Segment Information (Tables)

3 Months Ended

Mar. 31, 2023

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 our office properties. Our segment information for the three months ended March 31, 2022 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 March 31,
		2023		2022
Rental and Other Revenues:

Atlanta		$	36,870	$	35,554
Charlotte		21,580		16,944
Nashville		44,564		43,447
Orlando		14,394		13,312

Raleigh		45,878		46,296
Richmond		9,309		10,533
Tampa		25,391		24,023
Total Office Segment		197,986		190,109
Other		14,766		16,269
Total Rental and Other Revenues		$	212,752	$	206,378

Reconciliation of Operating Profit (Loss) from Segments to Consolidated


Net Operating Income:

Atlanta	$	24,225	$	23,681
Charlotte	16,110		13,050
Nashville	33,025		32,522
Orlando	8,772		8,137

Raleigh	33,606		34,715
Richmond	6,570		7,225
Tampa	16,404		15,946
Total Office Segment	138,712		135,276
Other	8,309		9,680
Total Net Operating Income	147,021		144,956
Reconciliation to net income:
Depreciation and amortization	(70,633)		(69,667)

General and administrative expenses	(12,415)		(13,556)
Interest expense	(33,098)		(24,393)
Other income	1,147		363
Gains on disposition of property	450		4,100
Gain on deconsolidation of affiliate	11,778		—
Equity in earnings of unconsolidated affiliates	704		300
Net income	$	44,954	$	42,103