XML 20 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenues:                      
Rental income                 $ 411,667 $ 455,125 $ 439,918
Tenant reimbursements                 92,743 98,139 94,901
Total revenues $ 137,185 $ 129,708 $ 129,174 $ 129,900 $ 139,444 $ 137,587 $ 148,679 $ 148,463 525,967 574,173 555,715
Expenses:                      
Property operating costs                 209,338 222,441 220,796
Depreciation                 107,956 119,288 127,733
Amortization                 63,295 75,367 75,119
Impairment loss on real estate assets                 0 46,461 33,901
General and administrative                 29,713 29,319 27,382
Operating Expenses                 410,302 492,876 484,931
Real estate operating income                 115,665 81,297 70,784
Other income (expense):                      
Interest expense                 (61,023) (68,124) (64,860)
Other income/(expense)                 1,638 657 (13)
Net recoveries from casualty events                 0 0 34
Equity in income of unconsolidated joint ventures                 0 3,845 362
Loss on extinguishment of debt                 (1,680) 0 0
Gain on sale of real estate assets, net 30,505 0 (23) 45,209 (77) 109,512 6,492 (53) 75,691 115,874 93,410
Nonoperating Income (Expense)                 14,626 52,252 28,933
Net income 45,409 16,114 10,940 57,828 (31,388) 126,129 23,707 15,101 130,291 133,549 99,717
Net loss applicable to noncontrolling interest                 5 15 15
Net income applicable to Piedmont $ 45,410 $ 16,114 $ 10,942 $ 57,830 $ (31,383) $ 126,133 $ 23,710 $ 15,104 $ 130,296 $ 133,564 $ 99,732
Per share information— basic and diluted:                      
Net income available to common stockholders (in dollars per share)         $ (0.21) $ 0.87 $ 0.16 $ 0.10 $ 1.00 $ 0.92 $ 0.69
Weighted-average shares outstanding - basic (in shares)                 130,161,202 145,043,503 145,230,382
Weighted-average shares outstanding - diluted (in shares)                 130,635,650 145,379,994 145,634,953
Property management fee revenue                      
Revenues:                      
Property related revenue                 $ 1,450 $ 1,735 $ 1,914
Other property related income                      
Revenues:                      
Property related revenue                 $ 20,107 $ 19,174 $ 18,982