Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2013

Piedmont’s real estate assets are depreciated or amortized using the straight-line method over the following useful lives:



Buildings	40 years
Building improvements	5-25 years
Land improvements	20-25 years
Tenant improvements	Shorter of economic life or lease term
Furniture, fixtures, and equipment	3-5 years
Intangible lease assets	Lease term

Schedule of Finite-Lived Intangible Assets by Major Class

Gross intangible assets and liabilities recorded at acquisition as of December 31, 2013 and 2012, respectively, are as follows (in thousands):



	December 31, 2013		December 31, 2012
Intangible Lease Assets:
Above-Market In-Place Lease Assets	$	21,137	$	21,468
Absorption Period Costs	$	125,060	$	101,217
Intangible Lease Origination Costs (included in Deferred Lease Costs)	$	158,427	$	116,995
Intangible Lease Liabilities (Below-Market In-Place Leases)	$	91,369	$	81,736

Amortization Of Intangible Lease Costs

For the years ended December 31, 2013, 2012, and 2011, respectively, Piedmont recognized amortization of intangible lease costs as follows (in thousands):



	2013		2012		2011
Amortization expense related to Intangible Lease Origination Costs and Absorption Period Costs	$	30,409	$	36,151	$	48,013
Amortization of Above-Market and Below-Market In-Place Lease intangibles as a net increase to rental revenues	$	5,278	$	5,678	$	7,065

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Net intangible assets and liabilities as of December 31, 2013 will be amortized as follows (in thousands):



	Intangible Lease Assets
	Above-Market In-place Lease Assets		Absorption Period Costs		Intangible Lease Origination Costs⁽¹⁾		Below-Market In-place Lease Liabilities
For the year ending December 31:
2014	$	2,050	$	15,046	$	18,882	$	6,825
2015	1,891		13,789		17,490		6,328
2016	1,662		10,996		14,652		6,205
2017	886		8,241		11,671		6,300
2018	309		5,687		8,726		5,702
Thereafter	131		13,689		21,449		15,753
	$	6,929	$	67,448	$	92,870	$	47,113

Weighted-Average Amortization Period (in years)	4		6		6		8


⁽¹⁾	Included as a component of Deferred Lease Costs in the accompanying consolidated balance sheets.