Segment Information (Tables)

3 Months Ended

Mar. 31, 2024

Below is a summary of NOI at share and NOI at share - cash basis by segment for the three months ended March 31, 2024 and 2023.


(Amounts in thousands)	For the Three Months Ended March 31, 2024
	Total		New York		Other
Total revenues	$	436,375	$	358,234	$	78,141
Operating expenses	(226,224)		(188,278)		(37,946)
NOI - consolidated	210,151		169,956		40,195
Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries	(11,396)		(4,536)		(6,860)
Add: NOI from partially owned entities	70,369		67,709		2,660
NOI at share	269,124		233,129		35,995
Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other	(1,511)		(2,335)		824
NOI at share - cash basis	$	267,613	$	230,794	$	36,819


(Amounts in thousands)	For the Three Months Ended March 31, 2023
	Total		New York		Other
Total revenues	$	445,923	$	363,814	$	82,109
Operating expenses	(228,773)		(188,321)		(40,452)
NOI - consolidated	217,150		175,493		41,657
Deduct: NOI attributable to noncontrolling interests in consolidated subsidiaries	(11,764)		(4,823)		(6,941)
Add: NOI from partially owned entities	68,097		65,324		2,773
NOI at share	273,483		235,994		37,489
Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other	5,052		5,033		19
NOI at share - cash basis	$	278,535	$	241,027	$	37,508

17. 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, 2024 and 2023.


(Amounts in thousands)	For the Three Months Ended March 31,
	2024		2023
Net (loss) income	$	(6,273)	$	11,198
Depreciation and amortization expense	108,659		106,565
General and administrative expense	37,897		41,595
Transaction related costs and other	653		658
Income from partially owned entities	(16,279)		(16,666)

Interest and other investment income, net	(11,724)		(9,584)
Interest and debt expense	90,478		86,237


Net gains on disposition of wholly owned and partially owned assets	—		(7,520)
Income tax expense	6,740		4,667

NOI from partially owned entities	70,369		68,097
NOI attributable to noncontrolling interests in consolidated subsidiaries	(11,396)		(11,764)
NOI at share	269,124		273,483
Non-cash adjustments for straight-line rents, amortization of acquired below-market leases, net, and other	(1,511)		5,052
NOI at share - cash basis	$	267,613	$	278,535