Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
Properties, net:    
Operating properties, net $ 3,169,992 $ 3,090,510
Projects in development or held for future development 521,419 442,434
Total properties, net 3,691,411 3,532,944
Property - operating right-of-use assets 37,541 38,361
Assets held for sale, net 0 192,699
Cash and cash equivalents 12,643 13,262
Investment in unconsolidated real estate joint ventures 38,644 39,889
Accounts receivable, net 39,720 40,752
Deferred rent receivable 124,146 108,926
Intangible assets on property acquisitions, net 11,788 14,567
Lease incentives, net 49,083 51,486
Deferred leasing costs (net of accumulated amortization of $34,711 and $31,768, respectively) 68,122 65,850
Prepaid expenses and other assets, net 93,681 81,490
Total assets 4,269,329 4,262,452
Liabilities:    
Debt, net 2,269,834 2,272,304
Accounts payable and accrued expenses 156,815 186,202
Rents received in advance and security deposits 29,056 32,262
Dividends and distributions payable 31,407 31,299
Deferred revenue associated with operating leases 9,382 9,341
Property - operating lease liabilities 29,088 29,342
Other liabilities 17,634 17,729
Total liabilities 2,543,216 2,578,479
Commitments and contingencies (Note 18)
Redeemable noncontrolling interests 25,447 26,898
Shareholders’ equity:    
Common Shares of beneficial interest ($0.01 par value; 150,000,000 shares authorized; shares issued and outstanding of 112,423,263 at September 30, 2022 and 112,327,533 at December 31, 2021) 1,124 1,123
Additional paid-in capital 2,484,702 2,481,539
Cumulative distributions in excess of net income (827,072) (856,863)
Accumulated other comprehensive income (loss) 2,632 (3,059)
Total shareholders’ equity 1,661,386 1,622,740
Noncontrolling interests in subsidiaries:    
Common units in Corporate Office Properties, L.P. (“COPLP”) 25,524 21,363
Other consolidated entities 13,756 12,972
Noncontrolling interests in subsidiaries 39,280 34,335
Total equity 1,700,666 1,657,075
Total liabilities, redeemable noncontrolling interests and equity 4,269,329 4,262,452
Investing Receivables    
Properties, net:    
Investing receivables (net of allowance for credit losses of $3,728 and $1,599, respectively) $ 102,550 $ 82,226