Annual report pursuant to Section 13 and 15(d)

Equity - COPLP and Subsidiaries (Tables)

v3.6.0.2
Equity - COPLP and Subsidiaries (Tables)
 12 Months Ended
Dec. 31, 2016
Class of Stock [Line Items]  
Schedule of additional information pertaining to preferred shares
The table below sets forth additional information pertaining to COPT’s outstanding preferred shares (dollars in thousands, except per share data):
Series
 
# of Shares Issued
 
Aggregate Liquidation Preference
 
Month of Issuance
 
Annual Dividend Yield
 
 Annual Dividend Per Share
 
Earliest Redemption Date
 
Series K
 
531,667

 
$
26,583

 
January 2007
 
5.600
%
 
$
2.80000

 
1/9/2017
(1)
Series L
 
6,900,000

 
172,500

 
June 2012
 
7.375
%
 
$
1.84375

 
6/27/2017
 
 
 
7,431,667

 
$
199,083

 
 
 
 
 
 
 
 
 


(1) As discussed below, COPT redeemed all of its Series K Preferred Shares effective on January 21, 2017.
Corporate Office Properties, L.P. [Member]  
Class of Stock [Line Items]  
Schedule of additional information pertaining to preferred shares
The table below sets forth information pertaining to preferred units in COPLP held by COPT as of December 31, 2016 (dollars in thousands, except per unit data):
Series
 
# of Units Issued
 
Aggregate Liquidation Preference
 
Month of Issuance
 
Annual Distribution Yield
 
 Annual Distribution Per Unit
 
Earliest Redemption Date
 
Series K
 
531,667

 
$
26,583

 
January 2007
 
5.600
%
 
$
2.80000

 
1/9/2017
(1)
Series L
 
6,900,000

 
172,500

 
June 2012
 
7.375
%
 
$
1.84375

 
6/27/2017
 
 
 
7,431,667

 
$
199,083

 
 
 
 
 
 
 
 
 


(1)
As discussed further in Note 13, COPT redeemed all of its Series K Cumulative Redeemable Preferred Shares effective on January 21, 2017. Concurrently with this redemption, COPLP redeemed its Series K Preferred Units on the same terms. Since notification of this redemption occurred in December 2016, we present the liquidation preference of the related units as a liability on our consolidated balance sheet as of December 31, 2016; we also recognized a $17,000 decrease to net income available to common unitholders in 2016 pertaining to the units’ original issuance costs incurred. The liability associated with these units is classified in Level 2 of the fair value hierarchy.