Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Sep. 30, 2012
Dec. 31, 2011
Properties, net:    
Operating properties, net $ 2,487,919 $ 2,714,056
Projects in development or held for future development 614,595 638,919
Total properties, net 3,102,514 3,352,975
Assets held for sale, net 137,815 116,616
Cash and cash equivalents 5,009 5,559
Restricted cash and marketable securities 20,926 36,232
Accounts receivable (net of allowance for doubtful accounts of $4,754 and $3,546, respectively) 15,877 26,032
Deferred rent receivable 83,156 86,856
Intangible assets on real estate acquisitions, net 81,059 89,120
Deferred leasing and financing costs, net 58,753 66,515
Prepaid expenses and other assets 92,547 87,619
Total assets 3,597,656 3,867,524
Liabilities:    
Debt, net 2,169,315 2,426,303
Accounts payable and accrued expenses 87,390 96,425
Rents received in advance and security deposits 26,773 29,548
Dividends and distributions payable 26,954 35,038
Deferred revenue associated with operating leases 13,102 15,554
Distributions received in excess of investment in unconsolidated real estate joint venture 6,420 6,071
Interest rate derivatives 6,543 30,863
Other liabilities 10,938 9,657
Total liabilities 2,347,435 2,649,459
Commitments and contingencies (Note 16)      
Corporate Office Properties Trust's shareholders' equity:    
Preferred Shares of beneficial interest at liquidation preference ($0.01 par value; shares authorized of 25,000,000 at September 30, 2012 and 15,000,000 at December 31, 2011; shares issued and outstanding of 12,821,667 at September 30, 2012 and 8,121,667 at December 31, 2011) 333,833 216,333
Common Shares of beneficial interest ($0.01 par value; 125,000,000 shares authorized, shares issued and outstanding of 72,157,635 at September 30, 2012 and 72,011,324 at December 31, 2011) 722 720
Additional paid-in capital 1,455,558 1,452,393
Cumulative distributions in excess of net income (610,659) (532,288)
Accumulated other comprehensive loss (5,688) (1,733)
Total Corporate Office Properties Trust's shareholders' equity 1,173,766 1,135,425
Noncontrolling interests in subsidiaries:    
Common units in the Operating Partnership 48,973 55,281
Preferred units in the Operating Partnership 8,800 8,800
Other consolidated entities 18,682 18,559
Noncontrolling interests in subsidiaries 76,455 82,640
Total equity 1,250,221 1,218,065
Total liabilities and equity $ 3,597,656 $ 3,867,524