CIO · As filed with the SEC
City Office REIT cash flow 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 Cash Flows · USD
| USD | 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 |
|---|---|---|---|---|---|---|---|---|
| Cash Flows from Operating Activities: | ||||||||
| 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 |
| Adjustments to reconcile net (loss)/income to net cash provided by operating activities: | ||||||||
| 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 |
| Amortization of deferred financing costs and debt fair value | — | — | — | — | — | 1,325,000 | 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 | — | — | — |
| Amortization of above and below market leases | (124,000) | 1,069,000 | 75,000 | 343,000 | (17,000) | (27,000) | (182,000) | (337,000) |
| Straight-line rent/expense | (507,000) | (7,704,000) | (9,218,000) | (566,000) | (3,389,000) | (5,233,000) | (4,703,000) | (2,820,000) |
| Non-cash stock compensation | 4,322,000 | 4,094,000 | 3,879,000 | 2,641,000 | 2,332,000 | 1,742,000 | 1,416,000 | 1,671,000 |
| Earn-out termination payment | — | — | — | — | — | — | — | (2,400,000) |
| Receipts from sales-type lease | 0 | 0 | 43,549,000 | — | — | — | — | — |
| 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) |
| Impairment of real estate | 8,463,000 | 0 | 13,444,000 | — | — | — | 3,497,000 | — |
| Changes in non-cash working capital: | ||||||||
| Rents receivable, net | 49,000 | (897,000) | (6,033,000) | (654,000) | (182,000) | (1,061,000) | (1,602,000) | (1,647,000) |
| Prepaid expenses and other assets | — | — | — | — | — | — | (353,000) | 349,000 |
| Other assets | (149,000) | (884,000) | (10,000) | (345,000) | 53,000 | (330,000) | — | — |
| Accounts payable and accrued liabilities | 1,051,000 | 281,000 | 2,833,000 | 451,000 | (4,194,000) | (5,538,000) | (910,000) | 670,000 |
| Deferred rent | — | — | — | — | — | — | — | 324,000 |
| Tenant rent deposits | — | — | — | — | — | — | — | 655,000 |
| Net Cash Provided By Operating Activities | — | — | — | — | — | — | — | 36,553,000 |
| Deferred rent | 317,000 | (1,316,000) | (2,453,000) | 3,653,000 | 702,000 | 1,022,000 | (834,000) | — |
| Tenant rent deposits | 400,000 | 198,000 | 875,000 | 420,000 | (857,000) | (590,000) | 196,000 | — |
| Net Cash Provided By Operating Activities | 58,864,000 | 57,223,000 | 106,677,000 | 73,222,000 | 59,923,000 | 49,499,000 | 42,187,000 | — |
| Cash Flows to Investing Activities: | ||||||||
| Additions to real estate properties | (28,112,000) | (32,487,000) | (37,485,000) | (17,869,000) | (26,352,000) | (16,002,000) | (23,586,000) | (8,189,000) |
| Acquisition of real estate | — | 0 | 0 | (632,317,000) | — | (108,358,000) | (254,514,000) | (249,299,000) |
| Net proceeds from sale of real estate | — | — | — | — | — | — | 84,839,000 | 16,993,000 |
| Net proceeds from sale of real estate | 300,000 | 0 | 0 | 640,995,000 | 6,340,000 | 46,364,000 | — | — |
| Deferred leasing costs | — | — | (9,565,000) | (8,190,000) | (7,791,000) | (3,926,000) | (4,048,000) | (4,289,000) |
| Net Cash Used In Investing Activities | — | — | — | — | — | — | — | (244,784,000) |
| Reduction of cash on disposition of real estate property | (2,477,000) | (4,050,000) | — | — | — | — | — | — |
| Deferred leasing costs | (10,002,000) | (4,802,000) | — | — | — | — | — | — |
| Net Cash Used In Investing Activities | (40,291,000) | (41,339,000) | (47,050,000) | (17,381,000) | (27,803,000) | (81,922,000) | (197,309,000) | — |
| Cash Flows to Financing Activities: | ||||||||
| Proceeds from sale of common stock | — | — | — | 0 | — | 198,874,000 | 42,902,000 | 136,941,000 |
| Debt issuance and extinguishment costs | (622,000) | (743,000) | 0 | (2,506,000) | — | (1,008,000) | (2,963,000) | (1,716,000) |
| Proceeds from mortgage loans payable | — | — | — | — | — | — | 95,749,000 | 166,340,000 |
