Quarterly report [Sections 13 or 15(d)]

Consolidated Balance Sheets

v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Properties, net    
Operating properties, net $ 3,521,326 $ 3,500,087
Projects in development or held for future development 292,142 283,390
Total properties, net 3,813,468 3,783,477
Property - operating lease right-of-use assets 47,405 50,383
Assets held for sale 11,194 0
Cash and cash equivalents 24,157 274,986
Investments in unconsolidated real estate joint ventures 35,521 36,368
Accounts receivable, net 53,567 58,185
Deferred rent receivable 183,463 177,921
Lease incentives, net 72,508 72,347
Investments in sales-type leases, net 48,250 3,830
Deferred leasing costs (net of accumulated amortization of $45,102 and $44,127, respectively) 76,113 75,052
Prepaid expenses and other assets, net 76,998 99,385
Total assets 4,515,281 4,701,790
Liabilities    
Debt, net 2,592,436 2,767,834
Accounts payable and accrued expenses 115,668 147,200
Rents received in advance and security deposits 37,541 37,914
Dividends and distributions payable 37,111 35,205
Deferred revenue associated with operating leases 50,560 47,714
Property - operating lease liabilities 42,485 45,012
Other liabilities 33,638 33,236
Total liabilities 2,909,439 3,114,115
Commitments and contingencies (Note 17)
Redeemable noncontrolling interest 24,881 25,506
Shareholders’ equity    
Common Shares of beneficial interest ($0.01 par value; 150,000,000 shares authorized; shares issued and outstanding of 113,411,882 at June 30, 2026 and 113,210,642 at December 31, 2025) 1,134 1,132
Additional paid-in capital 2,503,639 2,502,661
Cumulative distributions in excess of net income (976,558) (988,957)
Accumulated other comprehensive income (loss) 9 (61)
Total shareholders’ equity 1,528,224 1,514,775
Noncontrolling interests in subsidiaries    
Common units in COPT Defense Properties, L.P. (“CDPLP”) 34,296 29,317
Other consolidated entities 18,441 18,077
Noncontrolling interests in subsidiaries 52,737 47,394
Total equity 1,580,961 1,562,169
Total liabilities, redeemable noncontrolling interest, and equity 4,515,281 4,701,790
Investing Receivables    
Properties, net    
Investing receivables (net of allowance for credit losses of $2,238 and $3,575, respectively) $ 72,637 $ 69,856