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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue                
Total revenue $ 129,372     $ 125,569     $ 384,481 $ 377,116
Operating expenses                
Property operating expenses 31,123     32,624     96,608 97,283
Real estate taxes 12,808     12,313     38,981 39,872
Third party management expenses 2,468     2,549     7,664 7,898
Depreciation and amortization 48,966     45,134     141,645 132,875
General and administrative expenses 8,069     7,564     26,911 25,892
Provision for impairment 11,666     0     16,134 0
Total operating expenses 115,100     100,184     327,943 303,820
Gain on sale of real estate                
Net gain on disposition of real estate 0     8,669     0 8,813
Net gain on sale of undepreciated real estate 0     2,983     781 8,007
Total gain on sale of real estate 0     11,652     781 16,820
Operating income 14,272     37,037     57,319 90,116
Other income (expense):                
Interest income 293     498     1,318 1,387
Interest expense (24,355)     (17,061)     (70,677) (49,144)
Interest expense - amortization of deferred financing costs (1,110)     (745)     (3,251) (2,259)
Equity in loss of unconsolidated real estate ventures (10,739)     (6,260)     (24,504) (15,804)
Net gain on real estate venture transactions 0     0     181 0
Net income (loss) before income taxes (21,639)     13,469     (39,614) 24,296
Income tax benefit (provision) 3     9     (35) (66)
Net income (loss) (21,636) $ (12,737) $ (5,276) 13,478 $ 4,651 $ 6,101 (39,649) 24,230
Net (income) loss attributable to noncontrolling interests 82     (37)     140 (59)
Net income (loss) attributable to Brandywine Realty Trust (21,554)     13,441     (39,509) 24,171
Nonforfeitable dividends allocated to unvested restricted shareholders (159)     (105)     (433) (351)
Net income (loss) attributable to Common Shareholders of Brandywine Realty Trust $ (21,713)     $ 13,336     $ (39,942) $ 23,820
Basic income (loss) per Common Share (in dollars per share) $ (0.13)     $ 0.08     $ (0.23) $ 0.14
Diluted income (loss) per Common Share (in dollars per share) $ (0.13)     $ 0.08     $ (0.23) $ 0.14
Basic weighted average shares outstanding (in shares) 172,097,661     171,569,807     171,912,552 171,464,936
Diluted weighted average shares outstanding (in shares) 172,097,661     172,152,256     171,912,552 172,435,153
Rents                
Revenue                
Total revenue $ 121,661     $ 117,481     $ 360,642 $ 350,279
Third party management fees, labor reimbursement and leasing                
Revenue                
Total revenue 6,553     6,872     18,782 17,904
Other                
Revenue                
Total revenue $ 1,158     $ 1,216     $ 5,057 $ 8,933