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CORP OFFICE PTY   FYE=12 (December)

Annual - Income Statement - Company Specific

Fiscal period2021202020192018201720162015201420132012
Period End Date12/31/202112/31/202012/31/201912/31/201812/31/201712/31/201612/31/201512/31/201412/31/201312/31/2012
Rental Revenue----------417.71420.34386.40377.61353.08
Tenant recoveries and other real estate operations revenue----------108.2598.7293.3383.3981.22
Lease revenue553.67509.11493.17512.33504.89----------
Construction contract and other service revenues107.8870.64113.7660.86102.8448.36106.40106.7562.3673.84
Other service operations revenues2.902.604.894.935.09----------
Total Revenues664.45582.35611.82578.11612.82574.33625.47586.47523.36508.14
Property operating expenses213.38190.80185.45201.04190.96197.53194.49179.93167.20159.21
Construction contract expenses--------------------
Other service operations expenses--------------------
Construction contract and other service expenses104.0567.62109.9658.3399.6245.48102.70100.0658.8870.58
Depreciation and other amortization associated with real estate operations137.54126.50125.01137.12134.23132.72140.03136.09113.21108.00
General and administrative expenses36.1333.0035.4028.9030.8436.5531.3631.7930.8731.90
Impairment loss--(1.53)(0.33)(2.37)(15.12)(101.39)(23.29)(1.42)(5.86)(43.68)
Business development expenses(4.65)(4.47)(4.24)(5.84)(6.21)(8.24)(13.51)(5.57)(5.44)(5.71)
Total operating expenses495.75423.92460.39433.58476.98521.92505.37454.86381.45419.07
Operating Income (Loss)------------120.09131.61141.9189.07
Interest expense65.4067.9471.0575.3976.9883.1689.0792.3982.0186.40
Gain on sale of non-real estate investment--29.42----------------
(Loss) gain on sales of real estate65.5930.21105.232.349.8959.68--------
Equity in loss of unconsolidated Service Companies------------------(0.55)
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 income7.888.577.894.366.325.444.524.923.837.17
Amortization of deferred financing costs--------------------
Gain on early extinguishment of debt(100.63)(7.31)--(0.26)(0.51)(1.11)85.28(9.55)(27.03)(0.94)
Loss on interest rate derivatives--(53.20)----------------
Credit loss expense1.130.93----------------
Income from continuing operations before income taxes and minority interests------75.5874.5533.26120.8134.5936.708.35
Income tax expense0.150.35(0.22)(0.36)1.100.240.200.311.980.38
Deferred Tax : Federal------------------0.31
Deferred Tax : State------------------0.07
Current Tax : Federal--------------------
Current Tax : State--------------------
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 entities1.091.831.632.701.490.750.060.232.11--
Gain (loss) on sales of real estate--------------------
Income from continuing operations78.22100.60195.35------120.6834.5136.847.97
Income from discontinued operations, net of minority interests3.362.284.65------0.160.0355.6912.35
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------------68.0510.679.020.02
Cumulative effect of accounting change, net of minority interests--------------------
Net income (loss)81.58102.88200.0078.6474.9433.77188.8845.21101.5420.34
Net income attributable to noncontrolling interests : Common units in the Operating Partnership1.011.182.361.741.890.516.401.013.28(0.09)
Net income attributable to noncontrolling interests : Preferred units in the Operating Partnership--0.300.560.660.660.660.660.660.660.66
Net income attributable to noncontrolling interests : Other4.034.025.393.943.653.713.523.293.89(1.21)
Net income (loss) attributable to Corporate Office Properties Trust--------68.7528.89178.3040.2693.71--
Preferred Share dividends--------6.2214.3014.2115.9419.9720.84
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 shareholders76.5497.37191.6972.3055.6814.58164.0922.5570.83(1.69)
Income from continuing operations0.650.851.68------1.740.250.21(0.19)
EPS (Basic) : Income from discontinued operations0.030.020.04----------0.620.16
Extraordinary item--------------------
Cumulative effect of accounting change--------------------
Net Earnings Per Share (Basic)0.680.871.720.690.560.151.740.250.83(0.03)
Income from continuing operations0.650.851.67------1.740.250.21(0.19)
EPS (Diluted) : Income from discontinued operations0.030.020.04----------0.620.16
Extraordinary item--------------------
Cumulative effect of accounting change--------------------
Net Earnings Per Share (Diluted)0.680.871.710.690.560.151.740.250.83(0.03)
Weighted Average Share Outstanding (Basic)111.96111.79111.20103.9598.9794.5093.9188.0985.1773.45
Weighted Average Share Outstanding (Diluted)112.42112.08111.62104.1399.1694.5997.6788.2685.2273.45
Funds from operations (FFO)159.56169.73228.51214.30199.24178.60249.45155.30242.31191.96