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Segments
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Segments
18. Segments

The Company has four business segments that offer different products and services. HHC’s four segments are managed separately because each requires different operating strategies or management expertise and are reflective of management’s operating philosophies and methods. As further discussed in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations, one common operating measure used to assess operating results for the Company’s business segments is earnings before taxes (EBT). The Company’s segments or assets within such segments could change in the future as development of certain properties commences or other operational or management changes occur. All operations are within the United States. The Company’s reportable segments are as follows:
–Operating Assets – consists of developed or acquired retail, office and multi-family properties along with other real estate investments. These properties are currently generating revenues and may be redeveloped, repositioned or sold to improve segment performance or to recycle capital.
–MPC – consists of the development and sale of land in large‑scale, long‑term community development projects in and around Las Vegas, Nevada; Houston, Texas; Phoenix, Arizona; and Columbia, Maryland.
–Seaport – consists of approximately 473,000 square feet of restaurant, retail and entertainment properties situated in three primary locations in New York, New York: Pier 17, Historic Area/Uplands and Tin Building as well as the 250 Water Street development, and equity interest in Jean-Georges Restaurants.
–Strategic Developments – consists of residential condominium and commercial property projects currently under development and all other properties held for development which have no substantial operations.

Segment operating results are as follows:
thousandsOperating Assets Segment (a)MPC SegmentSeaport SegmentStrategic Developments SegmentTotal
Year ended December 31, 2022
Total revenues$431,834 $408,365 $88,468 $679,763 $1,608,430 
Total operating expenses(194,496)(173,905)(104,393)(504,036)(976,830)
Segment operating income (loss)237,338 234,460 (15,925)175,727 631,600 
Depreciation and amortization(154,626)(394)(36,338)(5,319)(196,677)
Interest income (expense), net(89,959)50,305 3,902 17,073 (18,679)
Other income (loss), net(1,140)23 245 1,799 927 
Equity in earnings (losses) from unconsolidated ventures22,263 (1,407)(36,273)868 (14,549)
Gain (loss) on sale or disposal of real estate and other assets, net29,588 — — 90 29,678 
Gain (loss) on extinguishment of debt(2,230)— — — (2,230)
Segment EBT$41,234 $282,987 $(84,389)$190,238 $430,070 
Corporate income, expenses and other items(245,434)
Net income (loss)184,636 
Net (income) loss attributable to noncontrolling interests(103)
Net income (loss) attributable to common stockholders$184,533 
thousandsOperating Assets Segment (a)MPC SegmentSeaport SegmentStrategic Developments SegmentTotal
Year Ended December 31, 2021
Total revenues$442,698 $409,746 $55,008 $520,109 $1,427,561 
Total operating expenses(209,020)(193,851)(77,198)(436,698)(916,767)
Segment operating income (loss)233,678 215,895 (22,190)83,411 510,794 
Depreciation and amortization(163,031)(366)(30,867)(6,512)(200,776)
Interest income (expense), net(75,391)42,683 357 3,701 (28,650)
Other income (loss), net(10,746)— (3,730)2,536 (11,940)
Equity in earnings (losses) from unconsolidated ventures(67,042)59,399 (1,988)(221)(9,852)
Gain (loss) on sale or disposal of real estate and other assets, net39,168 — — 13,911 53,079 
Gain (loss) on extinguishment of debt(1,926)(1,004)— — (2,930)
Provision for impairment— — — (13,068)(13,068)
Segment EBT$(45,290)$316,607 $(58,418)$83,758 $296,657 
Corporate income, expenses and other items(247,733)
Net income (loss)48,924 
Net (income) loss attributable to noncontrolling interests7,176 
Net income (loss) attributable to common stockholders$56,100 
Year Ended December 31, 2020
Total revenues$372,057 $283,953 $23,814 $19,407 $699,231 
Total operating expenses(185,480)(128,597)(46,112)(135,160)(495,349)
Segment operating income (loss)186,577 155,356 (22,298)(115,753)203,882 
Depreciation and amortization(162,324)(365)(41,602)(6,545)(210,836)
Interest income (expense), net(91,411)36,587 (12,512)6,312 (61,024)
Other income (loss), net540 — (2,616)2,165 89 
Equity in earnings (losses) from unconsolidated ventures(7,366)17,845 (9,292)269,912 271,099 
Gain (loss) on sale or disposal of real estate and other assets, net38,232 — — 21,710 59,942 
Gain (loss) on extinguishment of debt(1,521)— (11,648)— (13,169)
Provision for impairment(48,738)— — — (48,738)
Segment EBT$(86,011)$209,423 $(99,968)$177,801 $201,245 
Corporate income, expenses and other items(204,418)
Net income (loss)(3,173)
Net (income) loss attributable to noncontrolling interests(22,981)
Net income (loss) attributable to common stockholders$(26,154)
(a)Total revenues includes hospitality revenues of $35.6 million for the year ended December 31, 2021, and $35.2 million for the year ended December 31, 2020. Total operating expenses includes hospitality operating costs of $30.5 million for the year ended December 31, 2021, and $32.3 million for the year ended December 31, 2020. In September 2021, the Company completed the sale of its three hospitality properties. Refer to Note 3 - Acquisitions and Dispositions for additional information.

The following represents assets by segment and the reconciliation of total segment assets to the total assets in the Consolidated Balance Sheets as of December 31:
thousands20222021
Operating Assets$3,448,823 $3,607,718 
Master Planned Communities3,272,655 3,056,240 
Seaport1,166,950 1,046,992 
Strategic Developments1,359,180 1,193,549 
Total segment assets9,247,608 8,904,499 
Corporate 355,855 677,195 
Total assets$9,603,463 $9,581,694