Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.7.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2017
Dec. 31, 2016
Properties, net:    
Operating properties, net $ 2,688,174 $ 2,671,831
Projects in development or held for future development 446,385 401,531
Total properties, net 3,134,559 3,073,362
Assets held for sale, net 51,291 94,654
Cash and cash equivalents 10,606 209,863
Restricted cash and marketable securities 6,866 8,193
Investment in unconsolidated real estate joint venture 25,335 25,548
Accounts receivable (net of allowance for doubtful accounts of $435 and $603, respectively) 42,742 34,438
Deferred rent receivable (net of allowance of $125 and $373, respectively) 89,832 90,219
Intangible assets on real estate acquisitions, net 69,205 78,351
Deferred leasing costs (net of accumulated amortization of $29,720 and $65,988, respectively) 40,506 41,214
Investing receivables 54,598 52,279
Prepaid expenses and other assets, net 49,347 72,764
Total assets 3,574,887 3,780,885
Liabilities:    
Debt, net 1,897,734 1,904,001
Accounts payable and accrued expenses 95,267 108,682
Rents received in advance and security deposits 25,444 29,798
Dividends and distributions payable 28,462 31,335
Deferred revenue associated with operating leases 13,172 12,666
Redeemable preferred shares/units 0 26,583
Capital lease obligation 16,177 0
Other liabilities 56,076 50,177
Total liabilities 2,132,332 2,163,242
Commitments and contingencies (Note 15)
Redeemable noncontrolling interests 23,731 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, 6,900,000 shares issued and outstanding at December 31, 2016 and none at June 30, 2017) 0 172,500
Common Shares of beneficial interest 995 985
Additional paid-in capital 2,146,119 2,116,581
Cumulative distributions in excess of net income (793,828) (765,276)
Accumulated other comprehensive loss (1,163) (1,731)
Total Corporate Office Properties Trust’s shareholders’ equity 1,352,123 1,523,059
Noncontrolling interests in subsidiaries:    
Common units in COPLP 46,233 49,228
Preferred units in COPLP 8,800 8,800
Other consolidated entities 11,668 13,577
Noncontrolling interests in subsidiaries 66,701 71,605
Total equity 1,418,824 1,594,664
Total liabilities, redeemable noncontrolling interest and equity 3,574,887 3,780,885
Corporate Office Properties, L.P.    
Properties, net:    
Operating properties, net 2,688,174 2,671,831
Projects in development or held for future development 446,385 401,531
Total properties, net 3,134,559 3,073,362
Assets held for sale, net 51,291 94,654
Cash and cash equivalents 10,606 209,863
Restricted cash and marketable securities 2,721 2,756
Investment in unconsolidated real estate joint venture 25,335 25,548
Accounts receivable (net of allowance for doubtful accounts of $435 and $603, respectively) 42,742 34,438
Deferred rent receivable (net of allowance of $125 and $373, respectively) 89,832 90,219
Intangible assets on real estate acquisitions, net 69,205 78,351
Deferred leasing costs (net of accumulated amortization of $29,720 and $65,988, respectively) 40,506 41,214
Investing receivables 54,598 52,279
Prepaid expenses and other assets, net 49,347 72,764
Total assets 3,570,742 3,775,448
Liabilities:    
Debt, net 1,897,734 1,904,001
Accounts payable and accrued expenses 95,267 108,682
Rents received in advance and security deposits 25,444 29,798
Dividends and distributions payable 28,462 31,335
Deferred revenue associated with operating leases 13,172 12,666
Redeemable preferred shares/units 0 26,583
Capital lease obligation 16,177 0
Other liabilities 51,931 44,740
Total liabilities 2,128,187 2,157,805
Commitments and contingencies (Note 15)
Redeemable noncontrolling interests 23,731 22,979
Corporate Office Properties Trust’s shareholders’ equity:    
Common Shares of beneficial interest 1,399,578 1,401,597
Accumulated other comprehensive loss (1,266) (1,854)
Total Corporate Office Properties Trust’s shareholders’ equity 1,407,112 1,581,043
Noncontrolling interests in subsidiaries:    
Noncontrolling interests in subsidiaries 11,712 13,621
Total equity 1,418,824 1,594,664
Total liabilities, redeemable noncontrolling interest and equity 3,570,742 3,775,448
General Partner | Corporate Office Properties, L.P.    
Corporate Office Properties Trust’s shareholders’ equity:    
Preferred partners' capital accounts 0 172,500
Limited Partner | Corporate Office Properties, L.P.    
Corporate Office Properties Trust’s shareholders’ equity:    
Preferred partners' capital accounts $ 8,800 $ 8,800