XML 81 R65.htm IDEA: XBRL DOCUMENT v3.10.0.1
Guarantor and Non-Guarantor Financial Information - Condensed Consolidated Statements of Income (Details) - 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                 130,291 133,549 99,717
Income from subsidiaries                 0    
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
Eliminations                      
Revenues:                      
Rental income                 (2,027) (1,791) (2,631)
Tenant reimbursements                 (446) (474) (498)
Total revenues                 (18,141) (18,735) (18,162)
Expenses:                      
Property operating costs                 (18,141) (18,735) (18,377)
Depreciation                 0 0 0
Amortization                 0 0 0
Impairment loss on real estate assets                 0 0 0
General and administrative                 0 0 (35,446)
Operating Expenses                 (18,141) (18,735) (53,823)
Real estate operating income                 0 0 35,661
Other income (expense):                      
Interest expense                 7,630 15,360 11,884
Other income/(expense)                 (7,630) (15,360) (11,884)
Net recoveries from casualty events                     0
Equity in income of unconsolidated joint ventures                   0 0
Loss on extinguishment of debt                 0    
Gain on sale of real estate assets, net                 0 0 0
Nonoperating Income (Expense)                 0 0 0
Net income                 0 0 35,661
Income from subsidiaries                 (309,233)    
Net income                 (309,233)    
Net loss applicable to noncontrolling interest                 0 0 0
Net income applicable to Piedmont                 (309,233) 0 35,661
Piedmont (Parent) (Guarantor) | Reportable Legal Entities                      
Revenues:                      
Rental income                 0 0 0
Tenant reimbursements                 0 0 0
Total revenues                 0 0 0
Expenses:                      
Property operating costs                 0 0 0
Depreciation                 0 0 0
Amortization                 0 0 0
Impairment loss on real estate assets                 0 0 0
General and administrative                 289 347 311
Operating Expenses                 289 347 311
Real estate operating income                 (289) (347) (311)
Other income (expense):                      
Interest expense                 0 0 0
Other income/(expense)                 0 0 282
Net recoveries from casualty events                     0
Equity in income of unconsolidated joint ventures                   0 0
Loss on extinguishment of debt                 0    
Gain on sale of real estate assets, net                 0 0 0
Nonoperating Income (Expense)                 0 0 282
Net income                 (289) (347) (29)
Income from subsidiaries                 130,585    
Net income                 130,296    
Net loss applicable to noncontrolling interest                 0 0 0
Net income applicable to Piedmont                 130,296 (347) (29)
Piedmont OP (the Issuer) | Reportable Legal Entities                      
Revenues:                      
Rental income                 35,221 42,407 53,527
Tenant reimbursements                 9,489 11,702 14,295
Total revenues                 44,840 54,253 69,088
Expenses:                      
Property operating costs                 19,583 22,805 33,829
Depreciation                 11,514 12,995 16,657
Amortization                 1,990 3,049 3,715
Impairment loss on real estate assets                 0 87 8,259
General and administrative                 6,576 6,443 26,452
Operating Expenses                 39,663 45,379 88,912
Real estate operating income                 5,177 8,874 (19,824)
Other income (expense):                      
Interest expense                 (54,095) (56,769) (49,108)
Other income/(expense)                 144 9,168 9,560
Net recoveries from casualty events                     0
Equity in income of unconsolidated joint ventures                   3,845 362
Loss on extinguishment of debt                 (1,680)    
Gain on sale of real estate assets, net                 1,417 6,431 31,275
Nonoperating Income (Expense)                 (54,214) (37,325) (7,911)
Net income                 (49,037) (28,451) (27,735)
Income from subsidiaries                 178,648    
Net income                 129,611    
Net loss applicable to noncontrolling interest                 0 0 0
Net income applicable to Piedmont                 129,611 (28,451) (27,735)
Non-Guarantor Subsidiaries | Reportable Legal Entities                      
Revenues:                      
Rental income                 378,473 414,509 389,022
Tenant reimbursements                 83,700 86,911 81,104
Total revenues                 499,268 538,655 504,789
Expenses:                      
Property operating costs                 207,896 218,371 205,344
Depreciation                 96,442 106,293 111,076
Amortization                 61,305 72,318 71,404
Impairment loss on real estate assets                 0 46,374 25,642
General and administrative                 22,848 22,529 36,065
Operating Expenses                 388,491 465,885 449,531
Real estate operating income                 110,777 72,770 55,258
Other income (expense):                      
Interest expense                 (14,558) (26,715) (27,636)
Other income/(expense)                 9,124 6,849 2,029
Net recoveries from casualty events                     34
Equity in income of unconsolidated joint ventures                   0 0
Loss on extinguishment of debt                 0    
Gain on sale of real estate assets, net                 74,274 109,443 62,135
Nonoperating Income (Expense)                 68,840 89,577 36,562
Net income                 179,617 162,347 91,820
Income from subsidiaries                 0    
Net income                 179,617    
Net loss applicable to noncontrolling interest                 5 15 15
Net income applicable to Piedmont                 179,622 162,362 91,835
Management Service                      
Revenues:                      
Property management fee revenue                 1,450 1,735 1,914
Management Service | Eliminations                      
Revenues:                      
Property management fee revenue                 (15,668) (16,470) (15,033)
Management Service | Piedmont (Parent) (Guarantor) | Reportable Legal Entities                      
Revenues:                      
Property management fee revenue                 0 0 0
Management Service | Piedmont OP (the Issuer) | Reportable Legal Entities                      
Revenues:                      
Property management fee revenue                 0 0 0
Management Service | Non-Guarantor Subsidiaries | Reportable Legal Entities                      
Revenues:                      
Property management fee revenue                 17,118 18,205 16,947
Other property related income                      
Revenues:                      
Property management fee revenue                 20,107 19,174 18,982
Other property related income | Eliminations                      
Revenues:                      
Property management fee revenue                 0 0 0
Other property related income | Piedmont (Parent) (Guarantor) | Reportable Legal Entities                      
Revenues:                      
Property management fee revenue                 0 0 0
Other property related income | Piedmont OP (the Issuer) | Reportable Legal Entities                      
Revenues:                      
Property management fee revenue                 130 144 1,266
Other property related income | Non-Guarantor Subsidiaries | Reportable Legal Entities                      
Revenues:                      
Property management fee revenue                 $ 19,977 $ 19,030 $ 17,716