Revenue Recognition

9 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue Recognition

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, 2023 and 2022 is set forth in Note 20 - Segment Information.

(Amounts in thousands)	For the Three Months Ended September 30, 2023							For the Three Months Ended September 30, 2022
	Total		New York		Other			Total		New York		Other
Property rentals	$	376,505	$	306,717	$	69,788		$	371,754	$	303,574	$	68,180
Trade shows(1)	6,178		—		6,178			18,654		—		18,654
Lease revenues(2)	382,683		306,717		75,966			390,408		303,574		86,834
Tenant services	12,793		8,789		4,004			14,134		9,937		4,197
Parking revenues	4,891		3,950		941			4,602		3,820		782
Rental revenues	400,367		319,456		80,911			409,144		317,331		91,813
BMS cleaning fees	35,428		37,999		(2,571)		(3)	35,062		37,371		(2,309)		(3)
Management and leasing fees	3,263		3,441		(178)			2,532		2,595		(63)
Other income	11,937		3,872		8,065			10,693		2,736		7,957
Fee and other income	50,628		45,312		5,316			48,287		42,702		5,585
Total revenues	$	450,995	$	364,768	$	86,227		$	457,431	$	360,033	$	97,398

____________________

See notes below.

(Amounts in thousands)	For the Nine Months Ended September 30, 2023							For the Nine Months Ended September 30, 2022
	Total		New York		Other			Total		New York		Other
Property rentals	$	1,150,387	$	919,621	$	230,766	(4)	$	1,132,690	$	921,179	$	211,511
Trade shows(1)	18,008		—		18,008			29,640		—		29,640
Lease revenues(2)	1,168,395		919,621		248,774			1,162,330		921,179		241,151
Tenant services	32,366		23,696		8,670			35,484		25,481		10,003
Parking revenues	15,233		12,357		2,876			13,807		11,556		2,251
Rental revenues	1,215,994		955,674		260,320			1,211,621		958,216		253,405
BMS cleaning fees	105,902		113,431		(7,529)		(3)	101,752		108,288		(6,536)		(3)
Management and leasing fees	9,970		10,375		(405)			8,167		8,573		(406)
Other income	37,411		11,573		25,838			31,515		7,666		23,849
Fee and other income	153,283		135,379		17,904			141,434		124,527		16,907
Total revenues	$	1,369,277	$	1,091,053	$	278,224		$	1,353,055	$	1,082,743	$	270,312

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(1)The three and nine months ended September 30, 2022 include revenues from The Armory Show. On July 3, 2023, we completed the sale of The Armory Show. See Note 8 - Dispositions for further information.

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

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2023		2022		2023		2022
Fixed billings	$	338,921	$	353,040	$	1,049,161	$	1,025,182
Variable billings	39,968		28,919		115,123		93,118
Total contractual operating lease billings	378,889		381,959		1,164,284		1,118,300
Adjustment for straight-line rents and amortization of acquired below-market leases and other, net	3,794		8,730		4,111		44,812
Less: write-off of straight-line rent and tenant receivables deemed uncollectible	—		(281)		—		(782)
Lease revenues	$	382,683	$	390,408	$	1,168,395	$	1,162,330

(3)Represents the elimination of Building Maintenance Services LLC ("BMS") cleaning fees related to THE MART and 555 California Street which are included as income in the New York segment.

(4)The nine months ended September 30, 2023 include the receipt of a $21,350 tenant settlement, of which $6,405 is attributable to noncontrolling interests.