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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenue        
Revenue $ 136,837 $ 144,151 $ 281,925 $ 288,047
Operating expenses        
Property operating expenses 33,292 38,684 70,753 78,184
Real estate taxes 16,815 16,089 33,602 31,872
Third party management expenses 2,375 2,449 5,037 4,566
Depreciation and amortization 49,743 51,667 101,781 103,111
General and administrative expenses 8,343 8,399 16,904 18,243
Total operating expenses 110,568 117,288 228,077 235,976
Gain on sale of real estate        
Net gain on disposition of real estate 0 0 2,586 0
Net gain on sale of undepreciated real estate 201 250 201 1,251
Total gain on sale of real estate 201 250 2,787 1,251
Operating income 26,470 27,113 56,635 53,322
Other income (expense):        
Interest income 445 553 1,020 1,078
Interest expense (20,191) (20,516) (40,200) (40,873)
Interest expense - amortization of deferred financing costs (731) (666) (1,480) (1,332)
Equity in loss of Real Estate Ventures (2,203) (1,491) (4,094) (2,849)
Net gain on real estate venture transactions 0 1,276 0 1,535
Net income before income taxes 3,790 6,269 11,881 10,881
Income tax (provision) benefit 230 (17) 226 (46)
Net income 4,020 6,252 12,107 10,835
Net income attributable to noncontrolling interests (24) (47) (89) (107)
Net income attributable to Brandywine Realty Trust 3,996 6,205 12,018 10,728
Nonforfeitable dividends allocated to unvested restricted shareholders (93) (93) (224) (212)
Net income attributable to Common Shareholders of Brandywine Realty Trust $ 3,903 $ 6,112 $ 11,794 $ 10,516
Basic income per Common Share (in dollars per share) $ 0.02 $ 0.03 $ 0.07 $ 0.06
Diluted income per Common Share (in dollars per share) $ 0.02 $ 0.03 $ 0.07 $ 0.06
Basic weighted average shares outstanding (in shares) 170,518,095 176,143,206 173,294,031 176,001,071
Diluted weighted average shares outstanding (in shares) 170,770,078 176,690,824 173,605,948 176,578,140
BRANDYWINE OPERATING PARTNERSHIP, L.P.        
Revenue        
Revenue $ 136,837 $ 144,151 $ 281,925 $ 288,047
Operating expenses        
Property operating expenses 33,292 38,684 70,753 78,184
Real estate taxes 16,815 16,089 33,602 31,872
Third party management expenses 2,375 2,449 5,037 4,566
Depreciation and amortization 49,743 51,667 101,781 103,111
General and administrative expenses 8,343 8,399 16,904 18,243
Total operating expenses 110,568 117,288 228,077 235,976
Gain on sale of real estate        
Net gain on disposition of real estate 0 0 2,586 0
Net gain on sale of undepreciated real estate 201 250 201 1,251
Total gain on sale of real estate 201 250 2,787 1,251
Operating income 26,470 27,113 56,635 53,322
Other income (expense):        
Interest income 445 553 1,020 1,078
Interest expense (20,191) (20,516) (40,200) (40,873)
Interest expense - amortization of deferred financing costs (731) (666) (1,480) (1,332)
Equity in loss of Real Estate Ventures (2,203) (1,491) (4,094) (2,849)
Net gain on real estate venture transactions 0 1,276 0 1,535
Net income before income taxes 3,790 6,269 11,881 10,881
Income tax (provision) benefit 230 (17) 226 (46)
Net income 4,020 6,252 12,107 10,835
Net income attributable to noncontrolling interests - consolidated real estate ventures (10) (13) (22) (47)
Net income attributable to Brandywine Operating Partnership 4,010 6,239 12,085 10,788
Nonforfeitable dividends allocated to unvested restricted shareholders (93) (93) (224) (212)
Net income attributable to Common Shareholders of Brandywine Realty Trust $ 3,917 $ 6,146 $ 11,861 $ 10,576
Basic income per Common Share (in dollars per share) $ 0.02 $ 0.03 $ 0.07 $ 0.06
Diluted income per Common Share (in dollars per share) $ 0.02 $ 0.03 $ 0.07 $ 0.06
Basic weighted average shares outstanding (in shares) 171,499,729 177,125,064 174,275,665 176,983,433
Diluted weighted average shares outstanding (in shares) 171,751,712 177,672,683 174,587,582 177,560,502
Rents        
Revenue        
Revenue $ 132,180 $ 137,787 $ 271,384 $ 275,885
Rents | BRANDYWINE OPERATING PARTNERSHIP, L.P.        
Revenue        
Revenue 132,180 137,787 271,384 275,885
Third party management fees, labor reimbursement and leasing        
Revenue        
Service and other revenue 4,061 5,148 9,015 9,103
Third party management fees, labor reimbursement and leasing | BRANDYWINE OPERATING PARTNERSHIP, L.P.        
Revenue        
Service and other revenue 4,061 5,148 9,015 9,103
Other        
Revenue        
Service and other revenue 596 1,216 1,526 3,059
Other | BRANDYWINE OPERATING PARTNERSHIP, L.P.        
Revenue        
Service and other revenue $ 596 $ 1,216 $ 1,526 $ 3,059