XML 40 R22.htm IDEA: XBRL DOCUMENT v3.19.2
Segment Information
6 Months Ended
Jun. 30, 2019
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.
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2019
 
2018
 
2019
 
2018
Rental and Other Revenues:
 
 
 
 
 
 
 
Office:
 
 
 
 
 
 
 
Atlanta
$
37,692

 
$
34,777

 
$
73,995

 
$
70,260

Greensboro
5,606

 
5,378

 
11,087

 
11,404

Memphis
9,945

 
9,899

 
19,702

 
20,107

Nashville
33,109

 
30,669

 
64,508

 
61,392

Orlando
12,995

 
13,451

 
26,927

 
26,751

Pittsburgh
14,994

 
15,323

 
30,309

 
30,605

Raleigh
30,673

 
29,282

 
59,770

 
59,086

Richmond
12,341

 
10,893

 
24,627

 
21,942

Tampa
23,497

 
25,841

 
39,068

 
51,266

Total Office Segment
180,852

 
175,513

 
349,993

 
352,813

Other
3,218

 
3,279

 
6,440

 
6,417

Total Rental and Other Revenues
$
184,070

 
$
178,792

 
$
356,433

 
$
359,230


Net Operating Income:
 
 
 
 
 
 
 
Office:
 
 
 
 
 
 
 
Atlanta
$
24,819

 
$
21,608

 
$
48,242

 
$
44,278

Greensboro
3,708

 
3,434

 
7,215

 
7,445

Memphis
6,210

 
6,173

 
12,232

 
12,818

Nashville
24,208

 
22,427

 
46,526

 
44,410

Orlando
8,007

 
8,093

 
16,563

 
16,356

Pittsburgh
8,895

 
9,249

 
18,029

 
18,220

Raleigh
22,438

 
21,494

 
43,297

 
43,366

Richmond
8,610

 
7,659

 
17,162

 
15,240

Tampa
14,291

 
16,500

 
21,376

 
33,260

Total Office Segment
121,186

 
116,637

 
230,642

 
235,393

Other
2,326

 
2,492

 
4,682

 
4,742

Total Net Operating Income
123,512

 
119,129

 
235,324

 
240,135

Reconciliation to net income:
 
 
 
 
 
 
 
Depreciation and amortization
(59,460
)
 
(56,694
)
 
(128,664
)
 
(114,262
)
Impairments of real estate assets
(531
)
 

 
(531
)
 

General and administrative expenses
(9,560
)
 
(9,540
)
 
(21,941
)
 
(21,318
)
Interest expense
(20,356
)
 
(17,877
)
 
(39,095
)
 
(36,268
)
Other income/(loss)
321

 
462

 
(3,445
)
 
917

Gains on disposition of property
6,703

 
16,972

 
6,703

 
16,972

Equity in earnings of unconsolidated affiliates
765

 
546

 
1,429

 
1,068

Net income
$
41,394

 
$
52,998

 
$
49,780

 
$
87,244