Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.6
Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2011
Dec. 31, 2010
Properties, net:    
Operating properties, net $ 2,714,056 $ 2,802,773
Projects in development or held for future development 638,919 642,682
Total properties, net 3,352,975 3,445,455
Assets held for sale, net 116,616  
Cash and cash equivalents 5,559 10,102
Restricted cash and marketable securities 36,232 22,582
Accounts receivable (net of allowance for doubtful accounts of $3,546 and $2,796, respectively) 26,032 18,938
Deferred rent receivable 86,856 79,160
Intangible assets on real estate acquisitions, net 89,120 113,735
Deferred leasing and financing costs, net 66,515 60,649
Prepaid expenses and other assets 87,619 93,896
Total assets 3,867,524 3,844,517
Liabilities:    
Debt, net 2,426,303 2,323,681
Accounts payable and accrued expenses 96,425 99,699
Rents received in advance and security deposits 29,548 31,603
Dividends and distributions payable 35,038 32,986
Deferred revenue associated with operating leases 15,554 14,802
Distributions received in excess of investment in unconsolidated real estate joint venture 6,071 5,545
Interest rate derivatives 30,863 4,226
Other liabilities 9,657 8,837
Total liabilities 2,649,459 2,521,379
Commitments and contingencies (Note 21)      
Corporate Office Properties Trust's shareholders' equity:    
Preferred Shares of beneficial interest with an aggregate liquidation preference of $216,333 at December 31, 2011 and 2010 (Note 12) 81 81
Common Shares of beneficial interest ($0.01 par value; 125,000,000 shares authorized, shares issued and outstanding of 72,011,324 at December 31, 2011 and 66,931,582 at December 31, 2010) 720 669
Additional paid-in capital 1,668,645 1,511,844
Cumulative distributions in excess of net income (532,288) (281,794)
Accumulated other comprehensive loss (1,733) (4,163)
Total Corporate Office Properties Trust's shareholders' equity 1,135,425 1,226,637
Noncontrolling interests in subsidiaries:    
Common units in the Operating Partnership 55,281 69,337
Preferred units in the Operating Partnership 8,800 8,800
Other consolidated entities 18,559 18,364
Noncontrolling interests in subsidiaries 82,640 96,501
Total equity 1,218,065 1,323,138
Total liabilities and equity $ 3,867,524 $ 3,844,517