$CIO
City Office REIT, Inc.

2022 Q4 Form 10-Q Financial Statement

#000119312522278423 Filed on November 07, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $44.61M $45.52M $44.89M
YoY Change 12.46% 1.41% 8.8%
Cost Of Revenue $17.00M $17.41M $15.18M
YoY Change 17.04% 14.7% 1.95%
Gross Profit $27.61M $28.11M $29.71M
YoY Change 9.81% -5.38% 12.62%
Gross Profit Margin 61.89% 61.75% 66.18%
Selling, General & Admin $3.207M $3.506M $7.900M
YoY Change 86.35% -55.62% 209.8%
% of Gross Profit 11.61% 12.47% 26.59%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $15.42M $15.56M $14.65M
YoY Change 15.96% 6.2% -3.57%
% of Gross Profit 55.86% 55.34% 49.3%
Operating Expenses $18.63M $36.47M $22.55M
YoY Change 24.03% 61.76% 27.17%
Operating Profit $8.981M $9.049M $7.161M
YoY Change -11.28% 26.37% -17.21%
Interest Expense -$7.774M $6.885M -$5.917M
YoY Change 25.43% -216.36% -14.86%
% of Operating Profit -86.56% 76.09% -82.63%
Other Income/Expense, Net
YoY Change
Pretax Income -$12.24M $2.164M $1.244M
YoY Change -102.82% 73.95% -59.08%
Income Tax
% Of Pretax Income
Net Earnings -$14.27M $1.989M $866.0K
YoY Change -103.3% 129.68% -70.03%
Net Earnings / Revenue -31.99% 4.37% 1.93%
Basic Earnings Per Share $0.00 -$0.02
Diluted Earnings Per Share -$0.36 $0.00 $19.88K
COMMON SHARES
Basic Shares Outstanding 39.72M 41.57M 43.55K
Diluted Shares Outstanding 42.13K 43.55K

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $28.19M $22.01M $17.70M
YoY Change 32.2% 24.38% -53.91%
Cash & Equivalents $28.19M $22.01M $17.70M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $44.43M
Other Receivables
Total Short-Term Assets $72.62M $61.71M $46.92M
YoY Change 40.36% 31.53% -35.9%
LONG-TERM ASSETS
Property, Plant & Equipment $1.393B $1.392B $882.5M
YoY Change -2.35% 57.69% -12.79%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $38.06M $41.73M $189.3M
YoY Change -7.77% -77.95% 475.32%
Total Long-Term Assets $1.502B $1.523B $1.105B
YoY Change -3.09% 37.73% 0.53%
TOTAL ASSETS
Total Short-Term Assets $72.62M $61.71M $46.92M
Total Long-Term Assets $1.502B $1.523B $1.105B
Total Assets $1.574B $1.584B $1.152B
YoY Change -1.69% 37.48% -1.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $35.75M $38.09M $32.10M
YoY Change 31.93% 18.68% -1.55%
Accrued Expenses $8.802M $8.937M $9.374M
YoY Change -3.91% -4.66% 18.66%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $44.56M $47.03M $41.47M
YoY Change 22.87% 13.4% 2.4%
LONG-TERM LIABILITIES
Long-Term Debt $700.2M $676.1M $603.4M
YoY Change 5.45% 12.06% -11.09%
Other Long-Term Liabilities $26.56M $45.74M $60.99M
YoY Change -13.5% -25.02% 113.27%
Total Long-Term Liabilities $726.7M $721.9M $664.4M
YoY Change 4.61% 8.65% -6.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $44.56M $47.03M $41.47M
Total Long-Term Liabilities $726.7M $721.9M $664.4M
Total Liabilities $771.3M $759.9M $706.6M
YoY Change 5.52% 7.55% -5.62%
SHAREHOLDERS EQUITY
Retained Earnings $251.5M $273.8M
YoY Change -8.7%
Common Stock $436.6M $435.5M
YoY Change -9.52%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $802.8M $824.1M $445.8M
YoY Change
Total Liabilities & Shareholders Equity $1.574B $1.584B $1.152B
YoY Change -1.69% 37.48% -1.74%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$14.27M $1.989M $866.0K
YoY Change -103.3% 129.68% -70.03%
Depreciation, Depletion And Amortization $15.42M $15.56M $14.65M
YoY Change 15.96% 6.2% -3.57%
Cash From Operating Activities $9.525M $22.18M $30.05M
YoY Change 27.15% -26.17% 84.44%
INVESTING ACTIVITIES
Capital Expenditures $8.952M -$12.07M -$2.932M
YoY Change -101.51% 311.7% 48.83%
Acquisitions
YoY Change
Other Investing Activities -$1.867M -$2.912M $25.10M
YoY Change -100.36% -111.6% 410.18%
Cash From Investing Activities -$10.82M -$14.98M $22.17M
YoY Change -85.94% -167.59% 648.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.875M -34.92M -18.36M
YoY Change -90.68% 90.2% -60.12%
NET CHANGE
Cash From Operating Activities 9.525M 22.18M 30.05M
Cash From Investing Activities -10.82M -14.98M 22.17M
Cash From Financing Activities 3.875M -34.92M -18.36M
Net Change In Cash 2.581M -27.72M 33.86M
YoY Change -109.25% -181.86% -226.43%
FREE CASH FLOW
Cash From Operating Activities $9.525M $22.18M $30.05M
Capital Expenditures $8.952M -$12.07M -$2.932M
Free Cash Flow $573.0K $34.25M $32.98M
YoY Change -99.9% 3.87% 80.6%

