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Consolidated Statements of Cash Flow - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 53,389 $ 28,143
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 78,518 77,280
Amortization of deferred financing costs and mortgage discounts and premiums, net 2,723 2,879
Straight-line rent adjustment (246) (1,688)
Amortization of above-market and below-market rent, net (11,965) (7,591)
Amortization relating to stock based compensation 9,602 9,582
Provisions for tenant credit losses 2,061 2,876
Other noncash interest income 0 (15)
Gain on sale of real estate (26,656) 0
Change in operating assets and liabilities:    
Tenant and other receivables (2,116) (2,789)
Prepaid expenses 1,396 4,330
Accounts payable and accrued expenses 14,361 14,012
Other assets and liabilities, net 603 (2,761)
Net cash provided by operating activities 121,670 124,258
CASH FLOWS FROM INVESTING ACTIVITIES    
Investments in real estate (71,063) 0
Proceeds from sale of real estate 66,383 0
Improvements to properties (32,804) (33,059)
Deposits on real estate acquisitions, net (200) 500
Proceeds on repayment of mortgage note receivable 72 68
Net cash used in investing activities (37,612) (32,491)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal repayments on mortgages (26,527) (512)
Repayments of Unsecured Debt 0 (100,000)
Proceeds from draws on credit facility 180,000 71,000
Payments on credit facility (120,000) (159,000)
Proceeds from issuance of Senior Notes 0 348,289
Distributions to OP Unitholders (3,347) (2,383)
Deferred financing and other costs 0 (7,851)
Registration expenditures (93) (50)
Dividends paid to common stockholders (57,639) (37,948)
Common shares issued under the Equity Incentive Plan 0 32
Shares withheld for employee taxes (3,532) (3,291)
Net cash (used in) provided by financing activities (31,138) 108,286
Net increase in cash, cash equivalents and restricted cash 52,920 200,053
Cash, cash equivalents and restricted cash at beginning of period 8,418 7,459
Cash, cash equivalents and restricted cash at end of period 61,338 207,512
Other non-cash investing and financing activities:    
Increase in intangible lease liabilities 5,884 0
(Decrease) increase in interest rate swap asset (592) 1,346
Accrued real estate improvement costs 3,755 9,758
Equity redemption of OP Units 18,529 13,389
Dividends and distributions payable 21,233 20,957
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 61,338 205,260
Restricted cash 0 2,252
Total cash, cash equivalents and restricted cash shown in Statements of Cash Flows 61,338 207,512
Retail Opportunity Investments Partnership L.P.    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income 53,389 28,143
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 78,518 77,280
Amortization of deferred financing costs and mortgage discounts and premiums, net 2,723 2,879
Straight-line rent adjustment (246) (1,688)
Amortization of above-market and below-market rent, net (11,965) (7,591)
Amortization relating to stock based compensation 9,602 9,582
Provisions for tenant credit losses 2,061 2,876
Other noncash interest income 0 (15)
Gain on sale of real estate (26,656) 0
Change in operating assets and liabilities:    
Tenant and other receivables (2,116) (2,789)
Prepaid expenses 1,396 4,330
Accounts payable and accrued expenses 14,361 14,012
Other assets and liabilities, net 603 (2,761)
Net cash provided by operating activities 121,670 124,258
CASH FLOWS FROM INVESTING ACTIVITIES    
Investments in real estate (71,063) 0
Proceeds from sale of real estate 66,383 0
Improvements to properties (32,804) (33,059)
Deposits on real estate acquisitions, net (200) 500
Proceeds on repayment of mortgage note receivable 72 68
Net cash used in investing activities (37,612) (32,491)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal repayments on mortgages (26,527) (512)
Repayments of Unsecured Debt 0 (100,000)
Proceeds from draws on credit facility 180,000 71,000
Payments on credit facility (120,000) (159,000)
Proceeds from issuance of Senior Notes 0 348,289
Distributions to OP Unitholders (60,986) (40,331)
Deferred financing and other costs 0 (7,851)
Registration expenditures (93) (50)
Common shares issued under the Equity Incentive Plan 0 32
Shares withheld for employee taxes (3,532) (3,291)
Net cash (used in) provided by financing activities (31,138) 108,286
Net increase in cash, cash equivalents and restricted cash 52,920 200,053
Cash, cash equivalents and restricted cash at beginning of period 8,418 7,459
Cash, cash equivalents and restricted cash at end of period 61,338 207,512
Other non-cash investing and financing activities:    
Increase in intangible lease liabilities 5,884 0
(Decrease) increase in interest rate swap asset (592) 1,346
Accrued real estate improvement costs 3,755 9,758
Equity redemption of OP Units 18,529 13,389
Dividends and distributions payable 21,233 20,957
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 61,338 205,260
Restricted cash 0 2,252
Total cash, cash equivalents and restricted cash shown in Statements of Cash Flows $ 61,338 $ 207,512