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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
REVENUE:      
Base rent $ 226,609 $ 230,898 $ 252,115
Recovery of Direct Costs 106,522 109,454 118,880
Percentage rent 4,291 4,366 5,245
Lease termination revenue 8,729 2,760 4,460
Other Revenue (Expense) from Real Estate Operations 12,078 14,046 13,897
Real estate revenue 358,229 361,524 394,597
Other income 4,171 5,966 5,349
Total revenue 362,400 367,490 399,946
Property operating expenses:      
CAM and real estate taxes (113,235) (111,275) (124,690)
Utilities (15,990) (16,151) (17,053)
Other property operating expenses (12,007) (12,879) (14,475)
Cost of Revenue 141,232 140,305 156,218
Depreciation and amortization (133,116) (128,822) (126,669)
Other expenses:      
Impairment of assets 137,487 55,793 62,603
General and administrative expenses (38,342) (36,736) (35,269)
Provision for employee separation expense (1,139) (1,299) (1,355)
Project costs and other expenses (693) (768) (1,700)
Interest expense, net (61,355) (58,430) (70,724)
Project costs and other expenses (512,675) (422,153) (454,538)
Total operating expenses 313,833 307,930 321,211
Loss before equity in income of partnerships and gains on sales of real estate and non operating real estate (150,275) (54,663) (54,592)
Equity in income of partnerships 11,375 14,367 18,477
Equity Method Investment, Realized Gain (Loss) on Disposal 2,772 6,539 0
Gain on sales of real estate by equity method investee 1,525 (361) 23,022
Net loss attributable to PREIT (110,329) (25,953) (9,663)
Less: preferred share dividends (27,375) (27,845) (15,848)
Preferred Stock Redemption Premium 0 (4,103) 0
Net loss attributable to PREIT common shareholders (137,704) (57,901) (25,511)
Net loss (126,503) (32,848) (12,713)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Noncontrolling Interest (16,174) (6,895) (3,050)
Net Income (Loss) Attributable to Noncontrolling Interest (16,174) (6,895) (3,050)
Preferred share dividends (27,375) (27,845) (15,848)
Dividends on unvested restricted shares (542) (372) (322)
Net loss used to calculate earnings per share – basic and diluted $ (138,246) $ (58,273) $ (25,833)
Basic and diluted loss per share      
Loss from continuing operations (in dollars per share) $ (1.98) $ (0.84) $ (0.37)
Basic and diluted earnings (loss) per share (in dollars per share) $ (1.98) $ (0.84)  
Weighted average shares outstanding – basic 69,749 69,364 69,086
Weighted average shares outstanding – diluted 69,749 69,364 69,086
Gain Loss On Sale Of Real Estate $ 8,100 $ 1,270 $ 380