ORION OFFICE REIT, CONSOLIDATED AND COMBINED STATEMENTS OF OPERATIONS - USD ($) |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2022 |
Sep. 30, 2021 |
Sep. 30, 2022 |
Sep. 30, 2021 |
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| Total revenues | $ 51,769,000 | $ 13,315,000 | $ 157,824,000 | $ 38,930,000 |
| Operating expenses: | ||||
| Property operating | 15,303,000 | 1,660,000 | 45,773,000 | 4,611,000 |
| General and administrative | 4,672,000 | 594,000 | 11,480,000 | 1,665,000 |
| Depreciation and amortization | 32,693,000 | 5,912,000 | 100,874,000 | 17,855,000 |
| Impairments | 44,801,000 | 0 | 54,161,000 | 0 |
| Transaction related | 194,000 | 0 | 398,000 | 0 |
| Spin related | 0 | 2,797,000 | 964,000 | 2,797,000 |
| Total operating expenses | 97,663,000 | 10,963,000 | 213,650,000 | 26,928,000 |
| Other (expenses) income: | ||||
| Interest expense, net | (7,904,000) | (276,000) | (22,618,000) | (1,080,000) |
| Gain on disposition of real estate assets | 1,059,000 | 0 | 1,059,000 | 0 |
| Loss on extinguishment of debt, net | 0 | (3,499,000) | (468,000) | (3,499,000) |
| Other income, net | 31,000 | 0 | 118,000 | 0 |
| Equity in loss of unconsolidated joint venture | (157,000) | 0 | (252,000) | 0 |
| Total other (expenses) income, net | (6,971,000) | (3,775,000) | (22,161,000) | (4,579,000) |
| (Loss) income before taxes | (52,865,000) | (1,423,000) | (77,987,000) | 7,423,000 |
| Provision for income taxes | (164,000) | 0 | (494,000) | 0 |
| Net (loss) income | (53,029,000) | (1,423,000) | (78,481,000) | 7,423,000 |
| Net income attributable to non-controlling interest | (18,000) | 0 | (43,000) | 0 |
| Net (loss) income attributable to common stockholders | $ (53,047,000) | $ (1,423,000) | $ (78,524,000) | $ 7,423,000 |
| Weighted-average shares outstanding - basic (in shares) | 56,635,038 | 56,625,650 | 56,630,086 | 56,625,650 |
| Weighted-average shares outstanding - diluted (in shares) | 56,635,038 | 56,625,650 | 56,630,086 | 56,625,650 |
| Basic net (loss) income per share attributable to common stockholders (in dollars per share) | $ (0.94) | $ (0.03) | $ (1.39) | $ 0.13 |
| Diluted net (loss) income per share attributable to common stockholders (in dollars per share) | $ (0.94) | $ (0.03) | $ (1.39) | $ 0.13 |
| Rental | ||||
| Total revenues | $ 51,580,000 | $ 13,315,000 | $ 157,256,000 | $ 38,930,000 |
| Fee income from unconsolidated joint venture | ||||
| Total revenues | $ 189,000 | $ 0 | $ 568,000 | $ 0 |
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- Definition Spin Related Costs No definition available.
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- Definition Transaction Related Costs No definition available.
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- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expense incurred and directly related to generating revenue by lessor from operating lease of rented property and equipment. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of gain (loss) on sale or disposal of assets, including but not limited to property plant and equipment, intangible assets and equity in securities of subsidiaries or equity method investee. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The charge against earnings in the period to reduce the carrying amount of real property to fair value. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The net amount of operating interest income (expense). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- References No definition available.
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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