$PDM
Piedmont Office Realty Trust, Inc.

2022 Q3 Form 10-Q Financial Statement

#000104277622000155 Filed on July 27, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2021 Q4
Revenue $144.1M $136.3M $138.2M
YoY Change 9.94% 4.68% 5.04%
Cost Of Revenue $59.04M $53.63M $56.08M
YoY Change 14.05% 3.83% 1.42%
Gross Profit $85.06M $82.68M $82.08M
YoY Change 7.26% 5.24% 7.72%
Gross Profit Margin 59.03% 60.65% 59.41%
Selling, General & Admin $6.590M $7.027M $7.835M
YoY Change -5.25% -14.42% 5.88%
% of Gross Profit 7.75% 8.5% 9.55%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $34.94M $32.37M $51.87M
YoY Change 14.33% 7.91% 8.73%
% of Gross Profit 41.08% 39.16% 63.19%
Operating Expenses $64.82M $60.88M $61.80M
YoY Change 11.97% 3.36% 8.42%
Operating Profit $20.24M $21.80M $20.28M
YoY Change -5.48% 10.88% 5.63%
Interest Expense $17.24M $13.78M -$13.92M
YoY Change 38.51% 11.58% 7.05%
% of Operating Profit 85.2% 63.2% -68.62%
Other Income/Expense, Net -$16.91M -$13.83M $2.882M
YoY Change 67.2% 42.38% 60.11%
Pretax Income $3.331M $7.965M -$31.76M
YoY Change -70.52% -19.9% -240.51%
Income Tax
% Of Pretax Income
Net Earnings $3.331M $7.966M -$31.75M
YoY Change -70.54% -19.92% -240.43%
Net Earnings / Revenue 2.31% 5.84% -22.98%
Basic Earnings Per Share $0.03 $0.06
Diluted Earnings Per Share $0.03 $0.06 -$256.6K
COMMON SHARES
Basic Shares Outstanding 123.4M shares 123.4M shares 124.1M shares
Diluted Shares Outstanding 123.7M shares 123.7M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.65M $6.397M $7.419M
YoY Change 30.09% -21.24% 1.63%
Cash & Equivalents $10.65M $6.397M $7.419M
Short-Term Investments
Other Short-Term Assets $23.93M $26.96M $20.49M
YoY Change -3.97% -8.53% -12.08%
Inventory $0.00 $0.00 $63.89M
Prepaid Expenses
Receivables $180.9M $174.0M $165.6M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $215.5M $207.3M $257.4M
YoY Change 6.86% 3.12% 35.34%
LONG-TERM ASSETS
Property, Plant & Equipment $3.449B $3.061B $3.087B
YoY Change 14.34% 1.9% 4.1%
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 $294.7M $248.7M $274.4M
YoY Change 15.07% -4.39% -0.61%
Total Long-Term Assets $3.970B $3.488B $3.673B
YoY Change 11.55% -1.94% 3.48%
TOTAL ASSETS
Total Short-Term Assets $215.5M $207.3M $257.4M
Total Long-Term Assets $3.970B $3.488B $3.673B
Total Assets $4.185B $3.696B $3.931B
YoY Change 11.3% -1.67% 5.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $111.3M $99.72M $114.5M
YoY Change -12.86% -10.61% 2.19%
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 $111.3M $99.72M $140.5M
YoY Change -12.86% -10.61% 2.03%
LONG-TERM LIABILITIES
Long-Term Debt $2.145B $1.675B $1.878B
YoY Change 28.85% 0.49% 15.77%
Other Long-Term Liabilities $131.5M $105.4M $125.0M
YoY Change 22.6% -2.12% 52.01%
Total Long-Term Liabilities $2.277B $1.780B $2.003B
YoY Change 28.47% 0.33% 17.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $111.3M $99.72M $140.5M
Total Long-Term Liabilities $2.277B $1.780B $2.003B
Total Liabilities $2.388B $1.880B $2.143B
YoY Change 25.69% -0.31% 16.36%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $3.710B $3.709B $3.703B
YoY Change 0.24% 0.25% 0.21%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.796B $1.814B $1.786B
YoY Change
Total Liabilities & Shareholders Equity $4.185B $3.696B $3.931B
YoY Change 11.3% -1.67% 5.1%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2021 Q4
OPERATING ACTIVITIES
Net Income $3.331M $7.966M -$31.75M
YoY Change -70.54% -19.92% -240.43%
Depreciation, Depletion And Amortization $34.94M $32.37M $51.87M
YoY Change 14.33% 7.91% 8.73%
Cash From Operating Activities $72.21M $51.93M $77.17M
YoY Change 11.36% -2.74% 41.59%
INVESTING ACTIVITIES
Capital Expenditures -$307.3M -$26.56M -$265.2M
YoY Change 968.03% -8.13% 402.2%
Acquisitions
YoY Change
Other Investing Activities -$6.363M -$4.442M -$9.971M
YoY Change 84.27% -6.9% -224.64%
Cash From Investing Activities -$313.6M -$31.00M -$275.1M
YoY Change 873.33% -8.22% 512.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 246.4M -21.74M 192.5M
YoY Change -978.97% -2.63% -837.7%
NET CHANGE
Cash From Operating Activities 72.21M 51.93M 77.17M
Cash From Investing Activities -313.6M -31.00M -275.1M
Cash From Financing Activities 246.4M -21.74M 192.5M
Net Change In Cash 4.988M -812.0K -5.422M
YoY Change 8.86% -70.08% -67.14%
FREE CASH FLOW
Cash From Operating Activities $72.21M $51.93M $77.17M
Capital Expenditures -$307.3M -$26.56M -$265.2M
Free Cash Flow $379.5M $78.49M $342.3M
YoY Change 305.38% -4.63% 219.04%

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
2022
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Amendment Flag
AmendmentFlag
false
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2022-06-30
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-34626
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 Address State Or Province
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GA
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
dei Trading Symbol
TradingSymbol
PDM
dei Security Exchange Name
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0.55
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.15
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
123366482 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
124087113 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
123296204 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
124016933 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
123678553 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
124703911 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
123617272 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
124555274 shares
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
7966000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
9947000 usd
