$PDM
Piedmont Office Realty Trust, Inc.

2021 Q2 Form 10-Q Financial Statement

#000104277621000167 Filed on July 28, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $130.2M $134.6M
YoY Change -3.28% 3.03%
Cost Of Revenue $51.66M $53.10M
YoY Change -2.72% 1.34%
Gross Profit $78.56M $81.50M
YoY Change -3.61% 4.09%
Gross Profit Margin 60.33% 60.54%
Selling, General & Admin $8.211M $5.900M
YoY Change 39.17% -35.87%
% of Gross Profit 10.45% 7.24%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $30.00M $27.20M
YoY Change 10.29% 3.23%
% of Gross Profit 38.18% 33.37%
Operating Expenses $58.90M $57.60M
YoY Change 2.26% -47.45%
Operating Profit $19.66M $23.90M
YoY Change -17.75% -176.34%
Interest Expense $12.35M $13.95M
YoY Change -11.52% -7.67%
% of Operating Profit 62.8% 58.38%
Other Income/Expense, Net -$9.714M $168.4M
YoY Change -105.77% -1404.74%
Pretax Income $9.944M $192.4M
YoY Change -94.83% 2246.34%
Income Tax
% Of Pretax Income
Net Earnings $9.947M $192.4M
YoY Change -94.83% 2260.2%
Net Earnings / Revenue 7.64% 142.93%
Basic Earnings Per Share $0.08 $1.53
Diluted Earnings Per Share $0.08 $1.52
COMMON SHARES
Basic Shares Outstanding 124.1M shares 126.0M shares
Diluted Shares Outstanding 124.7M shares 126.5M shares

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.122M $36.50M
YoY Change -77.75% 374.03%
Cash & Equivalents $8.122M $36.47M
Short-Term Investments
Other Short-Term Assets $29.47M $33.00M
YoY Change -10.7% -0.3%
Inventory $0.00
Prepaid Expenses
Receivables $163.4M $155.9M
Other Receivables $0.00 $0.00
Total Short-Term Assets $201.0M $225.4M
YoY Change -10.81% 1.21%
LONG-TERM ASSETS
Property, Plant & Equipment $3.004B $3.038B
YoY Change -1.13% 5.75%
Goodwill $98.92M $98.92M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $260.2M $301.3M
YoY Change -13.66% 19.75%
Total Long-Term Assets $3.557B $3.544B
YoY Change 0.37% 7.32%
TOTAL ASSETS
Total Short-Term Assets $201.0M $225.4M
Total Long-Term Assets $3.557B $3.544B
Total Assets $3.758B $3.770B
YoY Change -0.3% 6.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $111.6M $95.40M
YoY Change 16.94% -2.15%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $111.6M $95.40M
YoY Change 16.94% -2.15%
LONG-TERM LIABILITIES
Long-Term Debt $1.667B $1.622B
YoY Change 2.78% -2.44%
Other Long-Term Liabilities $107.7M $105.0M
YoY Change 2.54% 66.93%
Total Long-Term Liabilities $1.774B $1.727B
YoY Change 2.77% 0.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $111.6M $95.40M
Total Long-Term Liabilities $1.774B $1.727B
Total Liabilities $1.886B $1.822B
YoY Change 3.51% -0.03%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $3.700B $3.693B
YoY Change 0.2% 0.09%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.871B $1.946B
YoY Change
Total Liabilities & Shareholders Equity $3.758B $3.770B
YoY Change -0.3% 6.93%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $9.947M $192.4M
YoY Change -94.83% 2260.2%
Depreciation, Depletion And Amortization $30.00M $27.20M
YoY Change 10.29% 3.23%
Cash From Operating Activities $53.39M $43.80M
YoY Change 21.9% -15.28%
INVESTING ACTIVITIES
Capital Expenditures -$28.91M -$22.50M
YoY Change 28.47% -79.82%
Acquisitions
YoY Change
Other Investing Activities -$4.771M $347.3M
YoY Change -101.37% -9005.13%
Cash From Investing Activities -$33.78M $324.8M
YoY Change -110.4% -381.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -22.33M -340.0M
YoY Change -93.43% -608.98%
NET CHANGE
Cash From Operating Activities 53.39M 43.80M
Cash From Investing Activities -33.78M 324.8M
Cash From Financing Activities -22.33M -340.0M
Net Change In Cash -2.714M 28.60M
YoY Change -109.49% 822.58%
FREE CASH FLOW
Cash From Operating Activities $53.39M $43.80M
Capital Expenditures -$28.91M -$22.50M
Free Cash Flow $82.30M $66.30M
YoY Change 24.13% -59.38%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Central Index Key
EntityCentralIndexKey
0001042776
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
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dei Document Fiscal Period Focus
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Q2
dei Amendment Flag
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dei Document Type
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dei Document Quarterly Report
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dei Document Period End Date
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dei Document Transition Report
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dei Entity File Number
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dei Entity Registrant Name
EntityRegistrantName
Piedmont Office Realty Trust, Inc.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
MD
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
58-2328421
dei Entity Address Address Line1
EntityAddressAddressLine1
5565 Glenridge Connector Ste. 450
dei Entity Address City Or Town
EntityAddressCityOrTown
Atlanta
dei Entity Current Reporting Status
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dei Entity Address Postal Zip Code
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dei City Area Code
CityAreaCode
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dei Local Phone Number
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418-8800
dei Security12b Title
Security12bTitle
Common Stock, $0.01 par value
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us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
-24506000 USD
CY2021Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-740000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-185000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-1466000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-179000 USD
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
445000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-2384000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
2732000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-24327000 USD
CY2021Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
10392000 USD
