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Reportable Segments (Tables) | 3 Months Ended
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Mar. 31, 2021
Segment Reporting [Abstract] |
Reconciliation of Revenue from Segments to Consolidated | Segment net income, amount of capital expenditures, and total assets are not presented in the following tables because management does not utilize these measures when analyzing its segments or when making resource allocation decisions. Information on the Company's segments along with a reconciliation of NOI to net income for years ended three months ended March 31, 2021 and 2020 are as follows (in thousands):
Three Months Ended March 31, 2021 |  | Office |  | Mixed-Use |  |  |  | Total
Revenues: |  |  |  |  |  |  |  |
Atlanta |  | $ | 64,792 |  |  | $ | 359 |  |  |  |  | $ | 65,151 |
Austin |  | 58,033 |  |  | — |  |  |  |  | 58,033 |
Charlotte |  | 21,727 |  |  | — |  |  |  |  | 21,727 |
Dallas |  | 4,484 |  |  | — |  |  |  |  | 4,484 |
Phoenix |  | 12,738 |  |  | — |  |  |  |  | 12,738 |
Tampa |  | 14,571 |  |  | — |  |  |  |  | 14,571 |
Other |  | 14,095 |  |  | 1,245 |  |  |  |  | 15,340 |
Total segment revenues |  | 190,440 |  |  | 1,604 |  |  |  |  | 192,044 |
Less: Company's share of rental property revenues from unconsolidated joint ventures |  | (5,633) |  |  | (1,604) |  |  |  |  | (7,237) |
Total rental property revenues |  | $ | 184,807 |  |  | $ | — |  |  |  |  | $ | 184,807 |
Three Months Ended March 31, 2020 |  | Office |  | Mixed-Use |  |  |  | Total
Revenues: |  |  |  |  |  |  |  |
Atlanta |  | $ | 65,877 |  |  | $ | 35 |  |  |  |  | $ | 65,912 |
Austin |  | 48,747 |  |  | — |  |  |  |  | 48,747 |
Charlotte |  | 34,537 |  |  | — |  |  |  |  | 34,537 |
Dallas |  | 4,471 |  |  | — |  |  |  |  | 4,471 |
Phoenix |  | 13,159 |  |  | — |  |  |  |  | 13,159 |
Tampa |  | 14,112 |  |  | — |  |  |  |  | 14,112 |
Other |  | 16,494 |  |  | 1,262 |  |  |  |  | 17,756 |
Total segment revenues |  | 197,397 |  |  | 1,297 |  |  |  |  | 198,694 |
Less: Company's share of rental property revenues from unconsolidated joint ventures |  | (8,268) |  |  | (1,297) |  |  |  |  | (9,565) |
Total rental property revenues |  | $ | 189,129 |  |  | $ | — |  |  |  |  | $ | 189,129 |
Reconciliation of NOI to Net Income Available to Common Stockholders | NOI by reportable segment for the three months ended March 31, 2021 and 2020 are as follows (in thousands):
Three Months Ended March 31, 2021 |  | Office |  | Mixed-Use |  |  |  | Total
Net Operating Income: |  |  |  |  |  |  |  |
Atlanta |  | $ | 43,045 |  |  | $ | 151 |  |  |  |  | $ | 43,196 |
Austin |  | 34,278 |  |  | — |  |  |  |  | 34,278 |
Charlotte |  | 15,257 |  |  | — |  |  |  |  | 15,257 |
Dallas |  | 3,551 |  |  | — |  |  |  |  | 3,551 |
Phoenix |  | 9,025 |  |  | — |  |  |  |  | 9,025 |
Tampa |  | 9,402 |  |  | — |  |  |  |  | 9,402 |
Other |  | 7,541 |  |  | 874 |  |  |  |  | 8,415 |
Total Net Operating Income |  | $ | 122,099 |  |  | $ | 1,025 |  |  |  |  | $ | 123,124 |
Three Months Ended March 31, 2020 |  | Office |  | Mixed-Use |  |  |  | Total
Net Operating Income: |  |  |  |  |  |  |  |
Atlanta |  | $ | 44,855 |  |  | $ | (60) |  |  |  |  | $ | 44,795 |
Austin |  | 29,294 |  |  | — |  |  |  |  | 29,294 |
Charlotte |  | 22,113 |  |  | — |  |  |  |  | 22,113 |
Dallas |  | 3,639 |  |  | — |  |  |  |  | 3,639 |
Phoenix |  | 9,793 |  |  | — |  |  |  |  | 9,793 |
Tampa |  | 8,144 |  |  | — |  |  |  |  | 8,144 |
Other |  | 9,128 |  |  | 876 |  |  |  |  | 10,004 |
Total Net Operating Income |  | $ | 126,966 |  |  | $ | 816 |  |  |  |  | $ | 127,782 |
The following reconciles Net Operating Income to net income for each of the periods presented (in thousands):
| Three Months Ended March 31, |  |
| 2021 |  | 2020 |  |  |  |
Net Operating Income | $ | 123,124 |  |  | $ | 127,782 |  |  |  |  |
Net operating income from unconsolidated joint ventures | (4,754) |  |  | (6,035) |  |  |  |  |
Fee income | 4,529 |  |  | 4,732 |  |  |  |  |
Termination fee income | 42 |  |  | 2,844 |  |  |  |  |
Other income | 214 |  |  | 37 |  |  |  |  |
Reimbursed expenses | (368) |  |  | (521) |  |  |  |  |
General and administrative expenses | (6,733) |  |  | (5,652) |  |  |  |  |
Interest expense | (17,208) |  |  | (15,904) |  |  |  |  |
Depreciation and amortization | (70,870) |  |  | (71,614) |  |  |  |  |
Transaction costs | — |  |  | (365) |  |  |  |  |
Other expenses | (590) |  |  | (566) |  |  |  |  |
Income from unconsolidated joint ventures | 1,903 |  |  | 3,425 |  |  |  |  |
Gain on sales of investments in unconsolidated joint ventures | 39 |  |  | 46,230 |  |  |  |  |
Gain (loss) on investment property transactions | (17) |  |  | 90,916 |  |  |  |  |
Net income | $ | 29,311 |  |  | $ | 175,309 |  |  |  |  |

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
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- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
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