Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2018
Dec. 31, 2017
Properties, net:    
Operating properties, net $ 2,796,577 $ 2,737,611
Projects in development or held for future development 410,850 403,494
Total properties, net 3,207,427 3,141,105
Assets held for sale, net 42,226 42,226
Cash and cash equivalents 9,492 12,261
Investment in unconsolidated real estate joint venture 40,318 41,787
Accounts receivable (net of allowance for doubtful accounts of $850 and $607, respectively) 19,245 31,802
Deferred rent receivable (net of allowance of $438 and $364, respectively) 89,171 86,710
Intangible assets on real estate acquisitions, net 47,065 59,092
Deferred leasing costs (net of accumulated amortization of $30,832 and $29,560, respectively) 49,510 48,322
Investing receivables 55,688 57,493
Interest rate derivatives 10,875 3,073
Prepaid expenses and other assets, net 79,349 71,334
Total assets 3,650,366 3,595,205
Liabilities:    
Debt, net 1,808,030 1,828,333
Accounts payable and accrued expenses 90,224 108,137
Rents received in advance and security deposits 23,159 25,648
Dividends and distributions payable 30,483 28,921
Deferred revenue associated with operating leases 10,006 11,682
Deferred property sale 43,377 43,377
Capital lease obligation 660 15,853
Other liabilities 9,267 41,822
Total liabilities 2,015,206 2,103,773
Commitments and contingencies (Note 16)
Redeemable noncontrolling interests 25,431 23,125
Corporate Office Properties Trust’s shareholders’ equity:    
Common Shares of beneficial interest 1,088 1,013
Additional paid-in capital 2,390,484 2,201,047
Cumulative distributions in excess of net income (833,508) (802,085)
Accumulated other comprehensive income 10,108 2,167
Total Corporate Office Properties Trust’s shareholders’ equity 1,568,172 1,402,142
Noncontrolling interests in subsidiaries:    
Common units in COPLP 19,525 45,097
Preferred units in COPLP 8,800 8,800
Other consolidated entities 13,232 12,268
Noncontrolling interests in subsidiaries 41,557 66,165
Total equity 1,609,729 1,468,307
Total liabilities, redeemable noncontrolling interests and equity 3,650,366 3,595,205
Corporate Office Properties, L.P.    
Properties, net:    
Operating properties, net 2,796,577 2,737,611
Projects in development or held for future development 410,850 403,494
Total properties, net 3,207,427 3,141,105
Assets held for sale, net 42,226 42,226
Cash and cash equivalents 9,492 12,261
Investment in unconsolidated real estate joint venture 40,318 41,787
Accounts receivable (net of allowance for doubtful accounts of $850 and $607, respectively) 19,245 31,802
Deferred rent receivable (net of allowance of $438 and $364, respectively) 89,171 86,710
Intangible assets on real estate acquisitions, net 47,065 59,092
Deferred leasing costs (net of accumulated amortization of $30,832 and $29,560, respectively) 49,510 48,322
Investing receivables 55,688 57,493
Interest rate derivatives 10,875 3,073
Prepaid expenses and other assets, net 75,003 66,718
Total assets 3,646,020 3,590,589
Liabilities:    
Debt, net 1,808,030 1,828,333
Accounts payable and accrued expenses 90,224 108,137
Rents received in advance and security deposits 23,159 25,648
Dividends and distributions payable 30,483 28,921
Deferred revenue associated with operating leases 10,006 11,682
Deferred property sale 43,377 43,377
Capital lease obligation 660 15,853
Other liabilities 4,921 37,206
Total liabilities 2,010,860 2,099,157
Commitments and contingencies (Note 16)
Redeemable noncontrolling interests 25,431 23,125
Corporate Office Properties Trust’s shareholders’ equity:    
Common Shares of beneficial interest 1,577,299 1,445,022
Accumulated other comprehensive income 10,353 2,173
Total Corporate Office Properties Trust’s shareholders’ equity 1,596,452 1,455,995
Noncontrolling interests in subsidiaries:    
Noncontrolling interests in subsidiaries 13,277 12,312
Total equity 1,609,729 1,468,307
Total liabilities, redeemable noncontrolling interests and equity 3,646,020 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 September 30, 2018 and December 31, 2017 $ 8,800 $ 8,800