Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.5.0.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2016
Dec. 31, 2015
Properties, net:    
Operating properties, net $ 2,782,330 $ 2,920,529
Projects in development or held for future development 387,397 429,219
Total properties, net 3,169,727 3,349,748
Assets held for sale, net 300,584 96,782
Cash and cash equivalents 13,317 60,310
Restricted cash and marketable securities 8,302 7,716
Accounts receivable (net of allowance for doubtful accounts of $745 and $1,525, respectively) 32,505 29,167
Deferred rent receivable (net of allowance of $422 and $1,962, respectively) 92,316 105,484
Intangible assets on real estate acquisitions, net 88,788 98,338
Deferred leasing costs (net of accumulated amortization of $63,768 and $66,364, respectively) 42,632 53,868
Investing receivables 50,162 47,875
Prepaid expenses and other assets, net 43,359 60,024
Total assets 3,841,692 3,909,312
Liabilities:    
Debt, net 2,094,486 2,077,752
Accounts payable and accrued expenses 92,848 91,755
Rents received in advance and security deposits 32,035 37,148
Dividends and distributions payable 30,219 30,178
Deferred revenue associated with operating leases 17,560 19,758
Interest rate derivatives 20,245 3,160
Other liabilities 31,123 13,779
Total liabilities 2,318,516 2,273,530
Commitments and contingencies (Note 15)
Redeemable noncontrolling interests 22,473 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 June 30, 2016 and December 31, 2015) 199,083 199,083
Common Shares of beneficial interest 947 945
Additional paid-in capital 2,007,328 2,004,507
Cumulative distributions in excess of net income (756,940) (657,172)
Accumulated other comprehensive loss (17,712) (2,838)
Total Corporate Office Properties Trust’s shareholders’ equity 1,432,706 1,544,525
Noncontrolling interests in subsidiaries:    
Common units in COPLP 47,550 52,359
Preferred units in COPLP 8,800 8,800
Other consolidated entities 11,647 10,880
Noncontrolling interests in subsidiaries 67,997 72,039
Total equity 1,500,703 1,616,564
Total liabilities, redeemable noncontrolling interest and equity 3,841,692 3,909,312
Corporate Office Properties, L.P.    
Properties, net:    
Operating properties, net 2,782,330 2,920,529
Projects in development or held for future development 387,397 429,219
Total properties, net 3,169,727 3,349,748
Assets held for sale, net 300,584 96,782
Cash and cash equivalents 13,317 60,310
Restricted cash and marketable securities 3,256 1,953
Accounts receivable (net of allowance for doubtful accounts of $745 and $1,525, respectively) 32,505 29,167
Deferred rent receivable (net of allowance of $422 and $1,962, respectively) 92,316 105,484
Intangible assets on real estate acquisitions, net 88,788 98,338
Deferred leasing costs (net of accumulated amortization of $63,768 and $66,364, respectively) 42,632 53,868
Investing receivables 50,162 47,875
Prepaid expenses and other assets, net 43,359 60,024
Total assets 3,836,646 3,903,549
Liabilities:    
Debt, net 2,094,486 2,077,752
Accounts payable and accrued expenses 92,848 91,755
Rents received in advance and security deposits 32,035 37,148
Dividends and distributions payable 30,219 30,178
Deferred revenue associated with operating leases 17,560 19,758
Interest rate derivatives 20,245 3,160
Other liabilities 26,077 8,016
Total liabilities 2,313,470 2,267,767
Commitments and contingencies (Note 15)
Redeemable noncontrolling interests 22,473 19,218
Corporate Office Properties Trust’s shareholders’ equity:    
Common Shares of beneficial interest 1,299,571 1,400,745
Accumulated other comprehensive loss (18,437) (2,985)
Total Corporate Office Properties Trust’s shareholders’ equity 1,489,017 1,605,643
Noncontrolling interests in subsidiaries:    
Noncontrolling interests in subsidiaries 11,686 10,921
Total equity 1,500,703 1,616,564
Total liabilities, redeemable noncontrolling interest and equity 3,836,646 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