Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.21.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2021
Dec. 31, 2020
Properties, net:    
Operating properties, net $ 3,099,182 $ 3,115,280
Projects in development or held for future development 431,535 447,269
Total properties, net 3,530,717 3,562,549
Property - operating right-of-use assets 39,333 40,570
Property - finance right-of-use assets 40,082 40,425
Cash and cash equivalents 17,182 18,369
Investment in unconsolidated real estate joint ventures 40,586 29,303
Accounts receivable, net 39,951 41,637
Deferred rent receivable 99,715 92,876
Intangible assets on real estate acquisitions, net 16,959 19,344
Deferred leasing costs (net of accumulated amortization of $30,532 and $30,375, respectively) 62,277 58,613
Prepaid expenses and other assets, net 92,157 104,583
Total assets 4,052,032 4,077,023
Liabilities:    
Debt, net 2,109,640 2,086,918
Accounts payable and accrued expenses 127,027 142,717
Rents received in advance and security deposits 30,893 33,425
Dividends and distributions payable 31,302 31,231
Deferred revenue associated with operating leases 9,564 10,832
Property - operating lease liabilities 29,909 30,746
Interest rate derivatives 6,646 9,522
Other liabilities 9,699 12,490
Total liabilities 2,354,680 2,357,881
Commitments and contingencies (Note 18)
Redeemable noncontrolling interests 26,040 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 112,336,070 at June 30, 2021 and 112,181,759 at December 31, 2020) 1,123 1,122
Additional paid-in capital 2,478,416 2,478,906
Cumulative distributions in excess of net income (835,894) (809,836)
Accumulated other comprehensive loss (6,415) (9,157)
Total Corporate Office Properties Trust’s shareholders’ equity 1,637,230 1,661,035
Noncontrolling interests in subsidiaries:    
Common units in Corporate Office Properties, L.P. (“COPLP”) 21,604 20,465
Other consolidated entities 12,478 12,212
Noncontrolling interests in subsidiaries 34,082 32,677
Total equity 1,671,312 1,693,712
Total liabilities, redeemable noncontrolling interests and equity 4,052,032 4,077,023
Investing Receivables    
Properties, net:    
Investing receivables (net of allowance for credit losses of $2,132 and $2,851, respectively) $ 73,073 $ 68,754