Company: HPP
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001482512-25-000126
Chunk: 98

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 98
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 expense is not allocated among segments. Segment assets consist of investment in real estate, non-real estate property, plant and equipment, net, accounts receivable, net, straight-line rents receivables, net, deferred leasing costs and intangible assets, net, operating lease ROU assets and goodwill. Non-segment assets consist of assets in the Company’s corporate non-segment assets, including cash and cash equivalents, restricted cash, prepaid expenses and other assets, net, investment in unconsolidated real estate entities and assets associated with real estate held for sale. Reportable segment asset information is not provided to the CODM as the CODM do not use segment asset information to evaluate the business and allocate resources.

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Table of ContentsHudson Pacific Properties, Inc. and Hudson Pacific Properties, L.P.Notes to Unaudited Consolidated Financial Statements(Unaudited, tabular amounts in thousands, except square footage, share and unit data)

The table below presents the operating activity of the Company’s reportable segments:Three Months Ended June 30,Six Months Ended June 30,2025202420252024Office segmentCore office revenues$152,696 $173,063 $314,865 $345,030 Core office expensesUtilities(5,973)(6,085)(12,038)(12,156)Taxes(16,244)(18,261)(33,217)(36,836)Administrative(7,310)(7,293)(14,900)(14,560)Insurance(5,548)(6,804)(12,212)(13,230)Other segment expenses(1)(33,289)(33,885)(65,232)(65,385)Total core office expenses(68,364)(72,328)(137,599)(142,167)Office net operating income84,332 100,735 177,266 202,863 Studio segmentStudio revenues34,169 41,961 67,417 80,909 Studio expensesRent expense & real estate taxes(8,699)(8,189)(22,460)(16,558)Cost of goods sold(5,101)(7,661)(9,905)(15,423)Other segment expenses(2)(22,752)(22,102)(45,168)(43,080)Total studio expenses(36,552)(37,952)(77,533)(75,061)Studio net operating income(2,383)4,009