PENNSYLVANIA REAL ESTATE INVESTMENT TRUST PEI Income Statement

Pennsylvania real estate investment trust (PEI)

Income statement / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount
-	-	-	-	-	-	-	-	-	-	0	0	109	-	361	-	298	-	352	425	432	-	1,136	249	403	-	825	727	-	-	-	-	-	-	-	-	-	-	-
REVENUE:
Real estate revenue:
Lease revenue
293,417	302,311	308,828	313,737	323,446	324,829	296,544	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Expense reimbursements
19,222	19,979	20,358	20,671	21,150	21,322	43,206	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Expense reimbursements
-	-	-	-	-	-	-	-	-	-	-	113,957	115,843	-	120,727	123,458	125,129	125,505	124,479	123,746	124,084	126,925	128,129	130,347	130,399	126,909	123,707	121,391	120,151	119,993	116,742	119,380	121,044	124,103	132,285	130,863	0	0	0
Percentage rent
-	-	-	-	-	-	-	-	-	-	4,807	5,039	5,098	5,245	5,673	5,714	5,651	5,724	5,380	5,056	5,058	5,124	5,029	5,080	5,340	5,732	5,773	5,874	5,799	5,713	5,960	6,071	6,277	6,363	3,269	3,105	0	0	0
Lease termination revenue
-	-	-	-	-	-	-	-	-	-	3,476	6,481	4,706	4,460	3,380	1,799	1,808	2,014	3,249	2,462	2,591	2,250	1,896	1,588	1,525	1,565	621	564	1,242	1,753	1,929	1,793	1,717	1,091	1,231	1,461	0	0	0
Other real estate revenue
11,591	12,668	12,770	13,061	12,918	12,078	9,273	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total real estate revenue
324,230	334,958	341,956	347,469	357,514	358,229	423,505	423,835	389,482	361,524	264,614	238,083	242,557	252,115	260,313	268,503	274,677	271,957	269,068	267,598	271,827	278,896	285,410	288,353	285,914	283,074	277,753	275,853	273,787	272,036	254,233	258,079	261,872	266,880	286,332	285,548	0	0	0
Other real estate revenue
-	-	-	-	-	-	-	-	-	-	-	13,676	13,361	-	16,074	15,253	15,605	14,997	12,362	12,645	13,210	13,401	14,015	14,388	13,981	14,448	13,650	13,604	13,957	14,318	12,948	13,403	14,009	13,989	13,449	13,527	0	0	0
Total real estate revenue
-	-	-	-	-	-	-	-	-	-	-	377,236	381,565	-	406,167	414,727	422,870	420,197	414,538	411,507	416,770	426,596	434,479	439,756	437,159	431,728	421,504	417,286	414,936	413,813	391,812	398,726	404,919	412,426	436,566	434,504	0	0	0
Other income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,534	5,258	6,631	6,556	6,712	8,512	5,129	0	0	0
Other income
1,500	1,834	2,157	3,373	3,909	4,171	5,248	6,026	6,015	5,966	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-
Total revenue
325,730	336,792	344,113	350,842	361,423	362,400	366,123	367,231	364,508	367,490	372,586	382,235	387,238	399,946	411,710	419,886	427,326	425,411	420,139	418,240	423,372	432,703	440,745	445,882	444,000	438,678	428,275	423,457	420,596	419,347	397,070	405,357	411,475	419,138	445,078	439,633	0	0	0
EXPENSES:
Property operating expenses:
CAM and real estate taxes
111,374	113,260	114,557	114,063	113,242	113,235	111,859	109,805	110,719	111,275	114,617	118,218	120,453	124,690	127,896	131,527	134,294	133,912	133,013	133,101	135,066	140,662	144,450	147,774	147,188	142,684	138,195	135,534	134,224	132,901	195,287	126,084	128,012	131,740	72,799	143,179	0	0	0
Utilities
13,995	14,733	15,197	15,618	15,741	15,990	15,887	15,901	16,237	16,151	16,244	16,553	16,550	17,053	17,471	18,029	18,851	19,674	19,841	20,050	20,932	23,993	24,614	25,953	25,180	22,028	21,298	21,076	21,659	21,838	36,421	22,797	23,224	23,818	12,509	25,661	0	0	0
Other property operating expenses
0	-	0	-	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total property operating expenses
