Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.3.1.900
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Properties, net:    
Operating properties, net $ 2,920,529 $ 2,751,488
Projects in development or held for future development 429,219 545,426
Total properties, net 3,349,748 3,296,914
Assets held for sale, net 96,782 14,339
Cash and cash equivalents 60,310 6,077
Restricted cash and marketable securities 7,716 9,069
Accounts receivable (net of allowance for doubtful accounts of $1,525 and $717, respectively) 29,167 30,698
Deferred rent receivable (net of allowance of $1,962 and $1,418, respectively) 105,484 95,910
Intangible assets on real estate acquisitions, net 98,338 43,854
Deferred leasing costs (net of accumulated amortization of $66,364 and $69,998, respectively) 53,868 53,927
Investing receivables 47,875 52,147
Prepaid expenses and other assets, net 60,024 61,301
Total assets 3,909,312 3,664,236
Liabilities:    
Debt, net 2,077,752 1,914,036
Accounts payable and accrued expenses 91,755 123,035
Rents received in advance and security deposits 37,148 31,011
Dividends and distributions payable 30,178 29,862
Deferred revenue associated with operating leases 19,758 13,031
Interest rate derivatives 3,160 1,855
Other liabilities 13,779 12,105
Total liabilities $ 2,273,530 $ 2,124,935
Commitments and contingencies
Redeemable noncontrolling interest $ 19,218 $ 18,417
Corporate Office Properties Trust’s shareholders’ equity:    
Preferred Shares of beneficial interest at liquidation preference 199,083 199,083
Common Shares of beneficial interest ($0.01 par value; 125,000,000 shares authorized, shares issued and outstanding of 94,531,512 at December 31, 2015 and 93,255,284 at December 31, 2014) 945 933
Additional paid-in capital 2,004,507 1,969,968
Cumulative distributions in excess of net income (657,172) (717,264)
Accumulated other comprehensive loss (2,838) (1,297)
Total Corporate Office Properties Trust’s shareholders’ equity 1,544,525 1,451,423
Noncontrolling interests in subsidiaries:    
Common units in COPLP 52,359 51,534
Preferred units in COPLP 8,800 8,800
Other consolidated entities 10,880 9,127
Noncontrolling interests in subsidiaries 72,039 69,461
Total equity 1,616,564 1,520,884
Total liabilities, redeemable noncontrolling interest and equity 3,909,312 3,664,236
Corporate Office Properties, L.P. [Member]    
Properties, net:    
Operating properties, net 2,920,529 2,751,488
Projects in development or held for future development 429,219 545,426
Total properties, net 3,349,748 3,296,914
Assets held for sale, net 96,782 14,339
Cash and cash equivalents 60,310 6,077
Restricted cash and marketable securities 1,953 3,187
Accounts receivable (net of allowance for doubtful accounts of $1,525 and $717, respectively) 29,167 30,698
Deferred rent receivable (net of allowance of $1,962 and $1,418, respectively) 105,484 95,910
Intangible assets on real estate acquisitions, net 98,338 43,854
Deferred leasing costs (net of accumulated amortization of $66,364 and $69,998, respectively) 53,868 53,927
Investing receivables 47,875 52,147
Prepaid expenses and other assets, net 60,024 61,301
Total assets 3,903,549 3,658,354
Liabilities:    
Debt, net 2,077,752 1,914,036
Accounts payable and accrued expenses 91,755 123,035
Rents received in advance and security deposits 37,148 31,011
Dividends and distributions payable 30,178 29,862
Deferred revenue associated with operating leases 19,758 13,031
Interest rate derivatives 3,160 1,855
Other liabilities 8,016 6,223
Total liabilities $ 2,267,767 $ 2,119,053
Commitments and contingencies
Redeemable noncontrolling interest $ 19,218 $ 18,417
Corporate Office Properties Trust’s shareholders’ equity:    
Preferred Shares of beneficial interest at liquidation preference 199,083  
Common Shares of beneficial interest ($0.01 par value; 125,000,000 shares authorized, shares issued and outstanding of 94,531,512 at December 31, 2015 and 93,255,284 at December 31, 2014) 1,400,745 1,305,219
Accumulated other comprehensive loss (2,985) (1,381)
Total Corporate Office Properties Trust’s shareholders’ equity 1,605,643 1,511,721
Noncontrolling interests in subsidiaries:    
Noncontrolling interests in subsidiaries 10,921 9,163
Total equity 1,616,564 1,520,884
Total liabilities, redeemable noncontrolling interest and equity 3,903,549 3,658,354
Corporate Office Properties, L.P. [Member] | General Partner [Member]    
Corporate Office Properties Trust’s shareholders’ equity:    
Preferred Units, Preferred Partners' Capital Accounts 199,083 199,083
Corporate Office Properties, L.P. [Member] | Limited Partner [Member]    
Corporate Office Properties Trust’s shareholders’ equity:    
Preferred Units, Preferred Partners' Capital Accounts $ 8,800 $ 8,800