COPT Defense Properties Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Interest Rate Derivatives (Tables)

Interest Rate Derivatives (Tables)

6 Months Ended

Jun. 30, 2011

Schedule of key terms and fair values of interest rate swap derivatives

								Fair Value at
Notional			Fixed		Floating Rate	Effective	Expiration	June 30,			December 31,
Amount			Rate		Index	Date	Date	2011			2010
$	120,000		1.7600	%	One-Month LIBOR	1/2/2009	5/1/2012	$	(1,465	)	$	(2,062	)
100,000			1.9750	%	One-Month LIBOR	1/1/2010	5/1/2012	(1,402		)	(2,002		)
100,000		(1)	3.8415	%	Three-Month LIBOR	9/30/2011	9/30/2021	(3,974		)	N/A
75,000		(1)	3.8450	%	Three-Month LIBOR	9/30/2011	9/30/2021	(3,003		)	N/A
50,000			0.5025	%	One-Month LIBOR	1/3/2011	1/3/2012	(64		)	(64		)
50,000			0.5025	%	One-Month LIBOR	1/3/2011	1/3/2012	(64		)	(64		)
50,000			0.4400	%	One-Month LIBOR	1/4/2011	1/3/2012	(48		)	(34		)
40,000		(2)	3.8300	%	One-Month LIBOR	11/2/2010	11/2/2015	80			644
								$	(9,940	)	$	(3,582	)

(1) These instruments have a cash settlement date of March 30, 2012.

(2) The notional amount of this instrument is scheduled to amortize to $36.2 million.

Schedule of fair value and balance sheet classification of interest rate derivatives

Derivatives Designated as	June 30, 2011				December 31, 2010
Hedging Instruments	Balance Sheet Location	Fair Value			Balance Sheet Location	Fair Value
Interest rate swaps	Prepaid expenses and other assets	$	80		Prepaid expenses and other assets	$	644
Interest rate swaps	Interest rate derivatives	(10,020		)	Interest rate derivatives	(4,226		)

Schedule of effect of interest rate derivatives on consolidated statements of operations and comprehensive income

	For the Three Months						For the Six Months
	Ended June 30,						Ended June 30,
	2011			2010			2011			2010
Amount of loss recognized in AOCL (effective portion)	$	(8,458	)	$	(1,929	)	$	(8,594	)	$	(4,314	)
Amount of loss reclassified from AOCL into interest expense (effective portion)	(1,163		)	(886		)	(2,267		)	(1,797		)

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References + Details

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References + Details

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

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-Publisher FASB
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+ Details