XML 95 R72.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Guarantor and Non-Guarantor Financial Information - Cash Flows (Details) - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Condensed Financial Statements, Captions [Line Items]      
Net Cash Provided By/(Used In) Operating Activities $ 208,484,000 $ 202,869,000 $ 242,805,000
Cash Flows from Investing Activities:      
Investment in real estate assets, consolidated joint venture, and real estate related intangibles, net of accruals (429,753,000) (224,019,000) (115,093,000)
Net sale proceeds from wholly-owned properties 589,767,000 575,227,000 375,518,000
Intercompany note receivable   0 0
Net sale proceeds received from unconsolidated joint ventures 0 0 12,334,000
Note receivable issuance 0 (3,200,000) 0
Note receivable payment 0 3,200,000 0
Investments in unconsolidated joint ventures     (1,162,000)
Deferred lease costs paid (25,639,000) (27,430,000) (30,985,000)
Distributions from subsidiaries 0 0  
Net cash provided by/(used in) investing activities 134,375,000 323,778,000 240,612,000
Cash Flows from Financing Activities:      
Debt issuance costs paid (151,000) (1,040,000) (132,000)
Proceeds from debt 592,000,000 977,062,000 180,000,000
Repayments of debt (798,019,000) (1,020,455,000) (476,401,000)
Intercompany note payable   0 0
Costs of issuance of common stock (710,000) (85,000) (182,000)
Value of shares withheld for payment of taxes related to employee stock compensation (3,295,000) (2,219,000) (3,403,000)
Repurchases of common stock as part of announced plan (16,899,000) (298,538,000) (60,474,000)
(Distributions to)/repayments from affiliates     0
Dividends paid and discount on dividend reinvestments (106,433,000) (184,093,000) (122,274,000)
Net cash used in financing activities (333,507,000) (529,368,000) (482,866,000)
Net increase/(decrease) in cash, cash equivalents, and restricted cash and escrows 9,352,000 (2,721,000) 551,000
Cash, cash equivalents, and restricted cash and escrows, beginning of year 6,034,000 8,755,000 8,204,000
Cash, cash equivalents, and restricted cash and escrows, end of year 15,386,000 6,034,000 8,755,000
Eliminations      
Condensed Financial Statements, Captions [Line Items]      
Net Cash Provided By/(Used In) Operating Activities (484,275,000) (309,741,000) 0
Cash Flows from Investing Activities:      
Investment in real estate assets, consolidated joint venture, and real estate related intangibles, net of accruals 0 0 0
Net sale proceeds from wholly-owned properties 0 0 0
Intercompany note receivable   (88,000,000) 48,610,000
Net sale proceeds received from unconsolidated joint ventures     0
Note receivable issuance   0  
Note receivable payment   0  
Investments in unconsolidated joint ventures     0
Deferred lease costs paid 0 0 0
Distributions from subsidiaries 89,631,000 (354,540,000)  
Net cash provided by/(used in) investing activities 89,631,000 (442,540,000) 48,610,000
Cash Flows from Financing Activities:      
Debt issuance costs paid 0 0 0
Proceeds from debt 0 0 0
Repayments of debt 0 0 0
Intercompany note payable   88,000,000 (48,610,000)
Costs of issuance of common stock 0 0 0
Value of shares withheld for payment of taxes related to employee stock compensation 0 0 0
Repurchases of common stock as part of announced plan 0 0 0
(Distributions to)/repayments from affiliates     0
Dividends paid and discount on dividend reinvestments 395,162,000 663,763,000 0
Net cash used in financing activities 395,162,000 751,763,000 (48,610,000)
Net increase/(decrease) in cash, cash equivalents, and restricted cash and escrows 518,000 (518,000) 0
Cash, cash equivalents, and restricted cash and escrows, beginning of year (518,000) 0 0
Cash, cash equivalents, and restricted cash and escrows, end of year 0 (518,000) 0
Piedmont (Parent) (Guarantor) | Reportable Legal Entities      
Condensed Financial Statements, Captions [Line Items]      
Net Cash Provided By/(Used In) Operating Activities 236,214,000 135,755,000 5,497,000
Cash Flows from Investing Activities:      
Investment in real estate assets, consolidated joint venture, and real estate related intangibles, net of accruals 0 0 0
Net sale proceeds from wholly-owned properties 0 0 0
Intercompany note receivable   0 0
Net sale proceeds received from unconsolidated joint ventures     0
Note receivable issuance   0  
Note receivable payment   0  
Investments in unconsolidated joint ventures     0
Deferred lease costs paid 0 0 0
Distributions from subsidiaries (108,918,000) 349,135,000  
Net cash provided by/(used in) investing activities (108,918,000) 349,135,000 0
Cash Flows from Financing Activities:      
Debt issuance costs paid 0 0 0
