PCOK · As filed with the SEC
Pacific Oak Strategic Opportunity REIT income 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 OPERATIONS · USD thousands, except per-share amounts
| USD thousands, except per-share amounts | 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 |
|---|---|---|---|---|---|---|---|---|
| Revenues: | ||||||||
| Rental income | — | — | — | — | — | — | 72,334 | 110,690 |
| Tenant reimbursements | — | — | — | — | — | — | 12,621 | 21,710 |
| Rental income | — | — | — | — | — | 81,363 | — | — |
| Other operating income | — | — | — | — | — | 5,327 | — | — |
| Rental income | 120,495 | 128,068 | 121,859 | 123,436 | 100,199 | — | — | — |
| Hotel revenues | 9,061 | 9,153 | 30,749 | 30,806 | 3,718 | — | — | — |
| Other operating income | — | — | 3,859 | 4,027 | 3,835 | — | — | — |
| Other operating income | 3,969 | 4,315 | — | — | — | — | — | — |
| Hotel revenues | 9,061 | 9,153 | 30,749 | 30,806 | — | — | — | — |
| Interest income from real estate debt securities | — | — | — | 0 | 0 | 369 | — | — |
| Dividend income from real estate equity securities | — | 3,880 | 5,591 | 9,658 | 6,273 | 6,099 | — | — |
| Total revenues | 133,525 | 145,416 | 162,058 | 167,927 | 114,025 | 93,158 | 95,787 | 140,714 |
| Expenses: | ||||||||
| Operating, maintenance, and management | — | — | — | — | — | — | 29,110 | 42,611 |
| Operating, maintenance, and management | 45,967 | 45,699 | 44,317 | 42,519 | 33,882 | 29,294 | — | — |
| Real estate taxes and insurance | 23,410 | 28,300 | 21,132 | 20,768 | 15,702 | 12,631 | 11,762 | 17,404 |
| Asset management fees to affiliate | — | — | — | — | — | — | 8,525 | 10,686 |
| Real estate acquisition fees to affiliate | — | — | — | — | — | — | 0 | 0 |
| Real estate acquisition fees and expenses | — | — | — | — | — | — | 0 | 0 |
| Hotel expenses | 6,874 | 6,944 | 19,252 | 20,990 | 3,836 | — | — | — |
| Asset management fees to affiliates | 15,551 | 15,415 | 13,678 | 14,012 | 9,982 | 8,158 | — | — |
| General and administrative expenses | 11,665 | 10,476 | 10,700 | 9,853 | 7,664 | 7,456 | 7,784 | 6,138 |
| Hotel revenues | — | — | — | 2,577 | — | — | — | — |
| Foreign currency transaction loss (gain), net | 3,156 | 18,712 | (29,038) | 7,445 | 2,912 | 12,498 | (10,141) | (15,298) |
| Depreciation and amortization | 41,069 | 47,868 | 51,930 | 58,871 | 45,041 | 34,004 | 35,006 | 53,446 |
| Interest expense, net | — | 68,216 | 48,130 | 40,510 | 29,138 | 28,849 | 31,054 | 37,149 |
| Other-than-temporary impairment of debt securities | — | — | — | — | 0 | 0 | 2,500 | — |
| Interest expense, net | 71,892 | — | — | — | — | — | — | — |
| Impairment charges on real estate and related intangibles | 76,090 | 64,849 | 18,493 | 10,971 | — | — | — | — |
| Impairment charges on goodwill | 0 | 4,488 | 8,098 | 2,808 | — | — | — | — |
| Total expenses | 295,674 | 310,967 | 206,692 | 228,747 | 148,157 | 132,890 | 115,600 | 182,732 |
| Other income (loss): | ||||||||
| Gain from remeasurement of prior equity interest | — | — | 0 | 0 | 2,009 | — | — | — |
| Income from NIP | — | — | 0 | 0 | 97 | 0 | 428 | 2,073 |
| Equity in loss of unconsolidated joint ventures | — | — | — | — | — | — | (9,830) | (6,037) |
| (Loss) income from unconsolidated entities | — | — | (8,019) | (1,373) | 1,621 | 6,621 | — | — |
| Casualty-related loss | — | — | — | — | — | (506) | — | — |
| Casualty-related gain | — | — | 0 | 27 | 51 | — | — | — |
