Office Properties Income Trust (OPI) Financial Statements (2024 and earlier)

Company Profile

Business Address C/O THE RMR GROUP
NEWTON, MA 02458
State of Incorp. MD
Fiscal Year End December 31
Industry (SIC) 65 - Real Estate (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments12,31512,24983,02642,04593,74435,349
Cash and cash equivalents12,31512,24983,02642,04593,74435,349
Total current assets:12,31512,24983,02642,04593,74435,349
Noncurrent Assets
Operating lease, right-of-use asset    168 
Property, plant and equipment786,310821,238874,108830,884840,550924,164
Intangible assets, net (including goodwill)263,498369,333505,629548,943732,3821,056,558
Intangible assets, net (excluding goodwill)263,498369,333505,629548,943732,3821,056,558
Total noncurrent assets:1,049,8081,190,5711,379,7371,379,9951,572,9321,980,722
Other undisclosed assets2,927,5462,777,1572,778,9202,524,3962,526,4603,222,512
TOTAL ASSETS:3,989,6693,979,9774,241,6833,946,4364,193,1365,238,583
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Liabilities, other than long-term debt11,66514,15717,03410,58813,17520,031
Off-market lease, unfavorable11,66514,15717,03410,58813,17520,031
Total noncurrent liabilities:11,66514,15717,03410,58813,17520,031
Other undisclosed liabilities2,722,3252,579,4852,727,9402,326,4562,474,2073,439,584
Total liabilities:2,733,9902,593,6422,744,9742,337,0442,487,3823,459,615
Equity
Equity, attributable to parent, including:1,255,6791,386,3351,496,7091,609,3921,705,7541,778,968
Common stock488486484483482481
Additional paid in capital2,621,4932,619,5322,617,1692,615,3052,612,4252,609,801
Accumulated other comprehensive income (loss)     (200)106
Retained earnings100,174169,606175,715183,895177,217146,882
Other undisclosed equity, attributable to parent(1,466,476)(1,403,289)(1,296,659)(1,190,291)(1,084,170)(978,302)
Total equity:1,255,6791,386,3351,496,7091,609,3921,705,7541,778,968
TOTAL LIABILITIES AND EQUITY:3,989,6693,979,9774,241,6833,946,4364,193,1365,238,583

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues     678,404427,897
Operating leases, income statement, lease revenue426,560
Cost of revenue(89,609)(84,849)(97,221)(90,503)(108,019)(76,133)
Gross profit:(89,609)(84,849)(97,221)(90,503)570,385351,764
Operating expenses(384,983)(380,176)(436,597)(388,660)(466,493)(300,158)
Operating income (loss):(474,592)(465,025)(533,818)(479,163)103,89251,606
Nonoperating income
(Investment Income, Nonoperating)
  21777791,045639
Interest and debt expense(110,647)(102,798)(126,453)(112,142)(135,649)(90,574)
Other undisclosed income from continuing operations before equity method investments, income taxes538,372565,276654,836598,77463,08413,109
Income (loss) from continuing operations before equity method investments, income taxes:(46,867)(2,330)(5,428)8,24832,372(25,220)
Loss from equity method investments(3,031)(3,509)(2,501)(1,193)(1,259)(2,269)
Income (loss) from continuing operations before income taxes:(49,898)(5,839)(7,929)7,05531,113(27,489)
Income tax expense(351)(270)(251)(377)(778)(117)
Income (loss) from continuing operations:(50,249)(6,109)(8,180)6,67830,335(27,606)
Income (loss) before gain (loss) on sale of properties:(8,180)6,67830,335(27,606)
Net income (loss):(50,249)(6,109)(8,180)6,67830,335(27,606)
Other undisclosed net income (loss) attributable to parent(19,183)    5,722
Net income (loss) attributable to parent:(69,432)(6,109)(8,180)6,67830,335(21,884)
Preferred stock dividends and other adjustments      (371)
Other undisclosed net loss available to common stockholders, basic(305)(427)    
Net income (loss) available to common stockholders, diluted:(69,737)(6,536)(8,180)6,67830,335(22,255)

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):(50,249)(6,109)(8,180)6,67830,335(27,606)
Comprehensive income (loss):(50,249)(6,109)(8,180)6,67830,335(27,606)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent    200(306)5,682
Comprehensive income (loss), net of tax, attributable to parent:(50,249)(6,109)(8,180)6,87830,029(21,924)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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