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Segment Reporting (Tables)
6 Months Ended
Jun. 30, 2017
Segment Reporting [Abstract]  
Components of Segment Profit for Each Segment
The following tables provide components of segment profit for each segment for the three and six months ended June 30, 2017 and 2016 (amounts in thousands):

 
 
Three Months Ended June 30, 2017
 
 
Real Estate
 
Observatory
 
Intersegment Elimination
 
Total
Revenues:
 
 
 
 
 
 
 
 
Rental revenue
 
$
120,844

 
$
—

 
$
—

 
$
120,844

Intercompany rental revenue
 
20,675

 
—

 
(20,675
)
 
—

Tenant expense reimbursement
 
17,569

 
—

 
—

 
17,569

Observatory revenue
 
—

 
33,966

 
—

 
33,966

Third-party management and other fees
 
392

 
—

 
—

 
392

Other revenue and fees
 
4,353

 
—

 
—

 
4,353

Total revenues
 
163,833

 
33,966

 
(20,675
)
 
177,124

Operating expenses:
 
 
 
 
 
 
 
 
Property operating expenses
 
38,529

 
—

 
—

 
38,529

Intercompany rent expense
 
—

 
20,675

 
(20,675
)
 
—

Ground rent expense
 
2,332

 
—

 
—

 
2,332

General and administrative expenses
 
12,579

 
—

 
—

 
12,579

Observatory expenses
 
—

 
7,176

 
—

 
7,176

Real estate taxes
 
24,542

 
—

 
—

 
24,542

Depreciation and amortization
 
40,458

 
74

 
—

 
40,532

Total operating expenses
 
118,440

 
27,925

 
(20,675
)
 
125,690

Total operating income
 
45,393

 
6,041

 
—

 
51,434

Other expense:

 
 
 
 
 
 
 
 
Interest expense
 
(17,477
)
 
—

 
—

 
(17,477
)
Loss from derivative financial instruments

 
(42
)
 
—

 
—

 
(42
)
Income before income taxes
 
27,874

 
6,041

 
—

 
33,915

Income tax expense
 
(413
)
 
(2,143
)
 
—

 
(2,556
)
Net income
 
$
27,461

 
$
3,898

 
$
—

 
$
31,359

Segment assets
 
$
3,579,873

 
$
251,328

 
$
—

 
$
3,831,201

Expenditures for segment assets
 
$
54,474

 
$
6,850

 
$
—

 
$
61,324



 
 
Three Months Ended June 30, 2016
 
 
Real Estate
 
Observatory
 
Intersegment Elimination
 
Total
Revenues:
 
 
 
 
 
 
 
 
Rental revenue
 
$
112,613

 
$
—

 
$
—

 
$
112,613

Intercompany rental revenue
 
18,488

 
—

 
(18,488
)
 
—

Tenant expense reimbursement
 
19,054

 
—

 
—

 
19,054

Observatory revenue
 
—

 
31,838

 
—

 
31,838

Third-party management and other fees
 
423

 
—

 
—

 
423

Other revenue and fees
 
1,882

 
5

 
—

 
1,887

Total revenues
 
152,460

 
31,843

 
(18,488
)
 
165,815

Operating expenses:
 
 
 
 
 
 
 
 
Property operating expenses
 
37,386

 
—

 
—

 
37,386

Intercompany rent expense
 
—

 
18,488

 
(18,488
)
 
—

Ground rent expense
 
2,330

 
—

 
—

 
2,330

General and administrative expenses
 
12,907

 
—

 
—

 
12,907

Observatory expenses
 
—

 
6,895

 
—

 
6,895

Real estate taxes
 
23,557

 
—

 
—

 
23,557

Acquisition expenses
 
—

 
—

 
—

 
—

Depreciation and amortization
 
38,451

 
97

 
—

 
38,548

Total operating expenses
 
114,631

 
25,480

 
(18,488
)
 
121,623

Total operating income
 
37,829

 
6,363

 
—

 
44,192

Interest expense
 
(17,420
)
 
—

 
—

 
(17,420
)
Income before income taxes
 
20,409

 
6,363

 
—

 
26,772

Income tax expense
 
(281
)
 
(1,851
)
 
