COPT Defense Properties Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Properties, net:
Operating properties, net	$ 2,888,534us-gaap_RentalProperties	$ 2,751,488us-gaap_RentalProperties
Projects in development or held for future development	489,618us-gaap_DevelopmentInProcess	545,426us-gaap_DevelopmentInProcess
Total properties, net	3,378,152us-gaap_RealEstateInvestmentPropertyNet	3,296,914us-gaap_RealEstateInvestmentPropertyNet
Assets held for sale, net	0	14,339
Cash and cash equivalents	4,429	6,077
Restricted cash and marketable securities	11,445	9,069
Accounts receivable (net of allowance for doubtful accounts of $784 and $717, respectively)	33,753us-gaap_AccountsReceivableNet	26,901us-gaap_AccountsReceivableNet
Deferred rent receivable (net of allowance of $1,695 and $1,418, respectively)	98,340us-gaap_DeferredRentReceivablesNet	95,910us-gaap_DeferredRentReceivablesNet
Intangible assets on real estate acquisitions, net	61,477	43,854
Deferred leasing and financing costs, net	65,245	64,797
Investing receivables	52,814us-gaap_NotesReceivableNet	52,147us-gaap_NotesReceivableNet
Prepaid expenses and other assets	71,500us-gaap_PrepaidExpenseAndOtherAssets	60,249us-gaap_PrepaidExpenseAndOtherAssets
Total assets	3,777,155us-gaap_Assets	3,670,257us-gaap_Assets
Liabilities:
Debt, net	1,999,622us-gaap_LongTermDebt	1,920,057us-gaap_LongTermDebt
Accounts payable and accrued expenses	138,214	123,035
Rents received in advance and security deposits	31,551	31,011
Dividends and distributions payable	30,174	29,862
Deferred revenue associated with operating leases	14,697us-gaap_DeferredRevenueLeasesNet	13,031us-gaap_DeferredRevenueLeasesNet
Interest rate derivatives	4,282	1,855
Other liabilities	9,990us-gaap_OtherLiabilities	12,105us-gaap_OtherLiabilities
Total liabilities	2,228,530us-gaap_Liabilities	2,130,956us-gaap_Liabilities
Commitments and contingencies
Redeemable noncontrolling interest	18,895	18,417
Corporate Office Properties Trust’s shareholders’ equity:
Preferred Shares of beneficial interest at liquidation preference ($0.01 par value; 25,000,000 shares authorized; issued and outstanding of 7,431,667 at March 31, 2015 and December 31, 2014)	199,083	199,083
Common Shares of beneficial interest	945us-gaap_CommonStockValue	933us-gaap_CommonStockValue
Additional paid-in capital	1,999,708us-gaap_AdditionalPaidInCapital	1,969,968us-gaap_AdditionalPaidInCapital
Cumulative distributions in excess of net income	(733,459)	(717,264)
Accumulated other comprehensive loss	(3,947)	(1,297)
Total Corporate Office Properties Trust’s shareholders’ equity	1,462,330us-gaap_StockholdersEquity	1,451,423us-gaap_StockholdersEquity
Noncontrolling interests in subsidiaries:
Common units in COPLP	49,168	51,534
Preferred units in COPLP	8,800	8,800
Other consolidated entities	9,432	9,127
Noncontrolling interests in subsidiaries	67,400us-gaap_MinorityInterest	69,461us-gaap_MinorityInterest
Total equity	1,529,730	1,520,884
Total liabilities, redeemable noncontrolling interest and equity	3,777,155	3,670,257
Corporate Office Properties, L.P.
Properties, net:
Operating properties, net	2,888,534	2,751,488
Projects in development or held for future development	489,618	545,426
Total properties, net	3,378,152	3,296,914
Assets held for sale, net	0	14,339
Cash and cash equivalents	4,429	6,077
Restricted cash and marketable securities	5,509	3,187
Accounts receivable (net of allowance for doubtful accounts of $784 and $717, respectively)	33,753	26,901
Deferred rent receivable (net of allowance of $1,695 and $1,418, respectively)	98,340	95,910
Intangible assets on real estate acquisitions, net	61,477	43,854
Deferred leasing and financing costs, net	65,245	64,797
Investing receivables	52,814	52,147
Prepaid expenses and other assets	71,500	60,249
Total assets	3,771,219	3,664,375
Liabilities:
Debt, net	1,999,622	1,920,057
Accounts payable and accrued expenses	138,214	123,035
Rents received in advance and security deposits	31,551	31,011
Dividends and distributions payable	30,174	29,862
Deferred revenue associated with operating leases	14,697	13,031
Interest rate derivatives	4,282	1,855
Other liabilities	4,054	6,223
Total liabilities	2,222,594	2,125,074
Commitments and contingencies
Redeemable noncontrolling interest	18,895	18,417
Corporate Office Properties Trust’s shareholders’ equity:
Common Shares of beneficial interest	1,316,514	1,305,219
Accumulated other comprehensive loss	(4,137)	(1,381)
Total Corporate Office Properties Trust’s shareholders’ equity	1,520,260	1,511,721
Noncontrolling interests in subsidiaries:
Noncontrolling interests in subsidiaries	9,470	9,163
Total equity	1,529,730	1,520,884
Total liabilities, redeemable noncontrolling interest and equity	3,771,219	3,664,375
General Partner \| Corporate Office Properties, L.P.
Corporate Office Properties Trust’s shareholders’ equity:
Preferred partners' capital accounts	199,083	199,083
Limited Partner \| Corporate Office Properties, L.P.
Corporate Office Properties Trust’s shareholders’ equity:
Preferred partners' capital accounts	$ 8,800	$ 8,800