Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

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Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Revenues    
Rental revenue $ 99,144 $ 94,249
Tenant recoveries and other real estate operations revenue 22,795 22,212
Construction contract and other service revenues 21,534 21,028
Total revenues 143,473 137,489
Expenses    
Property operating expenses 47,202 47,061
Depreciation and amortization associated with real estate operations 31,066 30,043
Construction contract and other service expenses 20,607 20,618
Impairment losses 5,126 27,742
General and administrative expenses 7,017 6,777
Business development expenses and land carry costs 1,594 1,241
Total operating expenses 112,612 133,482
Operating income 30,861 4,007
Interest expense (25,224) (26,115)
Interest and other income 1,217 1,168
Income (loss) from continuing operations before equity in (loss) income of unconsolidated entities and income taxes 6,854 (20,940)
Equity in (loss) income of unconsolidated entities (89) 30
Income tax (expense) benefit (4,173) 544
Income (loss) from continuing operations 2,592 (20,366)
Discontinued operations 4,385 (901)
Income (loss) before gain on sales of real estate 6,977 (21,267)
Gain on sales of real estate, net of income taxes   2,701
Net income (loss) 6,977 (18,566)
Net (income) loss attributable to noncontrolling interests:    
Common units in the Operating Partnership (159) 1,479
Preferred units in the Operating Partnership (165) (165)
Other consolidated entities 24 (538)
Net income (loss) attributable to Corporate Office Properties Trust 6,677 (17,790)
Preferred share dividends (4,025) (4,025)
Net income (loss) attributable to Corporate Office Properties Trust common shareholders 2,652 (21,815)
Net income (loss) attributable to Corporate Office Properties Trust:    
Income (loss) from continuing operations 2,539 (16,946)
Discontinued operations, net 4,138 (844)
Net income (loss) attributable to Corporate Office Properties Trust $ 6,677 $ (17,790)
Basic earnings per common share    
Loss from continuing operations (in dollars per share) $ (0.02) [1] $ (0.32) [1]
Discontinued operations (in dollars per share) $ 0.06 [1] $ (0.01) [1]
Net income (loss) attributable to COPT common shareholders (in dollars per share) $ 0.04 [1] $ (0.33) [1]
Diluted earnings per common share    
Loss from continuing operations (in dollars per share) $ (0.02) [1] $ (0.32) [1]
Discontinued operations (in dollars per share) $ 0.06 [1] $ (0.01) [1]
Net income (loss) attributable to COPT common shareholders (in dollars per share) $ 0.04 [1] $ (0.33) [1]
[1] Basic and diluted earnings per common share are calculated based on amounts attributable to common shareholders of Corporate Office Properties Trust.