Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Equity

v3.19.2
Consolidated Statements of Equity - USD ($)
$ in Thousands
Total
Forward Equity Sale Agreement
Common Shares
Common Shares
Forward Equity Sale Agreement
Additional Paid-in Capital
Additional Paid-in Capital
Forward Equity Sale Agreement
Cumulative Distributions in Excess of Net Income
Accumulated Other Comprehensive Income (Loss)
Noncontrolling Interests
Corporate Office Properties, L.P.
Corporate Office Properties, L.P.
Forward Equity Sale Agreement
Corporate Office Properties, L.P.
Common Shares
Corporate Office Properties, L.P.
Common Shares
Forward Equity Sale Agreement
Corporate Office Properties, L.P.
Accumulated Other Comprehensive Income (Loss)
Corporate Office Properties, L.P.
Noncontrolling Interests
Corporate Office Properties, L.P.
Limited Partner
Corporate Office Properties, L.P.
Limited Partner
Preferred Shares
Increase (Decrease) in Shareholders' Equity                                  
Cumulative effect of accounting change for adoption of hedge accounting guidance             $ (276) $ 276       $ (276)   $ 276      
Balance, as adjusted $ 1,468,307   $ 1,013   $ 2,201,047   (802,361) 2,443 $ 66,165 $ 1,468,307   1,444,746   2,449 $ 12,312   $ 8,800
Balance (COPT: 101,292,299 and 110,241,868 shares as of December 31, 2017 and 2018 and 102,150,358, respectively and 111,939,790 shares as of March 31, 2018 and 2019, respectively) at Dec. 31, 2017 $ 1,468,307   1,013   2,201,047   (802,085) 2,167 66,165 1,468,307   $ 1,445,022   2,173 12,312   $ 8,800
Balance (preferred units) at Dec. 31, 2017                                 352,000
Balance (in units/shares) at Dec. 31, 2017 101,292,299                     104,543,177          
Increase (Decrease) in Shareholders' Equity                                  
Conversion of common units to common shares (COPT: 53,817 and 5,500 shares for the six months ended June 30, 2018 and 2019, respectively) $ 0   1   760       (761)                
Common shares issued under forward equity sale agreements (COPT: 1,100,000 shares for the three months ended June 30, 2018 and 1,777,000 and 1,614,087 shares for the six months ended June 30, 2018 and 2019, respectively) $ 52,227     $ 18   $ 52,209         $ 52,227   $ 52,227        
Common shares issued under forward equity sale agreements (in units/shares)   1,777,000                     1,777,000        
Share-based compensation issuance, net of redemptions (in units/shares) 137,379                     137,379          
Share-based compensation issuance, net of redemptions (COPT: 10,137 and 10,097 shares for the three months ended June 30, 2018 and 2019 and 137,379 and 88,432 shares issued, net of redemptions for the six months ended June 30, 2018 and 2019, respectively) $ 3,400   1   3,399         3,400   $ 3,400          
Redemption of vested equity awards (1,525)       (1,525)         (1,525)   (1,525)          
Adjustments to noncontrolling interests resulting from changes in ownership of COPLP 0       (702)       702                
Comprehensive income 45,422           36,584 6,569 2,269 45,422   37,736   6,786 570   $ 330
Dividends/Distributions (56,493)           (56,493)     (58,581)   (58,251)         $ (330)
Distributions to owners of common and preferred units in COPLP (2,088)               (2,088)                
Distributions to noncontrolling interests in other consolidated entities/subsidiaries (7)               (7) (7)         (7)    
Adjustment to arrive at fair value of redeemable noncontrolling interests $ (758)       (758)         (758)   $ (758)          
Balance (in units/shares) at Jun. 30, 2018 103,260,495                     106,457,556          
Balance (preferred units) at Jun. 30, 2018                                 352,000
Balance (COPT: 103,260,495 and 111,949,887 shares as of June 30, 2018 and 2019, respectively) at Jun. 30, 2018 $ 1,508,485   1,033   2,254,430   (822,270) 9,012 66,280 1,508,485   $ 1,477,575   9,235 12,875   $ 8,800
