Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.4.0.3
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
Properties, net:    
Operating properties, net $ 2,863,262 $ 2,920,529
Projects in development or held for future development 416,169 429,219
Total properties, net 3,279,431 3,349,748
Assets held for sale, net 225,897 96,782
Cash and cash equivalents 62,489 60,310
Restricted cash and marketable securities 7,763 7,716
Accounts receivable (net of allowance for doubtful accounts of $1,789 and $1,525, respectively) 28,776 29,167
Deferred rent receivable (net of allowance of $881 and $1,962, respectively) 96,936 105,484
Intangible assets on real estate acquisitions, net 93,526 98,338
Deferred leasing costs (net of accumulated amortization of $66,237 and $66,364, respectively) 44,768 53,868
Investing receivables 48,998 47,875
Prepaid expenses and other assets, net 49,324 60,024
Total assets 3,937,908 3,909,312
Liabilities:    
Debt, net 2,140,212 2,077,752
Accounts payable and accrued expenses 78,597 91,755
Rents received in advance and security deposits 33,457 37,148
Dividends and distributions payable 30,217 30,178
Deferred revenue associated with operating leases 19,093 19,758
Interest rate derivatives 15,072 3,160
Other liabilities 15,046 13,779
Total liabilities $ 2,331,694 $ 2,273,530
Commitments and contingencies (Note 14)
Redeemable noncontrolling interests $ 22,333 $ 19,218
Corporate Office Properties Trust’s shareholders’ equity:    
Preferred Shares of beneficial interest at liquidation preference ($0.01 par value; 25,000,000 shares authorized, shares issued and outstanding of 7,431,667 at March 31, 2016 and December 31, 2015) 199,083 199,083
Common Shares of beneficial interest 947 945
Additional paid-in capital 2,005,523 2,004,507
Cumulative distributions in excess of net income (679,935) (657,172)
Accumulated other comprehensive loss (12,862) (2,838)
Total Corporate Office Properties Trust’s shareholders’ equity 1,512,756 1,544,525
Noncontrolling interests in subsidiaries:    
Common units in COPLP 51,031 52,359
Preferred units in COPLP 8,800 8,800
Other consolidated entities 11,294 10,880
Noncontrolling interests in subsidiaries 71,125 72,039
Total equity 1,583,881 1,616,564
Total liabilities, redeemable noncontrolling interest and equity 3,937,908 3,909,312
Corporate Office Properties, L.P.    
Properties, net:    
Operating properties, net 2,863,262 2,920,529
Projects in development or held for future development 416,169 429,219
Total properties, net 3,279,431 3,349,748
Assets held for sale, net 225,897 96,782
Cash and cash equivalents 62,489 60,310
Restricted cash and marketable securities 2,092 1,953
Accounts receivable (net of allowance for doubtful accounts of $1,789 and $1,525, respectively) 28,776 29,167
Deferred rent receivable (net of allowance of $881 and $1,962, respectively) 96,936 105,484
Intangible assets on real estate acquisitions, net 93,526 98,338
Deferred leasing costs (net of accumulated amortization of $66,237 and $66,364, respectively) 44,768 53,868
Investing receivables 48,998 47,875
Prepaid expenses and other assets, net 49,324 60,024
Total assets 3,932,237 3,903,549
Liabilities:    
Debt, net 2,140,212 2,077,752
Accounts payable and accrued expenses 78,597 91,755
Rents received in advance and security deposits 33,457 37,148
Dividends and distributions payable 30,217 30,178
Deferred revenue associated with operating leases 19,093 19,758
Interest rate derivatives 15,072 3,160
Other liabilities 9,375 8,016
Total liabilities $ 2,326,023 $ 2,267,767
Commitments and contingencies (Note 14)
Redeemable noncontrolling interests $ 22,333 $ 19,218
Corporate Office Properties Trust’s shareholders’ equity:    
Common Shares of beneficial interest 1,378,061 1,400,745
Accumulated other comprehensive loss (13,399) (2,985)
Total Corporate Office Properties Trust’s shareholders’ equity 1,572,545 1,605,643
Noncontrolling interests in subsidiaries:    
Noncontrolling interests in subsidiaries 11,336 10,921
Total equity 1,583,881 1,616,564
Total liabilities, redeemable noncontrolling interest and equity 3,932,237 3,903,549
General Partner | Corporate Office Properties, L.P.    
Corporate Office Properties Trust’s shareholders’ equity:    
Preferred partners' capital accounts 199,083 199,083
Limited Partner | Corporate Office Properties, L.P.    
Corporate Office Properties Trust’s shareholders’ equity:    
Preferred partners' capital accounts $ 8,800 $ 8,800