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Quarterly Data (Unaudited) (Tables)
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12 Months Ended |
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Dec. 31, 2014
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| Quarterly Data [Line Items] |
|
| Schedule of selected quarterly information |
Certain of the amounts below have been reclassified to conform to the current period presentation of our consolidated financial statements.
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For the Year Ended December 31, 2014 |
|
First Quarter |
|
Second Quarter |
|
Third Quarter |
|
Fourth Quarter |
Revenues |
$ |
146,667 |
|
|
$ |
139,820 |
|
|
$ |
153,015 |
|
|
$ |
146,971 |
|
Operating income |
$ |
25,206 |
|
|
$ |
31,836 |
|
|
$ |
37,422 |
|
|
$ |
37,148 |
|
Income from continuing operations |
$ |
5,660 |
|
|
$ |
9,248 |
|
|
$ |
13,727 |
|
|
$ |
5,874 |
|
Discontinued operations |
$ |
11 |
|
|
$ |
(198 |
) |
|
$ |
191 |
|
|
$ |
22 |
|
Net income |
$ |
5,671 |
|
|
$ |
9,050 |
|
|
$ |
24,548 |
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|
$ |
5,937 |
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Net income attributable to noncontrolling interests |
(930 |
) |
|
(1,160 |
) |
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(1,828 |
) |
|
(1,033 |
) |
Net income attributable to COPT |
4,741 |
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|
7,890 |
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|
22,720 |
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|
4,904 |
|
Preferred share dividends |
(4,490 |
) |
|
(4,344 |
) |
|
(3,553 |
) |
|
(3,552 |
) |
Issuance costs associated with redeemed preferred shares |
— |
|
|
(1,769 |
) |
|
— |
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|
— |
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Net income attributable to COPT common shareholders |
$ |
251 |
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$ |
1,777 |
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$ |
19,167 |
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$ |
1,352 |
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Basic earnings per common share |
$ |
0.00 |
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|
$ |
0.02 |
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$ |
0.22 |
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|
$ |
0.01 |
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Diluted earnings per common share |
$ |
0.00 |
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$ |
0.02 |
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$ |
0.22 |
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$ |
0.01 |
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For the Year Ended December 31, 2013 |
|
First Quarter |
|
Second Quarter |
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Third Quarter |
|
Fourth Quarter |
Revenues |
$ |
126,219 |
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|
$ |
136,527 |
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$ |
131,812 |
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|
$ |
128,802 |
|
Operating income |
$ |
36,165 |
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|
$ |
40,229 |
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|
$ |
30,673 |
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|
$ |
34,843 |
|
Income (loss) from continuing operations |
$ |
11,662 |
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|
$ |
(232 |
) |
|
$ |
10,974 |
|
|
$ |
14,432 |
|
Discontinued operations |
$ |
1,261 |
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|
$ |
(4,502 |
) |
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$ |
(12,974 |
) |
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$ |
71,907 |
|
Net income (loss) |
$ |
15,277 |
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|
$ |
(4,405 |
) |
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$ |
(2,000 |
) |
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$ |
92,672 |
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Net income attributable to noncontrolling interests |
(257 |
) |
|
(960 |
) |
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(964 |
) |
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(5,656 |
) |
Net income (loss) attributable to COPT |
15,020 |
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(5,365 |
) |
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(2,964 |
) |
|
87,016 |
|
Preferred share dividends |
(6,106 |
) |
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(4,885 |
) |
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(4,490 |
) |
|
(4,490 |
) |
Issuance costs associated with redeemed preferred shares |
— |
|
|
(2,904 |
) |
|
— |
|
|
— |
|
Net income (loss) attributable to COPT common shareholders |
$ |
8,914 |
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|
$ |
(13,154 |
) |
|
$ |
(7,454 |
) |
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$ |
82,526 |
|
Basic earnings per common share |
$ |
0.11 |
|
|
$ |
(0.16 |
) |
|
$ |
(0.09 |
) |
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$ |
0.94 |
|
Diluted earnings per common share |
$ |
0.11 |
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$ |
(0.16 |
) |
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$ |
(0.09 |
) |
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$ |
0.94 |
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| Corporate Office Properties, L.P. |
|
| Quarterly Data [Line Items] |
|
| Schedule of selected quarterly information |
The tables below set forth selected quarterly information for the years ended December 31, 2014 and 2013 (in thousands, except per share data).
