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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues:        
Rental income $ 113,350 $ 113,821 $ 361,048 $ 340,326
Tenant reimbursements 23,796 24,163 72,340 70,000
Property management fee revenue 441 501 1,341 1,478
Total revenues 137,587 138,485 434,729 411,804
Expenses:        
Property operating costs 54,090 54,867 165,253 161,438
Depreciation 30,000 31,610 90,827 94,948
Amortization 18,123 18,640 57,852 53,848
Impairment loss on real estate assets 0 22,951 0 33,901
General and administrative 6,618 7,429 23,250 23,518
Operating expenses 108,831 135,497 337,182 367,653
Real estate operating income 28,756 2,988 97,547 44,151
Other income (expense):        
Interest expense (16,183) (15,496) (52,661) (48,294)
Other income/(expense) 290 (720) 228 (467)
Net recoveries from casualty events 0 34 0 34
Equity in income of unconsolidated joint ventures 3,754 129 3,872 354
Other income (expense) (12,139) (16,053) (48,561) (48,373)
Income/(loss) from continuing operations 16,617 (13,065) 48,986 (4,222)
Discontinued operations:        
Operating income 0 1 0 0
Income from discontinued operations 0 1 0 0
Gain/(loss) on sale of real estate assets, net 109,512 (57) 115,951 73,758
Net income/(loss) 126,129 (13,121) 164,937 69,536
Plus: Net income applicable to noncontrolling interest 4 14 10 7
Net income/(loss) applicable to Piedmont $ 126,133 $ (13,107) $ 164,947 $ 69,543
Per share information – basic and diluted:        
Income/(loss) from continuing operations and gain/(loss) on sale of real estate assets (in dollars per share) $ 0.87 $ (0.09) $ 1.13 $ 0.48
Income from discontinued operations (in dollars per share) 0.00 0.00 0.00 0.00
Net income applicable to common stockholders (in dollars per share) $ 0.87 $ (0.09) $ 1.13 $ 0.48
Weighted-average common shares outstanding – basic (in shares) 145,415,678 145,231,160 145,372,182 145,228,755
Weighted-average common shares outstanding – diluted (in shares) 145,719,431 145,669,237 145,679,582 145,601,026