Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.10.0.1
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2018
Accounting Policies [Abstract]  
Schedule of New Accounting Pronouncements and Changes in Accounting Principles
Our adoption of this guidance had the following effects on our consolidated statements of cash flows for the six months ended June 30, 2017 (in thousands):
 
 
As Previously Reported
 
Impact of Adoption
 
As
Adjusted
Net cash provided by operating activities
 
$
117,737

 
$
(208
)
 
$
117,529

Net cash used in investing activities
 
$
(58,950
)
 
$
173

 
$
(58,777
)
Net decrease in cash and cash equivalents and restricted cash
 
$
(199,257
)
 
$
(35
)
 
$
(199,292
)
Beginning of period cash and cash equivalents and restricted cash
 
$
209,863

 
$
2,756

 
$
212,619

End of period cash and cash equivalents and restricted cash
 
$
10,606

 
$
2,721

 
$
13,327

The tables below set forth the impact of the adoption of this guidance for amounts previously reported on the consolidated financial statements of COPT and subsidiaries (in thousands):
 
 
As of December 31, 2017
 
As of June 30, 2017
 
As of December 31, 2016
Consolidated Balance Sheets
 
As Previously Reported
 
Impact of Adoption
 
As
Adjusted
 
As Previously Reported
 
Impact of Adoption
 
As
Adjusted
 
As Previously Reported
 
Impact of Adoption
 
As
Adjusted
Investment in unconsolidated real estate joint venture
 
$
25,066

 
$
16,721

 
$
41,787

 
$
25,335

 
$
17,417

 
$
42,752

 
$
25,548

 
$
18,113

 
$
43,661

Cumulative distributions in excess of net income
 
$
(818,190
)
 
$
16,105

 
$
(802,085
)
 
$
(793,828
)
 
$
16,779

 
$
(777,049
)
 
$
(765,276
)
 
$
17,451

 
$
(747,825
)
Noncontrolling interests in subsidiaries
 
$
65,549

 
$
616

 
$
66,165

 
$
66,701

 
$
638

 
$
67,339

 
$
71,605

 
$
662

 
$
72,267

 
 
For the Three Months Ended June 30, 2017
 
For the Six Months Ended June 30, 2017
Consolidated Statements of Operations and Comprehensive Income
 
As Previously Reported
 
Impact of Adoption
 
As
Adjusted
 
As Previously Reported
 
Impact of Adoption
 
As
Adjusted
Equity in income of unconsolidated entities
 
$
718

 
$
(348
)
 
$
370

 
$
1,443

 
$
(696
)
 
$
747

Income before gain on sales of real estate
 
$
19,195

 
$
(348
)
 
$
18,847

 
$
38,045

 
$
(696
)
 
$
37,349

Net income
 
$
19,207

 
$
(348
)
 
$
18,859

 
$
42,295

 
$
(696
)
 
$
41,599

Net income attributable to noncontrolling interests - Common units in COPLP
 
$
(273
)
 
$
12

 
$
(261
)
 
$
(907
)
 
$
24

 
$
(883
)
Net income attributable to COPT
 
$
17,862

 
$
(336
)
 
$
17,526

 
$
39,217

 
$
(672
)
 
$
38,545

Net income attributable to COPT common shareholders
 
$
7,976

 
$
(336
)
 
$
7,640

 
$
26,151

 
$
(672
)
 
$
25,479

Comprehensive income
 
$
18,387

 
$
(348
)
 
$
18,039

 
$
42,883

 
$
(696
)
 
$
42,187

Comprehensive income attributable to COPT
 
$
17,069

 
$
(336
)
 
$
16,733

 
$
39,785

 
$
(672
)
 
$
39,113

 
 
 
 
 
 
 
 
 
 
 
 
 
The tables below set forth the impact of the adoption of this guidance for amounts previously reported on the consolidated financial statements of COPLP and subsidiaries (in thousands):
 
 
As of December 31, 2017
 
As of June 30, 2017
 
As of December 31, 2016
Consolidated Balance Sheets
 
As Previously Reported
 
Impact of Adoption
 
As
Adjusted
 
As Previously Reported
 
Impact of Adoption
 
As
Adjusted
 
As Previously Reported
 
Impact of Adoption
 
As
Adjusted
Investment in unconsolid. real estate joint venture
 
$
25,066

 
$
16,721

 
$
41,787

 
$
25,335

 
$
17,417

 
$
42,752

 
$
25,548

 
$
18,113

 
$
43,661

Common units
 
$
1,428,301

 
$
16,721

 
$
1,445,022

 
$
1,399,578

 
$
17,417

 
$
1,416,995

 
$
1,401,597

 
$
18,113

 
$
1,419,710

 
 
For the Three Months Ended June 30, 2017
 
For the Six Months Ended June 30, 2017
Consolidated Statements of Operations and Comprehensive Income
 
As Previously Reported
 
Impact of Adoption
 
As
Adjusted
 
As Previously Reported
 
Impact of Adoption
 
As
Adjusted
Equity in income of unconsolidated entities
 
$
718

 
$
(348
)
 
$
370

 
$
1,443

 
$
(696
)
 
$
747

Income before gain on sales of real estate
 
$
19,195

 
$
(348
)
 
$
18,847

 
$
38,045

 
$
(696
)
 
$
37,349

Net income
 
$
19,207

 
$
(348
)
 
$
18,859

 
$
42,295

 
$
(696
)
 
$
41,599

Net income attributable to COPLP
 
$
18,300

 
$
(348
)
 
$
17,952

 
$
40,454

 
$
(696
)
 
$
39,758

Net income attributable to COPLP common unitholders
 
$
8,249

 
$
(348
)
 
$
7,901

 
$
27,058

 
$
(696
)
 
$
26,362

Comprehensive income
 
$
18,387

 
$
(348
)
 
$
18,039

 
$
42,883

 
$
(696
)
 
$
42,187

Comprehensive income attributable to COPLP
 
$
17,480

 
$
(348
)
 
$
17,132

 
$
41,042

 
$
(696
)
 
$
40,346