Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.21.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
Properties, net:    
Operating properties, net $ 3,227,797 $ 3,115,280
Projects in development or held for future development 379,325 447,269
Total properties, net 3,607,122 3,562,549
Property - operating right-of-use assets 38,854 40,570
Property - finance right-of-use assets 40,077 40,425
Assets held for sale, net 2,821 0
Cash and cash equivalents 14,570 18,369
Investment in unconsolidated real estate joint ventures 40,304 29,303
Accounts receivable, net 33,110 41,637
Deferred rent receivable 103,062 92,876
Intangible assets on real estate acquisitions, net 15,788 19,344
Deferred leasing costs (net of accumulated amortization of $31,975 and $30,375, respectively) 62,269 58,613
Prepaid expenses and other assets, net 117,214 104,583
Total assets 4,151,138 4,077,023
Liabilities:    
Debt, net 2,159,732 2,086,918
Accounts payable and accrued expenses 176,636 142,717
Rents received in advance and security deposits 32,092 33,425
Dividends and distributions payable 31,306 31,231
Deferred revenue associated with operating leases 8,704 10,832
Property - operating lease liabilities 29,630 30,746
Interest rate derivatives 5,562 9,522
Other liabilities 10,691 12,490
Total liabilities 2,454,353 2,357,881
Commitments and contingencies (Note 18)
Redeemable noncontrolling interests 26,006 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 112,325,411 at September 30, 2021 and 112,181,759 at December 31, 2020) 1,123 1,122
Additional paid-in capital 2,480,412 2,478,906
Cumulative distributions in excess of net income (839,676) (809,836)
Accumulated other comprehensive loss (5,347) (9,157)
Total Corporate Office Properties Trust’s shareholders’ equity 1,636,512 1,661,035
Noncontrolling interests in subsidiaries:    
Common units in Corporate Office Properties, L.P. (“COPLP”) 21,568 20,465
Other consolidated entities 12,699 12,212
Noncontrolling interests in subsidiaries 34,267 32,677
Total equity 1,670,779 1,693,712
Total liabilities, redeemable noncontrolling interests and equity 4,151,138 4,077,023
Investing Receivables    
Properties, net:    
Investing receivables (net of allowance for credit losses of $1,415 and $2,851, respectively) $ 75,947 $ 68,754