$PDM
Piedmont Office Realty Trust, Inc.

2018 Q4 Form 10-Q Financial Statement

#000104277618000172 Filed on October 30, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q3
Revenue $137.2M $129.7M $137.6M
YoY Change -1.62% -5.73% -0.65%
Cost Of Revenue $55.20M $49.70M $54.10M
YoY Change -0.36% -8.13% -1.46%
Gross Profit $82.00M $80.00M $83.50M
YoY Change -2.5% -4.19% -0.12%
Gross Profit Margin 59.77% 61.68% 60.69%
Selling, General & Admin $8.200M $6.700M $6.600M
YoY Change 3.8% 1.52% -10.81%
% of Gross Profit 10.0% 8.38% 7.9%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $42.30M $26.85M $30.00M
YoY Change -6.62% -10.49% -5.09%
% of Gross Profit 51.59% 33.57% 35.93%
Operating Expenses $51.50M $98.05M $108.8M
YoY Change -4.28% -9.91% -19.68%
Operating Profit $30.50M $31.66M $28.76M
YoY Change -287.69% 10.1% 862.38%
Interest Expense -$15.70M $15.85M $16.18M
YoY Change 1.29% -2.06% 4.43%
% of Operating Profit -51.48% 50.06% 56.28%
Other Income/Expense, Net $200.0K -$15.55M -$12.14M
YoY Change -50.0% 28.07% -24.38%
Pretax Income $45.40M $16.10M $16.60M
YoY Change -245.05% -3.01% -226.72%
Income Tax
% Of Pretax Income
Net Earnings $45.41M $16.11M $126.1M
YoY Change -244.7% -87.22% -1062.33%
Net Earnings / Revenue 33.1% 12.42% 91.68%
Basic Earnings Per Share $0.35 $0.13
Diluted Earnings Per Share $0.35 $0.13 $113.9K
COMMON SHARES
Basic Shares Outstanding 128.4M shares 128.4M shares 145.4M shares
Diluted Shares Outstanding 128.8M shares 145.7M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.600M $6.800M $36.10M
YoY Change -37.84% -81.16% 501.67%
Cash & Equivalents $4.571M $6.807M $36.11M
Short-Term Investments
Other Short-Term Assets $25.40M $31.50M $28.20M
YoY Change 22.12% 11.7% -1.74%
Inventory $110.6M $113.9M $0.00
Prepaid Expenses
Receivables $173.4M $182.5M $195.4M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $314.0M $334.7M $259.7M
YoY Change -57.92% 28.88% 18.96%
LONG-TERM ASSETS
Property, Plant & Equipment $2.828B $2.857B $3.347B
YoY Change 3.02% -14.65% -6.93%
Goodwill $98.92M $98.92M $98.92M
YoY Change 0.0% 0.0% -45.08%
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00 $0.00
YoY Change -100.0%
Other Assets $272.4M $264.2M $276.1M
YoY Change -17.65% -4.31% -5.99%
Total Long-Term Assets $3.278B $3.289B $3.801B
YoY Change 0.76% -13.46% -8.85%
TOTAL ASSETS
Total Short-Term Assets $314.0M $334.7M $259.7M
Total Long-Term Assets $3.278B $3.289B $3.801B
Total Assets $3.592B $3.624B $4.061B
YoY Change -10.19% -10.76% -7.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $102.5M $109.1M $108.1M
YoY Change -10.79% 0.93% -18.78%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $129.5M $109.1M $108.1M
YoY Change -40.24% 0.93% -18.78%
LONG-TERM LIABILITIES
Long-Term Debt $1.686B $1.715B $1.704B
YoY Change -2.4% 0.69% -14.57%
Other Long-Term Liabilities $65.30M $65.40M $74.90M
YoY Change -6.58% -12.68% -18.68%
Total Long-Term Liabilities $1.751B $1.781B $1.779B
YoY Change -2.56% 0.13% -14.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $129.5M $109.1M $108.1M
Total Long-Term Liabilities $1.751B $1.781B $1.779B
Total Liabilities $1.880B $1.890B $1.887B
YoY Change -6.61% 0.17% -14.99%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $3.684B $3.683B $3.678B
YoY Change 0.15% 0.15% 0.12%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.710B $1.732B $2.172B
YoY Change
Total Liabilities & Shareholders Equity $3.592B $3.624B $4.061B
YoY Change -10.19% -10.76% -7.47%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $45.41M $16.11M $126.1M
YoY Change -244.7% -87.22% -1062.33%
Depreciation, Depletion And Amortization $42.30M $26.85M $30.00M
YoY Change -6.62% -10.49% -5.09%
Cash From Operating Activities $64.60M $55.10M $64.70M
YoY Change -2.71% -14.84% -6.64%
INVESTING ACTIVITIES
Capital Expenditures -$150.8M -$18.50M -$7.100M
YoY Change 203.42% 160.56% -92.19%
Acquisitions
YoY Change
Other Investing Activities $147.3M -$5.600M $353.8M
YoY Change -1403.54% -101.58% -593.44%
Cash From Investing Activities -$3.500M -$24.20M $346.6M
YoY Change -94.25% -106.98% -313.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -63.20M -33.10M -384.9M
YoY Change 85.34% -91.4% -592.2%
NET CHANGE
Cash From Operating Activities 64.60M 55.10M 64.70M
Cash From Investing Activities -3.500M -24.20M 346.6M
Cash From Financing Activities -63.20M -33.10M -384.9M
Net Change In Cash -2.100M -2.200M 26.40M
YoY Change -92.66% -108.33% -274.83%
FREE CASH FLOW
Cash From Operating Activities $64.60M $55.10M $64.70M
Capital Expenditures -$150.8M -$18.50M -$7.100M
Free Cash Flow $215.4M $73.60M $71.80M
YoY Change 85.53% 2.51% -55.18%

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CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
16114000 USD
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
126133000 USD
us-gaap Net Income Loss
NetIncomeLoss
84886000 USD
us-gaap Net Income Loss
NetIncomeLoss
164947000 USD
CY2018Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.13
CY2017Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.87
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
1.13
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
128371062 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
145415678 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
130837223 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
145372182 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
128818658 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
145719431 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
131187127 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
145679582 shares
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
