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Consolidated Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenue:        
Rents $ 120,288 $ 116,382 $ 363,581 $ 347,054
Tenant reimbursements 20,095 20,694 64,057 60,595
Termination fees 1,418 2,040 6,970 2,946
Third party management fees, labor reimbursement and leasing 3,932 3,263 12,269 9,652
Other 825 975 2,295 3,305
Total revenue 146,558 143,354 449,172 423,552
Expenses:        
Property operating expenses 42,675 40,639 132,612 119,421
Real estate taxes 12,869 14,167 39,167 42,639
Third party management expenses 1,687 1,317 5,133 4,105
Depreciation and amortization 52,616 50,583 157,773 149,300
General and administrative expenses 5,900 6,436 20,086 20,323
Total operating expenses 115,747 113,142 354,771 335,788
Operating Income 30,811 30,212 94,401 87,764
Other income (expense):        
Interest income 528 268 1,298 448
Historic tax credit transaction income 11,853 11,853 11,853 11,853
Interest expense (31,481) (30,338) (94,837) (91,689)
Amortization of deferred financing costs (1,566) (1,158) (3,952) (3,502)
Interest expense — financing obligation (273) (264) (861) (693)
Recognized hedge activity (828) 0 (828) 0
Equity in income (loss) of real estate ventures (486) 714 (733) 3,757
Net gain on disposition of real estate 4,698 0 4,698 0
Net gain (loss) on sale of undepreciated real estate 0 (129) 1,184 (129)
Net gain from remeasurement of investment in RE ventures 0 0 458 7,847
Net gain (loss) on real estate venture transactions 0 0 (417) 3,683
Loss on early extinguishment of debt (2,606) (11) (2,606) (1,127)
Provision for impairment on assets held for sale (1,765) 0 (1,765) 0
Income from continuing operations 8,885 11,147 7,893 18,212
Discontinued operations:        
Income (loss) from discontinued operations 0 (43) 18 946
Net gain (loss) on disposition of discontinued operations (3) (16) 900 3,029
Total discontinued operations (3) (59) 918 3,975
Net income 8,882 11,088 8,811 22,187
Net (income) loss from discontinued operations attributable to non-controlling interests — LP units 0 1 (10) (52)
Net income attributable to non-controlling interest — partners' share of consolidated real estate ventures (24) 0 (12) 0
Net income attributable to non-controlling interests — LP units (84) (106) (35) (143)
Net income attributable to non-controlling interests (108) (105) (57) (195)
Net income attributable to Brandywine Realty Trust 8,774 10,983 8,754 21,992
Distribution to Preferred Shares (1,725) (1,725) (5,175) (5,175)
Nonforfeitable dividends allocated to unvested restricted shareholders (82) (85) (268) (278)
Net income (loss) attributable to Common Shareholders of Brandywine Realty Trust 6,967 9,173 3,311 16,539
Basic income per Common Share:        
Continuing operations $ 0.04 $ 0.06 $ 0.01 $ 0.08
Discontinued operations $ 0.00 $ 0.00 $ 0.01 $ 0.03
Net income (loss) attributable to common shareholders/unitholders, Basic $ 0.04 $ 0.06 $ 0.02 $ 0.11
Diluted income per Common Share:        
Continuing operations $ 0.04 $ 0.06 $ 0.01 $ 0.08
Discontinued operations $ 0.00 $ 0.00 $ 0.01 $ 0.03
Net income attributable to common shareholders/unitholders, Diluted $ 0.04 $ 0.06 $ 0.02 $ 0.11
Weighted Average Number of Shares Outstanding, Basic 171,606,722 156,703,348 161,866,955 151,933,441
Weighted Average Number of Shares Outstanding, Diluted 173,193,870 157,992,082 163,353,970 153,142,825
Net income attributable to Brandywine Realty Trust        
Total continuing operations 8,777 11,041 7,846 18,069
Total discontinued operations (3) (58) 908 3,923
Net income 8,882 11,088 8,811 22,187
Net income (Loss) attributable to Brandywine Realty Trust 8,774 10,983 8,754 21,992
BRANDYWINE OPERATING PARTNERSHIP, L.P.
