2020 Q4 Form 10-Q Financial Statement

#000104277620000204 Filed on October 29, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q3
Revenue $131.5M $131.7M $135.4M
YoY Change -1.96% -2.75% 4.4%
Cost Of Revenue $55.30M $53.30M $54.60M
YoY Change 5.13% -2.38% 9.86%
Gross Profit $76.20M $78.40M $80.80M
YoY Change -6.62% -2.97% 1.0%
Gross Profit Margin 57.93% 59.53% 59.67%
Selling, General & Admin $7.400M $5.500M $8.000M
YoY Change -9.76% -31.25% 19.4%
% of Gross Profit 9.71% 7.02% 9.9%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $47.70M $28.26M $27.13M
YoY Change 4.84% 4.14% 1.04%
% of Gross Profit 62.6% 36.04% 33.58%
Operating Expenses $57.00M $56.70M $111.2M
YoY Change 3.26% -48.99% 13.36%
Operating Profit $19.20M $21.70M -$30.35M
YoY Change -27.27% -171.49% -195.87%
Interest Expense -$13.00M $12.73M $16.15M
YoY Change -12.16% -21.18% 1.87%
% of Operating Profit -67.71% 58.64%
Other Income/Expense, Net $1.800M -$12.75M -$15.85M
YoY Change 500.0% -19.58% 1.96%
Pretax Income $22.60M $8.900M $8.400M
YoY Change -86.09% 5.95% -47.83%
Income Tax
% Of Pretax Income
Net Earnings $22.61M $8.943M $8.422M
YoY Change -86.08% 6.19% -47.73%
Net Earnings / Revenue 17.19% 6.79% 6.22%
Basic Earnings Per Share $0.18 $0.07 $0.07
Diluted Earnings Per Share $0.18 $0.07 $0.07
COMMON SHARES
Basic Shares Outstanding 126.0M shares 126.0M shares 125.8M shares
Diluted Shares Outstanding 126.4M shares 126.2M shares

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.300M $24.00M $10.30M
YoY Change -45.93% 133.01% 51.47%
Cash & Equivalents $7.331M $23.96M $10.28M
Short-Term Investments
Other Short-Term Assets $23.30M $28.10M $27.10M
YoY Change -8.27% 3.69% -13.97%
Inventory $0.00 $0.00
Prepaid Expenses
Receivables $159.6M $165.9M $157.3M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $190.2M $218.0M $194.7M
YoY Change -4.04% 11.97% -41.83%
LONG-TERM ASSETS
Property, Plant & Equipment $2.965B $3.042B $3.061B
YoY Change 3.63% -0.59% 7.14%
Goodwill $98.92M $98.92M $98.92M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $276.1M $295.3M $309.5M
YoY Change -0.32% -4.59% 17.15%
Total Long-Term Assets $3.550B $3.535B $3.557B
YoY Change 6.96% -0.62% 8.15%
TOTAL ASSETS
Total Short-Term Assets $190.2M $218.0M $194.7M
Total Long-Term Assets $3.550B $3.535B $3.557B
Total Assets $3.740B $3.753B $3.752B
YoY Change 6.34% 0.03% 3.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $112.0M $120.8M $114.8M
YoY Change -4.68% 5.23% 5.22%
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 $137.7M $120.8M $114.8M
YoY Change -4.31% 5.23% 5.22%
LONG-TERM LIABILITIES
Long-Term Debt $1.622B $1.617B $1.879B
YoY Change 9.49% -13.96% 9.55%
Other Long-Term Liabilities $82.20M $85.60M $77.10M
YoY Change 13.38% 11.02% 17.89%
Total Long-Term Liabilities $1.704B $1.702B $1.956B
YoY Change 9.67% -12.98% 9.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $137.7M $120.8M $114.8M
Total Long-Term Liabilities $1.704B $1.702B $1.956B
Total Liabilities $1.842B $1.823B $2.071B
YoY Change 8.49% -11.97% 9.59%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $3.695B $3.694B $3.687B
YoY Change 0.21% 0.19% 0.09%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.896B $1.928B $1.679B
YoY Change
Total Liabilities & Shareholders Equity $3.740B $3.753B $3.752B
YoY Change 6.34% 0.03% 3.53%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income $22.61M $8.943M $8.422M
YoY Change -86.08% 6.19% -47.73%
Depreciation, Depletion And Amortization $47.70M $28.26M $27.13M
YoY Change 4.84% 4.14% 1.04%
Cash From Operating Activities $54.50M $48.20M $68.30M
YoY Change 12.84% -29.43% 23.96%
INVESTING ACTIVITIES
Capital Expenditures -$52.80M -$25.10M -$256.6M
YoY Change 14.04% -90.22% 1287.03%
Acquisitions
YoY Change
Other Investing Activities $8.000M -$3.900M $1.300M
YoY Change -98.0% -400.0% -123.21%
Cash From Investing Activities -$44.90M -$29.00M -$255.3M
YoY Change -112.7% -88.64% 954.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -26.10M -31.80M 189.9M
YoY Change -93.45% -116.75% -673.72%
NET CHANGE
Cash From Operating Activities 54.50M 48.20M 68.30M
Cash From Investing Activities -44.90M -29.00M -255.3M
Cash From Financing Activities -26.10M -31.80M 189.9M
Net Change In Cash -16.50M -12.60M 2.900M
YoY Change -585.29% -534.48% -231.82%
FREE CASH FLOW
Cash From Operating Activities $54.50M $48.20M $68.30M
Capital Expenditures -$52.80M -$25.10M -$256.6M
Free Cash Flow $107.3M $73.30M $324.9M
YoY Change 13.42% -77.44% 341.44%

Facts In Submission

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WeightedAverageNumberOfSharesOutstandingBasic
125684202 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
126385035 shares
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
126239744 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
126302051 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
126189851 shares
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
8943000 USD
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
8422000 USD
us-gaap Net Income Loss
NetIncomeLoss
210079000 USD
us-gaap Net Income Loss
NetIncomeLoss
66783000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
-2443000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
-1386000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
