Piedmont office realty trust, inc. (PDM)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10
Cash Flows from Operating Activities:
Net income

187,758

229,256

112,189

119,884

122,672

130,291

53,494

163,509

176,276

133,549

195,118

55,868

104,442

99,717

153,497

164,747

122,446

131,319

58,677

69,714

52,017

42,165

60,472

70,406

93,485

98,743

83,558

75,293

70,643

93,219

197,802

237,997

228,316

225,056

134,735

124,049

122,780

120,394

0

0

0

Operating distributions received from unconsolidated joint ventures

-

-

-

-

-

-

-

-

-

-

-

-

-

579

788

795

846

774

565

368

137

266

266

820

1,278

1,475

2,008

2,023

2,013

2,338

2,448

2,415

2,562

2,932

3,373

3,932

4,538

4,463

0

0

0

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

453

0

0

0

-

-

-

-

Depreciation

107,374

106,015

106,848

106,569

107,336

107,956

109,573

112,721

115,665

119,288

123,612

125,222

126,719

127,733

125,981

125,570

130,053

134,503

138,912

143,079

141,184

138,679

135,427

130,988

127,609

123,566

120,926

118,652

115,728

113,650

111,170

110,408

110,314

109,730

109,346

107,465

157,592

104,490

0

0

0

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

193

87

384

218

51

-250

159

571

978

1,588

1,652

1,670

1,686

1,702

1,751

1,744

1,806

1,768

1,560

1,397

1,191

1,578

1,988

2,423

2,800

2,620

2,523

2,499

2,439

2,648

2,707

3,483

4,973

4,777

4,738

3,902

2,519

2,608

0

0

0

Other amortization

76,700

71,609

67,505

62,919

58,773

58,330

59,680

63,971

69,799

73,944

78,194

78,495

76,817

74,373

70,455

66,243

64,100

61,221

58,411

58,568

56,787

56,327

53,164

51,796

49,321

43,939

41,366

43,693

43,958

47,479

52,267

52,917

57,235

56,688

54,710

48,858

44,186

43,358

0

0

0

Impairment loss on real estate assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,644

6,402

6,402

6,402

0

0

0

0

-

-

-

-

-

-

-

-

Loss on extinguishment of debt

-

-

-

-

-

-1,665

-1,665

-1,665

-1,665

0

0

0

0

-

-

-

-

-

-

-

-

-14,960

-14,960

-14,960

-15,632

-672

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Accretion of discount on notes receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

