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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Cash flows from operating activities:      
Net income (loss) $ 121,859 $ 40,501 $ (30,740)
Adjustments to reconcile net income to net cash from operating activities:      
Depreciation and amortization 179,357 189,676 219,029
Amortization of deferred financing costs 2,435 2,696 4,557
Amortization of debt discount/(premium), net 1,569 1,471 (755)
Amortization of stock compensation costs 4,883 4,310 5,065
Settlement of hedge transaction 0 0 (5,266)
Straight-line rent income (27,115) (28,351) (23,668)
Amortization of acquired above (below) market leases, net (3,071) (6,529) (7,960)
Straight-line ground rent expense 88 88 88
Provision for doubtful accounts 2,207 1,865 2,489
Net gain on real estate venture transactions (80,526) (20,000) (7,418)
Net gain on sale of interests in real estate (32,610) (126,215) (23,515)
Preacquisition cost write-off 0 0 1,299
Net gain from remeasurement of investment in real estate ventures 0 0 (758)
Loss on early extinguishment of debt 3,933 66,590 0
Provision for impairment 3,057 40,517 82,208
Tax credit transaction income 0 0 (19,955)
Other than temporary impairment 4,844 0 0
Real Estate Venture loss in excess of distributions 3,462 12,125 2,034
Deferred financing obligation 0 (679) (1,237)
Income tax benefit (628) 0 0
Changes in assets and liabilities:      
Accounts receivable (6,266) 2,373 (848)
Other assets 1,188 (155) 837
Accounts payable and accrued expenses 4,004 (8,004) 4,083
Deferred income, gains and rent (1,482) 137 (521)
Other liabilities 829 685 (1,894)
Net cash provided by operating activities 182,017 173,101 197,154
Cash flows from investing activities:      
Acquisition of properties (72,523) (20,406) (150,472)
Acquisition of property - 1031 exchange funds applied 0 0 (62,812)
Proceeds from the sale of properties 171,860 784,331 247,228
Sale of property - 1031 exchange funds held in escrow 0 0 62,800
Net proceeds from the contribution of properties to an unconsolidated real estate venture 0 0 50,158
Proceeds from real estate venture sales 145,416 21,022 6,100
Issuance of mortgage note receivable 0 (3,380) 0
Proceeds from repayment of mortgage notes receivable 151 0 88,000
Capital expenditures for tenant improvements (60,586) (51,398) (97,851)
Capital expenditures for redevelopments (34,679) (11,909) (48,367)
Capital expenditures for developments (66,915) (191,184) (179,927)
Advances for the purchase of tenant assets, net of repayments 18 (784) 308
Investment in unconsolidated Real Estate Ventures (6,638) (28,610) (68,549)
Deposits for real estate 573 (746) (878)
Escrowed cash 0 6,992 516
Cash distribution from unconsolidated Real Estate Ventures in excess of cumulative equity income 20,781 13,065 8,557
Leasing costs paid (17,657) (16,083) (21,263)
Net cash provided by (used in) investing activities 79,801 500,910 (166,452)
Cash flows from financing activities:      
Proceeds from mortgage notes payable 0 86,900 130,000
Repayments of mortgage notes payable (4,931) (357,151) (222,836)
Proceeds from unsecured term loan borrowing 0 0 50,000
Proceeds from credit facility borrowings 341,000 195,000 89,000
Repayments of credit facility borrowings (341,000) (195,000) (89,000)
Proceeds from unsecured notes 550,131 0 0
Repayments of unsecured notes (628,590) (149,919) 0
Debt financing costs paid (4,727) (495) (5,202)
Net proceeds from issuance of common shares\units 51,225 0 0
Redemption of preferred shares (100,000) 0 0
Proceeds from the exercise of stock options 1,229 1,286 127
Shares used for employee taxes upon vesting of share awards (674) (879) (2,055)
Partner contributions to consolidated real estate venture 85 108 1,025
Partner distributions from consolidated real estate venture (48) 0 0
Repurchase and retirement of common shares 0 0 (67,320)
Distributions paid to shareholders (116,311) (115,702) (114,328)
Distributions to noncontrolling interest (947) (934) (921)
Net cash used in financing activities (253,558) (536,786) (231,510)
Increase (decrease) in cash and cash equivalents 8,260 137,225 (200,808)
