Company: HPP
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001482512-25-000043
Chunk: 86

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 86
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 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 March 31,20252024Office segmentCore office revenues$162,168 $171,967 Core office expensesUtilities(6,065)(6,071)Taxes(16,973)(18,575)Administrative(7,590)(7,267)Insurance(6,664)(6,426)Other segment expenses(1)(31,942)(31,500)Total core office expenses(69,234)(69,839)Office net operating income92,934 102,128 Studio segmentStudio revenues33,248 38,948 Studio expensesRent expense & real estate taxes(13,761)(8,369)Cost of goods sold(4,804)(7,762)Other segment expenses(2)(22,416)(20,978)Total studio expenses(40,981)(37,109)Studio net operating income(7,733)1,839 TOTAL SEGMENT PROFIT$85,201 $103,967 _________________1.Includes ground lease rent, cleaning, parking, engineering, security, mechanical, electrical & plumbing and repairs & maintenance expenses.2.Includes administrative, utilities, security, cleaning, engineering and repairs & maintenance expenses.The table below presents the reconciliation of segment revenue to consolidated revenue:Three Months Ended March 31,20252024Office segmentCore office revenues$162,168 $171,967 Chargebacks3,043 3,108 Total office revenues165,211 175,075 Studio segmentTotal studio revenues33,248 38,948 Total revenues$198,459 $214,023 

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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