0	-	0	-	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other property operating expenses
-	-	-	9,677	-	-	-	13,157	13,074	-	12,974	13,010	13,084	14,475	14,663	15,968	16,861	16,461	16,474	16,361	15,864	15,772	17,026	17,320	17,934	17,567	16,443	17,062	17,769	18,391	27,760	17,169	18,682	20,281	13,650	25,362	0	0	0
Total property operating expenses
-	-	-	139,358	-	-	-	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cost of Real Estate Revenue
-	-	-	-	-	-	-	-	-	-	-	147,781	150,087	-	160,030	165,524	170,006	170,047	169,328	169,512	171,862	180,427	186,090	191,047	190,302	182,279	175,936	173,672	173,652	173,130	259,468	166,050	169,918	175,839	98,958	194,202	0	0	0
Depreciation and amortization
133,149	137,784	130,697	132,580	133,990	133,116	134,675	131,522	131,094	128,822	129,104	125,958	124,692	126,669	128,926	138,214	143,193	142,647	142,632	140,764	141,258	144,304	144,015	145,545	143,498	140,880	136,858	133,006	129,491	127,845	187,047	120,448	125,489	128,028	78,116	153,071	0	0	0
General and administrative expenses
45,500	46,010	43,792	41,628	39,415	38,342	38,144	37,991	37,827	36,736	36,117	36,073	35,724	35,269	34,926	34,236	34,479	34,836	34,917	35,736	35,384	35,518	36,621	36,364	37,196	36,975	35,297	35,875	36,509	37,538	56,200	39,011	39,204	38,901	20,478	38,590	0	0	0
Provision for employee separation expenses
3,043	3,689	1,261	1,604	1,858	1,139	956	1,448	0	-	0	0	-	1,355	3,306	3,280	2,622	2,087	221	4,962	0	-	0	0	-	2,314	7,272	8,068	0	-	0	0	-	-	-	-	-	-	-
Insurance recoveries, net
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Insurance recoveries, net
-	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Project costs and other expenses
321	284	496	630	639	693	686	622	568	768	873	1,803	1,961	1,700	1,787	1,134	1,708	6,108	7,303	7,599	7,742	4,937	3,889	3,628	2,866	1,422	2,021	1,939	1,780	1,936	1,405	864	1,178	964	894	1,216	0	0	0
Total operating expenses
0	-	0	-	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating expenses
-	-	-	313,495	-	-	-	309,639	310,818	-	310,982	312,830	313,284	321,211	328,975	342,388	352,008	355,725	354,315	353,695	361,207	370,147	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total other expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	139,828	65,030	64,741	64,224	-30,738	39,806	0	0	0
Interest expense, net
65,000	64,000	62,299	61,999	62,399	61,400	60,403	59,545	57,963	58,400	61,211	64,067	66,716	70,724	73,768	76,238	80,297	81,096	81,313	81,716	82,140	82,165	82,018	85,424	91,563	98,731	109,092	115,611	118,737	122,118	181,970	120,128	124,254	127,148	73,092	142,936	0	0	0
Loss on debt extinguishment, net
29,627	24,859	24,832	-4,768	-4,768	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of development land parcel
-9	1,455	104,665	104,665	138,951	137,487	36,111	90,028	0	-	0	0	-	62,603	78,588	120,135	134,684	140,318	86,319	37,204	24,635	19,695	19,695	23,702	7,604	6,304	6,304	0	0	-	0	-	-	-	0	-	-	-	-
Total expenses
350,255	364,108	451,996	484,852	521,175	512,675	409,700	405,358	424,604	422,153	465,949	478,693	441,997	454,538	481,331	538,761	566,989	577,139	521,947	472,615	467,982	472,007	477,290	490,587	474,064	468,905	471,505	471,058	470,885	472,004	768,313	471,656	484,402	495,239	219,428	530,015	0	0	0
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
