Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share ("EPS") and Earnings Per Unit ("EPU") (Tables)

v3.8.0.1
Earnings Per Share ("EPS") and Earnings Per Unit ("EPU") (Tables)
9 Months Ended
Sep. 30, 2017
Earnings Per Share [Line Items]  
Summary of calculation of numerator and denominator in basic and diluted earnings per share
Summaries of the numerator and denominator for purposes of basic and diluted EPS calculations are set forth below (in thousands, except per share data):
 
For the Three Months Ended September 30,
 
For the Nine Months Ended September 30,
 
2017
 
2016
 
2017
 
2016
Numerator:
 

 
 

 
 
 
 
Net income (loss) attributable to COPT
$
20,916

 
$
27,299

 
$
60,133

 
$
(13,294
)
Preferred share dividends

 
(3,552
)
 
(6,219
)
 
(10,657
)
Issuance costs associated with redeemed preferred shares

 

 
(6,847
)
 

Income attributable to share-based compensation awards
(95
)
 
(105
)
 
(337
)
 
(319
)
Numerator for basic and diluted EPS on net income (loss) attributable to COPT common shareholders
$
20,821

 
$
23,642

 
$
46,730

 
$
(24,270
)
Denominator (all weighted averages):
 

 
 

 
 
 
 
Denominator for basic EPS (common shares)
99,112

 
94,433

 
98,855

 
94,312

Dilutive effect of share-based compensation awards
146

 
81

 
154

 

Denominator for diluted EPS (common shares)
99,258

 
94,514

 
99,009

 
94,312

Basic EPS:
 

 
 

 
 
 
 
Net income (loss) attributable to COPT common shareholders
$
0.21

 
$
0.25

 
$
0.47

 
$
(0.26
)
Diluted EPS:
 

 
 

 
 
 
 
Net income (loss) attributable to COPT common shareholders
$
0.21

 
$
0.25

 
$
0.47

 
$
(0.26
)
Schedule of securities excluded from computation of diluted earnings per share
Our diluted EPS computations do not include the effects of the following securities since the conversions of such securities would increase diluted EPS for the respective periods (in thousands):
 
Weighted Average Shares Excluded from Denominator
 
For the Three Months Ended September 30,
 
For the Nine Months Ended September 30,
 
2017
 
2016
 
2017
 
2016
Conversion of common units
3,350

 
3,591

 
3,400

 
3,648

Conversion of Series I Preferred Units
176

 
176

 
176

 
176

Conversion of Series K Preferred Shares

 
434

 

 
434

Corporate Office Properties, L.P.  
Earnings Per Share [Line Items]  
Summary of calculation of numerator and denominator in basic and diluted earnings per share
Summaries of the numerator and denominator for purposes of basic and diluted EPU calculations are set forth below (in thousands, except per unit data):
 
For the Three Months Ended September 30,
 
For the Nine Months Ended September 30,
 
2017
 
2016
 
2017
 
2016
Numerator:
 

 
 

 
 
 
 
Net income (loss) attributable to COPLP common unitholders
$
21,785

 
$
28,359

 
$
62,239

 
$
(13,751
)
Preferred unit distributions
(165
)
 
(3,717
)
 
(6,714
)
 
(11,152
)
Issuance costs associated with redeemed preferred units

 

 
(6,847
)
 

Income attributable to share-based compensation awards
(95
)
 
(105
)
 
(337
)
 
(319
)
Numerator for basic and diluted EPU on net income (loss) attributable to COPLP common unitholders
$
21,525

 
$
24,537

 
$
48,341

 
$
(25,222
)
Denominator (all weighted averages):
 

 
 

 
 
 
 
Denominator for basic EPU (common units)
102,462

 
98,024

 
102,255

 
97,960

Dilutive effect of share-based compensation awards
146

 
81

 
154

 

Denominator for diluted EPU (common units)
102,608

 
98,105

 
102,409

 
97,960

Basic EPU:
 

 
 

 
 
 
 
Net income (loss) attributable to COPLP common unitholders
$
0.21

 
$
0.25

 
$
0.47

 
$
(0.26
)
Diluted EPU:
 

 
 

 
 
 
 
Net income (loss) attributable to COPLP common unitholders
$
0.21

 
$
0.25

 
$
0.47

 
$
(0.26
)
Schedule of securities excluded from computation of diluted earnings per share
Our diluted EPU computations do not include the effects of the following securities since the conversions of such securities would increase diluted EPU for the respective periods (in thousands):
 
Weighted Average Units Excluded from Denominator
 
For the Three Months Ended September 30,
 
For the Nine Months Ended September 30,
 
2017
 
2016
 
2017
 
2016
Conversion of Series I preferred units
176

 
176

 
176

 
176

Conversion of Series K preferred units

 
434

 

 
434