Corporate Office Properties Trust OFC Balance Sheet

Corporate office properties trust (OFC)

Balance Sheet / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Dec'09
Assets
Properties, net:
Rental Properties
2,813	2,772	2,713	2,719	2,865	2,847	2,796	2,760	2,740	2,737	2,690	2,688	2,670	2,671	2,632	2,782	2,863	2,920	2,932	2,896	2,888	2,751	2,757	2,724	2,729	2,702	2,713	2,703	2,705	2,597	2,487	2,629	2,704	2,714	2,772	2,741	2,819	2,802	2,762	2,558	2,510
Projects in development or held for future development
605	568	544	474	437	403	410	422	418	403	406	446	422	401	396	387	416	429	414	521	489	545	513	530	495	511	526	508	484	565	614	603	633	638	696	656	649	642	586	553	501
Properties held for sale, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	75	-	-	-	18	18
Total properties, net
3,419	3,340	3,258	3,194	3,303	3,250	3,207	3,183	3,158	3,141	3,097	3,134	3,093	3,073	3,028	3,169	3,279	3,349	3,347	3,418	3,378	3,296	3,271	3,254	3,224	3,214	3,239	3,211	3,189	3,163	3,102	3,232	3,338	3,352	3,469	3,472	3,468	3,445	3,349	3,130	3,029
Property - operating right-of-use assets
27	27	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property - finance right-of-use assets
40	40	41	41	41	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Disposal Group, Including Discontinued Operation, Assets
-	-	61	54	-	-	42	42	42	42	74	51	41	94	161	300	225	96	150	77	0	14	-	22	-	0	133	136	142	140	137	144	81	116	72	-	-	-	-	-	-
Cash and cash equivalents
159	14	34	46	7	8	9	8	8	12	10	10	226	209	47	13	62	60	3	37	4	6	40	76	18	54	27	9	23	10	5	4	7	5	11	11	12	10	11	9	8
Restricted cash and marketable securities
-	-	-	-	-	-	-	-	-	-	6	6	6	8	7	8	7	7	9	10	11	9	14	11	10	11	14	19	17	21	20	22	21	36	39	22	24	22	21	20	16
Investment in unconsolidated real estate joint ventures
51	51	49	65	39	39	40	40	41	41	25	25	25	25	25	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts receivable, net
30	35	37	58	25	26	19	23	23	31	27	42	29	34	25	32	28	29	19	16	33	30	20	30	30	27	17	23	10	16	15	10	11	26	20	13	19	18	18	12	17
Deferred rent receivable
89	87	88	86	91	89	89	89	87	86	84	89	89	90	87	92	96	105	103	101	98	95	95	93	91	89	90	89	88	85	83	85	89	86	87	85	82	79	76	75	71
Intangible assets on real estate acquisitions, net
26	27	29	31	33	43	47	50	54	59	64	69	73	78	84	88	93	98	106	81	61	43	48	51	55	59	64	68	72	75	81	76	83	89	97	99	106	113	123	96	100
Deferred leasing costs (net of accumulated amortization of $34,613 and $33,782, respectively)
58	58	55	52	51	50	49	48	47	48	47	40	40	41	41	42	44	53	64	67	65	53	65	65	65	66	63	57	59	59	58	63	66	66	70	60	60	60	56	55	51
Investing receivables (net of allowance for credit losses of $3,598 at March 31, 2020)
-	-	72	70	69	56	55	54	58	57	56	54	53	52	51	50	48	47	46	45	52	52	50	56	55	53	40	-	-	35	-	-	-	-	-	-	-	-	-	-	-
Interest rate derivatives
-	-	-	-	2	-	10	-	-	3	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Prepaid expenses and other assets, net
80	96	100	76	84	91	79	70	72	71	66	49	59	72	73	43	49	60	66	55	71	61	74	46	53	54	64	83	80	44	92	73	96	83	95	101	90	93	79	65	83
Assets
4,054	3,854	3,855	3,803	3,775	3,656	3,650	3,612	3,596	3,595	3,559	3,574	3,739	3,780	3,634	3,841	3,937	3,909	3,918	3,910	3,777	3,664	3,680	3,709	3,605	3,629	3,755	3,699	3,685	3,653	3,597	3,715	3,797	3,863	3,965	3,868	3,865	3,844	3,737	3,467	3,380
Liabilities and equity
Liabilities:
Long-term Debt
2,076	1,831	1,862	1,784	1,876	1,823	1,808	1,871	1,854	1,828	1,873	1,897	1,903	1,904	1,873	2,094	2,140	2,077	2,121	2,130	1,999	1,914	2,049	2,099	1,931	1,927	2,135	2,093	1,957	2,019	2,169	2,191	2,418	2,426	2,420	2,299	2,396	2,323	2,468	2,182	2,053
Accounts payable and accrued expenses
128	148	141	152	112	92	90	88	95	108	121	95	83	108	112	92	78	91	98	155	138	123	123	105	97	98	85	84	90	97	87	84	93	95	114	115	103	99	88	84	116
Rents received in advance and security deposits
33	33	27	27	25	30	23	24	26	25	26	25	28	29	28	32	33	37	34	27	31	31	33	27	28	31	28	24	26	27	26	27	27	29	28	26	29	31	26	28	32
