common units held by certain of the Company’s executive officers, directors and other outside investors. As of December 31, 2023, this amount represents both common units and performance units of 550,969 and 2,259,464, respectively. As of December 31, 2022, this amount represents both common units and performance units of 550,969 and 1,640,873, respectively. As of December 31, 2021, this amount represents both common units and performance units of 550,969 and 1,291,929, respectively.
Schedule of Dividends | The following table summarizes dividends per share declared and paid for the periods presented:
| For the Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Common stock(1) | $ | 0.375 |  |  | $ | 1.00 |  |  | $ | 1.00 |
Common units(1) | $ | 0.375 |  |  | $ | 1.00 |  |  | $ | 1.00 |
Series A preferred units | $ | 1.5625 |  |  | $ | 1.5625 |  |  | $ | 1.5625 |
Series C preferred stock(2) | $ | 1.1875 |  |  | $ | 1.3359 |  |  | $ | — |
_________________ 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 the year ended December 31, 2022 include a $0.2968750 per share dividend declared and paid in each of the first, second, third and fourth quarters of 2022 and a $0.1484375 per share dividend declared during the fourth quarter of 2021.
Schedule of Dividends Taxability | The Company’s dividends related to its common stock will be classified for U.S. federal income tax purposes as follows (unaudited):
|  |  |  | Dividends |  | Capital Gains |  | Section 897 |  |
Record Date | Payment Date | Distribution Per Share |  | Total | Qualified |  | Total | Unrecaptured Section 1250 |  | Ordinary Dividends | Capital Gains |  | Return of Capital
3/20/2023 | 3/30/2023 | $ | 0.250000 |  |  | $ | 0.000000 |  | $ | 0.000000 |  |  | $ | 0.250000 |  | $ | 0.115922 |  |  | $ | 0.000000 |  | $ | 0.250000 |  |  | $ | 0.000000 |
6/20/2023 | 6/30/2023 | 0.125000 |  |  | 0.000000 |  | 0.000000 |  |  | 0.125000 |  | 0.057961 |  |  | 0.000000 |  | 0.125000 |  |  | 0.000000 |
| TOTALS | $ | 0.375000 |  |  | $ | 0.000000 |  | $ | 0.000000 |  |  | $ | 0.375000 |  | $ | 0.173883 |  |  | $ | 0.000000 |  | $ | 0.375000 |  |  | $ | 0.000000 |
|  | 100.00 | % |  | 0.00 | % | 0.00 | % |  | 100.00 | % | 46.37 | % |  | 0.00 | % | 100.00 | % |  | 0.00 | %
The Company’s dividends related to its 4.750% series C preferred stock will be classified for U.S. federal income tax purposes as follows (unaudited):
|  |  |  | Dividends |  | Capital Gains |  | Section 897 |  |
Record Date | Payment Date | Distribution Per Share |  | Total | Qualified |  | Total | Unrecaptured Section 1250 |  | Ordinary Dividends | Capital Gains |  | Return of Capital
3/20/2023 | 3/30/2023 | $ | 0.296875 |  |  | $ | 0.000000 |  | $ | 0.000000 |  |  | $ | 0.296875 |  | $ | 0.137658 |  |  | $ | 0.000000 |  | $ | 0.296875 |  |  | $ | 0.000000 |
6/20/2023 | 6/30/2023 | 0.296875 |  |  | 0.000000 |  | 0.000000 |  |  | 0.296875 |  | 0.137658 |  |  | 0.000000 |  | 0.296875 |  |  | 0.000000 |
9/19/2023 | 9/29/2023 | 0.296875 |  |  | 0.000000 |  | 0.000000 |  |  | 0.296875 |  | 0.137658 |  |  | 0.000000 |  | 0.296875 |  |  | 0.000000 |
12/18/2023 | 12/28/2023 | 0.296875 |  |  | 0.000000 |  | 0.000000 |  |  | 0.296875 |  | 0.137658 |  |  | 0.000000 |  | 0.296875 |  |  | 0.000000 |
| TOTALS | $ | 1.187500 |  |  | $ | 0.000000 |  | $ | 0.000000 |  |  | $ | 1.187500 |  | $ | 0.550632 |  |  | $ | 0.000000 |  | $ | 1.187500 |  |  | $ | 0.000000 |
|  | 100.00 | % |  | 0.00 | % | 0.00 | % |  | 100.00 | % | 46.37 | % |  | 0.00 | % | 100.00 | % |  | 0.00 | %

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