Balance (COPT: 101,292,299 and 110,241,868 shares as of December 31, 2017 and 2018 and 102,150,358, respectively and 111,939,790 shares as of March 31, 2018 and 2019, respectively) at Mar. 31, 2018 $ 1,482,024   1,022   2,221,427   (813,302) 7,204 65,673 1,482,024   $ 1,453,262   7,370 12,592   $ 8,800
Balance (preferred units) at Mar. 31, 2018                                 352,000
Balance (in units/shares) at Mar. 31, 2018 102,150,358                     105,347,419          
Increase (Decrease) in Shareholders' Equity                                  
Common shares issued under forward equity sale agreements (COPT: 1,100,000 shares for the three months ended June 30, 2018 and 1,777,000 and 1,614,087 shares for the six months ended June 30, 2018 and 2019, respectively)   $ 32,251   11   32,240         32,251   $ 32,251        
Common shares issued under forward equity sale agreements (in units/shares)   1,100,000                     1,100,000        
Share-based compensation issuance, net of redemptions (in units/shares) 10,137                     10,137          
Share-based compensation issuance, net of redemptions (COPT: 10,137 and 10,097 shares for the three months ended June 30, 2018 and 2019 and 137,379 and 88,432 shares issued, net of redemptions for the six months ended June 30, 2018 and 2019, respectively) $ 1,720       1,720         1,720   $ 1,720          
Redemption of vested equity awards (198)       (198)         (198)   (198)          
Adjustments to noncontrolling interests resulting from changes in ownership of COPLP 0       (538)       538                
Comprehensive income 22,359           19,434 1,808 1,117 22,359   20,042   1,865 287   $ 165
Dividends/Distributions (28,402)           (28,402)     (29,446)   (29,281)         $ (165)
Distributions to owners of common and preferred units in COPLP (1,044)               (1,044)                
Distributions to noncontrolling interests in other consolidated entities/subsidiaries (4)               (4) (4)         (4)    
Adjustment to arrive at fair value of redeemable noncontrolling interests $ (221)       (221)         (221)   $ (221)          
Balance (in units/shares) at Jun. 30, 2018 103,260,495                     106,457,556          
Balance (preferred units) at Jun. 30, 2018                                 352,000
Balance (COPT: 103,260,495 and 111,949,887 shares as of June 30, 2018 and 2019, respectively) at Jun. 30, 2018 $ 1,508,485   1,033   2,254,430   (822,270) 9,012 66,280 1,508,485   $ 1,477,575   9,235 12,875   $ 8,800
Balance (COPT: 101,292,299 and 110,241,868 shares as of December 31, 2017 and 2018 and 102,150,358, respectively and 111,939,790 shares as of March 31, 2018 and 2019, respectively) at Dec. 31, 2018 $ 1,627,048   1,102   2,431,355   (846,808) (238) 41,637 1,627,048   $ 1,604,655   (121) 13,714   $ 8,800
Balance (preferred units) at Dec. 31, 2018                               352,000 352,000
Balance (in units/shares) at Dec. 31, 2018 110,241,868                     111,574,754       1,332,886  
Increase (Decrease) in Shareholders' Equity                                  
Redemption of common units $ (1)               (1) (1)   $ (1)          
Redemption of common units (in units)                       (44)          
Conversion of common units to common shares (COPT: 53,817 and 5,500 shares for the six months ended June 30, 2018 and 2019, respectively) $ 0       80       (80)                
Common shares issued under forward equity sale agreements (COPT: 1,100,000 shares for the three months ended June 30, 2018 and 1,777,000 and 1,614,087 shares for the six months ended June 30, 2018 and 2019, respectively)   $ 46,454   $ 16   $ 46,438         $ 46,454   $ 46,454        
Common shares issued under forward equity sale agreements (in units/shares)   1,614,087                     1,614,087        
Share-based compensation issuance, net of redemptions (in units/shares) 88,432                     343,934          
