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Consolidated Statements of Cash Flow
$ in Thousands
3 Months Ended
Mar. 31, 2022
USD ($)
Mar. 31, 2021
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 12,466 $ 7,974
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 23,762 23,040
Amortization of deferred financing costs and mortgage premiums, net 543 591
Straight-line rent adjustment (451) (18)
Amortization of above and below market rent (3,057) (2,232)
Amortization relating to stock based compensation 2,572 2,063
Provisions for tenant credit losses 628 1,578
Other noncash interest (income) expense (14) 73
Change in operating assets and liabilities:    
Tenant and other receivables 777 (2,160)
Prepaid expenses 1,543 1,506
Accounts payable and accrued expenses 6,795 11,439
Other assets and liabilities, net 2,207 (304)
Net cash provided by operating activities 47,771 43,550
CASH FLOWS FROM INVESTING ACTIVITIES    
Improvements to properties (16,031) (7,465)
Deposits on real estate acquisitions, net (1,000) 0
Proceeds on repayment of mortgage note receivable 22 20
Net cash used in investing activities (17,009) (7,445)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal repayments on mortgages (23,639) (152)
Proceeds from draws on credit facility 24,000 0
Payments on credit facility (14,000) (34,000)
Distributions to OP Unitholders (1,840) 0
Proceeds from the sale of common stock 14,211 0
Registration expenditures (351) (15)
Dividends paid to common stockholders (22,050) (105)
Common shares issued under the Equity Incentive Plan 302 428
Shares withheld for employee taxes (2,405) (1,905)
Net cash used in financing activities (25,772) (35,749)
Net increase in cash, cash equivalents and restricted cash 4,990 356
Cash, cash equivalents and restricted cash at beginning of period 15,363 6,636
Cash, cash equivalents and restricted cash at end of period 20,353 6,992
Other non-cash investing and financing activities increase (decrease):    
Interest rate swap liabilities (2,218) (1,499)
Accrued real estate improvement costs 5,840 4,707
Equity redemption of OP Units 978 1,439
Dividends and distributions payable 17,578 14,318
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 17,867 4,843
Restricted cash 2,486 2,149
Total cash, cash equivalents and restricted cash shown in Statements of Cash Flows 20,353 6,992
Retail Opportunity Investments Partnership L.P.    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income 12,466 7,974
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 23,762 23,040
Amortization of deferred financing costs and mortgage premiums, net 543 591
Straight-line rent adjustment (451) (18)
Amortization of above and below market rent (3,057) (2,232)
Amortization relating to stock based compensation 2,572 2,063
Provisions for tenant credit losses 628 1,578
Other noncash interest (income) expense (14) 73
Change in operating assets and liabilities:    
Tenant and other receivables 777 (2,160)
Prepaid expenses 1,543 1,506
Accounts payable and accrued expenses 6,795 11,439
Other assets and liabilities, net 2,207 (304)
Net cash provided by operating activities 47,771 43,550
CASH FLOWS FROM INVESTING ACTIVITIES    
Improvements to properties (16,031) (7,465)
Deposits on real estate acquisitions, net (1,000) 0
Proceeds on repayment of mortgage note receivable 22 20
Net cash used in investing activities (17,009) (7,445)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal repayments on mortgages (23,639) (152)
Proceeds from draws on credit facility 24,000 0
Payments on credit facility (14,000) (34,000)
Distributions to OP Unitholders (23,890) (105)
Proceeds from the sale of common stock 14,211 0
Registration expenditures (351) (15)
Common shares issued under the Equity Incentive Plan 302 428
Shares withheld for employee taxes (2,405) (1,905)
Net cash used in financing activities (25,772) (35,749)
Net increase in cash, cash equivalents and restricted cash 4,990 356
Cash, cash equivalents and restricted cash at beginning of period 15,363 6,636
Cash, cash equivalents and restricted cash at end of period 20,353 6,992
Other non-cash investing and financing activities increase (decrease):    
Interest rate swap liabilities (2,218) (1,499)
Accrued real estate improvement costs 5,840 4,707
Equity redemption of OP Units 978 1,439
Dividends and distributions payable 17,578 14,318
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 17,867 4,843
Restricted cash 2,486 2,149
Total cash, cash equivalents and restricted cash shown in Statements of Cash Flows $ 20,353 $ 6,992