16114000 USD
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
126133000 USD
us-gaap Net Income Loss
NetIncomeLoss
84886000 USD
us-gaap Net Income Loss
NetIncomeLoss
164947000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
1145000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
175000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
4408000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
307000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
434000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-653000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-373000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-2936000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
0 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
25000 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
0 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
53000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
711000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
853000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
4781000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
3296000 USD
CY2018Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
16825000 USD
CY2017Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
126986000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
89667000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
168243000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2097703000 USD
CY2017 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
61750000 USD
CY2017 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
182000 USD
CY2017 pdm Dividends Minority Interest Decrease From Distributions To Noncontrolling Interest Holders And Stock Issued During Period Value Dividend Reinvestment Plan
DividendsMinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHoldersAndStockIssuedDuringPeriodValueDividendReinvestmentPlan
193541000 USD
CY2017 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
4650000 USD
CY2017 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
15000 USD
CY2017 us-gaap Net Income Loss
NetIncomeLoss
133564000 USD
CY2017 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
6060000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1986489000 USD
CY2017Q4 us-gaap Cumulative Effect Of New Accounting Principle In Period Of Adoption
CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption
0 USD
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
264785000 USD
pdm Dividends Minority Interest Decrease From Distributions To Noncontrolling Interest Holders And Stock Issued During Period Value Dividend Reinvestment Plan
DividendsMinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHoldersAndStockIssuedDuringPeriodValueDividendReinvestmentPlan
82279000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
4908000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-4000 USD
us-gaap Net Income Loss
NetIncomeLoss
84886000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
4781000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1733996000 USD
us-gaap Profit Loss
ProfitLoss
84882000 USD
us-gaap Profit Loss
ProfitLoss
164937000 USD
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
10000 USD
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
0 USD
us-gaap Depreciation
Depreciation
81112000 USD
us-gaap Depreciation
Depreciation
90827000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
-215000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
1214000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
42882000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
57146000 USD
pdm Deferred Gain Loss On Settlement Of Interest Rate Derivative And Debt Issuance Costs
DeferredGainLossOnSettlementOfInterestRateDerivativeAndDebtIssuanceCosts
-1665000 USD
pdm Deferred Gain Loss On Settlement Of Interest Rate Derivative And Debt Issuance Costs
DeferredGainLossOnSettlementOfInterestRateDerivativeAndDebtIssuanceCosts
0 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
176380000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
28176000 USD
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
1162000 USD
us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
3200000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
6671000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
6657000 USD
pdm Income Loss From Equity Method Investments Actual Cash Impact
IncomeLossFromEquityMethodInvestmentsActualCashImpact
0 USD
pdm Income Loss From Equity Method Investments Actual Cash Impact
IncomeLossFromEquityMethodInvestmentsActualCashImpact
3872000 USD
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
45186000 USD
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
115951000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
12361000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
15040000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
8496000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
5188000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-10377000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-5863000 USD
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-2265000 USD
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
1513000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
138322000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
0 USD
pdm Paymentsfor Tenant Improvements Capital Improvementsandto Develop Real Estate Assets
PaymentsforTenantImprovementsCapitalImprovementsandtoDevelopRealEstateAssets
44998000 USD
pdm Paymentsfor Tenant Improvements Capital Improvementsandto Develop Real Estate Assets
