This paper comprehensively investigates the performance of the D2D underlaying cellular networks where D2D communications are operated concurrently with cellular networks provided that the aggregate interference measured on licensed users is strictly guaranteed. In particular, we derive the outage probability (OP), the average rate, and the amount of fading (AoF) of the D2D networks in closed-form expressions under three distinct power allocation schemes, i.e., the path-loss-based, equal, and random allocation schemes. It is noted that the considered networks take into consideration the impact of the intra-D2D networks, the inter-interference from the cellular networks and background noise, thus involving many random variables and leading to a complicated mathematical framework. Moreover, we also reveal the behavior of the OP with respect to the transmit power based on the rigorous mathematical frameworks rather than the computer-based simulation results. The derived framework shows that increasing the transmit power is beneficial for the OP of the D2D users. Regarding the cellular networks, the coverage probability (Pcov) of the cellular users is computed in closed-form expression too. Monte Carlo simulations are given to verify the accuracy of the proposed mathematical frameworks. Our findings illustrate that the power allocation method based on prior path-loss information outperforms the other methods in the average sum rate.