Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.7.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2017
Dec. 31, 2016
Properties, net:    
Operating properties, net $ 2,670,157 $ 2,671,831
Projects in development or held for future development 422,857 401,531
Total properties, net 3,093,014 3,073,362
Assets held for sale, net 41,391 94,654
Cash and cash equivalents 226,470 209,863
Restricted cash and marketable securities 6,439 8,193
Investment in unconsolidated real estate joint venture 25,417 25,548
Accounts receivable (net of allowance for doubtful accounts of $446 and $603, respectively) 29,431 34,438
Deferred rent receivable (net of allowance of $125 and $373, respectively) 89,410 90,219
Intangible assets on real estate acquisitions, net 73,748 78,351
Deferred leasing costs (net of accumulated amortization of $68,280 and $65,988, respectively) 40,753 41,214
Investing receivables 53,570 52,279
Prepaid expenses and other assets, net 59,723 72,764
Total assets 3,739,366 3,780,885
Liabilities:    
Debt, net 1,903,657 1,904,001
Accounts payable and accrued expenses 83,107 108,682
Rents received in advance and security deposits 28,393 29,798
Dividends and distributions payable 31,131 31,335
Deferred revenue associated with operating leases 11,750 12,666
Redeemable preferred shares of beneficial interest at liquidation preference 0 26,583
Other liabilities 55,784 50,177
Total liabilities 2,113,822 2,163,242
Commitments and contingencies (Note 15)
Redeemable noncontrolling interests 23,676 22,979
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 6,900,000 at March 31, 2017 and December 31, 2016) 172,500 172,500
Common Shares of beneficial interest 994 985
Additional paid-in capital 2,136,369 2,116,581
Cumulative distributions in excess of net income (774,445) (765,276)
Accumulated other comprehensive loss (370) (1,731)
Total Corporate Office Properties Trust’s shareholders’ equity 1,535,048 1,523,059
Noncontrolling interests in subsidiaries:    
Common units in COPLP 46,683 49,228
Preferred units in COPLP 8,800 8,800
Other consolidated entities 11,337 13,577
Noncontrolling interests in subsidiaries 66,820 71,605
Total equity 1,601,868 1,594,664
Total liabilities, redeemable noncontrolling interest and equity 3,739,366 3,780,885
Corporate Office Properties, L.P.    
Properties, net:    
Operating properties, net 2,670,157 2,671,831
Projects in development or held for future development 422,857 401,531
Total properties, net 3,093,014 3,073,362
Assets held for sale, net 41,391 94,654
Cash and cash equivalents 226,470 209,863
Restricted cash and marketable securities 2,288 2,756
Investment in unconsolidated real estate joint venture 25,417 25,548
Accounts receivable (net of allowance for doubtful accounts of $446 and $603, respectively) 29,431 34,438
Deferred rent receivable (net of allowance of $125 and $373, respectively) 89,410 90,219
Intangible assets on real estate acquisitions, net 73,748 78,351
Deferred leasing costs (net of accumulated amortization of $68,280 and $65,988, respectively) 40,753 41,214
Investing receivables 53,570 52,279
Prepaid expenses and other assets, net 59,723 72,764
Total assets 3,735,215 3,775,448
Liabilities:    
Debt, net 1,903,657 1,904,001
Accounts payable and accrued expenses 83,107 108,682
Rents received in advance and security deposits 28,393 29,798
Dividends and distributions payable 31,131 31,335
Deferred revenue associated with operating leases 11,750 12,666
Redeemable preferred shares of beneficial interest at liquidation preference 0 26,583
Other liabilities 51,633 44,740
Total liabilities 2,109,671 2,157,805
Commitments and contingencies (Note 15)
Redeemable noncontrolling interests 23,676 22,979
Corporate Office Properties Trust’s shareholders’ equity:    
Common Shares of beneficial interest 1,409,632 1,401,597
Accumulated other comprehensive loss (446) (1,854)
Total Corporate Office Properties Trust’s shareholders’ equity 1,590,486 1,581,043
Noncontrolling interests in subsidiaries:    
Noncontrolling interests in subsidiaries 11,382 13,621
Total equity 1,601,868 1,594,664
Total liabilities, redeemable noncontrolling interest and equity 3,735,215 3,775,448
General Partner | Corporate Office Properties, L.P.    
Corporate Office Properties Trust’s shareholders’ equity:    
Preferred partners' capital accounts 172,500 172,500
Limited Partner | Corporate Office Properties, L.P.    
Corporate Office Properties Trust’s shareholders’ equity:    
Preferred partners' capital accounts $ 8,800 $ 8,800