Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.19.3
Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2019
Dec. 31, 2018
Properties, net:    
Operating properties, net $ 2,713,900 $ 2,847,265
Projects in development or held for future development 544,923 403,361
Total properties, net 3,258,823 3,250,626
Property - finance right-of-use assets 41,660  
Assets held for sale, net 61,728 0
Cash and cash equivalents 34,005 8,066
Investment in unconsolidated real estate joint ventures 49,408 39,845
Accounts receivable 37,623 26,277
Deferred rent receivable 88,001 89,350
Intangible assets on real estate acquisitions, net 29,454 43,470
Deferred leasing costs (net of accumulated amortization of $34,198 and $31,994, respectively) 55,839 50,191
Investing receivables 72,114 56,982
Prepaid expenses and other assets, net 100,582 91,198
Total assets 3,855,369 3,656,005
Liabilities:    
Debt, net 1,862,301 1,823,909
Accounts payable and accrued expenses 141,242 92,855
Rents received in advance and security deposits 27,975 30,079
Dividends and distributions payable 31,345 30,856
Deferred revenue associated with operating leases 7,665 9,125
Property - operating lease liabilities 16,686  
Interest rate derivatives 34,825 5,459
Other liabilities 8,706 10,414
Total liabilities 2,130,745 2,002,697
Commitments and contingencies (Note 17)
Redeemable noncontrolling interests 28,677 26,260
Corporate Office Properties Trust’s shareholders’ equity:    
Common Shares of beneficial interest 1,121 1,102
Additional paid-in capital 2,480,083 2,431,355
Cumulative distributions in excess of net income (790,235) (846,808)
Accumulated other comprehensive loss (34,580) (238)
Total Corporate Office Properties Trust’s shareholders’ equity 1,656,389 1,585,411
Noncontrolling interests in subsidiaries:    
Common units in COPLP 19,365 19,168
Preferred units in COPLP 8,800 8,800
Other consolidated entities 11,393 13,669
Noncontrolling interests in subsidiaries 39,558 41,637
Total equity 1,695,947 1,627,048
Total liabilities, redeemable noncontrolling interests and equity 3,855,369 3,656,005
Properties    
Properties, net:    
Property - operating right-of-use assets 27,325 0
Property - finance right-of-use assets 40,467 0
Liabilities:    
Property - operating lease liabilities 16,686 0
Corporate Office Properties, L.P.    
Properties, net:    
Operating properties, net 2,713,900 2,847,265
Projects in development or held for future development 544,923 403,361
Total properties, net 3,258,823 3,250,626
Assets held for sale, net 61,728 0
Cash and cash equivalents 34,005 8,066
Investment in unconsolidated real estate joint ventures 49,408 39,845
Accounts receivable 37,623 26,277
Deferred rent receivable 88,001 89,350
Intangible assets on real estate acquisitions, net 29,454 43,470
Deferred leasing costs (net of accumulated amortization of $34,198 and $31,994, respectively) 55,839 50,191
Investing receivables 72,114 56,982
Prepaid expenses and other assets, net 96,325 87,330
Total assets 3,851,112 3,652,137
Liabilities:    
Debt, net 1,862,301 1,823,909
Accounts payable and accrued expenses 141,242 92,855
Rents received in advance and security deposits 27,975 30,079
Dividends and distributions payable 31,345 30,856
Deferred revenue associated with operating leases 7,665 9,125
Interest rate derivatives 34,825 5,459
Other liabilities 4,449 6,546
Total liabilities 2,126,488 1,998,829
Commitments and contingencies (Note 17)
Redeemable noncontrolling interests 28,677 26,260
Corporate Office Properties Trust’s shareholders’ equity:    
Common Shares of beneficial interest 1,710,600 1,604,655
Accumulated other comprehensive loss (34,891) (121)
Total Corporate Office Properties Trust’s shareholders’ equity 1,684,509 1,613,334
Noncontrolling interests in subsidiaries:    
Noncontrolling interests in subsidiaries 11,438 13,714
Total equity 1,695,947 1,627,048
Total liabilities, redeemable noncontrolling interests and equity 3,851,112 3,652,137
Corporate Office Properties, L.P. | Properties    
Properties, net:    
Property - operating right-of-use assets 27,325 0
Property - finance right-of-use assets 40,467 0
Liabilities:    
Property - operating lease liabilities 16,686 0
Limited Partner | Corporate Office Properties, L.P.    
Corporate Office Properties Trust’s shareholders’ equity:    
Preferred units held by limited partner, 352,000 preferred units outstanding at September 30, 2019 and December 31, 2018 $ 8,800 $ 8,800