Summary of Revenue Sources by Segment |
Below is a summary of our revenues by segment. Additional financial information related to these reportable segments for the three and nine months ended September 30, 2021 and 2020 is set forth in Note 21 - Segment Information. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Amounts in thousands) | For the Three Months Ended September 30, 2021 | | For the Three Months Ended September 30, 2020 | | | Total | | New York | | Other | | Total | | New York | | Other | | Property rentals(1) | $ | 345,235 | | | $ | 273,197 | | | $ | 72,038 | | | $ | 312,748 | | | $ | 248,328 | | | $ | 64,420 | | | | | | | | | | | | | | | | Trade shows(2) | 12,605 | | | — | | | 12,605 | | | — | | | — | | | — | | | Lease revenues(3) | 357,840 | | | 273,197 | | | 84,643 | | | 312,748 | | | 248,328 | | | 64,420 | | | Tenant services | 11,363 | | | 7,565 | | | 3,798 | | | 9,505 | | | 6,589 | | | 2,916 | | | Rental revenues | 369,203 | | | 280,762 | | | 88,441 | | | 322,253 | | | 254,917 | | | 67,336 | | | BMS cleaning fees | 30,827 | | | 32,630 | | | (1,803) | | (4) | 24,054 | | | 25,592 | | | (1,538) | | (4) | Management and leasing fees | 2,509 | | | 2,680 | | | (171) | | | 11,649 | | | 11,732 | | | (83) | | | Other income | 6,673 | | | 571 | | | 6,102 | | | 6,006 | | | 904 | | | 5,102 | | | Fee and other income | 40,009 | | | 35,881 | | | 4,128 | | | 41,709 | | | 38,228 | | | 3,481 | | | Total revenues | $ | 409,212 | | | $ | 316,643 | | | $ | 92,569 | | | $ | 363,962 | | | $ | 293,145 | | | $ | 70,817 | | |
____________________ See notes below. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Amounts in thousands) | For the Nine Months Ended September 30, 2021 | | For the Nine Months Ended September 30, 2020 | | | Total | | New York | | Other | | Total | | New York | | Other | | Property rentals(1) | $ | 1,008,237 | | | $ | 795,841 | | | $ | 212,396 | | | $ | 992,238 | | | $ | 788,248 | | | $ | 203,990 | | | Hotel Pennsylvania(5) | — | | | — | | | — | | | 8,741 | | | 8,741 | | | — | | | Trade shows(2) | 12,605 | | | — | | | 12,605 | | | 11,303 | | | — | | | 11,303 | | | Lease revenues(3) | 1,020,842 | | | 795,841 | | | 225,001 | | | 1,012,282 | | | 796,989 | | | 215,293 | | | Tenant services | 27,274 | | | 18,502 | | | 8,772 | | | 26,439 | | | 18,310 | | | 8,129 | | | Rental revenues | 1,048,116 | | | 814,343 | | | 233,773 | | | 1,038,721 | | | 815,299 | | | 223,422 | | | BMS cleaning fees | 87,387 | | | 92,178 | | | (4,791) | | (4) | 77,635 | | | 82,426 | | | (4,791) | | (4) | Management and leasing fees | 10,951 | | | 11,290 | | | (339) | | | 16,353 | | | 16,307 | | | 46 | | | Other income | 21,676 | | | 3,947 | | | 17,729 | | | 18,811 | | | 5,356 | | | 13,455 | | | Fee and other income | 120,014 | | | 107,415 | | | 12,599 | | | 112,799 | | | 104,089 | | | 8,710 | | | Total revenues | $ | 1,168,130 | | | $ | 921,758 | | | $ | 246,372 | | | $ | 1,151,520 | | | $ | 919,388 | | | $ | 232,132 | | |
____________________ (1)Reduced by $22,135 and $60,766 for the three and nine months ended September 30, 2020, respectively, for the write-off of lease receivables deemed uncollectible (primarily write-offs of receivables arising from the straight-lining of rents). (2)We cancelled trade shows at theMART beginning late March of 2020 due to the COVID-19 pandemic and resumed in the third quarter of 2021. (3)The components of lease revenues were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended September 30, | | For the Nine Months Ended September 30, | | 2021 | | 2020 | | 2021 | | 2020 | Fixed billings | $ | 329,499 | | | $ | 307,013 | | | $ | 945,322 | | | $ | 983,669 | | Variable billings | 29,008 | | | 29,574 | | | 90,780 | | | 100,057 | | Total contractual operating lease billings | 358,507 | | | 336,587 | | | 1,036,102 | | | 1,083,726 | | Adjustment for straight-line rents and amortization of acquired below-market leases and other, net | 1,313 | | | (1,704) | | | (8,041) | | | (10,678) | | Less: write-off of straight-line rent and tenant receivables deemed uncollectible | (1,980) | | | (22,135) | | | (7,219) | | | (60,766) | | Lease revenues | $ | 357,840 | | | $ | 312,748 | | | $ | 1,020,842 | | | $ | 1,012,282 | |
(4)Represents the elimination of theMART and 555 California Street Building Maintenance Services LLC ("BMS") cleaning fees which are included as income in the New York segment. (5)On April 5, 2021, we permanently closed the Hotel Pennsylvania.
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