Company: HPP
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001482512-25-000126
Chunk: 69

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 69
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 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)

Revenue from Contracts with CustomersThe following table summarizes the Company’s revenue streams that are accounted for under ASC 606 for the three and six months ended June 30, 2025 and 2024:Three Months Ended June 30,Six Months Ended June 30,2025202420252024Ancillary revenues$19,016 $26,187 $37,572 $50,387 Other revenues$5,928 $4,257 $13,282 $8,611 Studio-related tenant recoveries$636 $519 $1,140 $961 Management fee income$1,476 $1,371 $2,835 $2,496 Management services reimbursement income$1,123 $1,042 $2,098 $2,198 The following table summarizes the Company’s receivables that are accounted for under ASC 606 as of:June 30, 2025December 31, 2024Ancillary revenues$3,935 $4,834 Other revenues$930 $1,107 GoodwillAs of June 30, 2025 and December 31, 2024, the carrying value of goodwill was $156.5 million. Goodwill was not impaired during the six months ended June 30, 2025 and 2024.

Recently Issued Accounting PronouncementsIn December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which includes amendments that further enhance income tax disclosures, primarily through standardization and disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. The amendments are effective for the Company’s annual periods beginning after December 15, 2024, with early adoption permitted, and should be applied either prospectively or retrospectively. The Company is currently evaluating this guidance and the impact it may have on the Company’s consolidated financial statements.In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The amendments will require public entities to disclose additional information about specific expense categories in