Piedmont office realty trust, inc. (PDM)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Cash Flows from Operating Activities:
Net income

229,256

130,291

133,549

99,717

131,319

42,165

98,743

93,219

225,056

120,394

74,715

Operating distributions received from unconsolidated joint ventures

0

10

11

579

774

266

1,475

2,338

2,932

4,463

4,445

Adjustments to reconcile net income to net cash provided by operating activities:
Income attributable to noncontrolling interest- discontinued operations

-

-

-

-

-

-

-

-

453

516

463

Depreciation

106,015

107,956

119,288

127,733

134,503

138,679

123,566

113,650

109,730

104,490

106,073

Amortization of debt issuance costs net of favorable settlement of interest rate swaps

87

-250

1,588

1,702

1,768

1,578

2,620

2,648

4,777

2,608

2,786

Other amortization

71,609

58,330

73,944

74,373

61,221

56,327

43,939

47,479

56,688

43,358

56,112

Impairment loss on real estate assets

8,953

0

46,461

33,901

43,301

0

7,644

0

0

7,041

35,063

Loss on extinguishment of debt

0

-1,665

0

0

1,284

-14,960

-672

0

0

-

-

Gain on extinguishment of debt

-

-

-

-

-

-

-

-

1,041

0

0

Accretion of discount on notes receivable

-

-

-

-

-

-

-

-

482

2,400

2,272

Stock compensation expense

15,446

9,737

9,196

7,928

8,789

5,250

1,590

2,246

4,705

3,681

2,878

Reduction of long-lived assets due to casualty event

-

-

-

-

-

-

-

1,980

0

0

-

Equity in income of unconsolidated joint ventures

0

0

3,845

362

553

-350

-3,676

923

1,609

2,633

104

Gain on sale of real estate assets

197,010

75,691

115,874

93,410

129,683

1,132

31,292

27,577

122,657

-817

0

Loss on consolidation

-

-

-

-

-

-

-898

0

1,532

-

-

Retirement of shares returned from escrow

-

-

-

-

-

1,479

0

0

-

-

-

Gain on consolidation of variable interest entity

-

-

-

-

-

-

-

-

-

0

0

Changes in assets and liabilities:
Increase in tenant and straight-line rent receivables

15,706

16,094

21,392

26,747

29,478

40,505

29,101

21,720

13,295

5,564

1,668

(Increase)/decrease in restricted cash and escrows

-

-

-

-

-

135

60

-8,705

-18,720

11,818

10,966

Increase in prepaid expenses and other assets

-309

3,095

-384

-1,437

1,440

1,884

3,427

3,837

2,727

1,958

175

Decrease in accounts payable and accrued expenses

-11,251

-9,092

-1,521

3,555

-162

2,995

-6,434

8,486

3,511

12,058

4,607

Increase/(decrease) in deferred income

776

-898

1,016

1,441

4,613

-277

570

-5,769

-16,134

697

9,586

Net cash provided by operating activities

208,484

202,869

242,805

231,847

223,688

217,158

215,079

220,925

267,095

275,750

281,543

Cash Flows from Investing Activities:
(Acquisition of real estate assets and intangibles)/return of escrowed purchase price

326,200

151,914

35,262

349,668

387,923

117,418

366,182

4,225

161,576

-

-

Net cash held in escrow for acquisitions

-

-

-

-

-

5,150

0

0

-

-

-

Capitalized expenditures

103,553

72,105

79,831

110,228

118,671

168,891

175,988

104,262

54,033

-

-

Net sale proceeds from wholly-owned properties

589,767

575,227

375,518

-

-

-

-

-

-

-

-

Net sales proceeds from wholly-owned properties

-

-

-

-365,918

848,169

46,232

95,671

93,839

291,785

51,637

0

Acquisition of unconsolidated joint ventures, net of cash assumed

-

-

-

-

-

-

14,242

0

0

-

-

Redemption of noncontrolling interest in unconsolidated variable interest entity

-

-

-

-

4,000

0

0

-

-

-

-

Investment in real estate assets and real estate related intangibles, net of accruals

-

-

-

-

-

-

-

-

-

114,147

37,454

Cash assumed upon consolidation of variable interest entity

-

-

-

-

-

-

-

-

5,063

0

0

Investment in mezzanine debt

-

-

-

-

-

-

-

-

-

-

10,000

Net sale proceeds received from unconsolidated joint ventures

0

0

12,334

0

0

6,017

0

0

3,036

189

0

Investments in unconsolidated joint ventures

0

0

1,162

0

-

-

-

-

-

-

-

Note receivable issuance

0

3,200

0

0

-

-

-

-

-

-

-

Note receivable payment

0

3,200

0

0

-

-

-

-

-

-

-

Investments in unconsolidated joint ventures

-

-

-

-

0

42

793

136

151

173

57

Liquidation of noncontrolling interest upon sale of consolidated joint venture

-

-

-

-

-

-

-

-

95

0

0

Deferred lease costs paid

25,639

27,430

30,985

25,896

37,683

27,694

34,298

48,692

47,049

17,700

21,155

Net cash (used in)/provided by investing activities

134,375

323,778

240,612

-119,874

299,892

-266,946

-495,832

-63,476

36,980

-80,194

-68,666

Cash Flows from Financing Activities:
Debt issuance and other costs paid

151

1,040

132

264

1,081

1,294

4,892

3,125

3,367

710

93

Proceeds from debt

592,000

977,062

180,000

695,000

1,301,858

1,052,527

1,085,604

409,000

829,000

25,000

181,000

Repayments of debt

798,019

1,020,455

476,401

706,875

1,544,301

813,702

500,000

465,000

822,875

139,000

188,100

Discount paid due to loan modification

-

-

-

-

-

1,135

0

0

-

-

-

Costs of issuance of common stock

710

85

182

342

326

0

91

229

252

185,774

90,581

Value of shares withheld for payment of taxes related to employee stock compensation

3,295

2,219

3,403

2,344

1,710

1,275

-

-

-

-

-

Repurchases of common stock as part of announced plan

16,899

298,538

60,474

7,943

158,860

54,802

173,551

88,450

3,244

0

0

Redemptions of common stock

-

-

-

-

-

-

-

-

-

2,918

107,643

Dividends paid and discount on dividend reinvestments

106,433

184,093

122,274

91,616

126,531

125,198

132,301

136,378

220,365

216,988

198,951

Net cash provided by/(used in) financing activities

-333,507

-529,368

-482,866

-114,384

-530,951

55,121

274,769

-284,182

-221,103

-148,842

-223,206

Net increase/(decrease) in cash, cash equivalents, and restricted cash and escrows

9,352

-2,721

551

-2,411

-7,371

5,333

-5,984

-126,733

82,972

46,714

-10,329