PCOK · As filed with the SEC
Pacific Oak Strategic Opportunity REIT cash flow statement, by fiscal year
The statement as Pacific Oak Strategic Opportunity 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 thousands
| USD 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 |
|---|---|---|---|---|
| Cash Flows from Operating Activities: | ||||
| Net loss | (104,872) | (146,477) | (41,670) | (12,498) |
| Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | ||||
| Impairment charges on real estate and related intangibles | 76,090 | 64,849 | 18,493 | 10,971 |
| Loss from unconsolidated entities, net | 35,397 | 54,758 | 8,019 | 1,373 |
| Depreciation and amortization | 41,069 | 47,868 | 51,930 | 58,871 |
| Loss on real estate equity securities | 12,076 | 4,598 | 51,943 | (28,632) |
| Gain on sale of real estate, net | (119,018) | (82,099) | (46,513) | (30,261) |
| Unrealized (gain) loss on interest rate caps | — | (165) | (1,530) | 11 |
| Deferred rent | (859) | (176) | (2,582) | (1,890) |
| Amortization of above- and below-market leases, net | — | (255) | (1,007) | (1,278) |
| Amortization of deferred financing costs | — | — | 3,727 | 3,157 |
| Interest accretion on real estate debt securities | — | — | — | 0 |
| Amortization of discount (premium) on bond and notes payable, net | — | — | 4,784 | 2,721 |
| Amortization of deferred financing costs and debt discount and premium, net | 9,444 | 9,572 | — | — |
| Foreign currency transaction loss (gain), net | 3,156 | 18,712 | (29,038) | 7,445 |
| Impairment charges on goodwill | 0 | 4,488 | 8,098 | 2,808 |
| Pacific Oak Strategic Opportunity REIT II, Inc. | — | — | 8,100 | — |
| Gain from remeasurement of prior equity interest | — | — | 0 | 0 |
| Gain from consolidation of previously unconsolidated entity | 0 | 0 | (18,742) | — |
| Casualty-related gain | — | — | 0 | (27) |
| Loss (gain) on extinguishment of debt | 6,033 | 0 | (2,367) | 4,757 |
| Subordinated performance fee due upon termination to affiliate | — | 0 | 0 | 1,678 |
| Changes in assets and liabilities: | ||||
| Rents and other receivables, net | 1,169 | (575) | 2,589 | 1,390 |
| Prepaid expenses and other assets | 1,146 | (3,271) | (2,069) | (1,670) |
| Accounts payable and accrued liabilities | 663 | 3,807 | (3,159) | (207) |
| Due to affiliates | — | 4,622 | 198 | (975) |
| Other liabilities | — | (4,601) | 9,764 | (1,716) |
| Due to affiliate | 4,758 | — | — | — |
| Other liabilities | 3,391 | — | — | — |
| Net cash (used in) provided by operating activities | (30,357) | (24,345) | 10,868 | 16,028 |
| Cash Flows from Investing Activities: | ||||
| Improvements to real estate | (27,512) | (24,081) | (31,110) | (19,038) |
| Proceeds from sales of real estate, net | 232,347 | 116,318 | 151,178 | 194,711 |
| Insurance proceeds received for property damages | — | — | — | 0 |
| Purchase of interest rate caps | (1,447) | (1,236) | (556) | (18) |
| Proceeds from disposition of foreign currency collar | — | — | 0 | 1,198 |
| Contributions to unconsolidated entities | (79,530) | (31,428) | (23,780) | (10,539) |
| Distribution of capital from an unconsolidated entity | 1,497 | 1,144 | 569 | 0 |
| Investment in real estate equity securities | — | — | 0 | 0 |
| Payments on foreign currency derivatives, net | (478) | (30,209) | — | — |
| Proceeds from the sale of real estate equity securities | 16,379 | 13,946 | 0 | 14,439 |
| Proceeds from principal repayment on real estate debt securities | — | — | — | 0 |
| Proceeds for future development obligations | — | — | — | 6,203 |
| Funding of development obligations | — | — | — | 0 |
| (Funding) proceeds for future development obligations | — | — | (7,934) | — |
| Proceeds for development obligations | 16,461 | 12,005 | — | — |
| Payments on development obligations | (11,540) | (8,689) | — | — |
