Segment Reporting

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Segment Reporting

Segment ReportingThe Company’s reporting segments are based on the Company’s method of internal reporting, which classifies its operations into two reportable segments: (i) office properties and related operations and (ii) studio properties and related operations. The Company evaluates performance based upon net operating income of the segment operations. General and administrative expenses and interest expense are not included in segment profit as the Company’s internal reporting addresses these items on a corporate level. Asset information by segment is not reported because the Company does not use this measure to assess performance or make decisions to allocate resources; therefore, depreciation and amortization expense is not allocated among segments.

The table below presents the operating activity of the Company’s reportable segments:

	Three Months Ended March 31,
	2022		2021
Office segment
Office revenues	$	211,400	$	192,143
Office expenses	(73,631)		(66,562)
Office segment profit	137,769		125,581
Studio segment
Studio revenues	33,113		20,976
Studio expenses	(18,983)		(11,453)
Studio segment profit	14,130		9,523
TOTAL SEGMENT PROFIT	$	151,899	$	135,104
Segment revenues	$	244,513	$	213,119
Segment expenses	(92,614)		(78,015)
TOTAL SEGMENT PROFIT	$	151,899	$	135,104

The table below is a reconciliation of the total profit from all segments to net (loss) income attributable to common stockholders:

	Three Months Ended March 31,
	2022		2021
NET (LOSS) INCOME	$	(7,615)	$	11,411
General and administrative	20,512		18,449
Depreciation and amortization	92,193		82,761
Income from unconsolidated real estate entities	(303)		(635)
Fee income	(1,071)		(848)
Interest expense	30,836		30,286
Interest income	(910)		(997)
Management services reimbursement income—unconsolidated real estate entities	(1,108)		—
Management services expense—unconsolidated real estate entities	1,108		—
Transaction-related expenses	256		—
Unrealized gain on non-real estate investments	(1,650)		(5,775)
Impairment loss	20,503		—
Other (income) expense	(852)		452
TOTAL PROFIT FROM ALL SEGMENTS	$	151,899	$	135,104