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v3.23.2

Segment Information | 6 Months Ended
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Jun. 30, 2023
Segment Reporting [Abstract] |
Segment Information | Segment Information The following tables summarize rental and other revenues and net operating income for our office properties. Net operating income is the primary industry property-level performance metric used by our chief operating decision maker and is defined as rental and other revenues less rental property and other expenses. Our segment information for the three and six months ended June 30, 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 June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Rental and Other Revenues: |  |  |  |  |  |  |
Atlanta | $ | 35,455 |  |  | $ | 35,447 |  |  | $ | 72,325 |  |  | $ | 71,001 |
Charlotte | 20,793 |  |  | 16,874 |  |  | 42,373 |  |  | 33,818 |
Nashville | 42,636 |  |  | 42,606 |  |  | 87,200 |  |  | 86,053 |
Orlando | 14,550 |  |  | 13,352 |  |  | 28,944 |  |  | 26,664 |
Raleigh | 45,701 |  |  | 45,535 |  |  | 91,579 |  |  | 91,831 |
Richmond | 9,048 |  |  | 10,432 |  |  | 18,357 |  |  | 20,965 |
Tampa | 24,953 |  |  | 23,556 |  |  | 50,344 |  |  | 47,579 |
Total Office Segment | 193,136 |  |  | 187,802 |  |  | 391,122 |  |  | 377,911 |
Other | 14,155 |  |  | 16,039 |  |  | 28,921 |  |  | 32,308 |
Total Rental and Other Revenues | $ | 207,291 |  |  | $ | 203,841 |  |  | $ | 420,043 |  |  | $ | 410,219 |
Net Operating Income: |  |  |  |  |  |  |
Atlanta | $ | 22,268 |  |  | $ | 23,267 |  |  | $ | 46,493 |  |  | $ | 46,948 |
Charlotte | 15,221 |  |  | 12,807 |  |  | 31,331 |  |  | 25,857 |
Nashville | 31,116 |  |  | 31,417 |  |  | 64,141 |  |  | 63,939 |
Orlando | 8,852 |  |  | 8,262 |  |  | 17,624 |  |  | 16,399 |
Raleigh | 33,670 |  |  | 34,020 |  |  | 67,276 |  |  | 68,735 |
Richmond | 6,353 |  |  | 7,363 |  |  | 12,923 |  |  | 14,588 |
Tampa | 15,636 |  |  | 14,615 |  |  | 32,040 |  |  | 30,561 |
Total Office Segment | 133,116 |  |  | 131,751 |  |  | 271,828 |  |  | 267,027 |
Other | 7,868 |  |  | 9,721 |  |  | 16,177 |  |  | 19,401 |
Total Net Operating Income | 140,984 |  |  | 141,472 |  |  | 288,005 |  |  | 286,428 |
Reconciliation to net income: |  |  |  |  |  |  |
Depreciation and amortization | (75,018) |  |  | (69,742) |  |  | (145,651) |  |  | (139,409) |
Impairments of real estate assets | — |  |  | (35,000) |  |  | — |  |  | (35,000) |
General and administrative expenses | (9,380) |  |  | (9,591) |  |  | (21,795) |  |  | (23,147) |
Interest expense | (34,063) |  |  | (25,027) |  |  | (67,161) |  |  | (49,420) |
Other income | 1,181 |  |  | 120 |  |  | 2,328 |  |  | 483 |
Gains on disposition of property | 19,368 |  |  | 50,044 |  |  | 19,818 |  |  | 54,144 |
Gain on deconsolidation of affiliate | — |  |  | — |  |  | 11,778 |  |  | — |
Equity in earnings of unconsolidated affiliates | 798 |  |  | 326 |  |  | 1,502 |  |  | 626 |
Net income | $ | 43,870 |  |  | $ | 52,602 |  |  | $ | 88,824 |  |  | $ | 94,705 |

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