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
Jun. 30, 2012
Dec. 31, 2011
Properties, net:    
Operating properties, net $ 2,629,136 $ 2,714,056
Projects in development or held for future development 603,456 638,919
Total properties, net 3,232,592 3,352,975
Assets held for sale, net 144,392 116,616
Cash and cash equivalents 4,702 5,559
Restricted cash and marketable securities 22,632 36,232
Accounts receivable (net of allowance for doubtful accounts of $4,193 and $3,546, respectively) 10,992 26,032
Deferred rent receivable 85,595 86,856
Intangible assets on real estate acquisitions, net 76,426 89,120
Deferred leasing and financing costs, net 63,861 66,515
Prepaid expenses and other assets 73,883 87,619
Total assets 3,715,075 3,867,524
Liabilities:    
Debt, net 2,191,851 2,426,303
Accounts payable and accrued expenses 84,733 96,425
Rents received in advance and security deposits 27,124 29,548
Dividends and distributions payable 24,695 35,038
Deferred revenue associated with operating leases 13,938 15,554
Distributions received in excess of investment in unconsolidated real estate joint venture 6,282 6,071
Interest rate derivatives 4,400 30,863
Other liabilities 8,703 9,657
Total liabilities 2,361,726 2,649,459
Commitments and contingencies (Note 15)      
Corporate Office Properties Trust's shareholders' equity:    
Preferred Shares of beneficial interest at liquidation preference ($0.01 par value; shares authorized of 25,000,000 at June 30, 2012 and 15,000,000 at December 31, 2011; shares issued and outstanding of 15,021,667 at June 30, 2012 and 8,121,667 at December 31, 2011) 388,833 216,333
Common Shares of beneficial interest ($0.01 par value; 125,000,000 shares authorized, shares issued and outstanding of 72,084,932 at June 30, 2012 and 72,011,324 at December 31, 2011) 721 720
Additional paid-in capital 1,450,923 1,452,393
Cumulative distributions in excess of net income (562,678) (532,288)
Accumulated other comprehensive loss (3,717) (1,733)
Total Corporate Office Properties Trust's shareholders' equity 1,274,082 1,135,425
Noncontrolling interests in subsidiaries:    
Common units in the Operating Partnership 52,152 55,281
Preferred units in the Operating Partnership 8,800 8,800
Other consolidated entities 18,315 18,559
Noncontrolling interests in subsidiaries 79,267 82,640
Total equity 1,353,349 1,218,065
Total liabilities and equity $ 3,715,075 $ 3,867,524