Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Properties, net:    
Operating properties, net $ 3,106,698 $ 3,115,280
Projects in development or held for future development 472,556 447,269
Total properties, net 3,579,254 3,562,549
Property - operating right-of-use assets 39,810 40,570
Property - finance right-of-use assets 40,091 40,425
Cash and cash equivalents 36,139 18,369
Investment in unconsolidated real estate joint ventures 28,934 29,303
Accounts receivable, net 44,916 41,637
Deferred rent receivable 98,048 92,876
Intangible assets on real estate acquisitions, net 18,137 19,344
Deferred leasing costs (net of accumulated amortization of $29,854 and $30,375, respectively) 56,508 58,613
Prepaid expenses and other assets, net 99,280 104,583
Total assets 4,112,948 4,077,023
Liabilities:    
Debt, net 2,207,903 2,086,918
Accounts payable and accrued expenses 96,465 142,717
Rents received in advance and security deposits 30,922 33,425
Dividends and distributions payable 31,305 31,231
Deferred revenue associated with operating leases 10,221 10,832
Property - operating lease liabilities 30,176 30,746
Interest rate derivatives 7,640 9,522
Other liabilities 15,599 12,490
Total liabilities 2,430,231 2,357,881
Commitments and contingencies (Note 18)
Redeemable noncontrolling interests 25,925 25,430
Corporate Office Properties Trust’s shareholders’ equity:    
Common Shares of beneficial interest ($0.01 par value; 150,000,000 shares authorized; shares issued and outstanding of 112,327,234 at March 31, 2021 and 112,181,759 at December 31, 2020) 1,123 1,122
Additional paid-in capital 2,476,807 2,478,906
Cumulative distributions in excess of net income (847,407) (809,836)
Accumulated other comprehensive loss (7,391) (9,157)
Total Corporate Office Properties Trust’s shareholders’ equity 1,623,132 1,661,035
Noncontrolling interests in subsidiaries:    
Common units in COPLP 21,345 20,465
Other consolidated entities 12,315 12,212
Noncontrolling interests in subsidiaries 33,660 32,677
Total equity 1,656,792 1,693,712
Total liabilities, redeemable noncontrolling interests and equity 4,112,948 4,077,023
Investing Receivables    
Properties, net:    
Investing receivables (net of allowance for credit losses of $2,080 and $2,851, respectively) $ 71,831 $ 68,754