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Consolidated Statements of Cash Flow - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 8,696 $ 12,466
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 25,104 23,762
Amortization of deferred financing costs and mortgage discounts and premiums, net 742 543
Straight-line rent adjustment (347) (451)
Amortization of above and below market rent (2,864) (3,057)
Amortization relating to stock based compensation 2,927 2,572
Provisions for tenant credit losses 1,023 628
Other noncash interest income (14) (14)
Change in operating assets and liabilities:    
Tenant and other receivables (2,503) 777
Prepaid expenses 1,738 1,543
Accounts payable and accrued expenses 9,278 6,795
Other assets and liabilities, net 667 2,207
Net cash provided by operating activities 44,447 47,771
CASH FLOWS FROM INVESTING ACTIVITIES    
Improvements to properties (8,026) (16,031)
Deposits on real estate acquisitions, net 0 (1,000)
Proceeds on repayment of mortgage note receivable 22 22
Net cash used in investing activities (8,004) (17,009)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal repayments on mortgages (174) (23,639)
Proceeds from draws on credit facility 2,000 24,000
Payments on credit facility (23,000) (14,000)
Distributions to OP Unitholders 0 (1,840)
Deferred financing and other costs (5,604) 0
Proceeds from the sale of common stock 0 14,211
Registration expenditures (10) (351)
Dividends paid to common stockholders (297) (22,050)
Common shares issued under the Equity Incentive Plan 32 302
Shares withheld for employee taxes (3,181) (2,405)
Net cash used in financing activities (30,234) (25,772)
Net increase in cash, cash equivalents and restricted cash 6,209 4,990
Cash, cash equivalents and restricted cash at beginning of period 7,459 15,363
Cash, cash equivalents and restricted cash at end of period 13,668 20,353
Other non-cash investing and financing activities increase (decrease):    
Interest rate swap asset 211 0
Interest rate swap liability 203 (2,218)
Accrued real estate improvement costs 5,937 5,840
Equity redemption of OP Units   978
Dividends and distributions payable 20,714 17,578
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 11,536 17,867
Restricted cash 2,132 2,486
Total cash, cash equivalents and restricted cash shown in Statements of Cash Flows 13,668 20,353
Retail Opportunity Investments Partnership L.P.    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income 8,696 12,466
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 25,104 23,762
Amortization of deferred financing costs and mortgage discounts and premiums, net 742 543
Straight-line rent adjustment (347) (451)
Amortization of above and below market rent (2,864) (3,057)
Amortization relating to stock based compensation 2,927 2,572
Provisions for tenant credit losses 1,023 628
Other noncash interest income (14) (14)
Change in operating assets and liabilities:    
Tenant and other receivables (2,503) 777
Prepaid expenses 1,738 1,543
Accounts payable and accrued expenses 9,278 6,795
Other assets and liabilities, net 667 2,207
Net cash provided by operating activities 44,447 47,771
CASH FLOWS FROM INVESTING ACTIVITIES    
Improvements to properties (8,026) (16,031)
Deposits on real estate acquisitions, net 0 (1,000)
Proceeds on repayment of mortgage note receivable 22 22
Net cash used in investing activities (8,004) (17,009)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal repayments on mortgages (174) (23,639)
Proceeds from draws on credit facility 2,000 24,000
Payments on credit facility (23,000) (14,000)
Distributions to OP Unitholders (297) (23,890)
Deferred financing and other costs (5,604) 0
Proceeds from the sale of common stock 0 14,211
Registration expenditures (10) (351)
Common shares issued under the Equity Incentive Plan 32 302
Shares withheld for employee taxes (3,181) (2,405)
Net cash used in financing activities (30,234) (25,772)
Net increase in cash, cash equivalents and restricted cash 6,209 4,990
Cash, cash equivalents and restricted cash at beginning of period 7,459 15,363
Cash, cash equivalents and restricted cash at end of period 13,668 20,353
Other non-cash investing and financing activities increase (decrease):    
Interest rate swap asset 211 0
Interest rate swap liability 203 (2,218)
Accrued real estate improvement costs 5,937 5,840
Equity redemption of OP Units   978
Dividends and distributions payable 20,714 17,578
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 11,536 17,867
Restricted cash 2,132 2,486
Total cash, cash equivalents and restricted cash shown in Statements of Cash Flows $ 13,668 $ 20,353