COPT Defense Properties Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Properties, net:
Operating properties, net	$ 2,751,488us-gaap_RentalProperties	$ 2,702,693us-gaap_RentalProperties
Projects in development or held for future development	545,426us-gaap_DevelopmentInProcess	511,608us-gaap_DevelopmentInProcess
Total properties, net	3,296,914us-gaap_RealEstateInvestmentPropertyNet	3,214,301us-gaap_RealEstateInvestmentPropertyNet
Assets held for sale, net	14,339	0
Cash and cash equivalents	6,077	54,373
Restricted cash and marketable securities	9,069	11,448
Accounts receivable (net of allowance for doubtful accounts of $717 and $2,976, respectively)	26,901us-gaap_AccountsReceivableNet	27,000us-gaap_AccountsReceivableNet
Deferred rent receivable (net of allowance of $1,418 and $2,126, respectively)	95,910us-gaap_DeferredRentReceivablesNet	89,456us-gaap_DeferredRentReceivablesNet
Intangible assets on real estate acquisitions, net	43,854	59,258
Deferred leasing and financing costs, net	64,797	66,267
Investing receivables	52,147us-gaap_NotesReceivableNet	53,663us-gaap_NotesReceivableNet
Prepaid expenses and other assets	60,249us-gaap_PrepaidExpenseAndOtherAssets	54,186us-gaap_PrepaidExpenseAndOtherAssets
Total assets	3,670,257us-gaap_Assets	3,629,952us-gaap_Assets
Liabilities:
Debt, net	1,920,057us-gaap_LongTermDebt	1,927,703us-gaap_LongTermDebt
Accounts payable and accrued expenses	123,035	98,785
Rents received in advance and security deposits	31,011	31,492
Dividends and distributions payable	29,862	29,080
Deferred revenue associated with operating leases	13,031us-gaap_DeferredRevenueLeasesNet	10,369us-gaap_DeferredRevenueLeasesNet
Interest rate derivatives	1,855	3,309
Other liabilities	12,105us-gaap_OtherLiabilities	14,207us-gaap_OtherLiabilities
Total liabilities	2,130,956us-gaap_Liabilities	2,114,945us-gaap_Liabilities
Commitments and contingencies (Note 23)
Redeemable noncontrolling interest	18,417	17,758
Corporate Office Properties Trust’s shareholders’ equity:
Preferred Shares of beneficial interest at liquidation preference	199,083	249,083
Common Shares of beneficial interest ($0.01 par value; 125,000,000 shares authorized, shares issued and outstanding of 93,255,284 at December 31, 2014 and 87,394,512 at December 31, 2013)	933us-gaap_CommonStockValue	874us-gaap_CommonStockValue
Additional paid-in capital	1,969,968us-gaap_AdditionalPaidInCapital	1,814,015us-gaap_AdditionalPaidInCapital
Cumulative distributions in excess of net income	(717,264)	(641,868)
Accumulated other comprehensive (loss) income	(1,297)	3,480
Total Corporate Office Properties Trust’s shareholders’ equity	1,451,423us-gaap_StockholdersEquity	1,425,584us-gaap_StockholdersEquity
Noncontrolling interests in subsidiaries:
Common units in COPLP	51,534	53,468
Preferred units in COPLP	8,800	8,800
Other consolidated entities	9,127	9,397
Noncontrolling interests in subsidiaries	69,461us-gaap_MinorityInterest	71,665us-gaap_MinorityInterest
Total equity	1,520,884	1,497,249
Total liabilities, redeemable noncontrolling interest and equity	3,670,257	3,629,952
Corporate Office Properties, L.P.
Properties, net:
Operating properties, net	2,751,488	2,702,693
Projects in development or held for future development	545,426	511,608
Total properties, net	3,296,914	3,214,301
Assets held for sale, net	14,339	0
Cash and cash equivalents	6,077	54,373
Restricted cash and marketable securities	3,187	3,981
Accounts receivable (net of allowance for doubtful accounts of $717 and $2,976, respectively)	26,901	27,000
Deferred rent receivable (net of allowance of $1,418 and $2,126, respectively)	95,910	89,456
Intangible assets on real estate acquisitions, net	43,854	59,258
Deferred leasing and financing costs, net	64,797	66,267
Investing receivables	52,147	53,663
Prepaid expenses and other assets	60,249	54,186
Total assets	3,664,375	3,622,485
Liabilities:
Debt, net	1,920,057	1,927,703
Accounts payable and accrued expenses	123,035	98,785
Rents received in advance and security deposits	31,011	31,492
Dividends and distributions payable	29,862	29,080
Deferred revenue associated with operating leases	13,031	10,369
Interest rate derivatives	1,855	3,309
Other liabilities	6,223	6,740
Total liabilities	2,125,074	2,107,478
Commitments and contingencies (Note 23)
Redeemable noncontrolling interest	18,417	17,758
Corporate Office Properties Trust’s shareholders’ equity:
Preferred Shares of beneficial interest at liquidation preference	199,083
Common Shares of beneficial interest ($0.01 par value; 125,000,000 shares authorized, shares issued and outstanding of 93,255,284 at December 31, 2014 and 87,394,512 at December 31, 2013)	1,305,219	1,226,318
Accumulated other comprehensive (loss) income	(1,381)	3,605
Total Corporate Office Properties Trust’s shareholders’ equity	1,511,721	1,487,806
Noncontrolling interests in subsidiaries:
Noncontrolling interests in subsidiaries	9,163	9,443
Total equity	1,520,884	1,497,249
Total liabilities, redeemable noncontrolling interest and equity	3,664,375	3,622,485
Corporate Office Properties, L.P. \| General Partner
Corporate Office Properties Trust’s shareholders’ equity:
Preferred Units, Preferred Partners' Capital Accounts	199,083	249,083
Corporate Office Properties, L.P. \| Limited Partner
Corporate Office Properties Trust’s shareholders’ equity:
Preferred Units, Preferred Partners' Capital Accounts	$ 8,800	$ 8,800