Pennsylvania Real Estate Investment Trust (PEI) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
ONE COMMERCE SQUARE PHILADELPHIA, PA 19103 |
| State of Incorp. | PA |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6798 - Real Estate Investment Trusts (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2023 MRQ | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 22,937 | 43,852 | 43,309 | 12,211 | 18,084 | 15,348 | |||
| Cash and cash equivalents | 22,937 | 43,852 | 43,309 | 12,211 | 18,084 | 15,348 | |||
| Receivables | (462) | (950) | (1,492) | (2,845) | (6,597) | (7,059) | |||
| Disposal group, including discontinued operation | 22,307 | ||||||||
| Asset, held-for-sale, not part of disposal group | 61,767 | 8,780 | 1,384 | 12,506 | |||||
| Total current assets: | 84,242 | 51,682 | 43,201 | 21,872 | 33,794 | 8,289 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 24,100 | ✕ | ✕ | ||||||
| Property, plant and equipment | 432,589 | 489,514 | 509,388 | 563,898 | 580,376 | 604,689 | |||
| Long-term investments and receivables | 7,845 | 16,525 | 27,066 | 159,993 | 131,124 | 216,823 | |||
| Long-term investments | 7,845 | 16,525 | 27,066 | 159,993 | 131,124 | 216,823 | |||
| Intangible assets, net (including goodwill), including: | 8,623 | 10,054 | 11,392 | 13,404 | 17,868 | 17,693 | |||
| Goodwill | 5,249 | 5,249 | 5,249 | 5,249 | 5,249 | 5,249 | |||
| Intangible assets, net (excluding goodwill) | (23,029) | (21,598) | (19,187) | (18,248) | (15,543) | (13,117) | |||
| Other undisclosed intangible assets, net (including goodwill) | 26,403 | 26,403 | 25,330 | 26,403 | 28,162 | 25,561 | |||
| Total noncurrent assets: | 449,057 | 516,093 | 547,846 | 761,395 | 729,368 | 839,205 | |||
| Other undisclosed assets | 1,269,830 | 1,483,961 | 1,586,139 | 1,568,000 | 1,641,952 | 1,741,277 | |||
| TOTAL ASSETS: | 1,803,129 | 2,051,736 | 2,177,186 | 2,351,267 | 2,405,114 | 2,588,771 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 547,289 | 547,758 | |||||||
| Long-term debt, excluding current maturities | 547,289 | 547,758 | |||||||
| Total noncurrent liabilities: | 547,289 | 547,758 | |||||||
| Other undisclosed liabilities | 1,927,565 | 2,044,689 | 2,050,246 | 1,923,842 | 1,311,274 | 1,280,022 | |||
| Total liabilities: | 1,927,565 | 2,044,689 | 2,050,246 | 1,923,842 | 1,858,563 | 1,827,780 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | (113,226) | 16,162 | 131,210 | 423,679 | 440,781 | 624,039 | |||
| Common stock | 5,356 | 80,200 | 79,537 | 77,550 | 70,495 | 69,983 | |||
| Additional paid in capital | 1,858,675 | 1,777,013 | 1,771,777 | 1,766,883 | 1,671,042 | 1,663,966 | |||
| Accumulated other comprehensive income (loss) | 3,282 | (8,830) | (20,620) | (12,556) | 5,408 | 7,226 | |||
| Other undisclosed equity, attributable to parent | (1,980,539) | (1,832,221) | (1,699,484) | (1,408,198) | (1,306,164) | (1,117,136) | |||
| Equity, attributable to noncontrolling interest | (11,210) | (9,115) | (4,270) | 3,746 | 105,770 | 136,952 | |||
| Total equity: | (124,436) | 7,047 | 126,940 | 427,425 | 546,551 | 760,991 | |||
| TOTAL LIABILITIES AND EQUITY: | 1,803,129 | 2,051,736 | 2,177,186 | 2,351,267 | 2,405,114 | 2,588,771 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 296,028 | 296,430 | 261,823 | 336,792 | 362,400 | 367,490 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 361,524 | |
| Operating lease, lease income | 271,751 | 270,065 | 2,700 | ✕ | ✕ | |||
| Cost of revenue | (273,525) | (251,598) | (217,723) | (182,937) | (141,232) | (140,305) | ||
| Cost of goods and services sold | 17,856 | 16,514 | 15,462 | 106,522 | (140,305) | |||
| Gross profit: | 22,503 | 44,832 | 44,100 | 153,855 | 221,168 | 227,185 | ||
| Operating expenses | (200,944) | (177,134) | (168,215) | (181,171) | ||||
| Other operating expense, net | (451) | |||||||
| Other undisclosed operating loss | ||||||||
| Operating income (loss): | (178,892) | (132,302) | (124,115) | (27,316) | 221,168 | 227,185 | ||
| Nonoperating income (Other Nonoperating income) | ||||||||
| Interest and debt expense | (141,760) | (123,444) | (85,828) | (39,128) | (61,355) | (58,430) | ||
| Other undisclosed income (loss) from continuing operations before equity method investments, income taxes | 123,444 | 85,828 | 39,128 | (310,088) | (223,418) | |||
| Loss from continuing operations before income taxes: | (320,652) | (132,302) | (124,115) | (27,316) | (150,275) | (54,663) | ||
| Other undisclosed income (loss) from continuing operations | (3,565) | (142,591) | 14,316 | 23,772 | 21,815 | |||
| Loss from continuing operations: | (320,652) | (135,867) | (266,706) | (13,000) | (126,503) | (32,848) | ||
| Loss before gain (loss) on sale of properties: | ✕ | (135,867) | (266,706) | (13,000) | (126,503) | (32,848) | ||
| Other undisclosed net income | 170,086 | |||||||
| Net loss: | (150,566) | (135,867) | (266,706) | (13,000) | (126,503) | (32,848) | ||
| Net income attributable to noncontrolling interest | 2,248 | 3,130 | 7,189 | 2,128 | 16,174 | 3,504 | ||
| Net loss attributable to parent: | (148,318) | (132,737) | (259,517) | (10,872) | (110,329) | (29,344) | ||
| Preferred stock dividends and other adjustments | (27,375) | (27,375) | (27,375) | (27,375) | (27,375) | (31,948) | ||
| Net loss available to common stockholders, diluted: | (175,693) | (160,112) | (286,892) | (38,247) | (137,704) | (61,292) | ||
Comprehensive Income ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net loss: | (150,566) | (135,867) | (266,706) | (13,000) | (126,503) | (32,848) | ||
| Other comprehensive income (loss) | 12,265 | 12,010 | (8,359) | (18,852) | (2,034) | 6,274 | ||
| Other undisclosed comprehensive loss | ||||||||
| Comprehensive loss: | (138,301) | (123,857) | (275,065) | (31,852) | (128,537) | (26,574) | ||
| Comprehensive income, net of tax, attributable to noncontrolling interest | 2,095 | 2,910 | 7,484 | 3,016 | 16,390 | 2,834 | ||
| Comprehensive loss, net of tax, attributable to parent: | (136,206) | (120,947) | (267,581) | (28,836) | (112,147) | (23,740) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.