482

954

1,522

2,215

2,400

0

0

0

Stock compensation expense

15,506

15,446

15,431

14,564

12,547

9,737

9,210

8,797

7,324

9,196

6,955

7,678

8,356

7,928

9,727

10,371

10,357

8,789

8,896

7,414

5,515

5,250

3,147

2,727

1,632

1,590

2,243

2,393

2,506

2,246

3,222

3,464

4,071

4,705

4,198

4,181

3,996

3,681

0

0

0

Equity in income of unconsolidated joint ventures

-

-

-

-

-

-

-

-

-

3,845

3,880

255

258

362

489

495

509

553

578

532

75

-350

-4,790

-4,833

-4,337

-3,676

787

1,065

1,148

923

1,317

1,478

1,570

1,609

1,662

1,796

2,105

2,633

0

0

0

Gain on sale of real estate assets

159,126

197,010

69,875

69,843

68,369

75,691

45,109

154,621

161,136

115,874

135,603

26,034

93,377

93,410

149,617

166,814

119,590

129,683

52,618

35,478

11,311

1,132

17,372

17,372

31,186

31,292

16,252

15,997

9,745

27,577

123,484

150,495

140,489

122,657

0

0

0

-

-

-

-

Gain on consolidation of variable interest entity

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

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

21,384

15,706

14,393

17,803

15,379

16,094

18,713

15,288

20,397

21,392

24,394

31,030

27,659

26,747

23,875

21,826

23,375

29,478

34,224

42,716

50,368

40,505

34,121

27,384

20,787

29,101

30,619

29,418

28,189

21,720

18,963

17,883

17,820

13,295

13,676

9,776

4,382

5,564

0

0

0

(Increase)/decrease in restricted cash and escrows

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

699

-

20,354

284

326

135

123

119

26

60

-22,467

-47,654

-24,783

-8,705

-20,699

16,933

-6,113

-18,720

19,791

10,352

13,229

11,818

0

0

0

Increase in prepaid expenses and other assets

508

-309

-3,443

4,287

3,500

3,095

2,924

-840

-613

-384

322

726

-3,201

-1,437

-976

1,114

2,495

1,440

-2,859

-107

-2,620

1,884

6,626

5,659

6,723

3,427

7,891

11,271

1,349

3,837

1,198

-5,258

4,404

2,727

-2,172

1,460

652

1,958

0

0

0

Cash received upon settlement of interest rate swaps

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Decrease in accounts payable and accrued expenses

-3,752

-11,251

-1,211

-675

-816

-9,092

-6,035

-9,722

-7,229

-1,521

-2,615

7,869

-228

3,555

8,429

-185

-2,313

-162

-10,906

-5,371

-7,729

2,995

-2,108

5,135

4,338

-6,434

10,260

618

3,465

8,486

1,205

4,280

5,575

3,511

6,361

-3,378

9,713

12,058

0

0

0

Increase/(decrease) in deferred income

3,323

776

2,516

824

-2,715

-898

-2,762

-1,695

-1,182

1,016

925

3,175

2,872

1,441

3,023

-2,484

1,690

4,613

3,818

4,414

2,748

-277

-4,928

2,973

-743

570

2,464

-4,974

-8,445

-5,769

-12,095

-12,185

-11,088

-16,134

-5,929

-6,316

-4,213

697

0

0

0

Net cash provided by operating activities

215,037

208,484

224,790

211,563

209,803

202,869

204,747

214,310

225,821

242,805

236,191

240,843

232,433

231,847

261,463

229,945

229,590

223,688

193,903

204,750

190,911

217,158

208,699

237,188

243,107

215,079

242,218

239,154

225,041

220,925

233,509

220,425

243,469

267,095

248,089

255,277

272,941

275,750

0

0

0

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

723,746

326,200

449,882

218,319

123,067

151,914

63,438

63,438

63,409

35,262

0

0

0

-

-

-

-

387,923

83,464

133,423

158,572

117,418

225,985

147,863

119,083

366,182

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Capitalized expenditures

120,436

103,553

84,475

77,908

74,780

72,105

59,422

47,987

64,388

79,831

87,244

114,126

111,894

110,228

125,145

110,506

105,404

118,671

128,004

162,542

181,508

168,891

186,306

160,590

169,061

175,988

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net sales proceeds from wholly-owned properties

0

-

0

0

0

-

0

0

-790,660

-

-436,215

-187,251

-320,454

-365,918

391,703

558,554

776,966

848,169

151,556

87,917

49,713

46,232

92,585

92,585

114,590

95,671

68,320

93,920

72,403

93,839

298,589

341,030

316,624

291,785

0

0

0

-

-

-

-

Redemption of noncontrolling interest in unconsolidated variable interest entity

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,000

4,000

4,000

4,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

248,091

171,560

133,457

114,147

0

0

0

Cash assumed upon consolidation of variable interest entity

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,063

0

0

0

-

-

-

-

Investments in unconsolidated joint ventures

-

-

-

-

-

-

-

-

-

1,162

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Note receivable issuance

-

-

-

-

-

3,200

3,200

3,200

3,200

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investments in unconsolidated joint ventures

