Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2018
Dec. 31, 2017
Properties, net:    
Operating properties, net $ 2,760,632 $ 2,737,611
Projects in development or held for future development 422,905 403,494
Total properties, net 3,183,537 3,141,105
Assets held for sale, net 42,226 42,226
Cash and cash equivalents 8,472 12,261
Investment in unconsolidated real estate joint venture 40,806 41,787
Accounts receivable (net of allowance for doubtful accounts of $811 and $607, respectively) 23,656 31,802
Deferred rent receivable (net of allowance of $423 and $364, respectively) 89,606 86,710
Intangible assets on real estate acquisitions, net 50,586 59,092
Deferred leasing costs (net of accumulated amortization of $29,546 and $29,560, respectively) 48,183 48,322
Investing receivables 54,427 57,493
Prepaid expenses and other assets, net 70,863 74,407
Total assets 3,612,362 3,595,205
Liabilities:    
Debt, net 1,871,445 1,828,333
Accounts payable and accrued expenses 88,885 108,137
Rents received in advance and security deposits 24,905 25,648
Dividends and distributions payable 29,449 28,921
Deferred revenue associated with operating leases 10,783 11,682
Deferred property sale 43,377 43,377
Capital lease obligation 640 15,853
Other liabilities 9,849 41,822
Total liabilities 2,079,333 2,103,773
Commitments and contingencies (Note 16)
Redeemable noncontrolling interests 24,544 23,125
Corporate Office Properties Trust’s shareholders’ equity:    
Common Shares of beneficial interest 1,033 1,013
Additional paid-in capital 2,254,430 2,201,047
Cumulative distributions in excess of net income (822,270) (802,085)
Accumulated other comprehensive income 9,012 2,167
Total Corporate Office Properties Trust’s shareholders’ equity 1,442,205 1,402,142
Noncontrolling interests in subsidiaries:    
Common units in COPLP 44,651 45,097
Preferred units in COPLP 8,800 8,800
Other consolidated entities 12,829 12,268
Noncontrolling interests in subsidiaries 66,280 66,165
Total equity 1,508,485 1,468,307
Total liabilities, redeemable noncontrolling interests and equity 3,612,362 3,595,205
Corporate Office Properties, L.P.    
Properties, net:    
Operating properties, net 2,760,632 2,737,611
Projects in development or held for future development 422,905 403,494
Total properties, net 3,183,537 3,141,105
Assets held for sale, net 42,226 42,226
Cash and cash equivalents 8,472 12,261
Investment in unconsolidated real estate joint venture 40,806 41,787
Accounts receivable (net of allowance for doubtful accounts of $811 and $607, respectively) 23,656 31,802
Deferred rent receivable (net of allowance of $423 and $364, respectively) 89,606 86,710
Intangible assets on real estate acquisitions, net 50,586 59,092
Deferred leasing costs (net of accumulated amortization of $29,546 and $29,560, respectively) 48,183 48,322
Investing receivables 54,427 57,493
Prepaid expenses and other assets, net 66,669 69,791
Total assets 3,608,168 3,590,589
Liabilities:    
Debt, net 1,871,445 1,828,333
Accounts payable and accrued expenses 88,885 108,137
Rents received in advance and security deposits 24,905 25,648
Dividends and distributions payable 29,449 28,921
Deferred revenue associated with operating leases 10,783 11,682
Deferred property sale 43,377 43,377
Capital lease obligation 640 15,853
Other liabilities 5,655 37,206
Total liabilities 2,075,139 2,099,157
Commitments and contingencies (Note 16)
Redeemable noncontrolling interests 24,544 23,125
Corporate Office Properties Trust’s shareholders’ equity:    
Common Shares of beneficial interest 1,477,575 1,445,022
Accumulated other comprehensive income 9,235 2,173
Total Corporate Office Properties Trust’s shareholders’ equity 1,495,610 1,455,995
Noncontrolling interests in subsidiaries:    
Noncontrolling interests in subsidiaries 12,875 12,312
Total equity 1,508,485 1,468,307
Total liabilities, redeemable noncontrolling interests and equity 3,608,168 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 June 30, 2018 and December 31, 2017 $ 8,800 $ 8,800