-26949000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
-6874000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-810000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
427000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-989000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
1871000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-1633000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-1813000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-25960000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-8745000 USD
CY2020Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
7310000 USD
CY2019Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
6609000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
184119000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
58038000 USD
CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1947837000 USD
CY2020Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.21
CY2020Q3 pdm Dividends Minority Interest Decrease From Distributions To Noncontrolling Interest Holders And Stock Issued During Period Value Dividend Reinvestment Plan
DividendsMinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHoldersAndStockIssuedDuringPeriodValueDividendReinvestmentPlan
26472000 USD
CY2020Q3 us-gaap Stock Issued During Period Value Share Based Compensation
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1257000 USD
CY2020Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-3000 USD
CY2020Q3 us-gaap Net Income Loss
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8943000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-1633000 USD
CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1929929000 USD
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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1702975000 USD
CY2019Q3 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
700000 USD
CY2019Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.21
CY2019Q3 pdm Dividends Minority Interest Decrease From Distributions To Noncontrolling Interest Holders And Stock Issued During Period Value Dividend Reinvestment Plan
DividendsMinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHoldersAndStockIssuedDuringPeriodValueDividendReinvestmentPlan
26495000 USD
CY2019Q3 us-gaap Stock Issued During Period Value Share Based Compensation
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-1603000 USD
CY2019Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-3000 USD
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
8422000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-1813000 USD
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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1680783000 USD
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1818974000 USD
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.63
pdm Dividends Minority Interest Decrease From Distributions To Noncontrolling Interest Holders And Stock Issued During Period Value Dividend Reinvestment Plan
DividendsMinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHoldersAndStockIssuedDuringPeriodValueDividendReinvestmentPlan
79405000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
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6243000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-2000 USD
us-gaap Net Income Loss
NetIncomeLoss
210079000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-25960000 USD
CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1929929000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1712140000 USD
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
12482000 USD
us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
700000 USD
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.63
pdm Dividends Minority Interest Decrease From Distributions To Noncontrolling Interest Holders And Stock Issued During Period Value Dividend Reinvestment Plan
DividendsMinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHoldersAndStockIssuedDuringPeriodValueDividendReinvestmentPlan
79447000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
3237000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-3000 USD
us-gaap Net Income Loss
NetIncomeLoss
66783000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-8745000 USD
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1680783000 USD
us-gaap Profit Loss
ProfitLoss
210077000 USD
us-gaap Profit Loss
ProfitLoss
66780000 USD
us-gaap Depreciation
Depreciation
83339000 USD
us-gaap Depreciation
Depreciation
80004000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
1319000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
419000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
64076000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
52057000 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
1953000 USD
pdm Noncash Gain Loss On Extinguishment Of Debt
NoncashGainLossOnExtinguishmentOfDebt
-349000 USD
pdm Noncash Gain Loss On Extinguishment Of Debt
NoncashGainLossOnExtinguishmentOfDebt
0 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
4831000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 USD
us-gaap Share Based Compensation
ShareBasedCompensation
6980000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
12365000 USD
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