Share-based compensation issuance, net of redemptions (COPT: 10,137 and 10,097 shares for the three months ended June 30, 2018 and 2019 and 137,379 and 88,432 shares issued, net of redemptions for the six months ended June 30, 2018 and 2019, respectively) $ 3,635   1   3,049       585 3,635   $ 3,635          
Redemption of vested equity awards (1,920)       (1,920)         (1,920)   (1,920)          
Adjustments to noncontrolling interests resulting from changes in ownership of COPLP 0       (834)       834                
Comprehensive income 106,820           127,650 (23,227) 2,397 106,820   129,246   (23,517) 761   $ 330
Dividends/Distributions (61,509)           (61,509)     (62,612)   (62,282)         $ (330)
Distributions to owners of common and preferred units in COPLP (1,103)               (1,103)                
Contributions from noncontrolling interests in other consolidated entities 2,570               2,570 2,570         2,570    
Distributions to noncontrolling interests in other consolidated entities/subsidiaries (8)               (8) (8)         (8)    
Adjustment to arrive at fair value of redeemable noncontrolling interests $ (2,875)       (2,875)         (2,875)   $ (2,875)          
Balance (in units/shares) at Jun. 30, 2019 111,949,887                     113,532,731       1,582,844  
Balance (preferred units) at Jun. 30, 2019                               352,000 352,000
Balance (COPT: 103,260,495 and 111,949,887 shares as of June 30, 2018 and 2019, respectively) at Jun. 30, 2019 $ 1,719,111   1,119   2,475,293   (780,667) (23,465) 46,831 1,719,111   $ 1,716,912   (23,638) 17,037   $ 8,800
Balance (COPT: 101,292,299 and 110,241,868 shares as of December 31, 2017 and 2018 and 102,150,358, respectively and 111,939,790 shares as of March 31, 2018 and 2019, respectively) at Mar. 31, 2019 $ 1,656,178   1,119   2,475,497   (856,703) (9,538) 45,803 1,656,178   $ 1,640,272   (9,536) 16,642   $ 8,800
Balance (preferred units) at Mar. 31, 2019                                 352,000
Balance (in units/shares) at Mar. 31, 2019 111,939,790                     113,515,814          
Increase (Decrease) in Shareholders' Equity                                  
Redemption of common units $ (1)               (1) (1)   $ (1)          
Redemption of common units (in units)                       (44)          
Share-based compensation issuance, net of redemptions (in units/shares) 10,097                     16,961          
Share-based compensation issuance, net of redemptions (COPT: 10,137 and 10,097 shares for the three months ended June 30, 2018 and 2019 and 137,379 and 88,432 shares issued, net of redemptions for the six months ended June 30, 2018 and 2019, respectively) $ 1,833       1,487       346 1,833   $ 1,833          
Redemption of vested equity awards (103)       (103)         (103)   (103)          
Adjustments to noncontrolling interests resulting from changes in ownership of COPLP 0       488       (488)                
Comprehensive income 94,592           106,791 (13,927) 1,728 94,592   108,130   (14,102) 399   $ 165
Dividends/Distributions (30,755)           (30,755)     (31,308)   (31,143)         $ (165)
Distributions to owners of common and preferred units in COPLP (553)               (553)                
Distributions to noncontrolling interests in other consolidated entities/subsidiaries (4)               (4) (4)         (4)    
Adjustment to arrive at fair value of redeemable noncontrolling interests $ (2,076)       (2,076)         (2,076)   $ (2,076)          
Balance (in units/shares) at Jun. 30, 2019 111,949,887                     113,532,731       1,582,844  
Balance (preferred units) at Jun. 30, 2019                               352,000 352,000
Balance (COPT: 103,260,495 and 111,949,887 shares as of June 30, 2018 and 2019, respectively) at Jun. 30, 2019 $ 1,719,111   $ 1,119   $ 2,475,293   $ (780,667) $ (23,465) $ 46,831 $ 1,719,111   $ 1,716,912   $ (23,638) $ 17,037   $ 8,800