XML 69 R58.htm IDEA: XBRL DOCUMENT v3.19.2
Segment Reporting - Components of Segment Profit for Each Segment (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
Revenues:          
Rental revenue $ 141,071   $ 284,488    
Rental revenue   $ 124,038   $ 246,349  
Intercompany rental revenue 0 0 0 0  
Tenant expense reimbursement 0 16,205 0 33,999  
Observatory revenue 32,895 35,201 53,464 56,450  
Lease termination fees 363 357 751 979  
Third-party management and other fees 331 376 651 839  
Other revenue and fees 1,584 2,352 4,183 7,184  
Total revenues 176,244 178,529 343,537 345,800  
Operating expenses:          
Property operating expenses 40,227 39,418 83,182 83,603  
Intercompany rent expense 0 0 0 0  
Ground rent expenses 2,332 2,332 4,663 4,663  
General and administrative expenses 15,998 13,225 30,024 25,853  
Observatory expenses 8,360 7,678 15,935 15,014  
Real estate taxes 28,267 26,743 56,499 53,487  
Depreciation and amortization 44,821 39,468 90,919 79,351  
Total operating expenses 140,005 128,864 281,222 261,971  
Total operating income 36,239 49,665 62,315 83,829  
Other income (expense):          
Interest income 3,899 2,499 7,638 3,724  
Interest expense (20,597) (20,525) (41,286) (38,116)  
Income before income taxes 19,541 31,639 28,667 49,437  
Income tax (expense) benefit (611) (1,455) 119 (1,195)  
Net income 18,930 30,184 28,786 48,242  
Segment assets 4,155,575 4,162,905 4,155,575 4,162,905 $ 4,195,780
Expenditures for segment assets 61,972 76,889 120,292 123,239  
Intersegment Elimination          
Revenues:          
Rental revenue 0   0    
Rental revenue   0   0  
Intercompany rental revenue (21,491) (21,990) (35,512) (35,551)  
Tenant expense reimbursement   0   0  
Observatory revenue 0 0 0 0  
Lease termination fees 0 0 0 0  
Third-party management and other fees 0 0 0 0  
Other revenue and fees 0 0 0 0  
Total revenues (21,491) (21,990) (35,512) (35,551)  
Operating expenses:          
Property operating expenses 0 0 0 0  
Intercompany rent expense (21,491) (21,990) (35,512) (35,551)  
Ground rent expenses 0 0 0 0  
General and administrative expenses 0 0 0 0  
Observatory expenses 0 0 0 0  
Real estate taxes 0 0 0 0  
Depreciation and amortization 0 0 0 0  
Total operating expenses (21,491) (21,990) (35,512) (35,551)  
Total operating income 0 0 0 0  
Other income (expense):          
Interest income 0 0 0 0  
Interest expense 0 0 0 0  
Income before income taxes 0 0 0 0  
Income tax (expense) benefit 0 0 0 0  
Net income 0 0 0 0  
Segment assets 0 0 0 0  
Expenditures for segment assets 0 0 0 0  
Real Estate | Operating Segments          
Revenues:          
Rental revenue 141,071   284,488    
Rental revenue   124,038   246,349  
Intercompany rental revenue 21,491 21,990 35,512 35,551  
Tenant expense reimbursement   16,205   33,999  
Observatory revenue 0 0 0 0  
Lease termination fees 363 357 751 979  
Third-party management and other fees 331 376 651 839  
Other revenue and fees 1,584 2,352 4,183 7,184  
Total revenues 164,840 165,318 325,585 324,901  
Operating expenses:          
Property operating expenses 40,227 39,418 83,182 83,603  
Intercompany rent expense 0 0 0 0  
Ground rent expenses 2,332 2,332 4,663 4,663  
General and administrative expenses 15,998 13,225 30,024 25,853  
Observatory expenses 0 0 0 0  
Real estate taxes 28,267 26,743 56,499 53,487  
Depreciation and amortization 44,813 39,452 90,904 79,317  
Total operating expenses 131,637 121,170 265,272 246,923  
Total operating income 33,203 44,148 60,313 77,978  
Other income (expense):          
Interest income 3,899 2,499 7,638 3,724  
Interest expense (20,597) (20,525) (41,286) (38,116)  
Income before income taxes 16,505 26,122 26,665 43,586  
Income tax (expense) benefit (261) (268) (495) (575)  
Net income 16,244 25,854 26,170 43,011  
Segment assets 3,891,038 3,902,676 3,891,038 3,902,676  
Expenditures for segment assets 47,433 61,017 91,964 95,816  
Observatory | Operating Segments          
Revenues:          
Rental revenue 0   0    
Rental revenue   0   0  
Intercompany rental revenue 0 0 0 0  
Tenant expense reimbursement   0   0  
Observatory revenue 32,895 35,201 53,464 56,450  
Lease termination fees 0 0 0 0  
Third-party management and other fees 0 0 0 0  
Other revenue and fees 0 0 0 0  
Total revenues 32,895 35,201 53,464 56,450  
Operating expenses:          
Property operating expenses 0 0 0 0  
Intercompany rent expense 21,491 21,990 35,512 35,551  
Ground rent expenses 0 0 0 0  
General and administrative expenses 0 0 0 0  
Observatory expenses 8,360 7,678 15,935 15,014  
Real estate taxes 0 0 0 0  
Depreciation and amortization 8 16 15 34  
Total operating expenses 29,859 29,684 51,462 50,599  
Total operating income 3,036 5,517 2,002 5,851  
Other income (expense):          
Interest income 0 0 0 0  
Interest expense 0 0 0 0  
Income before income taxes 3,036 5,517 2,002 5,851  
Income tax (expense) benefit (350) (1,187) 614 (620)  
Net income 2,686 4,330 2,616 5,231  
Segment assets 264,537 260,229 264,537 260,229  
Expenditures for segment assets $ 14,539 $ 15,872 $ 28,328 $ 27,423