Annual report pursuant to Section 13 and 15(d)

Orion Office REIT, Receivables and Other Assets (Tables)

v3.22.4
Orion Office REIT, Receivables and Other Assets (Tables)
 12 Months Ended
Dec. 31, 2022
Receivables [Abstract]  
Schedule of Accounts Receivables, Net
Accounts receivable, net consisted of the following as of December 31, 2022 and 2021 (in thousands):
December 31, 2022 December 31, 2021
Accounts receivable, net $ 10,461  $ 10,194 
Straight-line rent receivable, net 11,180  7,722 
Total $ 21,641  $ 17,916 
Schedule of Other Assets, Net
Other assets, net consisted of the following as of December 31, 2022 and 2021 (in thousands):
December 31, 2022 December 31, 2021
Restricted cash $ 34,673  $ — 
Right-of-use assets, net (1)
 26,422  30,958 
Investment in unconsolidated joint venture 15,824  18,631 
Derivative assets 6,308  299 
Deferred costs, net (2)
4,619  6,246 
Prepaid expenses 1,305  3,730 
Other assets, net 1,063  637 
Total $ 90,214  $ 60,501 
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(1)Amortization expense for below market right-of-use asset was $0.2 million and less than $0.1 million for the years ended December 31, 2022 and 2021, respectively. There was no amortization expense for below market right-of-use asset for the year ended December 31, 2020. Includes right-of-use finance leases of $9.0 million and $13.8 million, right-of-use operating leases of $10.6 million and $10.2 million, and a below-market right-of-use asset, net of $6.8 million and $7.1 million, as of December 31, 2022 and 2021, respectively.
(2)Amortization expense for deferred costs related to the Revolving Facility totaled $2.2 million and $0.3 million for the years ended December 31, 2022 and 2021, respectively, as compared to no amortization expense for deferred costs for the year ended December 31, 2020. Accumulated amortization for deferred costs related to the Revolving Facility was $2.5 million and $0.3 million as of December 31, 2022 and 2021, 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 December 31, 2022. There was no such balance as of December 31, 2021.