-24,525	-27,316	-107,883	-134,010	-159,752	-150,275	-43,577	-38,127	-60,096	-54,663	-93,363	-96,458	-54,759	-54,592	-69,621	-118,875	-139,663	-151,728	-101,808	-54,375	-44,610	-39,304	-36,545	-44,705	-30,064	-30,227	-43,230	-47,601	-50,289	-52,657	-21,061	-66,299	-72,927	-76,101	-124,532	-90,382	0	0	0
Equity in income of partnerships
6,819	8,289	9,325	10,271	10,526	11,375	10,409	12,186	13,769	14,367	17,903	18,292	18,330	18,477	15,758	13,500	11,340	9,540	8,677	9,498	10,250	10,569	11,090	10,229	9,728	9,778	9,309	9,128	8,797	8,338	8,130	7,890	7,085	6,635	6,469	7,493	0	0	0
Gain on sales of real estate by equity method investee
-10	553	551	551	562	2,772	2,622	9,340	9,340	6,567	6,718	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) on Disposition of Business
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of non operating real estate
-	-	-	-	-	-	-	-	-	-	0	0	-	-	0	0	0	-	0	0	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sales of real estate, net
4,706	2,744	2,684	2,261	0	-	0	0	-	-27	-305	-265	20,930	23,022	22,929	35,284	14,397	12,362	11,873	-414	0	-	0	0	-	-	0	0	-	-	-	-	-	-	-	0	-	-	-
Loss on sales of interests in non operating real estate
2,672	2,718	8,151	8,151	8,151	8,126	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net loss
-10,326	-13,000	-86,421	-112,773	-139,014	-126,503	-29,054	-15,118	-36,074	-32,848	0	0	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0
Operating results from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,812	4,600	5,142	4,769	4,627	0	0	0	-	-	-	-	0	-
Disposal Group Including Discontinued Operation, Impairment of Assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Gains on sales of discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	78,512	78,351	33,254	0	-	0	0	-	-	-	-	-	0	-
Income from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	0	0
Net (loss) income
-10,326	-13,000	-86,421	-112,773	-139,014	-126,503	-29,054	-15,118	-36,074	-32,848	0	0	0	-	0	0	0	-	0	0	0	-	-25,460	-11,990	3,051	37,213	22,510	-2,935	-6,327	-42,550	-36,259	-82,822	-89,432	-93,935	-97,026	-61,252	0	0	0
Less: net loss attributable to noncontrolling interest
-956	-2,128	-11,616	-12,961	-16,751	-16,174	-7,802	-6,404	-7,954	-6,895	-9,766	-9,961	-3,310	-3,050	-3,310	-7,523	-12,247	-12,884	-7,500	-3,626	-609	-432	-723	-314	97	1,354	800	-90	-289	-1,713	-1,464	-3,342	-3,592	-3,774	-3,837	-2,415	0	0	0
Net loss attributable to PREIT
-9,370	-10,872	-74,805	-99,812	-122,263	-110,329	-21,252	-8,714	-28,120	-25,953	-58,424	-67,613	-11,818	-9,663	-27,399	-62,343	-101,454	-116,683	-58,315	-26,834	-19,235	-13,830	-24,737	-11,676	2,954	35,859	21,710	-2,845	-6,038	-40,837	-34,795	-79,480	-85,840	-90,161	-93,189	-58,837	0	0	0
Less: preferred share dividends
27,375	27,375	27,375	27,375	27,375	27,375	27,579	28,261	28,484	27,845	24,759	21,196	18,091	15,848	15,848	15,848	15,848	15,848	15,848	15,848	15,848	15,848	15,848	15,848	15,848	15,848	14,258	12,141	0	-	0	0	-	-	-	-	-	-	-
Net loss attributable to PREIT common shareholders
-36,745	-38,247	-102,180	-127,187	-149,638	-137,704	-52,934	-41,078	-60,707	-57,901	-83,183	-88,809	-29,909	-25,511	-43,247	-78,191	-117,302	-132,531	-74,163	-42,682	-35,083	-29,678	-40,585	-27,524	-12,894	20,011	6,057	-16,908	-17,984	-48,821	-95,493	-99,016	0	-	0	0	-	-	-
Net loss
-10,326	-13,000	-86,421	-112,773	-139,014	-126,503	-29,054	-15,118	-36,074	-32,848	-38,547	-41,678	0	-	0	0	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	0	0
Net loss
