XML 95 R85.htm IDEA: XBRL DOCUMENT v2.4.0.8
Selected Quarterly Financial Data (Unaudited) (Details) (USD $)
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Revenues (other than gains) $ 77,465,000 $ 73,325,000 $ 72,623,000 $ 68,165,000 $ 57,357,000 $ 55,967,000 $ 50,505,000 $ 46,667,000 $ 291,578,000 $ 210,496,000 $ 147,297,000
Expenses (82,226,000) (73,445,000) (67,047,000) (62,372,000) (100,407,000) (48,397,000) (44,813,000) (42,175,000) (285,090,000) (235,792,000) (156,382,000)
Operating income (loss) (4,761,000) (120,000) 5,576,000 5,793,000 (43,050,000) 7,570,000 5,692,000 4,492,000 6,488,000 (25,296,000) (9,085,000)
Interest and other income 1,618,000 434,000 82,000 102,000 67,000 64,000 44,000 97,000 2,236,000 272,000 938,000
Equity in earnings (loss) of unconsolidated joint ventures (294,000) 393,000 79,000 0         178,000 0 57,000
Interest expense (12,610,000) (11,521,000) (11,162,000) (10,329,000) (8,892,000) (8,378,000) (8,394,000) (8,688,000) (45,622,000) (34,352,000) (29,929,000)
Gain on sale of real estate         0 48,000 0 0 0 48,000 743,000
Income tax benefit (expense) (305,000) 819,000 384,000 507,000 (118,000) 7,000 11,000 (161,000) 1,405,000 (261,000) (56,000)
Recovery of loss on mortgage loan receivable         0 500,000 0 0      
Loss from continuing operations (16,352,000) (9,995,000) (5,041,000) (3,927,000) (51,993,000) (189,000) (2,647,000) (4,260,000) (35,315,000) (59,089,000) (37,332,000)
Income (loss) from discontinued operations (1,684,000) (4,863,000) (3,628,000) 960,000 (1,976,000) 410,000 724,000 4,012,000 (9,215,000) 3,170,000 (192,496,000)
Gain on sale of real estate from discontinued operations 20,406,000 11,545,000 0 542,000 3,171,000 995,000 3,197,000 5,575,000 32,493,000 12,938,000 17,825,000
Total discontinued operations 18,722,000 6,682,000 (3,628,000) 1,502,000 1,195,000 1,405,000 3,921,000 9,587,000 23,278,000 16,108,000 (174,671,000)
Net income (loss) 2,370,000 (3,313,000) (8,669,000) (2,425,000) (50,798,000) 1,216,000 1,274,000 5,327,000 (12,037,000) (42,981,000) (212,003,000)
Noncontrolling interests (10,927,000) 1,007,000 1,050,000 1,257,000 (1,796,000) (913,000) (1,499,000) 622,000 (7,904,000) 3,317,000 85,105,000
Net income (loss) attributable to Parkway Properties, Inc. (8,557,000) (2,306,000) (7,619,000) (1,168,000) (49,002,000) 2,129,000 2,773,000 4,705,000 (19,650,000) (39,395,000) (126,903,000)
Dividends on preferred stock 0 0 (722,000) (2,711,000) (2,711,000) (2,711,000) (2,710,000) (2,711,000) (3,433,000) (10,843,000) (10,052,000)
Dividends on convertible preferred stock             (1,011,000)   0 (1,011,000) 0
Dividends on preferred stock redemption     (6,604,000)           (6,604,000) 0 0
Net income (loss) attributable to common stockholders (8,557,000) (2,306,000) (14,945,000) (3,879,000) (51,713,000) (582,000) (948,000) 1,994,000 (29,687,000) (51,249,000) (136,955,000)
Basic:                      
Loss from continuing operations attributable to Parkway Properties, Inc. (in dollars per share) $ (0.21) $ (0.13) $ (0.17) $ (0.09) $ (1.19) $ (0.04) $ (0.19) $ (0.19)      
Discontinued operations (in dollars per share) $ 0.09 $ 0.09 $ (0.05) $ 0.02 $ 0.03 $ 0.02 $ 0.15 $ 0.28      
Basic net income (loss) attributable to Parkway Properties, Inc. (in dollars per share) $ (0.12) $ (0.04) $ (0.22) $ (0.07) $ (1.16) $ (0.02) $ (0.04) $ 0.09      
Dividends per common share (in dollars per share) $ 0.15 $ 0.15 $ 0.15 $ 0.1875 $ 0.1125 $ 0.1125 $ 0.075 $ 0.075 $ 0.6375 $ 0.375 $ 0.30
Diluted:                      
Loss from continuing operations attributable to Parkway Properties, Inc. (in dollars per share) $ (0.21) $ (0.13) $ (0.17) $ (0.09) $ (1.19) $ (0.04) $ (0.19) $ (0.19)      
Discontinued operations (in dollars per share) $ 0.09 $ 0.09 $ (0.05) $ 0.02 $ 0.03 $ 0.02 $ 0.15 $ 0.28      
Diluted net income (loss) attributable to Parkway Properties, Inc. (in dollars per share) $ (0.12) $ (0.04) $ (0.22) $ (0.07) $ (1.16) $ (0.02) $ (0.04) $ 0.09      
Weighted average shares outstanding:                      
Basic 71,221 68,564 68,526 56,849 44,476 36,487 23,440 21,568 66,336 31,542 21,497
Diluted 71,221 68,564 68,526 56,849 44,476 36,487 23,440 21,568 66,336 31,542 21,497
Scenario, Previously Reported [Member]
                     
Revenues (other than gains)   74,576,000 76,078,000 72,112,000   59,589,000 55,077,000 51,287,000      
Loss from continuing operations   (15,063,000) (4,282,000) (2,620,000)   551,000 (1,259,000) (3,520,000)      
Total discontinued operations   11,750,000 (4,387,000) 195,000   665,000 2,533,000 8,847,000      
Restatement Adjustment [Member]
                     
Revenues (other than gains)   (1,251,000) (3,455,000) (3,947,000)   (3,622,000) (4,572,000) (4,620,000)      
Loss from continuing operations   5,068,000 (759,000) (1,307,000)   (740,000) (1,388,000) (740,000)      
Total discontinued operations   $ (5,068,000) $ 759,000 $ 1,307,000   $ 740,000 $ 1,388,000 $ 740,000