Pennsylvania real estate investment trust (PEI)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
REVENUE:
Real estate revenue:
Lease revenue

302,311

324,829

325,010

-

-

-

-

-

-

-

-

Expense reimbursements

19,979

21,322

22,468

118,880

-

-

-

-

-

-

-

Expense reimbursements

-

-

-

-

125,505

126,925

126,909

119,993

124,103

125,946

135,627

Percentage rent

-

-

-

5,245

5,724

5,124

5,732

5,713

6,363

5,537

5,357

Lease termination revenue

-

-

-

4,460

2,014

2,250

1,565

1,753

1,091

2,986

2,154

Other real estate revenue

12,668

12,078

14,046

13,897

-

-

-

-

-

-

-

Total real estate revenue

334,958

358,229

361,524

252,115

271,957

278,896

283,074

272,036

266,880

270,831

288,542

Real estate revenue

-

-

-

394,597

-

-

-

-

-

-

-

Other real estate revenue

-

-

-

-

14,997

13,401

14,448

14,318

13,989

15,481

16,591

Total real estate revenue

-

-

-

-

420,197

426,596

431,728

413,813

412,426

420,781

448,271

Other income

-

-

-

5,349

5,214

6,107

6,950

5,534

6,712

5,276

3,035

Other income

1,834

4,171

5,966

-

-

-

-

-

-

-

-

Total revenue

336,792

362,400

367,490

399,946

425,411

432,703

438,678

419,347

419,138

426,057

451,306

EXPENSES:
Property operating expenses:
CAM and real estate taxes

113,260

113,235

111,275

124,690

133,912

140,662

142,684

132,901

131,740

132,123

139,274

Utilities

14,733

15,990

16,151

17,053

19,674

23,993

22,028

21,838

23,818

25,835

24,066

Other property operating expenses

8,565

12,007

12,879

-

-

-

-

-

-

-

-

Total property operating expenses

136,558

141,232

140,305

-

-

-

-

-

-

-

-

Other property operating expenses

-

-

-

14,475

16,461

15,772

17,567

18,391

20,281

24,572

27,628

Total property operating expenses

-

-

-

156,218

-

-

-

-

-

-

-

Cost of Real Estate Revenue

-

-

-

-

170,047

180,427

182,279

173,130

175,839

182,530

190,968

Depreciation and amortization

137,784

133,116

128,822

126,669

142,647

144,304

140,880

127,845

128,028

151,452

161,690

General and administrative expenses

46,010

38,342

36,736

35,269

34,836

35,518

36,975

37,538

38,901

38,973

37,558

Provision for employee separation expenses

3,689

1,139

1,299

1,355

2,087

4,961

2,314

9,437

0

-

-

Insurance recoveries, net

4,362

689

0

-

-

-

-

-

-

-

-

Project costs and other expenses

284

693

768

1,700

6,108

4,937

1,422

1,936

964

1,137

927

Total operating expenses

319,963

313,833

307,930

-

-

-

-

-

-

-

-

Total operating expenses

-

-

-

321,211

355,725

370,147

363,870

349,886

-

-

-

Total other expenses

-

-

-

-

-

-

-

-

64,224

40,110

112,739

Interest expense, net

64,000

61,400

58,400

70,724

81,096

82,165

98,731

122,118

127,148

136,412

131,236

Loss on debt extinguishment, net

24,859

0

0

-

-

-

-

-

-

-

-

Impairment of development land parcel

1,455

137,487

55,793

62,603

140,318

19,695

6,304

0

24,359

-

74,254

Total expenses

364,108

512,675

422,153

454,538

577,139

472,007

468,905

472,004

495,239

510,504

569,586

Gain on extinguishment of debt

-

-

-

-

-

-

-

-

-

-

27,047

Loss before equity in income of partnerships, gain on sales of real estate by equity method investee, gain on sales of real estate, net, and adjustment to loss on sales of interests in non operating real estate