us-gaap Net Income Loss
NetIncomeLoss
67930000 usd
us-gaap Net Income Loss
NetIncomeLoss
19291000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
969000 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
-295000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
4845000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
1266000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-554000 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-740000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-1259000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-1466000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
1523000 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
445000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
6104000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
2732000 usd
CY2022Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
9489000 usd
CY2021Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
10392000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
74034000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
22023000 usd
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1830474000 usd
CY2022Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.21
CY2022Q2 us-gaap Dividends Common Stock
DividendsCommonStock
25926000 usd
CY2022Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1627000 usd
CY2022Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-1000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
7966000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
1523000 usd
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1815663000 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 Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-3000 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
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1787423000 usd
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.42
us-gaap Dividends Common Stock
DividendsCommonStock
51831000 usd
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
6038000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-1000 usd
us-gaap Net Income Loss
NetIncomeLoss
67930000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
6104000 usd
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1815663000 usd
us-gaap Depreciation
Depreciation
63887000 usd
us-gaap Depreciation
Depreciation
58101000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
39633000 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
us-gaap Profit Loss
ProfitLoss
67929000 usd
us-gaap Profit Loss
ProfitLoss
19287000 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
1724000 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
1441000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
40120000 usd
us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
-1000000 usd
us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
412000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
4868000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
6451000 usd
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
50674000 usd
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
0 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
8803000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
6959000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3939000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
7122000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-11184000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-8821000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-10663000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-2718000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
91778000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
100192000 usd
pdm Paymentsfor Tenant Improvements Capital Improvementsandto Develop Real Estate Assets
PaymentsforTenantImprovementsCapitalImprovementsandtoDevelopRealEstateAssets
59122000 usd
pdm Paymentsfor Tenant Improvements Capital Improvementsandto Develop Real Estate Assets
PaymentsforTenantImprovementsCapitalImprovementsandtoDevelopRealEstateAssets
54706000 usd
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
143596000 usd
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
0 usd
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
118500000 usd
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
0 usd
us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
9679000 usd
us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
6871000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
193295000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-61577000 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
80000 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
52000 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
217585000 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
169000000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
422000000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
125610000 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
29000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
3703000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2936000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
685000 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
77879000 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
77817000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-286077000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-38129000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1004000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
486000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8860000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9214000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7856000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9700000 usd
