Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.8.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
Properties, net:    
Operating properties, net $ 2,690,712 $ 2,671,831
Projects in development or held for future development 406,319 401,531
Total properties, net 3,097,031 3,073,362
Assets held for sale, net 74,415 94,654
Cash and cash equivalents 10,858 209,863
Restricted cash and marketable securities 6,173 8,193
Investment in unconsolidated real estate joint venture 25,194 25,548
Accounts receivable (net of allowance for doubtful accounts of $639 and $603, respectively) 27,624 34,438
Deferred rent receivable (net of allowance of $255 and $373, respectively) 84,743 90,219
Intangible assets on real estate acquisitions, net 64,055 78,351
Deferred leasing costs (net of accumulated amortization of $28,590 and $65,988, respectively) 47,033 41,214
Investing receivables 56,108 52,279
Prepaid expenses and other assets, net 66,538 72,764
Total assets 3,559,772 3,780,885
Liabilities:    
Debt, net 1,873,291 1,904,001
Accounts payable and accrued expenses 121,483 108,682
Rents received in advance and security deposits 26,223 29,798
Dividends and distributions payable 28,462 31,335
Deferred revenue associated with operating leases 12,047 12,666
Redeemable preferred shares/units 0 26,583
Capital lease obligation 16,347 0
Other liabilities 43,866 50,177
Total liabilities 2,121,719 2,163,242
Commitments and contingencies (Note 15)
Redeemable noncontrolling interests 23,269 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 September 30, 2017) 0 172,500
Common Shares of beneficial interest 996 985
Additional paid-in capital 2,150,067 2,116,581
Cumulative distributions in excess of net income (800,290) (765,276)
Accumulated other comprehensive loss (859) (1,731)
Total Corporate Office Properties Trust’s shareholders’ equity 1,349,914 1,523,059
Noncontrolling interests in subsidiaries:    
Common units in COPLP 44,089 49,228
Preferred units in COPLP 8,800 8,800
Other consolidated entities 11,981 13,577
Noncontrolling interests in subsidiaries 64,870 71,605
Total equity 1,414,784 1,594,664
Total liabilities, redeemable noncontrolling interest and equity 3,559,772 3,780,885
Corporate Office Properties, L.P.    
Properties, net:    
Operating properties, net 2,690,712 2,671,831
Projects in development or held for future development 406,319 401,531
Total properties, net 3,097,031 3,073,362
Assets held for sale, net 74,415 94,654
Cash and cash equivalents 10,858 209,863
Restricted cash and marketable securities 1,766 2,756
Investment in unconsolidated real estate joint venture 25,194 25,548
Accounts receivable (net of allowance for doubtful accounts of $639 and $603, respectively) 27,624 34,438
Deferred rent receivable (net of allowance of $255 and $373, respectively) 84,743 90,219
Intangible assets on real estate acquisitions, net 64,055 78,351
Deferred leasing costs (net of accumulated amortization of $28,590 and $65,988, respectively) 47,033 41,214
Investing receivables 56,108 52,279
Prepaid expenses and other assets, net 66,538 72,764
Total assets 3,555,365 3,775,448
Liabilities:    
Debt, net 1,873,291 1,904,001
Accounts payable and accrued expenses 121,483 108,682
Rents received in advance and security deposits 26,223 29,798
Dividends and distributions payable 28,462 31,335
Deferred revenue associated with operating leases 12,047 12,666
Redeemable preferred shares/units 0 26,583
Capital lease obligation 16,347 0
Other liabilities 39,459 44,740
Total liabilities 2,117,312 2,157,805
Commitments and contingencies (Note 15)
Redeemable noncontrolling interests 23,269 22,979
Corporate Office Properties Trust’s shareholders’ equity:    
Common Shares of beneficial interest 1,394,911 1,401,597
Accumulated other comprehensive loss (952) (1,854)
Total Corporate Office Properties Trust’s shareholders’ equity 1,402,759 1,581,043
Noncontrolling interests in subsidiaries:    
Noncontrolling interests in subsidiaries 12,025 13,621
Total equity 1,414,784 1,594,664
Total liabilities, redeemable noncontrolling interest and equity 3,555,365 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