$ 124,248

$ 111,767

$ 247,698

$ 226,505

24,044

23,086

48,544

45,837

387

454

900

977

148,679

135,307

297,142

273,319

Expenses:

55,779

52,292

111,163

106,571

30,059

31,556

60,827

63,338

19,314

17,402

39,729

35,208

^[1]

10,950

8,036

8,316

16,632

16,089

113,188

120,516

228,351

232,156

35,491

14,791

68,791

41,163

(18,421)

(16,413)

(36,478)

(32,798)

(41)

(62)

253

107

110

118

225

(18,276)

(16,344)

(36,422)

(32,320)

17,215

(1,553)

32,369

8,843

(1)

(1)

6,492

73,835

6,439

73,815

Less: Net loss/(income) applicable to noncontrolling interest

23,707

72,281

38,808

82,657

(3)

(7)

Per share information – basic and diluted:

$ 23,710

$ 72,278

$ 38,814

$ 82,650

Income/(loss) from continuing operations and gain on sale of real estate assets (in dollars per share)

$ 0.16

$ 0.50

$ 0.27

$ 0.57

Loss from discontinued operations (in dollars per share)

0.00

Net income applicable to common stockholders (in dollars per share)

$ 0.16

$ 0.50

$ 0.27

$ 0.57

Weighted-average common shares outstanding – basic (in shares)

145,412,524

145,178,601

145,350,074

145,227,539

Weighted-average common shares outstanding – diluted (in shares)

145,813,130

145,698,723

145,779,709

145,765,149

[1]	The fair value measurements used in the evaluation of the non-financial assets above are considered to be Level 1 valuations within the fair value hierarchy as defined by GAAP, as there are direct observations and transactions involving the assets by unrelated, third-party purchasers.

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Statement of Comprehensive Income [Abstract]
Net income applicable to Piedmont	$ 23,710	$ 72,278	$ 38,814	$ 82,650
Other comprehensive income/(loss):
Effective portion of gain/(loss) on derivative instruments that are designated and qualify as cash flow hedges (See Note 5)	(911)	(4,068)	132	(15,029)
Plus: Reclassification of previously recorded loss included in net income (See Note 5)	977	1,113	2,283	2,246
Gain on investment in available for sale securities	15	13	28	12
Other comprehensive income/(loss)	81	(2,942)	2,443	(12,771)
Comprehensive income applicable to Piedmont	$ 23,791	$ 69,336	$ 41,257	$ 69,879

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Cumulative Distributions in Excess of Earnings [Member]	Other Comprehensive Income/ (Loss) [Member]	Non-controlling Interest [Member]
Balance at Dec. 31, 2015	$ 2,123,420	$ 1,455	$ 3,669,977	$ (1,550,698)	$ 1,661	$ 1,025
Balance (in shares) at Dec. 31, 2015		145,512,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss applicable to noncontrolling interest	7
Net income applicable to Piedmont	82,650
Other comprehensive income	$ (12,771)
Balance (in shares) at Jun. 30, 2016	145,230,000
Balance at Dec. 31, 2015	$ 2,123,420	$ 1,455	3,669,977	(1,550,698)	1,661	1,025
Balance (in shares) at Dec. 31, 2015		145,512,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share repurchases as part of an announced plan	(7,943)	$ (5)		(7,938)
Share repurchases as part of an announced plan, shares		(462,000)
Offering costs	(342)		(342)
Noncontrolling interest in consolidated joint venture	888					888
Dividends to common stockholders ($0.84 (YTD 2016) and $0.42 (YTD 2017) per share), dividends to stockholders of subsidiary, and dividends reinvested	(122,148)		(173)	(121,959)		(16)
Shares issued and amortized under the 2007 Omnibus Incentive Plan, net of tax	3,668	$ 2	3,666
Shares issued and amortized under the 2007 Omnibus Incentive Plan, net of tax (in shares)		185,000
Net loss applicable to noncontrolling interest	(15)					(15)
Net income applicable to Piedmont	99,732			99,732
Other comprehensive income	443				443
Balance at Dec. 31, 2016	$ 2,097,703	$ 1,452	3,673,128	(1,580,863)	2,104	1,882
Balance (in shares) at Dec. 31, 2016	145,235,313	145,235,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Offering costs	$ (76)		(76)
Dividends to common stockholders ($0.84 (YTD 2016) and $0.42 (YTD 2017) per share), dividends to stockholders of subsidiary, and dividends reinvested	(61,132)		(55)	(61,070)		(7)
Shares issued and amortized under the 2007 Omnibus Incentive Plan, net of tax	2,568	$ 3	2,565
Shares issued and amortized under the 2007 Omnibus Incentive Plan, net of tax (in shares)		255,000
Net loss applicable to noncontrolling interest	(6)					(6)
Net income applicable to Piedmont	38,814			38,814
Other comprehensive income	2,443				2,443
Balance at Jun. 30, 2017	$ 2,080,314	$ 1,455	$ 3,675,562	$ (1,603,119)	$ 4,547	$ 1,869
Balance (in shares) at Jun. 30, 2017	145,489,845	145,490,000

Consolidated Statements of Cash Flows - USD ($)
$ in Thousands

6 Months Ended

Jun. 30, 2017

Jun. 30, 2016

Cash Flows from Operating Activities:

Operating distributions received from unconsolidated joint ventures

$ 38,808

$ 82,657

389

Adjustments to reconcile net income to net cash provided by operating activities:

Amortization of debt issuance costs

60,827

63,338

810

842

Other amortization

39,034

34,912

Stock compensation expense

^[1]

10,950

5,403

5,653

(118)

(225)

Increase in tenant and straight-line rent receivables, net

(6,439)

(73,815)

Changes in assets and liabilities:

(13,078)

(8,795)

(Increase)/decrease in restricted cash and escrows

(428)

4,230

Increase in prepaid expenses and other assets

(6,558)

(4,745)

Decrease in accounts payable and accrued expenses

(5,471)

(9,785)

Decrease in deferred income

(1,128)

(2,862)

Net cash provided by operating activities

111,662

102,744

Cash Flows from Investing Activities:

Acquisition of real estate assets, related intangibles, and cash held in escrow for acquisitions

(10,000)

Capitalized expenditures, net of accruals

(58,320)

(54,422)

Net sales proceeds from wholly-owned properties

23,023

201,690

Investments in unconsolidated joint ventures

(284)

Deferred lease costs paid

(9,563)

(6,266)

Net cash (used in)/provided by investing activities

(45,144)

131,002

Cash Flows from Financing Activities:

Debt issuance costs paid

(102)

(138)

Proceeds from debt

147,000

211,000

Repayments of debt

(115,694)

(357,597)

Costs of issuance of common stock

(74)

(42)

Shares withheld to pay tax obligations related to employee stock compensation

(3,380)

(2,283)

Repurchases of common stock as part of announced plan

(7,943)

Dividends paid and discount on dividend reinvestments

(91,664)

(61,075)

Net cash used in financing activities

(63,914)

(218,078)

Net increase in cash and cash equivalents

2,604

15,668

Cash and cash equivalents, beginning of period

6,992

5,441

Cash and cash equivalents, end of period

9,596

21,109

Supplemental Disclosures of Significant Noncash Investing and Financing Activities:

Accrued dividends and discount on dividend reinvestments

(30,532)

Accrued capital expenditures and deferred lease costs

$ 9,417

$ 25,146

[1]	The fair value measurements used in the evaluation of the non-financial assets above are considered to be Level 1 valuations within the fair value hierarchy as defined by GAAP, as there are direct observations and transactions involving the assets by unrelated, third-party purchasers.

Organization	6 Months Ended
Organization	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Piedmont Office Realty Trust, Inc. (“Piedmont”) (NYSE: PDM) is a Maryland corporation that operates in a manner so as to qualify as a real estate investment trust (“REIT”) for federal income tax purposes and engages in the acquisition, development, management, and ownership of commercial real estate properties throughout the United States, including properties that are under construction, are newly constructed, or have operating histories. Piedmont was incorporated in 1997 and commenced operations in 1998. Piedmont conducts business primarily through Piedmont Operating Partnership, L.P. (“Piedmont OP”), a Delaware limited partnership, as well as performing the management of its buildings through two wholly-owned subsidiaries, Piedmont Government Services, LLC and Piedmont Office Management, LLC. Piedmont owns 99.9% of, and is the sole general partner of, Piedmont OP and as such, possesses full legal control and authority over the operations of Piedmont OP. The remaining 0.1% ownership interest of Piedmont OP is held indirectly by Piedmont through its wholly-owned subsidiary, Piedmont Office Holdings, Inc. ("POH"), the sole limited partner of Piedmont OP. Piedmont OP owns properties directly, through wholly-owned subsidiaries, and through both consolidated and unconsolidated joint ventures. References to Piedmont herein shall include Piedmont and all of its subsidiaries, including Piedmont OP and its subsidiaries and joint ventures. As of June 30, 2017, Piedmont owned 67 in-service office properties, and one building through an unconsolidated joint venture. Piedmont's total consolidated portfolio consists of approximately 20 million square feet of primarily Class A commercial office space, and was 91.0% leased as of June 30, 2017. As of June 30, 2017, approximately 88% of Piedmont's ALR was generated from select sub-markets located primarily within eight major office markets located in the Eastern-half of the United States: Atlanta, Boston, Chicago, Dallas, Minneapolis, New York, Orlando, and Washington, D.C. Piedmont internally evaluates all of its real estate assets as one operating segment, and accordingly, does not report segment information.

Summary of Significant Accounting Policies	6 Months Ended
Summary of Significant Accounting Policies	Jun. 30, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation and Principles of Consolidation The consolidated financial statements of Piedmont have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”), including the instructions to Form 10-Q and Article 10 of Regulation S-X, and do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the statements for the unaudited interim periods presented include all adjustments, which are of a normal and recurring nature, necessary for a fair presentation of the results for such periods. Results for these interim periods are not necessarily indicative of a full year’s results. Piedmont’s consolidated financial statements include the accounts of Piedmont, Piedmont’s wholly-owned subsidiaries, any variable interest entity ("VIE") for which Piedmont or any of its wholly-owned subsidiaries is considered to have the power to direct the activities of the entity and the obligation to absorb losses/right to receive benefits, or any entity in which Piedmont or any of its wholly-owned subsidiaries owns a controlling interest. In determining whether Piedmont or Piedmont OP has a controlling interest, the following factors, among others, are considered: equity ownership, voting rights, protective rights of investors, and participatory rights of investors. For further information, refer to the financial statements and footnotes included in Piedmont’s Amended Annual Report on Form 10-K/A for the year ended December 31, 2016. All intercompany balances and transactions have been eliminated upon consolidation. Further, Piedmont has formed special purpose entities to acquire and hold real estate. Each special purpose entity is a separate legal entity. Consequently, the assets of these special purpose entities are not available to all creditors of Piedmont. The assets owned by these special purpose entities are being reported on a consolidated basis with Piedmont’s assets for financial reporting purposes only. Use of Estimates 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. Actual results could differ from those estimates. Income Taxes Piedmont has elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended, and has operated as such, beginning with its taxable year ended December 31, 1998. To qualify as a REIT, Piedmont must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of its annual REIT taxable income. As a REIT, Piedmont is generally not subject to federal income taxes, subject to fulfilling, among other things, this distribution requirement. Piedmont is subject to certain taxes related to the operations of properties in certain locations, as well as operations conducted by its taxable REIT subsidiary, POH, which have been provided for in the financial statements. Reclassifications Certain prior period amounts presented in Piedmont's Amended Annual Report on Form 10-K/A for the year ended December 31, 2016 have been reclassified to conform to the current period financial statement presentation. The reclassifications relate to the Two Independence Square building, located in Washington, D.C., which was first classified as held for sale as of March 31, 2017, and continues to be presented as held for sale as of June 30, 2017. Applicable balances related to the same asset have been reclassified as held for sale as of December 31, 2016. Recent Accounting Pronouncements The Financial Accounting Standards Board (the "FASB") has issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09") and Accounting Standards Update No. 2016-08, Revenue from Contracts with Customers (Topic 606) Principal versus Agent Considerations (Reporting Revenue Gross versus Net) ("ASU 2016-08"). The amendments in ASU 2014-09, which are further clarified in ASU 2016-08, as well as Accounting Standards Update 2016-10, Accounting Standards Update 2016-12, and Accounting Standards Update 2016-20 (collectively the "Revenue Recognition Amendments"), change the criteria for the recognition of certain revenue streams to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services using a five-step determination process. Steps 1 through 5 involve (i) identifying contracts with a customer, (ii) identifying the performance obligations in the contract, (iii) determining the transaction price, (iv) allocating the transaction price to the performance obligations, and (v) recognizing revenue as an entity satisfies a performance obligation. The revenues impacted by the Revenue Recognition Amendments include a portion of Piedmont's tenant reimbursement revenues and property management fee revenues. Lease contracts and reimbursement revenues associated with property taxes and insurance are specifically excluded from the Revenue Recognition Amendments. The Revenue Recognition Amendments are effective in the first quarter of 2018 for Piedmont. Management has substantially completed its initial assessment of the impact of adoption of the Revenue Recognition Amendments. Approximately 90% of Piedmont's total revenues are derived from either long-term leases with its tenants or reimbursement of property tax and insurance expenses, which are excluded from the scope of the Revenue Recognition Amendments. In addition, based on management's assessment to date, Piedmont does not expect the timing of the recognition of reimbursement revenue and revenue from management agreements to change as a result of the new guidance, though certain classifications will change between rental revenue and tenant reimbursements. Finally, management has determined, and the FASB has confirmed, that the evaluation of non-lease components under the new Revenue Recognition Amendments will not be effective until Accounting Standards Update No. 2016-02, Leases (Topic 842), ("ASU 2016-02") becomes effective (see further discussion below), which will be first quarter of 2019 for Piedmont. As a result, although management continues to evaluate the guidance and disclosures required by the Revenue Recognition Amendments, Piedmont does not anticipate any material impact to its consolidated financial statements as a result of adoption. The FASB has issued Accounting Standards Update No. 2017-05, Other Income—Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets ("ASU 2017-05"). The provisions of ASU 2017-05 define the term "in substance nonfinancial asset" as a financial asset promised to a counterparty in a contract if substantially all of the fair value of the assets (recognized and unrecognized) is concentrated in nonfinancial assets. Further, it states that nonfinancial assets should be derecognized once the counterparty obtains control. Finally, the amendments provide clarification for partial sales of nonfinancial assets. ASU 2017-05 is effective concurrent with the Revenue Recognition Amendments (detailed above), which will be the first quarter of 2018 for Piedmont. Although management continues to evaluate the guidance and disclosures required by ASU 2017-05, Piedmont does not anticipate a material change in how it recognizes the disposition of real estate in its consolidated financial statements as a result of adoption. The FASB has issued Accounting Standards Update No. 2016-01, Financial Instruments - Overall (Subtopic 825-10), Recognition and Measurement of Financial Assets and Financial Liabilities ("ASU 2016-01"). The amendments in ASU 2016-01 require equity investments, except those accounted for under the equity method of accounting, to be measured at estimated fair value with changes in fair value recognized in net income. Additionally, ASU 2016-01 simplifies the impairment assessment of equity investments, and eliminates certain disclosure requirements. The amendments in ASU 2016-01 are effective in the first quarter of 2018, and Piedmont does not anticipate any material impact to its consolidated financial statements as a result of adoption. The FASB has issued Accounting Standards Update No. 2016-18, Statement of Cash Flows (Topic 230), Restricted Cash (a consensus of the FASB Emerging Issues Task Force) ("ASU 2016-18"). The provisions of ASU 2016-18 require entities to show changes in restricted cash and cash equivalents in addition to cash and cash equivalents in the statement of cash flows. As a result, entities will no longer present transfers between restricted and unrestricted cash in the statement of cash flows. Disclosures are required to reconcile the amount presented on the statement of cash flows to the balance sheet, as well as disclosing the nature of restriction on the restricted cash balances. ASU 2016-18 is effective for Piedmont in the first quarter of 2018, with early adoption permitted. Piedmont does not anticipate any material impact to its consolidated financial statements as a result of adoption. The FASB has issued ASU 2016-02, which fundamentally changes the definition of a lease, as well as the accounting for operating leases by requiring lessees to recognize assets and liabilities which arise from the lease, consisting of a liability to make lease payments (the lease liability) and a right-of-use asset, representing the right to use the leased asset over the term of the lease. Accounting for leases by lessors is substantially unchanged from prior practice as lessors will continue to recognize lease revenue on a straight-line basis; however, ASU 2016-02 defines certain tenant reimbursements as non-lease components which will be subject to the guidance under ASU 2014-09. The amendments in ASU 2016-02 are effective in the first quarter of 2019, and Piedmont is currently evaluating the potential impact of adoption. The FASB has issued Accounting Standards Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments ("ASU 2016-13"). The provisions of ASU 2016-13 replace the "incurred loss" approach with an "expected loss" model for impairing trade and other receivables, held-to-maturity debt securities, net investment in leases, and off-balance-sheet credit exposures, which will generally result in earlier recognition of allowances for credit losses. Additionally, the provisions change the classification of credit losses related to available-for-sale securities to an allowance, rather than a direct reduction of the amortized cost of the securities. ASU 2016-13 is effective in the first quarter of 2020, with early adoption permitted as of January 1, 2019. Piedmont is currently evaluating the potential impact of adoption. The FASB has issued Accounting Standards Update No. 2017-04, Intangibles—Goodwill and Other (Topic 350), Simplifying the Test for Goodwill Impairment ("ASU 2017-04"). The provisions of ASU 2017-04 simplify how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test, which is generally performed annually unless events or circumstances arise which would necessitate evaluating the carrying value for impairment in the interim. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a entity’s goodwill with the carrying amount of that goodwill by determining the fair value of its assets and liabilities (including unrecognized assets and liabilities) following the procedures that would be required in a business combination. Under the provisions of ASU 2017-04, an entity would instead recognize an impairment charge for the amount by which the carrying amount exceeds the entity’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that entity. ASU 2017-04 is effective in the first quarter of 2020, with early adoption permitted as of the first interim or annual impairment test of goodwill after January 1, 2017. Piedmont is currently evaluating the potential impact of adoption.

