Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2014

Discontinued Operations and Disposal Groups [Abstract]

Disposition and properties held for sale

All current and prior period income from the following office and parking property dispositions are included in discontinued operations for the years ended December 31, 2014, 2013 and 2012 (in thousands).

Office and Parking Properties	Location	Date of Sale	Net Sales Price		Net Book Value of Real Estate		Gain on Sale			Impairment Loss
Falls Pointe	Atlanta, GA	01/06/2012	$	5,824	$	4,467	$	1,357		$	—
111 East Wacker	Chicago, IL	01/09/2012	153,240		153,237		3			19,050
Renaissance Center	Memphis, TN	03/01/2012	27,661		24,629		3,032			9,200
Non-Core Assets	Various	Various	125,486		122,157		3,329			51,889
Overlook II	Atlanta, GA	04/30/2012	29,467		28,689		778			10,500
Wink	New Orleans, LA	06/08/2012	705		803		(98		)	—
Ashford Center/Peachtree Ridge	Atlanta, GA	07/01/2012	29,440		28,148		1,292			17,200
Sugar Grove	Houston, TX	10/23/2012	10,303		7,058		3,245			—
2012 Dispositions (1)			$	382,126	$	369,188	$	12,938		$	107,839
Atrium at Stoneridge (2)	Columbia, SC	03/20/2013	2,966		2,424		542			3,500
Waterstone (3)	Atlanta, GA	07/10/2013	3,247		3,207		40			3,000
Meridian (3)	Atlanta, GA	07/10/2013	6,615		6,560		55			1,600
Bank of America Plaza	Nashville, TN	07/17/2013	41,093		29,643		11,450			—
Lakewood II	Atlanta, GA	10/31/2013	10,240		4,403		5,837			—
Carmel Crossing	Charlotte, NC	11/08/2013	36,673		22,104		14,569			—
2013 Dispositions (4)			$	100,834	$	68,341	$	32,493		$	8,100
Woodbranch Building	Houston, TX	01/14/2014	14,424		4,450		9,974			—
Mesa Corporate Center (3)	Phoenix, AZ	01/31/2014	12,257		11,768		489			5,600
2014 Dispositions (5)			$	26,681	$	16,218	$	10,463		$	5,600

(1) Total gain on the sale of real estate in discontinued operations recognized for the year ended December 31, 2012 was $12.9 million, of which $8.1 million was the Company's proportionate share.

(2) The impairment loss on real estate in connection with Atrium at Stoneridge was recognized in discontinued operations during the year ended December 31, 2012.

(3) The impairment loss on real estate recognized in discontinued operations during the year ended December 31, 2013 was comprised of a $4.6 million loss in connection with the Company's Waterstone and Meridian properties that were sold in 2013 and a $5.6 million loss in connection with the valuation of Mesa Corporate Center based on its estimated fair value of the asset, and which was classified as held for sale at December 31, 2013.

(4) Total gain on the sale of real estate in discontinued operations recognized during the year ended December 31, 2013 was $32.5 million, of which $18.2 million was the Company's proportionate share.

(5) With the adoption of ASU 2014-08, "Reporting Discontinued Operations and Disposals of Components of an Entity" effective January 1, 2014, the Company's 2014 sales of the Woodbranch Building and Mesa Corporate Center are included in discontinued operations for the year ended December 31, 2014 as these properties were previously classified as held for sale at December 31, 2013. The Company's 2014 sales of Schlumberger Building and 525 North Tryon are included in the continuing operations section of the consolidated statement of operations and comprehensive income (loss) as they were not previously classified as held for sale in any prior period financial statements.

The amount of revenues and expenses for these office and parking properties reported in discontinued operations for the years ended December 31, 2014, 2013 and 2012 is as follows (in thousands):

	Year Ended
	December 31,
	2014			2013			2012
Statement of Operations:
Revenues
Income from office and parking properties	$	99		$	14,976		$	34,345
	99			14,976			34,345
Expenses
Operating expenses	373			6,835			15,029
Management company expense	1			(39		)	350
Interest expense	—			485			6,143
(Gain) loss on extinguishment of debt	—			2,149			(1,494		)
Non-cash expense on interest rate swap	—			—			(215		)
Depreciation and amortization	116			4,561			7,843
Impairment loss	—			10,200			3,500
	490			24,191			31,156
Other Income/Expenses
Equity in loss of unconsolidated joint ventures	—			—			(19		)
Income (loss) from discontinued operations	(391		)	(9,215		)	3,170
Gain on sale of real estate from discontinued operations	10,463			32,493			12,938
Total discontinued operations per Statement of Operations	10,072			23,278			16,108
Net (income) loss attributable to noncontrolling interest from discontinued operations	(352		)	(13,443		)	(4,820		)
Total discontinued operations – Parkway's Share	$	9,720		$	9,835		$	11,288