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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
Real estate assets, at cost:    
Land $ 521,789 $ 529,941
Buildings and improvements, less accumulated depreciation of $892,131 and $861,206 as of June 30, 2022 and December 31, 2021, respectively 2,497,519 2,513,697
Intangible lease assets, less accumulated amortization of $85,459 and $83,777 as of June 30, 2022 and December 31, 2021, respectively 78,735 94,380
Construction in progress 41,544 43,406
Real estate assets held for sale, net 0 63,887
Total real estate assets 3,139,587 3,245,311
Cash and cash equivalents 6,397 7,419
Tenant receivables, net of allowance for doubtful accounts of $3,000 and $4,000 as of June 30, 2022 and December 31, 2021, respectively 5,164 2,995
Straight-line rent receivables 168,797 162,632
Notes receivable 0 118,500
Restricted cash and escrows 1,459 1,441
Prepaid expenses and other assets 26,955 20,485
Goodwill 98,918 98,918
Interest rate swaps 996 0
Deferred lease costs, less accumulated amortization of $211,757 and $205,100 as of June 30, 2022 and December 31, 2021, respectively 247,281 264,571
Other assets held for sale, net 0 8,393
Total assets 3,695,554 3,930,665
Liabilities:    
Unsecured debt, net of discount and unamortized debt issuance costs of $14,222 and $12,210 as of June 30, 2022 and December 31, 2021, respectively 1,674,778 1,877,790
Accounts payable, accrued expenses and accrued capital expenditures 99,724 114,453
Dividends payable 0 26,048
Deferred income 72,422 80,686
Intangible lease liabilities, less accumulated amortization of $36,733 and $35,880 as of June 30, 2022 and December 31, 2021, respectively 32,967 39,341
Interest rate swaps 0 4,924
Total liabilities 1,879,891 2,143,242
Commitments and Contingencies (Note 6) 0 0
Stockholders’ Equity:    
Shares-in-trust, 150,000,000 shares authorized; none outstanding as of June 30, 2022 or December 31, 2021 0 0
Preferred stock, no par value, 100,000,000 shares authorized; none outstanding as of June 30, 2022 or December 31, 2021 0 0
Common stock, $0.01 par value, 750,000,000 shares authorized; 123,390,448 and 123,076,695 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively 1,234 1,231
Additional paid-in capital 3,707,833 3,701,798
Cumulative distributions in excess of earnings (1,882,962) (1,899,081)
Accumulated other comprehensive loss (12,050) (18,154)
Piedmont stockholders’ equity 1,814,055 1,785,794
Noncontrolling interest 1,608 1,629
Total stockholders’ equity 1,815,663 1,787,423
Total liabilities and stockholders’ equity $ 3,695,554 $ 3,930,665