Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.6
Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
Properties, net:    
Operating properties, net $ 2,597,666 $ 2,714,056
Projects in development or held for future development 565,378 638,919
Total properties, net 3,163,044 3,352,975
Assets held for sale, net 140,229 116,616
Cash and cash equivalents 10,594 5,559
Restricted cash and marketable securities 21,557 36,232
Accounts receivable (net of allowance for doubtful accounts of $4,694 and $3,546, respectively) 19,247 26,032
Deferred rent receivable 85,802 86,856
Intangible assets on real estate acquisitions, net 75,879 89,120
Deferred leasing and financing costs, net 59,952 66,515
Prepaid expenses and other assets 77,455 83,650
Total assets 3,653,759 3,863,555
Liabilities:    
Debt, net 2,019,168 2,426,303
Accounts payable and accrued expenses 97,922 95,714
Rents received in advance and security deposits 27,632 29,548
Dividends and distributions payable 28,698 35,038
Deferred revenue associated with operating leases 11,995 15,554
Distributions received in excess of investment in unconsolidated real estate joint venture 6,420 6,071
Interest rate derivatives 6,185 30,863
Other liabilities 8,942 9,657
Total liabilities 2,206,962 2,648,748
Commitments and contingencies (Note 20)      
Redeemable noncontrolling interest 10,298 8,908
Corporate Office Properties Trust’ s shareholders’ equity:    
Preferred Shares of beneficial interest at liquidation preference 333,833 216,333
Common Shares of beneficial interest ($0.01 par value; 125,000,000 shares authorized, shares issued and outstanding of 80,952,986 at December 31, 2012 and 72,011,324 at December 31, 2011) 809 720
Additional paid-in capital 1,653,672 1,451,078
Cumulative distributions in excess of net income (617,455) (534,041)
Accumulated other comprehensive loss (5,435) (1,733)
Total Corporate Office Properties Trust’s shareholders’ equity 1,365,424 1,132,357
Noncontrolling interests in subsidiaries:    
Common units in the Operating Partnership 52,122 55,183
Preferred units in the Operating Partnership 8,800 8,800
Other consolidated entities 10,153 9,559
Noncontrolling interests in subsidiaries 71,075 73,542
Total equity 1,436,499 1,205,899
Total liabilities and equity $ 3,653,759 $ 3,863,555