Debt

6 Months Ended

Jun. 30, 2017

Debt Disclosure [Abstract]

Debt

The following table summarizes the terms of Piedmont’s indebtedness outstanding as of June 30, 2017 and December 31, 2016 (in thousands):



Facility ⁽¹⁾	Stated Rate		Effective Rate ⁽²⁾		Maturity		Amount Outstanding as of
Facility ⁽¹⁾	Stated Rate		Effective Rate ⁽²⁾		Maturity		June 30, 2017			December 31, 2016
Secured (Fixed)
$140 Million WDC Fixed-Rate Loans ⁽³⁾	5.76	%	5.76	%	11/1/2017		$	140,000	⁽⁴⁾	$	140,000
$35 Million Fixed-Rate Loan ⁽⁵⁾	5.55	%	3.75	%	9/1/2021		31,133			31,583
$160 Million Fixed-Rate Loan ⁽⁶⁾	3.48	%	3.58	%	7/5/2022		160,000			160,000
Net premium and unamortized debt issuance costs							1,063			1,161
Subtotal/Weighted Average ⁽⁷⁾	4.64	%					332,196			332,744
Unsecured (Variable and Fixed)
$170 Million Unsecured 2015 Term Loan ⁽⁸⁾	LIBOR + 1.125%		2.29	%	5/15/2018		170,000			170,000
$300 Million Unsecured 2013 Term Loan	LIBOR + 1.20%		2.78	%	1/31/2019		300,000			300,000
$500 Million Unsecured 2015 Line of Credit ⁽⁸⁾	LIBOR + 1.00%		2.14	%	6/18/2019	⁽⁹⁾	210,000		⁽¹⁰⁾	178,000
$300 Million Unsecured 2011 Term Loan	LIBOR + 1.15%		3.35	%	1/15/2020		300,000			300,000
$350 Million Senior Notes	3.40	%	3.43	%	6/01/2023		350,000			350,000
$400 Million Senior Notes	4.45	%	4.10	%	3/15/2024		400,000			400,000
Discounts and unamortized debt issuance costs							(9,014)			(10,269)
Subtotal/Weighted Average ⁽⁷⁾	3.26	%					1,720,986			1,687,731
Total/Weighted Average ⁽⁷⁾	3.48	%					$	2,053,182		$	2,020,475


⁽¹⁾	Other than the $35 Million Fixed-Rate Loan, all of Piedmont’s outstanding debt as of June 30, 2017 and December 31, 2016 is interest-only.


⁽²⁾	Effective rate after consideration of settled or in place interest rate swap agreements and/or issuance premiums or discounts.


⁽³⁾	Collateralized by the 1201 and 1225 Eye Street buildings in Washington, D.C.


⁽⁴⁾	On August 1, 2017, Piedmont fully repaid the $140 Million WDC Fixed-Rate Loans without penalty using a portion of the net proceeds from the sale of the Two Independence Square building (see Note 9 and Note 13).


⁽⁵⁾	Collateralized by the 5 Wall Street building in Burlington, Massachusetts.


⁽⁶⁾	Collateralized by the 1901 Market Street building in Philadelphia, Pennsylvania.


⁽⁷⁾	Weighted average is based on contractual balance of outstanding debt and the stated or effectively fixed interest rates in the table as of June 30, 2017.


⁽⁸⁾	On a periodic basis, Piedmont may select from multiple interest rate options, including the prime rate and various-length LIBOR locks. All LIBOR selections are subject to an additional spread over the selected rate based on Piedmont’s current credit rating.


⁽⁹⁾	Piedmont may extend the term for up to one additional year (through two available six month extensions to a final extended maturity date of June 18, 2020) provided Piedmont is not then in default and upon payment of extension fees.


⁽¹⁰⁾	On July 5, 2017, Piedmont repaid the outstanding balance of the $500 Million Unsecured 2015 Line of Credit, using a portion of the net proceeds from the sale of the Two Independence Square building (see Note 9 and Note 13).

Piedmont made interest payments on all debt facilities, including interest rate swap cash settlements, of approximately $16.7 million and $15.4 million for the three months ended June 30, 2017 and 2016, respectively, and approximately $36.0 million and $34.7 million for the six months ended June 30, 2017 and 2016, respectively. Also, Piedmont capitalized interest of approximately $35,000 and $735,000 for the three months ended June 30, 2017 and 2016, respectively, and approximately $0.1 million and $1.9 million for the six months ended June 30, 2017 and 2016, respectively. As of June 30, 2017, Piedmont believes it was in compliance with all financial covenants associated with its debt instruments. See Note 6 for a description of Piedmont’s estimated fair value of debt as of June 30, 2017.

Variable Interest Entities

6 Months Ended

Jun. 30, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Variable Interest Entities

Variable interest holders who have the power to direct the activities of the VIE that most significantly impact the entity’s economic performance and have the obligation to absorb the majority of losses of the entity or the right to receive significant benefits of the entity must consolidate the VIE. Each of the following VIEs has the sole purpose of holding land and office buildings and their resulting operations, and are classified in the accompanying consolidated balance sheets in the same manner as Piedmont’s wholly-owned properties.

A summary of Piedmont’s interests in, and consolidation treatment of, its VIEs and their related carrying values as of June 30, 2017 and December 31, 2016 is as follows (net carrying amount in millions):



Entity	Piedmont’s % Ownership of Entity	Related Building	Consolidated/ Unconsolidated	Net Carrying Amount as of June 30, 2017			Net Carrying Amount as of December 31, 2016			Primary Beneficiary Considerations
1201 Eye Street N.W. Associates, LLC	49.5%	1201 Eye Street	Consolidated	$	(0.9	)	$	(6.7	)	In accordance with the partnership’s governing documents, Piedmont is entitled to 100% of the cash flow of the entity and has sole discretion in directing the management and leasing activities of the building.
1225 Eye Street N.W. Associates, LLC	49.5%	1225 Eye Street	Consolidated	$	8.8		$	9.9		In accordance with the partnership’s governing documents, Piedmont is entitled to 100% of the cash flow of the entity and has sole discretion in directing the management and leasing activities of the building.
Piedmont 500 W. Monroe Fee, LLC	100%	500 W. Monroe	Consolidated	$	267.6		$	262.4		The Omnibus Agreement with the previous owner includes equity participation rights for the previous owner, if certain financial returns are achieved; however, Piedmont has sole decision making authority and is entitled to 100% of the economic benefits of the property until such returns are met.

Derivative Instruments

6 Months Ended

Jun. 30, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

Risk Management Objective of Using Derivatives

In addition to operational risks which arise in the normal course of business, Piedmont is exposed to economic risks such as interest rate, liquidity, and credit risk. In certain situations, Piedmont has entered into derivative financial instruments such as interest rate swap agreements and other similar agreements to manage interest rate risk exposure arising from current or future variable rate debt transactions. Interest rate swap agreements involve the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. Piedmont’s objective in using interest rate derivatives is to add stability to interest expense and to manage its exposure to interest rate movements.

Cash Flow Hedges of Interest Rate Risk

Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for Piedmont making fixed-rate payments over the life of the agreements without changing the underlying notional amount. As of June 30, 2017, Piedmont was party to various interest rate swap agreements, all of which are designated as effective cash flow hedges and fully hedge the variable cash flows associated with its $300 Million Unsecured 2011 Term Loan and its $300 Million Unsecured 2013 Term Loan. The maximum length of time over which Piedmont is hedging its exposure to the variability in future cash flows for forecasted transactions is 30 months.

A detail of Piedmont’s interest rate derivatives outstanding as of June 30, 2017 is as follows:

Interest Rate Derivatives:

Number of Swap Agreements

Associated Debt Instrument

Total Notional Amount

(in millions)

Effective Date

Maturity Date

Interest rate swaps

$300 Million Unsecured 2013 Term Loan

200

1/30/2014

1/31/2019

Interest rate swaps

$300 Million Unsecured 2013 Term Loan

100

8/29/2014

1/31/2019

Interest rate swaps

$300 Million Unsecured 2011 Term Loan

300

11/22/2016

1/15/2020

Total

600

Piedmont presents its interest rate derivatives on its consolidated balance sheets on a gross basis as interest rate swap assets and interest rate swap liabilities. A detail of Piedmont’s interest rate derivatives on a gross and net basis as of June 30, 2017 and December 31, 2016, respectively, is as follows (in thousands):



Interest rate swaps classified as:	June 30, 2017		December 31, 2016
Gross derivative assets	$	—	$	—
Gross derivative liabilities	5,061		8,169
Net derivative liability	$	5,061	$	8,169

The effective portion of Piedmont's interest rate derivatives, including the gain/(loss) on previously settled forward swaps, that was recorded in the accompanying consolidated statements of income for the three and six months ended June 30, 2017 and 2016, respectively, was as follows (in thousands):



	Three Months Ended						Six Months Ended
Interest Rate Swaps in Cash Flow Hedging Relationships	June 30, 2017			June 30, 2016			June 30, 2017		June 30, 2016
Amount of gain/(loss) recognized in OCI	$	(911	)	$	(4,068	)	$	132	$	(15,029	)
Amount of previously recorded loss reclassified from accumulated OCI into interest expense	$	977		$	1,113		$	2,283	$	2,246

Piedmont estimates that approximately $1.7 million will be reclassified from accumulated other comprehensive loss to interest expense over the next twelve months. Piedmont recognized no loss related to hedge ineffectiveness of its cash flow hedges during the three and six months ended June 30, 2017 and 2016, respectively.

Additionally, see Note 6 for fair value disclosures of Piedmont's derivative instruments.

Credit-risk-related Contingent Features

Piedmont has agreements with its derivative counterparties that contain a provision whereby if Piedmont defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then Piedmont could also be declared in default on its derivative obligations. If Piedmont were to breach any of the contractual provisions of the derivative contracts, it could be required to settle its obligations under the agreements at their termination value of the estimated fair values plus accrued interest, or approximately $5.2 million as of June 30, 2017. Additionally, Piedmont has rights of set-off under certain of its derivative agreements related to potential termination fees and amounts payable under the agreements, if a termination were to occur.

Fair Value Measurement of Financial Instruments

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

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-Name Accounting Standards Codification
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+ Details

Fair Value Measurement of Financial Instruments

6 Months Ended

Jun. 30, 2017

Fair Value Disclosures [Abstract]

Piedmont considers its cash and cash equivalents, tenant receivables, restricted cash and escrows, accounts payable and accrued expenses, interest rate swap agreements, and debt to meet the definition of financial instruments. The following table sets forth the carrying and estimated fair value for each of Piedmont’s financial instruments, as well as its level within the GAAP fair value hierarchy, as of June 30, 2017 and December 31, 2016, respectively (in thousands):



	June 30, 2017					December 31, 2016
Financial Instrument	Carrying Value		Estimated Fair Value		Level Within Fair Value Hierarchy	Carrying Value		Estimated Fair Value		Level Within Fair Value Hierarchy
Assets:
Cash and cash equivalents⁽¹⁾	$	9,596	$	9,596	Level 1	$	6,992	$	6,992	Level 1
Tenant receivables, net⁽¹⁾	$	24,269	$	24,269	Level 1	$	26,494	$	26,494	Level 1
Restricted cash and escrows⁽¹⁾	$	1,290	$	1,290	Level 1	$	1,212	$	1,212	Level 1
Liabilities:
Accounts payable and accrued expenses⁽¹⁾	$	12,935	$	12,935	Level 1	$	44,733	$	44,733	Level 1
Interest rate swap	$	5,061	$	5,061	Level 2	$	8,169	$	8,169	Level 2
Debt, net	$	2,053,182	$	2,081,120	Level 2	$	2,020,475	$	2,027,436	Level 2


⁽¹⁾	For the periods presented, the carrying value of these financial instruments approximates estimated fair value due to their short-term maturity.

Piedmont's debt was carried at book value as of June 30, 2017 and December 31, 2016; however, Piedmont's estimate of its estimated fair value is disclosed in the table above. Piedmont uses widely accepted valuation techniques including discounted cash flow analysis based on the contractual terms of the debt facilities, including the period to maturity of each instrument, and uses observable market-based inputs for similar debt facilities which have transacted recently in the market. Therefore, the estimated fair values determined are considered to be based on significant other observable inputs (Level 2). Scaling adjustments are made to these inputs to make them applicable to the remaining life of Piedmont's outstanding debt. Piedmont has not changed its valuation technique for estimating the fair value of its debt.

Piedmont’s interest rate swap and forward starting interest rate swap agreements presented above, and further discussed in Note 5, are classified as “Interest rate swap” liabilities in the accompanying consolidated balance sheets and were carried at estimated fair value as of June 30, 2017 and December 31, 2016. The valuation of these derivative instruments was determined using widely accepted valuation techniques including discounted cash flow analysis based on the contractual terms of the derivatives, including the period to maturity of each instrument, and uses observable market-based inputs, including interest rate curves and implied volatilities. Therefore, the estimated fair values determined are considered to be based on significant other observable inputs (Level 2). In addition, Piedmont considered both its own and the respective counterparties’ risk of nonperformance in determining the estimated fair value of its derivative financial instruments by estimating the current and potential future exposure under the derivative financial instruments that both Piedmont and the counterparties were at risk for as of the valuation date. The credit risk of Piedmont and its counterparties was factored into the calculation of the estimated fair value of the interest rate swaps; however, as of June 30, 2017 and December 31, 2016, this credit valuation adjustment did not comprise a material portion of the estimated fair value. Therefore, Piedmont believes that any unobservable inputs used to determine the estimated fair values of its derivative financial instruments are not significant to the fair value measurements in their entirety, and does not consider any of its derivative financial instruments to be Level 3 liabilities.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Impairment Loss on Real Estate Assets

Impairment Loss on Real Estate Assets

6 Months Ended

Jun. 30, 2017

Real Estate [Abstract]

Piedmont recorded impairment loss on real estate assets for the three and six months ended June 30, 2017 and 2016, respectively, as follows (in thousands):



	Three Months Ended				Six Months Ended
	2017		2016		2017		2016
150 West Jefferson⁽¹⁾	$	—	$	8,259	$	—	$	8,259
9221 Corporate Boulevard ⁽²⁾	—		2,691		—		2,691
Total impairment loss on real estate assets⁽³⁾	$	—	$	10,950	$	—	$	10,950


⁽¹⁾	Piedmont recognized an impairment loss on real estate assets based upon the difference between the carrying value of the asset and the anticipated contract sales price, less estimated selling costs.

⁽²⁾

Piedmont, using a probability-weighted model heavily weighted towards the short-term sale of the 9221 Corporate Boulevard building in Rockville, Maryland, determined that the carrying value would not be recovered from the undiscounted future operating cash flows expected from the use of the asset and its eventual disposition. As a result, Piedmont recognized a loss on impairment of approximately $2.7 million during the six months ended June 30, 2016 calculated as the difference between the carrying value of the asset and the anticipated contract sales price, less estimated selling costs.


⁽³⁾	The fair value measurements used in the evaluation of the non-financial assets above are considered to be Level 1 valuations within the fair value hierarchy as defined by GAAP, as there are direct observations and transactions involving the assets by unrelated, third-party purchasers.

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments Under Existing Lease Agreements Under its existing lease agreements, Piedmont may be required to fund significant tenant improvements, leasing commissions, and building improvements. In addition, certain agreements contain provisions that require Piedmont to issue corporate or property guarantees to provide funding for capital improvements or other financial obligations. Piedmont classifies its capital improvements into two categories: (i) improvements which maintain the building's existing asset value and its revenue generating capacity (“non-incremental capital expenditures”) and (ii) improvements which incrementally enhance the building's asset value by expanding its revenue generating capacity (“incremental capital expenditures”). As of June 30, 2017, commitments to fund potential non-incremental capital expenditures over the next five years for tenant improvements totaled approximately $31.4 million related to Piedmont's existing lease portfolio over the respective lease terms, the majority of which Piedmont estimates may be required to be funded over the next three years based on when the underlying leases commence. For most of Piedmont’s leases, the timing of the actual funding of these tenant improvements is largely dependent upon tenant requests for reimbursement. In some cases, these obligations may expire with the leases without further recourse to Piedmont. As of June 30, 2017, commitments for incremental capital expenditures for tenant improvements associated with executed leases totaled approximately $13.2 million. Contingencies Related to Tenant Audits/Disputes Certain lease agreements include provisions that grant tenants the right to engage independent auditors to audit their annual operating expense reconciliations. Such audits may result in the re-interpretation of language in the lease agreements which could result in the refund of previously recognized tenant reimbursement revenues, resulting in financial loss to Piedmont. Piedmont recorded $20,000 and $0 of such reductions in reimbursement revenues related to such tenant audits/disputes during the three months ended June 30, 2017 and 2016, respectively, and $0.3 million and $0 of such reductions in reimbursement revenues related to such tenant audits/disputes during the six months ended June 30, 2017 and 2016, respectively.

