Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share ("EPS") and Earnings Per Unit ("EPU") (Tables)

v3.5.0.2
Earnings Per Share ("EPS") and Earnings Per Unit ("EPU") (Tables)
6 Months Ended
Jun. 30, 2016
Earnings Per Share [Line Items]  
Summary of calculation of numerator and denominator in basic and diluted earnings per share
Summaries of the numerator and denominator for purposes of basic and diluted EPS calculations are set forth below (in thousands, except per share data):
 
For the Three Months Ended June 30,
 
For the Six Months Ended June 30,
 
2016
 
2015
 
2016
 
2015
Numerator:
 

 
 

 
 
 
 
(Loss) income from continuing operations
$
(48,316
)
 
$
16,839

 
$
(40,220
)
 
$
27,826

Gain on sales of real estate, net

 
(1
)
 

 
3,985

Preferred share dividends
(3,553
)
 
(3,553
)
 
(7,105
)
 
(7,105
)
Loss (income) from continuing operations attributable to noncontrolling interests
897

 
(1,436
)
 
(373
)
 
(2,828
)
Income from continuing operations attributable to share-based compensation awards
(96
)
 
(113
)
 
(214
)
 
(235
)
Numerator for basic and diluted EPS from continuing operations attributable to COPT common shareholders
$
(51,068
)
 
$
11,736

 
$
(47,912
)
 
$
21,643

Discontinued operations

 
394

 

 
156

Discontinued operations attributable to noncontrolling interests

 
(15
)
 

 
(3
)
Numerator for basic and diluted EPS on net income attributable to COPT common shareholders
$
(51,068
)
 
$
12,115

 
$
(47,912
)
 
$
21,796

Denominator (all weighted averages):
 

 
 

 
 
 
 
Denominator for basic EPS (common shares)
94,300

 
94,128

 
94,251

 
93,666

Dilutive effect of share-based compensation awards

 
35

 

 
114

Denominator for diluted EPS (common shares)
94,300

 
94,163

 
94,251

 
93,780

Basic EPS:
 

 
 

 
 
 
 
(Loss) income from continuing operations attributable to COPT common shareholders
$
(0.54
)
 
$
0.13

 
$
(0.51
)
 
$
0.23

Discontinued operations attributable to COPT common shareholders
0.00

 
0.00

 
0.00

 
0.00

Net (loss) income attributable to COPT common shareholders
$
(0.54
)
 
$
0.13

 
$
(0.51
)
 
$
0.23

Diluted EPS:
 

 
 

 
 
 
 
(Loss) income from continuing operations attributable to COPT common shareholders
$
(0.54
)
 
$
0.13

 
$
(0.51
)
 
$
0.23

Discontinued operations attributable to COPT common shareholders
0.00

 
0.00

 
0.00

 
0.00

Net (loss) income attributable to COPT common shareholders
$
(0.54
)
 
$
0.13

 
$
(0.51
)
 
$
0.23

Schedule of securities excluded from computation of diluted earnings per share
Our diluted EPS computations do not include the effects of the following securities since the conversions of such securities would increase diluted EPS for the respective periods (in thousands):
 
Weighted Average Shares Excluded from Denominator
 
For the Three Months Ended June 30,
 
For the Six Months Ended June 30,
 
2016
 
2015
 
2016
 
2015
Conversion of common units
3,676

 
3,680

 
3,676

 
3,706

Conversion of Series I Preferred Units
176

 
176

 
176

 
176

Conversion of Series K Preferred Shares
434

 
434

 
434

 
434

Corporate Office Properties, L.P.  
Earnings Per Share [Line Items]  
Summary of calculation of numerator and denominator in basic and diluted earnings per share
Summaries of the numerator and denominator for purposes of basic and diluted EPU calculations are set forth below (in thousands, except per unit data):
 
For the Three Months Ended June 30,
 
For the Six Months Ended June 30,
 
2016
 
2015
 
2016
 
2015
Numerator:
 

 
 

 
 
 
 
(Loss) income from continuing operations
$
(48,316
)
 
$
16,839

 
$
(40,220
)
 
$
27,826

Gain on sales of real estate, net

 
(1
)
 

 
3,985

Preferred unit distributions
(3,718
)
 
(3,718
)
 
(7,435
)
 
(7,435
)
Income from continuing operations attributable to noncontrolling interests
(911
)
 
(812
)
 
(1,890
)
 
(1,633
)
Income from continuing operations attributable to share-based compensation awards
(96
)
 
(113
)
 
(214
)
 
(235
)
Numerator for basic and diluted EPU from continuing operations attributable to COPLP common unitholders
$
(53,041
)
 
$
12,195

 
$
(49,759
)
 
$
22,508

Discontinued operations

 
394

 

 
156

Discontinued operations attributable to noncontrolling interests

 

 

 
3

Numerator for basic and diluted EPU on net income attributable to COPLP common unitholders
$
(53,041
)
 
$
12,589

 
$
(49,759
)
 
$
22,667

Denominator (all weighted averages):
 

 
 

 
 
 
 
Denominator for basic EPU (common units)
97,976

 
97,808

 
97,927

 
97,372

Dilutive effect of share-based compensation awards

 
35

 

 
114

Denominator for diluted EPU (common units)
97,976

 
97,843

 
97,927

 
97,486

Basic EPU:
 

 
 

 
 
 
 
(Loss) income from continuing operations attributable to COPLP common unitholders
$
(0.54
)
 
$
0.13

 
$
(0.51
)
 
$
0.23

Discontinued operations attributable to COPLP common unitholders
0.00

 
0.00

 
0.00

 
0.00

Net (loss) income attributable to COPLP common unitholders
$
(0.54
)
 
$
0.13

 
$
(0.51
)
 
$
0.23

Diluted EPU:
 

 
 

 
 
 
 
(Loss) income from continuing operations attributable to COPLP common unitholders
$
(0.54
)
 
$
0.13

 
$
(0.51
)
 
$
0.23

Discontinued operations attributable to COPLP common unitholders
0.00

 
0.00

 
0.00

 
0.00

Net (loss) income attributable to COPLP common unitholders
$
(0.54
)
 
$
0.13

 
$
(0.51
)
 
$
0.23

Schedule of securities excluded from computation of diluted earnings per share
Our diluted EPU computations do not include the effects of the following securities since the conversions of such securities would increase diluted EPU for the respective periods (in thousands):
 
Weighted Average Units Excluded from Denominator
 
For the Three Months Ended June 30,
 
For the Six Months Ended June 30,
 
2016
 
2015
 
2016
 
2015
Conversion of Series I preferred units
176

 
176

 
176

 
176

Conversion of Series K preferred units
434

 
434

 
434

 
434