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Segment Reporting (Tables)

6 Months Ended

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 reconciliation of net loss to total profit from all segments:

			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

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X

- References

No definition available.

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