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Segment Information
 3 Months Ended
Mar. 31, 2020
Segment Reporting [Abstract]  
Segment Information
Segment Information
We operate in two reportable segments, New York and Other, which is based on how we manage our business.
Net operating income ("NOI") at share represents total revenues less operating expenses including our share of partially owned entities. NOI at share - cash basis represents NOI at share adjusted to exclude straight-line rental income and expense, amortization of acquired below and above market leases, net and other non-cash adjustments. We consider NOI at share - cash basis to be the primary non-GAAP financial measure for making decisions and assessing the unlevered performance of our segments as it relates to the total return on assets as opposed to the levered return on equity. As properties are bought and sold based on NOI at share - cash basis, we utilize this measure to make investment decisions as well as to compare the performance of our assets to that of our peers. NOI at share and NOI at share - cash basis should not be considered alternatives to net income or cash flow from operations and may not be comparable to similarly titled measures employed by other companies.








21.
Segment Information - continued
Below is a reconciliation of net (loss) income to NOI at share and NOI at share - cash basis for the three months ended March 31, 2020 and 2019.
(Amounts in thousands)
For the Three Months Ended
March 31,
 
2020
 
2019
Net (loss) income
$
(104,503
)
 
$
213,044

Depreciation and amortization expense
92,793

 
116,709

General and administrative expense
52,834

 
58,020

Transaction related costs and other
71

 
149

Income from partially owned entities
(19,103
)
 
(7,320
)
Loss from real estate fund investments
183,463

 
167

Interest and other investment loss (income), net
5,904

 
(5,045
)
Interest and debt expense
58,842

 
102,463

Net gains on disposition of wholly owned and partially owned assets
(68,589
)
 
(220,294
)
Income tax expense
12,813

 
29,743

Loss from discontinued operations
—

 
137

NOI from partially owned entities
81,881

 
67,402

NOI attributable to noncontrolling interests in consolidated subsidiaries
(15,493
)
 
(17,403
)
NOI at share
280,913

 
337,772

Non cash adjustments for straight-line rents, amortization of acquired below-market leases, net and other
3,076

 
(5,181
)
NOI at share - cash basis
$
283,989

 
$
332,591


Below is a summary of NOI at share, NOI at share - cash basis by segment for the three months ended March 31, 2020 and 2019.
(Amounts in thousands)
For the Three Months Ended March 31, 2020
 
Total
 
New York
 
Other
Total revenues
$
444,532

 
$
355,615

 
$
88,917

Operating expenses
(230,007
)
 
(183,031
)
 
(46,976
)
NOI - consolidated
214,525

 
172,584

 
41,941

Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries
(15,493
)
 
(8,433
)
 
(7,060
)
Add: NOI from partially owned entities
81,881

 
78,408

 
3,473

NOI at share
280,913

 
242,559

 
38,354

Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other
3,076

 
1,106

 
1,970

NOI at share - cash basis
$
283,989

 
$
243,665

 
$
40,324

(Amounts in thousands)
For the Three Months Ended March 31, 2019
 
Total
 
New York
 
Other
Total revenues
$
534,668

 
$
443,285

 
$
91,383

Operating expenses
(246,895
)
 
(198,095
)
 
(48,800
)
NOI - consolidated
287,773

 
245,190

 
42,583

Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries
(17,403
)
 
(11,407
)
 
(5,996
)
Add: NOI from partially owned entities
67,402

 
49,575

 
17,827

NOI at share
337,772

 
283,358

 
54,414

Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other
(5,181
)
 
(6,618
)
 
1,437

NOI at share - cash basis
$
332,591

 
$
276,740

 
$
55,851