$OPI
OFFICE PROPERTIES INCOME TRUST

2021 Q4 Form 10-Q Financial Statement

#000145677221000044 Filed on October 28, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $147.3M $147.6M $145.8M
YoY Change 0.47% 1.22% -12.91%
Cost Of Revenue $48.79M $46.60M $42.50M
YoY Change 11.13% 9.66% -13.62%
Gross Profit $98.50M $101.0M $103.3M
YoY Change -4.18% -2.26% -12.61%
Gross Profit Margin 66.88% 68.42% 70.85%
Selling, General & Admin $8.288M $7.837M $14.60M
YoY Change -34.74% -46.32% -16.57%
% of Gross Profit 8.41% 7.76% 14.13%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $61.15M $58.33M $62.00M
YoY Change -1.37% -5.93% -15.76%
% of Gross Profit 62.08% 57.77% 60.02%
Operating Expenses $70.79M $67.37M $76.80M
YoY Change -5.49% -12.28% -16.97%
Operating Profit $27.71M $33.60M $26.50M
YoY Change -0.69% 26.78% 3.11%
Interest Expense -$27.66M $26.93M $27.10M
YoY Change -3.97% -0.62% -16.28%
% of Operating Profit -99.82% 80.15% 102.25%
Other Income/Expense, Net
YoY Change
Pretax Income $17.69M $4.434M -$3.572M
YoY Change -1707.73% -224.13% -0.42%
Income Tax -$97.00K $34.00K -$54.00K
% Of Pretax Income -0.55% 0.77%
Net Earnings $16.95M $3.712M -$3.797M
YoY Change -1096.76% -197.76% -3.6%
Net Earnings / Revenue 11.5% 2.52% -2.6%
Basic Earnings Per Share $0.08 -$0.08
Diluted Earnings Per Share $351.2K $0.08 -$0.08
COMMON SHARES
Basic Shares Outstanding 48.43M shares 48.21M shares 48.13M shares
Diluted Shares Outstanding 48.24M shares 48.13M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $83.03M $54.88M $45.00M
YoY Change 97.68% 21.96% 55.17%
Cash & Equivalents $83.03M $54.88M $45.04M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $112.9M $97.51M $100.4M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $195.9M $152.4M $145.4M
YoY Change 36.24% 4.81% 46.57%
LONG-TERM ASSETS
Property, Plant & Equipment $3.921B $3.915B $3.696B
YoY Change 8.33% 5.94% -7.38%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $34.84M $35.83M $38.50M
YoY Change -8.32% -6.94% -4.94%
Other Assets $81.97M $125.2M $77.80M
YoY Change -38.18% 60.92% -60.57%
Total Long-Term Assets $4.046B $4.087B $3.828B
YoY Change 6.39% 6.79% -10.17%
TOTAL ASSETS
Total Short-Term Assets $195.9M $152.4M $145.4M
Total Long-Term Assets $4.046B $4.087B $3.828B
Total Assets $4.242B $4.240B $3.973B
YoY Change 7.48% 6.72% -8.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $142.6M $126.3M $115.4M
YoY Change 22.62% 9.46% -2.45%
Accrued Expenses $700.0K
YoY Change
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 $149.4M $138.9M $123.4M
YoY Change 21.86% 12.55% -2.06%
LONG-TERM LIABILITIES
Long-Term Debt $2.578B $2.576B $2.201B
YoY Change 17.02% 17.03% -13.2%
Other Long-Term Liabilities $17.63M $18.82M $11.50M
YoY Change 53.29% 63.65% -63.49%
Total Long-Term Liabilities $2.596B $2.595B $2.213B
YoY Change 17.21% 17.27% -13.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $149.4M $138.9M $123.4M
Total Long-Term Liabilities $2.596B $2.595B $2.213B
Total Liabilities $2.745B $2.734B $2.336B
YoY Change 17.45% 17.01% -13.26%
SHAREHOLDERS EQUITY
Retained Earnings $175.7M $158.8M $185.6M
YoY Change -4.45% -14.44% 65.4%
Common Stock $2.618B $2.617B $2.615B
YoY Change 0.07% 0.09% 0.09%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.497B $1.506B $1.637B
YoY Change
Total Liabilities & Shareholders Equity $4.242B $4.240B $3.973B
YoY Change 7.48% 6.72% -8.88%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $16.95M $3.712M -$3.797M
YoY Change -1096.76% -197.76% -3.6%
Depreciation, Depletion And Amortization $61.15M $58.33M $62.00M
YoY Change -1.37% -5.93% -15.76%
Cash From Operating Activities $62.81M $41.31M $54.90M
YoY Change -6.95% -24.76% 36.23%
INVESTING ACTIVITIES
Capital Expenditures -$34.95M -$61.43M -$23.10M
YoY Change -43.62% 165.92% 29.05%
Acquisitions
YoY Change
Other Investing Activities $27.67M $26.20M $300.0K
YoY Change 32.38% 8632.33% -99.92%
Cash From Investing Activities -$7.287M -$35.23M -$22.80M
YoY Change -82.27% 54.52% -106.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -27.03M 29.86M -4.600M
YoY Change -0.63% -749.22% -98.86%
NET CHANGE
Cash From Operating Activities 62.81M 41.31M 54.90M
Cash From Investing Activities -7.287M -35.23M -22.80M
Cash From Financing Activities -27.03M 29.86M -4.600M
Net Change In Cash 28.49M 35.94M 27.50M
YoY Change -3661.88% 30.69% 231.33%
FREE CASH FLOW
Cash From Operating Activities $62.81M $41.31M $54.90M
Capital Expenditures -$34.95M -$61.43M -$23.10M
Free Cash Flow $97.76M $102.7M $78.00M
YoY Change -24.51% 31.71% 34.02%

Facts In Submission

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37860000 USD
CY2021Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
26575000 USD
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
1620998000 USD
CY2021Q2 us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
