XML 26 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenue      
Total revenue $ 544,345 $ 520,493 $ 525,463
Operating expenses:      
Property operating expenses 154,772 150,835 152,926
Real estate taxes 51,341 45,204 46,252
Third party management expenses 11,910 9,960 10,270
Depreciation and amortization 174,259 179,357 189,676
General and administrative expenses 27,802 28,538 26,596
Provision for impairment 71,707 3,057 40,517
Total operating expenses 491,791 416,951 466,237
Gain on sale of real estate      
Net gain on disposition of real estate 2,932 31,657 116,983
Net gain on sale of undepreciated real estate 3,040 953 9,232
Total gain on sale of real estate 5,972 32,610 126,215
Operating income 58,526 136,152 185,441
Other income (expense):      
Interest income 4,703 1,113 1,236
Interest expense (78,199) (81,886) (84,708)
Interest expense - amortization of deferred financing costs (2,498) (2,435) (2,696)
Interest expense - financing obligation 0 0 (679)
Equity in loss of Real Estate Ventures (15,231) (8,306) (11,503)
Net gain on real estate venture transactions 142,233 80,526 20,000
Gain on promoted interest in unconsolidated real estate venture 28,283 0 0
Loss on early extinguishment of debt (105) (3,933) (66,590)
Net income before income taxes 137,712 121,231 40,501
Income tax (provision) benefit (423) 628 0
Net income 137,289 121,859 40,501
Net income attributable to noncontrolling interests (965) (1,009) (310)
Net income attributable to Brandywine Realty Trust 136,324 120,850 40,191
Distribution to preferred shareholders 0 (2,032) (6,900)
Preferred share redemption charge 0 (3,181) 0
Nonforfeitable dividends allocated to unvested restricted shareholders (369) (327) (341)
Net income attributable to Common Shareholders of Brandywine Realty Trust $ 135,955 $ 115,310 $ 32,950
Basic income per Common Share $ 0.76 $ 0.66 $ 0.19
Diluted income per Common Share $ 0.76 $ 0.65 $ 0.19
Basic weighted average shares outstanding 178,519,748 175,484,350 175,018,163
Diluted weighted average shares outstanding 179,641,492 176,808,166 176,010,814
BRANDYWINE OPERATING PARTNERSHIP, L.P.      
Revenue      
Total revenue $ 544,345 $ 520,493 $ 525,463
Operating expenses:      
Property operating expenses 154,772 150,835 152,926
Real estate taxes 51,341 45,204 46,252
Third party management expenses 11,910 9,960 10,270
Depreciation and amortization 174,259 179,357 189,676
General and administrative expenses 27,802 28,538 26,596
Provision for impairment 71,707 3,057 40,517
Total operating expenses 491,791 416,951 466,237
Gain on sale of real estate      
Net gain on disposition of real estate 2,932 31,657 116,983
Net gain on sale of undepreciated real estate 3,040 953 9,232
Total gain on sale of real estate 5,972 32,610 126,215
Operating income 58,526 136,152 185,441
Other income (expense):      
Interest income 4,703 1,113 1,236
Interest expense (78,199) (81,886) (84,708)
Interest expense - amortization of deferred financing costs (2,498) (2,435) (2,696)
Interest expense - financing obligation 0 0 (679)
Equity in loss of Real Estate Ventures (15,231) (8,306) (11,503)
Net gain on real estate venture transactions 142,233 80,526 20,000
Gain on promoted interest in unconsolidated real estate venture 28,283 0 0
Loss on early extinguishment of debt (105) (3,933) (66,590)
Net income before income taxes 137,712 121,231 40,501
Income tax (provision) benefit (423) 628 0
Net income 137,289 121,859 40,501
Net income attributable to noncontrolling interests - consolidated real estate ventures (55) (29) (15)
Distribution to preferred shareholders 0 (2,032) (6,900)
Preferred share redemption charge 0 (3,181) 0
Nonforfeitable dividends allocated to unvested restricted shareholders (369) (327) (341)
Net income attributable to Common Shareholders of Brandywine Realty Trust 136,865 116,290 33,245
Net income attributable to Brandywine Operating Partnership 137,234 121,830 40,486
Distribution to preferred unitholders 0 (2,032) (6,900)
Preferred unit redemption charge 0 (3,181) 0
Nonforfeitable dividends allocated to unvested restricted unitholders $ (369) $ (327) $ (341)
Basic income per Common Share $ 0.76 $ 0.66 $ 0.19
Diluted income per Common Share $ 0.76 $ 0.65 $ 0.19
Basic weighted average shares outstanding 179,959,370 176,964,149 176,523,800
Diluted weighted average shares outstanding 181,081,114 178,287,965 177,516,451
Rents [Member]      
Revenue      
Lease revenue $ 430,656 $ 412,333 $ 421,505
Rents [Member] | BRANDYWINE OPERATING PARTNERSHIP, L.P.      
Revenue      
Lease revenue 430,656 412,333 421,505
Tenant Reimbursements [Member]      
Revenue      
Service and other revenue 82,625 72,620 70,629
Tenant Reimbursements [Member] | BRANDYWINE OPERATING PARTNERSHIP, L.P.      
Revenue      
Service and other revenue 82,625 72,620 70,629
Termination Fees [Member]      
Revenue      
Lease revenue 1,763 2,370 2,339
Termination Fees [Member] | BRANDYWINE OPERATING PARTNERSHIP, L.P.      
Revenue      
Lease revenue 1,763 2,370 2,339
Third Party Management Fees, Labor Reimbursement and Leasing [Member]      
Revenue      
Service and other revenue 22,557 28,345 26,674
Third Party Management Fees, Labor Reimbursement and Leasing [Member] | BRANDYWINE OPERATING PARTNERSHIP, L.P.      
Revenue      
Service and other revenue 22,557 28,345 26,674
Other [Member]      
Revenue      
Service and other revenue 6,744 4,825 4,316
Other [Member] | BRANDYWINE OPERATING PARTNERSHIP, L.P.      
Revenue      
Service and other revenue $ 6,744 $ 4,825 $ 4,316