—

 
(2,132
)
Net income
 
$
20,128

 
$
4,512

 
$
—

 
$
24,640

Segment assets
 
$
3,056,928

 
$
244,726

 
$
—

 
$
3,301,654

Expenditures for segment assets
 
$
63,766

 
$
47

 
$
—

 
$
63,813


 
 
Six Months Ended June 30, 2017
 
 
Real Estate
 
Observatory
 
Intersegment Elimination
 
Total
Revenues:
 
 
 
 
 
 
 
 
Rental revenue
 
$
237,957

 
$
—

 
$
—

 
$
237,957

Intercompany rental revenue
 
34,053

 
—

 
(34,053
)
 
—

Tenant expense reimbursement
 
33,543

 
—

 
—

 
33,543

Observatory revenue
 
—

 
54,906

 
—

 
54,906

Third-party management and other fees
 
743

 
—

 
—

 
743

Other revenue and fees
 
14,929

 
—

 
—

 
14,929

Total revenues
 
321,225

 
54,906

 
(34,053
)
 
342,078

Operating expenses:
 
 
 
 
 
 
 
 
Property operating expenses
 
80,739

 
—

 
—

 
80,739

Intercompany rent expense
 
—

 
34,053

 
(34,053
)
 
—

Ground rent expense
 
4,663

 
—

 
—

 
4,663

General and administrative expenses
 
23,667

 
—

 
—

 
23,667

Observatory expenses
 
—

 
14,431

 
—

 
14,431

Real estate taxes
 
49,100

 
—

 
—

 
49,100

Acquisition expenses
 
—

 
—

 
—

 
—

Depreciation and amortization
 
81,291

 
87

 
—

 
81,378

Total operating expenses
 
239,460

 
48,571

 
(34,053
)
 
253,978

Total operating income
 
81,765

 
6,335

 
—

 
88,100

Interest expense
 
(35,219
)
 
—

 
—

 
(35,219
)
Loss from derivative financial instruments
 
(289
)
 
—

 
—

 
(289
)
Income before income taxes
 
46,257

 
6,335

 
—

 
52,592

Income tax expense
 
(696
)
 
(1,392
)
 
—

 
(2,088
)
Net income
 
$
45,561

 
$
4,943

 
$
—

 
$
50,504

Expenditures for segment assets
 
$
102,534

 
$
6,850

 
$
—

 
$
109,384

 
 
Six Months Ended June 30, 2016
 
 
Real Estate
 
Observatory
 
Intersegment Elimination
 
Total
Revenues:
 
 
 
 
 
 
 
 
Rental revenue
 
$
227,521

 
$
—

 
$
—

 
$
227,521

Intercompany rental revenue
 
32,206

 
—

 
(32,206
)
 
—

Tenant expense reimbursement
 
37,174

 
—

 
—

 
37,174

Observatory revenue
 
—

 
53,019

 
—

 
53,019

Third-party management and other fees
 
968

 
—

 
—

 
968

Other revenue and fees
 
4,202

 
5

 
—

 
4,207

Total revenues
 
302,071

 
53,024

 
(32,206
)
 
322,889

Operating expenses:
 
 
 
 
 
 
 
 
Property operating expenses
 
76,490

 
—

 
—

 
76,490

Intercompany rent expense
 
—

 
32,206

 
(32,206
)
 
—

Ground rent expense
 
4,663

 
—

 
—

 
4,663

General and administrative expenses
 
23,825

 
—

 
—

 
23,825

Observatory expenses
 
—

 
14,650

 
—

 
14,650

Real estate taxes
 
47,082

 
—

 
—

 
47,082

Acquisition expenses
 
98

 
—

 
—

 
98

Depreciation and amortization
 
77,581

 
194

 
—

 
77,775

Total operating expenses
 
229,739

 
47,050

 
(32,206
)
 
244,583

Total operating income
 
72,332

 
5,974

 
—

 
78,306

Interest expense
 
(35,371
)
 
—

 
—

 
(35,371
)
Income before income taxes
 
36,961

 
5,974

 
—

 
42,935

Income tax expense
 
(686
)
 
(904
)
 
—

 
(1,590
)
Net income
 
$
36,275

 
$
5,070

 
$
—

 
$
41,345

Expenditures for segment assets
 
$
87,224

 
$
47

 
$
—

 
$
87,271