City Office REIT, Inc. CIO Income Statement

City office reit, inc. (CIO)

Income statement / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Sep'14	Jun'14
Rental income
-	-	-	-	-	-	-	-	-	-	84,184	79,376	71,944	63,702	60,091	56,048	52,041	48,009	41,873	35,358	0	0	0
Expense reimbursement
-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-
Expense reimbursement
-	-	-	-	-	-	-	-	-	-	-	-	7,652	-	7,220	7,116	6,699	5,808	4,580	3,276	0	0	0
Other
-	-	-	-	-	-	-	-	-	-	2,753	2,338	1,990	1,619	1,390	1,361	1,327	1,235	1,051	867	0	0	0
Rental and other revenues
159,299	156,297	151,404	146,005	135,070	129,484	126,498	117,701	112,622	106,487	96,610	90,651	81,586	72,461	68,701	64,525	60,067	55,052	47,506	39,503	0	0	0
Operating expenses:
Property operating expenses
58,166	57,316	56,000	54,869	52,091	49,872	48,533	45,973	44,899	42,886	39,506	36,198	31,760	28,305	26,434	24,570	22,461	20,420	16,546	12,782	0	0	0
Stock based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,785	1,583	0	0	0
General and administrative
11,550	11,066	10,779	9,854	8,458	8,137	7,350	6,946	6,577	6,792	7,128	7,434	7,381	6,429	6,951	5,610	4,561	3,728	1,721	1,644	0	0	0
Base management fee
-	-	-	-	-	-	-	-	-	-	-	-	-	109	430	752	1,079	1,302	1,207	1,070	0	0	0
External advisor acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	7,045	7,219	0	0	-	0	-	-	-	-
Insurance
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Property taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Property management fees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Acquisition costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	2,959	3,294	1,836	0	0	0
Depreciation and amortization
59,695	59,159	59,365	57,709	54,876	52,352	49,542	45,612	42,989	41,594	38,439	36,753	34,125	30,178	27,670	25,795	23,769	21,624	18,845	15,671	0	0	0
Total operating expenses
129,411	127,541	129,641	125,929	118,922	113,858	105,425	98,531	94,465	91,272	85,427	80,991	73,959	72,758	67,849	65,302	61,747	50,525	44,719	36,464	0	0	0
Operating income
29,888	28,756	21,763	20,076	16,148	15,626	21,073	19,170	18,157	15,215	11,183	9,660	7,627	-297	852	-777	-1,680	4,527	2,786	3,039	0	0	0
Interest expense:
Contractual interest expense
27,620	28,401	28,155	26,692	24,271	22,316	21,964	20,562	19,837	18,721	16,262	0	0	-	0	-	-	-	-	-	-	-	-
Amortization of deferred financing costs and debt fair value
1,312	1,325	1,303	1,336	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contractual interest expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13,374	12,338	-	0	0	0	-	-
Amortization of deferred financing costs
-	-	-	-	-	-	-	-	1,761	-	1,312	1,140	1,059	957	867	863	798	746	709	650	0	0	0
Loss on early extinguishment of Predecessor debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Interest expense, net
28,932	29,726	29,471	27,998	25,597	23,937	23,687	22,346	21,598	20,173	17,857	16,493	15,195	14,761	14,764	14,237	13,136	11,353	9,326	9,299	0	0	0
Net gain on sale of real estate property
-	-	-	0	-	46,980	59,096	0	0	-	-	0	-	-	-	0	-	-	-	-	-	-	-
Change in fair value of contingent consideration
-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	0	-	-	-
Interest expense, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Change in fair value of earn-out
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Net income/(loss)
4,368	2,442	-7,230	-7,444	-9,449	38,669	44,366	43,804	57,655	9,158	6,942	6,783	7,866	376	1,781	679	-15,657	-7,667	-8,677	0	0	-	0
Net income attributable to non-controlling interests in properties
657	644	615	586	535	501	0	0	0	-	-	-	-	354	373	424	448	500	0	0	0	-	-
Net income attributable to Operating Partnership unitholders' non-controlling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	865	495	-103	-3,138	-1,576	-1,893	-478	0	0	0
Less: Net (income)/loss attributable to noncontrolling interests in properties
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Net income attributable to non-controlling interests in properties
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-
Net income/(loss) attributable to the Company
3,711	1,798	-7,845	-8,030	-9,984	38,168	43,904	43,425	54,286	5,756	3,514	3,345	4,809	-843	913	358	-12,967	-6,591	-7,413	-5,154	0	0	0
Preferred stock distributions
7,420	7,420	7,420	7,420	7,420	7,420	7,420	7,420	7,420	7,411	0	0	0	-	-	-	-	-	-	-	-	-	-
Net loss attributable to common stockholders
-3,709	-5,622	-15,265	-15,450	-17,404	30,748	36,484	36,005	46,866	-1,655	-3,823	-2,137	1,182	-2,624	0	0	0	-	-	-	-	0	0
Net loss per common share:
Basic and diluted
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.56	-	-	-	-0.06	-0.22	-0.24
Basic
-0.02	0.03	-0.07	-0.02	-0.07	-0.28	-0.08	-0.07	1.25	-0.09	-0.12	0.27	-0.11	-	-0.08	0.56	-	-	-0.20	-0.15	-	-	-
Diluted
-0.02	0.03	-0.07	-0.02	-0.07	-0.27	-0.08	-0.07	1.24	-0.09	-0.12	0.27	-0.11	-	-0.08	0.48	-	-	-0.20	-0.15	-	-	-
Weighted average common shares outstanding:
Basic and diluted
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12,764	-	-	-	12,279	8,192	8,057
Basic
54,458	54,192	42,591	39,640	39,565	39,585	37,494	36,132	36,073	30,762	30,262	30,257	29,511	-	23,884	20,729	-	-	12,473	12,365	-	-	-
Diluted
54,458	54,192	42,591	39,640	39,565	40,622	37,494	36,132	36,432	30,456	30,262	30,563	29,511	-	23,884	24,235	-	-	12,473	12,365	-	-	-
Dividends distributions declared per common share
0.15	0.23	0.23	0.23	0.23	0.23	0.23	0.23	0.23	0.23	0.23	0.23	0.23	0.23	0.23	0.23	0.23	0.23	0.23	0.23	0.23	0.23	0.18