Segment Information (Tables)

6 Months Ended

Jun. 30, 2022

Reconciliation of Revenue from Segments to Consolidated

The following tables summarize the rental and other revenues and net operating income, the primary industry property-level performance metric used by our chief operating decision maker and which is defined as rental and other revenues less rental property and other expenses, for each of our reportable segments.


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Rental and Other Revenues:
Office:
Atlanta	$	35,447	$	35,738	$	71,001	$	71,713
Charlotte	16,874		8,917		33,818		18,051
Nashville	42,606		35,578		86,053		70,737
Orlando	13,352		12,730		26,664		25,289
Pittsburgh	14,908		13,949		29,854		28,567
Raleigh	45,535		37,655		91,831		74,697
Richmond	10,432		11,751		20,965		23,213
Tampa	23,556		25,886		47,579		50,310
Total Office Segment	202,710		182,204		407,765		362,577
Other	1,131		3,298		2,454		6,730
Total Rental and Other Revenues	$	203,841	$	185,502	$	410,219	$	369,307

Reconciliation of Operating Profit (Loss) from Segments to Consolidated


Net Operating Income:
Office:
Atlanta	$	23,267	$	23,622	$	46,948	$	47,622
Charlotte	12,807		7,035		25,857		14,287
Nashville	31,417		25,824		63,939		50,817
Orlando	8,262		7,782		16,399		15,494
Pittsburgh	9,051		8,411		17,912		17,300
Raleigh	34,020		28,444		68,735		56,580
Richmond	7,363		8,234		14,588		16,287
Tampa	14,615		17,857		30,561		34,497
Total Office Segment	140,802		127,209		284,939		252,884
Other	670		2,067		1,489		4,008
Total Net Operating Income	141,472		129,276		286,428		256,892
Reconciliation to net income:
Depreciation and amortization	(69,742)		(61,949)		(139,409)		(122,876)
Impairments of real estate assets	(35,000)		—		(35,000)		—
General and administrative expenses	(9,591)		(10,107)		(23,147)		(20,059)
Interest expense	(25,027)		(19,001)		(49,420)		(38,769)
Other income	120		332		483		644
Gains on disposition of property	50,044		22,862		54,144		41,799
Equity in earnings of unconsolidated affiliates	326		431		626		1,068
Net income	$	52,602	$	61,844	$	94,705	$	118,699