XML 34 R13.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - BRANDYWINE OPERATING PARTNERSHIP, L.P. - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenue      
Total revenue $ 514,651 $ 506,100 $ 486,819
Operating expenses      
Property operating expenses 129,885 130,209 121,890
Real estate taxes 49,974 53,645 53,621
Third party management expenses 10,088 10,547 12,800
Depreciation and amortization 188,797 177,984 178,105
General and administrative expenses 34,862 35,006 30,153
Provision for impairment 131,573 4,663 0
Total operating expenses 545,179 412,054 396,569
Gain on sale of real estate      
Net gain on disposition of real estate 7,736 17,677 142
Net gain on sale of undepreciated real estate 1,211 8,007 2,903
Total gain on sale of real estate 8,947 25,684 3,045
Operating income (loss) (21,581) 119,730 93,295
Other income (expense):      
Interest and investment income 1,671 1,905 8,295
Interest expense (95,456) (68,764) (62,617)
Interest expense - amortization of deferred financing costs (4,369) (3,091) (2,836)
Investment (loss) income (77,915) (22,016) (26,697)
Net gain on real estate venture transactions 181 26,718 2,973
Gain (loss) on early extinguishment of debt 138 (435) 0
Net income (loss) before income taxes (197,331) 54,047 12,413
Income tax provision (72) (55) (47)
Net income (loss) (197,403) 53,992 12,366
Nonforfeitable dividends allocated to unvested restricted shareholders (567) (456) (421)
Net income (loss) attributable to common shareholders, Basic $ (197,356) $ 53,368 $ 11,868
Basic income (loss) per Common Share (in dollars per shares) $ (1.15) $ 0.31 $ 0.07
Diluted income (loss) per Common Share (in dollars per share) $ (1.15) $ 0.31 $ 0.07
Basic weighted average shares outstanding (in shares) 171,959,210 171,491,369 170,878,185
Diluted weighted average shares outstanding (in shares) 171,959,210 172,325,646 172,273,240
Rents      
Revenue      
Total revenue $ 479,849 $ 470,851 $ 451,519
Third party management fees, labor reimbursement and leasing      
Revenue      
Total revenue 24,417 24,132 26,444
Other      
Revenue      
Total revenue 10,385 11,117 8,856
BRANDYWINE OPERATING PARTNERSHIP, L.P.      
Revenue      
Total revenue 514,651 506,100 486,819
Operating expenses      
Property operating expenses 129,885 130,209 121,890
Real estate taxes 49,974 53,645 53,621
Third party management expenses 10,088 10,547 12,800
Depreciation and amortization 188,797 177,984 178,105
General and administrative expenses 34,862 35,006 30,153
Provision for impairment 131,573 4,663 0
Total operating expenses 545,179 412,054 396,569
Gain on sale of real estate      
Net gain on disposition of real estate 7,736 17,677 142
Net gain on sale of undepreciated real estate 1,211 8,007 2,903
Total gain on sale of real estate 8,947 25,684 3,045
Operating income (loss) (21,581) 119,730 93,295
Other income (expense):      
Interest and investment income 1,671 1,905 8,295
Interest expense (95,456) (68,764) (62,617)
Interest expense - amortization of deferred financing costs (4,369) (3,091) (2,836)
Investment (loss) income (77,915) (22,016) (26,697)
Net gain on real estate venture transactions 181 26,718 2,973
Gain (loss) on early extinguishment of debt 138 (435) 0
Net income (loss) before income taxes (197,331) 54,047 12,413
Income tax provision (72) (55) (47)
Net income (loss) (197,403) 53,992 12,366
Net loss attributable to noncontrolling interests - consolidated real estate ventures 22 2 3
Net income (loss) attributable to Brandywine Operating Partnership (197,381) 53,994 12,369
Nonforfeitable dividends allocated to unvested restricted shareholders (567) (456) (421)
Net income (loss) attributable to common shareholders, Basic $ (197,948) $ 53,538 $ 11,948
Basic income (loss) per Common Share (in dollars per shares) $ (1.15) $ 0.31 $ 0.07
Diluted income (loss) per Common Share (in dollars per share) $ (1.15) $ 0.31 $ 0.07
Basic weighted average shares outstanding (in shares) 172,475,645 172,036,481 171,770,843
Diluted weighted average shares outstanding (in shares) 172,475,645 172,870,758 173,165,898
BRANDYWINE OPERATING PARTNERSHIP, L.P. | Rents      
Revenue      
Total revenue $ 479,849 $ 470,851 $ 451,519
BRANDYWINE OPERATING PARTNERSHIP, L.P. | Third party management fees, labor reimbursement and leasing      
Revenue      
Total revenue 24,417 24,132 26,444
BRANDYWINE OPERATING PARTNERSHIP, L.P. | Other      
Revenue      
Total revenue $ 10,385 $ 11,117 $ 8,856