Facts In Submission

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CITY OFFICE REIT, INC.
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OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-439000
CY2022Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
934000
CY2021Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
128000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
3201000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
897000
CY2022Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
3098000
CY2021Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
1372000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
33119000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
53002000
CY2022Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
175000
CY2021Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
378000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
510000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
760000
CY2022Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2923000
CY2021Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
994000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
32609000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
52242000
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
870595000
CY2022Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
904000
CY2022Q1 us-gaap Dividends Common Stock
DividendsCommonStock
8711000
CY2022Q1 us-gaap Dividends Preferred Stock
DividendsPreferredStock
1855000
CY2022Q1 us-gaap Noncontrolling Interest Increase From Sale Of Parent Equity Interest
NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest
3000
CY2022Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
254000
CY2022Q1 us-gaap Profit Loss
ProfitLoss
24691000
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1754000
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
887127000
CY2022Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
905000
CY2022Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
5000000
CY2022Q2 us-gaap Dividends Common Stock
DividendsCommonStock
8580000
CY2022Q2 us-gaap Dividends Preferred Stock
DividendsPreferredStock
1855000
CY2022Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
180000
CY2022Q2 us-gaap Profit Loss
ProfitLoss
3063000
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
513000
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
875993000
CY2022Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
992000
CY2022Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
45082000
CY2022Q3 us-gaap Dividends Common Stock
DividendsCommonStock
7943000
CY2022Q3 us-gaap Dividends Preferred Stock
DividendsPreferredStock
1855000
CY2022Q3 us-gaap Noncontrolling Interest Increase From Sale Of Parent Equity Interest
NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest
27000
CY2022Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
894000
CY2022Q3 us-gaap Profit Loss
ProfitLoss
2164000
CY2022Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
934000
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
824336000
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
417875000
CY2021Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
645000
CY2021Q1 us-gaap Dividends Common Stock
DividendsCommonStock
6510000
CY2021Q1 us-gaap Dividends Preferred Stock
DividendsPreferredStock
1855000
CY2021Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
220000
CY2021Q1 us-gaap Profit Loss
ProfitLoss
49009000
CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
669000
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
459613000
CY2021Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
449000
CY2021Q2 us-gaap Dividends Common Stock
DividendsCommonStock
6533000
CY2021Q2 us-gaap Dividends Preferred Stock
DividendsPreferredStock
1855000
CY2021Q2 us-gaap Noncontrolling Interest Increase From Sale Of Parent Equity Interest
NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest
2000
CY2021Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
204000
CY2021Q2 us-gaap Profit Loss
ProfitLoss
1852000
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
100000
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
453424000
CY2021Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
666000
CY2021Q3 us-gaap Dividends Common Stock
DividendsCommonStock
6533000
CY2021Q3 us-gaap Dividends Preferred Stock
DividendsPreferredStock
1855000
CY2021Q3 us-gaap Noncontrolling Interest Increase From Sale Of Parent Equity Interest
NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest
10000
CY2021Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
536000
CY2021Q3 us-gaap Profit Loss
ProfitLoss
1244000
CY2021Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
128000
CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
446548000
us-gaap Profit Loss
ProfitLoss
29918000
us-gaap Profit Loss
ProfitLoss
52105000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
47072000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
44017000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
917000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
869000
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
70000
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
281000
us-gaap Straight Line Rent
StraightLineRent
6697000
us-gaap Straight Line Rent
StraightLineRent
-428000
us-gaap Share Based Compensation
ShareBasedCompensation
2887000
us-gaap Share Based Compensation
ShareBasedCompensation
1976000
us-gaap Increase Decrease In Leasing Receivables
IncreaseDecreaseInLeasingReceivables
-43549000
us-gaap Increase Decrease In Leasing Receivables
IncreaseDecreaseInLeasingReceivables
0
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
21658000
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
47400000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3895000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-635000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
158000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
560000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
6977000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
8558000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-2679000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
3468000
cio Increase Decrease In Tenant Rent Deposits
IncreaseDecreaseInTenantRentDeposits
849000
cio Increase Decrease In Tenant Rent Deposits
IncreaseDecreaseInTenantRentDeposits
1354000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
97152000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
65731000
us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
28533000
us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
12431000
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
0
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
43256000
us-gaap Proceeds From Sale Of Other Real Estate
ProceedsFromSaleOfOtherRealEstate
0
us-gaap Proceeds From Sale Of Other Real Estate
ProceedsFromSaleOfOtherRealEstate
122103000
us-gaap Increase Decrease In Deferred Leasing Fees
IncreaseDecreaseInDeferredLeasingFees
7698000
us-gaap Increase Decrease In Deferred Leasing Fees
IncreaseDecreaseInDeferredLeasingFees
6830000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-36231000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
59586000
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
82000000
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
106000000
us-gaap Repayments Of Debt
RepaymentsOfDebt
60472000
us-gaap Repayments Of Debt
RepaymentsOfDebt
180806000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
31567000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
25117000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
50082000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
1328000
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
960000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
87000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
216000
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
30000
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
12000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-61506000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-101087000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-585000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
24230000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
42266000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
45951000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
41681000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
70181000
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
22012000
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
17697000
CY2022Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
19669000
