Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

v3.19.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Revenues    
Lease revenue $ 130,903 $ 127,133
Construction contract and other service revenues 16,950 27,198
Total revenues 148,940 155,476
Operating expenses    
Property operating expenses 49,445 50,951
Depreciation and amortization associated with real estate operations 34,796 33,512
Construction contract and other service expenses 16,326 26,216
General, administrative and leasing expenses 8,751 7,292
Business development expenses and land carry costs 1,113 1,614
Total operating expenses 110,431 119,585
Interest expense (18,674) (18,784)
Interest and other income 2,286 1,359
Gain on sales of real estate 0 (4)
Income before equity in income of unconsolidated entities and income taxes 22,121 18,462
Equity in income of unconsolidated entities 391 373
Income tax expense (194) (55)
Net income 22,318 18,780
Net income attributable to noncontrolling interests:    
Common units in COPLP (257) (544)
Preferred units in COPLP (165) (165)
Other consolidated entities (1,037) (921)
Net income attributable to COPLP 20,859 17,150
Net income attributable to COPT common shareholders $ 20,859 $ 17,150
Earnings per common share:    
Net income attributable to COPT common shareholders - basic (in dollars per share/unit) [1] $ 0.19 $ 0.17
Net income attributable to COPT common shareholders - diluted (in dollars per share/unit) [1] $ 0.19 $ 0.17
Other Property Revenue    
Revenues    
Total revenues $ 1,087 $ 1,145
Corporate Office Properties, L.P.    
Revenues    
Lease revenue 130,903 127,133
Construction contract and other service revenues 16,950 27,198
Total revenues 148,940 155,476
Operating expenses    
Property operating expenses 49,445 50,951
Depreciation and amortization associated with real estate operations 34,796 33,512
Construction contract and other service expenses 16,326 26,216
General, administrative and leasing expenses 8,751 7,292
Business development expenses and land carry costs 1,113 1,614
Total operating expenses 110,431 119,585
Interest expense (18,674) (18,784)
Interest and other income 2,286 1,359
Gain on sales of real estate 0 (4)
Income before equity in income of unconsolidated entities and income taxes 22,121 18,462
Equity in income of unconsolidated entities 391 373
Income tax expense (194) (55)
Net income 22,318 18,780
Net income attributable to noncontrolling interests:    
Net income attributable to noncontrolling interests in consolidated entities (1,037) (921)
Net income attributable to COPLP 21,281 17,859
Preferred unit distributions (165) (165)
Net income attributable to COPT common shareholders $ 21,116 $ 17,694
Earnings per common share:    
Net income attributable to COPT common shareholders - basic (in dollars per share/unit) [2] $ 0.19 $ 0.17
Net income attributable to COPT common shareholders - diluted (in dollars per share/unit) [2] $ 0.19 $ 0.17
Corporate Office Properties, L.P. | Other Property Revenue    
Revenues    
Total revenues $ 1,087 $ 1,145
[1] Basic and diluted earnings per common share are calculated based on amounts attributable to common shareholders of Corporate Office Properties Trust.
[2] Basic and diluted earnings per common unit are calculated based on amounts attributable to common unitholders of Corporate Office Properties, L.P.