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CONSOLIDATED STATEMENTS OF CASH FLOWS - BRANDYWINE OPERATING PARTNERSHIP L.P. - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 53,992 $ 12,366 $ 307,326
Adjustments to reconcile net income to net cash from operating activities:      
Depreciation and amortization 177,984 178,105 188,283
Amortization of deferred financing costs 3,091 2,836 2,904
Amortization of debt discount/(premium), net (5,254) (1,951) (568)
Amortization of stock compensation costs 8,939 7,130 6,627
Straight-line rent income (13,631) (13,485) (14,743)
Amortization of acquired above (below) market leases, net (2,581) (5,377) (4,867)
Straight-line ground rent expense 814 918 1,455
Provision for doubtful accounts 0 0 1,049
Net gain on real estate venture transactions (26,718) (2,973) (75)
Total gain on sale of real estate (25,684) (3,045) (289,662)
Loss on early extinguishment of debt 435 0 0
Provision for impairment 4,663 0 0
Loss from unconsolidated real estate ventures, including income distributions 23,522 26,697 18,584
Income tax provision (benefit) 55 47 (224)
Changes in assets and liabilities:      
Accounts receivable 1,328 2,506 (2,031)
Other assets (1,120) (19,325) (5,034)
Accounts payable and accrued expenses 5,405 2,974 14,374
Deferred income, gains and rent 1,567 2,986 (12,149)
Other liabilities 2,500 465 14,557
Net cash provided by operating activities 209,307 190,874 225,806
Cash flows from investing activities:      
Acquisition of properties (3,446) 0 (41,950)
Proceeds from the sale of properties 64,210 10,303 278,114
Proceeds from insurance 0 1,250 0
Proceeds from note receivable 44,300 50,000 0
Issuance of note receivable 0 0 (50,000)
Capital expenditures for tenant improvements (86,774) (56,830) (73,166)
Capital expenditures for redevelopments (87,223) (48,022) (21,664)
Capital expenditures for developments (89,017) (30,269) (65,420)
Advances for the purchase of tenant assets, net of repayments (447) 270 1,488
Investment in unconsolidated real estate ventures (47,428) (31,643) (719)
Deposits for real estate (4,900) (2,550) 0
Capital distributions from unconsolidated real estate ventures 46,898 27,028 9,001
Leasing costs paid (26,762) (19,852) (17,394)
Net cash provided by (used in) investing activities (190,589) (100,315) 18,290
Cash flows from financing activities:      
Repayments of mortgage notes payable 0 0 (94,993)
Proceeds from credit facility borrowings 478,000 154,000 318,000
Repayments of credit facility borrowings (412,500) (131,000) (318,000)
Proceeds from unsecured notes 350,000 0 0
Repayments of unsecured notes (296,134) 0 0
Debt financing costs paid (9,875) 0 0
Exercise of stock options, net 0 (63) 47
Shares used for employee taxes upon vesting of share awards (2,941) (1,762) (1,346)
Partner contributions to consolidated real estate venture 0 2,765 0
Repurchase and retirement of common shares 0 0 (60,000)
Redemption of limited partnership units (4,006) (2,334) 0
Distributions paid to preferred and common partnership units (130,724) (130,255) (131,150)
Net cash used in financing activities (28,631) (109,336) (288,189)
Decrease in cash and cash equivalents and restricted cash (9,913) (18,777) (44,093)
Cash and cash equivalents and restricted cash at beginning of year 28,300 47,077 91,170
Cash and cash equivalents and restricted cash at end of period 18,387 28,300 47,077
Reconciliation of cash and cash equivalents and restricted cash:      
Cash and cash equivalents, beginning of period 27,463 46,344 90,499
Restricted cash, beginning of period 837 733 671
Cash and cash equivalents, end of period 17,551 27,463 46,344
Restricted cash, end of period 836 837 733
Cash and cash equivalents and restricted cash 18,387 28,300 47,077
Supplemental disclosure:      
Cash paid for interest, net of capitalized interest during the years ended December 31, 2022, 2021 and 2020 of $10,517, $8,689 and $4,650 respectively 85,761 72,391 79,498
Cash paid for income taxes 902 785 688
Supplemental disclosure of non-cash activity:      
Dividends and distributions declared but not paid 32,792 32,765 32,706
Extinguishment of debt costs accrued in financing activities 393 0 0
Change in investment in real estate ventures as a result of deconsolidation 107,057 32,761 0
Change in operating real estate from deconsolidation of operating properties (92,009) (30,073) 427,710
Change in investment in real estate ventures from deconsolidation of operating properties 0 0 (296,262)
Change in mortgage notes payable from deconsolidation of operating properties 0 0 (220,271)
Change in other assets as a result of deconsolidation of operating properties (15,048) (2,688) 1,471
Change in capital expenditures financed through accounts payable at period end (6,135) 22,744 (9,949)
Change in capital expenditures financed through retention payable at period end (7,165) (613) 284
BRANDYWINE OPERATING PARTNERSHIP, L.P.      
