Piedmont office realty trust, inc. (PDM)
Income statement / Quarterly
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
Revenues:
Rental and tenant reimbursement revenue

132,154

129,692

130,579

125,468

126,166

131,919

124,518

123,525

124,448

207,865

108,868

118,492

118,039

99,592

113,821

111,767

114,738

115,617

117,994

117,454

117,807

115,915

114,529

113,287

110,904

113,930

115,170

107,951

106,055

98,778

104,948

104,241

103,875

102,063

104,121

103,205

100,322

75,876

102,097

110,049

110,512

Tenant reimbursements

-

-

-

-

-

-

-

-

-

-

24,253

24,285

24,837

24,901

24,163

23,086

22,751

23,405

30,273

28,813

31,390

30,295

29,579

24,745

24,929

27,358

27,329

24,101

25,465

26,114

27,132

26,785

26,513

28,045

28,234

30,640

26,894

18,191

26,983

33,034

35,083

Other rental income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

124

-

13

1,347

3,404

-172

4,230

479

496

Total revenues

137,171

134,153

135,421

130,668

132,936

137,185

129,708

129,174

129,900

139,444

137,587

148,679

148,463

143,911

138,485

135,307

138,012

139,461

148,815

146,734

149,759

146,711

144,641

138,580

136,320

141,505

143,389

132,565

132,151

125,366

132,600

131,652

131,086

125,625

132,478

135,555

131,450

94,843

134,116

144,267

146,844

Expenses:
Property operating costs

53,190

52,582

54,613

52,380

51,805

55,163

49,679

52,637

51,859

55,806

54,518

56,287

55,830

59,358

54,867

52,292

54,279

54,654

61,653

61,479

64,236

61,997

62,027

57,136

58,271

58,264

58,137

52,223

52,155

51,467

50,483

52,548

51,691

50,057

50,707

52,950

48,817

37,547

44,417

55,288

55,361

Depreciation

27,884

26,011

27,131

26,348

26,525

26,844

26,852

27,115

27,145

28,461

30,000

30,059

30,768

32,785

31,610

31,556

31,782

31,033

31,199

36,039

36,232

35,442

35,366

34,144

33,644

31,691

30,295

30,169

28,825

26,956

27,921

27,230

26,852

24,056

25,891

25,702

25,037

19,012

24,317

25,369

25,691

Amortization

23,631

21,000

19,505

18,461

17,700

16,477

14,840

15,245

16,733

17,515

18,123

19,314

20,415

21,271

18,640

17,402

17,806

17,240

14,021

14,955

14,670

14,172

14,235

13,599

14,573

11,195

13,685

11,201

9,009

10,223

15,165

11,316

12,614

14,822

14,808

14,040

10,338

5,713

9,302

10,913

11,387

Impairment loss on real estate assets

-

-

1,953

-

-

-

0

-

-

-

-

-

-

-

22,951

10,950

-

-

34,815

5,354

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

General and administrative

8,643

8,159

7,950

12,418

9,368

8,226

6,677

8,258

6,552

7,451

6,190

7,528

8,150

3,864

7,429

8,316

7,773

7,596

8,260

8,083

6,407

6,311

5,814

7,145

4,555

5,205

5,849

6,279

4,548

5,138

5,508

4,864

5,257

6,387

4,731

7,342

6,612

6,965

6,595

7,948

6,620

Expenses

113,348

114,752

111,152

109,607

105,398

106,710

98,048

103,255

102,289

155,694

108,831

113,188

115,163

117,278

135,497

120,516

111,640

113,655

149,948

125,910

121,545

117,922

117,442

112,024

111,043

106,355

107,966

99,872

94,537

93,784

99,077

95,958

96,414

95,322

