COPT Defense Properties Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Construction Contract and Other Service Revenues (Tables)

Construction Contract and Other Service Revenues (Tables)

6 Months Ended

Jun. 30, 2026

Revenue from Contract with Customer [Abstract]

Schedule of Construction Contract and Other Service Revenues by Compensation Arrangement

We disaggregate in the table below our construction contract and other service revenues by compensation arrangement as we believe it best depicts the nature, timing, and uncertainty of our revenue (in thousands):


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2026		2025		2026		2025
Construction contract revenue
Cost-plus fee	$	2,339	$	1,836	$	3,948	$	2,907
Firm fixed price	2,263		5,536		4,005		11,813
Guaranteed maximum price	1,884		4,824		4,222		7,454
Other	280		262		632		543
	$	6,766	$	12,458	$	12,807	$	22,717

Schedule of Accounts Receivable, Contract Assets and Contract Liabilities

The beginning and ending balances of accounts receivable related to our construction contracts were as follows (in thousands):


	For the Six Months Ended June 30,
	2026		2025
Beginning balance	$	4,036	$	8,828
Ending balance	$	2,571	$	4,858

The beginning and ending balances of our contract assets were as follows (in thousands):


	For the Six Months Ended June 30,
	2026		2025
Beginning balance	$	17,925	$	17,050
Ending balance	$	16,354	$	13,016

Changes in contract liabilities were as follows (in thousands):


	For the Six Months Ended June 30,
	2026		2025
Beginning balance	$	2,183	$	2,016
Ending balance	$	1,751	$	2,448
Portion of beginning balance recognized in revenue during:
Three months ended June 30,	$	309	$	85
Six months ended June 30,	$	545	$	185