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Segment Information
 9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Segment Information Segment Information
Piedmont's President and Chief Executive Officer has been identified as Piedmont's chief operating decision maker ("CODM"), as defined by GAAP. The CODM evaluates Piedmont's portfolio and assesses the ongoing operations and performance of its properties utilizing the following geographic segments: Atlanta, Dallas, Washington, D.C., Boston, Orlando, New York, and Minneapolis. These operating segments are also Piedmont’s reportable segments. As of September 30, 2022, Piedmont also owned two properties in Houston that do not meet the definition of an operating or reportable segment as the CODM does not regularly review these properties for purposes of allocating resources or assessing performance. Further, Piedmont does not maintain a significant presence or anticipate further investment in this market. These two properties are the primary contributors to accrual-based net operating income ("NOI") included in "Other" below. During the periods presented, there have been no material inter segment transactions. The accounting policies of the reportable segments are the same as Piedmont's accounting policies.

NOI by geographic segment is the primary performance measure reviewed by Piedmont's CODM to assess operating performance and consists only of revenues and expenses directly related to real estate rental operations. NOI is calculated by deducting property operating costs from lease revenues and other property related income. NOI reflects property acquisitions and dispositions, occupancy levels, rental rate increases or decreases, and the recoverability of operating expenses. Piedmont's calculation of NOI may not be directly comparable to similarly titled measures calculated by other REITs.

Asset value information and capital expenditures by segment are not reported because the CODM does not use these measures to assess performance.

The following table presents accrual-based lease revenue and other property related income included in NOI by geographic reportable segment (in thousands):

Three Months EndedNine Months Ended
September 30, 2022September 30, 2021September 30, 2022September 30, 2021
Atlanta$34,026 $23,795 $92,558 $69,644 
Dallas28,379 26,478 81,881 82,903 
Washington, D.C.15,608 15,654 46,980 44,937 
Boston14,735 16,992 44,797 48,226 
Orlando15,131 13,074 43,513 41,453 
New York14,525 12,845 42,461 39,329 
Minneapolis15,470 15,788 45,987 46,142 
Total reportable segments137,874 124,626 398,177 372,634 
Other6,226 6,445 18,381 17,912 
Total Revenues$144,100 $131,071 $416,558 $390,546 
The following table presents NOI by geographic reportable segment (in thousands):

Three Months EndedNine Months Ended
September 30, 2022September 30, 2021September 30, 2022September 30, 2021
Atlanta$21,627 $15,127 $58,354 $44,725 
Dallas15,325 16,246 47,189 50,267 
Washington, D.C.9,712 9,802 29,851 27,460 
Boston9,646 12,058 29,922 33,829 
Orlando8,865 7,656 26,206 25,743 
New York7,959 7,502 23,901 22,636 
Minneapolis8,072 8,089 23,950 24,556 
Total reportable segments81,206 76,480 239,373 229,216 
Other3,893 2,731 10,794 6,436 
Total NOI$85,099 $79,211 $250,167 $235,652 

A reconciliation of Net income applicable to Piedmont to NOI is presented below (in thousands):

Three Months EndedNine Months Ended
September 30, 2022September 30, 2021September 30, 2022September 30, 2021
Net income applicable to Piedmont$3,331 $11,306 $71,261 $30,597 
Management fee revenue (1)
(177)(309)(743)(946)
Depreciation and amortization58,230 50,935 165,850 152,641 
General and administrative expenses6,590 6,955 21,212 22,417 
Interest expense17,244 12,450 44,917 37,375 
Other income(119)(2,121)(1,655)(6,423)
Gain on sale of real estate assets— — (50,674)— 
Net loss applicable to noncontrolling interests— (5)(1)(9)
Total NOI$85,099 $79,211 $250,167 $235,652 

(1)Presented net of related operating expenses incurred to earn such management fee revenue. Such operating expenses are a component of property operating costs in the accompanying consolidated statements of income.