Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2016

The following tables provide components of segment profit for each segment for the three months ended March 31, 2016 and 2015 (amounts in thousands):



	Three Months Ended March 31, 2016
	Real Estate			Observatory			Intersegment Elimination			Total
Revenues:
Rental revenue	$	114,908		$	—		$	—		$	114,908
Intercompany rental revenue	13,718			—			(13,718		)	—
Tenant expense reimbursement	18,120			—			—			18,120
Observatory revenue	—			21,181			—			21,181
Third-party management and other fees	545			—			—			545
Other revenue and fees	2,320			—			—			2,320
Total revenues	149,611			21,181			(13,718		)	157,074
Operating expenses:
Property operating expenses	39,104			—			—			39,104
Intercompany rent expense	—			13,718			(13,718		)	—
Ground rent expense	2,333			—			—			2,333
General and administrative expenses	10,918			—			—			10,918
Observatory expenses	—			7,755			—			7,755
Real estate taxes	23,525			—			—			23,525
Acquisition expenses	98			—			—			98
Depreciation and amortization	39,130			97			—			39,227
Total operating expenses	115,108			21,570			(13,718		)	122,960
Total operating income (loss)	34,503			(389		)	—			34,114
Interest expense	(17,951		)	—			—			(17,951		)
Income (loss) before income taxes	16,552			(389		)	—			16,163
Income tax benefit (expense)	(405		)	947			—			542
Net income	$	16,147		$	558		$	—		$	16,705
Segment assets	$	3,015,802		$	247,569		$	—		$	3,263,371
Expenditures for segment assets	$	23,458		$	—		$	—		$	23,458



	Three Months Ended March 31, 2015
	Real Estate			Observatory			Other			Intersegment Elimination			Total
Revenues:
Rental revenue	$	110,058		$	—		$	—		$	—		$	110,058
Intercompany rental revenue	11,664			—			—			(11,664		)	—
Tenant expense reimbursement	18,200			—			—			—			18,200
Observatory revenue	—			18,223			—			—			18,223
Construction revenue	—			—			3,922			(2,315		)	1,607
Third-party management and other fees	446			—			—			—			446
Other revenue and fees	3,348			—			—			—			3,348
Total revenues	143,716			18,223			3,922			(13,979		)	151,882
Operating expenses:
Property operating expenses	42,027			—			—			—			42,027
Intercompany rent expense	—			11,664			—			(11,664		)	—
Ground rent expense	2,331			—			—			—			2,331
General and administrative expenses	9,100			—			—			—			9,100
Observatory expenses	—			7,402			—			—			7,402
Construction expenses	—			—			4,973			(2,104		)	2,869
Real estate taxes	22,978			—			—			—			22,978
Depreciation and amortization	41,233			79			106			—			41,418
Total operating expenses	117,669			19,145			5,079			(13,768		)	128,125
Total operating income (loss)	26,047			(922		)	(1,157		)	(211		)	23,757
Interest expense	(16,047		)	—			—			—			(16,047		)
Income (loss) before income taxes	10,000			(922		)	(1,157		)	(211		)	7,710
Income tax benefit (expense)	(351		)	256			273			—			178
Net income (loss)	$	9,649		$	(666	)	$	(884	)	$	(211	)	$	7,888
Segment assets	$	3,017,669		$	251,662		$	3,657		$	—		$	3,272,988
Expenditures for segment assets	$	37,393		$	—		$	—		$	—		$	37,393