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Equity (Tables) | 12 Months Ended
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Dec. 31, 2024
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, January 1, 2022 | $ | (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, 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, December 31, 2023 | 3,656 |  |  | (3,843) |  |  | (187) |
Unrealized gain (loss) recognized in AOCI | 8,942 |  |  | (7,359) |  |  | 1,583 |
Reclassification from AOCI into income(1) | (9,813) |  |  | — |  |  | (9,813) |
Net change in AOCI | (871) |  |  | (7,359) |  |  | (8,230) |
Balance, December 31, 2024 | $ | 2,785 |  |  | $ | (11,202) |  |  | $ | (8,417) |
_____________ 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, January 1, 2022 | $ | (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, 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, December 31, 2023 | 3,813 |  |  | (3,875) |  |  | (62) |
Unrealized gain recognized in AOCI | 9,382 |  |  | (7,727) |  |  | 1,655 |
Reclassification from AOCI into income(1) | (10,306) |  |  | — |  |  | (10,306) |
Net change in AOCI | (924) |  |  | (7,727) |  |  | (8,651) |
Balance, December 31, 2024 | 2,889 |  |  | (11,602) |  |  | $ | (8,713) |
_____________ 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, 2024 |  | December 31, 2023 |  | December 31, 2022
Company-owned common units in the operating partnership |  | 141,279,102 |  |  | 141,034,806 |  |  | 141,054,478 |
Company’s ownership interest percentage |  | 97.4 | % |  | 98.0 | % |  | 98.5 | %
Non-controlling common units in the operating partnership(1) |  | 3,796,346 |  |  | 2,810,433 |  |  | 2,191,842 |
Non-controlling ownership interest percentage |  | 2.6 | % |  | 2.0 | % |  | 1.5 | %
_________________ 1.Represents common units held by certain of the Company’s executive officers, directors and other outside investors. As of December 31, 2024, this amount represents both common units and performance units of 550,969 and 3,245,377, respectively. 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.
Schedule of Dividends | The following table summarizes dividends per share declared and paid for the periods presented:
| For the Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Common stock(1) | $ | 0.10 |  |  | $ | 0.375 |  |  | $ | 1.00 |
Common units(1) | $ | 0.10 |  |  | $ | 0.375 |  |  | $ | 1.00 |
Unvested performance-based units(1)(2) | $ | 0.01 |  |  | $ | 0.0375 |  |  | $ | 0.10 |
Series A preferred units | $ | 1.5625 |  |  | $ | 1.5625 |  |  | $ | 1.5625 |
Series C preferred stock(3) | $ | 1.1875 |  |  | $ | 1.1875 |  |  | $ | 1.3359 |
_________________ 1.The Company suspended its quarterly common stock dividend during the third and fourth quarters of 2023 and the third and fourth quarters of 2024. As a result, the common unit and performance unit dividends were also suspended. 2.Performance-based units are entitled to dividends equal to the common stock dividends declared by the Company. During their vesting period, unvested performance-based units receive 10% of the declared dividend, with the remainder payable as soon as practicable after the vesting date. 3.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. The Company’s dividends related to its common stock will be classified for U.S. federal income tax purposes as follows (unaudited):
|  | Distribution Per Share |  | Ordinary Dividends |  | Capital Gains Distributions |  |  |  | Return of Capital
Record Date | Payment Date |  | Total | Non-Qualified(1) | Qualified |  |  |  |  |
3/18/2024 | 3/28/2024 | $ | 0.05000 |  |  | $ | 0.03342 |  | $ | 0.03342 |  | $ | — |  |  | $ | — |  |  |  |  |  |  | $ | 0.01658 |
6/17/2024 | 6/27/2024 | 0.05000 |  |  | 0.03342 |  | 0.03342 |  | — |  |  | — |  |  |  |  |  |  | 0.01658 |
| TOTALS | $ | 0.10000 |  |  | $ | 0.06684 |  | $ | 0.06684 |  | $ | — |  |  | $ | — |  |  |  |  |  |  | $ | 0.03316 |
|  | 100.00 | % |  | 66.84 | % |  |  |  | — | % |  |  |  |  |  | 33.16 | %
_________________ 1.On December 22, 2017, the Tax Cuts and Jobs Act enacted Section 199A that generally allows a deduction for non-corporate taxpayers equal to 20% of ordinary dividends distributed by a REIT (excluding capital gain dividends and qualified dividend income). Ordinary Dividends eligible for the Section 199A benefit are a subset of and included in the Taxable Ordinary Dividend Amount. 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):
|  | Distribution Per Share |  | Ordinary Dividends |  | Capital Gains Distributions |  |  |  | Return of Capital
Record Date | Payment Date |  | Total | Non-Qualified(1) | Qualified |  |  |  |  |
3/18/2024 | 3/28/2024 | $ | 0.296875 |  |  | $ | 0.296875 |  | $ | 0.296875 |  | $ | — |  |  | $ | — |  |  |  |  |  |  | $ | — |
6/17/2024 | 6/27/2024 | 0.296875 |  |  | 0.296875 |  | 0.296875 |  | — |  |  | — |  |  |  |  |  |  | — |
9/20/2024 | 9/30/2024 | 0.296875 |  |  | 0.296875 |  | 0.296875 |  | — |  |  | — |  |  |  |  |  |  | — |
12/20/2024 | 12/30/2024 | 0.296875 |  |  | 0.296875 |  | 0.296875 |  | — |  |  | — |  |  |  |  |  |  | — |
| TOTALS | $ | 1.187500 |  |  | $ | 1.187500 |  | $ | 1.187500 |  | $ | — |  |  | $ | — |  |  |  |  |  |  | $ | — |
|  | 100.00 | % |  | 100.00 | % |  |  |  | — | % |  |  |  |  |  | — | %
_________________ 1.On December 22, 2017, the Tax Cuts and Jobs Act enacted Section 199A that generally allows a deduction for non-corporate taxpayers equal to 20% of ordinary dividends distributed by a REIT (excluding capital gain dividends and qualified dividend income). Ordinary Dividends eligible for the Section 199A benefit are a subset of and included in the Taxable Ordinary Dividend Amount.

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