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CORP OFFICE PTY   FYE=12 (December)

Annual - Income Statement - Company Specific

Fiscal period2020201920182017201620152014201320122011
Period End Date12/31/202012/31/201912/31/201812/31/201712/31/201612/31/201512/31/201412/31/201312/31/201212/31/2011
Rental Revenue--------417.71420.34386.40377.61353.08332.86
Tenant recoveries and other real estate operations revenue--------108.2598.7293.3383.3981.2275.76
Lease revenue536.13522.47512.33504.89------------
Construction contract and other service revenues70.64113.7660.86102.8448.36106.40106.7562.3673.8484.35
Other service operations revenues2.604.994.935.09------------
Total Revenues609.37641.23578.11612.82574.33625.47586.47523.36508.14492.96
Property operating expenses203.84198.14201.04190.96197.53194.49179.93167.20159.21154.38
Construction contract expenses--------------------
Other service operations expenses--------------------
Construction contract and other service expenses67.62109.9658.3399.6245.48102.70100.0658.8870.5881.64
Depreciation and other amortization associated with real estate operations138.19137.07137.12134.23132.72140.03136.09113.21108.00107.00
General and administrative expenses33.0035.4028.9030.8436.5531.3631.7930.8731.9030.31
Impairment loss(1.53)(0.33)(2.37)(15.12)(101.39)(23.29)(1.42)(5.86)(43.68)(83.21)
Business development expenses(4.47)(4.24)(5.84)(6.21)(8.24)(13.51)(5.57)(5.44)(5.71)(6.12)
Total operating expenses448.65485.14433.58476.98521.92505.37454.86381.45419.07462.66
Operating Income (Loss)----------120.09131.61141.9189.0730.30
Interest expense67.9471.0575.3976.9883.1689.0792.3982.0186.4090.04
Gain on sale of non-real estate investment29.42------------------
(Loss) gain on sales of real estate30.21105.232.349.8959.68----------
Equity in loss of unconsolidated Service Companies----------------(0.55)(0.33)
Equity in income (loss) of unconsolidated real estate joint ventures--------------------
Minority interests : Common units in the Operating Partnership--------------------
Minority interests : Preferred units in the Operating Partnership--------------------
Minority interests : Other consolidated entities--------------------
Interest and other income8.577.894.366.325.444.524.923.837.175.60
Amortization of deferred financing costs--------------------
Gain on early extinguishment of debt(7.31)--(0.26)(0.51)(1.11)85.28(9.55)(27.03)(0.94)(1.64)
Loss on interest rate derivatives(53.20)----------------(29.81)
Credit loss expense0.93------------------
Income from continuing operations before income taxes and minority interests101.41198.1575.5874.5533.26120.8134.5936.708.35(85.91)
Income tax expense0.35(0.22)(0.36)1.100.240.200.311.980.38(6.71)
Deferred Tax : Federal----------------0.315.51
Deferred Tax : State----------------0.071.22
Current Tax : Federal------------------(0.02)
Current Tax : State------------------0.00
Reported on line entitled gain on sales of real estate, net--------------------
Minority interests in income from continuing operations : Common units in the Operating Partnership--------------------
Minority interests in income from continuing operations : Preferred units in the Operating Partnership--------------------
Minority interests in income from continuing operations : Other consolidated entities--------------------
Equity in loss of unconsolidated entities1.831.632.701.490.750.060.232.11----
Gain (loss) on sales of real estate--------------------
Income from continuing operations----------120.6834.5136.847.97(79.20)
Income from discontinued operations, net of minority interests----------0.160.0355.6912.35(51.11)
Income before extraordinary item and cumulative effect of accounting change--------------------
Extraordinary item-loss on early retirement of debt, net of minority interests--------------------
Gain (loss) on sales of real estate----------68.0510.679.020.022.73
Cumulative effect of accounting change, net of minority interests--------------------
Net income (loss)102.88200.0078.6474.9433.77188.8845.21101.5420.34(127.58)
Net income attributable to noncontrolling interests : Common units in the Operating Partnership1.182.361.741.890.516.401.013.28(0.09)(8.44)
Net income attributable to noncontrolling interests : Preferred units in the Operating Partnership0.300.560.660.660.660.660.660.660.660.66
Net income attributable to noncontrolling interests : Other4.025.393.943.653.713.523.293.89(1.21)(0.37)
Net income (loss) attributable to Corporate Office Properties Trust------68.7528.89178.3040.2693.71----
Preferred Share dividends------6.2214.3014.2115.9419.9720.8416.10
Issuance costs associated with redeemed preferred shares------6.850.02--1.772.901.83--
Repurchase of preferred units in excess of recorded book value--------------------
Net income available to common shareholders97.37191.6972.3055.6814.58164.0922.5570.83(1.69)(135.53)
Income from continuing operations----------1.740.250.21(0.19)(1.28)
EPS (Basic) : Income from discontinued operations--------------0.620.16(0.69)
Extraordinary item--------------------
Cumulative effect of accounting change--------------------
Net Earnings Per Share (Basic)0.871.720.690.560.151.740.250.83(0.03)(1.97)
Income from continuing operations----------1.740.250.21(0.19)(1.28)
EPS (Diluted) : Income from discontinued operations--------------0.620.16(0.69)
Extraordinary item--------------------
Cumulative effect of accounting change--------------------
Net Earnings Per Share (Diluted)0.871.710.690.560.151.740.250.83(0.03)(1.97)
Weighted Average Share Outstanding (Basic)111.79111.20103.9598.9794.5093.9188.0985.1773.4569.38
Weighted Average Share Outstanding (Diluted)112.08111.62104.1399.1694.5997.6788.2685.2273.4569.38
Funds from operations (FFO)186.31234.88218.04217.45198.29268.95177.55242.31191.9672.75