| Schedule of selected quarterly information |
The tables below set forth selected quarterly information for the years ended December 31, 2015 and 2014 (in thousands, except per share data). Certain of the amounts below have been reclassified to conform to the current period presentation of our consolidated financial statements.
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For the Year Ended December 31, 2015 |
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For the Year Ended December 31, 2014 |
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First Quarter |
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Second Quarter |
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Third Quarter |
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Fourth Quarter |
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First Quarter |
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Second Quarter |
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Third Quarter |
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Fourth Quarter |
COPT and Subsidiaries |
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Revenues |
$ |
161,034 |
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$ |
170,363 |
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$ |
150,744 |
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$ |
143,325 |
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$ |
146,667 |
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$ |
139,820 |
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$ |
153,015 |
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|
$ |
146,971 |
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Operating income |
$ |
30,575 |
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$ |
37,471 |
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$ |
31,993 |
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$ |
20,055 |
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$ |
25,206 |
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$ |
31,836 |
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$ |
37,422 |
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$ |
37,148 |
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Income from continuing operations |
$ |
10,987 |
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$ |
16,839 |
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$ |
94,279 |
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$ |
(1,430 |
) |
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$ |
5,660 |
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$ |
9,248 |
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$ |
13,727 |
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$ |
5,874 |
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Discontinued operations |
$ |
(238 |
) |
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$ |
394 |
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$ |
— |
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$ |
— |
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$ |
11 |
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|
$ |
(198 |
) |
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$ |
191 |
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|
$ |
22 |
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Net income |
$ |
14,735 |
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|
$ |
17,232 |
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$ |
94,294 |
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$ |
62,617 |
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$ |
5,671 |
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$ |
9,050 |
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$ |
24,548 |
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$ |
5,937 |
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Net income attributable to noncontrolling interests |
(1,380 |
) |
|
(1,451 |
) |
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(4,494 |
) |
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(3,253 |
) |
|
(930 |
) |
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(1,160 |
) |
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(1,828 |
) |
|
(1,033 |
) |
Net income attributable to COPT |
13,355 |
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|
15,781 |
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|
89,800 |
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|
59,364 |
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|
4,741 |
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7,890 |
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|
22,720 |
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|
4,904 |
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Preferred share dividends |
(3,552 |
) |
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(3,553 |
) |
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(3,552 |
) |
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(3,553 |
) |
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(4,490 |
) |
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(4,344 |
) |
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(3,553 |
) |
|
(3,552 |
) |
Issuance costs associated with redeemed preferred shares |
— |
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— |
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— |
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— |
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— |
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(1,769 |
) |
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— |
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|
— |
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Net income attributable to COPT common shareholders |
$ |
9,803 |
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$ |
12,228 |
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$ |
86,248 |
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$ |
55,811 |
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$ |
251 |
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$ |
1,777 |
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$ |
19,167 |
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$ |
1,352 |
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Basic earnings per common share |
$ |
0.10 |
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$ |
0.13 |
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$ |
0.91 |
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$ |
0.59 |
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$ |
0.00 |
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$ |
0.02 |
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$ |
0.22 |
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$ |
0.01 |
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Diluted earnings per common share |
$ |
0.10 |
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$ |
0.13 |
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$ |
0.91 |
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$ |
0.59 |
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$ |
0.00 |
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$ |
0.02 |
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$ |
0.22 |
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$ |
0.01 |
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| Schedule of selected quarterly information |
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COPLP and Subsidiaries |
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Revenues |
$ |
161,034 |
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$ |
170,363 |
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$ |
150,744 |
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$ |
143,325 |
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$ |
146,667 |
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$ |
139,820 |
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$ |
153,015 |
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$ |
146,971 |
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Operating income |
$ |
30,575 |
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$ |
37,471 |
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$ |
31,993 |
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$ |
20,055 |
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$ |
25,206 |
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$ |
31,836 |
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$ |
37,422 |
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$ |
37,148 |
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Income from continuing operations |
$ |
10,987 |
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$ |
16,839 |
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$ |
94,279 |
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$ |
(1,430 |
) |
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$ |
5,660 |
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$ |
9,248 |
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$ |
13,727 |
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$ |
5,874 |
|
Discontinued operations |
$ |
(238 |
) |
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$ |
394 |
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|
$ |
— |
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|
$ |
— |
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$ |
11 |
|
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$ |
(198 |
) |
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$ |
191 |
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$ |
22 |
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Net income |
$ |
14,735 |
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$ |
17,232 |
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$ |
94,294 |
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$ |
62,617 |
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$ |
5,671 |
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$ |
9,050 |
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$ |
24,548 |
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$ |
5,937 |
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Net income attributable to noncontrolling interests |
(818 |
) |
|
(812 |
) |
|
(972 |
) |
|
(918 |
) |
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(737 |
) |
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(837 |
) |
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(897 |
) |
|
(805 |
) |
Net income attributable to COPLP |
13,917 |
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|
16,420 |
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|
93,322 |
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|
61,699 |
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|
4,934 |
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|
8,213 |
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|
23,651 |
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|
5,132 |
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Preferred unit distributions |
(3,717 |
) |
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(3,718 |
) |
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(3,717 |
) |
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(3,718 |
) |
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(4,655 |
) |
|
(4,509 |
) |
|
(3,718 |
) |
|
(3,717 |
) |
Issuance costs associated with redeemed preferred units |
— |
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— |
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|
— |
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— |
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|
— |
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(1,769 |
) |
|
— |
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|
— |
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Net income attributable to COPLP common unitholders |
$ |
10,200 |
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$ |
12,702 |
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$ |
89,605 |
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$ |
57,981 |
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$ |
279 |
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$ |
1,935 |
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$ |
19,933 |
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$ |
1,415 |
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|
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Basic earnings per common unit |
$ |
0.10 |
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$ |
0.13 |
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$ |
0.91 |
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$ |
0.59 |
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$ |
0.00 |
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$ |
0.02 |
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$ |
0.22 |
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|
$ |
0.01 |
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Diluted earnings per common unit |
$ |
0.10 |
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$ |
0.13 |
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$ |
0.91 |
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$ |
0.59 |
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$ |
0.00 |
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$ |
0.02 |
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$ |
0.22 |
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$ |
0.01 |
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