Cash and cash equivalents at beginning of year 193,919 56,694 257,502
Cash and cash equivalents at end of period 202,179 193,919 56,694
Supplemental disclosure:      
Cash paid for interest, net of capitalized interest during the years ended December 31, 2017, 2016 and 2015 of $3,527, $12,835 and $12,150, respectively 83,139 97,843 124,953
Cash paid for income taxes 225 0 0
Supplemental disclosure of non-cash activity:      
Dividends and distributions declared but not paid 32,456 30,032 28,249
Change in investment in real estate ventures as a result of dispositions (64,792) (2,023) 0
Change in investment in real estate ventures related to non-cash disposition of property 0 25,165 (25,127)
Change in operating real estate related to non-cash property disposition 0 0 25,127
Change in real estate investments related to non-cash property acquisition 0 0 (66,324)
Change in investments in joint venture related to non-cash acquisition of property 0 0 66,324
Change in other liabilities from contingent consideration related to a business combination 0 0 1,585
Change in operating real estate from contingent consideration related to a business combination 0 0 (1,585)
Change in other liabilities from a deferred payment related to an asset acquisition 0 0 2,000
Change in operating real estate from a deferred payment related to an asset acquisition 0 0 (2,000)
Change in real estate ventures as a result of other than temporary impairment (4,844) 0 0
Change in operating real estate from deconsolidation of 3141 Fairview Park Drive 0 44,313 0
Change in investment in real estate ventures from deconsolidation of 3141 Fairview Park Drive 0 (12,642) 0
Change in mortgage notes payable from deconsolidation of 3141 Fairview Park Drive 0 (20,582) 0
Change in other liabilities from deconsolidation of 3141 Fairview Park Drive 0 (12,384) 0
Change in capital expenditures financed through accounts payable at period end (6,953) 8,222 (7,654)
Change in capital expenditures financed through retention payable at period end (159) 848 6,104
Change in unfunded tenant allowance 0 0 (273)
BRANDYWINE OPERATING PARTNERSHIP, L.P.      
Cash flows from operating activities:      
Net income (loss) 121,859 40,501 (30,740)
Adjustments to reconcile net income to net cash from operating activities:      
Depreciation and amortization 179,357 189,676 219,029
Amortization of deferred financing costs 2,435 2,696 4,557
Amortization of debt discount/(premium), net 1,569 1,471 (755)
Amortization of stock compensation costs 4,883 4,310 5,065
Settlement of hedge transaction 0 0 (5,266)
Straight-line rent income (27,115) (28,351) (23,668)
Amortization of acquired above (below) market leases, net (3,071) (6,529) (7,960)
Straight-line ground rent expense 88 88 88
Provision for doubtful accounts 2,207 1,865 2,489
Net gain on real estate venture transactions (80,526) (20,000) (7,418)
Net gain on sale of interests in real estate (32,610) (126,215) (23,515)
Preacquisition cost write-off 0 0 1,299
Net gain from remeasurement of investment in real estate ventures 0 0 (758)
Loss on early extinguishment of debt 3,933 66,590 0
Provision for impairment 3,057 40,517 82,208
Tax credit transaction income 0 0 (19,955)
Other than temporary impairment 4,844 0 0
Real Estate Venture loss in excess of distributions 3,462 12,125 2,034
Deferred financing obligation 0 (679) (1,237)
Income tax benefit (628) 0 0
Changes in assets and liabilities:      
Accounts receivable (6,266) 2,373 (848)
Other assets 1,188 (155) 837
Accounts payable and accrued expenses 4,004 (8,004) 4,083
Deferred income, gains and rent (1,482) 137 (521)
Other liabilities 829 685 (1,894)
Net cash provided by operating activities 182,017 173,101 197,154
Cash flows from investing activities:      
Acquisition of properties (72,523) (20,406) (150,472)
Acquisition of property - 1031 exchange funds applied 0 0 (62,812)
Proceeds from the sale of properties 171,860 784,331 247,228
Sale of property - 1031 exchange funds held in escrow 0 0 62,800
Net proceeds from the contribution of properties to an unconsolidated real estate venture 0 0 50,158
