Segment Information

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Segment Information

Segment Information

Our principal business is the operation, acquisition and development of rental real estate properties. We evaluate our business by geographic location. The operating results by geographic grouping are regularly reviewed by our chief operating decision maker for assessing performance and other purposes. There are no material inter-segment transactions.

Our accounting policies of the segments are the same as those used in our Consolidated Financial Statements. All operations are within the United States.

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 as of December 31, 2019 and for the years ended December 31, 2019 and 2018 have been retrospectively revised from previously reported amounts to reflect a change in our reportable segments as a result of recent dispositions.

	Year Ended December 31,
	2020		2019		2018
Rental and Other Revenues:
Office:
Atlanta	$	146,704	$	151,279	$	141,337
Charlotte	35,733		4,650		—
Nashville	138,089		133,867		121,836
Orlando	49,459		52,679		53,771
Pittsburgh	58,518		60,755		61,177
Raleigh	128,189		122,173		118,352
Richmond	48,079		49,428		45,729
Tampa	99,520		86,431		102,404
Total Office Segment	704,291		661,262		644,606
Other	32,609		74,717		75,429
Total Rental and Other Revenues	$	736,900	$	735,979	$	720,035

Net Operating Income:
Office:
Atlanta	$	95,448	$	97,019	$	87,503
Charlotte	28,431		3,791		—
Nashville	99,901		97,386		88,554
Orlando	29,546		32,062		32,841
Pittsburgh	35,631		36,249		36,233
Raleigh	95,926		88,402		86,053
Richmond	33,667		33,756		31,276
Tampa	67,059		50,339		65,819
Total Office Segment	485,609		439,004		428,279
Other	19,466		48,464		49,341
Total Net Operating Income	505,075		487,468		477,620
Reconciliation to net income:
Depreciation and amortization	(241,585)		(254,504)		(229,955)
Impairments of real estate assets	(1,778)		(5,849)		(423)
General and administrative expenses	(41,031)		(44,067)		(40,006)
Interest expense	(80,962)		(81,648)		(71,422)
Other income/(loss)	(1,707)		(2,510)		1,940
Gains on disposition of property	215,897		39,517		37,638
Equity in earnings of unconsolidated affiliates	4,005		3,276		2,238
Net income	$	357,914	$	141,683	$	177,630

	December 31,
	2020		2019
Total Assets:
Office:
Atlanta	$	1,011,807	$	1,040,869
Charlotte	443,051		425,045
Nashville	1,191,219		1,045,125
Orlando	289,129		289,743
Pittsburgh	313,783		323,792
Raleigh	839,831		830,128
Richmond	240,976		246,546
Tampa	556,951		521,620
Total Office Segment	4,886,747		4,722,868
Other	322,670		415,376
Total Assets	$	5,209,417	$	5,138,244