Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share ("EPS") and Earnings Per Unit ("EPU") (Tables)

v2.4.0.8
Earnings Per Share ("EPS") and Earnings Per Unit ("EPU") (Tables)
 3 Months Ended
Mar. 31, 2014
Earnings Per Share [Line Items]  
Summary of calculation of numerator and denominator in basic and diluted earnings per share
Summaries of the numerator and denominator for purposes of basic and diluted EPS calculations are set forth below (in thousands, except per share data):
 
For the Three Months Ended March 31,
 
2014
 
2013
Numerator:
 
 
 
Income from continuing operations
$
5,660

 
$
11,662

Gain on sales of real estate, net
—

 
2,354

Preferred share dividends
(4,490
)
 
(6,106
)
Income from continuing operations attributable to noncontrolling interests
(932
)
 
(167
)
Income from continuing operations attributable to restricted shares
(121
)
 
(118
)
Numerator for basic and diluted EPS from continuing operations attributable to COPT common shareholders
$
117

 
$
7,625

Discontinued operations
11

 
1,261

Discontinued operations attributable to noncontrolling interests
2

 
(90
)
Numerator for basic and diluted EPS on net income attributable to COPT common shareholders
$
130

 
$
8,796

Denominator (all weighted averages):
 
 
 
Denominator for basic EPS (common shares)
87,080

 
81,397

Dilutive effect of share-based compensation awards
112

 
52

Denominator for diluted EPS (common shares)
87,192

 
81,449

Basic EPS:
 
 
 
Income from continuing operations attributable to COPT common shareholders
$
0.00

 
$
0.09

Discontinued operations attributable to COPT common shareholders
0.00

 
0.02

Net income attributable to COPT common shareholders
$
0.00

 
$
0.11

Diluted EPS:
 
 
 
Income from continuing operations attributable to COPT common shareholders
$
0.00

 
$
0.09

Discontinued operations attributable to COPT common shareholders
0.00

 
0.02

Net income attributable to COPT common shareholders
$
0.00

 
$
0.11

Schedule of securities excluded from computation of diluted earnings per share
Our diluted EPS computations do not include the effects of the following securities since the conversions of such securities would increase diluted EPS for the respective periods (in thousands):
 
Weighted Average Shares Excluded from Denominator
 
 
For the Three Months Ended March 31,
 
 
2014
 
2013
Conversion of common units
 
3,958

 
3,893

Conversion of Series I Preferred Units
 
176

 
176

Conversion of Series K Preferred Shares
 
434

 
434

Corporate Office Properties, L.P.
  
Earnings Per Share [Line Items]  
Summary of calculation of numerator and denominator in basic and diluted earnings per share
Summaries of the numerator and denominator for purposes of basic and diluted EPU calculations are set forth below (in thousands, except per unit data):
 
 
For the Three Months Ended March 31,
 
 
2014
 
2013
Numerator:
 
 
 
 
Income from continuing operations
 
$
5,660

 
$
11,662

Gain on sales of real estate, net
 
—

 
2,354

Preferred unit distributions
 
(4,655
)
 
(6,271
)
(Income) loss from continuing operations attributable to noncontrolling interests
 
(739
)
 
369

Income from continuing operations attributable to restricted units
 
(121
)
 
(118
)
Numerator for basic and diluted EPU from continuing operations attributable to COPLP common unitholders
 
$
145

 
$
7,996

Discontinued operations
 
11

 
1,261

Discontinued operations attributable to noncontrolling interests
 
2

 
(33
)
Numerator for basic and diluted EPU on net income attributable to COPLP common unitholders
 
$
158

 
$
9,224

Denominator (all weighted averages):
 
 
 
 
Denominator for basic EPU (common units)
 
91,038

 
85,290

Dilutive effect of share-based compensation awards
 
112

 
52

Denominator for basic and diluted EPU (common units)
 
91,150

 
85,342

Basic EPU:
 
 
 
 
Income from continuing operations attributable to COPLP common unitholders
 
$
0.00

 
$
0.09

Discontinued operations attributable to COPLP common unitholders
 
0.00

 
0.02

Net income attributable to COPLP common unitholders
 
$
0.00

 
$
0.11

Diluted EPU:
 
 
 
 
Income from continuing operations attributable to COPLP common unitholders
 
$
0.00

 
$
0.09

Discontinued operations attributable to COPLP common unitholders
 
0.00

 
0.02

Net income attributable to COPLP common unitholders
 
$
0.00

 
$
0.11

Schedule of securities excluded from computation of diluted earnings per share
Our diluted EPU computations do not include the effects of the following securities since the conversions of such securities would increase diluted EPU for the respective periods (in thousands):
 
Weighted Average Units Excluded from Denominator
 
 
For the Three Months Ended March 31,
 
 
2014
 
2013
Conversion of Series I preferred units
 
176

 
176

Conversion of Series K preferred units
 
434

 
434