CY2020Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
190043000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
22023000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
176809000 USD
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1887345000 USD
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
55000 USD
CY2021Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.21
CY2021Q2 us-gaap Dividends Common Stock
DividendsCommonStock
26082000 USD
CY2021Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
911000 USD
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
9947000 USD
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
445000 USD
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1872508000 USD
CY2020Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1783717000 USD
CY2020Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.21
CY2020Q2 us-gaap Dividends Common Stock
DividendsCommonStock
26479000 USD
CY2020Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
557000 USD
CY2020Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-1000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
192427000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-2384000 USD
CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1947837000 USD
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1897961000 USD
us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
55000 USD
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.42
us-gaap Dividends Common Stock
DividendsCommonStock
52135000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
4718000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-4000 USD
us-gaap Net Income Loss
NetIncomeLoss
19291000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
2732000 USD
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1872508000 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
0.42
us-gaap Dividends Common Stock
DividendsCommonStock
52933000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
4986000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1000 USD
us-gaap Net Income Loss
NetIncomeLoss
201136000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-24327000 USD
CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1947837000 USD
us-gaap Profit Loss
ProfitLoss
19287000 USD
us-gaap Profit Loss
ProfitLoss
201137000 USD
us-gaap Depreciation
Depreciation
58101000 USD
us-gaap Depreciation
Depreciation
55084000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
1441000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
530000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
40120000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
43435000 USD
pdm Noncash Gain Loss On Extinguishment Of Debt
NoncashGainLossOnExtinguishmentOfDebt
0 USD
pdm Noncash Gain Loss On Extinguishment Of Debt
NoncashGainLossOnExtinguishmentOfDebt
-349000 USD
us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
412000 USD
us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
4865000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
6451000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
5545000 USD
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
0 USD
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
191372000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
6959000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
20923000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
7122000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
8464000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-8821000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
518000 USD
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-2718000 USD
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-124000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
100192000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
90580000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
0 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
396745000 USD
pdm Paymentsfor Tenant Improvements Capital Improvementsandto Develop Real Estate Assets
PaymentsforTenantImprovementsCapitalImprovementsandtoDevelopRealEstateAssets
54706000 USD
pdm Paymentsfor Tenant Improvements Capital Improvementsandto Develop Real Estate Assets
PaymentsforTenantImprovementsCapitalImprovementsandtoDevelopRealEstateAssets
54952000 USD
pdm Proceeds From Sale Of Productive Assets Net
ProceedsFromSaleOfProductiveAssetsNet
0 USD
pdm Proceeds From Sale Of Productive Assets Net
ProceedsFromSaleOfProductiveAssetsNet
350752000 USD
us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
6871000 USD
us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
23072000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-61577000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-124017000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
52000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
409000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
169000000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
840625000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
125610000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
701441000 USD
pdm Payments For Loan Modification
PaymentsForLoanModification
0 USD
pdm Payments For Loan Modification
PaymentsForLoanModification
525000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
29000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2936000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2601000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
685000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
77817000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
79360000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-38129000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
56289000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
486000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
22852000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9214000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
15386000 USD
