Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.22.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
Properties, net:    
Operating properties, net $ 3,180,790 $ 3,090,510
Projects in development or held for future development 458,961 442,434
Total properties, net 3,639,751 3,532,944
Property - operating right-of-use assets 38,056 38,361
Assets held for sale, net 0 192,699
Cash and cash equivalents 20,735 13,262
Investment in unconsolidated real estate joint ventures 39,017 39,889
Accounts receivable, net 31,554 40,752
Deferred rent receivable 121,015 108,926
Intangible assets on property acquisitions, net 12,543 14,567
Lease incentives, net 50,871 51,486
Deferred leasing costs (net of accumulated amortization of $32,379 and $31,768, respectively) 68,004 65,850
Prepaid expenses and other assets, net 78,762 81,490
Total assets 4,185,193 4,262,452
Liabilities:    
Debt, net 2,177,811 2,272,304
Accounts payable and accrued expenses 177,180 186,202
Rents received in advance and security deposits 27,745 32,262
Dividends and distributions payable 31,400 31,299
Deferred revenue associated with operating leases 8,416 9,341
Property - operating lease liabilities 29,412 29,342
Other liabilities 10,526 17,729
Total liabilities 2,462,490 2,578,479
Commitments and contingencies (Note 18)
Redeemable noncontrolling interests 26,752 26,898
Shareholders’ equity:    
Common Shares of beneficial interest ($0.01 par value; 150,000,000 shares authorized; shares issued and outstanding of 112,424,671 at June 30, 2022 and 112,327,533 at December 31, 2021) 1,124 1,123
Additional paid-in capital 2,481,139 2,481,539
Cumulative distributions in excess of net income (827,076) (856,863)
Accumulated other comprehensive income (loss) 1,806 (3,059)
Total shareholders’ equity 1,656,993 1,622,740
Noncontrolling interests in subsidiaries:    
Common units in Corporate Office Properties, L.P. (“COPLP”) 25,505 21,363
Other consolidated entities 13,453 12,972
Noncontrolling interests in subsidiaries 38,958 34,335
Total equity 1,695,951 1,657,075
Total liabilities, redeemable noncontrolling interests and equity 4,185,193 4,262,452
Investing Receivables    
Properties, net:    
Investing receivables (net of allowance for credit losses of $1,645 and $1,599, respectively) $ 84,885 $ 82,226