Segments

12 Months Ended

Dec. 31, 2019

24.

Segments

Our reportable segments are separated by region based on the three regions in which we conduct our business: New York, San Francisco and Washington, D.C. 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 Net Operating Income (“NOI”) for each reportable segment for the periods set forth below.

	For the Year Ended December 31, 2019
(Amounts in thousands)	Total			New York			San Francisco			Washington, D.C.			Other
Property-related revenues	$	746,436		$	482,648		$	238,808		$	25,426		$	(446	)
Property-related operating expenses		(274,836	)		(191,211	)		(69,815	)		(10,134	)		(3,676	)
NOI from unconsolidated joint ventures		22,409			13,151			9,065			-			193
NOI⁽¹⁾	$	494,009		$	304,588		$	178,058		$	15,292		$	(3,929	)

	For the Year Ended December 31, 2018
(Amounts in thousands)	Total			New York			San Francisco			Washington, D.C.			Other
Property-related revenues	$	740,332		$	468,013		$	222,071		$	51,290		$	(1,042	)
Property-related operating expenses		(274,078	)		(188,008	)		(60,043	)		(19,381	)		(6,646	)
NOI from unconsolidated joint ventures		20,730			20,395			-			-			335
NOI⁽¹⁾	$	486,984		$	300,400		$	162,028		$	31,909		$	(7,353	)

	For the Year Ended December 31, 2017
(Amounts in thousands)	Total			New York			San Francisco			Washington, D.C.			Other
Property-related revenues	$	694,755		$	430,548		$	191,677		$	72,143		$	387
Property-related operating expenses		(266,136	)		(180,855	)		(50,906	)		(27,342	)		(7,033	)
NOI from unconsolidated joint ventures		19,643			19,143			-			-			500
NOI⁽¹⁾	$	448,262		$	268,836		$	140,771		$	44,801		$	(6,146	)

⁽¹⁾

^{NOI is used to measure the operating performance of our properties. NOI consists of property-related revenue (which includes rental income, tenant reimbursement income, lease termination 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 periods set forth below.

	For the Year Ended December 31,
(Amounts in thousands)	2019			2018			2017
NOI	$	494,009		$	486,984		$	448,262
Add (subtract) adjustments to arrive to net (loss) income:
Fee income		22,744			18,629			24,212
Depreciation and amortization expense		(248,347	)		(258,225	)		(266,037	)
General and administrative expenses		(68,556	)		(57,563	)		(61,577	)
NOI from unconsolidated joint ventures		(22,409	)		(20,730	)		(19,643	)
Interest and other income (loss), net		9,844			8,117			(9,031	)
Interest and debt expense		(156,679	)		(147,653	)		(143,762	)
Loss on early extinguishment of debt		(11,989	)		-			(7,877	)
Real estate impairment loss		(42,000	)		(46,000	)		-
Gain on sale of real estate		1,140			36,845			133,989
Other, net		(7,048	)		1,728			13,817
Net (loss) income before income taxes		(29,291	)		22,132			112,353
Income tax expense		(312	)		(3,139	)		(5,177	)
Net (loss) income		(29,603	)		18,993			107,176
Less: net (income) loss attributable to noncontrolling interests in:
Consolidated joint ventures		(11,022	)		(8,182	)		10,365
Consolidated real estate fund		(313	)		(720	)		(19,797	)
Operating Partnership		4,039			(944	)		(11,363	)
Net (loss) income attributable to common stockholders	$	(36,899	)	$	9,147		$	86,381

The following table provides the total assets for each of our reportable segments as of the dates set forth below.

(Amounts in thousands)
Total Assets as of:	Total		New York		San Francisco		Washington, D.C.		Other
December 31, 2019	$	8,734,135	$	5,439,929	$	2,708,463	$	107,121	$	478,622
December 31, 2018		8,755,978		5,583,022		2,388,094		305,980		478,882
December 31, 2017		8,917,661		5,511,061		2,421,173		693,408		292,019