Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
In Thousands
Sep. 30, 2011
Dec. 31, 2010
Properties, net:    
Operating properties, net $ 2,772,303 $ 2,802,773
Properties under construction or development 696,914 642,682
Total properties, net 3,469,217 3,445,455
Assets held for sale, net 72,767  
Cash and cash equivalents 11,504 10,102
Restricted cash and marketable securities 39,232 22,582
Accounts receivable (net of allowance for doubtful accounts of $3,404 and $2,796, respectively) 20,991 18,938
Deferred rent receivable 87,148 79,160
Intangible assets on real estate acquisitions, net 97,954 113,735
Deferred leasing and financing costs, net 70,791 60,649
Prepaid expenses and other assets 95,788 93,896
Total assets 3,965,392 3,844,517
Liabilities:    
Debt, net 2,420,073 2,323,681
Accounts payable and accrued expenses 114,834 99,699
Rents received in advance and security deposits 28,241 31,603
Dividends and distributions payable 35,029 32,986
Deferred revenue associated with operating leases 15,621 14,802
Distributions received in excess of investment in unconsolidated real estate joint venture 5,953 5,545
Interest rate derivatives 30,629 4,226
Other liabilities 7,389 8,837
Total liabilities 2,657,769 2,521,379
Commitments and contingencies (Note 16)    
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 September 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 71,986,936 at September 30, 2011 and 66,931,582 at December 31, 2010) 720 669
Additional paid-in capital 1,663,850 1,511,844
Cumulative distributions in excess of net income (416,342) (281,794)
Accumulated other comprehensive loss (28,618) (4,163)
Total Corporate Office Properties Trust's shareholders' equity 1,219,691 1,226,637
Noncontrolling interests in subsidiaries:    
Common units in the Operating Partnership 60,583 69,337
Preferred units in the Operating Partnership 8,800 8,800
Other consolidated entities 18,549 18,364
Noncontrolling interests in subsidiaries 87,932 96,501
Total equity 1,307,623 1,323,138
Total liabilities and equity $ 3,965,392 $ 3,844,517