21.	Segments Disclosure

Our reportable segments are separated by region based on the three regions in which we conduct our business: New York, Washington, D.C. and San Francisco. Our determination of segments is aligned with our method of internal reporting and the way our Chief Executive Officer, who is also our Chief Operating Decision Maker, makes key operating decisions, evaluates financial results and manages our business.

The following tables provide NOI for each reportable segment for the three and six months ended June 30, 2017 and 2016.

	For the Three Months Ended June 30, 2017
(Amounts in thousands)	Total			New York			Washington, D.C.			San Francisco			Other
Property-related revenues	$	173,256		$	106,602		$	18,138		$	48,201		$	315
Property-related operating expenses		(63,461	)		(43,289	)		(6,565	)		(11,120	)		(2,487	)
NOI from unconsolidated joint ventures		4,958			4,838			-			-			120
NOI⁽¹⁾	$	114,753		$	68,151		$	11,573		$	37,081		$	(2,052	)

	For the Three Months Ended June 30, 2016
(Amounts in thousands)	Total			New York			Washington, D.C.			San Francisco			Other
Property-related revenues	$	168,128		$	114,351		$	21,478		$	31,702		$	597
Property-related operating expenses		(59,994	)		(42,543	)		(8,094	)		(7,259	)		(2,098	)
NOI from unconsolidated joint ventures		4,536			4,456			-			-			80
NOI⁽¹⁾	$	112,670		$	76,264		$	13,384		$	24,443		$	(1,421	)

	For the Six Months Ended June 30, 2017
(Amounts in thousands)	Total			New York			Washington, D.C.			San Francisco			Other
Property-related revenues	$	344,936		$	211,926		$	41,925		$	90,140		$	945
Property-related operating expenses		(129,432	)		(88,048	)		(15,489	)		(21,725	)		(4,170	)
NOI from unconsolidated joint ventures		9,781			9,591			-			-			190
NOI⁽¹⁾	$	225,285		$	133,469		$	26,436		$	68,415		$	(3,035	)

	For the Six Months Ended June 30, 2016
(Amounts in thousands)	Total			New York			Washington, D.C.			San Francisco			Other
Property-related revenues	$	337,629		$	233,654		$	41,460		$	61,321		$	1,194
Property-related operating expenses		(122,939	)		(86,680	)		(16,369	)		(14,432	)		(5,458	)
NOI from unconsolidated joint ventures		8,964			8,803			-			-			161
NOI⁽¹⁾	$	223,654		$	155,777		$	25,091		$	46,889		$	(4,103	)

⁽¹⁾

Net Operating Income (“NOI”) is used to measure the operating performance of our properties. NOI consists of property-related revenue (which includes rental income, tenant reimbursement income and certain other income) less operating expenses (which includes building expenses such as cleaning, security, repairs and maintenance, utilities, property administration and real estate taxes). We use NOI internally as a performance measure and believe it provides useful information to investors regarding our financial condition and results of operations because it reflects only those income and expense items that are incurred at the property level. Other real estate companies may use different methodologies for calculating NOI, and accordingly, our presentation of NOI may not be comparable to other real estate companies.

The following table provides a reconciliation of NOI to net income (loss) attributable to common stockholders for the three and six months ended June 30, 2017 and 2016.

	For the Three Months Ended						For the Six Months Ended
	June 30,						June 30,
(Amounts in thousands)	2017			2016			2017			2016
NOI	$	114,753		$	112,670		$	225,285		$	223,654
Add (subtract) adjustments to arrive to net income:
Fee income		4,448			4,175			14,004			7,592
Depreciation and amortization expense		(68,636	)		(67,287	)		(131,628	)		(142,099	)
General and administrative expenses		(16,573	)		(12,139	)		(30,154	)		(26,100	)
Transaction related costs		(502	)		(508	)		(777	)		(1,443	)
NOI from unconsolidated joint ventures		(4,958	)		(4,536	)		(9,781	)		(8,964	)
Income from unconsolidated joint ventures		16,535			2,003			18,472			3,499
Loss from unconsolidated real estate funds		(2,411	)		(960	)		(2,123	)		(1,286	)
Interest and other income, net		2,486			1,030			5,686			2,730
Interest and debt expense		(34,817	)		(38,009	)		(71,835	)		(75,128	)
Debt breakage costs		(5,162	)		-			(7,877	)		-
Gain on sale of real estate		133,989			-			133,989			-
Unrealized gain on interest rate swaps		-			10,073			1,802			16,933
Net income (loss) before income taxes		139,152			6,512			145,063			(612	)
Income tax (expense) benefit		(970	)		1,398			(5,252	)		1,035
Net income		138,182			7,910			139,811			423
Less: net (income) loss attributable to noncontrolling interests in:
Consolidated joint ventures		(1,897	)		(4,107	)		(3,188	)		(5,359	)
Consolidated real estate fund		(20,169	)		78			(20,081	)		752
Operating Partnership		(13,100	)		(693	)		(13,154	)		878
Net income (loss) attributable to common stockholders	$	103,016		$	3,188		$	103,388		$	(3,306	)

The following table provides the selected balance sheet data for each of our reportable segments as of June 30, 2017.

(Amounts in thousands)	As of June 30, 2017
Balance Sheet Data:	Total		New York		Washington, D.C.		San Francisco		Other
Total assets	$	8,517,503	$	5,545,701	$	706,534	$	1,918,142	$	347,126
Total liabilities		3,631,592		2,444,141		26,877		1,041,494		119,080
Total equity		4,885,911		3,101,560		679,657		876,648		228,046