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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues:        
Rental income $ 111,767 $ 117,454 $ 226,505 $ 235,261
Tenant reimbursements 23,086 28,813 45,837 60,203
Property management fee revenue 454 467 977 1,029
Total revenues 135,307 146,734 273,319 296,493
Expenses:        
Property operating costs 52,280 61,479 106,468 125,715
Depreciation 31,556 36,039 63,338 72,271
Amortization 17,402 14,955 35,208 29,625
Impairment loss on real estate assets 8,308 5,354 8,308 5,354
General and administrative 8,328 8,083 16,192 14,490
Operating expenses 117,874 125,910 229,514 247,455
Real estate operating income 17,433 20,824 43,805 49,038
Other income (expense):        
Interest expense (16,413) (18,172) (32,798) (37,188)
Other income/(expense) (41) 596 253 415
Equity in income of unconsolidated joint ventures 111 124 226 283
Other income (expense) (16,343) (17,452) (32,319) (36,490)
Income from continuing operations 1,090 3,372 11,486 12,548
Discontinued operations:        
Operating loss (1) (3) (1) (3)
Loss from discontinued operations (1) (3) (1) (3)
Gain on sale of real estate assets 78,987 26,611 78,967 36,684
Net income 80,076 29,980 90,452 49,229
Less: Net income applicable to noncontrolling interest (4) (4) (8) (8)
Net income applicable to Piedmont $ 80,072 $ 29,976 $ 90,444 $ 49,221
Per share information – basic and diluted:        
Income from continuing operations and gain/(loss) on sale of real estate assets (in dollars per share) $ 0.55 $ 0.20 $ 0.62 $ 0.32
Net income applicable to common stockholders (in dollars per share) $ 0.55 $ 0.20 $ 0.62 $ 0.32
Weighted-average common shares outstanding – basic 145,178,601 153,559,076 145,227,539 153,946,898
Weighted-average common shares outstanding – diluted [1] 145,698,723 153,757,404 145,765,149 154,174,270
[1] Due to repurchases of common stock during the current year, Piedmont has 145,229,642 shares of common stock outstanding as of June 30, 2016.