XML 22 R2.htm IDEA: XBRL DOCUMENT v3.19.3
Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2019
Dec. 31, 2018
Real estate assets, at cost:    
Land $ 506,440 $ 470,432
Buildings and improvements, less accumulated depreciation of $772,122 and $718,070 as of September 30, 2019 and December 31, 2018, respectively 2,327,055 2,121,570
Intangible lease assets, less accumulated amortization of $77,483 and $87,391 as of September 30, 2019 and December 31, 2018, respectively 88,371 77,676
Construction in progress 13,866 15,848
Real estate assets held for sale, net 213,094 331,068
Total real estate assets 3,148,826 3,016,594
Cash and cash equivalents 10,284 4,571
Tenant receivables 10,091 10,800
Straight-line rent receivables 147,197 136,762
Restricted cash and escrows 1,820 1,463
Prepaid expenses and other assets 27,143 24,691
Goodwill 98,918 98,918
Interest rate swaps 0 1,199
Deferred lease costs, less accumulated amortization of $173,490 and $176,919 as of September 30, 2019 and December 31, 2018, respectively 267,616 236,198
Other assets held for sale, net 40,036 61,233
Total assets 3,751,931 3,592,429
Liabilities:    
Unsecured debt, net of discount and unamortized debt issuance costs of $8,207 and $9,879 as of September 30, 2019 and December 31, 2018, respectively 1,689,793 1,495,121
Secured debt, net of premiums and unamortized debt issuance costs of $418 and $645 as of September 30, 2019 and December 31, 2018, respectively 189,451 190,351
Accounts payable, accrued expenses and accrued capital expenditures 114,812 93,739
Dividends payable 0 26,972
Deferred income 27,985 28,779
Intangible lease liabilities, less accumulated amortization of $49,613 and $59,144 as of September 30, 2019 and December 31, 2018, respectively 34,970 35,708
Interest rate swaps 6,862 839
Other liabilities held for sale 7,275 8,780
Total liabilities 2,071,148 1,880,289
Commitments and Contingencies (Note 8) $ 0 $ 0
Stockholders’ Equity:    
Shares-in-trust, shares authorized (in shares) 150,000,000 150,000,000
Shares-in-trust, shares outstanding (in shares) 0 0
Shares-in-trust, 150,000,000 shares authorized; none outstanding as of September 30, 2019 or December 31, 2018 $ 0 $ 0
Preferred stock, par value (in dollars per share) $ 0 $ 0
Preferred stock, shares authorized (in shares) 100,000,000 100,000,000
Preferred stock, shares outstanding (in shares) 0 0
Preferred stock, no par value, 100,000,000 shares authorized; none outstanding as of September 30, 2019 or December 31, 2018 $ 0 $ 0
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 750,000,000 750,000,000
Common stock, shares outstanding (in shares) 125,783,408 126,218,554
Common stock, $0.01 par value, 750,000,000 shares authorized; 125,783,408 and 126,218,554 shares issued and outstanding as of September 30, 2019 and December 31, 2018, respectively $ 1,258 $ 1,262
Additional paid-in capital 3,685,504 3,683,186
Cumulative distributions in excess of earnings (2,007,438) (1,982,542)
Other comprehensive income/(loss) (283) 8,462
Piedmont stockholders’ equity 1,679,041 1,710,368
Noncontrolling interest 1,742 1,772
Total stockholders’ equity 1,680,783 1,712,140
Total liabilities and stockholders’ equity $ 3,751,931 $ 3,592,429