As Reported Financial Statements

As Reported Financials

Source Document Currency Code (in thousands) 2014 Y 12/31/2015 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 6/30/2018 USD 2018 Q2 YTD 6/30/2018 USD
Source Document Currency Code 2014 Y 12/31/2015 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 6/30/2018 USD 2018 Q2 YTD 6/30/2018 USD

ASSETS

Real estate investments

Operating properties 4,603,692 3,693,000 3,586,295 3,832,348 3,864,629
Accumulated depreciation (1,067,829) (867,035) (852,476) (895,091) (931,194)
Operating real estate investments, net 3,535,863 2,825,965 2,733,819 2,937,257 2,933,435
Construction-in-progress 201,360 268,983 297,462 121,188 120,593
Land held for development 90,603 130,479 150,970 98,242 95,658
Prepaid leasehold interests in land held for development NA NA NA 0 40,177
Total real estate investments, net 3,827,826 3,225,427 3,182,251 3,156,687 3,189,863
Assets held for sale, net 18,295 584,365 41,718 392 4,254
Cash and cash equivalents 257,502 56,694 193,919 202,179 108,304
Accounts receivable, net of allowance 18,757 17,126 12,446 17,938 19,530
Accrued rent receivable, net of allowance 134,051 145,092 149,624 169,760 176,380
Investment in Real Estate Ventures, equity method 225,004 241,004 281,331 194,621 170,361
Deferred costs, net 101,261 101,419 91,342 96,695 96,184
Intangible assets, net 99,403 111,623 72,478 64,972 59,418
Mortgage note receivable 88,000 NA NA NA NA
Other assets 65,111 71,761 74,104 92,204 167,225
Total assets 4,835,210 4,554,511 4,099,213 3,995,448 3,991,519

LIABILITIES AND BENEFICIARIES' EQUITY

Mortgage notes payable, net 639,631 545,753 321,549 317,216 324,289
Unsecured term loan, net 198,923 247,800 248,099 248,429 248,595
Unsecured senior notes, net 1,588,791 1,591,164 1,443,464 1,365,183 1,365,909
Accounts payable and accrued expenses 96,046 99,856 103,404 107,074 106,790
Distributions payable 28,871 28,249 30,032 32,456 32,493
Deferred income, gains and rent 59,452 30,413 31,620 42,593 29,239
Acquired lease intangibles, net 26,010 25,655 18,119 20,274 18,573
Liabilities related to assets held for sale 602 2,151 81 NA NA
Other liabilities 37,558 31,379 19,408 15,623 14,856
Total liabilities 2,675,884 2,602,420 2,215,776 2,148,848 2,140,744

Brandywine Realty Trust's Equity

Preferred Shares 40 40 40 NA NA
Common Shares of Brandywine Realty Trust's beneficial interest 1,793 1,747 1,752 1,784 1,787
Additional paid-in-capital 3,314,693 3,252,622 3,258,870 3,218,564 3,223,072
Deferred compensation payable in common shares 6,219 11,918 13,684 12,445 14,036
Common shares in grantor trust (6,219) (11,918) (13,684) (12,445) (14,036)
Cumulative earnings 529,487 499,086 539,319 660,174 717,515
Accumulated other comprehensive income (4,607) (5,192) (1,745) 2,399 9,221
Cumulative distributions (1,700,579) (1,814,378) (1,931,892) (2,053,741) (2,118,230)
Total Brandywine Realty Trust's equity 2,140,827 1,933,925 1,866,344 1,829,180 1,833,365
Noncontrolling interests 18,499 18,166 17,093 17,420 17,410
Total beneficiaries' equity 2,159,326 1,952,091 1,883,437 1,846,600 1,850,775
Total liabilities and beneficiaries' equity 4,835,210 4,554,511 4,099,213 3,995,448 3,991,519
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.