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Summary of Quarterly Results | 12 Months Ended
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Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract] |
SUMMARY OF QUARTERLY RESULTS (UNAUDITED) | 21. SUMMARY OF QUARTERLY RESULTS (UNAUDITED) The following is a summary of quarterly financial information as of and for the years ended December 31, 2018 and 2017 (in thousands, except per share data): Brandywine Realty Trust
| 1st |  |  | 2nd |  |  | 3rd |  |  | 4th |  |
| Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |  |
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total revenue | $ | 136,358 |  |  | $ | 133,786 |  |  | $ | 134,998 |  |  | $ | 139,203 |  | (b)
Net income (loss) |  | 44,705 |  |  |  | 13,136 |  |  |  | (43,262 | ) | (a) |  | 122,710 |  | (c)
Net income (loss) allocated to Common Shares |  | 44,215 |  |  |  | 12,920 |  |  |  | (43,003 | ) |  |  | 121,823 |  |
Basic earnings (loss) per Common Share | $ | 0.25 |  |  | $ | 0.07 |  |  | $ | (0.24 | ) |  | $ | 0.68 |  |
Diluted earnings (loss) per Common Share | $ | 0.25 |  |  | $ | 0.07 |  |  | $ | (0.24 | ) |  | $ | 0.68 |  |
2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total revenue | $ | 130,920 |  |  | $ | 127,791 |  |  | $ | 128,438 |  |  | $ | 133,344 |  |
Net income |  | 21,271 |  |  |  | 7,698 |  |  |  | 19,046 |  |  |  | 73,844 |  |
Net income allocated to Common Shares |  | 19,278 |  |  |  | 4,092 |  |  |  | 18,803 |  |  |  | 73,137 |  |
Basic earnings per Common Share | $ | 0.11 |  |  | $ | 0.02 |  |  | $ | 0.11 |  |  | $ | 0.42 |  |
Diluted earnings per Common Share | $ | 0.11 |  |  | $ | 0.02 |  |  | $ | 0.11 |  |  | $ | 0.41 |  |
The summation of quarterly earnings per share amounts does not necessarily equal the full year amounts due to rounding.
(a) | The decrease in third quarter net income primarily relates to a $56.9 million impairment charge which related to eight office properties in the Company’s Metropolitan Washington, D.C. segment. See Note 3, “Real Estate Investments,” for further information.
(b) | The increase in fourth quarter revenues primarily relates to the acquisition of the Austin Portfolio, located in Austin, Texas, on December 11, 2018. See Note 3, “Real Estate Investments,” for further information on this transaction.
(c) | The increase in net income for the fourth quarter primarily relates to gains of $103.8 million and $28.3 million, recorded in the “Net gain on real estate venture transactions” and “Gain on promoted interest in unconsolidated real estate venture” captions within the Company’s consolidated statements of operations, respectively, from the Austin Portfolio transaction. For further details, see Note 3, "Real Estate Investments."
Brandywine Operating Partnership, L.P.
| 1st |  |  | 2nd |  |  | 3rd |  |  | 4th |  |
| Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |  |
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total revenue | $ | 136,358 |  |  | $ | 133,786 |  |  | $ | 134,998 |  |  | $ | 139,203 |  | (b)
Net income (loss) |  | 44,705 |  |  |  | 13,136 |  |  |  | (43,262 | ) | (a) |  | 122,710 |  | (c)
Net income (loss) attributable to Common Partnership Unitholders |  | 44,586 |  |  |  | 13,029 |  |  |  | (43,362 | ) |  |  | 122,612 |  |
Basic earnings (loss) per Common Partnership Unit | $ | 0.25 |  |  | $ | 0.07 |  |  | $ | (0.24 | ) |  | $ | 0.68 |  |
Diluted earnings (loss) per Common Partnership Unit | $ | 0.25 |  |  | $ | 0.07 |  |  | $ | (0.24 | ) |  | $ | 0.68 |  |
2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total revenue | $ | 130,920 |  |  | $ | 127,791 |  |  | $ | 128,438 |  |  | $ | 133,344 |  |
Net income |  | 21,271 |  |  |  | 7,698 |  |  |  | 19,046 |  |  |  | 73,844 |  |
Net income attributable to Common Partnership Unitholders |  | 19,442 |  |  |  | 4,129 |  |  |  | 18,961 |  |  |  | 73,758 |  |
Basic earnings per Common Partnership Unit | $ | 0.11 |  |  | $ | 0.02 |  |  | $ | 0.11 |  |  | $ | 0.42 |  |
Diluted earnings per Common Partnership Unit | $ | 0.11 |  |  | $ | 0.02 |  |  | $ | 0.11 |  |  | $ | 0.41 |  |
The summation of quarterly earnings per share amounts does not necessarily equal the full year amounts due to rounding.
(a) | (a)The decrease in third quarter net income primarily relates to a $56.9 million impairment charge which related to eight office properties in the Company’s Metropolitan Washington, D.C. segment. See Note 3, “Real Estate Investments,” for further information.
(b) | The increase in fourth quarter revenues primarily relates to the acquisition of the Austin Portfolio, located in Austin, Texas, on December 11, 2018. See Note 3, “Real Estate Investments,” for further information on this transaction.
(c) | The increase in net income for the fourth quarter primarily relates to gains of $103.8 million and $28.3 million, recorded in the “Net gain on real estate venture transactions” and “Gain on promoted interest in unconsolidated real estate venture” captions within the Company’s consolidated statements of operations, respectively, from the Austin Portfolio transaction. For further details, see Note 3, "Real Estate Investments."

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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