Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2018
Dec. 31, 2017
Properties, net:    
Operating properties, net $ 2,740,264 $ 2,737,611
Projects in development or held for future development 418,015 403,494
Total properties, net 3,158,279 3,141,105
Assets held for sale, net 42,226 42,226
Cash and cash equivalents 8,888 12,261
Investment in unconsolidated real estate joint venture 41,311 41,787
Accounts receivable (net of allowance for doubtful accounts of $742 and $607, respectively) 23,982 31,802
Deferred rent receivable (net of allowance of $375 and $364, respectively) 87,985 86,710
Intangible assets on real estate acquisitions, net 54,600 59,092
Deferred leasing costs (net of accumulated amortization of $29,435 and $29,560, respectively) 47,886 48,322
Investing receivables 58,800 57,493
Prepaid expenses and other assets, net 72,281 74,407
Total assets 3,596,238 3,595,205
Liabilities:    
Debt, net 1,854,886 1,828,333
Accounts payable and accrued expenses 95,721 108,137
Rents received in advance and security deposits 26,569 25,648
Dividends and distributions payable 29,146 28,921
Deferred revenue associated with operating leases 11,246 11,682
Deferred property sale 43,377 43,377
Capital lease obligation 11,778 15,853
Other liabilities 17,643 41,822
Total liabilities 2,090,366 2,103,773
Commitments and contingencies (Note 16)
Redeemable noncontrolling interests 23,848 23,125
Corporate Office Properties Trust’s shareholders’ equity:    
Common Shares of beneficial interest 1,022 1,013
Additional paid-in capital 2,221,427 2,201,047
Cumulative distributions in excess of net income (813,302) (802,085)
Accumulated other comprehensive income 7,204 2,167
Total Corporate Office Properties Trust’s shareholders’ equity 1,416,351 1,402,142
Noncontrolling interests in subsidiaries:    
Common units in COPLP 44,327 45,097
Preferred units in COPLP 8,800 8,800
Other consolidated entities 12,546 12,268
Noncontrolling interests in subsidiaries 65,673 66,165
Total equity 1,482,024 1,468,307
Total liabilities, redeemable noncontrolling interests and equity 3,596,238 3,595,205
Corporate Office Properties, L.P.    
Properties, net:    
Operating properties, net 2,740,264 2,737,611
Projects in development or held for future development 418,015 403,494
Total properties, net 3,158,279 3,141,105
Assets held for sale, net 42,226 42,226
Cash and cash equivalents 8,888 12,261
Investment in unconsolidated real estate joint venture 41,311 41,787
Accounts receivable (net of allowance for doubtful accounts of $742 and $607, respectively) 23,982 31,802
Deferred rent receivable (net of allowance of $375 and $364, respectively) 87,985 86,710
Intangible assets on real estate acquisitions, net 54,600 59,092
Deferred leasing costs (net of accumulated amortization of $29,435 and $29,560, respectively) 47,886 48,322
Investing receivables 58,800 57,493
Prepaid expenses and other assets, net 67,800 69,791
Total assets 3,591,757 3,590,589
Liabilities:    
Debt, net 1,854,886 1,828,333
Accounts payable and accrued expenses 95,721 108,137
Rents received in advance and security deposits 26,569 25,648
Dividends and distributions payable 29,146 28,921
Deferred revenue associated with operating leases 11,246 11,682
Deferred property sale 43,377 43,377
Capital lease obligation 11,778 15,853
Other liabilities 13,162 37,206
Total liabilities 2,085,885 2,099,157
Commitments and contingencies (Note 16)
Redeemable noncontrolling interests 23,848 23,125
Corporate Office Properties Trust’s shareholders’ equity:    
Common Shares of beneficial interest 1,453,262 1,445,022
Accumulated other comprehensive income 7,370 2,173
Total Corporate Office Properties Trust’s shareholders’ equity 1,469,432 1,455,995
Noncontrolling interests in subsidiaries:    
Noncontrolling interests in subsidiaries 12,592 12,312
Total equity 1,482,024 1,468,307
Total liabilities, redeemable noncontrolling interests and equity 3,591,757 3,590,589
Limited Partner | Corporate Office Properties, L.P.    
Corporate Office Properties Trust’s shareholders’ equity:    
Preferred units held by limited partner, 352,000 preferred units outstanding at March 31, 2018 and December 31, 2017 $ 8,800 $ 8,800