Quarterly report pursuant to Section 13 or 15(d)

ORION OFFICE REIT, CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS

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ORION OFFICE REIT, CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net (loss) income $ (78,481) $ 7,423
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 100,874 17,855
Non-cash revenue adjustments (2,683) (583)
Amortization of net premiums on mortgages payable 0 (60)
Impairments 54,161 0
Gain on disposition of real estate assets (1,059) 0
Loss on extinguishment of debt, net 468 3,499
Amortization of deferred financing costs 3,295 0
Equity-based compensation 1,153 0
Equity in loss of unconsolidated joint venture 252 0
Changes in assets and liabilities:    
Accounts receivable, net and other assets, net 502 (288)
Accounts payable, accrued expenses and other liabilities, net 7,435 1,652
Net cash provided by operating activities 85,917 29,498
Cash flows from investing activities:    
Capital expenditures and leasing costs (7,392) (160)
Proceeds from disposition of real estate 22,281 0
Return of investment from unconsolidated joint venture 1,798 0
Net cash provided by (used in) investing activities 16,687 (160)
Cash flows from financing activities:    
Repayment of bridge facility, including debt extinguishment costs (355,026) 0
Proceeds from mortgages payable 355,000 0
Payments on mortgages payable 0 (26,851)
Proceeds from credit facility revolver 70,000 0
Repayments of credit facility revolver (129,000) 0
Distributions paid (11,327) 0
Distributions to parent company, net 0 (1,887)
Payments of deferred financing costs (3,096) 0
Other financing activities (46) 0
Payments upon extinguishment of mortgage notes payable 0 (3,984)
Net cash used in financing activities (73,495) (32,722)
Net change in cash and cash equivalents and restricted cash 29,109 (3,384)
Cash and cash equivalents and restricted cash at the beginning of the period 29,318 3,915
Cash and cash equivalents and restricted cash at the end of the period 58,427 531
Reconciliation of Cash and Cash Equivalents and Restricted Cash    
Cash and cash equivalents at beginning of period 29,318 0
Restricted cash at beginning of period 0 3,915
Cash and cash equivalents and restricted cash at the beginning of the period 29,318 3,915
Cash and cash equivalents at end of period 23,282 0
Restricted cash at the end of the period 35,145 531
Cash and cash equivalents and restricted cash at the end of the period $ 58,427 $ 531