191032000 USD
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
39370000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
30898000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
10660000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3745000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1958000 USD
us-gaap Increase Decrease In Derivative Liabilities
IncreaseDecreaseInDerivativeLiabilities
-19930000 USD
us-gaap Increase Decrease In Derivative Liabilities
IncreaseDecreaseInDerivativeLiabilities
0 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
12834000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-2496000 USD
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
610000 USD
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
1149000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
138810000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
160243000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
396745000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
326144000 USD
pdm Paymentsfor Tenant Improvements Capital Improvementsandto Develop Real Estate Assets
PaymentsforTenantImprovementsCapitalImprovementsandtoDevelopRealEstateAssets
80007000 USD
pdm Paymentsfor Tenant Improvements Capital Improvementsandto Develop Real Estate Assets
PaymentsforTenantImprovementsCapitalImprovementsandtoDevelopRealEstateAssets
57368000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
350807000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
180975000 USD
us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
27011000 USD
us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
16632000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-152956000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-219169000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1116000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
91000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
1136383000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
550000000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1001711000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
358041000 USD
pdm Payments For Loan Modification
PaymentsForLoanModification
525000 USD
pdm Payments For Loan Modification
PaymentsForLoanModification
0 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
259000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2700000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
3295000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
16899000 USD
pdm Payments Of Dividends Common Stock Distributions To Non Controlling Interest And Discount On Dividend Reinvestment
PaymentsOfDividendsCommonStockDistributionsToNonControllingInterestAndDiscountOnDividendReinvestment
105832000 USD
pdm Payments Of Dividends Common Stock Distributions To Non Controlling Interest And Discount On Dividend Reinvestment
PaymentsOfDividendsCommonStockDistributionsToNonControllingInterestAndDiscountOnDividendReinvestment
106419000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
24499000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
64996000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
10353000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
6070000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
15386000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6034000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
25739000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12104000 USD
CY2020Q3 pdm Real Estate Investments Numberof Office Markets
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7 property
CY2020Q3 us-gaap Below Market Lease Amortization Income After Year Five
BelowMarketLeaseAmortizationIncomeAfterYearFive
5670000 USD
pdm Number Of Wholly Owned Management Subsidiaries
NumberOfWhollyOwnedManagementSubsidiaries
2 subsidiary
CY2020Q3 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
57 property
CY2020Q3 pdm Real Estate Investments Numberof Office Markets
RealEstateInvestmentsNumberofOfficeMarkets
7 property
CY2020Q3 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
57 property
CY2020Q3 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
17200000 sqft
CY2020Q3 pdm Real Estate Property Percentof Property Under Lease
RealEstatePropertyPercentofPropertyUnderLease
0.869
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
us-gaap Use Of Estimates
UseOfEstimates
<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. The most significant of these estimates include the underlying cash flows and holding periods used in assessing impairment, judgements regarding the recoverability of goodwill, and the assessment of the collectibility of receivables. Future impacts of the COVID-19 pandemic on Piedmont and its tenants may affect these and other estimates used in the preparation of these financial statements. While Piedmont has made, what it believes to be, appropriate accounting estimates based on the facts and circumstances available as of the reporting date, actual results could materially differ from those estimates.</span></div>
CY2020Q3 us-gaap Below Market Lease Amortization Income Year Five
BelowMarketLeaseAmortizationIncomeYearFive
2072000 USD
CY2020Q3 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
