| Quarterly Data (Unaudited) |
Quarterly Data (Unaudited)
The tables below set forth selected quarterly information for the years ended December 31, 2016 and 2015 (in thousands, except per share/unit data).
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For the Year Ended December 31, 2016 |
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For the Year Ended December 31, 2015 |
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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 |
$ |
144,307 |
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$ |
145,927 |
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$ |
142,103 |
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$ |
141,991 |
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$ |
161,034 |
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|
$ |
170,363 |
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|
$ |
150,744 |
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|
$ |
143,325 |
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Operating income |
$ |
30,464 |
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|
$ |
(27,021 |
) |
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$ |
11,525 |
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$ |
37,442 |
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$ |
30,575 |
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$ |
37,471 |
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$ |
31,993 |
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$ |
20,055 |
|
Income (loss) from continuing operations |
$ |
8,096 |
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$ |
(48,316 |
) |
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$ |
(4,829 |
) |
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$ |
19,718 |
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$ |
10,987 |
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$ |
16,839 |
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$ |
94,279 |
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$ |
(1,430 |
) |
Discontinued operations |
$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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|
$ |
(238 |
) |
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$ |
394 |
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|
$ |
— |
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|
$ |
— |
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Net income (loss) |
$ |
8,096 |
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$ |
(48,316 |
) |
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$ |
29,272 |
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$ |
26,603 |
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$ |
14,735 |
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$ |
17,232 |
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$ |
94,294 |
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$ |
62,617 |
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Net (income) loss attributable to noncontrolling interests |
(1,270 |
) |
|
897 |
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(1,973 |
) |
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(1,870 |
) |
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(1,380 |
) |
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(1,451 |
) |
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(4,494 |
) |
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(3,253 |
) |
Net income (loss) attributable to COPT |
6,826 |
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(47,419 |
) |
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27,299 |
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24,733 |
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13,355 |
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15,781 |
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|
89,800 |
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|
59,364 |
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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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(3,640 |
) |
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(3,552 |
) |
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(3,553 |
) |
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(3,552 |
) |
|
(3,553 |
) |
Issuance costs associated with redeemed preferred shares |
— |
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— |
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— |
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(17 |
) |
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— |
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— |
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— |
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— |
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Net income (loss) attributable to COPT common shareholders |
$ |
3,274 |
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$ |
(50,972 |
) |
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$ |
23,747 |
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$ |
21,076 |
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$ |
9,803 |
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$ |
12,228 |
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$ |
86,248 |
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$ |
55,811 |
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Basic EPS |
$ |
0.03 |
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$ |
(0.54 |
) |
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$ |
0.25 |
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$ |
0.22 |
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$ |
0.10 |
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$ |
0.13 |
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$ |
0.91 |
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$ |
0.59 |
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Diluted EPS |
$ |
0.03 |
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$ |
(0.54 |
) |
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$ |
0.25 |
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$ |
0.22 |
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$ |
0.10 |
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$ |
0.13 |
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$ |
0.91 |
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$ |
0.59 |
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COPLP and Subsidiaries |
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Revenues |
$ |
144,307 |
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$ |
145,927 |
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$ |
142,103 |
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$ |
141,991 |
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$ |
161,034 |
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$ |
170,363 |
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$ |
150,744 |
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$ |
143,325 |
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Operating income |
$ |
30,464 |
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$ |
(27,021 |
) |
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$ |
11,525 |
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$ |
37,442 |
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$ |
30,575 |
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$ |
37,471 |
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$ |
31,993 |
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$ |
20,055 |
|
Income (loss) from continuing operations |
$ |
8,096 |
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$ |
(48,316 |
) |
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$ |
(4,829 |
) |
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$ |
19,718 |
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$ |
10,987 |
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$ |
16,839 |
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$ |
94,279 |
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$ |
(1,430 |
) |
Discontinued operations |
$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
(238 |
) |
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$ |
394 |
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$ |
— |
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$ |
— |
|
Net income (loss) |
$ |
8,096 |
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$ |
(48,316 |
) |
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$ |
29,272 |
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$ |
26,603 |
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$ |
14,735 |
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$ |
17,232 |
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$ |
94,294 |
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$ |
62,617 |
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Net income attributable to noncontrolling interests |
(979 |
) |
|
(911 |
) |
|
(913 |
) |
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(912 |
) |
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(818 |
) |
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(812 |
) |
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(972 |
) |
|
(918 |
) |
Net income (loss) attributable to COPLP |
7,117 |
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(49,227 |
) |
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28,359 |
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25,691 |
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|
13,917 |
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|
16,420 |
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|
93,322 |
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|
61,699 |
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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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(3,805 |
) |
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(3,717 |
) |
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(3,718 |
) |
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(3,717 |
) |
|
(3,718 |
) |
Issuance costs associated with redeemed preferred units |
— |
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|
— |
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|
— |
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|
(17 |
) |
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— |
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— |
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— |
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|
— |
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Net income (loss) attributable to COPLP common unitholders |
$ |
3,400 |
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$ |
(52,945 |
) |
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$ |
24,642 |
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$ |
21,869 |
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$ |
10,200 |
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$ |
12,702 |
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$ |
89,605 |
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$ |
57,981 |
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Basic EPU |
$ |
0.03 |
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$ |
(0.54 |
) |
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$ |
0.25 |
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$ |
0.22 |
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$ |
0.10 |
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$ |
0.13 |
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$ |
0.91 |
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$ |
0.59 |
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Diluted EPU |
$ |
0.03 |
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$ |
(0.54 |
) |
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$ |
0.25 |
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$ |
0.22 |
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$ |
0.10 |
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$ |
0.13 |
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$ |
0.91 |
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$ |
0.59 |
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