Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
In Thousands
Jun. 30, 2011
Dec. 31, 2010
Properties, net:    
Operating properties, net $ 2,741,433 $ 2,802,773
Properties under construction or development 656,321 642,682
Properties held for sale, net 75,107  
Total properties, net 3,472,861 3,445,455
Cash and cash equivalents 11,703 10,102
Restricted cash and marketable securities 22,909 22,582
Accounts receivable (net of allowance for doubtful accounts of $3,360 and $2,796, respectively) 13,083 18,938
Deferred rent receivable 85,190 79,160
Intangible assets on real estate acquisitions, net 99,917 113,735
Deferred leasing and financing costs, net 60,988 60,649
Prepaid expenses and other assets 101,579 93,896
Total assets 3,868,230 3,844,517
Liabilities:    
Debt, net 2,299,416 2,323,681
Accounts payable and accrued expenses 115,154 99,699
Rents received in advance and security deposits 26,779 31,603
Dividends and distributions payable 35,021 32,986
Deferred revenue associated with operating leases 12,883 14,802
Distributions received in excess of investment in unconsolidated real estate joint venture 5,841 5,545
Interest rate derivatives 10,020 4,226
Other liabilities 9,744 8,837
Total liabilities 2,514,858 2,521,379
Commitments and contingencies (Note 15)    
Corporate Office Properties Trust's shareholders' equity:    
Preferred Shares of beneficial interest with an aggregate liquidation preference of $216,333 ($0.01 par value; 15,000,000 shares authorized and 8,121,667 shares issued and outstanding at June 30, 2011 and December 31, 2010) 81 81
Common Shares of beneficial interest ($0.01 par value; 125,000,000 shares authorized, shares issued and outstanding of 71,891,631 at June 30, 2011 and 66,931,582 at December 31, 2010) 719 669
Additional paid-in capital 1,657,536 1,511,844
Cumulative distributions in excess of net income (389,195) (281,794)
Accumulated other comprehensive loss (9,624) (4,163)
Total Corporate Office Properties Trust's shareholders' equity 1,259,517 1,226,637
Noncontrolling interests in subsidiaries:    
Common units in the Operating Partnership 66,482 69,337
Preferred units in the Operating Partnership 8,800 8,800
Other consolidated entities 18,573 18,364
Noncontrolling interests in subsidiaries 93,855 96,501
Total equity 1,353,372 1,323,138
Total liabilities and equity $ 3,868,230 $ 3,844,517