Quarterly report pursuant to Section 13 or 15(d)

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

v2.4.1.9
Earnings Per Share ("EPS") and Earnings Per Unit ("EPU") (Tables)
 3 Months Ended
Mar. 31, 2015
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,
 
 
2015
 
2014
Numerator:
 
 
 
 
Income from continuing operations
 
$
10,987

 
$
5,660

Gain on sales of real estate, net
 
3,986

 
—

Preferred share dividends
 
(3,552
)
 
(4,490
)
Income from continuing operations attributable to noncontrolling interests
 
(1,392
)
 
(932
)
Income from continuing operations attributable to restricted shares
 
(122
)
 
(121
)
Numerator for basic and diluted EPS from continuing operations attributable to COPT common shareholders
 
$
9,907

 
$
117

Discontinued operations
 
(238
)
 
11

Discontinued operations attributable to noncontrolling interests
 
12

 
2

Numerator for basic and diluted EPS on net income attributable to COPT common shareholders
 
$
9,681

 
$
130

Denominator (all weighted averages):
 
 
 
 
Denominator for basic EPS (common shares)
 
93,199

 
87,080

Dilutive effect of share-based compensation awards
 
198

 
112

Denominator for diluted EPS (common shares)
 
93,397

 
87,192

Basic EPS:
 
 
 
 
Income from continuing operations attributable to COPT common shareholders
 
$
0.10

 
$
0.00

Discontinued operations attributable to COPT common shareholders
 
0.00

 
0.00

Net income attributable to COPT common shareholders
 
$
0.10

 
$
0.00

Diluted EPS:
 
 
 
 
Income from continuing operations attributable to COPT common shareholders
 
$
0.10

 
$
0.00

Discontinued operations attributable to COPT common shareholders
 
0.00

 
0.00

Net income attributable to COPT common shareholders
 
$
0.10

 
$
0.00

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,
 
 
2015
 
2014
Conversion of common units
 
3,732

 
3,958

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,
 
 
2015
 
2014
Numerator:
 
 
 
 
Income from continuing operations
 
$
10,987

 
$
5,660

Gain on sales of real estate, net
 
3,986

 
—

Preferred unit distributions
 
(3,717
)
 
(4,655
)
Income from continuing operations attributable to noncontrolling interests
 
(821
)
 
(739
)
Income from continuing operations attributable to restricted units
 
(122
)
 
(121
)
Numerator for basic and diluted EPU from continuing operations attributable to COPLP common unitholders
 
$
10,313

 
$
145

Discontinued operations
 
(238
)
 
11

Discontinued operations attributable to noncontrolling interests
 
3

 
2

Numerator for basic and diluted EPU on net income attributable to COPLP common unitholders
 
$
10,078

 
$
158

Denominator (all weighted averages):
 
 
 
 
Denominator for basic EPU (common units)
 
96,931

 
91,038

Dilutive effect of share-based compensation awards
 
198

 
112

Denominator for basic and diluted EPU (common units)
 
97,129

 
91,150

Basic EPU:
 
 
 
 
Income from continuing operations attributable to COPLP common unitholders
 
$
0.10

 
$
0.00

Discontinued operations attributable to COPLP common unitholders
 
0.00

 
0.00

Net income attributable to COPLP common unitholders
 
$
0.10

 
$
0.00

Diluted EPU:
 
 
 
 
Income from continuing operations attributable to COPLP common unitholders
 
$
0.10

 
$
0.00

Discontinued operations attributable to COPLP common unitholders
 
0.00

 
0.00

Net income attributable to COPLP common unitholders
 
$
0.10

 
$
0.00

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,
 
 
2015
 
2014
Conversion of Series I preferred units
 
176

 
176

Conversion of Series K preferred units
 
434

 
434