XML 20 R9.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows
$ in Thousands
3 Months Ended
Mar. 31, 2017
USD ($)
Mar. 31, 2016
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 11,251 $ 8,925
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 23,058 20,933
Amortization of deferred financing costs and mortgage premiums, net 532 536
Straight-line rent adjustment (1,066) (1,170)
Amortization of above and below market rent (6,049) (4,135)
Amortization relating to stock based compensation 1,217 1,082
Provisions for tenant credit losses 636 386
Other noncash interest expense 535 535
Change in operating assets and liabilities:    
Restricted cash (38) (63)
Tenant and other receivables 304 (873)
Prepaid expenses 837 (68)
Accounts payable and accrued expenses 7,416 7,577
Other assets and liabilities, net 980 1,848
Net cash provided by operating activities 39,613 35,513
CASH FLOWS FROM INVESTING ACTIVITIES    
Investments in real estate (88,187) (1,305)
Improvements to properties (7,337) (8,855)
Deposits on real estate acquisitions (2,000) 500
Net cash used in investing activities (97,524) (9,660)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal repayments on mortgages (189) (130)
Proceeds from draws on credit facility 99,000 49,000
Payments on credit facility (10,000) (15,000)
Proceeds on repayment of promissory note receivable 0 6,710
Redemption of OP Units 0 (38,820)
Distributions to OP Unitholders (2,099) (1,945)
Deferred financing and other costs (3) 0
Registration expenditures (256) (49)
Dividends paid to common stockholders (20,709) (18,125)
Proceeds from Issuance of Shares under Incentive and Share-based Compensation Plans, Excluding Stock Options 43 0
Repurchase of common stock (1,571) (1,351)
Net cash provided by (used in) financing activities 64,216 (19,710)
Net increase in cash and cash equivalents 6,305 6,143
Cash and cash equivalents at beginning of period 13,125 8,844
Cash and cash equivalents at end of period 19,430 14,987
Other non-cash investing and financing activities increase (decrease):    
Issuance of OP Units in connection with acquisitions 3,559 46,140
Fair value of assumed mortgages upon acquisition 0 17,618
Intangible lease liabilities 1,118 0
Interest rate swap assets 181 0
Interest rate swap liabilities 0 239
Accrued real estate improvement costs 1,531 3,377
Retail Opportunity Investments Partnership L.P.    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income 11,251 8,925
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 23,058 20,933
Amortization of deferred financing costs and mortgage premiums, net 532 536
Straight-line rent adjustment (1,066) (1,170)
Amortization of above and below market rent (6,049) (4,135)
Amortization relating to stock based compensation 1,217 1,082
Provisions for tenant credit losses 636 386
Other noncash interest expense 535 535
Change in operating assets and liabilities:    
Restricted cash (38) (63)
Tenant and other receivables 304 (873)
Prepaid expenses 837 (68)
Accounts payable and accrued expenses 7,416 7,577
Other assets and liabilities, net 980 1,848
Net cash provided by operating activities 39,613 35,513
CASH FLOWS FROM INVESTING ACTIVITIES    
Investments in real estate (88,187) (1,305)
Improvements to properties (7,337) (8,855)
Deposits on real estate acquisitions (2,000) 500
Net cash used in investing activities (97,524) (9,660)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal repayments on mortgages (189) (130)
Proceeds from draws on credit facility 99,000 49,000
Payments on credit facility (10,000) (15,000)
Proceeds on repayment of promissory note receivable 0 6,710
Redemption of OP Units 0 (38,820)
Deferred financing and other costs (3) 0
Registration expenditures (256) (49)
Dividends paid to common stockholders (22,808) (20,070)
Proceeds from Issuance of Shares under Incentive and Share-based Compensation Plans, Excluding Stock Options 43 0
Repurchase of common stock (1,571) (1,351)
Net cash provided by (used in) financing activities 64,216 (19,710)
Net increase in cash and cash equivalents 6,305 6,143
Cash and cash equivalents at beginning of period 13,125 8,844
Cash and cash equivalents at end of period 19,430 14,987
Other non-cash investing and financing activities increase (decrease):    
Issuance of OP Units in connection with acquisitions 3,559 46,140
Fair value of assumed mortgages upon acquisition 0 17,618
Intangible lease liabilities 1,118 0
Interest rate swap assets 181 0
Interest rate swap liabilities 0 239
Accrued real estate improvement costs $ 1,531 $ 3,377