XML 56 R65.htm IDEA: XBRL DOCUMENT v2.4.0.8
Guarantor and Non-Guarantor Financial Information- Condensed Consolidated Balance Sheets (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Assets:        
Land $ 688,761 $ 629,536    
Buildings and improvements, less accumulated depreciation 3,164,575 2,908,078    
Intangible lease assets, less accumulated amortization 74,377 54,745    
Construction in progress 24,270 20,373    
Total real estate assets 3,951,983 3,612,732    
Investments in and amounts due from unconsolidated joint ventures 14,388 37,689    
Cash and cash equivalents 6,973 12,957 139,690 56,718
Tenant and straight-line receivables, net 170,551 147,337    
Advances to affiliates 0 0    
Investment in subsidiary 0 0    
Notes receivable 0 0    
Prepaid expenses, restricted cash, escrows, and other assets 25,165 21,617    
Goodwill 180,097 180,097    
Interest rate swaps 24,176 1,075    
Deferred financing costs, net 8,759 6,454    
Deferred lease costs, net 283,996 234,917    
Total assets 4,666,088 4,254,875    
Liabilities:        
Debt 2,002,205 [1] 1,416,525 [1]    
Accounts payable, accrued expenses, and accrued capital expenditures 128,818 127,263    
Advances from affiliates 0 0    
Deferred income 22,267 21,552    
Intangible lease liabilities, net 47,113 40,805    
Interest rate swaps 4,526 8,235    
Total liabilities 2,204,929 1,614,380    
Stockholders’ Equity:        
Common stock 1,575 1,676    
Additional paid-in capital 3,668,906 3,667,051    
Cumulative distributions in excess of earnings (1,231,209) (1,022,681)    
Other comprehensive income/(loss) 20,278 (7,160)    
Piedmont stockholders’ equity 2,459,550 2,638,886    
Noncontrolling interest 1,609 1,609    
Total stockholders’ equity 2,461,159 2,640,495 2,773,428 2,773,454
Total liabilities and stockholders’ equity 4,666,088 4,254,875    
Issuer [Member]
       
Assets:        
Land 88,054 93,967    
Buildings and improvements, less accumulated depreciation 477,712 528,548    
Intangible lease assets, less accumulated amortization 2,356 3,266    
Construction in progress 4,627 1,056    
Total real estate assets 572,749 626,837    
Investments in and amounts due from unconsolidated joint ventures 14,388 37,689    
Cash and cash equivalents 3,352 62,371 166,920 61,516
Tenant and straight-line receivables, net 36,142 34,288    
Advances to affiliates 5,312,384 4,623,173    
Investment in subsidiary 0 0    
Notes receivable 160,000 160,000    
Prepaid expenses, restricted cash, escrows, and other assets 5,319 5,149    
Goodwill 180,097 180,097    
Interest rate swaps 24,176 1,075    
Deferred financing costs, net 7,764 4,292    
Deferred lease costs, net 34,413 30,426    
Total assets 6,350,784 5,765,397    
Liabilities:        
Debt 1,038,570 452,890    
Accounts payable, accrued expenses, and accrued capital expenditures 13,824 20,443    
Advances from affiliates 312,881 274,159    
Deferred income 5,086 5,991    
Intangible lease liabilities, net 0 24    
Interest rate swaps 4,526 8,235    
Total liabilities 1,374,887 761,742    
Stockholders’ Equity:        
Common stock 0 0    
Additional paid-in capital 4,003,806 4,068,844    
Cumulative distributions in excess of earnings 951,813 941,971    
Other comprehensive income/(loss) 20,278 (7,160)    
Piedmont stockholders’ equity 4,975,897 5,003,655    
Noncontrolling interest 0 0    
Total stockholders’ equity 4,975,897 5,003,655    
Total liabilities and stockholders’ equity 6,350,784 5,765,397    
Guarantor [Member]
       
