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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenues:                              
Rental income                         $ 459,890 $ 468,872 $ 454,635
Tenant reimbursements                         93,961 113,881 109,548
Property management fee revenue                         1,864 2,016 2,069
Total revenues $ 143,911 $ 138,485 $ 135,307 $ 138,012 $ 139,461 $ 148,815 $ 146,734 $ 149,759 $ 146,711 $ 144,641 $ 138,580 $ 136,320 555,715 584,769 566,252
Expenses:                              
Property operating costs                         218,934 242,022 239,431
Depreciation                         127,733 134,503 138,596
Amortization                         75,119 60,886 56,579
Impairment loss on real estate assets 0 22,951 10,950 0 0 37,105 6,196 0         33,901 [1] 43,301 [1] 0 [1]
General and administrative                         29,244 30,346 23,825
Operating Expenses                         484,931 511,058 458,431
Real estate operating income 26,633 2,988 14,791 26,372 28,938 (3,424) 19,983 28,214 28,789 27,199 26,556 25,277 70,784 73,711 107,821
Other income (expense):                              
Interest expense                         (64,860) (73,998) (74,446)
Other income/(expense)                         (13) 1,565 62
Net recoveries/(loss) from casualty events and litigation settlements                         34 (278) 6,992
Equity in income/(loss) of unconsolidated joint ventures                         362 553 (350)
Nonoperating Income (Expense)                         (64,477) (72,158) (67,742)
Income from continuing operations 10,529 (13,065) (1,553) 10,396 11,164 (21,318) 2,531 9,176 12,567 9,150 9,325 9,037 6,307 1,553 40,079
Discontinued operations:                              
Operating income                         0 84 954
Gain/(loss) on sale of real estate assets                         0 (1) 262
Income from discontinued operations 0 1 (1) 0 72 14 (3) 0 (42) 16 882 360 0 83 1,216
Gain on sale of real estate assets 19,652 (57) 73,835 (20) 84,427 14,796 21,520 8,940 (8) 0 878 0 93,410 129,683 870
Net income 30,181 (13,121) 72,281 10,376 95,663 (6,508) 24,048 18,116 12,517 9,166 11,085 9,397 99,717 131,319 42,165
Less: Net loss/(income) applicable to noncontrolling interest                         15 (15) (15)
Net income applicable to Piedmont $ 30,189 $ (13,107) $ 72,278 $ 10,372 $ 95,660 $ (6,512) $ 24,044 $ 18,112 $ 12,514 $ 9,162 $ 11,081 $ 9,393 $ 99,732 $ 131,304 $ 42,150
Per share information— basic and diluted:                              
Income from continuing operations and gain on sale of real estate assets (in dollars per share)                         $ 0.69 $ 0.87 $ 0.26
Income from discontinued operations (in dollars per share)                         0.00 0.00 0.01
Net income available to common stockholders (in dollars per share) $ 0.21 $ (0.09) $ 0.50 $ 0.07 $ 0.65 $ (0.05) $ 0.15 $ 0.12 $ 0.08 $ 0.06 $ 0.07 $ 0.06 $ 0.69 $ 0.87 $ 0.27
Weighted-average shares outstanding - basic (in shares)                         145,230,382 150,537,757 154,452,121
Weighted-average shares outstanding - diluted (in shares)                         145,634,953 150,880,116 154,585,273
[1] The fair value measurements used in the evaluation of the non-financial assets above are considered to be Level 1 valuations within the fair value hierarchy as defined by GAAP, as there are direct observations and transactions involving the assets by unrelated, third-party purchasers.