Hudson Pacific Properties, Inc. (HPP) Financial Statements (2024 and earlier)

Company Profile

Business Address 11601 WILSHIRE BLVD.
LOS ANGELES, CA 90025
State of Incorp. MD
Fiscal Year End December 31
Industry (SIC) 65 - Real Estate (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments109,220163,327255,761161,667266,538137,598
Cash and cash equivalents109,220163,327255,761161,667266,538137,598
Inventory, net of allowances, customer advances and progress billings5,6895,1374,9144,7951,9811,755
Inventory5,6895,1374,9144,7951,9811,755
Prepaid expense21,7371,8738,57114,38316,8301,383
Total current assets:136,646170,337269,246180,845285,349140,736
Noncurrent Assets
Operating lease, right-of-use asset393,911399,063401,051399,570299,673308,409
Property, plant and equipment119,526124,465130,289128,50460,22259,894
Long-term investments and receivables218,422194,163180,572154,144161,845160,821
Long-term investments218,422194,163180,572154,144161,845160,821
Intangible assets, net (including goodwill)635,074645,722657,391666,573445,912435,080
Goodwill263,549263,549263,549261,139109,473109,439
Intangible assets, net (excluding goodwill)371,525382,173393,842405,434336,439325,641
Total noncurrent assets:1,366,9331,363,4131,369,3031,348,791967,652964,204
Other undisclosed assets7,602,2507,590,3417,680,5917,790,7837,797,6377,899,468
TOTAL ASSETS:9,105,8299,124,0919,319,1409,320,4199,050,6389,004,408
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Liabilities, other than long-term debt30,79832,44334,09135,75837,48539,472
Off-market lease, unfavorable30,79832,44334,09135,75837,48539,472
Total noncurrent liabilities:30,79832,44334,09135,75837,48539,472
Other undisclosed liabilities5,300,7285,262,0495,400,3595,356,9335,028,1894,883,973
Total liabilities:5,331,5265,294,4925,434,4505,392,6915,065,6744,923,445
Temporary equity, carrying amount128,951130,717134,859135,398136,235137,499
Equity
Equity, attributable to parent, including:3,216,6743,253,3173,305,1043,344,7903,405,0303,489,269
Preferred stock 425,000425,000425,000425,000425,000425,000
Common stock1,4031,4031,4091,4081,4151,445
Additional paid in capital2,783,8582,835,0612,889,9672,935,4482,985,6663,063,500
Accumulated other comprehensive income (loss)6,413(8,147)(11,272)(17,066)(7,051)(676)
Other undisclosed equity, attributable to parent      
Other undisclosed equity428,678445,565444,727447,540443,699454,195
Total equity:3,645,3523,698,8823,749,8313,792,3303,848,7293,943,464
TOTAL LIABILITIES AND EQUITY:9,105,8299,124,0919,319,1409,320,4199,050,6389,004,408

Income Statement (P&L) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues245,168252,263269,927260,354251,430244,513
Other undisclosed gross profit(111,446)(111,298)(116,932)(105,028)(99,244)(92,614)
Gross profit:133,722140,965152,995155,326152,186151,899
Operating expenses(229,322)(227,161)(230,773)(217,893)(212,553)(205,319)
Operating loss:(95,600)(86,196)(77,778)(62,567)(60,367)(53,420)
Nonoperating expense(41,018)(39,919)(44,810)(49,253)(35,331)(46,809)
Interest and debt expense10,000(53,807)(48,085)(37,261)(33,719)(30,836)
Loss from continuing operations before equity method investments, income taxes:(126,618)(179,922)(170,673)(149,081)(129,417)(131,065)
Income (loss) from equity method investments    (352)1,780303
Other undisclosed income from continuing operations before income taxes101,446     
Loss from continuing operations before income taxes:(25,172)(179,922)(170,673)(149,433)(127,637)(130,762)
Income tax expense (benefit)(6,302)     
Loss from continuing operations:(31,474)(179,922)(170,673)(149,433)(127,637)(130,762)
Loss before gain (loss) on sale of properties:(149,433)(127,637)(130,762)
Other undisclosed net income  165,105165,017142,641131,183123,147
Net income (loss) attributable to parent:(31,474)(14,817)(5,656)(6,792)3,546(7,615)
Undistributed earnings (loss) allocated to participating securities, basic (297)(553)(300)(300)(300)(294)
Other undisclosed net loss available to common stockholders, basic(4,392)(5,055)(6,028)(10,194)(10,682)(11,884)
Net loss available to common stockholders, diluted:(36,163)(20,425)(11,984)(17,286)(7,436)(19,793)

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income (loss):(31,474)(14,817)(5,656)(6,792)3,546(7,615)
Other comprehensive income (loss)15,1103,4495,921(10,194)(6,488)1,104
Comprehensive income (loss):(16,364)(11,368)265(16,986)(2,942)(6,511)
Other undisclosed comprehensive loss, net of tax, attributable to parent(5,239)(5,932)(6,455)(10,315)(10,869)(12,197)
Comprehensive loss, net of tax, attributable to parent:(21,603)(17,300)(6,190)(27,301)(13,811)(18,708)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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