A $6.8 million increase in interest expense driven by a higher average debt balance during the fourth quarter as a result of the acquisition of 1180 Peachtree Street in Atlanta during the third quarter and higher interest rates on the Company's variable rate debt.$2.2 million in severance costs associated with a reorganization of the Company's management structure during the fourth quarter and,.$26.0 million of non-cash impairment losses associated with: (a) a partial write down of the Company's goodwill balance driven by the decline of the stock market and the Company's stock price during the fourth quarter and (b) the write down of one property as a result of a reduction in the assumed hold period for that particular asset.$101.1 million in gain on sale of real estate assets primarily associated with the previously announced sales of the Company's two Cambridge, MA properties during the fourth quarter.Net income applicable to Piedmont for the three months ended December 31, 2022 included the following:.(Decrease)\Increase in Same Store NOI - Accrual BasisĪdjusted Funds From Operations applicable to common stock
Increase in Same Store Net Operating Income ("Same Store NOI") - Cash Basis Net income/(loss) per share applicable to common stockholders - dilutedĬore Funds From Operations ("Core FFO") applicable to common stock (in 000s other than per share amounts and %) Highlights for the Three Months and Year Ended December 31, 2022: Sunbelt markets, today announced its results for the quarter and year ended December 31, 2022. ("Piedmont" or the "Company") (NYSE:PDM), an owner of Class A office properties located primarily in major U.S. 08, 2023 (GLOBE NEWSWIRE) - Piedmont Office Realty Trust, Inc.
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