Dividends and distributions payable
31	31	31	31	31	30	30	29	29	28	28	28	31	31	30	30	30	30	30	30	30	29	28	28	29	29	29	28	29	28	26	24	24	35	35	35	33	32	29	28	28
Deferred revenue associated with operating leases
6	7	7	8	8	9	10	10	11	11	12	13	11	12	9	17	19	19	20	15	14	13	13	12	12	10	8	9	10	11	13	13	15	15	15	12	13	14	15	12	14
Property - operating lease liabilities
17	17	16	16	16	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions received in excess of investment in unconsolidated real estate joint venture
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6	6	6	6	6	6	6	6	5	5	5	5	5	5	5
Interest rate derivatives
63	25	34	23	11	5	-	-	-	-	-	-	-	-	17	20	15	3	5	3	4	1	2	3	3	3	3	3	5	6	6	4	2	30	30	10	-	4	-	-	-
Redeemable preferred units of general partner, 531,667 units outstanding at December 31, 2016
-	-	-	-	-	-	-	-	-	-	0	0	0	26	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred property sale
-	-	-	-	-	-	43	43	43	43	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capital lease obligation
-	-	-	-	-	-	0	0	11	15	16	16	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other liabilities
8	10	8	10	10	10	9	9	17	41	43	56	55	50	38	31	15	13	8	11	9	12	13	14	13	14	8	8	7	8	10	8	9	9	7	9	12	8	12	13	8
Liabilities
2,366	2,105	2,130	2,054	2,092	2,002	2,015	2,079	2,090	2,103	2,121	2,132	2,113	2,163	2,110	2,318	2,331	2,273	2,318	2,373	2,228	2,124	2,264	2,290	2,115	2,114	2,304	2,257	2,134	2,206	2,347	2,361	2,596	2,648	2,657	2,514	2,594	2,521	2,647	2,355	2,259
Commitments and contingencies (Note 17)
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0	-	-	-
Redeemable noncontrolling interests
22	29	28	29	27	26	25	24	23	23	23	23	23	22	22	22	22	19	19	19	18	18	18	18	17	17	16	15	10	10	-	-	-	8	-	-	-	-	-	-	-
Equity:
Corporate Office Properties Trust’s shareholders’ equity:
Preferred Shares of beneficial interest at liquidation preference
-	-	-	-	-	-	-	-	-	-	0	0	172	172	199	199	199	199	199	199	199	199	199	199	249	249	249	249	333	333	333	388	0	216	0	0	0	0	0	0	0
Common Shares of beneficial interest
1	1	1	1	1	1	1	1	1	1	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Additional paid-in capital
2,476	2,481	2,480	2,475	2,475	2,431	2,390	2,254	2,221	2,201	2,150	2,146	2,136	2,116	2,008	2,007	2,005	2,004	2,002	2,000	1,999	1,969	1,822	1,819	1,816	1,814	1,812	1,772	1,772	1,653	1,455	1,450	1,670	1,451	1,663	1,657	1,511	1,511	1,271	1,269	1,238
Cumulative distributions in excess of net income
790	778	790	780	856	846	833	822	813	802	800	793	774	765	759	756	679	657	686	747	733	717	692	688	665	641	700	668	632	617	610	562	549	534	416	389	331	281	265	246	209
Accumulated other comprehensive loss
-62	-25	-34	-23	-9	-0	10	9	7	2	-0	-1	-0	-1	-16	-17	-12	-2	-5	-3	-3	-1	0	-0	2	3	2	3	-4	-5	-5	-3	-2	-1	-28	-9	-3	-4	-4	-4	-1
Total Corporate Office Properties Trust’s shareholders’ equity
1,624	1,678	1,656	1,672	1,610	1,585	1,568	1,442	1,416	1,402	1,349	1,352	1,535	1,523	1,433	1,432	1,512	1,544	1,509	1,450	1,462	1,451	1,330	1,330	1,402	1,425	1,365	1,357	1,470	1,365	1,173	1,274	1,119	1,132	1,219	1,259	1,177	1,226	1,001	1,019	1,027
Noncontrolling interests in subsidiaries:
Common units in COPLP
19	19	19	21	20	19	19	44	44	45	44	46	46	49	46	47	51	52	50	48	49	51	49	50	51	53	50	49	50	52	48	52	53	55	60	66	66	69	61	63	73
Preferred units in COPLP
8	8	8	8	8	8	8	8	8	8	8	8	8	8	8	8	8	8	8	8	8	8	8	8	8	8	8	8	8	8	8	8	8	8	8	8	8	8	8	8	8
Other consolidated entities
11	11	11	16	16	13	13	12	12	12	11	11	11	13	11	11	11	10	10	9	9	9	8	10	9	9	9	11	10	10	18	18	18	9	18	18	18	18	17	19	10
Noncontrolling interests in subsidiaries
40	40	39	46	45	41	41	66	65	66	64	66	66	71	67	67	71	72	69	67	67	69	67	69	70	71	68	69	70	71	76	79	81	73	87	93	93	96	88	92	93
Total equity
1,665	1,719	1,695	1,719	1,656	1,627	1,609	1,508	1,482	1,468	1,414	1,418	1,601	1,594	1,500	1,500	1,583	1,616	1,579	1,517	1,529	1,520	1,397	1,399	1,473	1,497	1,434	1,426	1,540	1,436	1,250	1,353	1,200	1,205	1,307	1,353	1,271	1,323	1,089	1,111	1,120
