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Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Components of Segment Net Income (Loss) for Each Segment

The following tables provide components of segment net income (loss) for each segment for the three and three months ended March 31, 2021 and 2020 (amounts in thousands):

						Three Months Ended March 31, 2021
						Real Estate						Observatory						Intersegment Elimination						Total
Revenues:
Rental revenue						$	140,231					$	—					$	—					$	140,231
Intercompany rental revenue						4,932						—						(4,932)						—
Observatory revenue						—						2,603						—						2,603
Lease termination fees						1,289						—						—						1,289
Third-party management and other fees						276						—						—						276
Other revenue and fees						905						—						—						905
Total revenues						147,633						2,603						(4,932)						145,304
Operating expenses:
Property operating expenses						30,279						—						—						30,279
Intercompany rent expense						—						4,932						(4,932)						—
Ground rent expense						2,331						—						—						2,331
General and administrative expenses						13,853						—						—						13,853
Observatory expenses						—						4,588						—						4,588
Real estate taxes						31,447						—						—						31,447
Depreciation and amortization						44,419						38						—						44,457
Total operating expenses						122,329						9,558						(4,932)						126,955
Total operating income (loss)						25,304						(6,955)						—						18,349
Other income (expense):
Interest income						120						2						—						122
Interest expense						(23,554)						—						—						(23,554)
Loss on early extinguishment of debt						(214)						—						—						(214)
Income (loss) before income taxes						1,656						(6,953)						—						(5,297)
Income tax (expense) benefit						(283)						2,389						—						2,106
Net income (loss)						$	1,373					$	(4,564)					$	—					$	(3,191)
Segment assets						$	3,910,152					$	241,371					$	—					$	4,151,523
Expenditures for segment assets						$	23,331					$	4					$	—					$	23,335

						Three Months Ended March 31, 2020
						Real Estate						Observatory						Intersegment Elimination						Total
Revenues:
Rental revenue						$	148,113					$	—					$	—					$	148,113
Intercompany rental revenue						11,536						—						(11,536)						—
Observatory revenue						—						19,544						—						19,544
Lease termination fees						211						—						—						211
Third-party management and other fees						346						—						—						346
Other revenue and fees						2,010						—						—						2,010
Total revenues						162,216						19,544						(11,536)						170,224
Operating expenses:
Property operating expenses						41,468						—						—						41,468
Intercompany rent expense						—						11,536						(11,536)						—
Ground rent expense						2,331						—						—						2,331
General and administrative expenses						15,951						—						—						15,951
Observatory expenses						—						8,154						—						8,154
Real estate taxes						29,254						—						—						29,254
Depreciation and amortization						46,085						8						—						46,093
Total operating expenses						135,089						19,698						(11,536)						143,251
Total operating income						27,127						(154)						—						26,973
Other income (expense):
Interest income						637						—						—						637
Interest expense						(19,618)						—						—						(19,618)
Loss on early extinguishment of debt						(86)						—						—						(86)
Income before income taxes						8,060						(154)						—						7,906
Income tax (expense) benefit						(227)						609						—						382
Net income						$	7,833					$	455					$	—					$	8,288
Segment assets						$	4,409,281					$	255,277					$	—					$	4,664,558
Expenditures for segment assets						$	26,570					$	1,237					$	—					$	27,807

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

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- References

No definition available.

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