Proceeds from debt 0 0 0
Repayments of debt 0 0 0
Intercompany note payable   0 0
Costs of issuance of common stock (710,000) (85,000) (182,000)
Value of shares withheld for payment of taxes related to employee stock compensation (3,295,000) (2,219,000) (3,403,000)
Repurchases of common stock as part of announced plan (16,899,000) (298,538,000) (60,474,000)
(Distributions to)/repayments from affiliates     180,791,000
Dividends paid and discount on dividend reinvestments (106,392,000) (184,048,000) (122,229,000)
Net cash used in financing activities (127,296,000) (484,890,000) (5,497,000)
Net increase/(decrease) in cash, cash equivalents, and restricted cash and escrows 0 0 0
Cash, cash equivalents, and restricted cash and escrows, beginning of year 150,000 150,000 150,000
Cash, cash equivalents, and restricted cash and escrows, end of year 150,000 150,000 150,000
Piedmont OP (the Issuer) | Reportable Legal Entities      
Condensed Financial Statements, Captions [Line Items]      
Net Cash Provided By/(Used In) Operating Activities 220,068,000 141,293,000 (18,989,000)
Cash Flows from Investing Activities:      
Investment in real estate assets, consolidated joint venture, and real estate related intangibles, net of accruals (16,020,000) (14,479,000) (1,614,000)
Net sale proceeds from wholly-owned properties 113,000 36,572,000 23,028,000
Intercompany note receivable   88,000,000 100,000
Net sale proceeds received from unconsolidated joint ventures     12,334,000
Note receivable issuance   0  
Note receivable payment   0  
Investments in unconsolidated joint ventures     (1,162,000)
Deferred lease costs paid (3,220,000) (3,090,000) (4,081,000)
Distributions from subsidiaries 19,287,000 5,405,000  
Net cash provided by/(used in) investing activities 160,000 112,408,000 28,605,000
Cash Flows from Financing Activities:      
Debt issuance costs paid (151,000) (1,040,000) (132,000)
Proceeds from debt 592,000,000 977,062,000 180,000,000
Repayments of debt (797,000,000) (1,019,000,000) (335,000,000)
Intercompany note payable   0 (14,289,000)
Costs of issuance of common stock 0 0 0
Value of shares withheld for payment of taxes related to employee stock compensation 0 0 0
Repurchases of common stock as part of announced plan 0 0 0
(Distributions to)/repayments from affiliates     160,019,000
Dividends paid and discount on dividend reinvestments (5,420,000) (214,596,000) 0
Net cash used in financing activities (210,571,000) (257,574,000) (9,402,000)
Net increase/(decrease) in cash, cash equivalents, and restricted cash and escrows 9,657,000 (3,873,000) 214,000
Cash, cash equivalents, and restricted cash and escrows, beginning of year 34,000 3,907,000 3,693,000
Cash, cash equivalents, and restricted cash and escrows, end of year 9,691,000 34,000 3,907,000
Non-Guarantor Subsidiaries | Reportable Legal Entities      
Condensed Financial Statements, Captions [Line Items]      
Net Cash Provided By/(Used In) Operating Activities 236,477,000 235,562,000 256,297,000
Cash Flows from Investing Activities:      
Investment in real estate assets, consolidated joint venture, and real estate related intangibles, net of accruals (413,733,000) (209,540,000) (113,479,000)
Net sale proceeds from wholly-owned properties 589,654,000 538,655,000 352,490,000
Intercompany note receivable   0 (48,710,000)
Net sale proceeds received from unconsolidated joint ventures     0
Note receivable issuance   (3,200,000)  
Note receivable payment   3,200,000  
Investments in unconsolidated joint ventures     0
Deferred lease costs paid (22,419,000) (24,340,000) (26,904,000)
Distributions from subsidiaries 0 0  
Net cash provided by/(used in) investing activities 153,502,000 304,775,000 163,397,000
Cash Flows from Financing Activities:      
Debt issuance costs paid 0 0 0
Proceeds from debt 0 0 0
Repayments of debt (1,019,000) (1,455,000) (141,401,000)
Intercompany note payable   (88,000,000) 62,899,000
Costs of issuance of common stock 0 0 0
Value of shares withheld for payment of taxes related to employee stock compensation 0 0 0
Repurchases of common stock as part of announced plan 0 0 0
(Distributions to)/repayments from affiliates     (340,810,000)
Dividends paid and discount on dividend reinvestments (389,783,000) (449,212,000) (45,000)
Net cash used in financing activities (390,802,000) (538,667,000) (419,357,000)
Net increase/(decrease) in cash, cash equivalents, and restricted cash and escrows (823,000) 1,670,000 337,000
Cash, cash equivalents, and restricted cash and escrows, beginning of year 6,368,000 4,698,000 4,361,000
Cash, cash equivalents, and restricted cash and escrows, end of year $ 5,545,000 $ 6,368,000 $ 4,698,000