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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenue        
Revenue $ 120,418 $ 126,106 $ 361,289 $ 408,031
Operating expenses        
Property operating expenses 30,304 31,567 88,503 102,320
Real estate taxes 13,421 14,923 42,784 48,525
Third party management expenses 3,327 2,509 9,866 7,546
Depreciation and amortization 48,175 43,533 131,303 145,314
General and administrative expenses 7,076 7,069 22,016 23,973
Total operating expenses 102,303 99,601 294,472 327,678
Gain on sale of real estate        
Net gain on disposition of real estate 0 271,901 142 274,487
Net gain on sale of undepreciated real estate 910 0 2,903 201
Total gain on sale of real estate 910 271,901 3,045 274,688
Operating income 19,025 298,406 69,862 355,041
Other income (expense):        
Interest and investment income 4,494 467 7,845 1,487
Interest expense (15,190) (16,310) (46,973) (56,510)
Interest expense - amortization of deferred financing costs (709) (715) (2,127) (2,195)
Equity in loss of unconsolidated real estate ventures (6,634) (5,788) (20,798) (9,882)
Net gain on real estate venture transactions 0 75 0 75
Net income before income taxes 986 276,135 7,809 288,016
Income tax (provision) benefit (12) (2) (46) 224
Net income 974 276,133 7,763 288,240
Net income attributable to noncontrolling interests (7) (1,612) (42) (1,701)
Net income attributable to Brandywine Realty Trust 967 274,521 7,721 286,539
Nonforfeitable dividends allocated to unvested restricted shareholders (91) (93) (331) (317)
Net income attributable to Common Shareholders of Brandywine Realty Trust $ 876 $ 274,428 $ 7,390 $ 286,222
Basic income per Common Share (in dollars per share) $ 0.01 $ 1.61 $ 0.04 $ 1.66
Diluted income per Common Share (in dollars per share) $ 0.01 $ 1.60 $ 0.04 $ 1.66
Basic weighted average shares outstanding (in shares) 170,907,018 170,573,028 170,794,585 172,380,410
Diluted weighted average shares outstanding (in shares) 172,237,194 171,026,492 172,077,950 172,735,436
BRANDYWINE OPERATING PARTNERSHIP, L.P.        
Revenue        
Revenue $ 120,418 $ 126,106 $ 361,289 $ 408,031
Operating expenses        
Property operating expenses 30,304 31,567 88,503 102,320
Real estate taxes 13,421 14,923 42,784 48,525
Third party management expenses 3,327 2,509 9,866 7,546
Depreciation and amortization 48,175 43,533 131,303 145,314
General and administrative expenses 7,076 7,069 22,016 23,973
Total operating expenses 102,303 99,601 294,472 327,678
Gain on sale of real estate        
Net gain on disposition of real estate 0 271,901 142 274,487
Net gain on sale of undepreciated real estate 910 0 2,903 201
Total gain on sale of real estate 910 271,901 3,045 274,688
Operating income 19,025 298,406 69,862 355,041
Other income (expense):        
Interest and investment income 4,494 467 7,845 1,487
Interest expense (15,190) (16,310) (46,973) (56,510)
Interest expense - amortization of deferred financing costs (709) (715) (2,127) (2,195)
Equity in loss of unconsolidated real estate ventures (6,634) (5,788) (20,798) (9,882)
Net gain on real estate venture transactions 0 75 0 75
Net income before income taxes 986 276,135 7,809 288,016
Income tax (provision) benefit (12) (2) (46) 224
Net income 974 276,133 7,763 288,240
Net (income) loss attributable to noncontrolling interests - consolidated real estate ventures 2 2 4 (20)
Net income attributable to Brandywine Operating Partnership 976 276,135 7,767 288,220
Nonforfeitable dividends allocated to unvested restricted shareholders (91) (93) (331) (317)
Net income attributable to Common Shareholders of Brandywine Realty Trust $ 885 $ 276,042 $ 7,436 $ 287,903
Basic income per Common Share (in dollars per share) $ 0.01 $ 1.61 $ 0.04 $ 1.66
Diluted income per Common Share (in dollars per share) $ 0.01 $ 1.60 $ 0.04 $ 1.66
Basic weighted average shares outstanding (in shares) 171,731,001 171,554,662 171,710,387 173,362,044
Diluted weighted average shares outstanding (in shares) 173,061,177 172,008,126 172,993,752 173,717,070
Rents        
Revenue        
Revenue $ 112,159 $ 121,277 $ 336,878 $ 392,661
Rents | BRANDYWINE OPERATING PARTNERSHIP, L.P.        
Revenue        
Revenue 112,159 121,277 336,878 392,661
Third party management fees, labor reimbursement and leasing        
Revenue        
Revenue 6,500 4,324 19,778 13,339
Third party management fees, labor reimbursement and leasing | BRANDYWINE OPERATING PARTNERSHIP, L.P.        
Revenue        
Revenue 6,500 4,324 19,778 13,339
Other        
Revenue        
Revenue 1,759 505 4,633 2,031
Other | BRANDYWINE OPERATING PARTNERSHIP, L.P.        
Revenue        
Revenue $ 1,759 $ 505 $ 4,633 $ 2,031