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Income Statement

 
 2016 Q3 YTD2015 Y2014 Y2013 Y2012 Y
Source Document9/30/2016 12/31/2015 12/31/2015 12/31/2015 12/31/2014 
Currency CodeUSDUSDUSDUSDUSD
(in thousands)     
      
Revenue
Rents318,324486,731483,682461,387437,560
Tenant reimbursements53,31585,72284,87979,08777,060
Termination fees1,4594,7978,0004,4973,233
Third party management fees, labor reimbursement and leasing17,69118,76417,20013,05312,116
Other2,5886,6173,2214,1865,710
Total revenue393,377602,631596,982562,210535,679
Operating expenses
Property operating expenses114,208181,170177,330160,406152,319
Real estate taxes34,93350,62351,84455,61253,402
Third party management expenses7,1726,2946,7915,7515,127
Depreciation and amortization142,736219,029208,569197,021188,382
General and administrative expenses20,71129,40626,77927,62825,413
Provision for impairment13,06982,2081,7650NA
Total operating expenses332,829568,730473,078446,418424,643
Operating income60,54833,901123,904115,792111,036
Other income (expense)
Interest income9701,2243,9741,0443,008
Tax credit transaction income019,95511,85311,85311,840
Interest expense(64,334)(110,717)(124,329)(121,937)(132,939)
Interest expense - amortization of deferred financing costs(2,063)(4,557)(5,148)(4,676)(6,208)
Interest expense - financing obligation(679)(1,237)(1,144)(972)(850)
Recognized hedge activityNA0(828)0(2,985)
Equity in loss of Real Estate Ventures(9,323)(811)(790)3,6642,741
Net gain (loss) on disposition of real estate114,62520,4964,90100
Net gain on sale of undepreciated real estate1883,0191,184(137)0
Net gain from remeasurement of investments in Real Estate Ventures07584586,8660
Net gain on Real Estate Venture transactions19,5297,229(417)29,604(950)
Loss on early extinguishment of debt(66,590)0(7,594)(2,119)(22,002)
Provision for impairment on assets held for saleNANANANA0
Income (loss) from continuing operationsNA(30,740)6,02438,982(37,309)
Discontinued operations
Income from discontinued operationsNA0188259,064
Net gain on disposition of discontinued operationsNA09003,38234,774
Total discontinued operationsNA09184,20743,838
Net income52,871(30,740)6,94243,1896,529
Net income from discontinued operations attributable to non-controlling interestsNA0(10)(55)(797)
Net loss attributable to non-controlling interest - partners' share of consolidated real estate venturesNANANANA0
Net (income) loss from continuing operations attributable to non-controlling interestsNA33943(357)863
Net income attributable to non-controlling interests(425)33933(412)66
Net income attributable to Brandywine Realty Trust52,446(30,401)6,97542,7776,595
Distribution to preferred shareholders(5,175)(6,900)(6,900)(6,900)(10,405)
Preferred share redemption chargeNANANANA(4,052)
Nonforfeitable dividends allocated to unvested restricted shareholders(263)(329)(349)(363)(376)
Net income attributable to Common Shareholders of Brandywine Realty Trust47,008(37,630)(274)35,514(8,238)
Basic income per Common Share
Continuing operations0.27(0.21)(0.01)0.2(0.36)
Discontinued operationsNA00.010.030.3
TotalNA(0.21)00.23(0.06)
Diluted income per Common Share
Continuing operations0.27(0.21)(0.01)0.2(0.36)
Discontinued operationsNA00.010.030.3
TotalNA(0.21)00.23(0.06)
Basic weighted average shares outstanding174,976,998178,162,160166,202,649153,140,458143,257,097
Diluted weighted average shares outstanding176,009,822178,162,160166,202,649154,414,311143,257,097
Net income (loss) attributable to Brandywine Realty Trust
Total continuing operationsNA(30,401)6,06738,625(36,446)
Total discontinued operationsNA09084,15243,041
Net income (loss)NA(30,401)6,97542,7776,595
Distributions declared per Common Share0.470.60.60.6NA
Comprehensive income attributable to Brandywine Realty Trust
Net income52,871(30,740)6,94243,1896,529
Comprehensive income
Unrealized gain (loss) on derivative financial instruments(10,764)(1,010)(1,190)12,789(7,338)
Loss on settlement of interest rate swapsNA0(828)0(2,985)
Reclassification of realized losses on derivative financial instruments to operations, net818420388286297
Total comprehensive income (loss)(9,946)(590)(1,630)13,075(10,026)
Comprehensive income42,925(31,330)5,31256,264(3,497)
Comprehensive income attributable to non-controlling interest(339)34451(564)261
Comprehensive income attributable to Brandywine Realty Trust42,586(30,986)5,36355,700(3,236)


Data shown on this page is extracted directly from the company's documents. SNL 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, SNL, as always, stands by its commitment to the quality of the data.

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