Cash flows from operating activities:      
Net income 53,992 12,366 307,326
Adjustments to reconcile net income to net cash from operating activities:      
Depreciation and amortization 177,984 178,105 188,283
Amortization of deferred financing costs 3,091 2,836 2,904
Amortization of debt discount/(premium), net (5,254) (1,951) (568)
Amortization of stock compensation costs 8,939 7,130 6,627
Straight-line rent income (13,631) (13,485) (14,743)
Amortization of acquired above (below) market leases, net (2,581) (5,377) (4,867)
Straight-line ground rent expense 814 918 1,455
Provision for doubtful accounts 0 0 1,049
Net gain on real estate venture transactions (26,718) (2,973) (75)
Loss on promoted interest in unconsolidated real estate venture 0 0 0
Total gain on sale of real estate (25,684) (3,045) (289,662)
Loss on early extinguishment of debt 435 0 0
Provision for impairment 4,663 0 0
Loss from unconsolidated real estate ventures, including income distributions 23,522 26,697 18,584
Income tax provision (benefit) 55 47 (224)
Changes in assets and liabilities:      
Accounts receivable 1,328 2,506 (2,031)
Other assets (1,120) (19,325) (5,034)
Accounts payable and accrued expenses 5,405 2,974 14,374
Deferred income, gains and rent 1,567 2,986 (12,149)
Other liabilities 2,500 465 14,557
Net cash provided by operating activities 209,307 190,874 225,806
Cash flows from investing activities:      
Acquisition of properties (3,446) 0 (41,950)
Proceeds from the sale of properties 64,210 10,303 278,114
Proceeds from insurance 0 1,250 0
Proceeds from note receivable 44,300 50,000 0
Issuance of note receivable 0 0 (50,000)
Capital expenditures for tenant improvements (86,774) (56,830) (73,166)
Capital expenditures for redevelopments (87,223) (48,022) (21,664)
Capital expenditures for developments (89,017) (30,269) (65,420)
Advances for the purchase of tenant assets, net of repayments (447) 270 1,488
Investment in unconsolidated real estate ventures (47,428) (31,643) (719)
Deposits for real estate (4,900) (2,550) 0
Capital distributions from unconsolidated real estate ventures 46,898 27,028 9,001
Leasing costs paid (26,762) (19,852) (17,394)
Net cash provided by (used in) investing activities (190,589) (100,315) 18,290
Cash flows from financing activities:      
Repayments of mortgage notes payable 0 0 (94,993)
Proceeds from credit facility borrowings 478,000 154,000 318,000
Repayments of credit facility borrowings (412,500) (131,000) (318,000)
Proceeds from unsecured notes 350,000 0 0
Repayments of unsecured notes (296,134) 0 0
Debt financing costs paid (9,875) 0 0
Exercise of stock options, net 0 (63) 47
Shares used for employee taxes upon vesting of share awards (2,941) (1,762) (1,346)
Partner contributions to consolidated real estate venture 0 2,765 0
Repurchase and retirement of common shares 0 0 (60,000)
Redemption of limited partnership units (4,006) (2,334) 0
Distributions paid to preferred and common partnership units (131,175) (130,942) (131,897)
Net cash used in financing activities (28,631) (109,336) (288,189)
Decrease in cash and cash equivalents and restricted cash (9,913) (18,777) (44,093)
Cash and cash equivalents and restricted cash at beginning of year 28,300 47,077 91,170
Cash and cash equivalents and restricted cash at end of period 18,387 28,300 47,077
Reconciliation of cash and cash equivalents and restricted cash:      
Cash and cash equivalents, beginning of period 27,463 46,344 90,499
Restricted cash, beginning of period 837 733 671
Cash and cash equivalents, end of period 17,551 27,463 46,344
Restricted cash, end of period 836 837 733
Cash and cash equivalents and restricted cash 18,387 28,300 47,077
Supplemental disclosure:      
Cash paid for interest, net of capitalized interest during the years ended December 31, 2022, 2021 and 2020 of $10,517, $8,689 and $4,650 respectively 85,761 72,391 79,498
Cash paid for income taxes 902 785 688
Supplemental disclosure of non-cash activity:      
Dividends and distributions declared but not paid 32,792 32,765 32,706
Extinguishment of debt costs accrued in financing activities 393 0 0
Change in investment in real estate ventures as a result of deconsolidation 107,057 32,761 0
Change in operating real estate from deconsolidation of operating properties (92,009) (30,073) 427,710
Change in investment in real estate ventures from deconsolidation of operating properties 0 0 (296,262)
Change in mortgage notes payable from deconsolidation of operating properties 0 0 (220,271)
Change in other assets as a result of deconsolidation of operating properties (15,048) (2,688) 1,471
Change in capital expenditures financed through accounts payable at period end (6,135) 22,744 (9,949)
Change in capital expenditures financed through retention payable at period end $ (7,165) $ (613) $ 284