Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2011

Fair Value Measurement of Financial Instruments [Abstract]

The following table sets forth the carrying and estimated fair value for each of Piedmont’s financial instruments as of December 31, 2011 and 2010, respectively (in thousands):



	As of December 31, 2011				As of December 31, 2010
Financial Instrument	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Cash and cash equivalents⁽¹⁾	$	139,690	$	139,690	$	56,718	$	56,718
Tenant receivables, net⁽¹⁾	$	129,523	$	129,523	$	134,006	$	134,006
Accounts payable⁽¹⁾	$	14,637	$	14,637	$	15,763	$	15,763
Interest rate swap agreements	$	2,537	$	2,537	$	691	$	691
Interest rate cap agreements	$	—	$	—	N/A		N/A
Line of credit and notes payable	$	1,472,525	$	1,529,811	$	1,402,525	$	1,428,255


⁽¹⁾	For the periods presented, the carrying value approximates estimated fair value.

- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

+ References

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+ Details