Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

v3.10.0.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues        
Rental revenue $ 102,132 $ 102,275 $ 304,087 $ 304,237
Construction contract and other service revenues 8,423 29,786 53,202 65,958
Total revenues 137,411 157,017 439,630 448,253
Expenses        
Property operating expenses 49,340 46,368 149,737 143,515
Depreciation and amortization associated with real estate operations 34,195 34,438 100,897 100,290
Construction contract and other service expenses 8,058 28,788 51,215 63,589
Impairment (recoveries) losses 0 (161) 0 1,464
General, administrative and leasing expenses 6,899 7,368 21,819 23,838
Business development expenses and land carry costs 1,567 1,277 4,415 4,567
Total operating expenses 100,059 118,078 328,083 337,263
Operating income 37,352 38,939 111,547 110,990
Interest expense (19,181) (19,615) (56,910) (57,772)
Interest and other income 1,486 1,508 4,284 4,817
Gain on sales of real estate 0 1,188 (27) 5,438
Loss on early extinguishment of debt 0 0 0 (513)
Income before equity in income of unconsolidated entities and income taxes 19,657 22,020 58,894 62,960
Equity in income of unconsolidated entities 374 371 1,120 1,118
Income tax benefit (expense) 291 (57) 173 (145)
Net income 20,322 22,334 60,187 63,933
Net income attributable to noncontrolling interests:        
Common units in COPLP (380) (693) (1,532) (1,576)
Preferred units in COPLP (165) (165) (495) (495)
Other consolidated entities (1,080) (897) (2,879) (2,738)
Net income attributable to COPT 18,697 20,579 55,281 59,124
Preferred share/unit dividends/distributions 0 0 0 (6,219)
Issuance costs associated with redeemed preferred shares/units 0 0 0 (6,847)
Net income attributable to COPT common shareholders $ 18,697 $ 20,579 $ 55,281 $ 46,058
Earnings per common share:        
Net income attributable to COPT common shareholders - basic (in dollars per share/unit) $ 0.18 $ 0.21 $ 0.54 $ 0.46
Net income attributable to COPT common shareholders - diluted (in dollars per share/unit) $ 0.18 $ 0.21 $ 0.54 $ 0.46
Corporate Office Properties, L.P.        
Revenues        
Rental revenue $ 102,132 $ 102,275 $ 304,087 $ 304,237
Construction contract and other service revenues 8,423 29,786 53,202 65,958
Total revenues 137,411 157,017 439,630 448,253
Expenses        
Property operating expenses 49,340 46,368 149,737 143,515
Depreciation and amortization associated with real estate operations 34,195 34,438 100,897 100,290
Construction contract and other service expenses 8,058 28,788 51,215 63,589
Impairment (recoveries) losses 0 (161) 0 1,464
General, administrative and leasing expenses 6,899 7,368 21,819 23,838
Business development expenses and land carry costs 1,567 1,277 4,415 4,567
Total operating expenses 100,059 118,078 328,083 337,263
Operating income 37,352 38,939 111,547 110,990
Interest expense (19,181) (19,615) (56,910) (57,772)
Interest and other income 1,486 1,508 4,284 4,817
Gain on sales of real estate 0 1,188 (27) 5,438
Loss on early extinguishment of debt 0 0 0 (513)
Income before equity in income of unconsolidated entities and income taxes 19,657 22,020 58,894 62,960
Equity in income of unconsolidated entities 374 371 1,120 1,118
Income tax benefit (expense) 291 (57) 173 (145)
Net income 20,322 22,334 60,187 63,933
Net income attributable to noncontrolling interests:        
Net income attributable to noncontrolling interests in consolidated entities (1,080) (897) (2,879) (2,738)
Net income attributable to COPT 19,242 21,437 57,308 61,195
Preferred share/unit dividends/distributions (165) (165) (495) (6,714)
Issuance costs associated with redeemed preferred shares/units 0 0 0 (6,847)
Net income attributable to COPT common shareholders $ 19,077 $ 21,272 $ 56,813 $ 47,634
Earnings per common share:        
Net income attributable to COPT common shareholders - basic (in dollars per share/unit) $ 0.18 $ 0.21 $ 0.54 $ 0.46
Net income attributable to COPT common shareholders - diluted (in dollars per share/unit) $ 0.18 $ 0.21 $ 0.54 $ 0.46
Tenant Recoveries and Other Real Estate Operations [Member]        
Revenues        
Total revenues $ 26,856 $ 24,956 $ 82,341 $ 78,058
Tenant Recoveries and Other Real Estate Operations [Member] | Corporate Office Properties, L.P.        
Revenues        
Total revenues $ 26,856 $ 24,956 $ 82,341 $ 78,058