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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenue        
Total revenue $ 133,786 $ 127,791 $ 270,144 $ 258,711
Operating expenses        
Property operating expenses 37,887 37,215 77,219 74,100
Real estate taxes 12,417 11,078 24,839 22,827
Third party management expenses 2,243 2,325 6,993 4,772
Depreciation and amortization 43,717 44,263 87,008 90,155
General and administrative expenses 7,523 6,659 16,246 15,984
Provision for impairment 0 327 0 3,057
Total operating expenses 103,787 101,867 212,305 210,895
Operating income 29,999 25,924 57,839 47,816
Other income (expense)        
Interest income 641 163 1,344 556
Interest expense (19,301) (20,304) (38,834) (41,741)
Interest expense - amortization of deferred financing costs (627) (596) (1,254) (1,230)
Equity in income (loss) of Real Estate Ventures (358) 1,084 (1,183) 336
Net gain (loss) on disposition of real estate (35) 1,088 (35) 8,411
Net gain on sale of undepreciated real estate 2,837 0 2,859 0
Net gain on Real Estate Venture transactions 0 0 37,263 14,582
Net income before income taxes 13,156 7,359 57,999 28,730
Income tax (provision) benefit (20) 339 (158) 239
Net income 13,136 7,698 57,841 28,969
Net income attributable to noncontrolling interests (130) (45) (506) (214)
Net income attributable to Brandywine Realty Trust 13,006 7,653 57,335 28,755
Distribution to preferred shareholders 0 (307) 0 (2,032)
Preferred share redemption charge 0 (3,181) 0 (3,181)
Nonforfeitable dividends allocated to unvested restricted shareholders (86) (73) (200) (172)
Net income attributable to Common Shareholders of Brandywine Realty Trust $ 12,920 $ 4,092 $ 57,135 $ 23,370
Basic income per Common Share $ 0.07 $ 0.02 $ 0.32 $ 0.13
Diluted income per Common Share $ 0.07 $ 0.02 $ 0.32 $ 0.13
Basic weighted average shares outstanding 178,547,555 175,333,300 178,471,960 175,255,564
Diluted weighted average shares outstanding 179,692,336 176,756,598 179,740,690 176,480,380
Distributions declared per Common Share $ 0.18 $ 0.16 $ 0.36 $ 0.32
BRANDYWINE OPERATING PARTNERSHIP, L.P.        
Revenue        
Total revenue $ 133,786 $ 127,791 $ 270,144 $ 258,711
Operating expenses        
Property operating expenses 37,887 37,215 77,219 74,100
Real estate taxes 12,417 11,078 24,839 22,827
Third party management expenses 2,243 2,325 6,993 4,772
Depreciation and amortization 43,717 44,263 87,008 90,155
General and administrative expenses 7,523 6,659 16,246 15,984
Provision for impairment 0 327 0 3,057
Total operating expenses 103,787 101,867 212,305 210,895
Operating income 29,999 25,924 57,839 47,816
Other income (expense)        
Interest income 641 163 1,344 556
Interest expense (19,301) (20,304) (38,834) (41,741)
Interest expense - amortization of deferred financing costs (627) (596) (1,254) (1,230)
Equity in income (loss) of Real Estate Ventures (358) 1,084 (1,183) 336
Net gain (loss) on disposition of real estate (35) 1,088 (35) 8,411
Net gain on sale of undepreciated real estate 2,837 0 2,859 0
Net gain on Real Estate Venture transactions 0 0 37,263 14,582
Net income before income taxes 13,156 7,359 57,999 28,730
Income tax (provision) benefit (20) 339 (158) 239
Net income 13,136 7,698 57,841 28,969
Net income attributable to non-controlling interests - consolidated real estate ventures (21) (8) (26) (13)
Net income attributable to Brandywine Realty Trust 13,115 7,690 57,815 28,956
Distribution to preferred shareholders 0 (307) 0 (2,032)
Preferred share redemption charge 0 (3,181) 0 (3,181)
Nonforfeitable dividends allocated to unvested restricted shareholders (86) (73) (200) (172)
Net income attributable to Common Shareholders of Brandywine Realty Trust $ 13,029 $ 4,129 $ 57,615 $ 23,571
Basic income per Common Share $ 0.07 $ 0.02 $ 0.32 $ 0.13
Diluted income per Common Share $ 0.07 $ 0.02 $ 0.32 $ 0.13
Basic weighted average shares outstanding 180,027,354 176,813,099 179,951,759 176,735,363
Diluted weighted average shares outstanding 181,172,135 178,236,397 181,220,489 177,960,179
Distributions declared per Common Share $ 0.18 $ 0.16 $ 0.36 $ 0.32
Rents [Member]        
Revenue        
Lease revenue $ 107,657 $ 101,557 $ 214,017 $ 204,889
Rents [Member] | BRANDYWINE OPERATING PARTNERSHIP, L.P.        
Revenue        
Lease revenue 107,657 101,557 214,017 204,889
Tenant Reimbursements [Member]        
Revenue        
Service and other revenue 18,688 18,038 38,537 36,573
Tenant Reimbursements [Member] | BRANDYWINE OPERATING PARTNERSHIP, L.P.        
Revenue        
Service and other revenue 18,688 18,038 38,537 36,573
Termination Fees [Member]        
Revenue        
Lease revenue 582 140 1,132 1,813
Termination Fees [Member] | BRANDYWINE OPERATING PARTNERSHIP, L.P.        
Revenue        
Lease revenue 582 140 1,132 1,813
Third Party Management Fees, Labor Reimbursement and Leasing [Member]        
Revenue        
Service and other revenue 4,913 7,080 12,587 13,565
Third Party Management Fees, Labor Reimbursement and Leasing [Member] | BRANDYWINE OPERATING PARTNERSHIP, L.P.        
Revenue        
Service and other revenue 4,913 7,080 12,587 13,565
Other [Member]        
Revenue        
Service and other revenue 1,946 976 3,871 1,871
Other [Member] | BRANDYWINE OPERATING PARTNERSHIP, L.P.        
Revenue        
Service and other revenue $ 1,946 $ 976 $ 3,871 $ 1,871