XML 40 R25.htm IDEA: XBRL DOCUMENT
v3.23.1

Segment Information | 3 Months Ended
--- | ---
Mar. 31, 2023
Segment Reporting [Abstract] |
Segment Information | Segment Information The following tables summarize the rental and other revenues and net operating income, the primary industry property-level performance metric used by our chief operating decision maker and which is defined as rental and other revenues less rental property and other expenses, for our office properties. Our segment information for the three months ended March 31, 2022 has been retrospectively revised from previously reported amounts to reflect a change in our reportable segments as a result of our plan to exit the Pittsburgh market.
|  |  | Three Months Ended March 31,
|  |  |  |  | 2023 |  | 2022
Rental and Other Revenues: |  |  |  |  |  |  |
Atlanta |  |  |  |  | $ | 36,870 |  |  | $ | 35,554 |
Charlotte |  |  |  |  | 21,580 |  |  | 16,944 |
Nashville |  |  |  |  | 44,564 |  |  | 43,447 |
Orlando |  |  |  |  | 14,394 |  |  | 13,312 |
Raleigh |  |  |  |  | 45,878 |  |  | 46,296 |
Richmond |  |  |  |  | 9,309 |  |  | 10,533 |
Tampa |  |  |  |  | 25,391 |  |  | 24,023 |
Total Office Segment |  |  |  |  | 197,986 |  |  | 190,109 |
Other |  |  |  |  | 14,766 |  |  | 16,269 |
Total Rental and Other Revenues |  |  |  |  | $ | 212,752 |  |  | $ | 206,378 |
Net Operating Income: |  |  |  |  |  |  |
Atlanta |  |  |  |  | $ | 24,225 |  |  | $ | 23,681 |
Charlotte |  |  |  |  | 16,110 |  |  | 13,050 |
Nashville |  |  |  |  | 33,025 |  |  | 32,522 |
Orlando |  |  |  |  | 8,772 |  |  | 8,137 |
Raleigh |  |  |  |  | 33,606 |  |  | 34,715 |
Richmond |  |  |  |  | 6,570 |  |  | 7,225 |
Tampa |  |  |  |  | 16,404 |  |  | 15,946 |
Total Office Segment |  |  |  |  | 138,712 |  |  | 135,276 |
Other |  |  |  |  | 8,309 |  |  | 9,680 |
Total Net Operating Income |  |  |  |  | 147,021 |  |  | 144,956 |
Reconciliation to net income: |  |  |  |  |  |  |
Depreciation and amortization |  |  |  |  | (70,633) |  |  | (69,667) |
General and administrative expenses |  |  |  |  | (12,415) |  |  | (13,556) |
Interest expense |  |  |  |  | (33,098) |  |  | (24,393) |
Other income |  |  |  |  | 1,147 |  |  | 363 |
Gains on disposition of property |  |  |  |  | 450 |  |  | 4,100 |
Gain on deconsolidation of affiliate |  |  |  |  | 11,778 |  |  | — |
Equity in earnings of unconsolidated affiliates |  |  |  |  | 704 |  |  | 300 |
Net income |  |  |  |  | $ | 44,954 |  |  | $ | 42,103 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration