Quarterly report pursuant to Section 13 or 15(d)

Information by Business Segment (Tables)

v2.4.0.6
Information by Business Segment (Tables)
 3 Months Ended
Mar. 31, 2012
Information by Business Segment  
Schedule of segment financial information for real estate operations

 

 

 

 

Operating Office Property Segments

 

 

 

 

 

 

 

Baltimore/
Washington
Corridor

 

Northern
Virginia

 

San
Antonio

 

Washington,
DC - Capitol
Riverfront

 

St. Mary’s & 
King George
Counties

 

Greater
Baltimore

 

Suburban
Maryland

 

Colorado
Springs

 

Greater
Philadelphia

 

Other

 

Operating
Wholesale
Data Center

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 2012

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues from real estate operations

 

$

56,250

 

$

18,560

 

$

7,608

 

$

3,894

 

$

4,212

 

$

15,372

 

$

5,749

 

$

6,453

 

$

2,172

 

$

3,618

 

$

1,416

 

$

125,304

 

Property operating expenses

 

20,151

 

7,400

 

3,817

 

1,910

 

1,258

 

5,890

 

2,521

 

2,385

 

615

 

1,233

 

1,207

 

48,387

 

NOI from real estate operations

 

$

36,099

 

$

11,160

 

$

3,791

 

$

1,984

 

$

2,954

 

$

9,482

 

$

3,228

 

$

4,068

 

$

1,557

 

$

2,385

 

$

209

 

$

76,917

 

Additions to long-lived assets

 

$

1,864

 

$

1,661

 

$

—

 

$

(729

)

$

167

 

$

719

 

$

771

 

$

99

 

$

—

 

$

26

 

$

—

 

$

4,578

 

Transfers from non-operating properties

 

$

25,594

 

$

—

 

$

362

 

$

—

 

$

556

 

$

365

 

$

335

 

$

316

 

$

7,303

 

$

—

 

$

—

 

$

34,831

 

Segment assets at March 31, 2012

 

$

1,231,949

 

$

480,457

 

$

120,024

 

$

108,649

 

$

99,946

 

$

370,754

 

$

147,197

 

$

181,241

 

$

109,432

 

$

114,108

 

$

43,390

 

$

3,007,147

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 2011

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues from real estate operations

 

$

53,252

 

$

18,274

 

$

7,663

 

$

4,590

 

$

3,534

 

$

17,612

 

$

5,609

 

$

5,920

 

$

1,939

 

$

2,838

 

$

1,210

 

$

122,441

 

Property operating expenses

 

21,058

 

7,590

 

3,813

 

1,627

 

1,014

 

8,452

 

2,661

 

2,343

 

418

 

467

 

709

 

50,152

 

NOI from real estate operations

 

$

32,194

 

$

10,684

 

$

3,850

 

$

2,963

 

$

2,520

 

$

9,160

 

$

2,948

 

$

3,577

 

$

1,521

 

$

2,371

 

$

501

 

$

72,289

 

Additions to long-lived assets

 

$

6,405

 

$

2,033

 

$

—

 

$

156

 

$

380

 

$

8,088

 

$

1,052

 

$

736

 

$

(4

)

$

(646

)

$

—

 

$

18,200

 

Transfers from non-operating properties

 

$

19,883

 

$

(7

)

$

600

 

$

—

 

$

—

 

$

4,247

 

$

354

 

$

—

 

$

(2,474

)

$

—

 

$

6,654

 

$

29,257

 

Segment assets at March 31, 2011

 

$

1,199,244

 

$

488,599

 

$

115,221

 

$

117,758

 

$

87,690

 

$

479,474

 

$

145,913

 

$

214,111

 

$

96,372

 

$

83,247

 

$

30,714

 

$

3,058,343
Schedule of reconciliation of segment revenues to total revenues

 

 

 

 

For the Three Months

 

 

 

Ended March 31,

 

 

 

2012

 

2011

 

Segment revenues from real estate operations

 

$

125,304

 

$

122,441

 

Construction contract and other service revenues

 

21,534

 

21,028

 

Less: Revenues from discontinued operations (Note 13)

 

(3,365

)

(5,980

)

Total revenues

 

$

143,473

 

$

137,489
Schedule of reconciliation of segment property operating expenses to total property operating expenses

 

 

 

 

For the Three Months

 

 

 

Ended March 31,

 

 

 

2012

 

2011

 

Segment property operating expenses

 

$

48,387

 

$

50,152

 

Less: Property operating expenses from discontinued operations (Note 13)

 

(1,185

)

(3,091

)

Total property operating expenses

 

$

47,202

 

$

47,061
Schedule of computation of net operating income from service operations

 

 

 

For the Three Months

 

 

 

Ended March 31,

 

 

 

2012

 

2011

 

Construction contract and other service revenues

 

$

21,534

 

$

21,028

 

Construction contract and other service expenses

 

(20,607

)

(20,618

)

NOI from service operations

 

$

927

 

$

410
Schedule of reconciliation of net operating income from real estate operations and service operations to (loss) income from continuing operations

 

 

 

 

For the Three Months

 

 

 

Ended March 31,

 

 

 

2012

 

2011

 

NOI from real estate operations

 

$

76,917

 

$

72,289

 

NOI from service operations

 

927

 

410

 

Interest and other income

 

1,217

 

1,168

 

Equity in (loss) income of unconsolidated entities

 

(89

)

30

 

Income tax (expense) benefit

 

(4,173

)

544

 

Other adjustments:

 

 

 

 

 

Depreciation and other amortization associated with real estate operations

 

(31,066

)

(30,043

)

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

)

Interest expense on continuing operations

 

(25,224

)

(26,115

)

NOI from discontinued operations

 

(2,180

)

(2,889

)

Income (loss) from continuing operations

 

$

2,592

 

$

(20,366

)
Schedule of reconciliation of segment assets to total assets

 

 

 

 

March 31,

 

March 31,

 

 

 

2012

 

2011

 

Segment assets

 

$

3,007,147

 

$

3,058,343

 

Non-operating property assets

 

638,856

 

652,223

 

Other assets

 

151,365

 

155,243

 

Total assets

 

$

3,797,368

 

$

3,865,809