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

Quarterly report pursuant to Section 13 or 15(d)

Cover
- Cover
Financial Statements
Notes to Financial Statements
Accounting Policies
- Orion Office REIT, Summary of Significant Accounting Policies (Policies)
- VEREIT Office Assets, Organization and Summary of Significant Accounting Policies (Policies)
Notes Tables
Notes Details

Orion Office REIT, Real Estate Investments and Related Intangibles - Intangible Lease Assets (Details)

v3.22.2

Orion Office REIT, Real Estate Investments and Related Intangibles - Intangible Lease Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Real Estate [Line Items]
Intangible lease assets, net	$ 247,722		$ 247,722		$ 298,107
Weighted-Average Useful Life (Years)			7 years 9 months 18 days
Below-market lease liabilities, net	17,381		$ 17,381		20,609
Below market-leases accumulated amortization	17,687		$ 17,687		14,459
In-place leases
Real Estate [Line Items]
Finite-Lived Intangible Asset, Useful Life			5 years
Intangible lease assets, net	223,234		$ 223,234		272,743
Accumulated amortization	113,602		$ 113,602		65,247
Leasing commissions
Real Estate [Line Items]
Finite-Lived Intangible Asset, Useful Life			12 years 8 months 12 days
Intangible lease assets, net	12,065		$ 12,065		10,349
Accumulated amortization	955		$ 955		456
Above-market lease assets and deferred lease incentives
Real Estate [Line Items]
Finite-Lived Intangible Asset, Useful Life			5 years 2 months 12 days
Intangible lease assets, net	12,423		$ 12,423		15,015
Accumulated amortization	8,831		8,831		$ 6,239
Above‑ and below-market leases and deferred lease incentives
Real Estate [Line Items]
Amortization expense	300	$ 300	600	$ 500
In-place leases, leasing commissions and other lease intangibles
Real Estate [Line Items]
Amortization expense	$ 24,600	$ 1,500	$ 49,800	$ 3,200

- Definition

Below Market Lease, Weighted Average Useful Life

+ References

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The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method.

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Amount of accumulated amortization of leases acquired as part of a real property acquisition at below market lease rate with a finite life.

+ References

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Amount after amortization of leases acquired as part of a real property acquisition at below market lease rate with a finite life.

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- Definition

Useful life of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.

+ References

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- Definition

Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life.

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Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life.

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Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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