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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenue        
Total revenue $ 125,346 $ 125,882 $ 251,830 $ 255,109
Operating expenses        
Property operating expenses 31,353 31,891 63,632 65,485
Real estate taxes 12,535 11,571 25,127 26,173
Third party management expenses 2,426 2,557 4,969 5,196
Depreciation and amortization 44,187 47,079 89,229 92,679
General and administrative expenses 8,941 9,360 20,045 18,842
Provision for impairment 6,427 4,468 6,427 4,468
Total operating expenses 105,869 106,926 209,429 212,843
Gain on sale of real estate        
Net gain on disposition of real estate 0 0 0 0
Net gain on sale of undepreciated real estate 0 0 0 781
Total gain on sale of real estate 0 0 0 781
Operating income 19,477 18,956 42,401 43,047
Other income (expense):        
Interest and investment income 1,512 520 1,933 1,025
Interest expense (29,494) (23,669) (54,543) (46,322)
Interest expense - amortization of deferred financing costs (1,415) (1,114) (2,506) (2,141)
Equity in loss of unconsolidated real estate ventures (14,507) (7,598) (28,095) (13,765)
Net gain on real estate venture transactions 53,762 181 53,733 181
Gain on early extinguishment of debt 941 0 941 0
Net income (loss) before income taxes 30,276 (12,724) 13,864 (17,975)
Income tax provision (9) (13) (11) (38)
Net income (loss) 30,267 (12,737) 13,853 (18,013)
Net (income) loss attributable to noncontrolling interests (94) 41 (48) 58
Net income (loss) attributable to Brandywine Realty Trust 30,173 (12,696) 13,805 (17,955)
Nonforfeitable dividends allocated to unvested restricted shareholders (277) (204) (613) (274)
Net income (loss) attributable to Common Shareholders of Brandywine Realty Trust $ 29,896 $ (12,900) $ 13,192 $ (18,229)
Basic income (loss) per Common Share (in dollars per share) $ 0.17 $ (0.08) $ 0.08 $ (0.11)
Diluted income (loss) per Common Share (in dollars per share) $ 0.17 $ (0.08) $ 0.08 $ (0.11)
Basic weighted average shares outstanding (in shares) 172,563,136 171,962,162 172,385,087 171,818,463
Diluted weighted average shares outstanding (in shares) 174,695,651 171,962,162 174,342,151 171,818,463
Rents        
Revenue        
Total revenue $ 118,009 $ 118,133 $ 237,017 $ 238,981
Third party management fees, labor reimbursement and leasing        
Revenue        
Total revenue 5,698 6,227 11,592 12,229
Other        
Revenue        
Total revenue $ 1,639 $ 1,522 $ 3,221 $ 3,899