Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.10.0.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenues      
Rental revenue $ 407,686 $ 405,722 $ 417,711
Construction contract and other service revenues 60,859 102,840 48,364
Total revenues 578,112 612,820 574,328
Operating expenses      
Property operating expenses 201,035 190,964 197,530
Depreciation and amortization associated with real estate operations 137,116 134,228 132,719
Construction contract and other service expenses 58,326 99,618 45,481
Impairment losses 2,367 15,123 101,391
General, administrative and leasing expenses 28,900 30,837 36,553
Business development expenses and land carry costs 5,840 6,213 8,244
Total operating expenses 433,584 476,983 521,918
Interest expense (75,385) (76,983) (83,163)
Interest and other income 4,358 6,318 5,444
Gain on sales of real estate 2,340 9,890 59,679
Loss on early extinguishment of debt (258) (513) (1,110)
Income before equity in income of unconsolidated entities and income taxes 75,583 74,549 33,260
Equity in income of unconsolidated entities 2,697 1,490 752
Income tax benefit (expense) 363 (1,098) (244)
Net income 78,643 74,941 33,768
Net income attributable to noncontrolling interests:      
Common units in COPLP (1,742) (1,890) (507)
Preferred units in COPLP (660) (660) (660)
Other consolidated entities (3,940) (3,646) (3,711)
Net income attributable to COPT 72,301 68,745 28,890
Preferred share/ unit dividends/ distributions 0 (6,219) (14,297)
Issuance costs associated with redeemed preferred shares 0 (6,847) (17)
Net income attributable to COPT common shareholders $ 72,301 $ 55,679 $ 14,576
Earnings per common share: (1)      
Net income attributable to COPT common shareholders - basic (in dollars per share/unit) $ 0.69 $ 0.56 $ 0.15
Net income attributable to COPT common shareholders - diluted (in dollars per share/unit) $ 0.69 $ 0.56 $ 0.15
Corporate Office Properties, L.P. [Member]      
Revenues      
Rental revenue $ 407,686 $ 405,722 $ 417,711
Construction contract and other service revenues 60,859 102,840 48,364
Total revenues 578,112 612,820 574,328
Operating expenses      
Property operating expenses 201,035 190,964 197,530
Depreciation and amortization associated with real estate operations 137,116 134,228 132,719
Construction contract and other service expenses 58,326 99,618 45,481
Impairment losses 2,367 15,123 101,391
General, administrative and leasing expenses 28,900 30,837 36,553
Business development expenses and land carry costs 5,840 6,213 8,244
Total operating expenses 433,584 476,983 521,918
Interest expense (75,385) (76,983) (83,163)
Interest and other income 4,358 6,318 5,444
Gain on sales of real estate 2,340 9,890 59,679
Loss on early extinguishment of debt (258) (513) (1,110)
Income before equity in income of unconsolidated entities and income taxes 75,583 74,549 33,260
Equity in income of unconsolidated entities 2,697 1,490 752
Income tax benefit (expense) 363 (1,098) (244)
Net income 78,643 74,941 33,768
Net income attributable to noncontrolling interests in consolidated entities (3,940) (3,646) (3,715)
Net income attributable to noncontrolling interests:      
Net income attributable to COPT 74,703 71,295 30,053
Preferred share/ unit dividends/ distributions (660) (6,879) (14,957)
Issuance costs associated with redeemed preferred shares 0 (6,847) (17)
Net income attributable to COPT common shareholders $ 74,043 $ 57,569 $ 15,079
Earnings per common share: (1)      
Net income attributable to COPT common shareholders - basic (in dollars per share/unit) [1] $ 0.69 $ 0.56 $ 0.15
Net income attributable to COPT common shareholders - diluted (in dollars per share/unit) [1] $ 0.69 $ 0.56 $ 0.15
Tenant recoveries and other real estate operations [Member]      
Revenues      
Total revenues $ 109,567 $ 104,258 $ 108,253
Tenant recoveries and other real estate operations [Member] | Corporate Office Properties, L.P. [Member]      
Revenues      
Total revenues $ 109,567 $ 104,258 $ 108,253
[1] Basic and diluted earnings per common unit are calculated based on amounts attributable to common unitholders of Corporate Office Properties, L.P.