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

793

929

913

808

136

0

-7

25

151

0

0

0

-

-

-

-

Deferred lease costs paid

43,075

25,639

28,231

22,569

26,979

27,430

27,397

31,641

29,311

30,985

29,970

29,193

27,306

25,896

29,139

33,271

36,129

37,683

30,851

27,002

27,928

27,694

31,133

32,488

30,581

34,298

33,270

46,636

50,715

48,692

58,959

42,136

40,542

47,049

34,585

31,647

32,998

17,700

0

0

0

Net cash (used in)/provided by investing activities

-465,893

134,375

-222,740

8,416

106,864

323,778

266,416

637,242

641,808

240,612

213,253

-296,020

-168,698

-119,874

302,528

465,419

379,864

299,892

-99,913

-244,200

-321,470

-266,946

-344,864

-256,639

-218,498

-495,832

-376,785

-358,734

-356,145

-63,476

124,812

126,818

79,439

36,980

-155,005

-146,320

-104,023

-80,194

0

0

0

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

261

151

184

880

975

1,040

978

278

170

132

153

228

228

264

245

389

938

1,081

1,230

1,108

1,082

1,294

2,557

2,565

5,299

4,892

3,581

6,456

3,160

3,125

4,957

3,296

3,379

3,367

1,442

139

709

710

0

0

0

Proceeds from debt

1,269,625

592,000

707,001

456,837

375,837

977,062

853,061

806,225

796,225

180,000

290,000

631,000

617,000

695,000

648,001

458,001

1,222,283

1,301,858

1,278,820

1,260,820

545,538

1,052,527

1,232,565

1,237,564

1,556,168

1,085,604

0

0

0

-

-

-

863,000

829,000

0

0

0

-

-

-

-

Repayments of debt

903,905

798,019

545,491

517,397

501,385

1,020,455

843,360

1,141,428

1,175,415

476,401

583,389

464,972

556,958

706,875

1,077,931

889,322

1,540,309

1,544,301

1,085,284

1,047,208

285,956

813,702

858,320

877,070

1,226,000

500,000

489,500

653,000

307,000

465,000

832,375

737,875

991,875

822,875

417,000

324,000

25,000

139,000

0

0

0

Discount paid due to loan modification

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Costs of issuance of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

342

239

42

278

326

326

326

90

0

0

0

0

-

-

-

-

229

481

481

481

252

11

-252

-307

185,774

0

0

0

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

3,836

3,295

3,295

3,301

2,537

2,219

2,237

2,236

3,012

3,403

3,401

3,441

2,931

2,344

2,373

2,339

2,075

1,710

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchases of common stock as part of announced plan

0

16,899

49,375

49,375

82,273

298,538

322,641

326,536

293,638

60,474

3,895

0

0

7,943

11,150

126,889

166,803

158,860

155,770

40,031

287

54,802

116,611

213,392

228,055

173,551

119,945

64,416

88,461

88,450

0

0

0

-

-

-

-

-

-

-

-

Dividends paid and discount on dividend reinvestments

105,912

106,433

106,439

106,909

107,384

184,093

184,110

187,718

191,305

122,274

122,244

122,205

122,163

91,616

122,230

122,778

124,587

126,531

128,373

128,199

126,770

125,198

124,934

126,956

129,636

132,301

133,710

134,497

135,379

136,378

157,499

180,004

200,401

220,365

0

0

0

-

-

-

0

Redemption of fractional shares of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Net cash provided by/(used in) financing activities

254,476

-333,507

1,873

-221,110

-318,802

-529,368

-500,350

-852,079

-867,497

-482,866

-423,282

39,780

-65,580

-114,384

-566,167

-683,758

-612,707

-530,951

-95,103

39,884

128,767

55,121

129,008

17,514

-32,913

274,769

129,776

103,211

120,000

-284,182

-353,686

-341,778

-336,380

-221,103

-144,495

-168,619

-203,761

-148,842

0

0

0

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

3,620

9,352

3,923

-1,131

-2,135

-2,721

-29,187

-527

132

551

26,162

-15,397

-1,845

-2,411

-2,176

11,606

-3,253

-7,371

-1,113

434

-1,792

5,333

-7,157

-1,937

-8,304

-5,984

-4,791

-16,369

-11,104

-126,733

4,635

5,465

-13,472

82,972

-51,411

-59,662

-34,843

46,714

0

0

0

Change in accrued share repurchases as part of an announced plan

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Accrued capital expenditures and deferred lease costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

Accrued deferred financing costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Change in accrued offering costs related to issuance of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

Change in accrued offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Net assets assumed upon consolidation of variable interest entity, net of notes receivable previously recorded

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

Liabilities assumed upon consolidation of variable interest entity

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

Redeemable common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0