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9700000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
38238000 USD
CY2021Q2 pdm Real Estate Investments Numberof Office Markets
RealEstateInvestmentsNumberofOfficeMarkets
7 property
CY2021Q2 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
54 property
CY2021Q2 pdm Real Estate Investments Numberof Office Markets
RealEstateInvestmentsNumberofOfficeMarkets
7 property
CY2021Q2 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
54 property
CY2021Q2 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
16400000 sqft
CY2021Q2 pdm Real Estate Property Percentof Property Under Lease
RealEstatePropertyPercentofPropertyUnderLease
0.859
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. 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>
CY2021Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
105209000 USD
CY2020Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
109714000 USD
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
210379000 USD
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
221210000 USD
CY2021Q2 us-gaap Variable Lease Income
VariableLeaseIncome
21758000 USD
CY2020Q2 us-gaap Variable Lease Income
VariableLeaseIncome
21533000 USD
us-gaap Variable Lease Income
VariableLeaseIncome
42500000 USD
us-gaap Variable Lease Income
VariableLeaseIncome
42191000 USD
CY2021Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
126967000 USD
CY2020Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
131247000 USD
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
252879000 USD
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
263401000 USD
CY2021Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
20000 USD
CY2020Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
20000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
40000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
40000 USD
CY2021Q2 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P1Y
CY2021Q2 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.0106
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<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%">Reclassifications</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain prior period amounts presented in the accompanying consolidated balance sheets have been reclassified as of December 31, 2020 to conform to the current period financial statement presentation related to the </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">225 and 235 Presidential Way</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> buildings, which was classified as held for sale as of June 30, 2021. (see </span><span style="background-color:#ffffff;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#ie7c82f52d7d24aed95cdfcc4326eff1c_70" style="background-color:#ffffff;color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note 7</a></span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">).</span></div>
CY2021Q2 us-gaap Long Term Debt
LongTermDebt
1666570000 USD
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
1622004000 USD
CY2021Q2 us-gaap Interest Paid
InterestPaid
8800000 USD
CY2020Q2 us-gaap Interest Paid
InterestPaid
13000000.0 USD
us-gaap Interest Paid
InterestPaid
25300000 USD
us-gaap Interest Paid
InterestPaid
29000000.0 USD
CY2021Q2 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
900000 USD
CY2020Q2 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
200000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
1700000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
400000 USD
us-gaap Maximum Length Of Time Hedged In Cash Flow Hedge1
MaximumLengthOfTimeHedgedInCashFlowHedge1
P45M
CY2021Q2 us-gaap Interest Rate Cash Flow Hedge Asset At Fair Value
InterestRateCashFlowHedgeAssetAtFairValue
0 USD
CY2020Q4 us-gaap Interest Rate Cash Flow Hedge Asset At Fair Value
InterestRateCashFlowHedgeAssetAtFairValue
0 USD
CY2021Q2 us-gaap Interest Rate Cash Flow Hedge Liability At Fair Value
InterestRateCashFlowHedgeLiabilityAtFairValue
7316000 USD
CY2020Q4 us-gaap Interest Rate Cash Flow Hedge Liability At Fair Value
InterestRateCashFlowHedgeLiabilityAtFairValue
9834000 USD
CY2021Q2 us-gaap Interest Rate Cash Flow Hedge Derivative At Fair Value Net
InterestRateCashFlowHedgeDerivativeAtFairValueNet
-7316000 USD
CY2020Q4 us-gaap Interest Rate Cash Flow Hedge Derivative At Fair Value Net
InterestRateCashFlowHedgeDerivativeAtFairValueNet
-9834000 USD
CY2021Q2 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
-2900000 USD
CY2021Q2 us-gaap Assets Needed For Immediate Settlement Aggregate Fair Value
AssetsNeededForImmediateSettlementAggregateFairValue
7500000 USD
CY2021Q2 pdm Number Of Unrecorded Tenant Allowance Commitments
NumberOfUnrecordedTenantAllowanceCommitments
1 jointVenture
CY2021Q2 pdm Unrecorded Tenant Allowance Commitment
UnrecordedTenantAllowanceCommitment
28100000 USD
pdm Unrecorded Tenant Allowance Renewal Term
UnrecordedTenantAllowanceRenewalTerm
P20Y
CY2021Q2 pdm Unrecorded Tenant Allowance Expansion Area
UnrecordedTenantAllowanceExpansionArea
520000 sqft
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P3Y
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1225089 shares
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3200000 USD
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1600000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6500000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5500000 USD
pdm Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Amortization Of Nonvested Shares
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAmortizationOfNonvestedShares
5200000 USD
pdm Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Amortization Of Nonvested Shares
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAmortizationOfNonvestedShares
4300000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
292501 shares
CY2021Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
10500000 USD
pdm Increase Decrease In Accrued Capital Expenditures And Deferred Lease Costs