| Escrow deposits for pending real estate sales | 10,000 | 0 | 17,000 | — |
| Acquisitions of real estate, net of cash acquired | 0 | 0 | (6,689) | (4,818) |
| Cash acquired in connection with the Pacific Oak Strategic Opportunity REIT II merger | — | — | 0 | 0 |
| Cash paid to acquire PORT, net of cash acquired | — | — | — | 0 |
| Cash and restricted cash received upon consolidation of previously unconsolidated entity | 0 | 0 | 1,834 | — |
| Advances to affiliate | 0 | 0 | (1,200) | (7,040) |
| Proceeds from advances due from affiliates | 0 | 0 | 8,239 | — |
| Net cash provided by investing activities | 156,177 | 47,770 | 107,551 | 175,098 |
| Cash Flows from Financing Activities: | ||||
| Proceeds from notes and bonds payable | — | — | 188,106 | 358,931 |
| Principal and related payments on notes payable | — | — | (192,268) | (473,133) |
| Proceeds from notes and bonds payable | 179,787 | 98,502 | — | — |
| Principal payments on notes and bonds payable | (348,666) | (111,243) | — | — |
| Payments of deferred financing costs | — | (5,416) | (4,770) | (8,463) |
| Payments on deferred financing costs and extinguishment of debt | (9,814) | — | — | — |
| Redemptions of common stock | (2,882) | (6,425) | (6,007) | (31,018) |
| Noncontrolling interests contributions | 584 | 543 | 300 | 183 |
| Noncontrolling interests distributions | (2,608) | (1,094) | (9,538) | 0 |
| Proceeds for noncontrolling preferred stock, net | — | — | — | 0 |
| Payments to repurchase restricted stock | — | 0 | 0 | (5,656) |
| Payment of prepaid other offering costs | — | 0 | 0 | (227) |
| Payment for redeemable noncontrolling interests | 0 | 0 | (6,687) | — |
| Distributions paid | 0 | 0 | (11,016) | 0 |
| Preferred dividends paid | 0 | 0 | (1,123) | (913) |
| Acquisition of noncontrolling interest | 0 | 0 | (1,125) | (3,819) |
| Payments to redeem noncontrolling cumulative convertible redeemable preferred stock | 0 | 0 | (16,934) | — |
| Other financing proceeds, net | — | 0 | 0 | 2,367 |
| Net cash used in financing activities | (183,599) | (25,133) | (61,062) | (161,748) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 946 | (2,127) | (3,744) | 1,734 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (56,833) | (3,835) | 53,613 | 31,112 |
| Cash, cash equivalents and restricted cash, beginning of period | 155,209 | 159,044 | 105,431 | 74,319 |
| Cash, cash equivalents and restricted cash, end of period | 98,376 | 155,209 | 159,044 | 105,431 |
| Supplemental Disclosure of Cash Flow Information: | ||||
| Interest paid, net of capitalized interest of $4,519, $3,748 and $2,529 for the years ended December 31, 2024, 2023, and 2022, respectively | 60,399 | 58,884 | 38,663 | — |
| Income taxes paid | 10,000 | 11,500 | — | — |
| Supplemental Disclosure of Significant Noncash Transactions: | ||||
| Accrued improvements to real estate | 1,975 | 4,108 | 3,827 | — |
| Accrued development obligations | 12,135 | 11,213 | — | — |
| Restricted stock payable | — | — | 508 | — |
| Deposit applied to sale of real estate | 9,472 | 7,528 | — | — |
| Dividends declared, but not yet paid | — | 0 | 0 | — |
| PPP notes forgiveness | — | — | 2,367 | — |
| PPP notes forgiveness | — | 0 | — | — |
| Adjustment to redemption value of redeemable noncontrolling interest | 0 | 0 | 3,946 | — |
| Adjustment to redemption value of noncontrolling cumulative convertible redeemable preferred stock | — | 0 | 1,800 | — |
| Assets acquired in the consolidation of PORT II | 0 | 0 | — | — |
| PORT II | — | — | 137,569 | — |
| Liabilities assumed in the consolidation of PORT II | 0 | 0 | — | — |
| PORT II | — | — | 85,096 | — |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.
Data on this page was fetched . The filing on SEC.gov is the record.