Property Dispositions, Assets Held for Sale, and Discontinued Operations

6 Months Ended

Jun. 30, 2017

Discontinued Operations and Disposal Groups [Abstract]

Property Dispositions, Assets Held for Sale, and Discontinued Operations

Properties sold during the six months ended June 30, 2017 and 2016 did not meet the criteria to be reported as discontinued operations. The operational results for these properties prior to their sale dates are presented as continuing operations in the accompanying consolidated statements of income, and the gain/(loss) on sale is presented separately on the face of the income statement. Details of such properties sold are presented below (in thousands):



Buildings Sold⁽¹⁾	Location	Date of Sale	Gain/(Loss) on Sale		Net Sales Proceeds
1055 East Colorado Boulevard	Pasadena, California	April 21, 2016	$	29,462	$	60,076
Fairway Center II	Brea, California	April 28, 2016	$	14,406	$	33,062
1901 Main Street	Irvine, California	May 2, 2016	$	29,964	$	63,149
Sarasota Commerce Center II	Sarasota, Florida	June 16, 2017	$	6,497	$	23,094

Assets Held for Sale

In February 2017, Piedmont reclassified the Two Independence Square building from real estate assets held for use to real estate assets held for sale as a result of entering into a binding agreement to sell the property. The sale of the Two Independence Square building closed on July 5, 2017. Details of assets held for sale as of June 30, 2017 and December 31, 2016 are presented below (in thousands):



	June 30, 2017		December 31, 2016
Real estate assets held for sale, net:
Land	$	52,710	$	52,710
Building and improvements, less accumulated depreciation of $89,187 and $88,319 as of June 30, 2017 and December 31, 2016, respectively	172,350		173,218
Construction in progress	11		11
Total real estate assets held for sale, net	$	225,071	$	225,939

Other assets held for sale, net:
Straight-line rent receivables	$	2,225	$	2,059
Prepaid expenses and other assets	762		454
Deferred lease costs, less accumulated amortization of $2,892 and $2,825 as of June 30, 2017 and December 31, 2016, respectively	7,235		7,302
Total other assets held for sale, net	$	10,222	$	9,815

Details comprising loss from discontinued operations activity for the three and six months ended ended June 30, 2017 and 2016 are presented below (in thousands):



	Three Months Ended					Six Months Ended
	June 30, 2017		June 30, 2016			June 30, 2017		June 30, 2016
Revenues:
Rental income	$	—	$	—		$	—	$	—
Tenant reimbursements	—		—			—		—
	—		—			—		—
Expenses:
Property operating costs	—		—			—		—
General and administrative	—		1			—		1
	—		1			—		1

Operating income	—		(1		)	—		(1		)
Loss on sale of real estate assets	—		—			—		—
Income from discontinued operations	$	—	$	(1	)	$	—	$	(1	)

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

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+ Details

Stock Based Compensation

6 Months Ended

Jun. 30, 2017

Stock Based Compensation

The Compensation Committee of Piedmont's Board of Directors has periodically granted deferred stock awards to all of Piedmont's employees and independent directors. The awards typically vest ratably over a multi-year period, or one year for independent director awards. Certain employees' long-term equity incentive program is split equally between the time-vested awards described above and a multi-year performance share program whereby awards may be earned based upon Piedmont's total stockholder return ("TSR") relative to a peer group's TSR. The peer group is predetermined by the Board of Directors. Any shares earned are awarded at the end of the multi-year performance period and vest upon award.

A rollforward of Piedmont's equity based award activity for the six months ended June 30, 2017 is as follows:



	Shares		Weighted-Average Grant Date Fair Value
Unvested Stock Awards as of December 31, 2016	944,223		$	19.44
Deferred Stock Awards Granted	299,251		$	21.38
Increase in Estimated Potential Future Performance Share Awards, net of forfeitures	150,537		$	28.37
Performance Stock Awards Vested	(118,446	)	$	22.00
Deferred Stock Awards Vested	(301,921	)	$	19.35
Deferred Stock Awards Forfeited	(4,761	)	$	19.57
Unvested Stock Awards as of June 30, 2017	968,883		$	21.94

The following table provides additional information regarding stock award activity during the three and six months ended June 30, 2017 and 2016, respectively (in thousands, except per share amounts):



	Three Months Ended				Six Months Ended
	June 30, 2017		June 30, 2016		June 30, 2017		June 30, 2016
Weighted-Average Grant Date Fair Value of Deferred Stock Granted During the Period	$	21.38	$	19.96	$	21.38	$	19.96
Total Grant Date Fair Value of Deferred Stock Vested During the Period	$	5,551	$	4,319	$	5,841	$	4,659
Share-based Liability Awards Paid During the Period⁽¹⁾	$	—	$	—	$	2,877	$	1,127


⁽¹⁾	Amounts reflect the issuance of performance share awards related to the 2014-16 and 2013-15 Performance Share Plans during the six months ended June 30, 2017 and 2016, respectively.

A detail of Piedmont’s outstanding stock awards as of June 30, 2017 is as follows:



Date of grant	Type of Award	Net Shares Granted ⁽¹⁾	Grant Date Fair Value		Vesting Schedule	Unvested Shares as of June 30, 2017
January 3, 2014	Deferred Stock Award	86,769	$	16.56	Of the shares granted, 20% vested or will vest on January 3, 2015, 2016, 2017, 2018, and 2019, respectively.	35,094
May 1, 2015	Deferred Stock Award	216,919	$	17.59	Of the shares granted, 25% vested on the date of grant, and 25% vested or will vest on May 1, 2016, 2017, and 2018, respectively.	67,747
May 1, 2015	Fiscal Year 2015-2017 Performance Share Program	—	$	18.42	Shares awarded, if any, will vest immediately upon determination of award in 2018.	229,828	⁽²⁾
May 24, 2016	Deferred Stock Award	233,073	$	19.91	Of the shares granted, 25% vested on the date of grant, and 25% vested or will vest on May 24, 2017, 2018, and 2019, respectively.	134,117
May 24, 2016	Fiscal Year 2016-2018 Performance Share Program	—	$	23.02	Shares awarded, if any, will vest immediately upon determination of award in 2019.	85,792	⁽²⁾
May 18, 2017	Deferred Stock Award-Board of Directors	26,187	$	21.38	Of the shares granted, 100% will vest by May 18, 2018.	26,187
May 18, 2017	Deferred Stock Award	246,808	$	21.38	Of the shares granted, 25% vested on the date of grant, and 25% vested or will vest on May 18, 2018, 2019, and 2020, respectively.	202,233
May 18, 2017	Fiscal Year 2017-2019 Performance Share Program	—	$	30.45	Shares awarded, if any, will vest immediately upon determination of award in 2020.	187,885	⁽²⁾
Total						968,883


⁽¹⁾	Amounts reflect the total grant to employees and independent directors, net of shares surrendered upon vesting to satisfy required minimum tax withholding obligations through June 30, 2017.


⁽²⁾	Estimated based on Piedmont's cumulative TSR for the respective performance period through June 30, 2017. Share estimates are subject to change in future periods based on both Piedmont's and its peers' stock performance and dividends paid.

During the three months ended June 30, 2017 and 2016, Piedmont recognized approximately $2.6 million and $3.2 million of compensation expense related to stock awards, of which $1.1 million and $1.7 million related to the amortization of unvested shares, respectively. During the six months ended June 30, 2017 and 2016, Piedmont recognized approximately $5.7 million and $5.7 million of compensation expense related to stock awards, of which $3.9 million and $4.2 million related to the amortization of unvested shares, respectively. During the six months ended June 30, 2017, a net total of 254,532 shares were issued to employees and independent directors. As of June 30, 2017, approximately $6.4 million of unrecognized compensation cost related to unvested deferred stock awards remained, which Piedmont will record in its consolidated statements of income over a weighted-average vesting period of approximately two years.

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Earnings Per Share

6 Months Ended

Jun. 30, 2017

Earnings Per Share [Abstract]

Earnings Per Share

There are no adjustments to “Net income applicable to Piedmont” for the diluted earnings per share computations. Adjustments to the carrying amount of non-controlling interest as a result of the measurement of a redeemable equity participation do not impact net income or comprehensive income; rather such adjustments are treated as the repurchase of a non-controlling interest.

Net income per share-basic is calculated as net income available to common stockholders divided by the weighted average number of common shares outstanding during the period. Net income per share-diluted is calculated as net income available to common stockholders divided by the diluted weighted average number of common shares outstanding during the period, including unvested deferred stock awards. Diluted weighted average number of common shares reflects the potential dilution under the treasury stock method that would occur if the remaining unvested deferred stock awards vested and resulted in additional common shares outstanding. Unvested deferred stock awards which are determined to be anti-dilutive are not included in the calculation of diluted weighted average common shares.

The following table reconciles the denominator for the basic and diluted earnings per share computations shown on the consolidated statements of income for the three and six months ended June 30, 2017 and 2016, respectively (in thousands):



	Three Months Ended		Six Months Ended
	June 30, 2017	June 30, 2016	June 30, 2017	June 30, 2016
Weighted-average common shares – basic	145,413	145,179	145,350	145,228
Plus: Incremental weighted-average shares from time-vested deferred and performance stock awards	400	520	430	537
Weighted-average common shares – diluted	145,813	145,699	145,780	145,765

Common stock issued and outstanding as of period end			145,490	145,230

Guarantor and Non-Guarantor Financial Information

6 Months Ended

Jun. 30, 2017

Guarantor and Non-Guarantor Financial Information

The following condensed consolidating financial information for Piedmont Operating Partnership, L.P. (the "Issuer"), Piedmont Office Realty Trust, Inc. (the "Guarantor"), and the other directly and indirectly owned subsidiaries of the Guarantor (the "Non-Guarantor Subsidiaries") is provided pursuant to the requirements of Rule 3-10 of Regulation S-X regarding financial statements of guarantors and issuers of guaranteed registered securities. The Issuer is a wholly-owned subsidiary of the Guarantor, and all guarantees by the Guarantor of securities issued by the Issuer are full and unconditional. The principal elimination entries relate to investments in subsidiaries and intercompany balances and transactions, including transactions with the Non-Guarantor Subsidiaries.



Condensed Consolidated Balance Sheets
As of June 30, 2017
(in thousands)	Issuer		Guarantor			Non-Guarantor Subsidiaries		Eliminations			Consolidated
Assets:
Real estate assets, at cost:
Land	$	43,929	$	—		$	571,005	$	—		$	614,934
Buildings and improvements, less accumulated depreciation	209,091		—			2,533,536		(300		)	2,742,327
Intangible lease assets, less accumulated amortization	453		—			84,536		—			84,989
Construction in progress	572		—			15,079		—			15,651
Real estate assets held for sale, net	—		—			225,071		—			225,071
Total real estate assets	254,045		—			3,429,227		(300		)	3,682,972
Investments in and amounts due from unconsolidated joint ventures	7,762		—			—		—			7,762
Cash and cash equivalents	5,181		150			4,265		—			9,596
Tenant and straight-line rent receivables, net	17,266		—			184,466		—			201,732
Advances to affiliates	6,465,350		1,316,446			—		(7,781,796		)	—
Investment in subsidiary	—		3,569,494			178		(3,569,672		)	—
Notes receivable	88,910		—			95,790		(184,700		)	—
Prepaid expenses, restricted cash, escrows, and other assets	5,007		76			26,752		(1,091		)	30,744
Goodwill	98,918		—			—		—			98,918
Deferred lease costs, net	14,500		—			263,866		—			278,366
Other assets held for sale, net	—		—			10,222		—			10,222
Total assets	$	6,956,939	$	4,886,166		$	4,014,766	$	(11,537,559	)	$	4,320,312
Liabilities:
Debt, net	$	1,735,196	$	—		$	502,686	$	(184,700	)	$	2,053,182
Accounts payable, accrued expenses, and accrued capital expenditures	16,328		565			95,209		(1,091		)	111,011
Advances from affiliates	729,007		5,100,839			2,050,205		(7,880,051		)	—
Deferred income	2,934		—			24,482		—			27,416
Intangible lease liabilities, net	—		—			43,328		—			43,328
Interest rate swaps	5,061		—			—		—			5,061
Total liabilities	2,488,526		5,101,404			2,715,910		(8,065,842		)	2,239,998
Stockholders’ Equity:
Common stock	—		1,455			—		—			1,455
Additional paid-in capital	3,565,494		3,678,434			1,306		(3,569,672		)	3,675,562
Retained/(cumulative distributions in excess of) earnings	898,372		(3,895,127		)	1,295,681		97,955			(1,603,119		)
Other comprehensive loss	4,547		—			—		—			4,547
Piedmont stockholders’ equity	4,468,413		(215,238		)	1,296,987		(3,471,717		)	2,078,445
Noncontrolling interest	—		—			1,869		—			1,869
Total stockholders’ equity	4,468,413		(215,238		)	1,298,856		(3,471,717		)	2,080,314
Total liabilities and stockholders’ equity	$	6,956,939	$	4,886,166		$	4,014,766	$	(11,537,559	)	$	4,320,312



Condensed Consolidated Balance Sheets
As of December 31, 2016
(in thousands)	Issuer		Guarantor			Non-Guarantor Subsidiaries		Eliminations			Consolidated
Assets:
Real estate assets, at cost:
Land	$	46,133	$	—		$	571,005	$	—		$	617,138
Buildings and improvements, less accumulated depreciation	228,194		—			2,526,212		(300		)	2,754,106
Intangible lease assets, less accumulated amortization	725		—			98,970		—			99,695
Construction in progress	145		—			34,669		—			34,814
Real estate assets held for sale, net	—		—			225,939		—			225,939
Total real estate assets	275,197		—			3,456,795		(300		)	3,731,692
Investments in and amounts due from unconsolidated joint ventures	7,360		—			—		—			7,360
Cash and cash equivalents	3,674		150			3,168		—			6,992
Tenant and straight-line rent receivables, net	20,159		—			170,124		—			190,283
Advances to affiliates	6,464,135		1,315,616			—		(7,779,751		)	—
Investment in subsidiary	—		3,630,564			181		(3,630,745		)	—
Notes receivable	88,910		—			95,790		(184,700		)	—
Prepaid expenses, restricted cash, escrows, and other assets	6,189		—			20,121		(1,897		)	24,413
Goodwill	98,918		—			—		—			98,918
Deferred lease costs, net	16,550		—			282,145		—			298,695
Other assets held for sale, net	—		—			9,815		—			9,815
Total assets	$	6,981,092	$	4,946,330		$	4,038,139	$	(11,597,393	)	$	4,368,168
Liabilities:
Debt, net	$	1,701,933	$	—		$	503,242	$	(184,700	)	$	2,020,475
Accounts payable, accrued expenses, and accrued capital expenditures	17,365		31,230			118,712		(1,897		)	165,410
Advances from affiliates	708,340		5,071,521			2,098,146		(7,878,007		)	—
Deferred income	5,206		—			23,200		—			28,406
Intangible lease liabilities, net	—		—			48,005		—			48,005
Interest rate swaps	8,169		—			—		—			8,169
Total liabilities	2,441,013		5,102,751			2,791,305		(8,064,604		)	2,270,465
Stockholders’ Equity:
Common stock	—		1,452			—		—			1,452
Additional paid-in capital	3,626,564		3,676,000			1,309		(3,630,745		)	3,673,128
Retained/(cumulative distributions in excess of) earnings	911,411		(3,833,873		)	1,243,643		97,956			(1,580,863		)
Other comprehensive income	2,104		—			—		—			2,104
Piedmont stockholders’ equity	4,540,079		(156,421		)	1,244,952		(3,532,789		)	2,095,821
Noncontrolling interest	—		—			1,882		—			1,882
Total stockholders’ equity	4,540,079		(156,421		)	1,246,834		(3,532,789		)	2,097,703
Total liabilities and stockholders’ equity	$	6,981,092	$	4,946,330		$	4,038,139	$	(11,597,393	)	$	4,368,168



