CIO · As filed with the SEC
City Office REIT income statement, by fiscal year
The statement as City Office REIT presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.
Consolidated Statements of Operations · USD, except per-share amounts; shares in thousands
| USD, except per-share amounts; shares in thousands | FY2024 Year ended Dec 31, 2024 | FY2023 Year ended Dec 31, 2023 | FY2022 Year ended Dec 31, 2022 | FY2021 Year ended Dec 31, 2021 | FY2020 Year ended Dec 31, 2020 | FY2019 Year ended Dec 31, 2019 | FY2018 Year ended Dec 31, 2018 | FY2017 Year ended Dec 31, 2017 |
|---|---|---|---|---|---|---|---|---|
| Rental and other revenues | 171,126,000 | 179,096,000 | 180,485,000 | 164,041,000 | 160,840,000 | 156,297,000 | 129,484,000 | 106,487,000 |
| Operating expenses: | ||||||||
| Property operating expenses | — | — | — | — | — | 57,316,000 | 49,872,000 | 42,886,000 |
| Property operating expenses | 69,460,000 | 69,997,000 | 67,739,000 | 58,005,000 | 58,312,000 | — | — | — |
| General and administrative | 15,201,000 | 14,841,000 | 13,782,000 | 15,489,000 | 10,690,000 | 11,066,000 | 8,137,000 | 6,792,000 |
| Depreciation and amortization | 59,321,000 | 62,987,000 | 62,495,000 | 57,317,000 | 60,367,000 | 59,159,000 | 52,352,000 | 41,594,000 |
| Impairment of real estate | 8,463,000 | 0 | 13,444,000 | — | — | — | 3,497,000 | — |
| Total operating expenses | 152,445,000 | 147,825,000 | 157,460,000 | 130,811,000 | 129,369,000 | 127,541,000 | 113,858,000 | 91,272,000 |
| Operating income | 18,681,000 | 31,271,000 | 23,025,000 | 33,230,000 | 31,471,000 | 28,756,000 | 15,626,000 | 15,215,000 |
| Interest expense: | ||||||||
| Contractual interest expense | (32,960,000) | (31,876,000) | (25,784,000) | (23,268,000) | (26,363,000) | (28,401,000) | (22,316,000) | (18,721,000) |
| Amortization of deferred financing costs | — | — | — | — | — | — | (1,621,000) | (1,452,000) |
| Amortization of deferred financing costs and debt fair value | (1,384,000) | (1,296,000) | (1,218,000) | (1,332,000) | (1,326,000) | (1,325,000) | — | — |
| Interest expense, net | (34,344,000) | (33,172,000) | (27,002,000) | (24,600,000) | (27,689,000) | (29,726,000) | (23,937,000) | (20,173,000) |
| Net (loss)/gain on disposition of real estate property | (1,462,000) | (134,000) | 21,658,000 | 476,651,000 | 1,347,000 | 3,412,000 | 46,980,000 | 12,116,000 |
| Change in fair value of contingent consideration | — | — | — | — | — | — | — | 2,000,000 |
| Net (loss)/income | (17,125,000) | (2,035,000) | 17,681,000 | 485,281,000 | 5,129,000 | 2,442,000 | 38,669,000 | 9,158,000 |
| Net income attributable to non-controlling interests in properties | — | — | — | — | — | (644,000) | (501,000) | (3,402,000) |
| Net income attributable to non-controlling interests in properties | (555,000) | (647,000) | (691,000) | (886,000) | (602,000) | — | — | — |
| Net (loss)/income attributable to the Company | (17,680,000) | (2,682,000) | 16,990,000 | 484,395,000 | 4,527,000 | 1,798,000 | 38,168,000 | 5,756,000 |
| Preferred stock distributions | (7,420,000) | (7,420,000) | (7,420,000) | (7,420,000) | (7,420,000) | (7,420,000) | (7,420,000) | (7,411,000) |
| Net (loss)/income attributable to common stockholders | (25,100,000) | (10,102,000) | 9,570,000 | 476,975,000 | (2,893,000) | (5,622,000) | 30,748,000 | (1,655,000) |
| Net (loss)/income per common share: | ||||||||
| Basic and diluted | — | — | — | — | — | — | — | (0.05) |
| Basic | (0.63) | (0.25) | 0.23 | 10.97 | (0.06) | (0.13) | 0.82 | — |
| Diluted | (0.63) | (0.25) | 0.22 | 10.8 | (0.06) | (0.13) | 0.82 | — |
| Weighted average common shares outstanding: | ||||||||
| Basic and diluted | — | — | — | — | — | — | — | 30,198 |
| Basic | 40,140,000 | 39,922,000 | 42,052,000 | 43,498,000 | 47,223,000 | 43,997,000 | 37,321,000 | — |
| Diluted | 40,140,000 | 39,922,000 | 42,866,000 | 44,145,000 | 47,223,000 | 43,997,000 | 37,670,000 | — |
| Dividend distributions declared per common share | 0.4 | 0.5 | 0.8 | 0.65 | 0.6 | 0.94 | 0.94 | 0.94 |
| Rental income | — | — | — | — | — | — | 110,076,000 | 92,357,000 |
| Expense reimbursement | — | — | — | — | — | — | — | 11,164,000 |
| Expense reimbursement | — | — | — | — | — | — | 15,906,000 | — |
| Other | — | — | — | — | — | — | 3,502,000 | 2,966,000 |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.