108071000 USD
CY2019Q3 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
105207000 USD
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
329281000 USD
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
311503000 USD
CY2020Q3 us-gaap Variable Lease Income
VariableLeaseIncome
20209000 USD
CY2019Q3 us-gaap Variable Lease Income
VariableLeaseIncome
25372000 USD
us-gaap Variable Lease Income
VariableLeaseIncome
62400000 USD
us-gaap Variable Lease Income
VariableLeaseIncome
70710000 USD
CY2020Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
128280000 USD
CY2019Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
130579000 USD
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0335
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
391681000 USD
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
382213000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
60000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
60000 USD
pdm Operating Lease Weighted Average Lease Term
OperatingLeaseWeightedAverageLeaseTerm
P3Y
CY2020Q3 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
63205000 USD
CY2019Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
84292000 USD
CY2020Q3 pdm Amortization Of Intangible Lease Origination Costs And Absorption Period Costs
AmortizationOfIntangibleLeaseOriginationCostsAndAbsorptionPeriodCosts
18522000 USD
CY2019Q3 pdm Amortization Of Intangible Lease Origination Costs And Absorption Period Costs
AmortizationOfIntangibleLeaseOriginationCostsAndAbsorptionPeriodCosts
15881000 USD
pdm Amortization Of Intangible Lease Origination Costs And Absorption Period Costs
AmortizationOfIntangibleLeaseOriginationCostsAndAbsorptionPeriodCosts
58674000 USD
pdm Amortization Of Intangible Lease Origination Costs And Absorption Period Costs
AmortizationOfIntangibleLeaseOriginationCostsAndAbsorptionPeriodCosts
45057000 USD
CY2020Q3 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
3147000 USD
CY2019Q3 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
1923000 USD
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
9423000 USD
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
6009000 USD
CY2020Q3 us-gaap Below Market Lease Amortization Income Remainder Of Fiscal Year
BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear
2884000 USD
CY2020Q3 us-gaap Below Market Lease Amortization Income Next Twelve Months
BelowMarketLeaseAmortizationIncomeNextTwelveMonths
10899000 USD
CY2020Q3 us-gaap Below Market Lease Amortization Income Year Two
BelowMarketLeaseAmortizationIncomeYearTwo
8422000 USD
CY2020Q3 us-gaap Below Market Lease Amortization Income Year Three
BelowMarketLeaseAmortizationIncomeYearThree
5139000 USD
CY2020Q3 us-gaap Below Market Lease Amortization Income Year Four
BelowMarketLeaseAmortizationIncomeYearFour
3238000 USD
CY2020Q3 us-gaap Below Market Lease Net
BelowMarketLeaseNet
38324000 USD
pdm Finite Lived Intangible Liabilities Weighted Average Useful Life
FiniteLivedIntangibleLiabilitiesWeightedAverageUsefulLife
P5Y
CY2020Q1 pdm Real Estate Property Percentof Property Under Lease
RealEstatePropertyPercentofPropertyUnderLease
0.95
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-9300000 USD
CY2020Q3 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0303
CY2020Q3 us-gaap Notes And Loans Payable
NotesAndLoansPayable
1616835000 USD
CY2019Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
1481404000 USD
CY2020Q3 us-gaap Interest Paid
InterestPaid
12800000 USD
CY2019Q3 us-gaap Interest Paid
InterestPaid
17800000 USD
us-gaap Interest Paid
InterestPaid
41800000 USD
us-gaap Interest Paid
InterestPaid
49700000 USD
CY2020Q3 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
200000 USD
CY2019Q3 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
500000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
600000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
1600000 USD
us-gaap Maximum Length Of Time Hedged In Cash Flow Hedge1
MaximumLengthOfTimeHedgedInCashFlowHedge1
P54M
CY2020Q3 us-gaap Interest Rate Cash Flow Hedge Asset At Fair Value
InterestRateCashFlowHedgeAssetAtFairValue
0 USD
CY2019Q4 us-gaap Interest Rate Cash Flow Hedge Asset At Fair Value
InterestRateCashFlowHedgeAssetAtFairValue
0 USD
CY2020Q3 us-gaap Interest Rate Cash Flow Hedge Liability At Fair Value
InterestRateCashFlowHedgeLiabilityAtFairValue
10618000 USD
CY2019Q4 us-gaap Interest Rate Cash Flow Hedge Liability At Fair Value
InterestRateCashFlowHedgeLiabilityAtFairValue
5121000 USD
CY2020Q3 us-gaap Interest Rate Cash Flow Hedge Derivative At Fair Value Net
InterestRateCashFlowHedgeDerivativeAtFairValueNet
-10618000 USD
CY2019Q4 us-gaap Interest Rate Cash Flow Hedge Derivative At Fair Value Net
InterestRateCashFlowHedgeDerivativeAtFairValueNet
-5121000 USD
CY2020Q3 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
2900000 USD
CY2020Q3 us-gaap Assets Needed For Immediate Settlement Aggregate Fair Value
AssetsNeededForImmediateSettlementAggregateFairValue
11000000.0 USD
pdm Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Amortization Of Nonvested Shares
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAmortizationOfNonvestedShares
10500000 USD
CY2020Q3 pdm Number Of Unrecorded Tenant Allowance Commitments
NumberOfUnrecordedTenantAllowanceCommitments
1 Joint_Venture
