Schedule of Segment Information |
Below is a summary of NOI at share and NOI at share - cash basis by segment for the years ended December 31, 2023, 2022 and 2021. | | | | | | | | | | | | | | | | | | (Amounts in thousands) | For the Year Ended December 31, 2023 | | Total | | New York | | Other | Total revenues | $ | 1,811,163 | | | $ | 1,452,158 | | | $ | 359,005 | | Operating expenses | (905,158) | | | (733,478) | | | (171,680) | | NOI - consolidated | 906,005 | | | 718,680 | | | 187,325 | | Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries | (48,553) | | | (15,547) | | | (33,006) | | Add: NOI from partially owned entities | 285,761 | | | 274,436 | | | 11,325 | | NOI at share | 1,143,213 | | | 977,569 | | | 165,644 | | Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other | (3,377) | | | (7,700) | | | 4,323 | | NOI at share - cash basis | $ | 1,139,836 | | | $ | 969,869 | | | $ | 169,967 | |
| | | | | | | | | | | | | | | | | | (Amounts in thousands) | For the Year Ended December 31, 2022 | | Total | | New York | | Other | Total revenues | $ | 1,799,995 | | | $ | 1,449,442 | | | $ | 350,553 | | Operating expenses | (873,911) | | | (716,148) | | | (157,763) | | NOI - consolidated | 926,084 | | | 733,294 | | | 192,790 | | Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries | (70,029) | | | (45,566) | | | (24,463) | | Add: NOI from partially owned entities | 305,993 | | | 293,780 | | | 12,213 | | NOI at share | 1,162,048 | | | 981,508 | | | 180,540 | | Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other | (10,980) | | | (18,509) | | | 7,529 | | NOI at share - cash basis | $ | 1,151,068 | | | $ | 962,999 | | | $ | 188,069 | |
| | | | | | | | | | | | | | | | | | (Amounts in thousands) | For the Year Ended December 31, 2021 | | Total | | New York | | Other | Total revenues | $ | 1,589,210 | | | $ | 1,257,599 | | | $ | 331,611 | | Operating expenses | (797,315) | | | (626,386) | | | (170,929) | | NOI - consolidated | 791,895 | | | 631,213 | | | 160,682 | | Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries | (69,385) | | | (38,980) | | | (30,405) | | Add: NOI from partially owned entities | 310,858 | | | 300,721 | | | 10,137 | | NOI at share | 1,033,368 | | | 892,954 | | | 140,414 | | Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other | 1,318 | | | (1,188) | | | 2,506 | | NOI at share - cash basis | $ | 1,034,686 | | | $ | 891,766 | | | $ | 142,920 | |
23. Segment Information - continued Below is a reconciliation of net income (loss) to NOI at share and NOI at share - cash basis for the years ended December 31, 2023, 2022 and 2021. | | | | | | | | | | | | | | | | | | (Amounts in thousands) | For the Year Ended December 31, | | 2023 | | 2022 | | 2021 | Net income (loss) | $ | 32,888 | | | $ | (382,612) | | | $ | 207,553 | | Depreciation and amortization expense | 434,273 | | | 504,502 | | | 412,347 | | General and administrative expense | 162,883 | | | 133,731 | | | 134,545 | | Impairment losses, transaction related costs and other | 50,691 | | | 31,722 | | | 13,815 | | (Income) loss from partially owned entities | (38,689) | | | 461,351 | | | (130,517) | | Income from real estate fund investments | (1,590) | | | (3,541) | | | (11,066) | | Interest and other investment income, net | (41,697) | | | (19,869) | | | (4,612) | | Interest and debt expense | 349,223 | | | 279,765 | | | 231,096 | | | | | | | | Net gains on disposition of wholly owned and partially owned assets | (71,199) | | | (100,625) | | | (50,770) | | Income tax expense (benefit) | 29,222 | | | 21,660 | | | (10,496) | | | | | | | | NOI from partially owned entities | 285,761 | | | 305,993 | | | 310,858 | | NOI attributable to noncontrolling interests in consolidated subsidiaries | (48,553) | | | (70,029) | | | (69,385) | | NOI at share | 1,143,213 | | | 1,162,048 | | | 1,033,368 | | Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other | (3,377) | | | (10,980) | | | 1,318 | | NOI at share - cash basis | $ | 1,139,836 | | | $ | 1,151,068 | | | $ | 1,034,686 | |
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