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For the Year Ended December 31, 2014 |
|
First Quarter |
|
Second Quarter |
|
Third Quarter |
|
Fourth Quarter |
Revenues |
$ |
146,667 |
|
|
$ |
139,820 |
|
|
$ |
153,015 |
|
|
$ |
146,971 |
|
Operating income |
$ |
25,206 |
|
|
$ |
31,836 |
|
|
$ |
37,422 |
|
|
$ |
37,148 |
|
Income from continuing operations |
$ |
5,660 |
|
|
$ |
9,248 |
|
|
$ |
13,727 |
|
|
$ |
5,874 |
|
Discontinued operations |
$ |
11 |
|
|
$ |
(198 |
) |
|
$ |
191 |
|
|
$ |
22 |
|
Net income |
$ |
5,671 |
|
|
$ |
9,050 |
|
|
$ |
24,548 |
|
|
$ |
5,937 |
|
Net income attributable to noncontrolling interests |
(737 |
) |
|
(837 |
) |
|
(897 |
) |
|
(805 |
) |
Net income attributable to COPLP |
4,934 |
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|
8,213 |
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|
23,651 |
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|
5,132 |
|
Preferred unit distributions |
(4,655 |
) |
|
(4,509 |
) |
|
(3,718 |
) |
|
(3,717 |
) |
Issuance costs associated with redeemed preferred units |
— |
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|
(1,769 |
) |
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— |
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|
— |
|
Net income attributable to COPLP common unitholders |
$ |
279 |
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$ |
1,935 |
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$ |
19,933 |
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$ |
1,415 |
|
Basic earnings per common unit |
$ |
0.00 |
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$ |
0.02 |
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$ |
0.22 |
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|
$ |
0.01 |
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Diluted earnings per common unit |
$ |
0.00 |
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$ |
0.02 |
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$ |
0.22 |
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$ |
0.01 |
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For the Year Ended December 31, 2013 |
|
First Quarter |
|
Second Quarter |
|
Third Quarter |
|
Fourth Quarter |
Revenues |
$ |
126,219 |
|
|
$ |
136,527 |
|
|
$ |
131,812 |
|
|
$ |
128,802 |
|
Operating income |
$ |
36,165 |
|
|
$ |
40,229 |
|
|
$ |
30,673 |
|
|
$ |
34,843 |
|
Income (loss) from continuing operations |
$ |
11,662 |
|
|
$ |
(232 |
) |
|
$ |
10,974 |
|
|
$ |
14,432 |
|
Discontinued operations |
$ |
1,261 |
|
|
$ |
(4,502 |
) |
|
$ |
(12,974 |
) |
|
$ |
71,907 |
|
Net income (loss) |
$ |
15,277 |
|
|
$ |
(4,405 |
) |
|
$ |
(2,000 |
) |
|
$ |
92,672 |
|
Net loss (income) attributable to noncontrolling interests |
336 |
|
|
(1,473 |
) |
|
(1,035 |
) |
|
(1,735 |
) |
Net income (loss) attributable to COPLP |
15,613 |
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|
(5,878 |
) |
|
(3,035 |
) |
|
90,937 |
|
Preferred unit distributions |
(6,271 |
) |
|
(5,050 |
) |
|
(4,655 |
) |
|
(4,655 |
) |
Issuance costs associated with redeemed preferred units |
— |
|
|
(2,904 |
) |
|
— |
|
|
— |
|
Net income (loss) attributable to COPLP common unitholders |
$ |
9,342 |
|
|
$ |
(13,832 |
) |
|
$ |
(7,690 |
) |
|
$ |
86,282 |
|
Basic earnings per common unit |
$ |
0.11 |
|
|
$ |
(0.16 |
) |
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$ |
(0.09 |
) |
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$ |
0.94 |
|
Diluted earnings per common unit |
$ |
0.11 |
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$ |
(0.16 |
) |
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$ |
(0.09 |
) |
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$ |
0.94 |
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