-10,326	-13,000	-86,421	-112,773	-139,014	-126,503	-29,054	-15,118	-36,074	-32,848	-68,190	-77,574	-15,128	-12,713	-30,709	-69,866	-113,701	-129,567	-65,815	-30,460	-19,844	-14,262	-25,869	-34,377	-20,336	-20,449	-33,921	-38,473	-41,492	-44,319	0	0	0	-	-	-	-	0	0
Noncontrolling interest
-956	-2,128	-11,616	-12,961	-16,751	-16,174	-7,802	-6,404	-7,954	-6,895	-9,766	-9,961	-3,310	-3,050	-3,310	-7,523	-12,247	-12,884	-7,500	-3,626	-609	-432	-779	-1,029	-652	-729	-1,190	-1,464	-1,653	-1,778	-519	-2,354	-2,580	-2,727	-4,628	-3,230	0	0	0
Preferred share dividends
27,375	27,375	27,375	27,375	27,375	27,375	27,579	28,261	28,484	27,845	24,759	21,196	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends on unvested restricted shares
1,015	883	794	708	622	542	512	463	413	372	353	347	335	322	315	310	313	315	329	340	353	380	412	433	444	439	440	464	489	442	464	475	491	547	578	603	0	0	0
Net loss used to calculate loss per share—basic and diluted
-37,760	-39,130	-102,974	-127,895	-150,260	-138,246	-53,446	-41,541	-61,120	-58,273	-83,536	-89,156	-30,244	-25,833	-43,562	-78,501	-117,615	-132,846	-74,492	-43,022	-35,436	-30,058	-41,350	-49,629	-35,976	-36,007	-48,824	-51,536	-52,274	-50,967	-16,953	-58,235	-62,163	-65,696	-112,563	-78,812	0	0	0
Income from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	57,662	56,431	35,538	35,165	1,769	0	0	0	-	-	-	-	0	0
Noncontrolling interest in discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,083	1,990	1,374	1,364	65	0	0	0	-	-	-	-	0	0
Income from discontinued operations used to calculate earnings per share basic and diluted
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	55,579	54,441	34,164	33,801	1,704	0	0	0	-	-	-	-	0	0
Basic and diluted income (loss) per share (in dollars per share)
-0.26	-	-	-	-0.30	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Basic and diluted income (loss) per share (in dollars per share)
-	-	0.22	-0.17	-	-	-0.11	-0.50	-0.14	-	0.06	-0.79	-0.10	-	-0.02	0.06	-0.03	-	-0.53	-0.51	-0.26	-	-0.07	-0.40	-0.18	-	-0.20	-0.22	-0.22	-	-0.29	-0.26	-0.20	-	-	-	-	-0.42	-0.46
Income from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.32	0.02	0.59	-	0.02	0.01	0.02	-	-	-	-	0.35	0.01
Loss from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.42	-0.46
Income (loss) from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.35	0.01
Basic loss per share
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1.05	-0.34	-0.27	-0.07	-0.45
Total (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.12	-0.20	0.37	-	-0.27	-0.25	-0.18	-	-1.05	-0.34	-0.27	-0.07	-0.45
Weighted average shares outstanding – basic (in shares)
76,774	76,629	76,492	76,405	71,358	69,845	69,803	69,747	69,601	69,507	69,424	69,307	69,218	69,151	69,129	69,091	68,973	68,834	68,807	68,753	68,566	68,357	68,331	68,236	67,944	67,791	67,579	63,540	55,738	55,247	55,190	55,143	54,908	54,709	54,701	54,680	54,466	54,200	50,317
Effect of common share equivalents (in shares)
0	-332	332	0	0	0	0	0	0	0	0	0	0	-	0	68	0	-	0	-	-	-	-	-	-	-	0	0	0	-	0	0	0	0	0	0	0	0	0
Weighted average shares outstanding – diluted (in shares)
76,774	76,297	76,824	76,405	71,358	69,845	69,803	69,747	69,601	69,507	69,424	69,307	69,218	69,083	69,129	69,159	68,973	68,834	68,807	68,753	68,566	68,357	68,331	68,236	67,944	67,791	67,579	63,540	55,738	55,247	55,190	55,143	54,908	54,709	54,701	54,680	54,466	54,200	50,317
Gain Loss On Sale Of Real Estate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Development Land Parcel
Impairment of assets
-	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-