CY2022Q2 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
52 property
CY2022Q2 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
16100000 sqft
CY2022Q2 pdm Real Estate Property Percentof Property Under Lease
RealEstatePropertyPercentofPropertyUnderLease
0.870
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>
CY2022Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
110244000 usd
CY2021Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
105209000 usd
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
219976000 usd
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
210379000 usd
CY2022Q2 us-gaap Variable Lease Income
VariableLeaseIncome
21907000 usd
CY2021Q2 us-gaap Variable Lease Income
VariableLeaseIncome
21758000 usd
us-gaap Variable Lease Income
VariableLeaseIncome
44087000 usd
us-gaap Variable Lease Income
VariableLeaseIncome
42500000 usd
CY2022Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
132151000 usd
CY2021Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
126967000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
264063000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
252879000 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
20000 usd
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
20000 usd
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
60000 usd
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
60000 usd
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
20000000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
20000000 usd
CY2021Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
40000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
40000 usd
CY2022Q2 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P3M
CY2022Q2 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.0106
CY2022Q2 us-gaap Interest Paid
InterestPaid
12800000 usd
CY2021Q2 us-gaap Interest Paid
InterestPaid
8800000 usd
us-gaap Interest Paid
InterestPaid
28600000 usd
us-gaap Interest Paid
InterestPaid
25300000 usd
CY2022Q2 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
1100000 usd
CY2021Q2 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
900000 usd
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
2100000 usd
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
1700000 usd
us-gaap Maximum Length Of Time Hedged In Cash Flow Hedge1
MaximumLengthOfTimeHedgedInCashFlowHedge1
P33M
CY2022Q2 us-gaap Interest Rate Cash Flow Hedge Asset At Fair Value
InterestRateCashFlowHedgeAssetAtFairValue
996000 usd
CY2021Q4 us-gaap Interest Rate Cash Flow Hedge Asset At Fair Value
InterestRateCashFlowHedgeAssetAtFairValue
0 usd
CY2022Q2 us-gaap Interest Rate Cash Flow Hedge Liability At Fair Value
InterestRateCashFlowHedgeLiabilityAtFairValue
0 usd
CY2021Q4 us-gaap Interest Rate Cash Flow Hedge Liability At Fair Value
InterestRateCashFlowHedgeLiabilityAtFairValue
4924000 usd
CY2022Q2 us-gaap Interest Rate Cash Flow Hedge Derivative At Fair Value Net
InterestRateCashFlowHedgeDerivativeAtFairValueNet
996000 usd
CY2021Q4 us-gaap Interest Rate Cash Flow Hedge Derivative At Fair Value Net
InterestRateCashFlowHedgeDerivativeAtFairValueNet
-4924000 usd
CY2022Q2 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
100000 usd
CY2022Q2 us-gaap Assets Needed For Immediate Settlement Aggregate Fair Value
AssetsNeededForImmediateSettlementAggregateFairValue
5000 usd
CY2022Q2 pdm Number Of Unrecorded Tenant Allowance Commitments
NumberOfUnrecordedTenantAllowanceCommitments
1 commitment
CY2022Q2 pdm Unrecorded Tenant Allowance Commitment
UnrecordedTenantAllowanceCommitment
13300000 usd
pdm Unrecorded Tenant Allowance Renewal Term
UnrecordedTenantAllowanceRenewalTerm
P20Y
CY2022Q2 pdm Unrecorded Tenant Allowance Expansion Area
UnrecordedTenantAllowanceExpansionArea
520000 sqft
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
50674000 usd
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
143596000 usd
CY2022Q2 pdm Number Of Financing Receivable Notes Collected
NumberOfFinancingReceivableNotesCollected
2 note
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P3Y
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
946640 shares
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2100000 usd
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3200000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4900000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6500000 usd
pdm Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Amortization Of Nonvested Shares
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAmortizationOfNonvestedShares
3800000 usd
pdm Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Amortization Of Nonvested Shares
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsAmortizationOfNonvestedShares
5200000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
313753 shares
CY2022Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
10100000 usd
pdm Increase Decrease In Accrued Capital Expenditures And Deferred Lease Costs
IncreaseDecreaseInAccruedCapitalExpendituresAndDeferredLeaseCosts
23809000 usd
pdm Increase Decrease In Accrued Capital Expenditures And Deferred Lease Costs
IncreaseDecreaseInAccruedCapitalExpendituresAndDeferredLeaseCosts
33199000 usd
pdm Increase Decrease In Dividends Payable
IncreaseDecreaseInDividendsPayable
-26048000 usd
pdm Increase Decrease In Dividends Payable
IncreaseDecreaseInDividendsPayable
-25682000 usd
pdm Increase Decreasein Accrued Share Repurchases
IncreaseDecreaseinAccruedShareRepurchases
0 usd
pdm Increase Decreasein Accrued Share Repurchases
IncreaseDecreaseinAccruedShareRepurchases
-685000 usd
pdm Increase Decrease In Accrued Deferred Financing Costs
IncreaseDecreaseInAccruedDeferredFinancingCosts
