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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Real estate revenue:        
Lease revenue $ 58,473 $ 73,310 $ 178,313 $ 223,668
Expense reimbursements 4,040 5,364 11,321 15,342
Other real estate revenue 1,336 2,202 4,803 7,619
Total real estate revenue 63,849 80,876 194,437 246,629
Other income 340 498 764 1,440
Total revenue 64,189 81,374 195,201 248,069
Property operating expenses:        
CAM and real estate taxes (27,688) (28,320) (80,418) (85,891)
Utilities (3,530) (4,009) (8,971) (11,350)
Other property operating expenses (1,827) (1,836) (5,699) (5,815)
Total property operating expenses (33,045) (34,165) (95,088) (103,056)
Depreciation and amortization (34,420) (31,236) (95,597) (98,085)
General and administrative expenses (9,526) (10,605) (30,790) (33,419)
Provision for employee separation expenses (60) (218) (1,173) (1,078)
Insurance recoveries, net 0 2,878 586 4,494
Project costs and other expenses (124) (80) (287) (267)
Total operating expenses (77,175) (73,426) (222,349) (231,411)
Interest expense, net (20,260) (15,534) (54,300) (46,986)
Gain on debt extinguishment, net 0 29,600 0 24,832
Gain on derecognition of property 7,006 0 7,006 0
Impairment of development land parcel 0 0 0 (1,464)
Total expenses (90,429) (59,360) (269,643) (255,029)
(Loss) income before equity in (loss) income of partnerships, gain on sales of real estate by equity method investee, (loss) gain on sales of real estate, net, and gain (loss) on sales of interests in non operating real estate (26,240) 22,014 (74,442) (6,960)
Equity in (loss) income of partnerships (3,259) 1,531 (2,798) 6,136
Gain on sales of real estate by equity method investee 0 0 0 553
(Loss) gain on sales of real estate, net (94) 1,171 11,169 2,684
Gain (loss) on sales of interests in non operating real estate 16 0 (174) 0
Net (loss) income (29,577) 24,716 (66,245) 2,413
Less: net loss (income) attributable to noncontrolling interest 734 (454) 1,996 1,563
Net (loss) income attributable to PREIT (28,843) 24,262 (64,249) 3,976
Less: preferred share dividends (6,843) (6,843) (20,531) (20,531)
Net (loss) income attributable to PREIT common shareholders (35,686) 17,419 (84,780) (16,555)
Net (loss) income (29,577) 24,716 (66,245) 2,413
Noncontrolling interest 734 (454) 1,996 1,563
Cumulative preferred share dividends (6,843) (6,843) (20,531) (20,531)
Dividends on unvested restricted shares 0 (222) (363) (663)
Net (loss) income used to calculate (loss) income per share—basic and diluted $ (35,686) $ 17,197 $ (85,143) $ (17,218)
Basic and diluted (loss) income per share: $ (0.46) $ 0.22 $ (1.10) $ (0.23)
Weighted average shares outstanding—basic (in shares) 77,401 76,492 77,149 74,771
Effect of common share equivalents (in shares) [1] 0 332 0 0
Weighted average shares outstanding—diluted (in shares) 77,401 76,824 77,149 74,771
[1] The Company had net losses used to calculate earnings per share for the three months ended September 30, 2020 and the nine months ended September 30, 2020 and 2019.  Therefore, the effects of common share equivalents of 357 for the three months ended September 30, 2020 and, 411 and 375 for the nine months ended September 30, 2020 and 2019, respectively, are excluded from the calculation of diluted loss per share for these periods because they would be antidilutive.