Assets:        
Land 0 0    
Buildings and improvements, less accumulated depreciation 0 0    
Intangible lease assets, less accumulated amortization 0 0    
Construction in progress 0 0    
Total real estate assets 0 0    
Investments in and amounts due from unconsolidated joint ventures 0 0    
Cash and cash equivalents 150 239 139 896
Tenant and straight-line receivables, net 0 0    
Advances to affiliates 1,288,547 1,300,158    
Investment in subsidiary 4,003,806 4,068,844    
Notes receivable 2,000 2,500    
Prepaid expenses, restricted cash, escrows, and other assets 44 14    
Goodwill 0 0    
Interest rate swaps 0 0    
Deferred financing costs, net 0 0    
Deferred lease costs, net 0 0    
Total assets 5,294,547 5,371,755    
Liabilities:        
Debt 0 0    
Accounts payable, accrued expenses, and accrued capital expenditures 2,376 645    
Advances from affiliates 4,863,672 4,636,936    
Deferred income 0 0    
Intangible lease liabilities, net 0 0    
Interest rate swaps 0 0    
Total liabilities 4,866,048 4,637,581    
Stockholders’ Equity:        
Common stock 1,575 1,676    
Additional paid-in capital 3,668,906 3,667,051    
Cumulative distributions in excess of earnings (3,241,982) (2,934,553)    
Other comprehensive income/(loss) 0 0    
Piedmont stockholders’ equity 428,499 734,174    
Noncontrolling interest 0 0    
Total stockholders’ equity 428,499 734,174    
Total liabilities and stockholders’ equity 5,294,547 5,371,755    
Non-Guarantor Subsidiaries [Member]
       
Assets:        
Land 600,707 535,569    
Buildings and improvements, less accumulated depreciation 2,687,163 2,379,530    
Intangible lease assets, less accumulated amortization 72,021 51,479    
Construction in progress 19,643 19,317    
Total real estate assets 3,379,534 2,985,895    
Investments in and amounts due from unconsolidated joint ventures 0 0    
Cash and cash equivalents 3,471 (49,653) (27,369) (5,694)
Tenant and straight-line receivables, net 134,409 113,049    
Advances to affiliates 0 0    
Investment in subsidiary 197 200    
Notes receivable 23,890 23,890    
Prepaid expenses, restricted cash, escrows, and other assets 20,779 17,402    
Goodwill 0 0    
Interest rate swaps 0 0    
Deferred financing costs, net 995 2,162    
Deferred lease costs, net 249,583 204,491    
Total assets 3,812,858 3,297,436    
Liabilities:        
Debt 1,149,525 1,150,025    
Accounts payable, accrued expenses, and accrued capital expenditures 113,595 107,123    
Advances from affiliates 1,467,334 1,044,446    
Deferred income 17,181 15,561    
Intangible lease liabilities, net 47,113 40,781    
Interest rate swaps 0 0    
Total liabilities 2,794,748 2,357,936    
Stockholders’ Equity:        
Common stock 0 0    
Additional paid-in capital 197 200    
Cumulative distributions in excess of earnings 1,016,304 937,691    
Other comprehensive income/(loss) 0 0    
Piedmont stockholders’ equity 1,016,501 937,891    
Noncontrolling interest 1,609 1,609    
Total stockholders’ equity 1,018,110 939,500    
Total liabilities and stockholders’ equity 3,812,858 3,297,436    
Eliminations [Member]
       
Assets:        
Land 0 0    
Buildings and improvements, less accumulated depreciation (300) 0    
Intangible lease assets, less accumulated amortization 0 0    
Construction in progress 0 0    
Total real estate assets (300) 0    
Investments in and amounts due from unconsolidated joint ventures 0 0    
Cash and cash equivalents 0 0 0 0
Tenant and straight-line receivables, net 0 0    
Advances to affiliates (6,600,931) (5,923,331)    
Investment in subsidiary (4,004,003) (4,069,044)    
Notes receivable (185,890) (186,390)    
Prepaid expenses, restricted cash, escrows, and other assets (977) (948)    
Goodwill 0 0    
Interest rate swaps 0 0    
Deferred financing costs, net 0 0    
Deferred lease costs, net 0 0    
Total assets (10,792,101) (10,179,713)    
Liabilities:        
Debt (185,890) (186,390)    
Accounts payable, accrued expenses, and accrued capital expenditures (977) (948)    
Advances from affiliates (6,643,887) (5,955,541)    
Deferred income 0 0    
Intangible lease liabilities, net 0 0    
Interest rate swaps 0 0    
Total liabilities (6,830,754) (6,142,879)    
Stockholders’ Equity:        
Common stock 0 0    
Additional paid-in capital (4,004,003) (4,069,044)    
Cumulative distributions in excess of earnings 42,656 32,210    
Other comprehensive income/(loss) 0 0    
Piedmont stockholders’ equity (3,961,347) (4,036,834)    
Noncontrolling interest 0 0    
Total stockholders’ equity (3,961,347) (4,036,834)    
Total liabilities and stockholders’ equity $ (10,792,101) $ (10,179,713)    
[1] Weighted average is based on the net book value of outstanding debt and interest rates in the table (or as footnoted) as of December 31, 2013.