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Consolidated Statements of Cash Flow - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 19,214 $ 24,780
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 50,230 48,112
Amortization of deferred financing costs and mortgage discounts and premiums, net 1,836 1,213
Straight-line rent adjustment (1,326) (1,366)
Amortization of above and below market rent (5,473) (6,311)
Amortization relating to stock based compensation 6,357 5,600
Provisions for tenant credit losses 2,009 849
Other noncash interest income (15) (28)
Change in operating assets and liabilities:    
Tenant and other receivables (618) 3,486
Prepaid expenses 3,707 3,387
Accounts payable and accrued expenses (3,124) (4,574)
Other assets and liabilities, net 375 2,332
Net cash provided by operating activities 73,172 77,480
CASH FLOWS FROM INVESTING ACTIVITIES    
Investments in real estate 0 (60,205)
Improvements to properties (19,132) (29,074)
Deposits on real estate acquisitions, net 500 0
Proceeds on repayment of mortgage note receivable 45 44
Net cash used in investing activities (18,587) (89,235)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal repayments on mortgages (342) (23,801)
Proceeds from draws on credit facility 48,000 94,000
Payments on credit facility (73,000) (48,000)
Distributions to OP Unitholders (1,267) (2,970)
Deferred financing and other costs (5,716) 0
Proceeds from the sale of common stock 0 25,199
Registration expenditures (46) (512)
Dividends paid to common stockholders (19,049) (38,059)
Common shares issued under the Equity Incentive Plan 32 302
Shares withheld for employee taxes (3,291) (2,405)
Net cash (used in) provided by financing activities (54,679) 3,754
Net decrease in cash, cash equivalents and restricted cash (94) (8,001)
Cash, cash equivalents and restricted cash at beginning of period 7,459 15,363
Cash, cash equivalents and restricted cash at end of period 7,365 7,362
Other non-cash investing and financing activities:    
Increase in intangible lease liabilities 0 12,959
Increase in interest rate swap asset 1,417 63
Decrease in interest rate swap liability 0 (3,336)
Accrued real estate improvement costs 7,426 8,117
Equity redemption of OP Units 13,389 1,895
Dividends and distributions payable 20,868 17,830
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 5,296 5,632
Restricted cash 2,069 1,730
Total cash, cash equivalents and restricted cash shown in Statements of Cash Flows 7,365 7,362
Retail Opportunity Investments Partnership L.P.    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income 19,214 24,780
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 50,230 48,112
Amortization of deferred financing costs and mortgage discounts and premiums, net 1,836 1,213
Straight-line rent adjustment (1,326) (1,366)
Amortization of above and below market rent (5,473) (6,311)
Amortization relating to stock based compensation 6,357 5,600
Provisions for tenant credit losses 2,009 849
Other noncash interest income (15) (28)
Change in operating assets and liabilities:    
Tenant and other receivables (618) 3,486
Prepaid expenses 3,707 3,387
Accounts payable and accrued expenses (3,124) (4,574)
Other assets and liabilities, net 375 2,332
Net cash provided by operating activities 73,172 77,480
CASH FLOWS FROM INVESTING ACTIVITIES    
Investments in real estate 0 (60,205)
Improvements to properties (19,132) (29,074)
Deposits on real estate acquisitions, net 500 0
Proceeds on repayment of mortgage note receivable 45 44
Net cash used in investing activities (18,587) (89,235)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal repayments on mortgages (342) (23,801)
Proceeds from draws on credit facility 48,000 94,000
Payments on credit facility (73,000) (48,000)
Distributions to OP Unitholders (20,316) (41,029)
Deferred financing and other costs (5,716) 0
Proceeds from the sale of common stock 0 25,199
Registration expenditures (46) (512)
Common shares issued under the Equity Incentive Plan 32 302
Shares withheld for employee taxes (3,291) (2,405)
Net cash (used in) provided by financing activities (54,679) 3,754
Net decrease in cash, cash equivalents and restricted cash (94) (8,001)
Cash, cash equivalents and restricted cash at beginning of period 7,459 15,363
Cash, cash equivalents and restricted cash at end of period 7,365 7,362
Other non-cash investing and financing activities:    
Increase in intangible lease liabilities 0 12,959
Increase in interest rate swap asset 1,417 63
Decrease in interest rate swap liability 0 (3,336)
Accrued real estate improvement costs 7,426 8,117
Equity redemption of OP Units 13,389 1,895
Dividends and distributions payable 20,868 17,830
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 5,296 5,632
Restricted cash 2,069 1,730
Total cash, cash equivalents and restricted cash shown in Statements of Cash Flows $ 7,365 $ 7,362