IncreaseDecreaseInAccruedCapitalExpendituresAndDeferredLeaseCosts
33199000 USD
pdm Increase Decrease In Accrued Capital Expenditures And Deferred Lease Costs
IncreaseDecreaseInAccruedCapitalExpendituresAndDeferredLeaseCosts
16380000 USD
pdm Increase Decrease In Dividends Payable And Discounts On Dividend Reinvestments
IncreaseDecreaseInDividendsPayableAndDiscountsOnDividendReinvestments
-25682000 USD
pdm Increase Decrease In Dividends Payable And Discounts On Dividend Reinvestments
IncreaseDecreaseInDividendsPayableAndDiscountsOnDividendReinvestments
-26427000 USD
pdm Increase Decreasein Accrued Share Repurchases
IncreaseDecreaseinAccruedShareRepurchases
-685000 USD
pdm Increase Decreasein Accrued Share Repurchases
IncreaseDecreaseinAccruedShareRepurchases
0 USD
pdm Increase Decrease In Accrued Stock Issuance Costs
IncreaseDecreaseInAccruedStockIssuanceCosts
26000 USD
pdm Increase Decrease In Accrued Stock Issuance Costs
IncreaseDecreaseInAccruedStockIssuanceCosts
0 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
7331000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
13545000 USD
CY2020Q4 us-gaap Restricted Cash
RestrictedCash
1883000 USD
CY2019Q4 us-gaap Restricted Cash
RestrictedCash
1841000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9214000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
15386000 USD
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
8122000 USD
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
36469000 USD
CY2021Q2 us-gaap Restricted Cash
RestrictedCash
1578000 USD
CY2020Q2 us-gaap Restricted Cash
RestrictedCash
1769000 USD
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9700000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
38238000 USD
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
20099 shares
CY2020Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
46663 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
169813 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
109229 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
124087000 shares
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
125975000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
124017000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
125918000 shares
CY2021Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
617000 shares
CY2020Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
525000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
538000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
538000 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
124704000 shares
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
126500000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
124555000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
126456000 shares
CY2021Q2 us-gaap Revenues
Revenues
130218000 USD
CY2020Q2 us-gaap Revenues
Revenues
134631000 USD
us-gaap Revenues
Revenues
259475000 USD
us-gaap Revenues
Revenues
271802000 USD
CY2021Q2 pdm Net Operating Income
NetOperatingIncome
78782000 USD
CY2020Q2 pdm Net Operating Income
NetOperatingIncome
81416000 USD
pdm Net Operating Income
NetOperatingIncome
156441000 USD
pdm Net Operating Income
NetOperatingIncome
165218000 USD
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
9947000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
192427000 USD
us-gaap Net Income Loss
NetIncomeLoss
19291000 USD
us-gaap Net Income Loss
NetIncomeLoss
201136000 USD
CY2021Q2 pdm Revenue From Contract With Customer Net Of Related Operating Expenses
RevenueFromContractWithCustomerNetOfRelatedOperatingExpenses
247000 USD
CY2020Q2 pdm Revenue From Contract With Customer Net Of Related Operating Expenses
RevenueFromContractWithCustomerNetOfRelatedOperatingExpenses
282000 USD
pdm Revenue From Contract With Customer Net Of Related Operating Expenses
RevenueFromContractWithCustomerNetOfRelatedOperatingExpenses
637000 USD
pdm Revenue From Contract With Customer Net Of Related Operating Expenses
RevenueFromContractWithCustomerNetOfRelatedOperatingExpenses
677000 USD
CY2021Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
50691000 USD
CY2020Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
51549000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
101706000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
103064000 USD
CY2021Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
8211000 USD
CY2020Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5937000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
15462000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
14580000 USD
CY2021Q2 us-gaap Interest Expense
InterestExpense
12345000 USD
CY2020Q2 us-gaap Interest Expense
InterestExpense
13953000 USD
us-gaap Interest Expense
InterestExpense
24925000 USD
us-gaap Interest Expense
InterestExpense
29217000 USD
CY2021Q2 pdm Other Income Expense
OtherIncomeExpense
2162000 USD
CY2020Q2 pdm Other Income Expense
OtherIncomeExpense
134000 USD
pdm Other Income Expense
OtherIncomeExpense
4302000 USD
pdm Other Income Expense
OtherIncomeExpense
67000 USD
CY2021Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2020Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-9336000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-9336000 USD
CY2021Q2 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
0 USD
CY2020Q2 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
191369000 USD
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
0 USD
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
191372000 USD
CY2021Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-3000 USD
CY2020Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-1000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-4000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1000 USD
CY2021Q2 pdm Net Operating Income
NetOperatingIncome
78782000 USD
CY2020Q2 pdm Net Operating Income
NetOperatingIncome
81416000 USD
pdm Net Operating Income
NetOperatingIncome
156441000 USD
pdm Net Operating Income
NetOperatingIncome
165218000 USD

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