-27,316

-150,275

-54,663

-54,592

-151,728

-39,304

-30,227

-52,657

-76,101

-84,447

-118,280

Equity in income of partnerships

8,289

11,375

14,367

18,477

9,540

10,569

9,778

8,338

6,635

9,050

10,102

Gain on sales of real estate by equity method investee

553

2,772

6,567

0

-

-

-

-

-

-

-

Gain on sales of real estate, net

2,744

1,722

-27

23,022

12,362

12,699

-

-

1,590

-

4,311

Loss on sales of interests in non operating real estate

2,718

8,126

1,270

-

-

-

-

-

-

-

-

Adjustment to gain on sales of interests in non operating real estate

12

-223

-362

-

-

-

-

-

-

-

-

Net loss

-13,000

-126,503

-32,848

-

-

-

-

-

-

-

-90,091

Operating results from discontinued operations

-

-

-

-

-

-

2,812

4,627

1,918

1,940

4,273

Impairment of assets of discontinued operations

-

-

-

-

-

-

23,662

3,805

27,977

-

-

Gains on sales of discontinued operations

-

-

-

-

-

-

78,512

947

0

19,094

9,503

Income from discontinued operations

-

-

-

-

-

-

57,662

1,769

-26,059

21,034

13,776

Net (loss) income

-13,000

-126,503

-32,848

-

-

-

37,213

-42,550

-93,935

-54,363

-90,091

Less: net loss attributable to noncontrolling interest

-2,128

-16,174

-6,895

-3,050

-12,884

-432

1,354

-1,713

-3,774

-2,436

-4,353

Net loss attributable to PREIT

-10,872

-110,329

-25,953

-9,663

-116,683

-13,830

35,859

-40,837

-90,161

-51,927

-85,738

Less: preferred share dividends

27,375

27,375

27,845

15,848

15,848

15,848

15,848

7,984

0

-

-

Less: loss on redemption on preferred shares

0

0

4,103

0

-

-

-

-

-

-

-

Net loss attributable to PREIT common shareholders

-38,247

-137,704

-57,901

-25,511

-132,531

-29,678

20,011

-48,821

-90,161

-51,927

-

Net loss

-13,000

-126,503

-32,848

-12,713

-129,567

-

-

-

-67,876

-75,397

-103,867

Net loss

-13,000

-126,503

-32,848

-12,713

-129,567

-14,262

-20,449

-44,319

-67,876

-75,397

-103,867

Noncontrolling interest

-2,128

-16,174

-6,895

-3,050

-12,884

-432

-729

-1,778

-2,727

-3,240

-5,080

Preferred share dividends

-

-

-

15,848

15,848

15,848

15,848

7,984

0

-

-

Preferred share dividends

27,375

27,375

27,845

15,848

15,848

-

-

-

-

-

-

Loss on redemption of preferred shares

0

0

4,103

-

-

-

-

-

-

-

-

Dividends on unvested restricted shares

883

542

372

322

315

380

439

442

547

615

797

Net loss used to calculate loss per share—basic and diluted

-39,130

-138,246

-58,273

-25,833

-132,846

-30,058

-36,007

-50,967

-65,696

-72,772

-99,584

Income from discontinued operations

-

-

-

-

-

-

57,662

1,769

-26,059

21,034

13,776

Noncontrolling interest in discontinued operations

-

-

-

-

-

-

2,083

65

-1,047

804

727

Income from discontinued operations used to calculate earnings per share  basic and diluted

-

-

-

-

-

-

55,579

1,704

-25,012

20,230

13,049

Loss from continuing operations (in dollars per share)

-

-

-

-0.37

-1.93

-0.44

-0.56

-0.92

-1.20

-

-

Income (loss) from discontinued operations (in dollars per share)

-

-

-

-

-

-

0.87

0.03

-0.46

-

-

Basic and diluted income (loss) per share (in dollars per share)

-0.52

-1.98

-0.84

-

-

-

0.31

-0.89

-1.66

-

-

Basic and diluted income (loss) per share (in dollars per share)

-

-

-

-

-

-

-

-

-

-1.44

-2.43

Income from discontinued operations

-

-

-

-

-

-

-

-

-

-

0.32

Loss from continuing operations

-

-

-

-

-

-

-

-

-

-

-2.43

Income (loss) from discontinued operations

-

-

-

-

-

-

-

-

-

0.40

0.32

Basic loss per share

-

-

-

-

-

-

-

-

-

-

-2.11

Total (in dollars per share)

-

-

-

-

-

-

-

-

-

-1.04

-2.11

Weighted average shares outstanding – basic (in shares)

75,221

69,749

69,364

69,086

68,740

68,217

63,662

55,122

54,639

50,642

40,953

Effect of common share equivalents (in shares)

0

0

0

-

-

-

-

-

0

0

0

Weighted average shares outstanding – diluted (in shares)

75,221

69,749

69,364

69,086

68,740

68,217

63,662

55,122

54,639

50,642

40,953

Gain Loss On Sale Of Real Estate

-

-

-

380

259

1,774

-

-

-

-

-

Development Land Parcel
Impairment of assets

3,562

0

0

-

-

-

-

-

-

-

-