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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenue        
Total revenue $ 125,882 $ 124,042 $ 255,109 $ 251,547
Operating expenses        
Property operating expenses 31,891 33,111 65,485 64,659
Real estate taxes 11,571 13,746 26,173 27,559
Third party management expenses 2,557 2,792 5,196 5,349
Depreciation and amortization 47,079 43,959 92,679 87,741
General and administrative expenses 9,360 8,328 18,842 18,328
Provision for impairment 4,468 0 4,468 0
Total operating expenses 106,926 101,936 212,843 203,636
Gain on sale of real estate        
Net gain on disposition of real estate 0 144 0 144
Net gain on sale of undepreciated real estate 0 4,127 781 5,024
Total gain on sale of real estate 0 4,271 781 5,168
Operating income 18,956 26,377 43,047 53,079
Other income (expense):        
Investment income 520 449 1,025 889
Interest expense (23,669) (16,341) (46,322) (32,083)
Interest expense - amortization of deferred financing costs (1,114) (805) (2,141) (1,514)
Equity in loss of unconsolidated real estate ventures (7,598) (4,981) (13,765) (9,544)
Net gain on real estate venture transactions 181 0 181 0
Net income (loss) before income taxes (12,724) 4,699 (17,975) 10,827
Income tax provision (13) (48) (38) (75)
Net income (loss) (12,737) 4,651 (18,013) 10,752
Net (income) loss attributable to noncontrolling interests 41 (14) 58 (22)
Net income (loss) attributable to Brandywine Realty Trust (12,696) 4,637 (17,955) 10,730
Nonforfeitable dividends allocated to unvested restricted shareholders (204) (98) (274) (246)
Net income (loss) attributable to Common Shareholders of Brandywine Realty Trust $ (12,900) $ 4,539 $ (18,229) $ 10,484
Basic income (loss) per Common Share (in dollars per share) $ (0.08) $ 0.03 $ (0.11) $ 0.06
Diluted income (loss) per Common Share (in dollars per share) $ (0.08) $ 0.03 $ (0.11) $ 0.06
Basic weighted average shares outstanding (in shares) 171,962,162 171,527,031 171,818,463 171,411,631
Diluted weighted average shares outstanding (in shares) 171,962,162 172,260,429 171,818,463 172,575,408
Rents        
Revenue        
Total revenue $ 118,133 $ 116,897 $ 238,981 $ 232,798
Third party management fees, labor reimbursement and leasing        
Revenue        
Total revenue 6,227 5,924 12,229 11,032
Other        
Revenue        
Total revenue $ 1,522 $ 1,221 $ 3,899 $ 7,717