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CONSOLIDATED STATEMENTS OF CASH FLOWS - BRANDYWINE OPERATING PARTNERSHIP L.P. - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 24,230 $ 7,763
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 132,875 131,303
Amortization of deferred financing costs 2,259 2,127
Amortization of debt discount/(premium), net (1,463) (1,463)
Amortization of stock compensation costs 7,232 5,732
Straight-line rent income (8,958) (10,641)
Amortization of acquired above (below) market leases, net (2,189) (3,929)
Ground rent expense 611 712
Provision for doubtful accounts 0 940
Total gain on sale of real estate (16,820) (3,045)
Loss from unconsolidated real estate ventures, net of distributions 15,049 20,798
Income tax provision 66 46
Changes in assets and liabilities:    
Accounts receivable 933 672
Other assets (9,949) (8,562)
Accounts payable and accrued expenses 3,240 3,650
Deferred income, gains and rent (666) 914
Other liabilities 1,712 (6,298)
Net cash provided by operating activities 148,162 140,719
Cash flows from investing activities:    
Acquisition of properties (3,446) 0
Proceeds from the sale of properties 35,462 10,303
Proceeds from insurance 0 1,250
Proceeds from note receivable 0 50,000
Capital expenditures for tenant improvements (67,782) (30,168)
Capital expenditures for redevelopments (74,383) (18,705)
Capital expenditures for developments (82,507) (26,694)
Advances for the purchase of tenant assets, net of repayments (447) 279
Investment in unconsolidated real estate ventures (43,681) (27,210)
Deposits for real estate (7,450) 0
Capital distributions from unconsolidated real estate ventures 8,930 7,499
Leasing costs paid (20,096) (11,475)
Net cash used in investing activities (255,400) (44,921)
Cash flows from financing activities:    
Proceeds from credit facility borrowings 260,000 116,000
Repayments of credit facility borrowings (37,000) (116,000)
Debt financing costs paid (6,641) 0
Exercise of stock options, net 0 (63)
Shares used for employee taxes upon vesting of share awards (2,941) (1,762)
Partner contributions to consolidated real estate venture 0 2,765
Redemption of limited partnership units (4,006) (2,334)
Distributions paid to shareholders (98,020) (97,637)
Net cash provided by (used in) financing activities 111,039 (99,578)
Increase/(Decrease) in cash and cash equivalents and restricted cash 3,801 (3,780)
Cash and cash equivalents and restricted cash at beginning of period 28,300 47,077
Cash and cash equivalents and restricted cash at end of period 32,101 43,297
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents, beginning of period 27,463 46,344
Restricted cash, beginning of period 837 733
Cash and cash equivalents and restricted cash at beginning of period 28,300 47,077
Cash and cash equivalents, end of period 31,198 42,484
Restricted cash, end of period 903 813
Cash and cash equivalents and restricted cash at end of period 32,101 43,297
Supplemental disclosure:    
Cash paid for interest, net of capitalized interest during the nine months ended September 30, 2022 and 2021 of $7,274 and $6,348, respectively 47,711 45,786
Cash paid for income taxes 902 23
Supplemental disclosure of non-cash activity:    
Dividends and distributions declared but not paid 32,805 32,763
Change in investment in real estate ventures as a result of deconsolidation 107,057 32,761
Change in operating real estate from deconsolidation of operating properties (105,405) (30,073)
Change in other assets as a result of deconsolidation of operating properties (1,652) (2,688)
Change in other assets as a result of investing activities 13,396 0
Change in capital expenditures financed through accounts payable at period end (11,020) 6,653
Change in capital expenditures financed through retention payable at period end (4,609) (1,473)
BRANDYWINE OPERATING PARTNERSHIP, L.P.    
Cash flows from operating activities:    
Net income 24,230 7,763
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 132,875 131,303
Amortization of deferred financing costs 2,259 2,127
Amortization of debt discount/(premium), net (1,463) (1,463)
Amortization of stock compensation costs 7,232 5,732
Straight-line rent income (8,958) (10,641)
Amortization of acquired above (below) market leases, net (2,189) (3,929)
Ground rent expense 611 712
Provision for doubtful accounts 0 940
Total gain on sale of real estate (16,820) (3,045)
Loss from unconsolidated real estate ventures, net of distributions 15,049 20,798
Income tax provision 66 46
Changes in assets and liabilities:    
Accounts receivable 933 672
Other assets (9,949) (8,562)
Accounts payable and accrued expenses 3,240 3,650
Deferred income, gains and rent (666) 914
Other liabilities 1,712 (6,298)
Net cash provided by operating activities 148,162 140,719
Cash flows from investing activities:    
Acquisition of properties (3,446) 0
Proceeds from the sale of properties 35,462 10,303
Proceeds from insurance 0 1,250
Proceeds from note receivable 0 50,000
Capital expenditures for tenant improvements (67,782) (30,168)
Capital expenditures for redevelopments (74,383) (18,705)
Capital expenditures for developments (82,507) (26,694)
Advances for the purchase of tenant assets, net of repayments (447) 279
Investment in unconsolidated real estate ventures (43,681) (27,210)
Deposits for real estate (7,450) 0
Capital distributions from unconsolidated real estate ventures 8,930 7,499
Leasing costs paid (20,096) (11,475)
Net cash used in investing activities (255,400) (44,921)
Cash flows from financing activities:    
Proceeds from credit facility borrowings 260,000 116,000
Repayments of credit facility borrowings (37,000) (116,000)
Debt financing costs paid (6,641) 0
Exercise of stock options, net 0 (63)
Shares used for employee taxes upon vesting of share awards (2,941) (1,762)
Partner contributions to consolidated real estate venture 0 2,765
Redemption of limited partnership units (4,006) (2,334)
Distributions paid to shareholders (98,373) (98,184)
Net cash provided by (used in) financing activities 111,039 (99,578)
Increase/(Decrease) in cash and cash equivalents and restricted cash 3,801 (3,780)
Cash and cash equivalents and restricted cash at beginning of period 28,300 47,077
Cash and cash equivalents and restricted cash at end of period 32,101 43,297
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents, beginning of period 27,463 46,344
Restricted cash, beginning of period 837 733
Cash and cash equivalents and restricted cash at beginning of period 28,300 47,077
Cash and cash equivalents, end of period 31,198 42,484
Restricted cash, end of period 903 813
Cash and cash equivalents and restricted cash at end of period 32,101 43,297
Supplemental disclosure:    
Cash paid for interest, net of capitalized interest during the nine months ended September 30, 2022 and 2021 of $7,274 and $6,348, respectively 47,711 45,786
Cash paid for income taxes 902 23
Supplemental disclosure of non-cash activity:    
Dividends and distributions declared but not paid 32,805 32,763
Change in investment in real estate ventures as a result of deconsolidation 107,057 32,761
Change in operating real estate from deconsolidation of operating properties (105,405) (30,073)
Change in other assets as a result of deconsolidation of operating properties (1,652) (2,688)
Change in other assets as a result of investing activities 13,396 0
Change in capital expenditures financed through accounts payable at period end (11,020) 6,653
Change in capital expenditures financed through retention payable at period end $ (4,609) $ (1,473)