Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

v2.4.0.6
Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Revenues    
Rental revenue $ 95,295 $ 89,859
Tenant recoveries and other real estate operations revenue 21,440 20,802
Construction contract and other service revenues 14,262 21,534
Total revenues 130,997 132,195
Expenses    
Property operating expenses 42,575 41,253
Depreciation and amortization associated with real estate operations 28,252 27,834
Construction contract and other service expenses 13,477 20,607
Impairment losses (recoveries) 1,857 (4,836)
General, administrative and leasing expenses 7,820 9,569
Business development expenses and land carry costs 1,359 1,576
Total operating expenses 95,340 96,003
Operating income 35,657 36,192
Interest expense (22,307) (24,431)
Interest and other income 946 1,217
Loss on early extinguishment of debt (5,184) 0
Income from continuing operations before equity in income (loss) of unconsolidated entities and income taxes 9,112 12,978
Equity in income (loss) of unconsolidated entities 41 (89)
Income tax expense (16) (204)
Income from continuing operations 9,137 12,685
Discontinued operations 3,786 (2,450)
Income before gain on sales of real estate 12,923 10,235
Gain on sales of real estate 2,354 0
Net income 15,277 10,235
Net (income) loss attributable to noncontrolling interests:    
Common units in the Operating Partnership (429) (373)
Preferred units in the Operating Partnership (165) (165)
Other consolidated entities 337 598
Net income attributable to Corporate Office Properties Trust 15,020 10,295
Preferred share dividends (6,106) (4,025)
Net income attributable to Corporate Office Properties Trust common shareholders 8,914 6,270
Net income attributable to Corporate Office Properties Trust:    
Income from continuing operations 11,437 12,588
Discontinued operations, net 3,583 (2,293)
Net income attributable to Corporate Office Properties Trust $ 15,020 $ 10,295
Basic earnings per common share    
Income from continuing operations (in dollars per share) $ 0.06 [1] $ 0.12 [1]
Discontinued operations (in dollars per share) $ 0.05 [1] $ (0.03) [1]
Net income attributable to COPT common shareholders (in dollars per share) $ 0.11 [1] $ 0.09 [1]
Diluted earnings per common share    
Income from continuing operations (in dollars per share) $ 0.06 [1] $ 0.12 [1]
Discontinued operations (in dollars per share) $ 0.05 [1] $ (0.03) [1]
Net income attributable to COPT common shareholders (in dollars per share) $ 0.11 [1] $ 0.09 [1]
Dividends declared per common share (in dollars per share) $ 0.275 $ 0.275
[1] Basic and diluted earnings per common share are calculated based on amounts attributable to common shareholders of Corporate Office Properties Trust.