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Segment Reporting (Tables) | 6 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
Schedule of Operating Activity | The table below presents the operating activity of the Company’s reportable segments:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Office segment |  |  |  |  |  |  |
Office revenues | $ | 176,039 |  |  | $ | 207,291 |  |  | $ | 351,114 |  |  | $ | 413,924 |
Office expenses | (75,304) |  |  | (76,767) |  |  | (148,251) |  |  | (150,821) |
Office segment profit | 100,735 |  |  | 130,524 |  |  | 202,863 |  |  | 263,103 |
Studio segment |  |  |  |  |  |  |
Studio revenues | 41,961 |  |  | 37,877 |  |  | 80,909 |  |  | 83,507 |
Studio expenses | (37,952) |  |  | (34,679) |  |  | (75,061) |  |  | (71,923) |
Studio segment profit | 4,009 |  |  | 3,198 |  |  | 5,848 |  |  | 11,584 |
TOTAL SEGMENT PROFIT | $ | 104,744 |  |  | $ | 133,722 |  |  | $ | 208,711 |  |  | $ | 274,687 |
Segment revenues | $ | 218,000 |  |  | $ | 245,168 |  |  | $ | 432,023 |  |  | $ | 497,431 |
Segment expenses | (113,256) |  |  | (111,446) |  |  | (223,312) |  |  | (222,744) |
TOTAL SEGMENT PROFIT | $ | 104,744 |  |  | $ | 133,722 |  |  | $ | 208,711 |  |  | $ | 274,687 |
The table below is a reconciliati on of net loss to total profit from all segmen ts:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
NET LOSS | $ | (47,557) |  |  | $ | (31,474) |  |  | $ | (100,912) |  |  | $ | (46,293) |
General and administrative | 20,705 |  |  | 18,941 |  |  | 40,415 |  |  | 37,665 |
Depreciation and amortization | 86,798 |  |  | 98,935 |  |  | 178,652 |  |  | 196,074 |
Loss from unconsolidated real estate entities | 2,481 |  |  | 715 |  |  | 3,224 |  |  | 1,460 |
Fee income | (1,371) |  |  | (2,284) |  |  | (2,496) |  |  | (4,686) |
Interest expense | 44,159 |  |  | 54,648 |  |  | 88,248 |  |  | 108,455 |
Interest income | (579) |  |  | (236) |  |  | (1,433) |  |  | (607) |
Management services reimbursement income—unconsolidated real estate entities | (1,042) |  |  | (1,059) |  |  | (2,198) |  |  | (2,123) |
Management services expense—unconsolidated real estate entities | 1,042 |  |  | 1,059 |  |  | 2,198 |  |  | 2,123 |
Transaction-related expenses | (113) |  |  | (2,530) |  |  | 2,037 |  |  | (1,344) |
Unrealized loss on non-real estate investments | 1,045 |  |  | 843 |  |  | 1,943 |  |  | 4 |
Gain on sale of real estate | — |  |  | — |  |  | — |  |  | (7,046) |
Gain on extinguishment of debt | — |  |  | (10,000) |  |  | — |  |  | (10,000) |
Other income | (1,334) |  |  | (138) |  |  | (1,477) |  |  | (135) |
Income tax provision | 510 |  |  | 6,302 |  |  | 510 |  |  | 1,140 |
TOTAL PROFIT FROM ALL SEGMENTS | $ | 104,744 |  |  | $ | 133,722 |  |  | $ | 208,711 |  |  | $ | 274,687 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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