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COMBINED FINANCIAL INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2023
COMBINED FINANCIAL INFORMATION  
Schedule of Balance Sheet
Balance SheetAs at December 31, 2023
Granite REITGranite GPEliminations/
Adjustments		Granite REIT and Granite GP Combined
ASSETS
Non-current assets:
Investment properties$8,808,139 — — $8,808,139 
Investment in Granite LP(1)
— 41 (41)— 
Other non-current assets106,540 — — 106,540 
8,914,679 41 (41)8,914,679 
Current assets:
Other current assets35,564 — — 35,564 
Intercompany receivable(2)
— 18,998 (18,998)— 
Cash and cash equivalents115,838 296 — 116,134 
Total assets$9,066,081 19,335 (19,039)$9,066,377 
LIABILITIES AND EQUITY
Non-current liabilities:
Unsecured debt, net$2,821,849 — — $2,821,849 
Other non-current liabilities576,396 — — 576,396 
3,398,245 — — 3,398,245 
Current liabilities:
Unsecured debt, net244,133 — — 244,133 
Intercompany payable(2)
18,998 — (18,998)— 
Other current liabilities121,064 19,294 — 140,358 
Total liabilities3,782,440 19,294 (18,998)3,782,736 
Equity:
Stapled unitholders’ equity5,276,910 41 — 5,276,951 
Non-controlling interests6,731 — (41)6,690 
Total liabilities and equity$9,066,081 19,335 (19,039)$9,066,377 
(1)    Granite REIT Holdings Limited Partnership ("Granite LP") is 100% owned by Granite REIT and Granite GP.
(2)    Represents employee and trustee/director compensation related amounts which will be reimbursed by Granite LP.
Balance Sheet
As at December 31, 2022
Granite REITGranite GPEliminations/
Adjustments		Granite REIT and Granite GP Combined
ASSETS
Non-current assets:
Investment properties$8,839,571 — — $8,839,571 
Investment in Granite LP(1)
— 40 (40)— 
Other non-current assets167,189 — — 167,189 
9,006,760 40 (40)9,006,760 
Current assets:
Assets held for sale41,182 — — 41,182 
Other current assets97,310 21 — 97,331 
Intercompany receivable(2)
— 15,594 (15,594)— 
Cash and cash equivalents135,020 61 — 135,081 
Total assets$9,280,272 15,716 (15,634)$9,280,354 
LIABILITIES AND EQUITY
Non-current liabilities:
Unsecured debt, net$2,583,930 — — $2,583,930 
Other non-current liabilities596,759 — — 596,759 
3,180,689 — — 3,180,689 
Current liabilities:
Unsecured debt, net399,707 — — 399,707 
Intercompany payable(2)
15,594 — (15,594)— 
Other current liabilities203,935 15,676 — 219,611 
Total liabilities3,799,925 15,676 (15,594)3,800,007 
Equity:
Stapled unitholders’ equity5,475,335 40 — 5,475,375 
Non-controlling interests5,012 — (40)4,972 
Total liabilities and equity$9,280,272 15,716 (15,634)$9,280,354 
(1)    Granite LP is 100% owned by Granite REIT and Granite GP.
(2)    Represents employee and trustee/director compensation related amounts which will be reimbursed by Granite LP.
Schedule of Income Statement
Income Statement
Year Ended December 31, 2023
Granite REITGranite GPEliminations/
Adjustments		Granite REIT and Granite GP Combined
Revenue$521,250 — — $521,250 
General and administrative expenses41,440 — — 41,440 
Interest expense and other financing costs78,717 — — 78,717 
Other costs and expenses, net80,609 — — 80,609 
Share of (income) loss of Granite LP
— (1)1 — 
Fair value losses on investment properties, net
172,676 — — 172,676 
Fair value losses on financial instruments, net
17,296 — — 17,296 
Loss on sale of investment properties
1,505 — — 1,505 
Income before income taxes
129,007 1 (1)129,007 
Income tax recovery
(9,489)— — (9,489)
Net income
138,496 1 (1)138,496 
Less net income attributable to non-controlling interests
1,835 — (1)1,834 
Net income attributable to stapled unitholders
$136,661 1 — $136,662 
Income Statement
Year Ended December 31, 2022
Granite REITGranite GPEliminations/
Adjustments		Granite REIT and Granite GP Combined
Revenue$455,579 — — $455,579 
General and administrative expenses29,465 — — 29,465 
Interest expense and other financing costs50,967 — — 50,967 
Other costs and expenses, net73,979 — — 73,979 
Share of (income) loss of Granite LP
— (2)2 — 
Fair value losses on investment properties, net
219,728 — — 219,728 
Fair value gains on financial instruments, net
(11,383)— — (11,383)
Loss on sale of investment properties
666 — — 666 
Income before income taxes
92,157 2 (2)92,157 
Income tax recovery
(63,665)— — (63,665)
Net income
155,822 2 (2)155,822 
Less net income attributable to non-controlling interests
56 — (2)54 
Net income attributable to stapled unitholders
$155,766 2 — $155,768 
Schedule of Statement of Cash Flows
Statement of Cash Flows
Year Ended December 31, 2023
Granite REITGranite GPEliminations/
Adjustments		Granite REIT and Granite GP Combined
OPERATING ACTIVITIES
Net income$138,496 1 (1)$138,496 
Items not involving operating cash flows177,001 (1)1 177,001 
Changes in working capital balances(4,899)236 — (4,663)
Other operating activities2,347 — — 2,347 
Cash provided by operating activities
312,945 236 — 313,181 
INVESTING ACTIVITIES
Acquisitions, deposits and transactions costs, net(102,761)— — (102,761)
Proceeds from disposals, net43,773 — — 43,773 
Additions to income-producing properties
(59,825)— — (59,825)
Additions to properties under development
(71,132)— — (71,132)
Construction funds released from escrow4,819 — — 4,819 
Other investing activities56,999 — — 56,999 
Cash used in investing activities
(128,127)— — (128,127)
FINANCING ACTIVITIES
Distributions paid(203,910)— — (203,910)
Other financing activities800 — — 800 
Cash used in financing activities
(203,110)— — (203,110)
Effect of exchange rate changes(891)— — (891)
Net (decrease) increase in cash and cash equivalents during the year
$(19,183)236 — $(18,947)
Statement of Cash Flows
Year Ended December 31, 2022
Granite REITGranite GPEliminations/
Adjustments		Granite REIT and Granite GP Combined
OPERATING ACTIVITIES
Net income$155,822 2 (2)$155,822 
Items not involving operating cash flows135,088 (2)2 135,088 
Changes in working capital balances292 (394)— (102)
Other operating activities(13,312)— — (13,312)
Cash provided by (used in) operating activities
277,890 (394)— 277,496 
INVESTING ACTIVITIES
Acquisitions, deposits and transactions costs, net(492,717)— — (492,717)
Proceeds from disposals, net63,943 — — 63,943 
Additions to income-producing properties
(54,933)— — (54,933)
Additions to properties under development
(212,245)— — (212,245)
Construction funds in escrow(4,720)— — (4,720)
Other investing activities(65,884)— — (65,884)
Cash used in investing activities
(766,556)— — (766,556)
FINANCING ACTIVITIES
Distributions paid(202,284)— — (202,284)
Other financing activities416,843 — — 416,843 
Cash provided by financing activities
214,559 — — 214,559 
Effect of exchange rate changes7,069 — — 7,069 
Net decrease in cash and cash equivalents during the year
$(267,038)(394)— $(267,432)