Company: HPP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001482512-25-000150
Chunk: 98

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 98
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 presents the operating activity of the Company’s reportable segments:Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Office segmentCore office revenues$150,623 $162,881 $465,488 $507,911 Core office expensesUtilities(9,007)(9,175)(21,045)(21,331)Taxes(16,411)(18,866)(49,628)(55,702)Administrative(7,223)(7,491)(22,123)(22,051)Insurance(5,415)(6,802)(17,627)(20,032)Other segment expenses(1)(29,565)(33,107)(94,797)(98,492)Total core office expenses(67,621)(75,441)(205,220)(217,608)Office net operating income83,002 87,440 260,268 290,303 Studio segmentStudio revenues32,038 33,451 99,455 114,360 Studio expensesRent expense & real estate taxes(8,096)(8,376)(30,556)(24,934)Cost of goods sold(3,865)(4,188)(13,770)(19,611)Other segment expenses(2)(20,421)(22,775)(65,589)(65,855)Total studio expenses(32,382)(35,339)(109,915)(110,400)Studio net operating income(344)(1,888)(10,460)3,960 TOTAL SEGMENT PROFIT$82,658 $85,552 $249,808 $294,263 _________________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 September 30,Nine Months Ended September 30,2025202420252024Office segmentCore office revenues$150,623 $162,881 $465,488 $507,911 Chargebacks3,956 4,061 10,135 10,145 Total office revenues154,579 166,942 475,623 518,056 Studio segmentTotal studio revenues32,038 33,451 99,455 114,360 Total revenues