96,137

100,034

90,804

69,237

84,631

99,518

99,059

Real estate operating income

-

-

-

-

-

-

-

-

-

-

28,756

35,491

33,300

26,633

2,988

14,791

26,372

25,806

-1,133

20,824

28,214

28,789

27,199

26,556

25,277

35,150

35,423

32,693

37,614

31,582

33,523

35,694

34,672

30,303

36,341

35,521

40,646

25,606

49,485

44,749

47,785

Other income (expense):
Interest expense

15,264

14,844

16,145

15,112

15,493

15,729

15,849

15,687

13,758

15,463

16,183

18,421

18,057

16,566

15,496

16,413

16,385

17,978

18,832

18,172

19,016

18,854

18,654

18,012

18,926

19,651

19,331

18,228

16,373

16,296

16,247

15,943

16,537

16,179

16,236

17,762

15,640

12,685

15,777

18,933

19,091

Other income

149

279

263

752

277

158

303

731

446

429

290

38

-100

454

-720

-41

294

347

803

596

-181

-6

524

-366

-90

-391

-596

-72

-1,277

68

383

285

97

-

-

-

-

-

-

-

-17,385

Gain on sale of real estate assets

3

-

-

-

37,887

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net recoveries from casualty events

-

-

-

-

-

-

-

-

-

-

-

-

-

-

34

-

0

-

0

-

-

11,506

8

-1,480

-3,042

-4,500

-3,919

-3,553

161

12,670

0

0

0

-

-

-

-

-

-

-

-

Interest and other income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-91

-238

3,459

488

993

1,036

969

Litigation settlement recovery/(expense)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-7,500

0

-

-

0

-

-

-

-

-

-

Equity in income of unconsolidated joint ventures

-

-

-

-

-

-

-

-

-

-27

3,754

107

11

8

129

110

115

135

135

124

159

160

89

-333

-266

-4,280

46

163

395

184

323

246

170

587

485

338

209

630

619

647

737

Loss on extinguishment of debt

-

-

0

0

-

0

0

0

-1,680

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income

-

-

-

-

-

-

-

-

-

-

-

-

15,101

-

-13,065

-1,553

-

-

-19,027

3,372

-

12,567

9,150

9,325

9,037

15,328

18,563

18,109

20,198

10,368

10,482

20,282

18,402

15,486

20,499

17,471

30,594

14,039

35,320

27,499

30,400

Discontinued operations:
Operating income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

-1

-

-

16

-3

-

-42

16

514

466

506

537

995

859

4,080

607

422

999

7,637

3,775

3,560

3,377

15,238

5,268

1,849

1,185

Impairment loss on real estate assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,242

0

0

6,402

0

0

0

0

-

-

-

-

-

0

9,587

-

Loss on sale of real estate assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2

-

-

-936

0

1,304

-106

15,034

0

16,258

0

-7

-254

10,008

17,830

95,901

26,756

0

0

-

0

-

-

Income from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

-1

-

-

14

-3

-

-978

16

1,818

360

14,298

537

17,253

-5,543

4,073

353

10,430

18,829

103,538

30,531

3,560

3,377

14,421

5,268

-7,738

1,185

Gain on sale of real estate assets, net

-

-

32

1,451

-

30,505

0

-23

45,209

-77

109,512

6,492

-53

19,652

-57

73,835

-20

75,857

17,142

26,611

10,073

-270

0

1,140

0

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Nonoperating income (expense)

