Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Below is a summary of our revenues by segment. Additional financial information related to these reportable segments for the years ended December 31, 2023, 2022 and 2021 is set forth in Note 23 - Segment Information.


(Amounts in thousands)	For the Year Ended December 31, 2023
	Total		New York		Other
Property rentals	$	1,523,890	$	1,222,229	$	301,661	(1)
Trade shows(2)	20,781		—		20,781
Lease revenues(3)	1,544,671		1,222,229		322,442
Tenant services	42,460		31,086		11,374
Parking revenues	20,355		16,502		3,853
Rental revenues	1,607,486		1,269,817		337,669
BMS cleaning fees	141,937		151,608		(9,671)		(4)
Management and leasing fees	13,040		13,619		(579)
Other income	48,700		17,114		31,586
Fee and other income	203,677		182,341		21,336
Total revenues	$	1,811,163	$	1,452,158	$	359,005

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See notes on following page.


(Amounts in thousands)	For the Year Ended December 31, 2022
	Total		New York		Other
Property rentals	$	1,510,648	$	1,230,851	$	279,797
Trade shows(2)	32,669		—		32,669
Lease revenues(3)	1,543,317		1,230,851		312,466
Tenant services	45,211		33,351		11,860
Parking revenues	19,157		15,979		3,178
Rental revenues	1,607,685		1,280,181		327,504
BMS cleaning fees	137,673		146,530		(8,857)		(4)
Management and leasing fees	11,039		11,645		(606)
Other income	43,598		11,086		32,512
Fee and other income	192,310		169,261		23,049
Total revenues	$	1,799,995	$	1,449,442	$	350,553

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See notes on following page.

3. Revenue Recognition - continued


(Amounts in thousands)	For the Year Ended December 31, 2021
	Total		New York		Other
Property rentals	$	1,354,209	$	1,071,816	$	282,393
Trade shows(2)	19,482		—		19,482
Lease revenues(3)	1,373,691		1,071,816		301,875
Tenant services	37,449		26,048		11,401
Parking revenues	13,391		11,370		2,021
Rental revenues	1,424,531		1,109,234		315,297
BMS cleaning fees	119,780		126,891		(7,111)		(4)
Management and leasing fees	11,725		12,177		(452)
Other income	33,174		9,297		23,877
Fee and other income	164,679		148,365		16,314
Total revenues	$	1,589,210	$	1,257,599	$	331,611

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(1)2023 includes the receipt of a $21,350 tenant settlement, of which $6,405 is attributable to noncontrolling interests.

(2)2022 and 2021 include revenues from The Armory Show. On July 3, 2023, we completed the sale of The Armory Show. See Note 7 - Dispositions for further information.

(3)The components of lease revenues were as follows:


	For the Year Ended December 31,
	2023		2022		2021
Fixed billings	$	1,387,731	$	1,376,527	$	1,277,645
Variable billings	150,045		122,947		108,850
Total contractual operating lease billings	1,537,776		1,499,474		1,386,495
Adjustment for straight-line rents and amortization of acquired below-market leases and other, net	12,756		44,715		(5,109)
Less: write-off of straight-line rent and tenant receivables deemed uncollectible	(5,861)		(872)		(7,695)
Lease revenues	$	1,544,671	$	1,543,317	$	1,373,691

(4)Represents the elimination of BMS cleaning fees related to THE MART and 555 California Street which are included as income in the New York segment.

Schedule of Components of Lease Revenues

The components of lease revenues were as follows:


	For the Year Ended December 31,
	2023		2022		2021
Fixed billings	$	1,387,731	$	1,376,527	$	1,277,645
Variable billings	150,045		122,947		108,850
Total contractual operating lease billings	1,537,776		1,499,474		1,386,495
Adjustment for straight-line rents and amortization of acquired below-market leases and other, net	12,756		44,715		(5,109)
Less: write-off of straight-line rent and tenant receivables deemed uncollectible	(5,861)		(872)		(7,695)
Lease revenues	$	1,544,671	$	1,543,317	$	1,373,691