Company: SLG-PI
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001628280-25-047886
Chunk: 116

Company: SL GREEN REALTY CORP
Filing Date: 2025-11-03
Form: 10-Q
Item: Item 1
Chunk 116
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 and inform key decisions regarding operations, resources and capital allocation.In 2024, our CODM revised the approach for reviewing results of the operating and reportable segments to be more specific to the respective businesses of each. Previously, the same profit or loss measure was utilized across all segments. With the continued growth and diversification of the Company's revenue sources, we determined that this approach needed to evolve accordingly. As a result, our CODM now evaluates real estate performance and allocates resources based on net operating income ("NOI"), which serves as the profit or loss measure for the real estate operating segment. For our debt and preferred equity investments and SUMMIT operating segment performance, our CODM evaluates and allocates resources based on net income. The CODM does not review asset information, by segment, as a measure to assess performance.

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Table of ContentsSL Green Realty Corp. and SL Green Operating Partnership, L.P.Notes to Consolidated Financial Statements (cont.)September 30, 2025(unaudited)

The reportable segment profit or loss measures for the nine months ended September 30, 2025 and 2024 are as follows (in thousands):September 30, 2025Real Estate SegmentSUMMIT SegmentDPE SegmentTotalTotal revenues$565,478 $86,424 $74,677 $726,579 Expenses:SUMMIT Operator expenses— 82,570 — SUMMIT Operator tax expense— 2,781 — Operating Expenses164,840 — — Real Estate Taxes112,594 — — Operating lease rent18,317 — — Net operating income from unconsolidated joint ventures$204,823 Real Estate segment Net operating income$474,550 $474,550 Equity in net income from unconsolidated joint ventures— 13,940 Income from debt fund investments, net— 1,776 Loan loss and other investment reserves, net of recoveries— 71,326 Depreciation and amortization(2,737)— Interest expense, net of interest income— (19,312)Interest expense on senior obligations of consolidated securitization vehicles— (45,827)SUMMIT Net income (loss) and DPE Net income (loss)$(1,664)$96,580 $94,916 Non-operating net loss from unconsolidated joint ventures(247,875)Marketing, general and administrative expense