Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2012
Dec. 31, 2011
Properties, net:    
Operating properties, net $ 2,704,323 $ 2,714,056
Projects in development or held for future development 633,968 638,919
Total properties, net 3,338,291 3,352,975
Assets held for sale, net 81,352 116,616
Cash and cash equivalents 7,987 5,559
Restricted cash and marketable securities 21,711 36,232
Accounts receivable (net of allowance for doubtful accounts of $3,796 and $3,546, respectively) 11,231 26,032
Deferred rent receivable 89,337 86,856
Intangible assets on real estate acquisitions, net 83,940 89,120
Deferred leasing and financing costs, net 66,987 66,515
Prepaid expenses and other assets 96,532 87,619
Total assets 3,797,368 3,867,524
Liabilities:    
Debt, net 2,418,078 2,426,303
Accounts payable and accrued expenses 93,156 96,425
Rents received in advance and security deposits 27,647 29,548
Dividends and distributions payable 24,544 35,038
Deferred revenue associated with operating leases 15,258 15,554
Distributions received in excess of investment in unconsolidated real estate joint venture 6,178 6,071
Interest rate derivatives 2,673 30,863
Other liabilities 9,038 9,657
Total liabilities 2,596,572 2,649,459
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 March 31, 2012 and December 31, 2011) 81 81
Common Shares of beneficial interest ($0.01 par value; 125,000,000 shares authorized, shares issued and outstanding of 72,037,627 at March 31, 2012 and 72,011,324 at December 31, 2011) 720 720
Additional paid-in capital 1,670,451 1,668,645
Cumulative distributions in excess of net income (549,456) (532,288)
Accumulated other comprehensive loss (2,201) (1,733)
Total Corporate Office Properties Trust's shareholders' equity 1,119,595 1,135,425
Noncontrolling interests in subsidiaries:    
Common units in the Operating Partnership 53,883 55,281
Preferred units in the Operating Partnership 8,800 8,800
Other consolidated entities 18,518 18,559
Noncontrolling interests in subsidiaries 81,201 82,640
Total equity 1,200,796 1,218,065
Total liabilities and equity $ 3,797,368 $ 3,867,524