Proceeds from real estate venture sales 145,416 21,022 6,100
Issuance of mortgage note receivable 0 (3,380) 0
Proceeds from repayment of mortgage notes receivable 151 0 88,000
Capital expenditures for tenant improvements (60,586) (51,398) (97,851)
Capital expenditures for redevelopments (34,679) (11,909) (48,367)
Capital expenditures for developments (66,915) (191,184) (179,927)
Advances for the purchase of tenant assets, net of repayments 18 (784) 308
Investment in unconsolidated Real Estate Ventures (6,638) (28,610) (68,549)
Deposits for real estate 573 (746) (878)
Escrowed cash 0 6,992 516
Cash distribution from unconsolidated Real Estate Ventures in excess of cumulative equity income 20,781 13,065 8,557
Leasing costs paid (17,657) (16,083) (21,263)
Net cash provided by (used in) investing activities 79,801 500,910 (166,452)
Cash flows from financing activities:      
Proceeds from mortgage notes payable 0 86,900 130,000
Repayments of mortgage notes payable (4,931) (357,151) (222,836)
Proceeds from unsecured term loan borrowing 0 0 50,000
Proceeds from credit facility borrowings 341,000 195,000 89,000
Repayments of credit facility borrowings (341,000) (195,000) (89,000)
Proceeds from unsecured notes 550,131 0 0
Repayments of unsecured notes (628,590) (149,919) 0
Debt financing costs paid (4,727) (495) (5,202)
Net proceeds from issuance of common shares\units 51,225 0 0
Redemption of preferred shares (100,000) 0 0
Proceeds from the exercise of stock options 1,229 1,286 127
Shares used for employee taxes upon vesting of share awards (674) (879) (2,055)
Partner contributions to consolidated real estate venture 85 108 1,025
Partner distributions from consolidated real estate venture (48) 0 0
Repurchase and retirement of common shares 0 0 (67,320)
Distributions paid to shareholders (117,258) (116,636) (115,249)
Net cash used in financing activities (253,558) (536,786) (231,510)
Increase (decrease) in cash and cash equivalents 8,260 137,225 (200,808)
Cash and cash equivalents at beginning of year 193,919 56,694 257,502
Cash and cash equivalents at end of period 202,179 193,919 56,694
Supplemental disclosure:      
Cash paid for interest, net of capitalized interest during the years ended December 31, 2017, 2016 and 2015 of $3,527, $12,835 and $12,150, respectively 83,139 97,843 124,953
Cash paid for income taxes 225 0 0
Supplemental disclosure of non-cash activity:      
Dividends and distributions declared but not paid 32,456 30,032 28,249
Change in investment in real estate ventures as a result of dispositions (64,792) (2,023) 0
Change in investment in real estate ventures related to non-cash disposition of property 0 25,165 (25,127)
Change in operating real estate related to non-cash property disposition 0 0 25,127
Change in real estate investments related to non-cash property acquisition 0 0 (66,324)
Change in investments in joint venture related to non-cash acquisition of property 0 0 66,324
Change in other liabilities from contingent consideration related to a business combination 0 0 1,585
Change in operating real estate from contingent consideration related to a business combination 0 0 (1,585)
Change in other liabilities from a deferred payment related to an asset acquisition 0 0 2,000
Change in operating real estate from a deferred payment related to an asset acquisition 0 0 (2,000)
Change in real estate ventures as a result of other than temporary impairment (4,844) 0 0
Change in operating real estate from deconsolidation of 3141 Fairview Park Drive 0 44,313 0
Change in investment in real estate ventures from deconsolidation of 3141 Fairview Park Drive 0 (12,642) 0
Change in mortgage notes payable from deconsolidation of 3141 Fairview Park Drive 0 (20,582) 0
Change in other liabilities from deconsolidation of 3141 Fairview Park Drive 0 (12,384) 0
Change in capital expenditures financed through accounts payable at period end (6,953) 8,222 (7,654)
Change in capital expenditures financed through retention payable at period end (159) 848 6,104
Change in unfunded tenant allowance $ 0 $ 0 $ (273)