XML 19 R9.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 19,926 $ 20,448
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 50,548 46,703
Amortization of deferred financing costs and mortgage premiums, net 926 1,067
Straight-line rent adjustment (2,881) (2,340)
Amortization of above and below market rent (7,218) (9,319)
Amortization relating to stock based compensation 3,419 2,873
Provisions for tenant credit losses 789 979
Other noncash interest expense 1,070 1,070
Change in operating assets and liabilities:    
Tenant and other receivables 3,254 535
Prepaid expenses 1,252 2,150
Accounts payable and accrued expenses (2,925) (1,393)
Other assets and liabilities, net (1,248) 977
Net cash provided by operating activities 66,912 63,750
CASH FLOWS FROM INVESTING ACTIVITIES    
Investments in real estate (39,176) (168,672)
Improvements to properties (21,662) (18,760)
Deposits on real estate acquisitions, net 500 (5,000)
Net cash used in investing activities (60,338) (192,432)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal repayments on mortgages (10,493) (8,498)
Proceeds from draws on credit facility 110,000 193,000
Payments on credit facility (61,500) (10,000)
Redemption of OP Units (560) (150)
Deferred financing and other costs 0 (3)
Proceeds from the sale of common stock 1,508 0
Registration expenditures (118) (348)
Distributions to OP Unitholders (4,553) (4,349)
Dividends paid to common shareholders (44,045) (41,284)
Common shares/OP Units issued under the Equity Incentive Plan 0 43
Shares withheld for employee taxes (1,400) (1,571)
Net cash (used in) provided by financing activities (11,161) 126,840
Net decrease in cash, cash equivalents and restricted cash (4,587) (1,842)
Cash, cash equivalents and restricted cash at beginning of period 16,965 13,250
Cash, cash equivalents and restricted cash at end of period 12,378 11,408
Other non-cash investing and financing activities:    
Issuance of OP Units in connection with acquisitions 0 3,559
Intangible lease liabilities 925 14,355
Interest rate swap asset 4,309 80
Accrued real estate improvement costs (1,074) 2,822
Redemption / Exchange of OP Units 0 3,202
Reconciliation of cash, cash equivalents and restricted cash [Abstract]    
Cash and cash equivalents 10,958 11,408
Total cash, cash equivalents and restricted cash shown in Statements of Cash Flow 16,965 13,250
Retail Opportunity Investments Partnership L.P.    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income 19,926 20,448
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 50,548 46,703
Amortization of deferred financing costs and mortgage premiums, net 926 1,067
Straight-line rent adjustment (2,881) (2,340)
Amortization of above and below market rent (7,218) (9,319)
Amortization relating to stock based compensation 3,419 2,873
Provisions for tenant credit losses 789 979
Other noncash interest expense 1,070 1,070
Change in operating assets and liabilities:    
Tenant and other receivables 3,254 535
Prepaid expenses 1,252 2,150
Accounts payable and accrued expenses (2,925) (1,393)
Other assets and liabilities, net (1,248) 977
Net cash provided by operating activities 66,912 63,750
CASH FLOWS FROM INVESTING ACTIVITIES    
Investments in real estate (39,176) (168,672)
Improvements to properties (21,662) (18,760)
Deposits on real estate acquisitions, net 500 (5,000)
Net cash used in investing activities (60,338) (192,432)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal repayments on mortgages (10,493) (8,498)
Proceeds from draws on credit facility 110,000 193,000
Payments on credit facility (61,500) (10,000)
Redemption of OP Units (560) (150)
Deferred financing and other costs 0 (3)
Proceeds from the sale of common stock 1,508 0
Registration expenditures (118) (348)
Distributions to OP Unitholders (48,598) (45,633)
Common shares/OP Units issued under the Equity Incentive Plan 0 43
Shares withheld for employee taxes (1,400) (1,571)
Net cash (used in) provided by financing activities (11,161) 126,840
Net decrease in cash, cash equivalents and restricted cash (4,587) (1,842)
Cash, cash equivalents and restricted cash at beginning of period 16,965 13,250
Cash, cash equivalents and restricted cash at end of period 12,378 11,408
Other non-cash investing and financing activities:    
Issuance of OP Units in connection with acquisitions 0 3,559
Intangible lease liabilities 925 14,355
Interest rate swap asset 4,309 80
Accrued real estate improvement costs (1,074) 2,822
Redemption / Exchange of OP Units 0 3,202
Reconciliation of cash, cash equivalents and restricted cash [Abstract]    
Cash and cash equivalents 10,958 11,408
Total cash, cash equivalents and restricted cash shown in Statements of Cash Flow $ 16,965 $ 13,250