| Repayment of mortgage loans payable | — | — | — | — | — | — | (52,820,000) | (27,772,000) |
| Proceeds from credit facility | — | — | — | — | — | — | 303,000,000 | 226,000,000 |
| Repayment of credit facility | — | — | — | — | — | — | (189,000,000) | (245,000,000) |
| Proceeds from borrowings | 59,000,000 | 35,000,000 | 97,500,000 | 180,000,000 | 130,000,000 | 154,750,000 | — | — |
| Repayment of borrowings | (61,560,000) | (17,483,000) | (62,270,000) | (202,442,000) | (61,330,000) | (216,336,000) | — | — |
| Dividend distributions paid to stockholders | — | (31,339,000) | (41,365,000) | (33,506,000) | (41,178,000) | (48,163,000) | (42,158,000) | (36,256,000) |
| Change in restricted cash | — | — | — | — | — | — | — | (6,765,000) |
| Net Cash Provided By Financing Activities | — | — | — | — | — | — | — | 206,829,000 |
| Net (Decrease)/Increase in Cash and Cash Equivalents | — | — | — | — | — | — | — | (1,402,000) |
| Cash and Cash Equivalents, Beginning of Year | 30,082,000 | 28,187,000 | 21,321,000 | 25,305,000 | 70,129,000 | 16,138,000 | 12,301,000 | 13,703,000 |
| Dividend distributions paid to stockholders | (23,460,000) | — | — | — | — | — | — | — |
| Repurchases of common stock | (948,000) | 0 | (50,082,000) | 0 | (100,365,000) | — | — | — |
| Distributions to non-controlling interests in properties | 0 | (777,000) | (1,497,000) | (1,142,000) | (829,000) | (596,000) | (527,000) | (4,943,000) |
| Shares withheld for payment of taxes on restricted stock unit vesting | (1,072,000) | (1,643,000) | (87,000) | (216,000) | (42,000) | (832,000) | (87,000) | — |
| Minority interest buyout | — | — | — | — | — | — | (1,140,000) | — |
| Contributions from non-controlling interests in properties | 656,000 | 231,000 | 170,000 | 286,000 | 52,000 | 112,000 | 297,000 | — |
| Net Cash Used In Financing Activities | (28,006,000) | (16,754,000) | (57,631,000) | (59,526,000) | (73,692,000) | 86,801,000 | 153,253,000 | — |
| Net (Decrease)/Increase in Cash, Cash Equivalents and Restricted Cash | (9,433,000) | (870,000) | 1,996,000 | (3,685,000) | (41,572,000) | 54,378,000 | (1,869,000) | — |
| Cash, Cash Equivalents and Restricted Cash, Beginning of Period | 43,392,000 | 44,262,000 | 42,266,000 | 45,951,000 | 87,523,000 | 33,145,000 | 35,014,000 | — |
| Cash, Cash Equivalents and Restricted Cash, End of Period | 33,959,000 | 43,392,000 | 44,262,000 | 42,266,000 | 45,951,000 | 87,523,000 | 33,145,000 | — |
| Reconciliation of Cash, Cash Equivalents and Restricted Cash: | ||||||||
| Cash and Cash Equivalents, End of Period | 18,886,000 | 30,082,000 | 28,187,000 | 21,321,000 | 25,305,000 | 70,129,000 | 16,138,000 | 12,301,000 |
| Restricted Cash, End of Period | 15,073,000 | 13,310,000 | 16,075,000 | 20,945,000 | 20,646,000 | 17,394,000 | 17,007,000 | — |
| Cash, Cash Equivalents and Restricted Cash, End of Period | 33,959,000 | 43,392,000 | 44,262,000 | 42,266,000 | 45,951,000 | 87,523,000 | 33,145,000 | — |
| Supplemental Disclosures of Cash Flow Information: | ||||||||
| Cash paid for interest | — | — | — | — | — | — | — | 18,408,000 |
| Cash paid for interest | 33,988,000 | 30,773,000 | 23,064,000 | 23,344,000 | 26,454,000 | 28,479,000 | 22,131,000 | — |
| Purchases of additions in real estate properties included in accounts payable | — | — | — | — | — | 6,489,000 | 6,791,000 | 2,616,000 |
| Purchase of additions in real estate properties included in accounts payable | 13,115,000 | 6,963,000 | 13,004,000 | 5,815,000 | 7,640,000 | — | — | — |
| Purchase of deferred leasing costs included in accounts payable | 1,188,000 | 1,216,000 | 1,274,000 | 2,790,000 | 289,000 | 603,000 | 654,000 | 815,000 |
| Debt assumed on acquisition of real estate | — | — | — | 0 | — | 22,473,000 | — | — |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.