22.

Segments

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 nine months ended September 30, 2017 and 2016.

	For the Three Months Ended September 30, 2017
(Amounts in thousands)	Total			New York			Washington, D.C.			San Francisco			Other
Property-related revenues	$	173,936		$	109,493		$	14,986		$	49,758		$	(301	)
Property-related operating expenses		(68,264	)		(46,609	)		(5,887	)		(14,164	)		(1,604	)
NOI from unconsolidated joint ventures		4,993			4,815			-			-			178
NOI⁽¹⁾	$	110,665		$	67,699		$	9,099		$	35,594		$	(1,727	)

	For the Three Months Ended September 30, 2016
(Amounts in thousands)	Total			New York			Washington, D.C.			San Francisco			Other
Property-related revenues	$	167,342		$	113,029		$	22,229		$	31,441		$	643
Property-related operating expenses		(64,025	)		(45,748	)		(8,322	)		(7,994	)		(1,961	)
NOI from unconsolidated joint ventures		3,974			3,893			-			-			81
NOI⁽¹⁾	$	107,291		$	71,174		$	13,907		$	23,447		$	(1,237	)

	For the Nine Months Ended September 30, 2017
(Amounts in thousands)	Total			New York			Washington, D.C.			San Francisco			Other
Property-related revenues	$	518,872		$	321,419		$	56,911		$	139,898		$	644
Property-related operating expenses		(197,696	)		(134,657	)		(21,376	)		(35,889	)		(5,774	)
NOI from unconsolidated joint ventures		14,774			14,406			-			-			368
NOI⁽¹⁾	$	335,950		$	201,168		$	35,535		$	104,009		$	(4,762	)

	For the Nine Months Ended September 30, 2016
(Amounts in thousands)	Total			New York			Washington, D.C.			San Francisco			Other
Property-related revenues	$	504,971		$	346,683		$	63,689		$	92,762		$	1,837
Property-related operating expenses		(186,964	)		(132,428	)		(24,691	)		(22,426	)		(7,419	)
NOI from unconsolidated joint ventures		12,938			12,696			-			-			242
NOI⁽¹⁾	$	330,945		$	226,951		$	38,998		$	70,336		$	(5,340	)

⁽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 (loss) income attributable to common stockholders for the three and nine months ended September 30, 2017 and 2016.

	For the Three Months Ended						For the Nine Months Ended
	September 30,						September 30,
(Amounts in thousands)	2017			2016			2017			2016
NOI	$	110,665		$	107,291		$	335,950		$	330,945
Add (subtract) adjustments to arrive to net (loss) income:
Fee income		5,834			3,976			19,838			11,568
Depreciation and amortization expense		(66,515	)		(66,376	)		(198,143	)		(208,475	)
General and administrative expenses		(14,470	)		(13,235	)		(44,624	)		(39,335	)
Transaction related costs		(274	)		(282	)		(1,051	)		(1,725	)
NOI from unconsolidated joint ventures		(4,993	)		(3,974	)		(14,774	)		(12,938	)
Income from unconsolidated joint ventures		671			1,792			19,143			5,291
Loss from unconsolidated real estate funds		(3,930	)		(1,254	)		(6,053	)		(2,540	)
Interest and other (loss) income, net		(17,668	)		2,299			(11,982	)		5,029
Interest and debt expense		(35,733	)		(38,278	)		(107,568	)		(113,406	)
Loss on early extinguishment of debt		-			-			(7,877	)		-
Gain on sale of real estate		-			-			133,989			-
Unrealized gain on interest rate swaps		-			12,728			1,802			29,661
Net (loss) income before income taxes		(26,413	)		4,687			118,650			4,075
Income tax benefit (expense)		1,010			(218	)		(4,242	)		817
Net (loss) income		(25,403	)		4,469			114,408			4,892
Less: net (income) loss attributable to noncontrolling interests in:
Consolidated joint ventures		14,217			(4,703	)		11,029			(10,062	)
Consolidated real estate fund		(114	)		67			(20,195	)		819
Operating Partnership		1,086			28			(12,068	)		906
Net (loss) income attributable to common stockholders	$	(10,214	)	$	(139	)	$	93,174		$	(3,445	)

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

(Amounts in thousands)	As of September 30, 2017
Balance Sheet Data:	Total		New York		Washington, D.C.		San Francisco		Other
Total assets	$	8,924,008	$	5,557,850	$	701,624	$	2,438,720	$	225,814
Total liabilities		3,881,852		2,445,559		26,829		1,289,218		120,246
Total equity		5,042,156		3,112,291		674,795		1,149,502		105,568