1176000 USD
CY2021Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
352000 USD
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-66697000 USD
CY2021Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
26575000 USD
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
1528550000 USD
CY2021Q3 us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
951000 USD
CY2021Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
649000 USD
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
3712000 USD
CY2021Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
26584000 USD
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
1505980000 USD
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
1705754000 USD
CY2020Q1 us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
379000 USD
CY2020Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
27000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-61000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
10840000 USD
CY2020Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
26511000 USD
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
1690374000 USD
CY2020Q2 us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
1121000 USD
CY2020Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
30000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
176000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
1299000 USD
CY2020Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
26510000 USD
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
1666430000 USD
CY2020Q3 us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
865000 USD
CY2020Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
386000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
85000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-3797000 USD
CY2020Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
26525000 USD
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
1636672000 USD
us-gaap Net Income Loss
NetIncomeLoss
-25125000 USD
us-gaap Net Income Loss
NetIncomeLoss
8342000 USD
us-gaap Depreciation
Depreciation
67469000 USD
us-gaap Depreciation
Depreciation
62570000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
7366000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
7162000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
108471000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
126409000 USD
us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
5750000 USD
us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
5208000 USD
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
54154000 USD
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
10822000 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
55854000 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
2954000 USD
opi Gain Losson Extinguishmentof Debt Net
GainLossonExtinguishmentofDebtNet
-9694000 USD
opi Gain Losson Extinguishmentof Debt Net
GainLossonExtinguishmentofDebtNet
-2701000 USD
us-gaap Straight Line Rent
StraightLineRent
13128000 USD
us-gaap Straight Line Rent
StraightLineRent
12963000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1627000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1542000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-1664000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-815000 USD
us-gaap Increase Decrease In Leasing Receivables
IncreaseDecreaseInLeasingReceivables
-10567000 USD
us-gaap Increase Decrease In Leasing Receivables
IncreaseDecreaseInLeasingReceivables
4853000 USD
us-gaap Increase Decrease In Deferred Leasing Fees
IncreaseDecreaseInDeferredLeasingFees
14388000 USD
us-gaap Increase Decrease In Deferred Leasing Fees
IncreaseDecreaseInDeferredLeasingFees
10722000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1523000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
860000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-7919000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-11593000 USD
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
6457000 USD
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
208000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
158682000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
166098000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
563447000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
11864000 USD
us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
65186000 USD
us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
55135000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
192476000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
81528000 USD
us-gaap Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
0 USD
us-gaap Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
