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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Operating Leases, Income Statement, Minimum Lease Revenue $ 56,372 $ 56,874 $ 167,714 $ 171,078
Recovery of Direct Costs $ 26,833 $ 26,900 $ 80,194 $ 81,981
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount 38,000 0 272,000 51,000
Real estate revenue:        
Base rent $ 86,389 $ 86,719 $ 262,904 $ 263,553
Percentage rent 646 593 902 1,223
Lease termination revenue 45 7 7,166 2,279
Other Revenue (Expense) from Real Estate Operations 2,493 2,345 6,928 6,992
Other Nonoperating Income 1,714 2,492 3,454 4,172
Total revenue 88,103 89,211 266,358 267,725
Property operating expenses:        
CAM and real estate taxes (27,826) (25,772) (84,569) (83,985)
Utilities (4,430) (4,444) (12,143) (12,407)
Other property operating expenses (2,444) (3,087) (8,752) (9,117)
Cost of Revenue 34,700 33,303 105,464 105,509
Depreciation and amortization (33,119) (29,966) (100,505) (94,652)
General and administrative expenses (8,441) (8,288) (27,969) (26,561)
Provision For Employee Separation Expenses 561 0 956 1,053
Project costs and other expenses (214) (150) (465) (547)
Operating Expenses 77,035 71,707 235,359 228,322
Interest expense, net (15,181) (14,342) (46,064) (44,098)
Asset Impairment Charges 0 1,825 34,286 55,742
Costs and Expenses 92,216 87,874 315,709 328,162
(Loss) income before equity in income of partnerships, gain on sale of real estate by equity method investee, gains (adjustment to gains) on sales of interests in non operating real estate and gains (losses) on sales of interests in real estate, net (4,113) 1,337 (49,351) (60,437)
Equity in income of partnerships 2,477 4,254 8,186 12,144
Equity Method Investment, Realized Gain (Loss) on Disposal 0 6,718 2,773 6,718
Gain on sale of non operating real estate 0 0 (25) 486
Gains (Losses) on Sales of Investment Real Estate 0 (9) 748 (374)
Net (loss) income (1,636) 12,300 (37,669) (41,463)
Less: net loss (income) attributable to noncontrolling interest 891 (507) 6,122 6,627
Net (loss) income attributable to PREIT (745) 11,793 (31,547) (34,836)
Less: preferred share dividends (6,843) (7,525) (20,531) (20,797)
Net (loss) income attributable to PREIT common shareholders (7,588) 4,268 (52,078) (55,633)
Net (loss) income (1,636) 12,300 (37,669) (41,463)
Noncontrolling interest 891 (507) 6,122 6,627
Dividends on unvested restricted shares (136) (87) (412) (272)
Income (Loss) from Continuing Operations Attributable to Parent $ (7,724) $ 4,181 $ (52,490) $ (55,905)
Basic and diluted (loss) earnings per share: $ (0.11) $ 0.06 $ (0.75) $ (0.81)
Weighted average shares outstanding—basic 69,803,000 69,424,000 69,718,000 69,319,000
Effect Of Common Share Equivalents 0 0 0 0
Weighted average shares outstanding—diluted 69,803,000 69,424,000 69,718,000 69,319,000