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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Real estate revenue:    
Lease revenue $ 271,751 $ 270,065
Expense reimbursements 17,856 16,514
Other real estate revenue 5,719 9,290
Total real estate revenue 295,326 295,869
Other income 702 561
Total revenue 296,028 296,430
Property operating expenses:    
CAM and real estate taxes (107,026) (105,933)
Utilities (14,819) (12,473)
Other property operating expenses (9,469) (9,176)
Total property operating expenses (131,314) (127,582)
Depreciation and amortization (113,083) (117,986)
General and administrative expenses (43,760) (49,570)
Other (expenses) income (451) 55
Total operating expenses (288,608) (295,083)
Interest expense, net (141,760) (128,031)
Gain on debt extinguishment, net 0 4,587
Impairment of assets (44,101) (9,938)
Reorganization expenses 0 (267)
Total expenses (474,469) (428,732)
Equity in loss of partnerships (6,145) (3,732)
Gain (loss) on sales of interests in real estate 10,829 (1,180)
Gain (loss) on sale of equity method investment 8,976 0
Gain (loss) on sales of real estate by equity method investee 0 1,337
Gain on sales of non operating real estate 10,527 10
Gain on sale of preferred equity interest 3,688 0
Net loss (150,566) (135,867)
Less: net loss attributed to noncontrolling interest 2,248 3,130
Net loss attributable to PREIT (148,318) (132,737)
Less: preferred share dividends (27,375) (27,375)
Net loss attributable to PREIT common shareholders $ (175,693) $ (160,112)
Basic loss per share: $ (33.06) $ (30.56)
Diluted loss per share: $ (33.06) $ (30.56)
Weighted average shares outstanding-basic (in shares) 5,314 5,240
Effect of common share equivalents (in shares) [1] 0 0
Weighted average shares outstanding-diluted (in shares) 5,314 5,240
[1] The Company had net losses used to calculate earnings per share for the years ended December 31, 2022 and 2021. Therefore, the effects of common share equivalents are excluded from the calculation of diluted loss per share for these periods because they would be anti-dilutive.