       
Revenue:        
Rents 120,288 116,382 363,581 347,054
Tenant reimbursements 20,095 20,694 64,057 60,595
Termination fees 1,418 2,040 6,970 2,946
Third party management fees, labor reimbursement and leasing 3,932 3,263 12,269 9,652
Other 825 975 2,295 3,305
Total revenue 146,558 143,354 449,172 423,552
Expenses:        
Property operating expenses 42,675 40,639 132,612 119,421
Real estate taxes 12,869 14,167 39,167 42,639
Third party management expenses 1,687 1,317 5,133 4,105
Depreciation and amortization 52,616 50,583 157,773 149,300
General and administrative expenses 5,900 6,436 20,086 20,323
Total operating expenses 115,747 113,142 354,771 335,788
Operating Income 30,811 30,212 94,401 87,764
Other income (expense):        
Interest income 528 268 1,298 448
Historic tax credit transaction income 11,853 11,853 11,853 11,853
Interest expense (31,481) (30,338) (94,837) (91,689)
Amortization of deferred financing costs (1,566) (1,158) (3,952) (3,502)
Interest expense — financing obligation (273) (264) (861) (693)
Recognized hedge activity (828) 0 (828) 0
Equity in income (loss) of real estate ventures (486) 714 (733) 3,757
Net gain on disposition of real estate 4,698 0 4,698 0
Net gain (loss) on sale of undepreciated real estate 0 (129) 1,184 (129)
Net gain from remeasurement of investment in RE ventures 0 0 458 7,847
Net gain (loss) on real estate venture transactions 0 0 (417) 3,683
Loss on early extinguishment of debt (2,606) (11) (2,606) (1,127)
Provision for impairment on assets held for sale (1,765) 0 (1,765) 0
Income from continuing operations 8,885 11,147 7,893 18,212
Discontinued operations:        
Income (loss) from discontinued operations 0 (43) 18 946
Net gain (loss) on disposition of discontinued operations (3) (16) 900 3,029
Total discontinued operations (3) (59) 918 3,975
Net income 8,882 11,088 8,811 22,187
Net income attributable to non-controlling interest — partners' share of consolidated real estate ventures (24) 0 (12) 0
Net income attributable to Brandywine Realty Trust 8,858 11,088 8,799 22,187
Distribution to Preferred Shares (1,725) (1,725) (5,175) (5,175)
Nonforfeitable dividends allocated to unvested restricted shareholders (82) (85) (268) (278)
Net income (loss) attributable to Common Shareholders of Brandywine Realty Trust 7,051 9,278 3,356 16,734
Basic income per Common Share:        
Continuing operations $ 0.04 $ 0.06 $ 0.01 $ 0.08
Discontinued operations $ 0.00 $ 0.00 $ 0.01 $ 0.03
Net income (loss) attributable to common shareholders/unitholders, Basic $ 0.04 $ 0.06 $ 0.02 $ 0.11
Diluted income per Common Share:        
Continuing operations $ 0.04 $ 0.06 $ 0.01 $ 0.08
Discontinued operations $ 0.00 $ 0.00 $ 0.01 $ 0.03
Net income attributable to common shareholders/unitholders, Diluted $ 0.04 $ 0.06 $ 0.02 $ 0.11
Weighted Average Number of Shares Outstanding, Basic 173,341,782 158,467,087 163,620,963 153,731,070
Weighted Average Number of Shares Outstanding, Diluted 174,928,930 159,755,821 165,107,978 154,940,454
Net income attributable to Brandywine Realty Trust        
Total continuing operations 8,861 11,147 7,881 18,212
Total discontinued operations (3) (59) 918 3,975
Net income 8,882 11,088 8,811 22,187
Net income (Loss) attributable to Brandywine Realty Trust $ 8,858 $ 11,088 $ 8,799 $ 22,187