CY2021Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
52484000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
41681000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
70181000
us-gaap Interest Paid Net
InterestPaidNet
16660000
us-gaap Interest Paid Net
InterestPaidNet
17568000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
10568000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
4804000
cio Payments Of Deferred Leasing Costs Included In Accounts Payable
PaymentsOfDeferredLeasingCostsIncludedInAccountsPayable
1904000
cio Payments Of Deferred Leasing Costs Included In Accounts Payable
PaymentsOfDeferredLeasingCostsIncludedInAccountsPayable
1351000
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2013-11-26
us-gaap Operations Commenced Date1
OperationsCommencedDate1
2014-04-21
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.062
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
300000
us-gaap Operating Lease Cost
OperatingLeaseCost
800000
CY2022Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
135976000
CY2022Q3 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
16669000
CY2022Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
77396000
CY2022Q3 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
7067000
CY2022Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
58580000
CY2022Q3 us-gaap Below Market Lease Net
BelowMarketLeaseNet
9602000
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
154253000
CY2021Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
16881000
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
85328000
CY2021Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
6009000
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
68925000
CY2021Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
10872000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
9160000
CY2022Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
10117000
CY2021Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
10308000
CY2022Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
1463000
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
1425000
CY2022Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.062
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
2542000
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
9027000
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
6695000
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
6507000
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
6461000
CY2022Q3 cio Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
17746000
CY2022Q3 cio Finite Lived Intangible Assets Amortization Expected To Be Recognized Net
FiniteLivedIntangibleAssetsAmortizationExpectedToBeRecognizedNet
48978000
CY2022Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
680089000
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
658538000
CY2022Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
4198000
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
5223000
CY2022Q3 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
225000
CY2021Q4 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
333000
CY2022Q3 us-gaap Long Term Debt
LongTermDebt
676116000
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
653648000
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
1623000
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
48150000
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
108480000
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
276997000
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
4536000
CY2022Q3 cio Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
240303000
CY2022Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
680089000
CY2022Q3 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
39117000
CY2021Q3 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
38963000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
115746000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
106825000
CY2022Q3 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
6067000
CY2021Q3 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
5868000
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
18687000
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
17404000
CY2022Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
45184000
CY2021Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
44831000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
134433000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
124229000
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
31795000
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
121218000
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
111347000
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
99896000
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
91616000
CY2022Q3 cio Lessor Operating Lease Payment To Be Received After Year Four
LessorOperatingLeasePaymentToBeReceivedAfterYearFour
285667000
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
741539000
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P50Y
CY2022Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P50Y
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
13734000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
14114000
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
8937000
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
200000
us-gaap Operating Lease Cost
OperatingLeaseCost
700000
CY2022Q3 cio Financing Lease Cost
FinancingLeaseCost
100000
cio Financing Lease Cost
FinancingLeaseCost
300000
cio Schedule Of Share Based Compensation Arrangement By Share Based Payment Award For Defined Performance
ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardForDefinedPerformance
The payouts under the Performance RSU Awards are evaluated on a sliding scale as follows: TSR below the 30th percentile of the Peer Group would result in a 50% payout; TSR at the 50th percentile of the Peer Group would result in a 100% payout; and TSR at or above the 75th percentile of the Peer Group would result in a 150% payout. Payouts are mathematically interpolated between these stated percentile targets, subject to a 150% maximum.
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
83000
CY2022Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
9000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
836000
CY2022Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
12000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
770000
CY2022Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
7000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
770000
CY2022Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
8000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
724000
CY2022Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
8000
CY2022Q3 cio Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
27151000
CY2022Q3 cio Finance Lease Liability Payments Due After Year Four
FinanceLeaseLiabilityPaymentsDueAfterYearFour
6946000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
30334000
CY2022Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
6990000
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
21397000
CY2022Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
5527000
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
8937000
CY2022Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
1463000
CY2020Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
100000000
CY2020Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
50000000
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
4006897
cio Stock Repurchased During Period Before Commission Value
StockRepurchasedDuringPeriodBeforeCommissionValue
50000000
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0
CY2019Q2 cio Share Based Compensation Arrangement By Share Based Payment Award Maximum Number Of Shares
ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfShares
2263580
CY2022Q2 cio Share Based Compensation Arrangement By Share Based Payment Award Maximum Number Of Shares
ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfShares
3763580
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
5753000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
17.54
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
2808000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
9.7
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P3Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P3Y
CY2022Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
992000
CY2021Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
665000
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
2887000
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
1976000

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