Segment Information

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Segment Information

Segment Information

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. Our segment information for the three and nine months ended September 30, 2021 has been retrospectively revised from previously reported amounts to reflect a change in our reportable segments as a result of our plan to exit the Pittsburgh market.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Rental and Other Revenues:
Office:
Atlanta	$	35,804	$	36,672	$	106,805	$	108,385
Charlotte	18,825		14,313		52,643		32,364
Nashville	44,587		36,136		130,640		106,873
Orlando	13,634		12,852		40,298		38,141
Raleigh	45,220		42,471		137,051		117,168
Richmond	10,872		12,050		31,837		35,263
Tampa	23,590		23,856		71,169		74,166
Total Office Segment	192,532		178,350		570,443		512,360
Other	14,465		17,145		46,773		52,442
Total Rental and Other Revenues	$	206,997	$	195,495	$	617,216	$	564,802

Net Operating Income:
Office:
Atlanta	$	22,524	$	24,157	$	69,472	$	71,779
Charlotte	14,275		11,159		40,132		25,446
Nashville	33,154		27,355		97,093		78,172
Orlando	7,865		7,920		24,264		23,414
Raleigh	32,822		31,425		101,557		88,005
Richmond	7,112		7,805		21,700		24,092
Tampa	14,351		15,143		44,912		49,640
Total Office Segment	132,103		124,964		399,130		360,548
Other	8,560		9,964		27,961		31,272
Total Net Operating Income	140,663		134,928		427,091		391,820
Reconciliation to net income:
Depreciation and amortization	(73,057)		(66,547)		(212,466)		(189,423)
Impairments of real estate assets	(1,515)		—		(36,515)		—
General and administrative expenses	(9,586)		(10,350)		(32,733)		(30,409)
Interest expense	(26,392)		(21,986)		(75,812)		(60,755)
Other income	138		424		621		1,068
Gains on disposition of property	9,402		38,572		63,546		80,371
Equity in earnings of unconsolidated affiliates	457		546		1,083		1,614
Net income	$	40,110	$	75,587	$	134,815	$	194,286