Condensed Consolidated Statements of Income
For the three months ended June 30, 2017
(in thousands)	Issuer			Guarantor			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Rental income	$	11,092		$	—		$	113,641		$	(485	)	$	124,248
Tenant reimbursements	2,964			—			21,207			(127		)	24,044
Property management fee revenue	—			—			4,577			(4,190		)	387
	14,056			—			139,425			(4,802		)	148,679
Expenses:
Property operating costs	5,853			—			54,728			(4,802		)	55,779
Depreciation	3,281			—			26,778			—			30,059
Amortization	803			—			18,511			—			19,314
General and administrative	1,528			81			6,427			—			8,036
	11,465			81			106,444			(4,802		)	113,188
Real estate operating income/(loss)	2,591			(81		)	32,981			—			35,491
Other income (expense):
Interest expense	(14,810		)	—			(7,262		)	3,651			(18,421		)
Other income/(expense)	2,240			—			1,449			(3,651		)	38
Equity in income of unconsolidated joint ventures	107			—			—			—			107
	(12,463		)	—			(5,813		)	—			(18,276		)
Income/(loss) from continuing operations	(9,872		)	(81		)	27,168			—			17,215
Discontinued operations:
Operating income	—			—			—			—			—
Income from discontinued operations	—			—			—			—			—
Gain/(loss) on sale of real estate assets, net	6,495			—			(3		)	—			6,492
Net income/(loss)	(3,377		)	(81		)	27,165			—			23,707
Less: Net loss applicable to noncontrolling interest	—			—			3			—			3
Net income/(loss) applicable to Piedmont	$	(3,377	)	$	(81	)	$	27,168		$	—		$	23,710



Condensed Consolidated Statements of Income
For the three months ended June 30, 2016
(in thousands)	Issuer			Guarantor			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Rental income	$	14,661		$	—		$	97,860		$	(754	)	$	111,767
Tenant reimbursements	3,753			—			19,409			(76		)	23,086
Property management fee revenue	—			—			4,178			(3,724		)	454
	18,414			—			121,447			(4,554		)	135,307
Expenses:
Property operating costs	8,319			—			48,568			(4,595		)	52,292
Depreciation	4,476			—			27,080			—			31,556
Amortization	941			—			16,461			—			17,402
Impairment loss on real estate assets	8,258			—			2,692			—			10,950
General and administrative	8,107			92			10,213			(10,096		)	8,316
	30,101			92			105,014			(14,691		)	120,516
Real estate operating income/(loss)	(11,687		)	(92		)	16,433			10,137			14,791
Other income (expense):
Interest expense	(12,170		)	—			(6,666		)	2,423			(16,413		)
Other income/(expense)	1,735			282			365			(2,423		)	(41		)
Equity in income of unconsolidated joint ventures	110			—			—			—			110
	(10,325		)	282			(6,301		)	—			(16,344		)
Income/(loss) from continuing operations	(22,012		)	190			10,132			10,137			(1,553		)
Discontinued operations:
Operating loss	—			—			(1		)	—			(1		)
Loss from discontinued operations	—			—			(1		)	—			(1		)
Gain on sale of real estate assets, net	29,966			—			43,869			—			73,835
Net income	7,954			190			54,000			10,137			72,281
Less: Net income applicable to noncontrolling interest	—			—			(3		)	—			(3		)
Net income applicable to Piedmont	$	7,954		$	190		$	53,997		$	10,137		$	72,278



Condensed Consolidated Statements of Income
For the six months ended June 30, 2017
(in thousands)	Issuer			Guarantor			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Rental income	$	22,517		$	—		$	226,125		$	(944	)	$	247,698
Tenant reimbursements	5,964			—			42,810			(230		)	48,544
Property management fee revenue	—			—			9,201			(8,301		)	900
	28,481			—			278,136			(9,475		)	297,142
Expenses:
Property operating costs	11,655			—			108,983			(9,475		)	111,163
Depreciation	6,744			—			54,083			—			60,827
Amortization	1,659			—			38,070			—			39,729
General and administrative	3,231			183			13,218			—			16,632
	23,289			183			214,354			(9,475		)	228,351
Real estate operating income/(loss)	5,192			(183		)	63,782			—			68,791
Other income (expense):
Interest expense	(29,254		)	—			(14,514		)	7,290			(36,478		)
Other income/(expense)	4,469			—			2,759			(7,290		)	(62		)
Equity in income of unconsolidated joint ventures	118			—			—			—			118
	(24,667		)	—			(11,755		)	—			(36,422		)
Income/(loss) from continuing operations	(19,475		)	(183		)	52,027			—			32,369
Discontinued operations:
Operating income	—			—			—			—			—
Income from discontinued operations	—			—			—			—			—
Gain on sale of real estate assets, net	6,434			—			5			—			6,439
Net income/(loss)	(13,041		)	(183		)	52,032			—			38,808
Less: Net loss applicable to noncontrolling interest	—			—			6			—			6
Net income/(loss) applicable to Piedmont	$	(13,041	)	$	(183	)	$	52,038		$	—		$	38,814



Condensed Consolidated Statements of Income
For the six months ended June 30, 2016
(in thousands)	Issuer			Guarantor			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Rental income	$	30,127		$	—		$	197,896		$	(1,518	)	$	226,505
Tenant reimbursements	7,026			—			38,980			(169		)	45,837
Property management fee revenue	—			—			8,495			(7,518		)	977
	37,153			—			245,371			(9,205		)	273,319
Expenses:
Property operating costs	16,762			—			99,083			(9,274		)	106,571
Depreciation	9,376			—			53,962			—			63,338
Amortization	1,991			—			33,217			—			35,208
Impairment loss of real estate assets	8,259			—			2,691			—			10,950
General and administrative	15,615			168			19,864			(19,558		)	16,089
	52,003			168			208,817			(28,832		)	232,156
Real estate operating income/(loss)	(14,850		)	(168		)	36,554			19,627			41,163
Other income (expense):
Interest expense	(24,360		)	—			(13,404		)	4,966			(32,798		)
Other income/(expense)	4,400			282			537			(4,966		)	253
Equity in income of unconsolidated joint ventures	225			—			—			—			225
	(19,735		)	282			(12,867		)	—			(32,320		)
Net income/(loss)	(34,585		)	114			23,687			19,627			8,843
Discontinued operations:
Operating loss	—			—			(1		)	—			(1		)
Loss from discontinued operations	—			—			(1		)	—			(1		)
Gain on sale of real estate assets, net	29,962			—			43,853			—			73,815
Net income/(loss)	(4,623		)	114			67,539			19,627			82,657
Less: Net income applicable to noncontrolling interest	—			—			(7		)	—			(7		)
Net income/(loss) applicable to Piedmont	$	(4,623	)	$	114		$	67,532		$	19,627		$	82,650



Condensed Consolidated Statements of Cash Flows
For the six months ended June 30, 2017
(in thousands)	Issuer			Guarantor			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Net Cash Provided by/(Used in) Operating Activities	$	(10,028	)	$	3,091		$	118,599		$	—	$	111,662

Cash Flows from Investing Activities:
Investment in real estate assets, consolidated joint venture, and real estate related intangibles, net of accruals	(757		)	—			(57,563		)	—		(58,320		)
Net sales proceeds from wholly-owned properties	23,032			—			(9		)	—		23,023
Investments in unconsolidated joint ventures	(284		)	—			—			—		(284		)
Deferred lease costs paid	(736		)	—			(8,827		)	—		(9,563		)
Net cash provided by/(used in) investing activities	21,255			—			(66,399		)	—		(45,144		)
Cash Flows from Financing Activities:
Debt issuance costs paid	(102		)	—			—			—		(102		)
Proceeds from debt	147,000			—			—			—		147,000
Repayments of debt	(115,000		)	—			(694		)	—		(115,694		)
Costs of issuance of common stock	—			(74		)	—			—		(74		)
Shares withheld to pay tax obligations related to employee stock compensation	—			(3,380		)	—			—		(3,380		)
(Distributions to)/repayments from affiliates	(41,618		)	92,020			(50,402		)	—		—
Dividends paid and discount on dividend reinvestments	—			(91,657		)	(7		)	—		(91,664		)
Net cash used in financing activities	(9,720		)	(3,091		)	(51,103		)	—		(63,914		)
Net increase in cash and cash equivalents	1,507			—			1,097			—		2,604
Cash and cash equivalents, beginning of period	3,674			150			3,168			—		6,992
Cash and cash equivalents, end of period	$	5,181		$	150		$	4,265		$	—	$	9,596



Condensed Consolidated Statements of Cash Flows
For the six months ended June 30, 2016
(in thousands)	Issuer			Guarantor			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net Cash Provided by/(Used in) Operating Activities	$	(14,105	)	$	3,075		$	94,146		$	19,628		$	102,744

Cash Flows from Investing Activities:
Investment in real estate assets and real estate related intangibles, net of accruals	(13,062		)	—			(51,360		)	—			(64,422		)
Intercompany note receivable	—			—			9,600			(9,600		)	—
Net sales proceeds from wholly-owned properties	108,550			—			93,140			—			201,690
Deferred lease costs paid	(1,712		)	—			(4,554		)	—			(6,266		)
Net cash provided by/(used in) investing activities	93,776			—			46,826			(9,600		)	131,002
Cash Flows from Financing Activities:
Debt issuance costs paid	(138		)	—			—			—			(138		)
Proceeds from debt	211,000			—			—			—			211,000
Repayments of debt	(232,000		)	—			(125,597		)	—			(357,597		)
Intercompany note payable	(9,600		)	—			—			9,600			—
Costs of issuance of common stock	—			(42		)	—			—			(42		)
Shares withheld to pay tax obligations related to employee stock compensation	—			(2,283		)	—			—			(2,283		)
Repurchases of common stock as part of announced plan	—			(7,943		)	—			—			(7,943		)
(Distributions to)/repayments from affiliates	(34,837		)	68,259			(13,794		)	(19,628		)	—
Dividends paid and discount on dividend reinvestments	—			(61,066		)	(9		)	—			(61,075		)
Net cash used in financing activities	(65,575		)	(3,075		)	(139,400		)	(10,028		)	(218,078		)
Net increase in cash and cash equivalents	14,096			—			1,572			—			15,668
Cash and cash equivalents, beginning of period	2,174			150			3,117			—			5,441
Cash and cash equivalents, end of period	$	16,270		$	150		$	4,689		$	—		$	21,109

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Third Quarter Dividend Declaration On August 1, 2017, the Board of Directors of Piedmont declared dividends for the third quarter 2017 in the amount of $0.21 per common share outstanding to stockholders of record as of the close of business on August 25, 2017. Such dividends are to be paid on September 15, 2017. Dispositions On July 5, 2017, Piedmont sold the Two Independence Square building, located at 300 E Street, S.W. in Washington. D.C., for approximately $360 million, or $593 per square foot. The 606,000 square foot, 9-story, office building is 100% leased and has served as the headquarters for the National Aeronautics and Space Administration since its construction. On July 27, 2017, Piedmont sold the 8560 Upland Drive building in Englewood, Colorado. The building was the last property owned in the unconsolidated joint venture (Fund XIII and REIT Joint Venture). Piedmont's share of the purchase price was approximately $12.7 million.

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation	The consolidated financial statements of Piedmont have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”), including the instructions to Form 10-Q and Article 10 of Regulation S-X, and do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the statements for the unaudited interim periods presented include all adjustments, which are of a normal and recurring nature, necessary for a fair presentation of the results for such periods. Results for these interim periods are not necessarily indicative of a full year’s results.
Principles of Consolidation	Piedmont’s consolidated financial statements include the accounts of Piedmont, Piedmont’s wholly-owned subsidiaries, any variable interest entity ("VIE") for which Piedmont or any of its wholly-owned subsidiaries is considered to have the power to direct the activities of the entity and the obligation to absorb losses/right to receive benefits, or any entity in which Piedmont or any of its wholly-owned subsidiaries owns a controlling interest. In determining whether Piedmont or Piedmont OP has a controlling interest, the following factors, among others, are considered: equity ownership, voting rights, protective rights of investors, and participatory rights of investors. For further information, refer to the financial statements and footnotes included in Piedmont’s Amended Annual Report on Form 10-K/A for the year ended December 31, 2016. All intercompany balances and transactions have been eliminated upon consolidation. Further, Piedmont has formed special purpose entities to acquire and hold real estate. Each special purpose entity is a separate legal entity. Consequently, the assets of these special purpose entities are not available to all creditors of Piedmont. The assets owned by these special purpose entities are being reported on a consolidated basis with Piedmont’s assets for financial reporting purposes only.
Use of Estimates	Use of Estimates 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. Actual results could differ from those estimates.
Income Taxes	Income Taxes Piedmont has elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended, and has operated as such, beginning with its taxable year ended December 31, 1998. To qualify as a REIT, Piedmont must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of its annual REIT taxable income. As a REIT, Piedmont is generally not subject to federal income taxes, subject to fulfilling, among other things, this distribution requirement. Piedmont is subject to certain taxes related to the operations of properties in certain locations, as well as operations conducted by its taxable REIT subsidiary, POH, which have been provided for in the financial statements.
Reclassifications	Reclassifications Certain prior period amounts presented in Piedmont's Amended Annual Report on Form 10-K/A for the year ended December 31, 2016 have been reclassified to conform to the current period financial statement presentation. The reclassifications relate to the Two Independence Square building, located in Washington, D.C., which was first classified as held for sale as of March 31, 2017, and continues to be presented as held for sale as of June 30, 2017. Applicable balances related to the same asset have been reclassified as held for sale as of December 31, 2016.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Financial Accounting Standards Board (the "FASB") has issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09") and Accounting Standards Update No. 2016-08, Revenue from Contracts with Customers (Topic 606) Principal versus Agent Considerations (Reporting Revenue Gross versus Net) ("ASU 2016-08"). The amendments in ASU 2014-09, which are further clarified in ASU 2016-08, as well as Accounting Standards Update 2016-10, Accounting Standards Update 2016-12, and Accounting Standards Update 2016-20 (collectively the "Revenue Recognition Amendments"), change the criteria for the recognition of certain revenue streams to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services using a five-step determination process. Steps 1 through 5 involve (i) identifying contracts with a customer, (ii) identifying the performance obligations in the contract, (iii) determining the transaction price, (iv) allocating the transaction price to the performance obligations, and (v) recognizing revenue as an entity satisfies a performance obligation. The revenues impacted by the Revenue Recognition Amendments include a portion of Piedmont's tenant reimbursement revenues and property management fee revenues. Lease contracts and reimbursement revenues associated with property taxes and insurance are specifically excluded from the Revenue Recognition Amendments. The Revenue Recognition Amendments are effective in the first quarter of 2018 for Piedmont. Management has substantially completed its initial assessment of the impact of adoption of the Revenue Recognition Amendments. Approximately 90% of Piedmont's total revenues are derived from either long-term leases with its tenants or reimbursement of property tax and insurance expenses, which are excluded from the scope of the Revenue Recognition Amendments. In addition, based on management's assessment to date, Piedmont does not expect the timing of the recognition of reimbursement revenue and revenue from management agreements to change as a result of the new guidance, though certain classifications will change between rental revenue and tenant reimbursements. Finally, management has determined, and the FASB has confirmed, that the evaluation of non-lease components under the new Revenue Recognition Amendments will not be effective until Accounting Standards Update No. 2016-02, Leases (Topic 842), ("ASU 2016-02") becomes effective (see further discussion below), which will be first quarter of 2019 for Piedmont. As a result, although management continues to evaluate the guidance and disclosures required by the Revenue Recognition Amendments, Piedmont does not anticipate any material impact to its consolidated financial statements as a result of adoption. The FASB has issued Accounting Standards Update No. 2017-05, Other Income—Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets ("ASU 2017-05"). The provisions of ASU 2017-05 define the term "in substance nonfinancial asset" as a financial asset promised to a counterparty in a contract if substantially all of the fair value of the assets (recognized and unrecognized) is concentrated in nonfinancial assets. Further, it states that nonfinancial assets should be derecognized once the counterparty obtains control. Finally, the amendments provide clarification for partial sales of nonfinancial assets. ASU 2017-05 is effective concurrent with the Revenue Recognition Amendments (detailed above), which will be the first quarter of 2018 for Piedmont. Although management continues to evaluate the guidance and disclosures required by ASU 2017-05, Piedmont does not anticipate a material change in how it recognizes the disposition of real estate in its consolidated financial statements as a result of adoption. The FASB has issued Accounting Standards Update No. 2016-01, Financial Instruments - Overall (Subtopic 825-10), Recognition and Measurement of Financial Assets and Financial Liabilities ("ASU 2016-01"). The amendments in ASU 2016-01 require equity investments, except those accounted for under the equity method of accounting, to be measured at estimated fair value with changes in fair value recognized in net income. Additionally, ASU 2016-01 simplifies the impairment assessment of equity investments, and eliminates certain disclosure requirements. The amendments in ASU 2016-01 are effective in the first quarter of 2018, and Piedmont does not anticipate any material impact to its consolidated financial statements as a result of adoption. The FASB has issued Accounting Standards Update No. 2016-18, Statement of Cash Flows (Topic 230), Restricted Cash (a consensus of the FASB Emerging Issues Task Force) ("ASU 2016-18"). The provisions of ASU 2016-18 require entities to show changes in restricted cash and cash equivalents in addition to cash and cash equivalents in the statement of cash flows. As a result, entities will no longer present transfers between restricted and unrestricted cash in the statement of cash flows. Disclosures are required to reconcile the amount presented on the statement of cash flows to the balance sheet, as well as disclosing the nature of restriction on the restricted cash balances. ASU 2016-18 is effective for Piedmont in the first quarter of 2018, with early adoption permitted. Piedmont does not anticipate any material impact to its consolidated financial statements as a result of adoption. The FASB has issued ASU 2016-02, which fundamentally changes the definition of a lease, as well as the accounting for operating leases by requiring lessees to recognize assets and liabilities which arise from the lease, consisting of a liability to make lease payments (the lease liability) and a right-of-use asset, representing the right to use the leased asset over the term of the lease. Accounting for leases by lessors is substantially unchanged from prior practice as lessors will continue to recognize lease revenue on a straight-line basis; however, ASU 2016-02 defines certain tenant reimbursements as non-lease components which will be subject to the guidance under ASU 2014-09. The amendments in ASU 2016-02 are effective in the first quarter of 2019, and Piedmont is currently evaluating the potential impact of adoption. The FASB has issued Accounting Standards Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments ("ASU 2016-13"). The provisions of ASU 2016-13 replace the "incurred loss" approach with an "expected loss" model for impairing trade and other receivables, held-to-maturity debt securities, net investment in leases, and off-balance-sheet credit exposures, which will generally result in earlier recognition of allowances for credit losses. Additionally, the provisions change the classification of credit losses related to available-for-sale securities to an allowance, rather than a direct reduction of the amortized cost of the securities. ASU 2016-13 is effective in the first quarter of 2020, with early adoption permitted as of January 1, 2019. Piedmont is currently evaluating the potential impact of adoption. The FASB has issued Accounting Standards Update No. 2017-04, Intangibles—Goodwill and Other (Topic 350), Simplifying the Test for Goodwill Impairment ("ASU 2017-04"). The provisions of ASU 2017-04 simplify how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test, which is generally performed annually unless events or circumstances arise which would necessitate evaluating the carrying value for impairment in the interim. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a entity’s goodwill with the carrying amount of that goodwill by determining the fair value of its assets and liabilities (including unrecognized assets and liabilities) following the procedures that would be required in a business combination. Under the provisions of ASU 2017-04, an entity would instead recognize an impairment charge for the amount by which the carrying amount exceeds the entity’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that entity. ASU 2017-04 is effective in the first quarter of 2020, with early adoption permitted as of the first interim or annual impairment test of goodwill after January 1, 2017. Piedmont is currently evaluating the potential impact of adoption.
Risk Management Objective of Using Derivatives	Risk Management Objective of Using Derivatives In addition to operational risks which arise in the normal course of business, Piedmont is exposed to economic risks such as interest rate, liquidity, and credit risk. In certain situations, Piedmont has entered into derivative financial instruments such as interest rate swap agreements and other similar agreements to manage interest rate risk exposure arising from current or future variable rate debt transactions. Interest rate swap agreements involve the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. Piedmont’s objective in using interest rate derivatives is to add stability to interest expense and to manage its exposure to interest rate movements.

Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Debt (Tables)

6 Months Ended

Jun. 30, 2017

Debt Disclosure [Abstract]

Schedule of Debt

The following table summarizes the terms of Piedmont’s indebtedness outstanding as of June 30, 2017 and December 31, 2016 (in thousands):



Facility ⁽¹⁾	Stated Rate		Effective Rate ⁽²⁾		Maturity		Amount Outstanding as of
Facility ⁽¹⁾	Stated Rate		Effective Rate ⁽²⁾		Maturity		June 30, 2017			December 31, 2016
Secured (Fixed)
$140 Million WDC Fixed-Rate Loans ⁽³⁾	5.76	%	5.76	%	11/1/2017		$	140,000	⁽⁴⁾	$	140,000
$35 Million Fixed-Rate Loan ⁽⁵⁾	5.55	%	3.75	%	9/1/2021		31,133			31,583
$160 Million Fixed-Rate Loan ⁽⁶⁾	3.48	%	3.58	%	7/5/2022		160,000			160,000
Net premium and unamortized debt issuance costs							1,063			1,161
Subtotal/Weighted Average ⁽⁷⁾	4.64	%					332,196			332,744
Unsecured (Variable and Fixed)
$170 Million Unsecured 2015 Term Loan ⁽⁸⁾	LIBOR + 1.125%		2.29	%	5/15/2018		170,000			170,000
$300 Million Unsecured 2013 Term Loan	LIBOR + 1.20%		2.78	%	1/31/2019		300,000			300,000
$500 Million Unsecured 2015 Line of Credit ⁽⁸⁾	LIBOR + 1.00%		2.14	%	6/18/2019	⁽⁹⁾	210,000		⁽¹⁰⁾	178,000
$300 Million Unsecured 2011 Term Loan	LIBOR + 1.15%		3.35	%	1/15/2020		300,000			300,000
$350 Million Senior Notes	3.40	%	3.43	%	6/01/2023		350,000			350,000
$400 Million Senior Notes	4.45	%	4.10	%	3/15/2024		400,000			400,000
Discounts and unamortized debt issuance costs							(9,014)			(10,269)
Subtotal/Weighted Average ⁽⁷⁾	3.26	%					1,720,986			1,687,731
Total/Weighted Average ⁽⁷⁾	3.48	%					$	2,053,182		$	2,020,475


⁽¹⁾	Other than the $35 Million Fixed-Rate Loan, all of Piedmont’s outstanding debt as of June 30, 2017 and December 31, 2016 is interest-only.


⁽²⁾	Effective rate after consideration of settled or in place interest rate swap agreements and/or issuance premiums or discounts.


⁽³⁾	Collateralized by the 1201 and 1225 Eye Street buildings in Washington, D.C.


⁽⁴⁾	On August 1, 2017, Piedmont fully repaid the $140 Million WDC Fixed-Rate Loans without penalty using a portion of the net proceeds from the sale of the Two Independence Square building (see Note 9 and Note 13).


⁽⁵⁾	Collateralized by the 5 Wall Street building in Burlington, Massachusetts.


⁽⁶⁾	Collateralized by the 1901 Market Street building in Philadelphia, Pennsylvania.


⁽⁷⁾	Weighted average is based on contractual balance of outstanding debt and the stated or effectively fixed interest rates in the table as of June 30, 2017.


⁽⁸⁾	On a periodic basis, Piedmont may select from multiple interest rate options, including the prime rate and various-length LIBOR locks. All LIBOR selections are subject to an additional spread over the selected rate based on Piedmont’s current credit rating.


⁽⁹⁾	Piedmont may extend the term for up to one additional year (through two available six month extensions to a final extended maturity date of June 18, 2020) provided Piedmont is not then in default and upon payment of extension fees.


⁽¹⁰⁾	On July 5, 2017, Piedmont repaid the outstanding balance of the $500 Million Unsecured 2015 Line of Credit, using a portion of the net proceeds from the sale of the Two Independence Square building (see Note 9 and Note 13).

Variable Interest Entities (Tables)

6 Months Ended

Jun. 30, 2017

Schedule of Variable Interest Entities



Entity	Piedmont’s % Ownership of Entity	Related Building	Consolidated/ Unconsolidated	Net Carrying Amount as of June 30, 2017			Net Carrying Amount as of December 31, 2016			Primary Beneficiary Considerations
1201 Eye Street N.W. Associates, LLC	49.5%	1201 Eye Street	Consolidated	$	(0.9	)	$	(6.7	)	In accordance with the partnership’s governing documents, Piedmont is entitled to 100% of the cash flow of the entity and has sole discretion in directing the management and leasing activities of the building.
1225 Eye Street N.W. Associates, LLC	49.5%	1225 Eye Street	Consolidated	$	8.8		$	9.9		In accordance with the partnership’s governing documents, Piedmont is entitled to 100% of the cash flow of the entity and has sole discretion in directing the management and leasing activities of the building.
Piedmont 500 W. Monroe Fee, LLC	100%	500 W. Monroe	Consolidated	$	267.6		$	262.4		The Omnibus Agreement with the previous owner includes equity participation rights for the previous owner, if certain financial returns are achieved; however, Piedmont has sole decision making authority and is entitled to 100% of the economic benefits of the property until such returns are met.

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2017

Schedule of Notional Amounts of Outstanding Derivative Positions

A detail of Piedmont’s interest rate derivatives outstanding as of June 30, 2017 is as follows:

Interest Rate Derivatives:

Number of Swap Agreements

Associated Debt Instrument

Total Notional Amount

(in millions)

Effective Date

Maturity Date

Interest rate swaps

$300 Million Unsecured 2013 Term Loan

200

1/30/2014

1/31/2019

Interest rate swaps

$300 Million Unsecured 2013 Term Loan

100

8/29/2014

1/31/2019

Interest rate swaps

$300 Million Unsecured 2011 Term Loan

300

11/22/2016

1/15/2020

Total

600

Schedule of Interest Rate Derivatives

A detail of Piedmont’s interest rate derivatives on a gross and net basis as of June 30, 2017 and December 31, 2016, respectively, is as follows (in thousands):



Interest rate swaps classified as:	June 30, 2017		December 31, 2016
Gross derivative assets	$	—	$	—
Gross derivative liabilities	5,061		8,169
Net derivative liability	$	5,061	$	8,169

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)



	Three Months Ended						Six Months Ended
Interest Rate Swaps in Cash Flow Hedging Relationships	June 30, 2017			June 30, 2016			June 30, 2017		June 30, 2016
Amount of gain/(loss) recognized in OCI	$	(911	)	$	(4,068	)	$	132	$	(15,029	)
Amount of previously recorded loss reclassified from accumulated OCI into interest expense	$	977		$	1,113		$	2,283	$	2,246

Fair Value Measurement of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2017

Fair Value Disclosures [Abstract]

Fair Value, by Balance Sheet Grouping

The following table sets forth the carrying and estimated fair value for each of Piedmont’s financial instruments, as well as its level within the GAAP fair value hierarchy, as of June 30, 2017 and December 31, 2016, respectively (in thousands):



	June 30, 2017					December 31, 2016
Financial Instrument	Carrying Value		Estimated Fair Value		Level Within Fair Value Hierarchy	Carrying Value		Estimated Fair Value		Level Within Fair Value Hierarchy
Assets:
Cash and cash equivalents⁽¹⁾	$	9,596	$	9,596	Level 1	$	6,992	$	6,992	Level 1
Tenant receivables, net⁽¹⁾	$	24,269	$	24,269	Level 1	$	26,494	$	26,494	Level 1
Restricted cash and escrows⁽¹⁾	$	1,290	$	1,290	Level 1	$	1,212	$	1,212	Level 1
Liabilities:
Accounts payable and accrued expenses⁽¹⁾	$	12,935	$	12,935	Level 1	$	44,733	$	44,733	Level 1
Interest rate swap	$	5,061	$	5,061	Level 2	$	8,169	$	8,169	Level 2
Debt, net	$	2,053,182	$	2,081,120	Level 2	$	2,020,475	$	2,027,436	Level 2


⁽¹⁾	For the periods presented, the carrying value of these financial instruments approximates estimated fair value due to their short-term maturity.

Impairment Loss on Real Estate Assets (Tables)

6 Months Ended

Jun. 30, 2017

Real Estate [Abstract]

Details of Impairment of Long-Lived Assets Held and Used by Asset

Piedmont recorded impairment loss on real estate assets for the three and six months ended June 30, 2017 and 2016, respectively, as follows (in thousands):



	Three Months Ended				Six Months Ended
	2017		2016		2017		2016
150 West Jefferson⁽¹⁾	$	—	$	8,259	$	—	$	8,259
9221 Corporate Boulevard ⁽²⁾	—		2,691		—		2,691
Total impairment loss on real estate assets⁽³⁾	$	—	$	10,950	$	—	$	10,950


⁽¹⁾	Piedmont recognized an impairment loss on real estate assets based upon the difference between the carrying value of the asset and the anticipated contract sales price, less estimated selling costs.

⁽²⁾


⁽³⁾	The fair value measurements used in the evaluation of the non-financial assets above are considered to be Level 1 valuations within the fair value hierarchy as defined by GAAP, as there are direct observations and transactions involving the assets by unrelated, third-party purchasers.

Details of assets held for sale as of June 30, 2017 and December 31, 2016 are presented below (in thousands):



	June 30, 2017		December 31, 2016
Real estate assets held for sale, net:
Land	$	52,710	$	52,710
Building and improvements, less accumulated depreciation of $89,187 and $88,319 as of June 30, 2017 and December 31, 2016, respectively	172,350		173,218
Construction in progress	11		11
Total real estate assets held for sale, net	$	225,071	$	225,939

Other assets held for sale, net:
Straight-line rent receivables	$	2,225	$	2,059
Prepaid expenses and other assets	762		454
Deferred lease costs, less accumulated amortization of $2,892 and $2,825 as of June 30, 2017 and December 31, 2016, respectively	7,235		7,302
Total other assets held for sale, net	$	10,222	$	9,815

Property Dispositions, Assets Held for Sale, and Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2017

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures

Details of such properties sold are presented below (in thousands):



Buildings Sold⁽¹⁾	Location	Date of Sale	Gain/(Loss) on Sale		Net Sales Proceeds
1055 East Colorado Boulevard	Pasadena, California	April 21, 2016	$	29,462	$	60,076
Fairway Center II	Brea, California	April 28, 2016	$	14,406	$	33,062
1901 Main Street	Irvine, California	May 2, 2016	$	29,964	$	63,149
Sarasota Commerce Center II	Sarasota, Florida	June 16, 2017	$	6,497	$	23,094

Details comprising loss from discontinued operations activity for the three and six months ended ended June 30, 2017 and 2016 are presented below (in thousands):



	Three Months Ended					Six Months Ended
	June 30, 2017		June 30, 2016			June 30, 2017		June 30, 2016
Revenues:
Rental income	$	—	$	—		$	—	$	—
Tenant reimbursements	—		—			—		—
	—		—			—		—
Expenses:
Property operating costs	—		—			—		—
General and administrative	—		1			—		1
	—		1			—		1

Operating income	—		(1		)	—		(1		)
Loss on sale of real estate assets	—		—			—		—
Income from discontinued operations	$	—	$	(1	)	$	—	$	(1	)

Details of Impairment of Long-Lived Assets Held and Used by Asset

Piedmont recorded impairment loss on real estate assets for the three and six months ended June 30, 2017 and 2016, respectively, as follows (in thousands):



	Three Months Ended				Six Months Ended
	2017		2016		2017		2016
150 West Jefferson⁽¹⁾	$	—	$	8,259	$	—	$	8,259
9221 Corporate Boulevard ⁽²⁾	—		2,691		—		2,691
Total impairment loss on real estate assets⁽³⁾	$	—	$	10,950	$	—	$	10,950


⁽¹⁾	Piedmont recognized an impairment loss on real estate assets based upon the difference between the carrying value of the asset and the anticipated contract sales price, less estimated selling costs.

⁽²⁾


⁽³⁾	The fair value measurements used in the evaluation of the non-financial assets above are considered to be Level 1 valuations within the fair value hierarchy as defined by GAAP, as there are direct observations and transactions involving the assets by unrelated, third-party purchasers.

Details of assets held for sale as of June 30, 2017 and December 31, 2016 are presented below (in thousands):



	June 30, 2017		December 31, 2016
Real estate assets held for sale, net:
Land	$	52,710	$	52,710
Building and improvements, less accumulated depreciation of $89,187 and $88,319 as of June 30, 2017 and December 31, 2016, respectively	172,350		173,218
Construction in progress	11		11
Total real estate assets held for sale, net	$	225,071	$	225,939

Other assets held for sale, net:
Straight-line rent receivables	$	2,225	$	2,059
Prepaid expenses and other assets	762		454
Deferred lease costs, less accumulated amortization of $2,892 and $2,825 as of June 30, 2017 and December 31, 2016, respectively	7,235		7,302
Total other assets held for sale, net	$	10,222	$	9,815

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
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-URI http://asc.fasb.org/extlink&oid=65878427&loc=SL51721533-107759

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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721665-107760

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-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=64862545&loc=d3e2941-110230

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721673-107760

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721659-107760

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721671-107760

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5D
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721677-107760

+ Details

Stock Based Compensation (Tables)

6 Months Ended

Jun. 30, 2017

Schedule of Nonvested Share Activity

A rollforward of Piedmont's equity based award activity for the six months ended June 30, 2017 is as follows:



	Shares		Weighted-Average Grant Date Fair Value
Unvested Stock Awards as of December 31, 2016	944,223		$	19.44
Deferred Stock Awards Granted	299,251		$	21.38
Increase in Estimated Potential Future Performance Share Awards, net of forfeitures	150,537		$	28.37
Performance Stock Awards Vested	(118,446	)	$	22.00
Deferred Stock Awards Vested	(301,921	)	$	19.35
Deferred Stock Awards Forfeited	(4,761	)	$	19.57
Unvested Stock Awards as of June 30, 2017	968,883		$	21.94

The following table provides additional information regarding stock award activity during the three and six months ended June 30, 2017 and 2016, respectively (in thousands, except per share amounts):



	Three Months Ended				Six Months Ended
	June 30, 2017		June 30, 2016		June 30, 2017		June 30, 2016
Weighted-Average Grant Date Fair Value of Deferred Stock Granted During the Period	$	21.38	$	19.96	$	21.38	$	19.96
Total Grant Date Fair Value of Deferred Stock Vested During the Period	$	5,551	$	4,319	$	5,841	$	4,659
Share-based Liability Awards Paid During the Period⁽¹⁾	$	—	$	—	$	2,877	$	1,127


⁽¹⁾	Amounts reflect the issuance of performance share awards related to the 2014-16 and 2013-15 Performance Share Plans during the six months ended June 30, 2017 and 2016, respectively.

