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Consolidated Statements of Cash Flow - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 11,665 $ 8,696
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 26,269 25,104
Amortization of deferred financing costs and mortgage discounts and premiums, net 876 742
Straight-line rent adjustment (192) (347)
Amortization of above-market and below-market rent, net (6,657) (2,864)
Amortization relating to stock based compensation 2,787 2,927
Provisions for tenant credit losses 767 1,023
Other noncash interest income 0 (14)
Change in operating assets and liabilities:    
Tenant and other receivables (240) (2,503)
Prepaid expenses (1,544) 1,738
Accounts payable and accrued expenses 11,489 9,278
Other assets and liabilities, net (2,497) 667
Net cash provided by operating activities 42,723 44,447
CASH FLOWS FROM INVESTING ACTIVITIES    
Investments in real estate (106) 0
Improvements to properties (10,636) (8,026)
Deposit on real estate acquisition (5,000) 0
Proceeds on repayment of mortgage note receivable 24 22
Net cash used in investing activities (15,718) (8,004)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal repayments on mortgages (177) (174)
Proceeds from draws on credit facility 23,000 2,000
Payments on credit facility (30,000) (23,000)
Distributions to OP Unitholders (1,116) 0
Deferred financing and other costs 0 (5,604)
Registration expenditures (33) (10)
Dividends paid to common stockholders (19,404) (297)
Common shares issued under the Equity Incentive Plan 0 32
Shares withheld for employee taxes (3,532) (3,181)
Net cash used in financing activities (31,262) (30,234)
Net (decrease) increase in cash, cash equivalents and restricted cash (4,257) 6,209
Cash, cash equivalents and restricted cash at beginning of period 8,418 7,459
Cash, cash equivalents and restricted cash at end of period 4,161 13,668
Other non-cash investing and financing activities:    
Increase in intangible lease liabilities 2,932 0
(Decrease) increase in interest rate swap asset (40) 211
Increase in interest rate swap liability 0 203
Accrued real estate improvement costs 4,265 5,937
Dividends and distributions payable 20,899 20,714
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 1,768 11,536
Restricted cash 2,393 2,132
Total cash, cash equivalents and restricted cash shown in Statements of Cash Flows 4,161 13,668
Retail Opportunity Investments Partnership L.P.    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income 11,665 8,696
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 26,269 25,104
Amortization of deferred financing costs and mortgage discounts and premiums, net 876 742
Straight-line rent adjustment (192) (347)
Amortization of above-market and below-market rent, net (6,657) (2,864)
Amortization relating to stock based compensation 2,787 2,927
Provisions for tenant credit losses 767 1,023
Other noncash interest income 0 (14)
Change in operating assets and liabilities:    
Tenant and other receivables (240) (2,503)
Prepaid expenses (1,544) 1,738
Accounts payable and accrued expenses 11,489 9,278
Other assets and liabilities, net (2,497) 667
Net cash provided by operating activities 42,723 44,447
CASH FLOWS FROM INVESTING ACTIVITIES    
Investments in real estate (106) 0
Improvements to properties (10,636) (8,026)
Deposit on real estate acquisition (5,000) 0
Proceeds on repayment of mortgage note receivable 24 22
Net cash used in investing activities (15,718) (8,004)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal repayments on mortgages (177) (174)
Proceeds from draws on credit facility 23,000 2,000
Payments on credit facility (30,000) (23,000)
Distributions to OP Unitholders (20,520) (297)
Deferred financing and other costs 0 (5,604)
Registration expenditures (33) (10)
Common shares issued under the Equity Incentive Plan 0 32
Shares withheld for employee taxes (3,532) (3,181)
Net cash used in financing activities (31,262) (30,234)
Net (decrease) increase in cash, cash equivalents and restricted cash (4,257) 6,209
Cash, cash equivalents and restricted cash at beginning of period 8,418 7,459
Cash, cash equivalents and restricted cash at end of period 4,161 13,668
Other non-cash investing and financing activities:    
Increase in intangible lease liabilities 2,932 0
(Decrease) increase in interest rate swap asset (40) 211
Increase in interest rate swap liability 0 203
Accrued real estate improvement costs 4,265 5,937
Dividends and distributions payable 20,899 20,714
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 1,768 11,536
Restricted cash 2,393 2,132
Total cash, cash equivalents and restricted cash shown in Statements of Cash Flows $ 4,161 $ 13,668