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Consolidated Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Revenues:      
Rental income $ 419,141 $ 408,375 $ 409,905
Tenant reimbursements 115,879 114,795 126,872
Property management fee revenue 1,584 3,212 3,111
Other rental income 5,038 6,658 2,764
Total revenues 541,642 533,040 542,652
Expenses:      
Property operating costs 208,711 196,875 207,018
Depreciation 104,818 97,275 97,467
Amortization 54,903 38,021 46,359
Impairment losses on real estate assets 0 0 [1] 35,063
General and administrative 24,838 28,388 26,656
Operating Expenses 393,270 360,559 412,563
Real estate operating income 148,372 172,481 130,089
Other income (expense):      
Interest expense (65,817) (66,486) (71,464)
Interest and other income 2,774 3,486 4,407
Equity in income of unconsolidated joint ventures 1,619 2,633 104
Gain on consolidation of variable interest entity 1,532 0 0
Gain on extinguishment of debt 1,039 0 0
Nonoperating Income (Expense) (58,853) (60,367) (66,953)
Income from continuing operations 89,519 112,114 63,136
Discontinued operations:      
Operating income, excluding impairment loss 12,880 18,684 11,579
Impairment loss 0 (9,587) 0
Gain/(loss) on sale of real estate assets 122,657 (817) 0
Income from discontinued operations 135,537 8,280 11,579
Net income 225,056 120,394 74,715
Less: Net income attributable to noncontrolling interest (15) (15) (15)
Net income attributable to Piedmont $ 225,041 $ 120,379 $ 74,700
Per share information – basic:      
Income from continuing operations $ 0.52 $ 0.66 $ 0.40
Income from discontinued operations $ 0.78 $ 0.05 $ 0.07
Income attributable to noncontrolling interest $ 0.00 $ 0.00 $ 0.00
Net income available to common stockholders $ 1.30 $ 0.71 $ 0.47
Per share information – diluted:      
Income from continuing operations $ 0.52 $ 0.65 $ 0.40
Income from discontinued operations $ 0.78 $ 0.05 $ 0.07
Income attributable to noncontrolling interest $ 0.00 $ 0.00 $ 0.00
Net income available to common stockholders $ 1.30 $ 0.70 $ 0.47
Weighted-average common shares outstanding - basic (in shares) 172,764,838 170,752,520 158,419,262
Weighted-average common shares outstanding - diluted (in shares) 172,980,947 170,967,324 158,580,990
[1] During the year ended December 31, 2010, Piedmont recorded an impairment charge of approximately $9.6 million on the 111 Sylvan Avenue building as a component of discontinued operations. See Note 17 below for further detail.