Annual report pursuant to Section 13 and 15(d)

Orion Office REIT, Receivables and Other Assets

v3.22.1
Orion Office REIT, Receivables and Other Assets
 12 Months Ended
Dec. 31, 2021
Receivables [Abstract]  
Receivables and Other Assets
Note 4 – Receivables and Other Assets:

Accounts receivable, net consisted of the following as of December 31, 2021 and 2020 (in thousands):
December 31, 2021 December 31, 2020
Straight-line rent receivable, net $ 7,722  $ 7,043 
Accounts receivable, net 10,194  1,035 
Total $ 17,916  $ 8,078 
Other assets, net consisted of the following as of December 31, 2021 and 2020 (in thousands):
December 31, 2021 December 31, 2020
Deferred costs, net (1)
6,246  — 
Prepaid expenses 3,730  252 
Right-of-use assets, net (2)
 30,958  7,630 
Investment in unconsolidated entity 18,631  — 
Restricted cash —  3,915 
Other assets, net 936  — 
Total $ 60,501  $ 11,797 
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(1)Amortization expense for deferred costs related to the revolving credit facility totaled $0.3 million for the year ended December 31, 2021 as compared to no deferred costs for the year ended December 31, 2020. Accumulated amortization for deferred costs related to the revolving credit facility was $0.3 million at December 31, 2021.
(2)Amortization expense for below market right-of-use asset was less than $0.1 million. Includes right-of-use finance leases of $13.8 million, right-of-use operating leases of $10.2 million, and a below-market right-of-use asset of $7.1 million, net of less than $0.1 million in accumulated amortization as of the year ended December 31, 2021.