-15,112

-

-15,850

-

22,671

-

-15,546

-

-

-

-

-

-

-

-16,053

-16,344

-

-

-17,894

-17,452

-

-16,222

-18,049

-17,231

-16,240

-19,822

-16,860

-14,584

-17,416

-21,214

-23,041

-15,412

-16,270

-14,817

-15,842

-18,050

-10,052

-

-14,165

-17,250

-

Loss on consolidation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-898

-

-

-

0

-

-

0

0

-388

1,920

-

0

0

-

Net income

8,711

162,476

8,419

8,152

50,209

45,409

16,114

10,940

57,828

-

126,129

23,707

-

30,181

-13,121

72,281

10,376

83,961

-1,871

29,980

19,249

11,319

9,166

12,283

9,397

29,626

19,100

35,362

14,655

14,441

10,835

30,712

37,231

119,024

51,030

21,031

33,971

28,460

40,588

19,761

31,585

Net income applicable to noncontrolling interest

2

-2

-3

-1

1

-1

0

-2

-2

-5

-4

-3

-3

-8

-14

3

4

3

4

4

4

3

4

4

4

3

4

4

4

3

4

4

4

3

4

4

4

-239

4

125

125

Net income applicable to Piedmont

8,709

162,478

8,422

8,153

50,208

45,410

16,114

10,942

57,830

-31,383

126,133

23,710

15,104

30,189

-13,107

72,278

10,372

83,958

-1,875

29,976

19,245

11,316

9,162

12,279

9,393

29,623

19,096

35,358

14,651

14,438

10,831

30,708

37,227

119,021

51,026

21,027

33,967

28,699

40,584

19,636

31,460

Per share information – basic:
Income from continuing operations (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.12

0.10

0.18

-

0.21

-

-

Income from discontinued operations (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.18

0.02

0.02

-

0.03

-

-

Net income applicable to common stockholders (in dollars per share)

0.07

-

0.07

0.06

0.40

-

0.13

0.09

0.43

-

-

-

0.10

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.30

0.12

0.20

-

0.24

-

-

Per share information— basic and diluted:
Income from continuing operations and gain on sale of real estate assets (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-0.09

0.50

-

-

-0.01

0.20

-

0.07

0.06

0.07

0.06

0.10

0.11

0.11

0.12

0.06

0.06

0.12

0.11

-

-

-

-

-

-

0.16

0.18

Income from discontinued operations (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

-

-

-

-

-

0.00

0.00

0.01

0.00

0.00

0.01

0.10

-0.03

0.00

0.00

0.06

0.11

-

-

-

-

-

-

-0.05

0.01

Income attributable to noncontrolling interest (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

Net income available to common stockholders (in dollars per share)

-

-

-

-

-

-

-

-

-

-

0.87

0.16

-

0.21

-0.09

0.50

0.07

0.56

-0.01

0.20

0.12

0.07

0.06

0.08

0.06

0.18

0.12

0.21

0.09

0.09

0.06

0.18

0.22

-

-

-

-

-

-

0.11

0.19

Per share information – diluted:
Income from continuing operations (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.12

0.10

0.18

-

0.20

-

-

Income from discontinued operations (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.17

0.02

0.02

-

0.03

-

-

Net income applicable to common stockholders (in dollars per share)

0.07

-

0.07

0.06

0.40

-

0.13

0.09

0.42

-

-

-

0.10

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.29

0.12

0.20

-

0.23

-

-

Weighted-average common shares outstanding – basic (in shares)

125,862

125,786

125,783

125,693

125,574

128,050

128,371

128,346

135,877

144,060

145,416

145,412

145,286

145,233

145,231

145,178

145,276

145,397

148,855

153,559

154,339

154,315

154,325

154,318

154,849

160,226

164,683

167,585

167,555

167,736

168,805

172,077

172,629

172,793

172,826

172,780

172,658

172,763

172,658

172,595

164,992

Weighted-average common shares outstanding – diluted (in shares)

126,360

125,816

126,240

126,491

126,181

128,841

128,819

128,701

136,183

144,154

145,719

145,813

145,833

145,380

145,669

145,698

145,791

146,006

149,176

153,757

154,580

154,310

154,561

154,444

155,024

160,229

164,796

167,714

167,810

167,752

168,929

172,209

172,873

172,937

173,045

172,985

172,954

173,065

172,885

172,718

165,200

Net income applicable to common stockholders (in dollars per share)

0.07

-

0.07

0.06

0.40

-

0.13

0.09

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Property management fee revenue
Property management and other property related revenue

773

579

405

422

1,992

391

368

382

309

356

454

400

525

436

501

454

523

439

548

467

562

501

533

548

487

217

890

513

631

598

520

626

574

281

110

363

830

948

806

705

753

Other property related income
Property management and other property related revenue

4,244

3,882

4,437

4,778

4,778

4,875

4,822

5,267

5,143

4,598

4,012

5,502

5,062

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-