Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.20.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Properties, net:    
Operating properties, net $ 2,888,817 $ 2,772,647
Projects in development or held for future development 624,282 568,239
Total properties, net 3,513,099 3,340,886
Property - operating right-of-use assets 31,009 27,864
Property - finance right-of-use assets 40,441 40,458
Cash and cash equivalents 21,596 14,733
Investment in unconsolidated real estate joint ventures 50,457 51,949
Accounts receivable, net 30,404 35,444
Deferred rent receivable 90,493 87,736
Intangible assets on real estate acquisitions, net 24,768 27,392
Deferred leasing costs (net of accumulated amortization of $34,878 and $33,782, respectively) 58,666 58,392
Prepaid expenses and other assets, net 78,059 96,076
Total assets 4,011,325 3,854,453
Liabilities:    
Debt, net 2,012,019 1,831,139
Accounts payable and accrued expenses 149,836 148,746
Rents received in advance and security deposits 30,459 33,620
Dividends and distributions payable 31,302 31,263
Deferred revenue associated with operating leases 8,821 7,361
Property - operating lease liabilities 20,796 17,317
Interest rate derivatives 65,612 25,682
Other liabilities 12,408 10,649
Total liabilities 2,331,253 2,105,777
Commitments and contingencies (Note 17)
Redeemable noncontrolling interests 23,148 29,431
Corporate Office Properties Trust’s shareholders’ equity:    
Common Shares of beneficial interest 1,122 1,121
Additional paid-in capital 2,477,977 2,481,558
Cumulative distributions in excess of net income (797,959) (778,275)
Accumulated other comprehensive loss (64,513) (25,444)
Total Corporate Office Properties Trust/L.P.'s equity 1,616,627 1,678,960
Noncontrolling interests in subsidiaries:    
Common units in COPLP 19,611 19,597
Preferred units in COPLP 8,800 8,800
Other consolidated entities 11,886 11,888
Noncontrolling interests in subsidiaries 40,297 40,285
Total equity 1,656,924 1,719,245
Total liabilities, redeemable noncontrolling interests and equity 4,011,325 3,854,453
Corporate Office Properties, L.P.    
Properties, net:    
Operating properties, net 2,888,817 2,772,647
Projects in development or held for future development 624,282 568,239
Total properties, net 3,513,099 3,340,886
Property - operating right-of-use assets 31,009 27,864
Property - finance right-of-use assets 40,441 40,458
Cash and cash equivalents 21,596 14,733
Investment in unconsolidated real estate joint ventures 50,457 51,949
Accounts receivable, net 30,404 35,444
Deferred rent receivable 90,493 87,736
Intangible assets on real estate acquisitions, net 24,768 27,392
Deferred leasing costs (net of accumulated amortization of $34,878 and $33,782, respectively) 58,666 58,392
Prepaid expenses and other assets, net 75,527 93,016
Total assets 4,008,793 3,851,393
Liabilities:    
Debt, net 2,012,019 1,831,139
Accounts payable and accrued expenses 149,836 148,746
Rents received in advance and security deposits 30,459 33,620
Dividends and distributions payable 31,302 31,263
Deferred revenue associated with operating leases 8,821 7,361
Property - operating lease liabilities 20,796 17,317
Interest rate derivatives 65,612 25,682
Other liabilities 9,876 7,589
Total liabilities 2,328,721 2,102,717
Commitments and contingencies (Note 17)
Redeemable noncontrolling interests 23,148 29,431
Corporate Office Properties Trust’s shareholders’ equity:    
Common Shares of beneficial interest 1,701,375 1,724,159
Accumulated other comprehensive loss (65,183) (25,648)
Total Corporate Office Properties Trust/L.P.'s equity 1,644,992 1,707,311
Noncontrolling interests in subsidiaries:    
Noncontrolling interests in subsidiaries 11,932 11,934
Total equity 1,656,924 1,719,245
Total liabilities, redeemable noncontrolling interests and equity 4,008,793 3,851,393
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 June 30, 2020 and December 31, 2019 8,800 8,800
Investing Receivables    
Properties, net:    
Investing receivables (net of allowance for credit losses of $3,976 at June 30, 2020) 72,333 73,523
Investing Receivables | Corporate Office Properties, L.P.    
Properties, net:    
Investing receivables (net of allowance for credit losses of $3,976 at June 30, 2020) $ 72,333 $ 73,523