Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

 v2.3.0.11
Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data
 3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Revenues        
Rental revenue $ 98,589 $ 88,779 $ 195,864 $ 177,423
Tenant recoveries and other real estate operations revenue 19,954 17,950 42,837 38,937
Construction contract and other service revenues 28,097 26,065 49,125 63,430
Total revenues 146,640 132,794 287,826 279,790
Expenses        
Property operating expenses 44,721 39,260 94,431 86,206
Depreciation and amortization associated with real estate operations 31,440 28,720 62,830 55,531
Construction contract and other service expenses 26,909 25,402 47,527 61,801
Impairment losses 38,290   66,032  
General and administrative expenses 6,320 5,926 13,097 11,826
Business development expenses 588 465 1,076 620
Total operating expenses 148,268 99,773 284,993 215,984
Operating (loss) income (1,628) 33,021 2,833 63,806
Interest expense (26,607) (25,576) (53,246) (48,068)
Interest and other income 2,756 245 3,924 1,547
Loss on early extinguishment of debt (25)   (25)  
(Loss) income from continuing operations before equity in loss of unconsolidated entities and income taxes (25,504) 7,690 (46,514) 17,285
Equity in loss of unconsolidated entities (94) (72) (64) (277)
Income tax benefit (expense) 5,042 (7) 5,586 (48)
(Loss) income from continuing operations (20,556) 7,611 (40,992) 16,960
Discontinued operations (5,467) 1,205 (6,298) 2,514
(Loss) income before gain on sales of real estate (26,023) 8,816 (47,290) 19,474
Gain on sales of real estate, net of income taxes 16 335 2,717 352
Net (loss) income (26,007) 9,151 (44,573) 19,826
Net loss (income) attributable to noncontrolling interests:        
Common units in the Operating Partnership 1,887 (364) 3,366 (891)
Preferred units in the Operating Partnership (165) (165) (330) (330)
Other consolidated entities 61 (156) (477) (201)
Net (loss) income attributable to Corporate Office Properties Trust (24,224) 8,466 (42,014) 18,404
Preferred share dividends (4,026) (4,026) (8,051) (8,051)
Net (loss) income attributable to Corporate Office Properties Trust common shareholders (28,250) 4,440 (50,065) 10,353
Net (loss) income attributable to Corporate Office Properties Trust:        
(Loss) income from continuing operations (19,102) 7,351 (36,114) 16,087
Discontinued operations, net (5,122) 1,115 (5,900) 2,317
Net (loss) income attributable to Corporate Office Properties Trust $ (24,224) $ 8,466 $ (42,014) $ 18,404
Basic earnings per common share        
(Loss) income from continuing operations (in dollars per share) $ (0.34) [1] $ 0.05 [1] $ (0.66) [1] $ 0.13 [1]
Discontinued operations (in dollars per share) $ (0.08) [1] $ 0.02 [1] $ (0.09) [1] $ 0.04 [1]
Net (loss) income attributable to COPT common shareholders (in dollars per share) $ (0.42) [1] $ 0.07 [1] $ (0.75) [1] $ 0.17 [1]
Diluted earnings per common share        
(Loss) income from continuing operations (in dollars per share) $ (0.34) [1] $ 0.05 [1] $ (0.66) [1] $ 0.13 [1]
Discontinued operations (in dollars per share) $ (0.08) [1] $ 0.02 [1] $ (0.09) [1] $ 0.04 [1]
Net (loss) income attributable to COPT common shareholders (in dollars per share) $ (0.42) [1] $ 0.07 [1] $ (0.75) [1] $ 0.17 [1]
[1] Basic and diluted earnings per common share are calculated based on amounts attributable to common shareholders of Corporate Office Properties Trust.