2880000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-435698000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
18104000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
72238000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
154734000 USD
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
610000000 USD
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
400000000 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
1041809000 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
408932000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
755000000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
561467000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
755000000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
561467000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2655000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1477000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1001000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
434000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
79734000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
79546000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
276181000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-227259000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-835000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-43057000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
56855000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
100696000 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
56020000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
57639000 USD
us-gaap Interest Paid Net
InterestPaidNet
86917000 USD
us-gaap Interest Paid Net
InterestPaidNet
83116000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
294000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
1097000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
15428000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
12640000 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
13031000 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
0 USD
us-gaap Interest Paid Capitalized
InterestPaidCapitalized
392000 USD
us-gaap Interest Paid Capitalized
InterestPaidCapitalized
119000 USD
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
54881000 USD
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
45035000 USD
CY2021Q3 us-gaap Restricted Cash
RestrictedCash
1139000 USD
CY2020Q3 us-gaap Restricted Cash
RestrictedCash
12604000 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
56020000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
57639000 USD
opi Operating Leases Committed Expenditures On Leases Executed In Period
OperatingLeasesCommittedExpendituresOnLeasesExecutedInPeriod
129980000 USD
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
48211000 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
48132000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
48179000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
48111000 shares
CY2021Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
33000 shares
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48244000 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48132000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48179000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48111000 shares
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
opi Number Of Joint Ventures
NumberOfJointVentures
2 joint_venture
CY2021Q3 opi Number Of Operating Lease Executed
NumberOfOperatingLeaseExecuted
20 lease
CY2021Q3 opi Operating Leases Committed Expenditures On Leases Executed In Period Area Of Leased Property
OperatingLeasesCommittedExpendituresOnLeasesExecutedInPeriodAreaOfLeasedProperty
659000 sqft
CY2021Q3 opi Operating Leases Weighted Average Lease Term
OperatingLeasesWeightedAverageLeaseTerm
P10Y10M24D
CY2021Q3 opi Operating Leases Committed Expenditures On Leases Executed In Period
OperatingLeasesCommittedExpendituresOnLeasesExecutedInPeriod
46133000 USD
opi Number Of Operating Lease Executed
NumberOfOperatingLeaseExecuted
65 lease
opi Operating Leases Committed Expenditures On Leases Executed In Period Area Of Leased Property
OperatingLeasesCommittedExpendituresOnLeasesExecutedInPeriodAreaOfLeasedProperty
1782000 sqft
opi Operating Leases Weighted Average Lease Term
OperatingLeasesWeightedAverageLeaseTerm
P10Y10M24D
CY2021Q3 opi Operating Leases Committed Expenditures On Leases Executed In Period Committed But Unspent Tenant Related Obligations
OperatingLeasesCommittedExpendituresOnLeasesExecutedInPeriodCommittedButUnspentTenantRelatedObligations
129369000 USD
opi Number Of Properties Acquired
NumberOfPropertiesAcquired
3 property
CY2021Q3 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
926000 sqft
us-gaap Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
