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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2018
Dec. 31, 2017
Real estate investments:    
Operating properties $ 3,864,629 $ 3,832,348
Accumulated depreciation (931,194) (895,091)
Operating real estate investments, net 2,933,435 2,937,257
Construction-in-progress 120,593 121,188
Land held for development [1] 95,658 98,242
Prepaid leasehold interests in land held for development [2] 40,177 0
Total real estate investments, net 3,189,863 3,156,687
Assets held for sale, net 4,254 392
Cash and cash equivalents 108,304 202,179
Accounts receivable, net of allowance of $3,850 and $3,467 as of June 30, 2018 and December 31, 2017, respectively 19,530 17,938
Accrued rent receivable, net of allowance of $13,403 and $13,645 as of June 30, 2018 and December 31, 2017, respectively 176,380 169,760
Investment in Real Estate Ventures, equity method 170,361 194,621
Deferred costs, net 96,184 96,695
Intangible assets, net 59,418 64,972
Other assets 167,225 92,204
Total assets 3,991,519 3,995,448
LIABILITIES AND EQUITY    
Mortgage notes payable, net 324,289 317,216
Unsecured term loan, net 248,595 248,429
Unsecured senior notes, net 1,365,909 1,365,183
Accounts payable and accrued expenses 106,790 107,074
Distributions payable 32,493 32,456
Deferred income, gains and rent 29,239 42,593
Acquired lease intangibles, net 18,573 20,274
Other liabilities 14,856 15,623
Total liabilities 2,140,744 2,148,848
Commitments and contingencies
Equity:    
Common Shares of Brandywine Realty Trust's beneficial interest, $0.01 par value; shares authorized 400,000,000; 178,604,473 and 178,285,236 issued and outstanding as of June 30, 2018 and December 31, 2017, respectively 1,787 1,784
Additional paid-in-capital 3,223,072 3,218,564
Deferred compensation payable in common shares 14,036 12,445
Common shares in grantor trust, 982,305 and 894,736 as of June 30, 2018 and December 31, 2017, respectively (14,036) (12,445)
Cumulative earnings 717,515 660,174
Accumulated other comprehensive income 9,221 2,399
Cumulative distributions (2,118,230) (2,053,741)
Total Brandywine Realty Trust's equity 1,833,365 1,829,180
Noncontrolling interests 17,410 17,420
Total beneficiaries' equity 1,850,775 1,846,600
Total liabilities and beneficiaries' equity 3,991,519 3,995,448
BRANDYWINE OPERATING PARTNERSHIP, L.P.    
Real estate investments:    
Operating properties 3,864,629 3,832,348
Accumulated depreciation (931,194) (895,091)
Operating real estate investments, net 2,933,435 2,937,257
Construction-in-progress 120,593 121,188
Land held for development 95,658 98,242
Prepaid leasehold interests in land held for development 40,177 0
Total real estate investments, net 3,189,863 3,156,687
Assets held for sale, net 4,254 392
Cash and cash equivalents 108,304 202,179
Accounts receivable, net of allowance of $3,850 and $3,467 as of June 30, 2018 and December 31, 2017, respectively 19,530 17,938
Accrued rent receivable, net of allowance of $13,403 and $13,645 as of June 30, 2018 and December 31, 2017, respectively 176,380 169,760
Investment in Real Estate Ventures, equity method 170,361 194,621
Deferred costs, net 96,184 96,695
Intangible assets, net 59,418 64,972
Other assets 167,225 92,204
Total assets 3,991,519 3,995,448
LIABILITIES AND EQUITY    
Mortgage notes payable, net 324,289 317,216
Unsecured term loan, net 248,595 248,429
Unsecured senior notes, net 1,365,909 1,365,183
Accounts payable and accrued expenses 106,790 107,074
Distributions payable 32,493 32,456
Deferred income, gains and rent 29,239 42,593
Acquired lease intangibles, net 18,573 20,274
Other liabilities 14,856 15,623
Total liabilities 2,140,744 2,148,848
Commitments and contingencies
Redeemable limited partnership units at redemption value; 1,479,799 issued and outstanding in as of September 30, 2017 and December 31, 2016 24,772 26,918
Equity:    
General Partnership Capital; 178,604,473 and 178,285,236 units issued and outstanding as of June 30, 2018 and December 31, 2017, respectively 1,814,870 1,815,411
Accumulated other comprehensive income 8,935 2,056
Total Brandywine Operating Partnership, L.P.'s equity 1,823,805 1,817,467
Non-controlling interest - consolidated real estate ventures 2,198 2,215
Total partners' equity 1,826,003 1,819,682
Total liabilities and beneficiaries' equity $ 3,991,519 $ 3,995,448
[1] As of June 30, 2018, the Company categorized 2.7 acres of land held for development, located in the Pennsylvania Suburbs segment, as held for sale in accordance with applicable accounting standards for long lived assets. As of December 31, 2017, the Company categorized 13.1 acres of land held for development, located in the Other segment, as held for sale in accordance with applicable accounting standards for long lived assets. As of June 30, 2018, this caption comprised leasehold interests in prepaid 99-year ground leases at 3025 and 3001-3003 JFK Boulevard, in Philadelphia, Pennsylvania. See Note 3, “Real Estate Investments,” for further information.
[2] As of June 30, 2018, this caption comprised leasehold interests in prepaid 99-year ground leases at 3025 and 3001-3003 JFK Boulevard, in Philadelphia, Pennsylvania. See Note 3, “Real Estate Investments,” for further information