Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

v3.20.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Revenues    
Lease revenue $ 131,012 $ 130,903
Construction contract and other service revenues 13,681 16,950
Total revenues 145,797 148,940
Operating expenses    
Property operating expenses 49,999 49,445
Depreciation and amortization associated with real estate operations 32,596 34,796
Construction contract and other service expenses 13,121 16,326
General, administrative and leasing expenses 7,486 8,751
Business development expenses and land carry costs 1,118 1,113
Total operating expenses 104,320 110,431
Interest expense (16,840) (18,674)
Interest and other income 1,205 2,286
Credit loss expense (689) 0
Gain on sales of real estate 5 0
Income before equity in income of unconsolidated entities and income taxes 25,158 22,121
Equity in income of unconsolidated entities 441 391
Income tax expense (49) (194)
Net income 25,550 22,318
Net income attributable to noncontrolling interests:    
Common units in COPLP (287) (257)
Preferred units in COPLP (77) (165)
Other consolidated entities (1,132) (1,037)
Net income attributable to COPLP 24,054 20,859
Net income attributable to COPT/COPLP common share/unitholders $ 24,054 $ 20,859
Earnings per common share/unit:    
Net income attributable to COPT/COPLP common share/unitholders - basic (in dollars per share/unit) [1] $ 0.21 $ 0.19
Net income attributable to COPT/COPLP common share/unit holders - diluted (in dollars per share/unit) [1] $ 0.21 $ 0.19
Other Property Revenue    
Revenues    
Total revenues $ 1,104 $ 1,087
Corporate Office Properties, L.P.    
Revenues    
Lease revenue 131,012 130,903
Construction contract and other service revenues 13,681 16,950
Total revenues 145,797 148,940
Operating expenses    
Property operating expenses 49,999 49,445
Depreciation and amortization associated with real estate operations 32,596 34,796
Construction contract and other service expenses 13,121 16,326
General, administrative and leasing expenses 7,486 8,751
Business development expenses and land carry costs 1,118 1,113
Total operating expenses 104,320 110,431
Interest expense (16,840) (18,674)
Interest and other income 1,205 2,286
Credit loss expense (689) 0
Gain on sales of real estate 5 0
Income before equity in income of unconsolidated entities and income taxes 25,158 22,121
Equity in income of unconsolidated entities 441 391
Income tax expense (49) (194)
Net income 25,550 22,318
Net income attributable to noncontrolling interests:    
Net income attributable to noncontrolling interests in consolidated entities (1,132) (1,037)
Net income attributable to COPLP 24,418 21,281
Preferred unit distributions (77) (165)
Net income attributable to COPT/COPLP common share/unitholders $ 24,341 $ 21,116
Earnings per common share/unit:    
Net income attributable to COPT/COPLP common share/unitholders - basic (in dollars per share/unit) [2] $ 0.21 $ 0.19
Net income attributable to COPT/COPLP common share/unit holders - diluted (in dollars per share/unit) [2] $ 0.21 $ 0.19
Corporate Office Properties, L.P. | Other Property Revenue    
Revenues    
Total revenues $ 1,104 $ 1,087
[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.