Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

v3.21.2
Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues        
Lease revenue $ 143,658 $ 132,147 $ 288,282 $ 263,159
Construction contract and other service revenues 19,988 12,236 36,546 25,917
Total revenues 164,411 144,774 326,133 290,571
Operating expenses        
Property operating expenses 54,616 50,204 111,590 100,203
Depreciation and amortization associated with real estate operations 37,555 33,612 74,876 66,208
Construction contract and other service expenses 19,082 11,711 34,875 24,832
General, administrative and leasing expenses 9,222 8,158 17,628 15,644
Business development expenses and land carry costs 1,372 1,262 2,466 2,380
Total operating expenses 121,847 104,947 241,435 209,267
Interest expense (15,942) (16,797) (33,461) (33,637)
Interest and other income 2,228 2,282 4,093 3,487
Credit loss (expense) recoveries (193) (615) 714 (1,304)
Gain on sales of real estate 40,233 0 39,743 5
Loss on early extinguishment of debt (25,228) 0 (58,394) 0
Income before equity in income of unconsolidated entities and income taxes 43,662 24,697 37,393 49,855
Equity in income of unconsolidated entities 260 454 482 895
Income tax expense (24) (30) (56) (79)
Net income 43,898 25,121 37,819 50,671
Net income attributable to noncontrolling interests:        
Common units in COPLP (559) (284) (474) (571)
Preferred units in COPLP 0 (77) 0 (154)
Other consolidated entities (938) (1,263) (1,613) (2,395)
Net income attributable to COPT common shareholders $ 42,401 $ 23,497 $ 35,732 $ 47,551
Earnings per common share:        
Net income attributable to COPT common shareholders - basic (in dollars per share) [1] $ 0.38 $ 0.21 $ 0.32 $ 0.42
Net income attributable to COPT common shareholders - diluted (in dollars per share) [1] $ 0.38 $ 0.21 $ 0.32 $ 0.42
Revenue from Contract with Customer, Product and Service [Extensible List]        
Other Property Revenue        
Revenues        
Total revenues $ 765 $ 391 $ 1,305 $ 1,495
[1] Basic and diluted earnings per common share are calculated based on amounts attributable to common shareholders of Corporate Office Properties Trust.