Revenue Recognition

9 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue Recognition

The following is a summary of revenue sources for the three and nine months ended September 30, 2022 and 2021.

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
(Amounts in thousands)	2022		2021		2022		2021
Lease revenues	$	51,921	$	46,535	$	146,440	$	149,850
Parking revenue	1,189		1,207		3,582		3,215
Tenant services	619		1,208		2,746		3,426
Rental revenues	$	53,729	$	48,950	$	152,768	$	156,491

4.Revenue Recognition - continued

The components of lease revenues for the three and nine months ended September 30, 2022 and 2021 are as follows:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
(Amounts in thousands)	2022		2021		2022		2021
Fixed lease revenues	$	35,847	$	31,072	$	101,468	$	97,115
Variable lease revenues	16,074		15,463		44,972		52,735
Lease revenues	$	51,921	$	46,535	$	146,440	$	149,850

Bloomberg L.P. (“Bloomberg”) accounted for revenue of $81,536,000 and $85,057,000 for the nine months ended September 30, 2022 and 2021, respectively, representing approximately 53% and 54% of our total revenues in each period, respectively. No other tenant accounted for more than 10% of our total revenues. If we were to lose Bloomberg as a tenant, or if Bloomberg were to be unable to fulfill its obligations under its lease, it would adversely affect our results of operations and financial condition. In order to assist us in our continuing assessment of Bloomberg’s creditworthiness, we receive certain confidential financial information and metrics from Bloomberg. In addition, we access and evaluate financial information regarding Bloomberg from other private sources, as well as publicly available data.