Schedule of Outstanding Employee Stock Awards

A detail of Piedmont’s outstanding stock awards as of June 30, 2017 is as follows:



Date of grant	Type of Award	Net Shares Granted ⁽¹⁾	Grant Date Fair Value		Vesting Schedule	Unvested Shares as of June 30, 2017
January 3, 2014	Deferred Stock Award	86,769	$	16.56	Of the shares granted, 20% vested or will vest on January 3, 2015, 2016, 2017, 2018, and 2019, respectively.	35,094
May 1, 2015	Deferred Stock Award	216,919	$	17.59	Of the shares granted, 25% vested on the date of grant, and 25% vested or will vest on May 1, 2016, 2017, and 2018, respectively.	67,747
May 1, 2015	Fiscal Year 2015-2017 Performance Share Program	—	$	18.42	Shares awarded, if any, will vest immediately upon determination of award in 2018.	229,828	⁽²⁾
May 24, 2016	Deferred Stock Award	233,073	$	19.91	Of the shares granted, 25% vested on the date of grant, and 25% vested or will vest on May 24, 2017, 2018, and 2019, respectively.	134,117
May 24, 2016	Fiscal Year 2016-2018 Performance Share Program	—	$	23.02	Shares awarded, if any, will vest immediately upon determination of award in 2019.	85,792	⁽²⁾
May 18, 2017	Deferred Stock Award-Board of Directors	26,187	$	21.38	Of the shares granted, 100% will vest by May 18, 2018.	26,187
May 18, 2017	Deferred Stock Award	246,808	$	21.38	Of the shares granted, 25% vested on the date of grant, and 25% vested or will vest on May 18, 2018, 2019, and 2020, respectively.	202,233
May 18, 2017	Fiscal Year 2017-2019 Performance Share Program	—	$	30.45	Shares awarded, if any, will vest immediately upon determination of award in 2020.	187,885	⁽²⁾
Total						968,883


⁽¹⁾	Amounts reflect the total grant to employees and independent directors, net of shares surrendered upon vesting to satisfy required minimum tax withholding obligations through June 30, 2017.


⁽²⁾	Estimated based on Piedmont's cumulative TSR for the respective performance period through June 30, 2017. Share estimates are subject to change in future periods based on both Piedmont's and its peers' stock performance and dividends paid.

Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2017

Earnings Per Share [Abstract]

Schedule of Weighted Average Number of Shares



	Three Months Ended		Six Months Ended
	June 30, 2017	June 30, 2016	June 30, 2017	June 30, 2016
Weighted-average common shares – basic	145,413	145,179	145,350	145,228
Plus: Incremental weighted-average shares from time-vested deferred and performance stock awards	400	520	430	537
Weighted-average common shares – diluted	145,813	145,699	145,780	145,765

Common stock issued and outstanding as of period end			145,490	145,230

Guarantor and Non-Guarantor Financial Information (Tables)

6 Months Ended

Jun. 30, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidated Balance Sheets



Condensed Consolidated Balance Sheets
As of June 30, 2017
(in thousands)	Issuer		Guarantor			Non-Guarantor Subsidiaries		Eliminations			Consolidated
Assets:
Real estate assets, at cost:
Land	$	43,929	$	—		$	571,005	$	—		$	614,934
Buildings and improvements, less accumulated depreciation	209,091		—			2,533,536		(300		)	2,742,327
Intangible lease assets, less accumulated amortization	453		—			84,536		—			84,989
Construction in progress	572		—			15,079		—			15,651
Real estate assets held for sale, net	—		—			225,071		—			225,071
Total real estate assets	254,045		—			3,429,227		(300		)	3,682,972
Investments in and amounts due from unconsolidated joint ventures	7,762		—			—		—			7,762
Cash and cash equivalents	5,181		150			4,265		—			9,596
Tenant and straight-line rent receivables, net	17,266		—			184,466		—			201,732
Advances to affiliates	6,465,350		1,316,446			—		(7,781,796		)	—
Investment in subsidiary	—		3,569,494			178		(3,569,672		)	—
Notes receivable	88,910		—			95,790		(184,700		)	—
Prepaid expenses, restricted cash, escrows, and other assets	5,007		76			26,752		(1,091		)	30,744
Goodwill	98,918		—			—		—			98,918
Deferred lease costs, net	14,500		—			263,866		—			278,366
Other assets held for sale, net	—		—			10,222		—			10,222
Total assets	$	6,956,939	$	4,886,166		$	4,014,766	$	(11,537,559	)	$	4,320,312
Liabilities:
Debt, net	$	1,735,196	$	—		$	502,686	$	(184,700	)	$	2,053,182
Accounts payable, accrued expenses, and accrued capital expenditures	16,328		565			95,209		(1,091		)	111,011
Advances from affiliates	729,007		5,100,839			2,050,205		(7,880,051		)	—
Deferred income	2,934		—			24,482		—			27,416
Intangible lease liabilities, net	—		—			43,328		—			43,328
Interest rate swaps	5,061		—			—		—			5,061
Total liabilities	2,488,526		5,101,404			2,715,910		(8,065,842		)	2,239,998
Stockholders’ Equity:
Common stock	—		1,455			—		—			1,455
Additional paid-in capital	3,565,494		3,678,434			1,306		(3,569,672		)	3,675,562
Retained/(cumulative distributions in excess of) earnings	898,372		(3,895,127		)	1,295,681		97,955			(1,603,119		)
Other comprehensive loss	4,547		—			—		—			4,547
Piedmont stockholders’ equity	4,468,413		(215,238		)	1,296,987		(3,471,717		)	2,078,445
Noncontrolling interest	—		—			1,869		—			1,869
Total stockholders’ equity	4,468,413		(215,238		)	1,298,856		(3,471,717		)	2,080,314
Total liabilities and stockholders’ equity	$	6,956,939	$	4,886,166		$	4,014,766	$	(11,537,559	)	$	4,320,312



Condensed Consolidated Balance Sheets
As of December 31, 2016
(in thousands)	Issuer		Guarantor			Non-Guarantor Subsidiaries		Eliminations			Consolidated
Assets:
Real estate assets, at cost:
Land	$	46,133	$	—		$	571,005	$	—		$	617,138
Buildings and improvements, less accumulated depreciation	228,194		—			2,526,212		(300		)	2,754,106
Intangible lease assets, less accumulated amortization	725		—			98,970		—			99,695
Construction in progress	145		—			34,669		—			34,814
Real estate assets held for sale, net	—		—			225,939		—			225,939
Total real estate assets	275,197		—			3,456,795		(300		)	3,731,692
Investments in and amounts due from unconsolidated joint ventures	7,360		—			—		—			7,360
Cash and cash equivalents	3,674		150			3,168		—			6,992
Tenant and straight-line rent receivables, net	20,159		—			170,124		—			190,283
Advances to affiliates	6,464,135		1,315,616			—		(7,779,751		)	—
Investment in subsidiary	—		3,630,564			181		(3,630,745		)	—
Notes receivable	88,910		—			95,790		(184,700		)	—
Prepaid expenses, restricted cash, escrows, and other assets	6,189		—			20,121		(1,897		)	24,413
Goodwill	98,918		—			—		—			98,918
Deferred lease costs, net	16,550		—			282,145		—			298,695
Other assets held for sale, net	—		—			9,815		—			9,815
Total assets	$	6,981,092	$	4,946,330		$	4,038,139	$	(11,597,393	)	$	4,368,168
Liabilities:
Debt, net	$	1,701,933	$	—		$	503,242	$	(184,700	)	$	2,020,475
Accounts payable, accrued expenses, and accrued capital expenditures	17,365		31,230			118,712		(1,897		)	165,410
Advances from affiliates	708,340		5,071,521			2,098,146		(7,878,007		)	—
Deferred income	5,206		—			23,200		—			28,406
Intangible lease liabilities, net	—		—			48,005		—			48,005
Interest rate swaps	8,169		—			—		—			8,169
Total liabilities	2,441,013		5,102,751			2,791,305		(8,064,604		)	2,270,465
Stockholders’ Equity:
Common stock	—		1,452			—		—			1,452
Additional paid-in capital	3,626,564		3,676,000			1,309		(3,630,745		)	3,673,128
Retained/(cumulative distributions in excess of) earnings	911,411		(3,833,873		)	1,243,643		97,956			(1,580,863		)
Other comprehensive income	2,104		—			—		—			2,104
Piedmont stockholders’ equity	4,540,079		(156,421		)	1,244,952		(3,532,789		)	2,095,821
Noncontrolling interest	—		—			1,882		—			1,882
Total stockholders’ equity	4,540,079		(156,421		)	1,246,834		(3,532,789		)	2,097,703
Total liabilities and stockholders’ equity	$	6,981,092	$	4,946,330		$	4,038,139	$	(11,597,393	)	$	4,368,168

Condensed Consolidated Statements of Income



Condensed Consolidated Statements of Income
For the three months ended June 30, 2017
(in thousands)	Issuer			Guarantor			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Rental income	$	11,092		$	—		$	113,641		$	(485	)	$	124,248
Tenant reimbursements	2,964			—			21,207			(127		)	24,044
Property management fee revenue	—			—			4,577			(4,190		)	387
	14,056			—			139,425			(4,802		)	148,679
Expenses:
Property operating costs	5,853			—			54,728			(4,802		)	55,779
Depreciation	3,281			—			26,778			—			30,059
Amortization	803			—			18,511			—			19,314
General and administrative	1,528			81			6,427			—			8,036
	11,465			81			106,444			(4,802		)	113,188
Real estate operating income/(loss)	2,591			(81		)	32,981			—			35,491
Other income (expense):
Interest expense	(14,810		)	—			(7,262		)	3,651			(18,421		)
Other income/(expense)	2,240			—			1,449			(3,651		)	38
Equity in income of unconsolidated joint ventures	107			—			—			—			107
	(12,463		)	—			(5,813		)	—			(18,276		)
Income/(loss) from continuing operations	(9,872		)	(81		)	27,168			—			17,215
Discontinued operations:
Operating income	—			—			—			—			—
Income from discontinued operations	—			—			—			—			—
Gain/(loss) on sale of real estate assets, net	6,495			—			(3		)	—			6,492
Net income/(loss)	(3,377		)	(81		)	27,165			—			23,707
Less: Net loss applicable to noncontrolling interest	—			—			3			—			3
Net income/(loss) applicable to Piedmont	$	(3,377	)	$	(81	)	$	27,168		$	—		$	23,710



Condensed Consolidated Statements of Income
For the three months ended June 30, 2016
(in thousands)	Issuer			Guarantor			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Rental income	$	14,661		$	—		$	97,860		$	(754	)	$	111,767
Tenant reimbursements	3,753			—			19,409			(76		)	23,086
Property management fee revenue	—			—			4,178			(3,724		)	454
	18,414			—			121,447			(4,554		)	135,307
Expenses:
Property operating costs	8,319			—			48,568			(4,595		)	52,292
Depreciation	4,476			—			27,080			—			31,556
Amortization	941			—			16,461			—			17,402
Impairment loss on real estate assets	8,258			—			2,692			—			10,950
General and administrative	8,107			92			10,213			(10,096		)	8,316
	30,101			92			105,014			(14,691		)	120,516
Real estate operating income/(loss)	(11,687		)	(92		)	16,433			10,137			14,791
Other income (expense):
Interest expense	(12,170		)	—			(6,666		)	2,423			(16,413		)
Other income/(expense)	1,735			282			365			(2,423		)	(41		)
Equity in income of unconsolidated joint ventures	110			—			—			—			110
	(10,325		)	282			(6,301		)	—			(16,344		)
Income/(loss) from continuing operations	(22,012		)	190			10,132			10,137			(1,553		)
Discontinued operations:
Operating loss	—			—			(1		)	—			(1		)
Loss from discontinued operations	—			—			(1		)	—			(1		)
Gain on sale of real estate assets, net	29,966			—			43,869			—			73,835
Net income	7,954			190			54,000			10,137			72,281
Less: Net income applicable to noncontrolling interest	—			—			(3		)	—			(3		)
Net income applicable to Piedmont	$	7,954		$	190		$	53,997		$	10,137		$	72,278



Condensed Consolidated Statements of Income
For the six months ended June 30, 2017
(in thousands)	Issuer			Guarantor			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Rental income	$	22,517		$	—		$	226,125		$	(944	)	$	247,698
Tenant reimbursements	5,964			—			42,810			(230		)	48,544
Property management fee revenue	—			—			9,201			(8,301		)	900
	28,481			—			278,136			(9,475		)	297,142
Expenses:
Property operating costs	11,655			—			108,983			(9,475		)	111,163
Depreciation	6,744			—			54,083			—			60,827
Amortization	1,659			—			38,070			—			39,729
General and administrative	3,231			183			13,218			—			16,632
	23,289			183			214,354			(9,475		)	228,351
Real estate operating income/(loss)	5,192			(183		)	63,782			—			68,791
Other income (expense):
Interest expense	(29,254		)	—			(14,514		)	7,290			(36,478		)
Other income/(expense)	4,469			—			2,759			(7,290		)	(62		)
Equity in income of unconsolidated joint ventures	118			—			—			—			118
	(24,667		)	—			(11,755		)	—			(36,422		)
Income/(loss) from continuing operations	(19,475		)	(183		)	52,027			—			32,369
Discontinued operations:
Operating income	—			—			—			—			—
Income from discontinued operations	—			—			—			—			—
Gain on sale of real estate assets, net	6,434			—			5			—			6,439
Net income/(loss)	(13,041		)	(183		)	52,032			—			38,808
Less: Net loss applicable to noncontrolling interest	—			—			6			—			6
Net income/(loss) applicable to Piedmont	$	(13,041	)	$	(183	)	$	52,038		$	—		$	38,814



Condensed Consolidated Statements of Income
For the six months ended June 30, 2016
(in thousands)	Issuer			Guarantor			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Rental income	$	30,127		$	—		$	197,896		$	(1,518	)	$	226,505
Tenant reimbursements	7,026			—			38,980			(169		)	45,837
Property management fee revenue	—			—			8,495			(7,518		)	977
	37,153			—			245,371			(9,205		)	273,319
Expenses:
Property operating costs	16,762			—			99,083			(9,274		)	106,571
Depreciation	9,376			—			53,962			—			63,338
Amortization	1,991			—			33,217			—			35,208
Impairment loss of real estate assets	8,259			—			2,691			—			10,950
General and administrative	15,615			168			19,864			(19,558		)	16,089
	52,003			168			208,817			(28,832		)	232,156
Real estate operating income/(loss)	(14,850		)	(168		)	36,554			19,627			41,163
Other income (expense):
Interest expense	(24,360		)	—			(13,404		)	4,966			(32,798		)
Other income/(expense)	4,400			282			537			(4,966		)	253
Equity in income of unconsolidated joint ventures	225			—			—			—			225
	(19,735		)	282			(12,867		)	—			(32,320		)
Net income/(loss)	(34,585		)	114			23,687			19,627			8,843
Discontinued operations:
Operating loss	—			—			(1		)	—			(1		)
Loss from discontinued operations	—			—			(1		)	—			(1		)
Gain on sale of real estate assets, net	29,962			—			43,853			—			73,815
Net income/(loss)	(4,623		)	114			67,539			19,627			82,657
Less: Net income applicable to noncontrolling interest	—			—			(7		)	—			(7		)
Net income/(loss) applicable to Piedmont	$	(4,623	)	$	114		$	67,532		$	19,627		$	82,650

Condensed Consolidated Statements of Cash Flows



Condensed Consolidated Statements of Cash Flows
For the six months ended June 30, 2017
(in thousands)	Issuer			Guarantor			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Net Cash Provided by/(Used in) Operating Activities	$	(10,028	)	$	3,091		$	118,599		$	—	$	111,662

Cash Flows from Investing Activities:
Investment in real estate assets, consolidated joint venture, and real estate related intangibles, net of accruals	(757		)	—			(57,563		)	—		(58,320		)
Net sales proceeds from wholly-owned properties	23,032			—			(9		)	—		23,023
Investments in unconsolidated joint ventures	(284		)	—			—			—		(284		)
Deferred lease costs paid	(736		)	—			(8,827		)	—		(9,563		)
Net cash provided by/(used in) investing activities	21,255			—			(66,399		)	—		(45,144		)
Cash Flows from Financing Activities:
Debt issuance costs paid	(102		)	—			—			—		(102		)
Proceeds from debt	147,000			—			—			—		147,000
Repayments of debt	(115,000		)	—			(694		)	—		(115,694		)
Costs of issuance of common stock	—			(74		)	—			—		(74		)
Shares withheld to pay tax obligations related to employee stock compensation	—			(3,380		)	—			—		(3,380		)
(Distributions to)/repayments from affiliates	(41,618		)	92,020			(50,402		)	—		—
Dividends paid and discount on dividend reinvestments	—			(91,657		)	(7		)	—		(91,664		)
Net cash used in financing activities	(9,720		)	(3,091		)	(51,103		)	—		(63,914		)
Net increase in cash and cash equivalents	1,507			—			1,097			—		2,604
Cash and cash equivalents, beginning of period	3,674			150			3,168			—		6,992
Cash and cash equivalents, end of period	$	5,181		$	150		$	4,265		$	—	$	9,596



