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Segment Reporting (Tables)
12 Months Ended
Dec. 31, 2018
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following tables provide components of segment profit for each segment for the years ended December 31, 2018, 2017 and 2016, as reviewed by management (amounts in thousands):
 
 
2018
 
 
Real Estate
 
Observatory
 
Intersegment Elimination
 
Total
Revenues:
 
 
 
 
 
 
 
 
Rental revenue
 
$
493,231

 
$

 
$

 
$
493,231

Intercompany rental revenue
 
79,954

 

 
(79,954
)
 

Tenant expense reimbursement
 
72,372

 

 

 
72,372

Observatory revenue
 

 
131,227

 

 
131,227

Lease termination fees
 
20,847

 

 

 
20,847

Third-party management and other fees
 
1,440

 

 

 
1,440

Other revenue and fees
 
12,394

 

 

 
12,394

Total revenues
 
680,238

 
131,227

 
(79,954
)
 
731,511

Operating expenses:
 
 
 
 
 
 
 
 
Property operating expenses
 
167,379

 

 

 
167,379

Intercompany rent expense
 

 
79,954

 
(79,954
)
 

Ground rent expense
 
9,326

 

 

 
9,326

General and administrative expenses
 
52,674

 

 

 
52,674

Observatory expenses
 

 
32,767

 

 
32,767

Real estate taxes
 
110,000

 

 

 
110,000

Depreciation and amortization
 
168,430

 
78

 

 
168,508

Total operating expenses
 
507,809

 
112,799

 
(79,954
)
 
540,654

Total operating income
 
172,429

 
18,428

 

 
190,857

Other income (expense):
 
 
 
 
 
 
 
 
Interest income
 
10,661

 

 

 
10,661

Interest expense
 
(79,623
)
 

 

 
(79,623
)
Income before income taxes
 
103,467

 
18,428

 

 
121,895

Income tax expense
 
(1,114
)
 
(3,528
)
 

 
(4,642
)
Net income
 
$
102,353

 
$
14,900

 
$

 
$
117,253

Segment assets
 
$
3,930,330

 
$
265,450

 
$

 
$
4,195,780

Expenditures for segment assets
 
$
201,685

 
$
54,811

 
$

 
$
256,496

 
 
2017
 
 
Real Estate
 
Observatory
 
Intersegment Elimination
 
Total
Revenues:
 
 
 
 
 
 
 
 
Rental revenue
 
$
483,944

 
$

 
$

 
$
483,944

Intercompany rental revenue
 
77,646

 

 
(77,646
)
 

Tenant expense reimbursement
 
73,679

 

 

 
73,679

Observatory revenue
 

 
127,118

 

 
127,118

Lease termination fees
 
13,551

 

 

 
13,551

Third-party management and other fees
 
1,400

 

 

 
1,400

Other revenue and fees
 
9,834

 

 

 
9,834

Total revenues
 
660,054

 
127,118

 
(77,646
)
 
709,526

Operating expenses:
 
 
 
 
 
 
 
 
Property operating expenses
 
163,531

 

 

 
163,531

Intercompany rent expense
 

 
77,646

 
(77,646
)
 

Ground rent expense
 
9,326

 

 

 
9,326

General and administrative expenses
 
50,315

 

 

 
50,315

Observatory expenses
 

 
30,275

 

 
30,275

Real estate taxes
 
102,466

 

 

 
102,466

Depreciation and amortization
 
160,630

 
80

 

 
160,710

Total operating expenses
 
486,268

 
108,001

 
(77,646
)
 
516,623

Total operating income (loss)
 
173,786

 
19,117

 

 
192,903

Other income (expense):
 
 
 
 
 
 
 
 
Interest income
 
2,942

 

 

 
2,942

Interest expense
 
(68,473
)
 

 

 
(68,473
)
Loss on early extinguishment of debt
 
(2,157
)
 

 

 
(2,157
)
Loss from derivative financial instrument
 
(289
)
 

 

 
(289
)
Income before income taxes
 
105,809

 
19,117

 

 
124,926

Income tax expense
 
(1,306
)
 
(5,367
)
 

 
(6,673
)
Net income
 
$
104,503

 
$
13,750

 
$

 
$
118,253

Segment assets
 
$
3,670,907

 
$
260,440

 
$

 
$
3,931,347

Expenditures for segment assets
 
$
191,541

 
$
36,621

 
$

 
$
228,162



 
 
2016
 
 
Real Estate
 
Observatory
 
 
Intersegment Elimination
 
Total
Revenues:
 
 
 
 
 
 
 
 
 
Rental revenue
 
$
460,653

 
$

 
 
$

 
$
460,653

Intercompany rental revenue
 
75,658

 

 
 
(75,658
)
 

Tenant expense reimbursement
 
73,459

 

 
 

 
73,459

Observatory revenue
 

 
124,814

 
 

 
124,814

Lease termination fees
 
7,676

 

 
 

 
7,676

Third-party management and other fees
 
1,766

 

 
 

 
1,766

Other revenue and fees
 
8,970

 
15

 
 

 
8,985

Total revenues
 
628,182

 
124,829

 
 
(75,658
)
 
677,353

Operating expenses:
 
 
 
 
 
 
 
 
 
Property operating expenses
 
153,850

 

 
 

 
153,850

Intercompany rent expense
 

 
75,658

 
 
(75,658
)
 

Ground rent expense
 
9,326

 

 
 

 
9,326

General and administrative expenses
 
49,078

 

 
 

 
49,078

Observatory expenses
 

 
29,833

 
 

 
29,833

Real estate taxes
 
96,061

 

 
 

 
96,061

Acquisition expenses
 
98

 

 
 

 
98

Depreciation and amortization
 
154,817

 
394

 
 

 
155,211

Total operating expenses
 
463,230

 
105,885

 
 
(75,658
)
 
493,457

Total operating income (loss)
 
164,952

 
18,944

 
 

 
183,896

Other income (expense):
 
 
 
 
 
 
 
 
 
Interest income
 
647

 

 
 

 
647

Interest expense
 
(70,595
)
 

 
 

 
(70,595
)
Loss on early extinguishment of debt
 
(552
)
 

 
 

 
(552
)
Income (loss) before income taxes
 
94,452

 
18,944

 
 

 
113,396

Income tax expense
 
(1,361
)
 
(4,785
)
 
 

 
(6,146
)
Net income
 
$
93,091

 
$
14,159

 
 
$

 
$
107,250

Segment assets
 
$
3,641,844

 
$
249,109

 
 
$

 
$
3,890,953

Expenditures for segment assets
 
$
197,680

 
$

 
 
$

 
$
197,680