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Consolidated Statements of Cash Flow - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 44,566 $ 48,248
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 72,444 69,401
Amortization of deferred financing costs and mortgage discounts and premiums, net 1,884 1,783
Straight-line rent adjustment (2,288) (438)
Amortization of above and below market rent (9,218) (6,571)
Amortization relating to stock based compensation 8,821 7,863
Provisions for tenant credit losses 1,528 2,023
Other noncash interest (income) expense (42) 59
Gain on sale of real estate (7,653) (22,340)
Change in operating assets and liabilities:    
Tenant and other receivables 1,545 (1,498)
Prepaid expenses 3,823 3,412
Accounts payable and accrued expenses 14,325 16,194
Other assets and liabilities, net 3,306 (2,972)
Net cash provided by operating activities 133,041 115,164
CASH FLOWS FROM INVESTING ACTIVITIES    
Investments in real estate (120,639) (30,304)
Proceeds from sale of real estate 34,435 68,003
Improvements to properties (44,590) (32,390)
Deposits on real estate acquisitions, net (500) (1,000)
Proceeds on repayment of mortgage note receivable 67 63
Net cash (used in) provided by investing activities (131,227) 4,372
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal repayments on mortgages (23,965) (453)
Proceeds from draws on credit facility 117,000 20,000
Payments on credit facility (65,000) (68,000)
Distributions to OP Unitholders (4,096) (1,918)
Proceeds from the sale of common stock 25,199 46,061
Registration expenditures (553) (500)
Dividends paid to common stockholders (54,223) (26,416)
Common shares issued under the Equity Incentive Plan 302 428
Shares withheld for employee taxes (2,405) (1,905)
Net cash used in financing activities (7,741) (32,703)
Net (decrease) increase in cash, cash equivalents and restricted cash (5,927) 86,833
Cash, cash equivalents and restricted cash at beginning of period 15,363 6,636
Cash, cash equivalents and restricted cash at end of period 9,436 93,469
Other non-cash investing and financing activities increase (decrease):    
Intangible lease liabilities 21,823 0
Interest rate swap liabilities (3,447) (4,204)
Accrued real estate improvement costs 4,375 8,206
Equity redemption of OP Units 5,071 6,858
Dividends and distributions payable 20,687 14,739
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 7,439 91,150
Restricted cash 1,997 2,319
Total cash, cash equivalents and restricted cash shown in Statements of Cash Flows 9,436 93,469
Retail Opportunity Investments Partnership L.P.    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income 44,566 48,248
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 72,444 69,401
Amortization of deferred financing costs and mortgage discounts and premiums, net 1,884 1,783
Straight-line rent adjustment (2,288) (438)
Amortization of above and below market rent (9,218) (6,571)
Amortization relating to stock based compensation 8,821 7,863
Provisions for tenant credit losses 1,528 2,023
Other noncash interest (income) expense (42) 59
Gain on sale of real estate (7,653) (22,340)
Change in operating assets and liabilities:    
Tenant and other receivables 1,545 (1,498)
Prepaid expenses 3,823 3,412
Accounts payable and accrued expenses 14,325 16,194
Other assets and liabilities, net 3,306 (2,972)
Net cash provided by operating activities 133,041 115,164
CASH FLOWS FROM INVESTING ACTIVITIES    
Investments in real estate (120,639) (30,304)
Proceeds from sale of real estate 34,435 68,003
Improvements to properties (44,590) (32,390)
Deposits on real estate acquisitions, net (500) (1,000)
Proceeds on repayment of mortgage note receivable 67 63
Net cash (used in) provided by investing activities (131,227) 4,372
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal repayments on mortgages (23,965) (453)
Proceeds from draws on credit facility 117,000 20,000
Payments on credit facility (65,000) (68,000)
Distributions to OP Unitholders (58,319) (28,334)
Proceeds from the sale of common stock 25,199 46,061
Registration expenditures (553) (500)
Common shares issued under the Equity Incentive Plan 302 428
Shares withheld for employee taxes (2,405) (1,905)
Net cash used in financing activities (7,741) (32,703)
Net (decrease) increase in cash, cash equivalents and restricted cash (5,927) 86,833
Cash, cash equivalents and restricted cash at beginning of period 15,363 6,636
Cash, cash equivalents and restricted cash at end of period 9,436 93,469
Other non-cash investing and financing activities increase (decrease):    
Intangible lease liabilities 21,823 0
Interest rate swap liabilities (3,447) (4,204)
Accrued real estate improvement costs 4,375 8,206
Equity redemption of OP Units 5,071 6,858
Dividends and distributions payable 20,687 14,739
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 7,439 91,150
Restricted cash 1,997 2,319
Total cash, cash equivalents and restricted cash shown in Statements of Cash Flows $ 9,436 $ 93,469