Condensed Consolidated Statements of Cash Flows
For the six months ended June 30, 2016
(in thousands)	Issuer			Guarantor			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net Cash Provided by/(Used in) Operating Activities	$	(14,105	)	$	3,075		$	94,146		$	19,628		$	102,744

Cash Flows from Investing Activities:
Investment in real estate assets and real estate related intangibles, net of accruals	(13,062		)	—			(51,360		)	—			(64,422		)
Intercompany note receivable	—			—			9,600			(9,600		)	—
Net sales proceeds from wholly-owned properties	108,550			—			93,140			—			201,690
Deferred lease costs paid	(1,712		)	—			(4,554		)	—			(6,266		)
Net cash provided by/(used in) investing activities	93,776			—			46,826			(9,600		)	131,002
Cash Flows from Financing Activities:
Debt issuance costs paid	(138		)	—			—			—			(138		)
Proceeds from debt	211,000			—			—			—			211,000
Repayments of debt	(232,000		)	—			(125,597		)	—			(357,597		)
Intercompany note payable	(9,600		)	—			—			9,600			—
Costs of issuance of common stock	—			(42		)	—			—			(42		)
Shares withheld to pay tax obligations related to employee stock compensation	—			(2,283		)	—			—			(2,283		)
Repurchases of common stock as part of announced plan	—			(7,943		)	—			—			(7,943		)
(Distributions to)/repayments from affiliates	(34,837		)	68,259			(13,794		)	(19,628		)	—
Dividends paid and discount on dividend reinvestments	—			(61,066		)	(9		)	—			(61,075		)
Net cash used in financing activities	(65,575		)	(3,075		)	(139,400		)	(10,028		)	(218,078		)
Net increase in cash and cash equivalents	14,096			—			1,572			—			15,668
Cash and cash equivalents, beginning of period	2,174			150			3,117			—			5,441
Cash and cash equivalents, end of period	$	16,270		$	150		$	4,689		$	—		$	21,109

Organization (Details) ft² in Millions	6 Months Ended
Organization (Details) ft² in Millions	Jun. 30, 2017 ft² segment property subsidiary market
Real Estate Properties [Line Items]
Number of wholly-owned subsidiaries \| subsidiary	2
Percentage ownership by sole general partner	99.90%
Percentage ownership by sole limited partner	0.10%
Percentage of annualized lease revenue	88.00%
Number of operating segments \| segment	1
U.S. [Member]
Real Estate Properties [Line Items]
Number of major U.S. office markets \| market	8
Unconsolidated Joint Venture [Member]
Real Estate Properties [Line Items]
Number of real estate properties	1
In Service Office Properties [Member]
Real Estate Properties [Line Items]
Number of real estate properties	67
Square footage of real estate property \| ft²	20
Percentage leased	91.00%

Summary of Significant Accounting Policies (Details)	6 Months Ended
Summary of Significant Accounting Policies (Details)	Jun. 30, 2017
Total Revenues Derived from Long Term Leases to Tenants or Reimbursement of Property Tax and Insurance Expenses [Member] \| Sales Revenue, Net [Member]
Concentration Risk [Line Items]
Percentage of total revenues	90.00%

Debt (Details)

6 Months Ended

Aug. 01, 2017

USD ($)

Jun. 30, 2017

USD ($)

period

Jul. 05, 2017

USD ($)

Dec. 31, 2016

USD ($)

Weighted Average Rate

^[1],[2],[3]

3.48%

^[2],[3]

$ 2,053,182,000

$ 2,020,475,000

Secured Debt [Member]

Weighted Average Rate

^[1],[2],[3]

4.64%

Net premium, discounts, and unamortized debt issuance costs

^[2],[3]

$ 332,196,000

332,744,000

^[2]

1,063,000

1,161,000

Secured Debt [Member] | $140 Million WDC Fixed Rate Loans [Member]

^[2],[4]

$ 140,000,000

^[2],[4]

5.76%

^[1],[2],[4]

5.76%

Secured Debt [Member] | $140 Million WDC Fixed Rate Loans [Member] | Subsequent Event [Member]

^[2],[4]

$ 140,000,000

^[5]

140,000,000

Secured Debt [Member] | $35 Million Fixed-Rate Loan [Member]

Amount fully repaid

$ 140,000,000

^[2],[6]

$ 35,000,000.0

^[2],[6]

5.55%

^[1],[2],[6]

3.75%

Secured Debt [Member] | $160 Million Fixed Rate Loan [Member]

^[2],[6]

$ 31,133,000

31,583,000

^[2],[7]

$ 160,000,000

^[2],[7]

3.48%

^[1],[2],[7]

3.58%

^[2],[7]

$ 160,000,000

160,000,000

Unsecured Debt [Member]

Weighted Average Rate

^[1],[2],[3]

3.26%

Net premium, discounts, and unamortized debt issuance costs

^[2],[3]

$ 1,720,986,000

1,687,731,000

^[2]

(9,014,000)

(10,269,000)

Unsecured Debt [Member] | $170 Million Unsecured 2015 Term Loan [Member]

^[2]

$ 170,000,000

^[1],[2],[8]

2.29%

Unsecured Debt [Member] | $170 Million Unsecured 2015 Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member]

^[2],[8]

$ 170,000,000

170,000,000

Unsecured Debt [Member] | $300 million Unsecured 2013 Term Loan [Member]

^[2]

1.125%

^[2]

$ 300,000,000

Unsecured Debt [Member] | $300 million Unsecured 2013 Term Loan [Member] | Interest Rate Swap [Member]

^[2]

$ 300,000,000

300,000,000

Unsecured Debt [Member] | $300 million Unsecured 2013 Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member]

^[1],[2]

2.78%

Unsecured Debt [Member] | $500 Million Unsecured 2015 Line of Credit [Member] | Line of Credit [Member]

^[2]

1.20%

^[2],[3],[8]

$ 500,000,000

^[1],[2],[8]

2.14%

Number of extension periods | period

^[2],[8],[10]

$ 210,000,000

^[9]

178,000,000

Maximum extension period

1 year

Extension period

6 months

Unsecured Debt [Member] | $500 Million Unsecured 2015 Line of Credit [Member] | Line of Credit [Member] | Subsequent Event [Member]

Unsecured Debt [Member] | $500 Million Unsecured 2015 Line of Credit [Member] | Line of Credit [Member] | London Interbank Offered Rate (LIBOR) [Member]

Amount of line of credit

$ 500,000,000

Unsecured Debt [Member] | $300 Million Unsecured 2011 Term Loan [Member]

^[2],[3],[8]

1.00%

^[2]

$ 300,000,000

Unsecured Debt [Member] | $300 Million Unsecured 2011 Term Loan [Member] | Interest Rate Swap [Member]

^[2]

$ 300,000,000

300,000,000

Unsecured Debt [Member] | $300 Million Unsecured 2011 Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member]

^[1],[2]

3.35%

Unsecured Debt [Member] | $350 Million Unsecured Senior Notes [Member]

^[2]

1.15%

^[2]

$ 350,000,000

^[2]

3.40%

^[1],[2]

3.43%

Unsecured Debt [Member] | $400 Million Unsecured Senior Notes [Member]

^[2]

$ 350,000,000

350,000,000

^[2]

$ 400,000,000

^[2]

4.45%

^[1],[2]

4.10%

^[2]

$ 400,000,000

[1]	Effective rate after consideration of settled or in place interest rate swap agreements and/or issuance premiums or discounts.
[2]	Other than the $35 Million Fixed-Rate Loan, all of Piedmont’s outstanding debt as of June 30, 2017 and December 31, 2016 is interest-only.
[3]	Weighted average is based on contractual balance of outstanding debt and the stated or effectively fixed interest rates in the table as of June 30, 2017
[4]	Collateralized by the 1201 and 1225 Eye Street buildings in Washington, D.C.
[5]	On August 1, 2017, Piedmont fully repaid the $140 Million WDC Fixed-Rate Loans without penalty using a portion of the net proceeds from the sale of the Two Independence Square building (see Note 9 and Note 13).
[6]	Collateralized by the 5 Wall Street building in Burlington, Massachusetts.
[7]	Collateralized by the 1901 Market Street building in Philadelphia, Pennsylvania.
[8]	On a periodic basis, Piedmont may select from multiple interest rate options, including the prime rate and various-length LIBOR locks. All LIBOR selections are subject to an additional spread over the selected rate based on Piedmont’s current credit rating.
[9]	On July 5, 2017, Piedmont repaid the outstanding balance of the $500 Million Unsecured 2015 Line of Credit, using a portion of the net proceeds from the sale of the Two Independence Square building (see Note 9 and Note 13).
[10]	Piedmont may extend the term for up to one additional year (through two available six month extensions to a final extended maturity date of June 18, 2020) provided Piedmont is not then in default and upon payment of extension fees.

Debt (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Debt (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Debt Disclosure [Abstract]
Interest payments on debt facilities	$ 16,700	$ 15,400	$ 36,000	$ 34,700
Capitalized interest	$ 35	$ 735	$ 100	$ 1,900

Variable Interest Entities (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Eye Street 1201 N.W. Associates LLC [Member]
Variable Interest Entity [Line Items]
Piedmont’s % Ownership of Entity	49.50%
Net Carrying Amount	$ (0.9)	$ (6.7)
Primary Beneficiary Considerations, percentage of cash flow and economic benefits	100.00%
Eye Street 1225 N.W. Associates LLC [Member]
Variable Interest Entity [Line Items]
Piedmont’s % Ownership of Entity	49.50%
Net Carrying Amount	$ 8.8	9.9
Primary Beneficiary Considerations, percentage of cash flow and economic benefits	100.00%
Piedmont 500 W. Monroe Fee LLC [Member]
Variable Interest Entity [Line Items]
Piedmont’s % Ownership of Entity	100.00%
Net Carrying Amount	$ 267.6	$ 262.4
Primary Beneficiary Considerations, percentage of cash flow and economic benefits	100.00%

Derivative Instruments (Details)

3 Months Ended

6 Months Ended

Jun. 30, 2017

USD ($)

contract

Jun. 30, 2016

USD ($)

Jun. 30, 2017

USD ($)

contract

Jun. 30, 2016

USD ($)

Dec. 31, 2016

USD ($)

Maximum period of extension term

30 months

Interest Rate Cash Flow Hedge Derivative at Fair Value, Net [Abstract]

Gross derivative assets

$ 0

Gross derivative liabilities

5,061,000

8,169,000

Net derivative liability

5,061,000

$ 8,169,000

Loss to be reclassified from accumulated other comprehensive loss to interest expense over next twelve months

1,700,000

$ 0

Interest Rate Swap [Member]

Interest Rate Swap [Member] | Interest Expense [Member]

600,000,000

Interest Rate Cash Flow Hedge Derivative at Fair Value, Net [Abstract]

Amount of gain/(loss) recognized in OCI

(911,000)

(4,068,000)

132,000

(15,029,000)

Amount of previously recorded loss reclassified from accumulated OCI into interest expense

977,000

$ 1,113,000

2,283,000

$ 2,246,000

Credit Risk Contract [Member]

Interest Rate Cash Flow Hedge Derivative at Fair Value, Net [Abstract]

Assets needed for immediate settlement, aggregate fair value

5,200,000

Unsecured Debt [Member] | $300 million Unsecured 2013 Term Loan [Member]

Unsecured Debt [Member] | $300 million Unsecured 2013 Term Loan [Member] | Interest Rate Swap 1 through 4 [Member]

^[1]

$ 300,000,000

Number of Swap Agreements | contract

Unsecured Debt [Member] | $300 million Unsecured 2013 Term Loan [Member] | Interest Rate Swap 5 through 6 [Member]

$ 200,000,000

Number of Swap Agreements | contract

Unsecured Debt [Member] | $300 Million Unsecured 2011 Term Loan [Member]

$ 100,000,000

Unsecured Debt [Member] | $300 Million Unsecured 2011 Term Loan [Member] | Interest Rate Swap 7 through 9 [Member]

^[1]

$ 300,000,000

Number of Swap Agreements | contract

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

$ 300,000,000

[1]	Other than the $35 Million Fixed-Rate Loan, all of Piedmont’s outstanding debt as of June 30, 2017 and December 31, 2016 is interest-only.

Fair Value Measurement of Financial Instruments (Details) - USD ($)
$ in Thousands

Jun. 30, 2017

Dec. 31, 2016

Interest rate swap

$ 5,061

$ 8,169

Carrying Value [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Cash and cash equivalents

^[1]

9,596

6,992

Restricted cash and escrows

^[1]

1,290

1,212

Accounts payable and accrued expenses

^[1]

12,935

44,733

Debt, net

2,053,182

2,020,475

Interest Rate Swap [Member] | Carrying Value [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Interest rate swap

5,061

8,169

Tenant receivables, net [Member] | Carrying Value [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Tenant receivables, net

^[1]

24,269

26,494

Level 1 [Member] | Estimated Fair Value [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Cash and cash equivalents

^[1]

9,596

6,992

Restricted cash and escrows

^[1]

1,290

1,212

Accounts payable and accrued expenses

^[1]

12,935

44,733

Level 1 [Member] | Tenant receivables, net [Member] | Estimated Fair Value [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Tenant receivables, net

^[1]

24,269

26,494

Level 2 [Member] | Estimated Fair Value [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Debt, net

2,081,120

2,027,436

Level 2 [Member] | Interest Rate Swap [Member] | Estimated Fair Value [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Interest rate swap

$ 5,061

$ 8,169

[1]	For the periods presented, the carrying value of these financial instruments approximates estimated fair value due to their short-term maturity.

Impairment Loss on Real Estate Assets (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2017

Jun. 30, 2016

Jun. 30, 2017

Jun. 30, 2016

Impaired Long-Lived Assets Held and Used [Line Items]

Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | 150 West Jefferson [Member]

^[1]

$ 0

$ 10,950

$ 0

$ 10,950

Impaired Long-Lived Assets Held and Used [Line Items]

Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | 9221 Corporate Boulevard [Member]

^[2]

8,259

Impaired Long-Lived Assets Held and Used [Line Items]

Deferred Stock Awards [Member]

^[3]

$ 0

$ 2,691

$ 0

2,691

Loss on impairment

$ 2,700

[1]	The fair value measurements used in the evaluation of the non-financial assets above are considered to be Level 1 valuations within the fair value hierarchy as defined by GAAP, as there are direct observations and transactions involving the assets by unrelated, third-party purchasers.
[2]	Piedmont recognized an impairment loss on real estate assets based upon the difference between the carrying value of the asset and the anticipated contract sales price, less estimated selling costs.
[3]	Piedmont, using a probability-weighted model heavily weighted towards the short-term sale of the 9221 Corporate Boulevard building in Rockville, Maryland, determined that the carrying value would not be recovered from the undiscounted future operating cash flows expected from the use of the asset and its eventual disposition. As a result, Piedmont recognized a loss on impairment of approximately $2.7 million during the six months ended June 30, 2016 calculated as the difference between the carrying value of the asset and the anticipated contract sales price, less estimated selling costs.

