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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenue        
Rents $ 101,557 $ 103,624 $ 204,889 $ 213,787
Tenant reimbursements 18,038 15,937 36,573 35,991
Termination fees 140 554 1,813 848
Third party management fees, labor reimbursement and leasing 7,080 6,208 13,565 11,443
Other 976 858 1,871 1,614
Total revenue 127,791 127,181 258,711 263,683
Operating expenses        
Property operating expenses 37,215 36,079 74,100 76,958
Real estate taxes 11,078 11,481 22,827 23,367
Third party management expenses 2,325 2,661 4,772 4,671
Depreciation and amortization 44,263 46,907 90,155 95,780
General and administrative expenses 6,320 6,076 15,745 15,196
Provision for impairment 327 5,679 3,057 13,069
Total operating expenses 101,528 108,883 210,656 229,041
Operating income 26,263 18,298 48,055 34,642
Other income (expense)        
Interest income 163 359 556 679
Interest expense (20,304) (19,829) (41,741) (43,520)
Interest expense - amortization of deferred financing costs (596) (644) (1,230) (1,418)
Interest expense - financing obligation 0 (242) 0 (523)
Equity in income (loss) of Real Estate Ventures 1,084 (1,666) 336 (2,069)
Net gain (loss) on disposition of real estate 1,088 (727) 8,411 114,729
Net gain on Real Estate Venture transactions 0 3,128 14,582 9,057
Loss on early extinguishment of debt 0 0 0 (66,590)
Net income (loss) 7,698 (1,323) 28,969 44,987
Net income from continuing operations attributable to non-controlling interests - consolidated real estate ventures (45) 22 (214) (367)
Net (income) loss attributable to non-controlling interests (45) 22 (214) (367)
Net income (loss) attributable to Brandywine Realty Trust 7,653 (1,301) 28,755 44,620
Distribution to preferred shareholders (307) (1,725) (2,032) (3,450)
Preferred share redemption charge (3,181) 0 (3,181) 0
Nonforfeitable dividends allocated to unvested restricted shareholders (73) (79) (172) (184)
Net income (loss) attributable to Common Shareholders of Brandywine Realty Trust $ 4,092 $ (3,105) $ 23,370 $ 40,986
Basic income (loss) per Common Share $ 0.02 $ (0.02) $ 0.13 $ 0.23
Diluted income (loss) per Common Share $ 0.02 $ (0.02) $ 0.13 $ 0.23
Basic weighted average shares outstanding 175,333,300 175,013,291 175,255,564 174,901,118
Diluted weighted average shares outstanding 176,756,598 175,013,291 176,480,380 175,823,970
Distributions declared per Common Share $ 0.16 $ 0.16 $ 0.32 $ 0.31
BRANDYWINE OPERATING PARTNERSHIP, L.P.        
Revenue        
Rents $ 101,557 $ 103,624 $ 204,889 $ 213,787
Tenant reimbursements 18,038 15,937 36,573 35,991
Termination fees 140 554 1,813 848
Third party management fees, labor reimbursement and leasing 7,080 6,208 13,565 11,443
Other 976 858 1,871 1,614
Total revenue 127,791 127,181 258,711 263,683
Operating expenses        
Property operating expenses 37,215 36,079 74,100 76,958
Real estate taxes 11,078 11,481 22,827 23,367
Third party management expenses 2,325 2,661 4,772 4,671
Depreciation and amortization 44,263 46,907 90,155 95,780
General and administrative expenses 6,320 6,076 15,745 15,196
Provision for impairment 327 5,679 3,057 13,069
Total operating expenses 101,528 108,883 210,656 229,041
Operating income 26,263 18,298 48,055 34,642
Other income (expense)        
Interest income 163 359 556 679
Interest expense (20,304) (19,829) (41,741) (43,520)
Interest expense - amortization of deferred financing costs (596) (644) (1,230) (1,418)
Interest expense - financing obligation 0 (242) 0 (523)
Equity in income (loss) of Real Estate Ventures 1,084 (1,666) 336 (2,069)
Net gain (loss) on disposition of real estate 1,088 (727) 8,411 114,729
Net gain on Real Estate Venture transactions 0 3,128 14,582 9,057
Loss on early extinguishment of debt 0 0 0 (66,590)
Net income (loss) 7,698 (1,323) 28,969 44,987
Net income from continuing operations attributable to non-controlling interests - consolidated real estate ventures (8) (4) (13) (6)
Net income (loss) attributable to Brandywine Realty Trust 7,690 (1,327) 28,956 44,981
Distribution to preferred shareholders (307) (1,725) (2,032) (3,450)
Preferred share redemption charge (3,181) 0 (3,181) 0
Nonforfeitable dividends allocated to unvested restricted shareholders (73) (79) (172) (184)
Net income (loss) attributable to Common Shareholders of Brandywine Realty Trust $ 4,129 $ (3,131) $ 23,571 $ 41,347
Basic income (loss) per Common Share $ 0.02 $ (0.02) $ 0.13 $ 0.23
Diluted income (loss) per Common Share $ 0.02 $ (0.02) $ 0.13 $ 0.23
Basic weighted average shares outstanding 176,813,099 176,541,708 176,735,363 176,432,877
Diluted weighted average shares outstanding 178,236,397 176,541,708 177,960,179 177,355,730
Distributions declared per Common Share $ 0.16 $ 0.16 $ 0.32 $ 0.31