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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 36,430 $ 25,092 $ 21,050
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 88,359 70,957 58,435
Amortization of deferred financing costs and mortgage premiums, net 2,088 662 (432)
Straight-line rent adjustment (4,560) (5,013) (3,795)
Amortization of above and below market rent (13,847) (9,890) (6,945)
Amortization relating to stock based compensation 4,916 4,684 3,662
Provisions for tenant credit losses 1,805 1,984 2,316
Other noncash interest expense 2,139 2,139 1,848
Gain on sale of real estate 0 0 (4,869)
Settlement of interest rate swap agreements 0 0 (3,230)
Change in operating assets and liabilities:      
Restricted cash 66 264 190
Tenant and other receivables (4,412) (2,599) (1,605)
Prepaid expenses (1,363) 501 (1,106)
Accounts payable and accrued expenses 4,417 512 (1,164)
Other assets and liabilities, net (1,356) (2,376) 852
Net cash provided by operating activities 114,682 86,917 65,207
CASH FLOWS FROM INVESTING ACTIVITIES      
Investments in real estate (284,867) (313,623) (398,205)
Proceeds from sale of real estate 0 0 27,622
Improvements to properties (40,758) (27,515) (26,142)
Deposits on real estate acquisitions, net 500 4,000 (3,725)
Construction escrows and other 35 23 594
Net cash used in investing activities (325,090) (337,115) (399,856)
CASH FLOWS FROM FINANCING ACTIVITIES      
Principal repayments on mortgages (7,816) (84,308) (21,982)
Proceeds from new mortgage loan 0 35,500 0
Proceeds from term loan 0 300,000 0
Payments on term loan 0 0 (200,000)
Proceeds from draws on credit facility 332,500 430,000 549,300
Payments on credit facility (370,000) (451,000) (449,750)
Proceeds from the issuance of OP Units upon exercise of warrants 0 0 70,723
Issuance of promissory note receivable 0 (6,710) 0
Proceeds on repayment of promissory note receivable 6,710 0 0
Redemption of OP Units (38,820) 0 (3,280)
Distributions to OP Unitholders (8,363) (2,764) (2,009)
Deferred financing and other costs (266) (1,849) (3,188)
Proceeds from the issuance of OP Units in connection with issuance of common stock 184,881 101,293 214,906
Registration expenditures (7,097) (4,739) (9,513)
Dividends paid to common shareholders (75,672) (65,837) (53,574)
Repurchase of common stock (1,368) (1,317) (631)
Net cash provided by financing activities 214,689 248,269 337,502
Net increase (decrease) in cash and cash equivalents 4,281 (1,929) 2,853
Cash and cash equivalents at beginning of period 8,844 10,773 7,920
Cash and cash equivalents at end of period 13,125 8,844 10,773
Supplemental disclosure of cash activities:      
Cash paid on gross receipts and income for federal and state purposes 206 241 331
Interest paid 34,275 31,996 26,006
Other non-cash investing and financing activities – increase (decrease):      
Issuance of OP Units in connection with acquisitions 46,140 150,315 16,343
Assumed mortgages in connection with acquisitions 17,618 19,024 0
Intangible lease liabilities 32,615 37,480 44,264
Interest rate swap asset 875 0 (1,948)
Interest rate swap liabilities 0 0 (2,529)
Accrued real estate improvement costs 601 590 1,372
Equity redemption of OP Units 15,990 3,184 0
Retail Opportunity Investments Partnership L.P.      
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income 36,430 25,092 21,050
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 88,359 70,957 58,435
Amortization of deferred financing costs and mortgage premiums, net 2,088 662 (432)
Straight-line rent adjustment (4,560) (5,013) (3,795)
Amortization of above and below market rent (13,847) (9,890) (6,945)
Amortization relating to stock based compensation 4,916 4,684 3,662
Provisions for tenant credit losses 1,805 1,984 2,316
Other noncash interest expense 2,139 2,139 1,848
Gain on sale of real estate 0 0 (4,869)
Settlement of interest rate swap agreements 0 0 (3,230)
Change in operating assets and liabilities:      
Restricted cash 66 264 190
Tenant and other receivables (4,412) (2,599) (1,605)
Prepaid expenses (1,363) 501 (1,106)
Accounts payable and accrued expenses 4,417 512 (1,164)
Other assets and liabilities, net (1,356) (2,376) 852
Net cash provided by operating activities 114,682 86,917 65,207
CASH FLOWS FROM INVESTING ACTIVITIES      
Investments in real estate (284,867) (313,623) (398,205)
Proceeds from sale of real estate 0 0 27,622
Improvements to properties (40,758) (27,515) (26,142)
Deposits on real estate acquisitions, net 500 4,000 (3,725)
Construction escrows and other 35 23 594
Net cash used in investing activities (325,090) (337,115) (399,856)
CASH FLOWS FROM FINANCING ACTIVITIES      
Principal repayments on mortgages (7,816) (84,308) (21,982)
Proceeds from new mortgage loan 0 35,500 0
Proceeds from term loan 0 300,000 0
Payments on term loan 0 0 (200,000)
Proceeds from draws on credit facility 332,500 430,000 549,300
Payments on credit facility (370,000) (451,000) (449,750)
Proceeds from the issuance of OP Units upon exercise of warrants 0 0 70,723
Issuance of promissory note receivable 0 (6,710) 0
Proceeds on repayment of promissory note receivable 6,710 0 0
Redemption of OP Units (38,820) 0 (3,280)
Distributions to OP Unitholders (84,035) (68,601) (55,583)
Deferred financing and other costs (266) (1,849) (3,188)
Proceeds from the issuance of OP Units in connection with issuance of common stock 184,881 101,293 214,906
Registration expenditures (7,097) (4,739) (9,513)
Repurchase of common stock (1,368) (1,317) (631)
Net cash provided by financing activities 214,689 248,269 337,502
Net increase (decrease) in cash and cash equivalents 4,281 (1,929) 2,853
Cash and cash equivalents at beginning of period 8,844 10,773 7,920
Cash and cash equivalents at end of period 13,125 8,844 10,773
Supplemental disclosure of cash activities:      
Cash paid on gross receipts and income for federal and state purposes 206 241 331
Interest paid 34,275 31,996 26,006
Other non-cash investing and financing activities – increase (decrease):      
Issuance of OP Units in connection with acquisitions 46,140 150,315 16,343
Assumed mortgages in connection with acquisitions 17,618 19,024 0
Intangible lease liabilities 32,615 37,480 44,264
Interest rate swap asset 875 0 (1,948)
Interest rate swap liabilities 0 0 (2,529)
Accrued real estate improvement costs 601 590 1,372
Equity redemption of OP Units 15,990 3,184 0
Senior Notes Due 2026      
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from issuance of senior notes 200,000 0 0
Senior Notes Due 2024      
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from issuance of senior notes 0 0 246,500
Senior Notes | Senior Notes Due 2026 | Retail Opportunity Investments Partnership L.P.      
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from issuance of senior notes 200,000 0 0
Senior Notes | Senior Notes Due 2024 | Retail Opportunity Investments Partnership L.P.      
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from issuance of senior notes $ 0 $ 0 $ 246,500