Commitments and Contingencies (Details) $ in Thousands	3 Months Ended		6 Months Ended
Commitments and Contingencies (Details) $ in Thousands	Jun. 30, 2017 USD ($) category	Jun. 30, 2016 USD ($)	Jun. 30, 2017 USD ($) category	Jun. 30, 2016 USD ($)
Loss Contingencies [Line Items]
Number of tenant and building improvement categories \| category	2		2
Collectibility of Tenant Reimbursements [Member]
Loss Contingencies [Line Items]
Reductions in reimbursement revenues	$ 20	$ 0	$ 300	$ 0
Non-Incremental Capital Expenditures [Member]
Loss Contingencies [Line Items]
Period for commitments for funding non-incremental capital expenditures			5 years
Potential obligations for tenant improvements	31,400		$ 31,400
Non-Incremental Capital Expenditures [Member] \| Maximum [Member]
Loss Contingencies [Line Items]
Period for commitments for funding non-incremental capital expenditures			3 years
Incremental Capital Expenditures [Member]
Loss Contingencies [Line Items]
Potential obligations for tenant improvements	$ 13,200		$ 13,200

Property Dispositions, Assets Held for Sale, and Discontinued Operations (Property Dispositions) (Details) - Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] - USD ($) $ in Thousands	Jun. 16, 2017	May 02, 2016	Apr. 28, 2016	Apr. 21, 2016
1055 East Colorado Boulevard [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain/(Loss) on Sale				$ 29,462
Net Sales Proceeds				$ 60,076
Fairway Center II [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain/(Loss) on Sale			$ 14,406
Net Sales Proceeds			$ 33,062
1901 Main Street [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain/(Loss) on Sale		$ 29,964
Net Sales Proceeds		$ 63,149
Sarasota Commerce Center II [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain/(Loss) on Sale	$ 6,497
Net Sales Proceeds	$ 23,094

Property Dispositions, Assets Held for Sale, and Discontinued Operations (Assets Held-for-Sale) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total other assets held for sale, net	$ 10,222	$ 9,815
Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total real estate assets held for sale, net	225,071	225,939
Straight-line rent receivables	2,225	2,059
Prepaid expenses and other assets	762	454
Deferred lease costs, less accumulated amortization of $2,892 and $2,825 as of June 30, 2017 and December 31, 2016, respectively	7,235	7,302
Accumulated amortization on deferred lease costs	2,892	2,825
Total other assets held for sale, net	10,222	9,815
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] \| Land [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Real estate assets held for sale, net:	52,710	52,710
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] \| Building and building improvements [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Real estate assets held for sale, net:	172,350	173,218
Accumulated depreciation (building improvements)	89,187	88,319
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] \| Construction in Progress [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Real estate assets held for sale, net:	$ 11	$ 11

Property Dispositions, Assets Held for Sale, and Discontinued Operations (Discontinued Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Expenses:
Operating income	$ 0	$ (1)	$ 0	$ (1)
Income from discontinued operations	0	(1)	0	(1)
Discontinued Operations [Member]
Revenues:
Rental income	0	0	0	0
Tenant reimbursements	0	0	0	0
Revenue	0	0	0	0
Expenses:
Property operating costs	0	0	0	0
General and administrative	0	1	0	1
Expenses	0	1	0	1
Operating income	0	(1)	0	(1)
Loss on sale of real estate assets	0	0	0	0
Income from discontinued operations	$ 0	$ (1)	$ 0	$ (1)

Stock Based Compensation (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense related to stock awards	$ 2.6	$ 3.2	$ 5.7	$ 5.7
Amortization of unvested shares	1.1	$ 1.7	$ 3.9	$ 4.2
Total shares issued to employees, directors, and officers (in shares)			254,532
Unrecognized compensation cost related to nonvested	$ 6.4		$ 6.4
Weighted Average [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to nonvested, weighted-average vesting period			2 years
Stock Awards [Member] \| Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			1 year

Stock Based Compensation (Rollforward of Stock Awards) (Details) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Unvested Stock Awards, Beginning of period (in shares)			944,223
Unvested Stock Awards, End of period (in shares)	968,883		968,883
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Unvested Stock Awards, Weighted-Average Grant Date Fair Value, Beginning of period (in dollars per share)			$ 19.44
Unvested Stock Awards, Weighted-Average Grant Date Fair Value, End of period (in dollars per share)	$ 21.94		$ 21.94
Deferred Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Deferred Stock Awards Granted (in shares)			299,251
Performance Stock Awards and Deferred Stock Awards Vested (in shares)			(301,921)
Deferred Stock Awards Forfeited (in shares)			(4,761)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Deferred Stock Awards Granted, Weighted-Average Grant Date Fair Value (in dollars per share)	$ 21.38	$ 19.96	$ 21.38	$ 19.96
Performance Stock Awards and Deferred Stock Awards Vested, Weighted-Average Grant Date Fair Value (in dollars per share)			19.35
Deferred Stock Awards Forfeited, Weighted-Average Grant Date Fair Value (in dollars per share)			$ 19.57
Performance Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Increase in Estimated Potential Future Performance Share Awards, net of forfeitures (in shares)			150,537
Performance Stock Awards and Deferred Stock Awards Vested (in shares)			(118,446)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Increase in Estimated Potential Future Performance Share Awards, net of forfeitures, Weighted-Average Grant Date Fair Value (in dollars per share)			$ 28.37
Performance Stock Awards and Deferred Stock Awards Vested, Weighted-Average Grant Date Fair Value (in dollars per share)			$ 22.00

Stock Based Compensation (Additional Information Regarding Stock Award Activity) (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2017

Jun. 30, 2016

Jun. 30, 2017

Jun. 30, 2016

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Weighted-Average Grant Date Fair Value of Deferred Stock Granted During the Period (in dollars per share)

$ 21.38

$ 19.96

$ 21.38

$ 19.96

Total Grant Date Fair Value of Deferred Stock Vested During the Period

$ 5,551

$ 4,319

$ 5,841

$ 4,659

Performance Share Awards [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based Liability Awards Paid During the Period

^[1]

$ 0

$ 2,877

$ 1,127

[1]	Amounts reflect the issuance of performance share awards related to the 2014-16 and 2013-15 Performance Share Plans during the six months ended June 30, 2017 and 2016, respectively.

Earnings Per Share (Details) - shares	3 Months Ended		6 Months Ended
Earnings Per Share (Details) - shares	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Earnings Per Share [Abstract]
Weighted-average common shares outstanding – basic (in shares)	145,412,524	145,178,601	145,350,074	145,227,539
Plus: Incremental weighted-average shares from time-vested deferred and performance stock awards (in shares)	400,000	520,000	430,000	537,000
Weighted-average common shares outstanding – diluted (in shares)	145,813,130	145,698,723	145,779,709	145,765,149
Common stock, shares issued	145,489,845	145,230,000	145,489,845	145,230,000	145,235,313
Common stock, shares outstanding	145,489,845	145,230,000	145,489,845	145,230,000	145,235,313

Guarantor and Non-Guarantor Financial Information - Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Assets:
Land	$ 614,934	$ 617,138
Buildings and improvements, less accumulated depreciation	2,742,327	2,754,106
Intangible lease assets, less accumulated amortization	84,989	99,695
Construction in progress	15,651	34,814
Real estate assets held for sale, net	225,071	225,939
Total real estate assets	3,682,972	3,731,692
Investments in and amounts due from unconsolidated joint ventures	7,762	7,360
Cash and cash equivalents	9,596	6,992	$ 21,109	$ 5,441
Tenant and straight-line rent receivables, net	201,732	190,283
Advances to affiliates	0	0
Investment in subsidiary	0	0
Note receivable	0	0
Prepaid expenses, restricted cash, escrows, and other assets	30,744	24,413
Goodwill	98,918	98,918
Deferred lease costs, net	278,366	298,695
Other assets held for sale, net	10,222	9,815
Total assets	4,320,312	4,368,168
Liabilities:
Debt, net	2,053,182	2,020,475
Accounts payable, accrued expenses, and accrued capital expenditures	111,011	165,410
Advances from affiliates	0	0
Deferred income	27,416	28,406
Intangible lease liabilities, net	43,328	48,005
Interest rate swaps	5,061	8,169
Total liabilities	2,239,998	2,270,465
Stockholders’ Equity:
Common stock	1,455	1,452
Additional paid-in capital	3,675,562	3,673,128
Cumulative distributions in excess of earnings	(1,603,119)	(1,580,863)
Other comprehensive loss income	4,547	2,104
Piedmont stockholders’ equity	2,078,445	2,095,821
Noncontrolling interest	1,869	1,882
Total stockholders’ equity	2,080,314	2,097,703		2,123,420
Total liabilities and stockholders’ equity	4,320,312	4,368,168
Eliminations [Member]
Assets:
Land	0	0
Buildings and improvements, less accumulated depreciation	(300)	(300)
Intangible lease assets, less accumulated amortization	0	0
Construction in progress	0	0
Real estate assets held for sale, net	0	0
Total real estate assets	(300)	(300)
Investments in and amounts due from unconsolidated joint ventures	0	0
Cash and cash equivalents	0	0	0	0
Tenant and straight-line rent receivables, net	0	0
Advances to affiliates	(7,781,796)	(7,779,751)
Investment in subsidiary	(3,569,672)	(3,630,745)
Note receivable	(184,700)	(184,700)
Prepaid expenses, restricted cash, escrows, and other assets	(1,091)	(1,897)
Goodwill	0	0
Deferred lease costs, net	0	0
Other assets held for sale, net	0	0
Total assets	(11,537,559)	(11,597,393)
Liabilities:
Debt, net	(184,700)	(184,700)
Accounts payable, accrued expenses, and accrued capital expenditures	(1,091)	(1,897)
Advances from affiliates	(7,880,051)	(7,878,007)
Deferred income	0	0
Intangible lease liabilities, net	0	0
Interest rate swaps	0	0
Total liabilities	(8,065,842)	(8,064,604)
Stockholders’ Equity:
Common stock	0	0
Additional paid-in capital	(3,569,672)	(3,630,745)
Cumulative distributions in excess of earnings	97,955	97,956
Other comprehensive loss income	0	0
Piedmont stockholders’ equity	(3,471,717)	(3,532,789)
Noncontrolling interest	0	0
Total stockholders’ equity	(3,471,717)	(3,532,789)
Total liabilities and stockholders’ equity	(11,537,559)	(11,597,393)
Issuer [Member]
Assets:
Land	43,929	46,133
Buildings and improvements, less accumulated depreciation	209,091	228,194
Intangible lease assets, less accumulated amortization	453	725
Construction in progress	572	145
Real estate assets held for sale, net	0	0
Total real estate assets	254,045	275,197
Investments in and amounts due from unconsolidated joint ventures	7,762	7,360
Cash and cash equivalents	5,181	3,674	16,270	2,174
Tenant and straight-line rent receivables, net	17,266	20,159
Advances to affiliates	6,465,350	6,464,135
Investment in subsidiary	0	0
Note receivable	88,910	88,910
Prepaid expenses, restricted cash, escrows, and other assets	5,007	6,189
Goodwill	98,918	98,918
Deferred lease costs, net	14,500	16,550
Other assets held for sale, net	0	0
Total assets	6,956,939	6,981,092
Liabilities:
Debt, net	1,735,196	1,701,933
Accounts payable, accrued expenses, and accrued capital expenditures	16,328	17,365
Advances from affiliates	729,007	708,340
Deferred income	2,934	5,206
Intangible lease liabilities, net	0	0
Interest rate swaps	5,061	8,169
Total liabilities	2,488,526	2,441,013
Stockholders’ Equity:
Common stock	0	0
Additional paid-in capital	3,565,494	3,626,564
Cumulative distributions in excess of earnings	898,372	911,411
Other comprehensive loss income	4,547	2,104
Piedmont stockholders’ equity	4,468,413	4,540,079
Noncontrolling interest	0	0
Total stockholders’ equity	4,468,413	4,540,079
Total liabilities and stockholders’ equity	6,956,939	6,981,092
Guarantor [Member]
Assets:
Land	0	0
Buildings and improvements, less accumulated depreciation	0	0
Intangible lease assets, less accumulated amortization	0	0
Construction in progress	0	0
Real estate assets held for sale, net	0	0
Total real estate assets	0	0
Investments in and amounts due from unconsolidated joint ventures	0	0
Cash and cash equivalents	150	150	150	150
Tenant and straight-line rent receivables, net	0	0
Advances to affiliates	1,316,446	1,315,616
Investment in subsidiary	3,569,494	3,630,564
Note receivable	0	0
Prepaid expenses, restricted cash, escrows, and other assets	76	0
Goodwill	0	0
Deferred lease costs, net	0	0
Other assets held for sale, net	0	0
Total assets	4,886,166	4,946,330
Liabilities:
Debt, net	0	0
Accounts payable, accrued expenses, and accrued capital expenditures	565	31,230
Advances from affiliates	5,100,839	5,071,521
Deferred income	0	0
Intangible lease liabilities, net	0	0
Interest rate swaps	0	0
Total liabilities	5,101,404	5,102,751
Stockholders’ Equity:
Common stock	1,455	1,452
Additional paid-in capital	3,678,434	3,676,000
Cumulative distributions in excess of earnings	(3,895,127)	(3,833,873)
Other comprehensive loss income	0	0
Piedmont stockholders’ equity	(215,238)	(156,421)
Noncontrolling interest	0	0
Total stockholders’ equity	(215,238)	(156,421)
Total liabilities and stockholders’ equity	4,886,166	4,946,330
Non-Guarantor Subsidiaries [Member]
Assets:
Land	571,005	571,005
Buildings and improvements, less accumulated depreciation	2,533,536	2,526,212
Intangible lease assets, less accumulated amortization	84,536	98,970
Construction in progress	15,079	34,669
Real estate assets held for sale, net	225,071	225,939
Total real estate assets	3,429,227	3,456,795
Investments in and amounts due from unconsolidated joint ventures	0	0
Cash and cash equivalents	4,265	3,168	$ 4,689	$ 3,117
Tenant and straight-line rent receivables, net	184,466	170,124
Advances to affiliates	0	0
Investment in subsidiary	178	181
Note receivable	95,790	95,790
Prepaid expenses, restricted cash, escrows, and other assets	26,752	20,121
Goodwill	0	0
Deferred lease costs, net	263,866	282,145
Other assets held for sale, net	10,222	9,815
Total assets	4,014,766	4,038,139
Liabilities:
Debt, net	502,686	503,242
Accounts payable, accrued expenses, and accrued capital expenditures	95,209	118,712
Advances from affiliates	2,050,205	2,098,146
Deferred income	24,482	23,200
Intangible lease liabilities, net	43,328	48,005
Interest rate swaps	0	0
Total liabilities	2,715,910	2,791,305
Stockholders’ Equity:
Common stock	0	0
Additional paid-in capital	1,306	1,309
Cumulative distributions in excess of earnings	1,295,681	1,243,643
Other comprehensive loss income	0	0
Piedmont stockholders’ equity	1,296,987	1,244,952
Noncontrolling interest	1,869	1,882
Total stockholders’ equity	1,298,856	1,246,834
Total liabilities and stockholders’ equity	$ 4,014,766	$ 4,038,139

Guarantor and Non-Guarantor Financial Information - Condensed Consolidated Statements of Income (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

12 Months Ended

Jun. 30, 2017

Jun. 30, 2016

Jun. 30, 2017

Jun. 30, 2016

Dec. 31, 2016

Revenues:

$ 124,248

$ 111,767

$ 247,698

$ 226,505

24,044

23,086

48,544

45,837

387

454

900

977

148,679

135,307

297,142

273,319

Expenses:

55,779

52,292

111,163

106,571

30,059

31,556

60,827

63,338

19,314

17,402

39,729

35,208

^[1]

10,950

8,036

8,316

16,632

16,089

113,188

120,516

228,351

232,156

35,491

14,791

68,791

41,163

(18,421)

(16,413)

(36,478)

(32,798)

(41)

(62)

253

107

110

118

225

(18,276)

(16,344)

(36,422)

(32,320)

17,215

(1,553)

32,369

8,843

(1)

(1)

6,492

73,835

6,439

73,815

Less: Net loss/(income) applicable to noncontrolling interest

23,707

72,281

38,808

82,657

(3)

(7)

$ 15

23,710

72,278

38,814

82,650

$ 99,732

Eliminations [Member]

Revenues:

(485)

(754)

(944)

(1,518)

(127)

(76)

(230)

(169)

(4,190)

(3,724)

(8,301)

(7,518)

(4,802)

(4,554)

(9,475)

(9,205)

Expenses:

(4,802)

(4,595)

(9,475)

(9,274)

(10,096)

(19,558)

(4,802)

(14,691)

(9,475)

(28,832)

10,137

19,627

3,651

2,423

7,290

4,966

(3,651)

(2,423)

(7,290)

(4,966)

10,137

19,627

Less: Net loss/(income) applicable to noncontrolling interest

10,137

19,627

10,137

19,627

Issuer [Member]

Revenues:

11,092

14,661

22,517

30,127

2,964

3,753

5,964

7,026

14,056

18,414

28,481

37,153

Expenses:

5,853

8,319

11,655

16,762

3,281

4,476

6,744

9,376

803

941

1,659

1,991

8,258

8,259

1,528

8,107

3,231

15,615

11,465

30,101

23,289

52,003

2,591

(11,687)

5,192

(14,850)

(14,810)

(12,170)

(29,254)

(24,360)

2,240

1,735

4,469

4,400

107

110

118

225

(12,463)

(10,325)

(24,667)

(19,735)

(9,872)

(22,012)

(19,475)

(34,585)

6,495

29,966

6,434

29,962

Less: Net loss/(income) applicable to noncontrolling interest

(3,377)

7,954

(13,041)

(4,623)

(3,377)

7,954

(13,041)

(4,623)

Guarantor [Member]

Revenues:

Expenses:

183

168

183

168

(81)

(92)

(183)

(168)

282

282

(81)

190

(183)

114

Less: Net loss/(income) applicable to noncontrolling interest

(81)

190

(183)

114

Non-Guarantor Subsidiaries [Member]

(81)

190

(183)

114

Revenues:

113,641

97,860

226,125

197,896

21,207

19,409

42,810

38,980

4,577

4,178

9,201

8,495

139,425

121,447

278,136

245,371

Expenses:

54,728

48,568

108,983

99,083

26,778

27,080

54,083

53,962

18,511

16,461

38,070

33,217

2,692

2,691

6,427

10,213

13,218

19,864

106,444

105,014

214,354

208,817

32,981

16,433

63,782

36,554

(7,262)

(6,666)

(14,514)

(13,404)

1,449

365

2,759

537

(5,813)

(6,301)

(11,755)

(12,867)

27,168

10,132

52,027

23,687

(1)

(1)

(3)

43,869

43,853

Less: Net loss/(income) applicable to noncontrolling interest

27,165

54,000

52,032

67,539

(3)

(7)