PaymentsforTenantImprovementsCapitalImprovementsandtoDevelopRealEstateAssets
65407000 USD
us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
-419554000 USD
us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
-375199000 USD
us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
0 USD
us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
12334000 USD
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
0 USD
us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
0 USD
us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
15831000 USD
us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
19419000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
327349000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
301545000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
947000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
101000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
820061000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
147000000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
833005000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
466046000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
97000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2219000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
3385000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
266062000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
3895000 USD
pdm Payments Of Dividends Common Stock Distributions To Noncontrolling Interest And Discount On Dividend Reinvestment
PaymentsOfDividendsCommonStockDistributionsToNoncontrollingInterestAndDiscountOnDividendReinvestment
184073000 USD
pdm Payments Of Dividends Common Stock Distributions To Noncontrolling Interest And Discount On Dividend Reinvestment
PaymentsOfDividendsCommonStockDistributionsToNoncontrollingInterestAndDiscountOnDividendReinvestment
122237000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-466245000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-448761000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-574000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
29164000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8755000 USD
CY2016Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8204000 USD
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8181000 USD
CY2017Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
37368000 USD
pdm Number Of Wholly Owned Management Subsidiaries
NumberOfWhollyOwnedManagementSubsidiaries
2 subsidiary
us-gaap Limited Liability Company Llc Or Limited Partnership Lp Managing Member Or General Partner Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest
0.999
us-gaap Limited Liability Company Llc Or Limited Partnership Lp Members Or Limited Partners Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest
0.001
CY2018Q3 pdm Number Of Redevelopment Assets
NumberOfRedevelopmentAssets
1 asset
CY2018Q3 pdm Operating Leases Income Statement Percentageof Annualized Lease Revenue
OperatingLeasesIncomeStatementPercentageofAnnualizedLeaseRevenue
0.90
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
us-gaap Use Of Estimates
UseOfEstimates
Use of Estimates<div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div>The preparation of the accompanying consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the accompanying consolidated financial statements and notes. Actual results could differ from those estimates.
pdm Tax Cutsand Jobs Actof2017 Incomplete Accounting Changein Tax Rate Deferred Tax Liability Provisional Income Tax Benefit
TaxCutsandJobsActof2017IncompleteAccountingChangeinTaxRateDeferredTaxLiabilityProvisionalIncomeTaxBenefit
200000 USD
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
Reclassifications<div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><span style="font-family:inherit;font-size:10pt;">Certain prior period amounts presented in the accompanying consolidated statements of income have been reclassified to conform to the current period financial statement presentation. These amounts included: (i) the reclassification of approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$4.0 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$14.6 million</span></span><span style="font-family:inherit;font-size:10pt;"> for the </span><span style="font-family:inherit;font-size:10pt;">three and nine months ended</span><span style="font-family:inherit;font-size:10pt;"> </span><span style="font-family:inherit;font-size:10pt;">September 30, 2017</span><span style="font-family:inherit;font-size:10pt;">, respectively, of parking, antennae license and fiber income that was previously included in rental income into other property related income, as well as certain other miscellaneous revenue into tenant reimbursements and/or property management fee revenue in conjunction with the adoption of the Revenue Recognition Amendments, as further defined and described below; and (ii) the reclassification of </span><span style="font-family:inherit;font-size:10pt;"><span>$0.4 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$1.4 million</span></span><span style="font-family:inherit;font-size:10pt;"> for the </span><span style="font-family:inherit;font-size:10pt;">three and nine months ended</span><span style="font-family:inherit;font-size:10pt;"> </span><span style="font-family:inherit;font-size:10pt;">September 30, 2017</span>, respectively, of expense related to certain regional employees who are primarily engaged in the operation and management of properties that was previously included in general and administrative expense to property operating costs.
