Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

v3.19.2
Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues        
Lease revenue $ 131,415 $ 127,907 $ 262,318 $ 255,040
Construction contract and other service revenues 42,299 17,581 59,249 44,779
Total revenues 175,070 146,743 324,010 302,219
Operating expenses        
Property operating expenses 47,886 49,446 97,331 100,397
Depreciation and amortization associated with real estate operations 34,802 33,190 69,598 66,702
Construction contract and other service expenses 41,002 16,941 57,328 43,157
General, administrative and leasing expenses 9,386 7,628 18,137 14,920
Business development expenses and land carry costs 870 1,234 1,983 2,848
Total operating expenses 133,946 108,439 244,377 228,024
Interest expense (18,475) (18,945) (37,149) (37,729)
Interest and other income 1,849 1,439 4,135 2,798
Gain on sales of real estate 84,469 (23) 84,469 (27)
Income before equity in income of unconsolidated entities and income taxes 108,967 20,775 131,088 39,237
Equity in income of unconsolidated entities 420 373 811 746
Income tax benefit (expense) 176 (63) (18) (118)
Net income 109,563 21,085 131,881 39,865
Net income attributable to noncontrolling interests:        
Common units in COPLP (1,339) (608) (1,596) (1,152)
Preferred units in COPLP (165) (165) (330) (330)
Other consolidated entities (1,268) (878) (2,305) (1,799)
Net income attributable to COPLP 106,791 19,434 127,650 36,584
Net income attributable to COPT common shareholders $ 106,791 $ 19,434 $ 127,650 $ 36,584
Earnings per common share:        
Net income attributable to COPT common shareholders - basic (in dollars per share/unit) $ 0.95 [1] $ 0.19 [1] $ 1.15 $ 0.36
Net income attributable to COPT common shareholders - diluted (in dollars per share/unit) $ 0.95 [1] $ 0.19 [1] $ 1.15 $ 0.36
Other Property Revenue        
Revenues        
Total revenues $ 1,356 $ 1,255 $ 2,443 $ 2,400
Corporate Office Properties, L.P.        
Revenues        
Lease revenue 131,415 127,907 262,318 255,040
Construction contract and other service revenues 42,299 17,581 59,249 44,779
Total revenues 175,070 146,743 324,010 302,219
Operating expenses        
Property operating expenses 47,886 49,446 97,331 100,397
Depreciation and amortization associated with real estate operations 34,802 33,190 69,598 66,702
Construction contract and other service expenses 41,002 16,941 57,328 43,157
General, administrative and leasing expenses 9,386 7,628 18,137 14,920
Business development expenses and land carry costs 870 1,234 1,983 2,848
Total operating expenses 133,946 108,439 244,377 228,024
Interest expense (18,475) (18,945) (37,149) (37,729)
Interest and other income 1,849 1,439 4,135 2,798
Gain on sales of real estate 84,469 (23) 84,469 (27)
Income before equity in income of unconsolidated entities and income taxes 108,967 20,775 131,088 39,237
Equity in income of unconsolidated entities 420 373 811 746
Income tax benefit (expense) 176 (63) (18) (118)
Net income 109,563 21,085 131,881 39,865
Net income attributable to noncontrolling interests:        
Net income attributable to noncontrolling interests in consolidated entities (1,268) (878) (2,305) (1,799)
Net income attributable to COPLP 108,295 20,207 129,576 38,066
Preferred unit distributions (165) (165) (330) (330)
Net income attributable to COPT common shareholders $ 108,130 $ 20,042 $ 129,246 $ 37,736
Earnings per common share:        
Net income attributable to COPT common shareholders - basic (in dollars per share/unit) $ 0.95 [2] $ 0.19 [2] $ 1.15 $ 0.36
Net income attributable to COPT common shareholders - diluted (in dollars per share/unit) $ 0.95 [2] $ 0.19 [2] $ 1.15 $ 0.36
Corporate Office Properties, L.P. | Other Property Revenue        
Revenues        
Total revenues $ 1,356 $ 1,255 $ 2,443 $ 2,400
[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.