Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2015
Dec. 31, 2014
Properties, net:    
Operating properties, net $ 2,932,843 $ 2,751,488
Projects in development or held for future development 414,757 545,426
Total properties, net 3,347,600 3,296,914
Assets held for sale, net 150,572 14,339
Cash and cash equivalents 3,840 6,077
Restricted cash and marketable securities 9,286 9,069
Accounts receivable (net of allowance for doubtful accounts of $2,010 and $717, respectively) 19,962 26,901
Deferred rent receivable (net of allowance of $1,816 and $1,418, respectively) 103,064 95,910
Intangible assets on real estate acquisitions, net 106,174 43,854
Deferred leasing and financing costs, net 64,367 64,797
Investing receivables 46,821 52,147
Prepaid expenses and other assets, net 66,787 60,249
Total assets 3,918,473 3,670,257
Liabilities:    
Debt, net 2,121,240 1,920,057
Accounts payable and accrued expenses 98,551 123,035
Rents received in advance and security deposits 34,504 31,011
Dividends and distributions payable 30,182 29,862
Deferred revenue associated with operating leases 20,113 13,031
Interest rate derivatives 5,844 1,855
Other liabilities 8,524 12,105
Total liabilities $ 2,318,958 $ 2,130,956
Commitments and contingencies
Redeemable noncontrolling interest $ 19,608 $ 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 September 30, 2015 and December 31, 2014) 199,083 199,083
Common Shares of beneficial interest 945 933
Additional paid-in capital 2,002,730 1,969,968
Cumulative distributions in excess of net income (686,986) (717,264)
Accumulated other comprehensive loss (5,823) (1,297)
Total Corporate Office Properties Trust’s shareholders’ equity 1,509,949 1,451,423
Noncontrolling interests in subsidiaries:    
Common units in COPLP 50,992 51,534
Preferred units in COPLP 8,800 8,800
Other consolidated entities 10,166 9,127
Noncontrolling interests in subsidiaries 69,958 69,461
Total equity 1,579,907 1,520,884
Total liabilities, redeemable noncontrolling interest and equity 3,918,473 3,670,257
Corporate Office Properties, L.P.    
Properties, net:    
Operating properties, net 2,932,843 2,751,488
Projects in development or held for future development 414,757 545,426
Total properties, net 3,347,600 3,296,914
Assets held for sale, net 150,572 14,339
Cash and cash equivalents 3,840 6,077
Restricted cash and marketable securities 3,787 3,187
Accounts receivable (net of allowance for doubtful accounts of $2,010 and $717, respectively) 19,962 26,901
Deferred rent receivable (net of allowance of $1,816 and $1,418, respectively) 103,064 95,910
Intangible assets on real estate acquisitions, net 106,174 43,854
Deferred leasing and financing costs, net 64,367 64,797
Investing receivables 46,821 52,147
Prepaid expenses and other assets, net 66,787 60,249
Total assets 3,912,974 3,664,375
Liabilities:    
Debt, net 2,121,240 1,920,057
Accounts payable and accrued expenses 98,551 123,035
Rents received in advance and security deposits 34,504 31,011
Dividends and distributions payable 30,182 29,862
Deferred revenue associated with operating leases 20,113 13,031
Interest rate derivatives 5,844 1,855
Other liabilities 3,025 6,223
Total liabilities $ 2,313,459 $ 2,125,074
Commitments and contingencies
Redeemable noncontrolling interest $ 19,608 $ 18,417
Corporate Office Properties Trust’s shareholders’ equity:    
Common Shares of beneficial interest 1,367,904 1,305,219
Accumulated other comprehensive loss (6,086) (1,381)
Total Corporate Office Properties Trust’s shareholders’ equity 1,569,701 1,511,721
Noncontrolling interests in subsidiaries:    
Noncontrolling interests in subsidiaries 10,206 9,163
Total equity 1,579,907 1,520,884
Total liabilities, redeemable noncontrolling interest and equity 3,912,974 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