Orion Office REIT Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Receivables and Other Assets (Tables)

Receivables and Other Assets (Tables)

3 Months Ended

Mar. 31, 2023

Accounts receivable, net consisted of the following as of March 31, 2023 and December 31, 2022 (in thousands):


	March 31, 2023		December 31, 2022
Accounts receivable, net	$	12,060	$	10,461
Straight-line rent receivable, net	12,637		11,180
Total	$	24,697	$	21,641

Schedule of Other Assets, Net

Other assets, net consisted of the following as of March 31, 2023 and December 31, 2022 (in thousands):


	March 31, 2023		December 31, 2022
Restricted cash	$	34,686	$	34,673
Right-of-use assets, net (1)	26,168		26,422
Investment in unconsolidated joint venture	15,279		15,824
Derivative assets	4,540		6,308
Deferred costs, net (2)	4,089		4,619
Prepaid expenses	3,961		1,305
Other assets, net	1,103		1,063
Total	$	89,826	$	90,214

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(1)Amortization expense for below market right-of-use asset was less than $0.1 million for the three months ended March 31, 2023 and 2022. Includes right-of-use finance leases of $9.0 million and a below-market right-of-use asset, net of $6.8 million as of March 31, 2023 and December 31, 2022, and right-of-use operating leases of $10.4 million and $10.6 million, as of March 31, 2023 and December 31, 2022, respectively.

(2)Amortization expense for deferred costs related to the Revolving Facility totaled $0.5 million for the three months ended March 31, 2023 and 2022. Accumulated amortization for deferred costs related to the Revolving Facility was $3.0 million and $2.5 million as of March 31, 2023 and December 31, 2022, respectively. Includes outstanding deferred equity offering costs of $0.5 million, which will be offset against additional paid in capital for future issuances of shares of the Company’s common stock, as of both March 31, 2023 and December 31, 2022.