CY2020Q3 pdm Unrecorded Tenant Allowance Commitment
UnrecordedTenantAllowanceCommitment
44000000.0 USD
pdm Unrecorded Tenant Allowance Renewal Term
UnrecordedTenantAllowanceRenewalTerm
P20Y
CY2020Q3 pdm Unrecorded Tenant Allowance Expansion Area
UnrecordedTenantAllowanceExpansionArea
520000 sqft
CY2020Q3 pdm Number Of Properties Held For Sale
NumberOfPropertiesHeldForSale
0 property
pdm Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Change In Estimated Potential Share Award
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsChangeInEstimatedPotentialShareAward
26586 shares
pdm Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Estimated Potential Share Award Weighted Average Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsEstimatedPotentialShareAwardWeightedAverageFairValue
27.47
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
925367 shares
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1400000 USD
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3800000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7000000.0 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12000000.0 USD
pdm Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Amortization Of Nonvested Shares
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAmortizationOfNonvestedShares
5800000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
245354 shares
CY2020Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
7500000 USD
pdm Increase Decrease In Accrued Capital Expenditures And Deferred Lease Costs
IncreaseDecreaseInAccruedCapitalExpendituresAndDeferredLeaseCosts
24035000 USD
pdm Increase Decrease In Accrued Capital Expenditures And Deferred Lease Costs
IncreaseDecreaseInAccruedCapitalExpendituresAndDeferredLeaseCosts
29828000 USD
pdm Increase Decrease In Dividends Payable And Discounts On Dividend Reinvestments
IncreaseDecreaseInDividendsPayableAndDiscountsOnDividendReinvestments
-26427000 USD
pdm Increase Decrease In Dividends Payable And Discounts On Dividend Reinvestments
IncreaseDecreaseInDividendsPayableAndDiscountsOnDividendReinvestments
-26972000 USD
pdm Increase Decreasein Accrued Share Repurchases
IncreaseDecreaseinAccruedShareRepurchases
0 USD
pdm Increase Decreasein Accrued Share Repurchases
IncreaseDecreaseinAccruedShareRepurchases
-4417000 USD
pdm Increase Decrease In Deferred Financing Costs
IncreaseDecreaseInDeferredFinancingCosts
130000 USD
pdm Increase Decrease In Deferred Financing Costs
IncreaseDecreaseInDeferredFinancingCosts
0 USD
pdm Increase Decrease In Accrued Stock Issuance Costs
IncreaseDecreaseInAccruedStockIssuanceCosts
0 USD
pdm Increase Decrease In Accrued Stock Issuance Costs
IncreaseDecreaseInAccruedStockIssuanceCosts
441000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
13545000 USD
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4571000 USD
CY2019Q4 us-gaap Restricted Cash
RestrictedCash
1841000 USD
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
23958000 USD
CY2019Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10284000 USD
CY2018Q4 us-gaap Restricted Cash
RestrictedCash
1463000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
15386000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6034000 USD
CY2020Q3 us-gaap Restricted Cash
RestrictedCash
1781000 USD
CY2019Q3 us-gaap Restricted Cash
RestrictedCash
1820000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
25739000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12104000 USD
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
310425 shares
CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
344 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
262165 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
134221 shares
CY2019Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
457000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
347000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
506000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
125684000 shares
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
356000 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
126029000 shares
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
125783000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
125955000 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
126385000 shares
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
126240000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
126302000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
126190000 shares

Files In Submission

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0001042776-20-000204-index-headers.html Edgar Link pending
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0001042776-20-000204.txt Edgar Link pending
0001042776-20-000204-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
pdm-20200930.htm Edgar Link pending
pdm-20200930.xsd Edgar Link pending
pdm-20200930_cal.xml Edgar Link unprocessable
pdm-20200930_def.xml Edgar Link unprocessable
pdm-20200930_htm.xml Edgar Link completed
pdm-20200930_lab.xml Edgar Link unprocessable
pdm-20200930_pre.xml Edgar Link unprocessable
pdm93020ex221guarantor.htm Edgar Link pending
pdm93020ex311peocert.htm Edgar Link pending
pdm93020ex312pfocert.htm Edgar Link pending
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