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Quarterly Data (Unaudited) (Tables)
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12 Months Ended |
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Dec. 31, 2013
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| Quarterly Data [Line Items] |
|
| Schedule of selected quarterly information |
Certain of the amounts below have been reclassified to conform to the current period presentation of our consolidated financial statements.
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For the Year Ended December 31, 2013 |
|
First Quarter |
|
Second Quarter |
|
Third Quarter |
|
Fourth Quarter |
Revenues |
$ |
126,219 |
|
|
$ |
136,527 |
|
|
$ |
131,812 |
|
|
$ |
128,802 |
|
Operating income |
$ |
36,165 |
|
|
$ |
40,229 |
|
|
$ |
30,673 |
|
|
$ |
34,843 |
|
Income (loss) from continuing operations |
$ |
11,662 |
|
|
$ |
(232 |
) |
|
$ |
10,974 |
|
|
$ |
14,432 |
|
Discontinued operations |
$ |
1,261 |
|
|
$ |
(4,502 |
) |
|
$ |
(12,974 |
) |
|
$ |
71,907 |
|
Net income (loss) |
$ |
15,277 |
|
|
$ |
(4,405 |
) |
|
$ |
(2,000 |
) |
|
$ |
92,672 |
|
Net (income) loss attributable to noncontrolling interests |
(257 |
) |
|
(960 |
) |
|
(964 |
) |
|
(5,656 |
) |
Net income (loss) attributable to COPT |
15,020 |
|
|
(5,365 |
) |
|
(2,964 |
) |
|
87,016 |
|
Preferred share dividends |
(6,106 |
) |
|
(4,885 |
) |
|
(4,490 |
) |
|
(4,490 |
) |
Issuance costs associated with redeemed preferred shares |
— |
|
|
(2,904 |
) |
|
— |
|
|
— |
|
Net income (loss) attributable to COPT common shareholders |
$ |
8,914 |
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|
$ |
(13,154 |
) |
|
$ |
(7,454 |
) |
|
$ |
82,526 |
|
Basic earnings per common share |
$ |
0.11 |
|
|
$ |
(0.16 |
) |
|
$ |
(0.09 |
) |
|
$ |
0.94 |
|
Diluted earnings per common share |
$ |
0.11 |
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|
$ |
(0.16 |
) |
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$ |
(0.09 |
) |
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$ |
0.94 |
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For the Year Ended December 31, 2012 |
|
First Quarter |
|
Second Quarter |
|
Third Quarter |
|
Fourth Quarter |
Revenues |
$ |
127,359 |
|
|
$ |
123,074 |
|
|
$ |
125,067 |
|
|
$ |
132,635 |
|
Operating income (loss) |
$ |
34,651 |
|
|
$ |
32,069 |
|
|
$ |
(10,844 |
) |
|
$ |
33,190 |
|
Income (loss) from continuing operations |
$ |
13,184 |
|
|
$ |
10,336 |
|
|
$ |
(32,048 |
) |
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$ |
16,495 |
|
Discontinued operations |
$ |
(2,949 |
) |
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$ |
1,504 |
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|
$ |
11,283 |
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|
$ |
2,515 |
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Net income (loss) |
$ |
10,235 |
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|
$ |
11,861 |
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|
$ |
(20,765 |
) |
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$ |
19,010 |
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Net loss (income) attributable to noncontrolling interests |
60 |
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|
(556 |
) |
|
1,603 |
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|
(471 |
) |
Net income (loss) attributable to COPT |
10,295 |
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|
11,305 |
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(19,162 |
) |
|
18,539 |
|
Preferred share dividends |
(4,025 |
) |
|
(4,167 |
) |
|
(6,546 |
) |
|
(6,106 |
) |
Issuance costs associated with redeemed preferred shares |
— |
|
|
— |
|
|
(1,827 |
) |
|
— |
|
Net income (loss) attributable to COPT common shareholders |
$ |
6,270 |
|
|
$ |
7,138 |
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|
$ |
(27,535 |
) |
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$ |
12,433 |
|
Basic earnings per common share |
$ |
0.09 |
|
|
$ |
0.10 |
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|
$ |
(0.39 |
) |
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$ |
0.16 |
|
Diluted earnings per common share |
$ |
0.09 |
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$ |
0.10 |
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$ |
(0.39 |
) |
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$ |
0.16 |
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Corporate Office Properties, L.P.
