XML 18 R4.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenue        
Total revenue $ 125,569 $ 120,418 $ 377,116 $ 361,289
Operating expenses        
Property operating expenses 32,624 30,304 97,283 88,503
Real estate taxes 12,313 13,421 39,872 42,784
Third party management expenses 2,549 3,327 7,898 9,866
Depreciation and amortization 45,134 48,175 132,875 131,303
General and administrative expenses 7,564 7,076 25,892 22,016
Total operating expenses 100,184 102,303 303,820 294,472
Gain on sale of real estate        
Net gain on disposition of real estate 8,669 0 8,813 142
Net gain on sale of undepreciated real estate 2,983 910 8,007 2,903
Total gain on sale of real estate 11,652 910 16,820 3,045
Operating income 37,037 19,025 90,116 69,862
Other income (expense):        
Interest and investment income 498 4,494 1,387 7,845
Interest expense (17,061) (15,190) (49,144) (46,973)
Interest expense - amortization of deferred financing costs (745) (709) (2,259) (2,127)
Equity in loss of unconsolidated real estate ventures (6,260) (6,634) (15,804) (20,798)
Net income before income taxes 13,469 986 24,296 7,809
Income tax (provision) benefit 9 (12) (66) (46)
Net income 13,478 974 24,230 7,763
Net income attributable to noncontrolling interests (37) (7) (59) (42)
Net income attributable to Brandywine Realty Trust 13,441 967 24,171 7,721
Nonforfeitable dividends allocated to unvested restricted shareholders (105) (91) (351) (331)
Net income attributable to Common Partnership Unitholders of Brandywine Operating Partnership, L.P. $ 13,336 $ 876 $ 23,820 $ 7,390
Basic income per Common Share (in dollars per share) $ 0.08 $ 0.01 $ 0.14 $ 0.04
Diluted income per Common Share (in dollars per share) $ 0.08 $ 0.01 $ 0.14 $ 0.04
Basic weighted average shares outstanding (in shares) 171,569,807 170,907,018 171,464,936 170,794,585
Weighted average units outstanding, diluted (in shares) 172,152,256 172,237,194 172,435,153 172,077,950
Rents        
Revenue        
Total revenue $ 117,481 $ 112,159 $ 350,279 $ 336,878
Third party management fees, labor reimbursement and leasing        
Revenue        
Total revenue 6,872 6,500 17,904 19,778
Other        
Revenue        
Total revenue $ 1,216 $ 1,759 $ 8,933 $ 4,633