COPT Defense Properties Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2011

Schedule of fair value assets and liabilities measured on recurring basis

Description	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total

December 31, 2011:
Assets:
Marketable securities in deferred compensation plan(1)
Mutual funds	$	5,878	$	—	$	—	$	5,878
Common stocks		909		—		—		909
Preferred stocks		320		—		—		320
Cash and cash equivalents		281		—		—		281
Other		200		—		—		200
Common stocks(1)		13,928		—		—		13,928
Interest rate derivative(2)		—		716		—		716
Warrants to purchase common shares in KEYW(2)		—		125		—		125

Assets	$	21,516	$	841	$	—	$	22,357

Liabilities:
Deferred compensation plan liability(3)	$	7,588	$	—	$	—	$	7,588
Interest rate derivatives		—		30,863		—		30,863

Liabilities	$	7,588	$	30,863	$	—	$	38,451

December 31, 2010:
Assets:
Marketable securities in deferred compensation plan(1)
Mutual funds	$	6,114	$	—	$	—	$	6,114
Common stocks		1,132		—		—		1,132
Preferred stocks		320		—		—		320
Cash and cash equivalents		422		—		—		422
Other		200		—		—		200
Common stock(1)		363		—		—		363
Interest rate derivative(2)		—		644		—		644
Warrants to purchase common shares in KEYW(2)		—		466		—		466

Assets	$	8,551	$	1,110	$	—	$	9,661

Liabilities:
Deferred compensation plan liability(3)	$	8,188	$	—	$	—	$	8,188
Interest rate derivatives		—		4,226		—		4,226

Liabilities	$	8,188	$	4,226	$	—	$	12,414

(1): Included in the line entitled "restricted cash and marketable securities" on our consolidated balance sheet.
(2): Included in the line entitled "prepaid expenses and other assets" on our consolidated balance sheet.
(3): Included in the line entitled "other liabilities" on our consolidated balance sheet.

Schedule of fair value hierarchy of impaired properties and other assets associated with such properties

Description	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total		Impairment Losses Recognized

Year Ended December 31, 2011:
Assets(1):
Properties, net	$	—	$	15,994	$	304,900	$	320,894	$	150,093
Deferred rent receivable		—		36		6,321		6,357		—
Intangible assets on real estate acquisitions		—		235		8,341		8,576		—
Deferred leasing and financing costs		—		51		7,041		7,092		—
Prepaid and other assets		—		—		163		163		928

(1): Reflects balance sheet classifications of assets at time of fair value measurement, excluding the effect of held for sale classifications.

- Definition

Tabular disclosure of assets and liabilities by class, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). The disclosures that may be required or desired include: (a) the fair value measurements recorded during the period and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

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