Consolidated Statements of Income - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2018 |
Jun. 30, 2017 |
Jun. 30, 2018 |
Jun. 30, 2017 |
|
Revenues: | ||||
Rental income | $ 101,478 | $ 118,492 | $ 202,932 | $ 236,531 |
Tenant reimbursements | 22,047 | 24,285 | 45,041 | 49,122 |
Property management fee revenue | 382 | 400 | 691 | 925 |
Other property related income | 5,267 | 5,502 | 10,410 | 10,564 |
Total revenues | 129,174 | 148,679 | 259,074 | 297,142 |
Expenses: | ||||
Property operating costs | 52,637 | 56,287 | 104,496 | 112,117 |
Depreciation | 27,115 | 30,059 | 54,260 | 60,827 |
Amortization | 15,245 | 19,314 | 31,978 | 39,729 |
General and administrative | 8,258 | 7,528 | 14,810 | 15,678 |
Operating expenses | 103,255 | 113,188 | 205,544 | 228,351 |
Real estate operating income | 25,919 | 35,491 | 53,530 | 68,791 |
Other income (expense): | ||||
Interest expense | (15,687) | (18,421) | (29,445) | (36,478) |
Other income/(expense) | 731 | 38 | 1,177 | (62) |
Equity in income of unconsolidated joint ventures | 0 | 107 | 0 | 118 |
Loss on extinguishment of debt | 0 | 0 | (1,680) | 0 |
Gain/(loss) on sale of real estate assets, net | (23) | 6,492 | 45,186 | 6,439 |
Net income | 10,940 | 23,707 | 68,768 | 38,808 |
Plus: Net loss applicable to noncontrolling interest | 2 | 3 | 4 | 6 |
Net income applicable to Piedmont | $ 10,942 | $ 23,710 | $ 68,772 | $ 38,814 |
Per share information – basic and diluted: | ||||
Net income applicable to common stockholders (in usd per share) | $ 0.09 | $ 0.16 | $ 0.52 | $ 0.27 |
Weighted-average common shares outstanding – basic (in shares) | 128,346,433 | 145,412,524 | 132,090,741 | 145,350,074 |
Weighted-average common shares outstanding – diluted (in shares) | 128,700,743 | 145,813,130 | 132,431,642 | 145,779,709 |
X | ||||||||||
- Definition Noncash Gain (Loss) On Extinguishment Of Debt No definition available.
|
X | ||||||||||
- Definition The amount of amortization of deferred charges applied against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of expense incurred and directly related to generating revenue from leased and rented property or equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. No definition available.
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition This element represents the amount of gain (loss) on sale of properties during the reporting period net of the applicable income taxes realized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Revenue, comprised of base and incentive revenue derived from the management of joint ventures, managing third-party properties, or another entity's operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
X | ||||||||||
- Definition The total amount of revenue recognized for the period from operating leases, including minimum lease revenue, contingent revenue, percentage revenue and sublease revenue. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Other real estate revenue not otherwise specified in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition In accordance with the provisions of their lease agreement, this element represents allowable charges due a landlord from its tenant. In retail store and office building leases, for example, tenant reimbursements may cover items such as taxes, utilities, and common area expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|