Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.10.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Properties, net:    
Operating properties, net $ 2,847,265 $ 2,737,611
Projects in development or held for future development 403,361 403,494
Total properties, net 3,250,626 3,141,105
Assets held for sale, net 0 42,226
Cash and cash equivalents 8,066 12,261
Investment in unconsolidated real estate joint venture 39,845 41,787
Accounts receivable (net of allowance for doubtful accounts of $830 and $607, respectively) 26,277 31,802
Deferred rent receivable (net of allowance of $264 and $364, respectively) 89,350 86,710
Intangible assets on real estate acquisitions, net 43,470 59,092
Deferred leasing costs (net of accumulated amortization of $31,994 and $29,560, respectively) 50,191 48,322
Investing receivables 56,982 57,493
Interest rate derivatives 5,617 3,073
Prepaid expenses and other assets, net 85,581 71,334
Total assets 3,656,005 3,595,205
Liabilities:    
Debt, net 1,823,909 1,828,333
Accounts payable and accrued expenses 92,855 108,137
Rents received in advance and security deposits 30,079 25,648
Dividends and distributions payable 30,856 28,921
Deferred revenue associated with operating leases 9,125 11,682
Deferred property sale 0 43,377
Capital lease obligation 660 15,853
Other liabilities 15,213 41,822
Total liabilities 2,002,697 2,103,773
Commitments and contingencies (Note 20)
Redeemable noncontrolling interests 26,260 23,125
Corporate Office Properties Trust’s shareholders’ equity:    
Common Shares of beneficial interest 1,102 1,013
Additional paid-in capital 2,431,355 2,201,047
Cumulative distributions in excess of net income (846,808) (802,085)
Accumulated other comprehensive (loss) income (238) 2,167
Total Corporate Office Properties Trust’s shareholders’ equity 1,585,411 1,402,142
Noncontrolling interests in subsidiaries:    
Common units in COPLP 19,168 45,097
Preferred units in COPLP 8,800 8,800
Other consolidated entities 13,669 12,268
Noncontrolling interests in subsidiaries 41,637 66,165
Total equity 1,627,048 1,468,307
Total liabilities, redeemable noncontrolling interests and equity 3,656,005 3,595,205
Corporate Office Properties, L.P. [Member]    
Properties, net:    
Operating properties, net 2,847,265 2,737,611
Projects in development or held for future development 403,361 403,494
Total properties, net 3,250,626 3,141,105
Assets held for sale, net 0 42,226
Cash and cash equivalents 8,066 12,261
Investment in unconsolidated real estate joint venture 39,845 41,787
Accounts receivable (net of allowance for doubtful accounts of $830 and $607, respectively) 26,277 31,802
Deferred rent receivable (net of allowance of $264 and $364, respectively) 89,350 86,710
Intangible assets on real estate acquisitions, net 43,470 59,092
Deferred leasing costs (net of accumulated amortization of $31,994 and $29,560, respectively) 50,191 48,322
Investing receivables 56,982 57,493
Interest rate derivatives 5,617 3,073
Prepaid expenses and other assets, net 81,713 66,718
Total assets 3,652,137 3,590,589
Liabilities:    
Debt, net 1,823,909 1,828,333
Accounts payable and accrued expenses 92,855 108,137
Rents received in advance and security deposits 30,079 25,648
Dividends and distributions payable 30,856 28,921
Deferred revenue associated with operating leases 9,125 11,682
Deferred property sale 0 43,377
Capital lease obligation 660 15,853
Other liabilities 11,345 37,206
Total liabilities 1,998,829 2,099,157
Commitments and contingencies (Note 20)
Redeemable noncontrolling interests 26,260 23,125
Corporate Office Properties Trust’s shareholders’ equity:    
Common Shares of beneficial interest 1,604,655 1,445,022
Accumulated other comprehensive (loss) income (121) 2,173
Total Corporate Office Properties Trust’s shareholders’ equity 1,613,334 1,455,995
Noncontrolling interests in subsidiaries:    
Noncontrolling interests in subsidiaries 13,714 12,312
Total equity 1,627,048 1,468,307
Total liabilities, redeemable noncontrolling interests and equity 3,652,137 3,590,589
Corporate Office Properties, L.P. [Member] | Limited Partner [Member]    
Corporate Office Properties Trust’s shareholders’ equity:    
Preferred units held by limited partner, 352,000 preferred units outstanding at December 31, 2018 and 2017 $ 8,800 $ 8,800