| Loss from unconsolidated entities, net | (35,397) | (54,758) | — | — | — | — | — | — |
| Other interest income | — | 2,907 | 228 | 194 | 348 | 2,120 | 1,884 | 1,105 |
| Loss on real estate equity securities | — | — | — | — | — | — | (19,010) | — |
| Gain on sale of real estate | — | — | — | — | — | — | 80,594 | 255,935 |
| Gain (loss) on real estate equity securities | — | — | — | — | — | 20,379 | — | — |
| Other income | 1,765 | — | — | — | — | — | 2,812 | 4,001 |
| Interest income from real estate debt securities | — | — | — | — | — | — | 2,018 | 1,782 |
| Dividend income from real estate equity securities | — | — | — | — | — | — | 6,002 | 2,531 |
| Interest income from real estate loan receivable | — | — | — | — | — | — | 0 | 0 |
| Loss on real estate equity securities, net | (12,076) | (4,598) | (51,943) | 28,632 | (14,814) | — | — | — |
| Gain on sale of real estate, net | 119,018 | 82,099 | 46,513 | 30,261 | (110) | 34,077 | — | — |
| (Loss) gain on extinguishment of debt | (6,033) | 0 | 2,367 | (4,757) | 415 | (1,106) | (493) | (478) |
| Other income | — | — | — | — | — | — | — | 0 |
| Total other income (loss), net | — | — | — | — | — | — | 53,573 | 252,598 |
| Gain from consolidation of previously unconsolidated entity | 0 | 0 | 18,742 | — | — | — | — | — |
| Transaction and related costs | — | 0 | 0 | (2,984) | (6,018) | (4,462) | — | — |
| Subordinated performance fee due upon termination to affiliate | — | 0 | 0 | (1,678) | 1,720 | (32,640) | — | — |
| Total other income, net | — | — | — | — | — | 24,483 | — | — |
| Net (loss) income before income taxes | — | — | — | — | — | (15,249) | 33,760 | — |
| Total other income, net | — | 25,650 | 7,888 | 48,322 | (14,681) | — | — | — |
| Total other income, net | 67,277 | — | — | — | — | — | — | — |
| Net loss before income taxes | (94,872) | (139,901) | (36,746) | — | — | — | — | — |
| Income tax provision | (10,000) | (6,576) | (4,924) | — | — | 68 | (436) | — |
| Net loss | (104,872) | (146,477) | (41,670) | (12,498) | (48,813) | (15,181) | 33,324 | 210,580 |
| Net loss (income) attributable to noncontrolling interests | 4,035 | 2,326 | (530) | 2,310 | 738 | (2,101) | 222 | 64 |
| Net loss attributable to redeemable noncontrolling interest | — | — | — | 146 | 56 | — | — | — |
| Net loss attributable to redeemable noncontrolling interest | 0 | 0 | 81 | — | — | — | — | — |
| Preferred stock dividends | 0 | 0 | (1,123) | (913) | (989) | — | — | — |
| Net loss attributable to common stockholders | (100,837) | (144,151) | (43,242) | (10,955) | (49,008) | (17,282) | 33,546 | 210,644 |
| Net (loss) income per common share, basic and diluted (in dollars per share) | — | — | — | — | (0.65) | (0.26) | 0.57 | 3.77 |
| Weighted-average number of common shares outstanding, basic and diluted (in shares) | — | — | — | — | 75,407,976 | 66,443,585 | 58,738,732 | 55,829,708 |
| Net loss per common share, basic (in dollars per share) | (0.98) | (1.39) | (0.44) | (0.11) | — | — | — | — |
| Net loss per common share, diluted (in dollars per share) | (0.98) | (1.39) | (0.44) | (0.11) | — | — | — | — |
| Weighted-average number of common shares outstanding, basic (in shares) | 103,083,547 | 103,642,866 | 103,522,696 | 96,967,983 | — | — | — | — |
| Weighted-average number of common shares outstanding, diluted (in shares) | 103,083,547 | 103,642,866 | 103,522,696 | 96,967,983 | — | — | — | — |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.