XML 19 R25.htm IDEA: XBRL DOCUMENT v2.4.0.8
Fair Value Measurement of Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2014
Fair Value Measurement of Financial Instruments [Abstract]  
Fair Value, by Balance Sheet Grouping
The following table sets forth the carrying and estimated fair value for each of Piedmont’s financial instruments, as well as its level within the GAAP fair value hierarchy, as of March 31, 2014 and December 31, 2013, respectively (in thousands):

 
March 31, 2014
 
December 31, 2013
Financial Instrument
Carrying Value
 
Estimated Fair Value
 
Level Within Fair Value Hierarchy
 
Carrying Value
 
Estimated Fair Value
Level Within Fair Value Hierarchy
Assets:
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents(1)
$
9,271

 
$
9,271

 
Level 1
 
$
6,973

 
$
6,973

Level 1
Tenant receivables, net(1)
$
22,196

 
$
22,196

 
Level 1
 
$
31,145

 
$
31,145

Level 1
Restricted cash and escrows(1)
$
751

 
$
751

 
Level 1
 
$
394

 
$
394

Level 1
Interest rate swap asset
$
464

 
$
464

 
Level 2
 
$
24,176

 
$
24,176

Level 2
Liabilities:
 
 
 
 
 
 
 
 
 
 
Accounts payable and accrued expenses(1)
$
16,983

 
$
16,983

 
Level 1
 
$
16,680

 
$
16,680

Level 1
Interest rate swap liability
$
4,366

 
$
4,366

 
Level 2
 
$
4,526

 
$
4,526

Level 2
Debt
$
2,029,822

 
$
2,036,959

 
Level 2
 
$
2,002,205

 
$
2,004,870

Level 2

(1) 
For the periods presented, the carrying value of these financial instruments approximates estimated fair value due to their short-term maturity.