576478000 USD
opi Asset Acquisition Provisional Information Initial Accounting Incomplete Adjustment Consideration Transferred
AssetAcquisitionProvisionalInformationInitialAccountingIncompleteAdjustmentConsiderationTransferred
1761000 USD
CY2021Q3 opi Asset Acquisition Acquisition Related Costs
AssetAcquisitionAcquisitionRelatedCosts
1264000 USD
opi Number Of Properties Acquired
NumberOfPropertiesAcquired
3 property
CY2021Q3 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
926000 sqft
us-gaap Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
576478000 USD
CY2021Q3 opi Asset Acquisition Recognized Identifiable Assets Acquired And Liabilities Assumed Real Estate Lease Obligation
AssetAcquisitionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRealEstateLeaseObligation
9088000 USD
CY2021Q3 opi Number Of Properties Not Impaired
NumberOfPropertiesNotImpaired
14 property
opi Number Of Joint Ventures
NumberOfJointVentures
2 joint_venture
opi Number Of Joint Ventures
NumberOfJointVentures
2 joint_venture
opi Number Of Joint Ventures
NumberOfJointVentures
2 joint_venture
CY2021Q3 opi Tenant Reimbursement Income
TenantReimbursementIncome
23167000 USD
us-gaap Revenue Recognition Leases
RevenueRecognitionLeases
Our leases provide for base rent payments and in addition may include variable payments. Rental income from operating leases, including any payments derived by index or market-based indices, is recognized on a straight line basis over the lease term when we have determined that the collectability of substantially all of the lease payments is probable. Some of our leases have options to extend or terminate the lease exercisable at the option of our tenants, which are considered when determining the lease term. In certain circumstances, some leases provide the tenant with the right to terminate if the legislature or other funding authority does not appropriate the funding necessary for the tenant to meet its lease obligations; we have determined the fixed non-cancelable lease term of these leases to be the full term of the lease because we believe the occurrence of early terminations to be a remote contingency based on both our historical experience and our assessments of the likelihood of lease cancellation on a separate lease basis.
CY2021Q3 us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
3924000 USD
CY2020Q3 us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
3912000 USD
us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
13128000 USD
us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
12963000 USD
CY2021Q3 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
76033000 USD
CY2020Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
68824000 USD
CY2021Q3 us-gaap Variable Lease Income
VariableLeaseIncome
24098000 USD
us-gaap Variable Lease Income
VariableLeaseIncome
60446000 USD
opi Tenant Reimbursement Income
TenantReimbursementIncome
57609000 USD
CY2020Q3 us-gaap Variable Lease Income
VariableLeaseIncome
18606000 USD
us-gaap Variable Lease Income
VariableLeaseIncome
56654000 USD
CY2020Q3 opi Tenant Reimbursement Income
TenantReimbursementIncome
17495000 USD
opi Tenant Reimbursement Income
TenantReimbursementIncome
53346000 USD
CY2021Q3 opi Number Of Other Governments
NumberOfOtherGovernments
4 government_tenant
CY2020Q3 opi Number Of Other Governments
NumberOfOtherGovernments
2 government_tenant
CY2021Q3 opi Number Of Properties Collateralized
NumberOfPropertiesCollateralized
3 building
CY2021Q3 opi Aggregate Net Book Value Of Real Estate Properties Collateralized
AggregateNetBookValueOfRealEstatePropertiesCollateralized
189298000 USD
CY2021Q3 opi Aggregate Principal Amount Of Real Estate Properties Collateralized
AggregatePrincipalAmountOfRealEstatePropertiesCollateralized
98604000 USD
CY2021Q2 opi Number Of Trustees
NumberOfTrustees
8 trustee
CY2021Q3 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
25533 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
37542 shares
CY2021Q3 opi Stock Repurchased During Period Price Per Share
StockRepurchasedDuringPeriodPricePerShare
25.24
opi Stock Repurchased During Period Price Per Share
StockRepurchasedDuringPeriodPricePerShare
26.55
CY2021Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.55
CY2021Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
26575000 USD
CY2021Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.55
CY2021Q2 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
26575000 USD
CY2021Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.55
CY2021Q3 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
26584000 USD
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.65
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
79734000 USD

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