CY2018Q3 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
101348000 USD
CY2017Q3 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
108868000 USD
CY2018Q3 pdm Tenant Reimbursement
TenantReimbursement
23170000 USD
CY2017Q3 pdm Tenant Reimbursement
TenantReimbursement
24253000 USD
CY2018Q3 us-gaap Revenues
Revenues
129708000 USD
CY2017Q3 us-gaap Revenues
Revenues
137587000 USD
CY2018Q3 pdm Asset Acquisition Numberof Buildings
AssetAcquisitionNumberofBuildings
1 building
CY2018Q3 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0371
CY2018Q3 us-gaap Notes And Loans Payable
NotesAndLoansPayable
1715371000 USD
CY2017Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
1726927000 USD
CY2018Q3 us-gaap Interest Paid
InterestPaid
18000000.0 USD
us-gaap Interest Paid
InterestPaid
48700000 USD
us-gaap Interest Paid
InterestPaid
54000000.0 USD
CY2018Q3 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
375000 USD
CY2017Q3 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
37000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
800000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
200000 USD
us-gaap Maximum Length Of Time Hedged In Cash Flow Hedge1
MaximumLengthOfTimeHedgedInCashFlowHedge1
P78M
CY2018Q3 us-gaap Interest Rate Cash Flow Hedge Asset At Fair Value
InterestRateCashFlowHedgeAssetAtFairValue
4069000 USD
CY2017Q4 us-gaap Interest Rate Cash Flow Hedge Asset At Fair Value
InterestRateCashFlowHedgeAssetAtFairValue
688000 USD
CY2018Q3 us-gaap Interest Rate Cash Flow Hedge Liability At Fair Value
InterestRateCashFlowHedgeLiabilityAtFairValue
0 USD
CY2017Q4 us-gaap Interest Rate Cash Flow Hedge Liability At Fair Value
InterestRateCashFlowHedgeLiabilityAtFairValue
1478000 USD
CY2018Q3 us-gaap Interest Rate Cash Flow Hedge Derivative At Fair Value Net
InterestRateCashFlowHedgeDerivativeAtFairValueNet
4069000 USD
CY2017Q4 us-gaap Interest Rate Cash Flow Hedge Derivative At Fair Value Net
InterestRateCashFlowHedgeDerivativeAtFairValueNet
-790000 USD
CY2018Q3 pdm Noncash Gain Loss On Extinguishment Of Debt
NoncashGainLossOnExtinguishmentOfDebt
0 USD
CY2017Q3 pdm Noncash Gain Loss On Extinguishment Of Debt
NoncashGainLossOnExtinguishmentOfDebt
0 USD
pdm Noncash Gain Loss On Extinguishment Of Debt
NoncashGainLossOnExtinguishmentOfDebt
-1680000 USD
pdm Noncash Gain Loss On Extinguishment Of Debt
NoncashGainLossOnExtinguishmentOfDebt
0 USD
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
400000 USD
CY2018Q3 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
3600000 USD
CY2018Q3 us-gaap Gain Loss On Interest Rate Cash Flow Hedge Ineffectiveness
GainLossOnInterestRateCashFlowHedgeIneffectiveness
0 USD
CY2018Q3 pdm Numberof Tenantand Building Improvement Categories
NumberofTenantandBuildingImprovementCategories
2 category
CY2018Q3 pdm Number Of Real Estate Properties Sold
NumberOfRealEstatePropertiesSold
14 property
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1034995 shares
CY2018Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1700000 USD
CY2017Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1300000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6700000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7000000.0 USD
pdm Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Amortization Of Nonvested Shares
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAmortizationOfNonvestedShares
5600000 USD
pdm Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Amortization Of Nonvested Shares
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAmortizationOfNonvestedShares
5400000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
355055 shares
CY2018Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
5100000 USD
pdm Increase Decrease In Accrued Capital Expenditures And Deferred Lease Costs
IncreaseDecreaseInAccruedCapitalExpendituresAndDeferredLeaseCosts
21784000 USD
pdm Increase Decrease In Accrued Capital Expenditures And Deferred Lease Costs
IncreaseDecreaseInAccruedCapitalExpendituresAndDeferredLeaseCosts
8590000 USD
CY2018Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
101794000 USD
CY2017Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
30531000 USD
pdm Increase Decreasein Accrued Share Repurchases
IncreaseDecreaseinAccruedShareRepurchases
-1277000 USD
pdm Increase Decreasein Accrued Share Repurchases
IncreaseDecreaseinAccruedShareRepurchases
0 USD
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
7382000 USD
pdm Investment In Consolidated Joint Venture Noncash Or Partial Noncash Transaction
InvestmentInConsolidatedJointVentureNoncashOrPartialNoncashTransaction
0 USD
pdm Investment In Consolidated Joint Venture Noncash Or Partial Noncash Transaction
InvestmentInConsolidatedJointVentureNoncashOrPartialNoncashTransaction
63026000 USD
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
6992000 USD
CY2017Q4 us-gaap Restricted Cash
RestrictedCash
1373000 USD
CY2016Q4 us-gaap Restricted Cash
RestrictedCash
1212000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8755000 USD
CY2016Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8204000 USD
CY2018Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
6807000 USD
CY2017Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
36108000 USD
CY2018Q3 us-gaap Restricted Cash
RestrictedCash
1374000 USD
CY2017Q3 us-gaap Restricted Cash
RestrictedCash
1260000 USD
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8181000 USD
CY2017Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
37368000 USD
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
128371000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
145416000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
130837000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
145372000 shares
CY2018Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
448000 shares
CY2017Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
303000 shares
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