59000 usd
pdm Increase Decrease In Accrued Deferred Financing Costs
IncreaseDecreaseInAccruedDeferredFinancingCosts
0 usd
pdm Increase Decrease In Accrued Stock Issuance Costs
IncreaseDecreaseInAccruedStockIssuanceCosts
0 usd
pdm Increase Decrease In Accrued Stock Issuance Costs
IncreaseDecreaseInAccruedStockIssuanceCosts
26000 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
7419000 usd
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
7331000 usd
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1441000 usd
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1883000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8860000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9214000 usd
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
6397000 usd
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
8122000 usd
CY2022Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1459000 usd
CY2021Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1578000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7856000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9700000 usd
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
156251 shares
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
20099 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
294348 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
169813 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
123366000 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
124087000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
123296000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
124017000 shares
CY2022Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
313000 shares
CY2021Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
617000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
321000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
538000 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
123679000 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
124704000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
123617000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
124555000 shares
CY2022Q2 us-gaap Revenues
Revenues
136309000 usd
CY2021Q2 us-gaap Revenues
Revenues
130218000 usd
us-gaap Revenues
Revenues
272458000 usd
us-gaap Revenues
Revenues
259475000 usd
CY2022Q2 pdm Net Operating Income
NetOperatingIncome
82688000 usd
CY2021Q2 pdm Net Operating Income
NetOperatingIncome
78782000 usd
pdm Net Operating Income
NetOperatingIncome
165068000 usd
pdm Net Operating Income
NetOperatingIncome
156441000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
7966000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
9947000 usd
us-gaap Net Income Loss
NetIncomeLoss
67930000 usd
us-gaap Net Income Loss
NetIncomeLoss
19291000 usd
CY2022Q2 pdm Revenue From Contract With Customer Net Of Related Operating Expenses
RevenueFromContractWithCustomerNetOfRelatedOperatingExpenses
203000 usd
CY2021Q2 pdm Revenue From Contract With Customer Net Of Related Operating Expenses
RevenueFromContractWithCustomerNetOfRelatedOperatingExpenses
247000 usd
pdm Revenue From Contract With Customer Net Of Related Operating Expenses
RevenueFromContractWithCustomerNetOfRelatedOperatingExpenses
565000 usd
pdm Revenue From Contract With Customer Net Of Related Operating Expenses
RevenueFromContractWithCustomerNetOfRelatedOperatingExpenses
637000 usd
CY2022Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
53852000 usd
CY2021Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
50691000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
107619000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
101706000 usd
CY2022Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7027000 usd
CY2021Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
8211000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
14622000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
15462000 usd
CY2022Q2 us-gaap Interest Expense
InterestExpense
13775000 usd
CY2021Q2 us-gaap Interest Expense
InterestExpense
12345000 usd
us-gaap Interest Expense
InterestExpense
27673000 usd
us-gaap Interest Expense
InterestExpense
24925000 usd
CY2022Q2 pdm Other Income Expense
OtherIncomeExpense
-273000 usd
CY2021Q2 pdm Other Income Expense
OtherIncomeExpense
2162000 usd
pdm Other Income Expense
OtherIncomeExpense
1536000 usd
pdm Other Income Expense
OtherIncomeExpense
4302000 usd
CY2022Q2 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
1000 usd
CY2021Q2 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
0 usd
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
50674000 usd
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
0 usd
CY2022Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-1000 usd
CY2021Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-3000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-1000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-4000 usd
CY2022Q2 pdm Net Operating Income
NetOperatingIncome
82688000 usd
CY2021Q2 pdm Net Operating Income
NetOperatingIncome
78782000 usd
pdm Net Operating Income
NetOperatingIncome
165068000 usd
pdm Net Operating Income
NetOperatingIncome
156441000 usd

Files In Submission

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0001042776-22-000155-index-headers.html Edgar Link pending
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0001042776-22-000155.txt Edgar Link pending
0001042776-22-000155-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
pdm-20220630.htm Edgar Link pending
pdm-20220630.xsd Edgar Link pending
pdm-20220630_cal.xml Edgar Link unprocessable
pdm-20220630_def.xml Edgar Link unprocessable
pdm-20220630_htm.xml Edgar Link completed
pdm-20220630_lab.xml Edgar Link unprocessable
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