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|
| Quarterly Data [Line Items] |
|
| Schedule of selected quarterly information |
The tables below set forth selected quarterly information for the years ended December 31, 2013 and 2012 (in thousands, except per share data).
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For the Year Ended December 31, 2013 |
|
First Quarter |
|
Second Quarter |
|
Third Quarter |
|
Fourth Quarter |
Revenues |
$ |
126,219 |
|
|
$ |
136,527 |
|
|
$ |
131,812 |
|
|
$ |
128,802 |
|
Operating income |
$ |
36,165 |
|
|
$ |
40,229 |
|
|
$ |
30,673 |
|
|
$ |
34,843 |
|
Income (loss) from continuing operations |
$ |
11,662 |
|
|
$ |
(232 |
) |
|
$ |
10,974 |
|
|
$ |
14,432 |
|
Discontinued operations |
$ |
1,261 |
|
|
$ |
(4,502 |
) |
|
$ |
(12,974 |
) |
|
$ |
71,907 |
|
Net income (loss) |
$ |
15,277 |
|
|
$ |
(4,405 |
) |
|
$ |
(2,000 |
) |
|
$ |
92,672 |
|
Net loss (income) attributable to noncontrolling interests |
336 |
|
|
(1,473 |
) |
|
(1,035 |
) |
|
(1,735 |
) |
Net income (loss) attributable to COPLP |
15,613 |
|
|
(5,878 |
) |
|
(3,035 |
) |
|
90,937 |
|
Preferred unit distributions |
(6,271 |
) |
|
(5,050 |
) |
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(4,655 |
) |
|
(4,655 |
) |
Issuance costs associated with redeemed preferred units |
— |
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(2,904 |
) |
|
— |
|
|
— |
|
Net income (loss) attributable to COPLP common unitholders |
$ |
9,342 |
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|
$ |
(13,832 |
) |
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$ |
(7,690 |
) |
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$ |
86,282 |
|
Basic earnings per common unit |
$ |
0.11 |
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|
$ |
(0.16 |
) |
|
$ |
(0.09 |
) |
|
$ |
0.94 |
|
Diluted earnings per common unit |
$ |
0.11 |
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$ |
(0.16 |
) |
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$ |
(0.09 |
) |
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$ |
0.94 |
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For the Year Ended December 31, 2012 |
|
First Quarter |
|
Second Quarter |
|
Third Quarter |
|
Fourth Quarter |
Revenues |
$ |
127,359 |
|
|
$ |
123,074 |
|
|
$ |
125,067 |
|
|
$ |
132,635 |
|
Operating income (loss) |
$ |
34,651 |
|
|
$ |
32,069 |
|
|
$ |
(10,844 |
) |
|
$ |
33,190 |
|
Income (loss) from continuing operations |
$ |
13,184 |
|
|
$ |
10,336 |
|
|
$ |
(32,048 |
) |
|
$ |
16,495 |
|
Discontinued operations |
$ |
(2,949 |
) |
|
$ |
1,504 |
|
|
$ |
11,283 |
|
|
$ |
2,515 |
|
Net income (loss) |
$ |
10,235 |
|
|
$ |
11,861 |
|
|
$ |
(20,765 |
) |
|
$ |
19,010 |
|
Net loss (income) attributable to noncontrolling interests |
570 |
|
|
1 |
|
|
(404 |
) |
|
340 |
|
Net income (loss) attributable to COPLP |
10,805 |
|
|
11,862 |
|
|
(21,169 |
) |
|
19,350 |
|
Preferred unit distributions |
(4,190 |
) |
|
(4,332 |
) |
|
(6,711 |
) |
|
(6,271 |
) |
Issuance costs associated with redeemed preferred units |
— |
|
|
— |
|
|
(1,827 |
) |
|
— |
|
Net income (loss) attributable to COPLP common unitholders |
$ |
6,615 |
|
|
$ |
7,530 |
|
|
$ |
(29,707 |
) |
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$ |
13,079 |
|
Basic earnings per common unit |
$ |
0.09 |
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$ |
0.10 |
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$ |
(0.39 |
) |
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$ |
0.16 |
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Diluted earnings per common unit |
$ |
0.09 |
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$ |
0.10 |
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$ |
(0.39 |
) |
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$ |
0.16 |
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