Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.20.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
Properties, net:    
Operating properties, net $ 2,999,892 $ 2,772,647
Projects in development or held for future development 587,046 568,239
Total properties, net 3,586,938 3,340,886
Property - operating right-of-use assets 36,442 27,864
Property - finance right-of-use assets 40,432 40,458
Cash and cash equivalents 11,458 14,733
Investment in unconsolidated real estate joint ventures 49,662 51,949
Accounts receivable, net 36,151 35,444
Deferred rent receivable 92,853 87,736
Intangible assets on real estate acquisitions, net 22,433 27,392
Deferred leasing costs (net of accumulated amortization of $31,927 and $33,782 respectively) 59,392 58,392
Prepaid expenses and other assets, net 110,292 96,076
Total assets 4,120,189 3,854,453
Liabilities:    
Debt, net 2,181,551 1,831,139
Accounts payable and accrued expenses 140,921 148,746
Rents received in advance and security deposits 30,276 33,620
Dividends and distributions payable 31,307 31,263
Deferred revenue associated with operating leases 8,579 7,361
Property - operating lease liabilities 26,382 17,317
Interest rate derivatives 10,977 25,682
Other liabilities 17,038 10,649
Total liabilities 2,447,031 2,105,777
Commitments and contingencies (Note 17)
Redeemable noncontrolling interests 23,522 29,431
Corporate Office Properties Trust’s shareholders’ equity:    
Common Shares of beneficial interest 1,122 1,121
Additional paid-in capital 2,479,321 2,481,558
Cumulative distributions in excess of net income (860,647) (778,275)
Accumulated other comprehensive loss (10,548) (25,444)
Total Corporate Office Properties Trust/L.P.'s equity 1,609,248 1,678,960
Noncontrolling interests in subsidiaries:    
Common units in COPLP 19,522 19,597
Preferred units in COPLP 8,800 8,800
Other consolidated entities 12,066 11,888
Noncontrolling interests in subsidiaries 40,388 40,285
Total equity 1,649,636 1,719,245
Total liabilities, redeemable noncontrolling interests and equity 4,120,189 3,854,453
Corporate Office Properties, L.P.    
Properties, net:    
Operating properties, net 2,999,892 2,772,647
Projects in development or held for future development 587,046 568,239
Total properties, net 3,586,938 3,340,886
Property - operating right-of-use assets 36,442 27,864
Property - finance right-of-use assets 40,432 40,458
Cash and cash equivalents 11,458 14,733
Investment in unconsolidated real estate joint ventures 49,662 51,949
Accounts receivable, net 36,151 35,444
Deferred rent receivable 92,853 87,736
Intangible assets on real estate acquisitions, net 22,433 27,392
Deferred leasing costs (net of accumulated amortization of $31,927 and $33,782 respectively) 59,392 58,392
Prepaid expenses and other assets, net 107,620 93,016
Total assets 4,117,517 3,851,393
Liabilities:    
Debt, net 2,181,551 1,831,139
Accounts payable and accrued expenses 140,921 148,746
Rents received in advance and security deposits 30,276 33,620
Dividends and distributions payable 31,307 31,263
Deferred revenue associated with operating leases 8,579 7,361
Property - operating lease liabilities 26,382 17,317
Interest rate derivatives 10,977 25,682
Other liabilities 14,366 7,589
Total liabilities 2,444,359 2,102,717
Commitments and contingencies (Note 17)
Redeemable noncontrolling interests 23,522 29,431
Corporate Office Properties Trust’s shareholders’ equity:    
Common Shares of beneficial interest 1,639,287 1,724,159
Accumulated other comprehensive loss (10,563) (25,648)
Total Corporate Office Properties Trust/L.P.'s equity 1,637,524 1,707,311
Noncontrolling interests in subsidiaries:    
Noncontrolling interests in subsidiaries 12,112 11,934
Total equity 1,649,636 1,719,245
Total liabilities, redeemable noncontrolling interests and equity 4,117,517 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 September 30, 2020 and December 31, 2019 8,800 8,800
Investing Receivables    
Properties, net:    
Investing receivables (net of allowance for credit losses of $4,040 at September 30, 2020) 74,136 73,523
Investing Receivables | Corporate Office Properties, L.P.    
Properties, net:    
Investing receivables (net of allowance for credit losses of $4,040 at September 30, 2020) $ 74,136 $ 73,523