Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Components of segment profit for each segment

The following tables provide components of segment profit for each segment for the three months ended March 31, 2020 and 2019 (amounts in thousands):

	Three Months Ended March 31, 2020
	Real Estate			Observatory			Intersegment Elimination			Total
Revenues:
Rental revenue	$	148,113		$	—		$	—		$	148,113
Intercompany rental revenue	11,536			—			(11,536		)	—
Observatory revenue	—			19,544			—			19,544
Lease termination fees	211			—			—			211
Third-party management and other fees	346			—			—			346
Other revenue and fees	2,010			—			—			2,010
Total revenues	162,216			19,544			(11,536		)	170,224
Operating expenses:
Property operating expenses	41,468			—			—			41,468
Intercompany rent expense	—			11,536			(11,536		)	—
Ground rent expense	2,331			—			—			2,331
General and administrative expenses	15,951			—			—			15,951
Observatory expenses	—			8,154			—			8,154
Real estate taxes	29,254			—			—			29,254
Depreciation and amortization	46,085			8			—			46,093
Total operating expenses	135,089			19,698			(11,536		)	143,251
Total operating income	27,127			(154		)	—			26,973
Other income (expense):
Interest income	637			—			—			637
Interest expense	(19,618		)	—			—			(19,618		)
Loss on early extinguishment of debt	(86		)	—			—			(86		)
Income before income taxes	8,060			(154		)	—			7,906
Income tax (expense) benefit	(227		)	609			—			382
Net income	$	7,833		$	455		$	—		$	8,288
Segment assets	$	4,409,281		$	255,277		$	—		$	4,664,558
Expenditures for segment assets	$	26,570		$	1,237		$	—		$	27,807

	Three Months Ended March 31, 2019
	Real Estate			Observatory			Intersegment Elimination			Total
Revenues:
Rental revenue	$	143,417		$	—		$	—		$	143,417
Intercompany rental revenue	14,021			—			(14,021		)	—
Tenant expense reimbursement	—			—			—			—
Observatory revenue	—			20,569			—			20,569
Lease termination fees	388			—			—			388
Third-party management and other fees	320			—			—			320
Other revenue and fees	2,599			—			—			2,599
Total revenues	160,745			20,569			(14,021		)	167,293
Operating expenses:
Property operating expenses	42,955			—			—			42,955
Intercompany rent expense	—			14,021			(14,021		)	—
Ground rent expense	2,331			—			—			2,331
General and administrative expenses	14,026			—			—			14,026
Observatory expenses	—			7,575			—			7,575
Real estate taxes	28,232			—			—			28,232
Depreciation and amortization	46,091			7			—			46,098
Total operating expenses	133,635			21,603			(14,021		)	141,217
Total operating income	27,110			(1,034		)	—			26,076
Other income (expense):
Interest income	3,739			—			—			3,739
Interest expense	(20,689		)	—			—			(20,689		)
Income before income taxes	10,160			(1,034		)	—			9,126
Income tax (expense) benefit	(234		)	964			—			730
Net income	$	9,926		$	(70	)	$	—		$	9,856
Segment assets	$	3,930,697		$	261,743		$	—		$	4,192,440
Expenditures for segment assets	$	44,531		$	13,789		$	—		$	58,320