Total liabilities, redeemable noncontrolling interests and equity
4,054	3,854	3,855	3,803	3,775	3,656	3,650	3,612	3,596	3,595	3,559	3,574	3,739	3,780	3,634	3,841	3,937	3,909	3,918	3,910	3,777	3,664	3,680	3,709	3,605	3,629	3,755	3,699	3,685	3,653	3,597	3,715	3,797	3,863	3,965	3,868	3,865	3,844	3,737	3,467	3,380
Corporate Office Properties, L.P.
Rental Properties
2,813	2,772	2,713	2,719	2,865	2,847	2,796	2,760	2,740	2,737	2,690	2,688	2,670	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Projects in development or held for future development
605	568	544	474	437	403	410	422	418	403	406	446	422	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total properties, net
3,419	3,340	3,258	3,194	3,303	3,250	3,207	3,183	3,158	3,141	3,097	3,134	3,093	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property - operating right-of-use assets
27	27	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property - finance right-of-use assets
40	40	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Disposal Group, Including Discontinued Operation, Assets
-	-	61	54	-	-	42	42	42	42	74	51	41	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash and cash equivalents
159	14	34	46	7	8	9	8	8	12	10	10	226	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investment in unconsolidated real estate joint ventures
51	51	49	65	39	39	40	40	41	41	25	25	25	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restricted cash and marketable securities
-	-	-	-	-	-	-	-	-	-	1	2	2	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts receivable, net
30	35	37	58	25	26	19	23	23	31	27	42	29	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred rent receivable
89	87	88	86	91	89	89	89	87	86	84	89	89	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Intangible assets on real estate acquisitions, net
26	27	29	31	33	43	47	50	54	59	64	69	73	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred leasing costs (net of accumulated amortization of $34,613 and $33,782, respectively)
58	58	55	52	51	50	49	48	47	48	47	40	40	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest rate derivatives
-	-	-	-	2	-	10	-	-	3	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Prepaid expenses and other assets, net
78	93	96	71	79	87	75	66	67	66	66	49	59	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Assets
4,052	3,851	3,851	3,799	3,771	3,652	3,646	3,608	3,591	3,590	3,555	3,570	3,735	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Long-term Debt
2,076	1,831	1,862	1,784	1,876	1,823	1,808	1,871	1,854	1,828	1,873	1,897	1,903	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable and accrued expenses
128	148	141	152	112	92	90	88	95	108	121	95	83	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Rents received in advance and security deposits
33	33	27	27	25	30	23	24	26	25	26	25	28	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends and distributions payable
31	31	31	31	31	30	30	29	29	28	28	28	31	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred revenue associated with operating leases
6	7	7	8	8	9	10	10	11	11	12	13	11	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property - operating lease liabilities
17	17	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest rate derivatives
63	25	34	23	11	5	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Redeemable preferred shares of beneficial interest at liquidation preference
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other liabilities
6	7	4	6	5	6	4	5	13	37	39	51	51	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Liabilities
2,364	2,102	2,126	2,050	2,088	1,998	2,010	2,075	2,085	2,099	2,117	2,128	2,109	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Redeemable noncontrolling interests
22	29	28	29	27	26	25	24	23	23	23	23	23	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Common Shares of beneficial interest
1,707	1,724	1,710	1,716	1,640	1,604	1,577	1,477	1,453	1,445	1,394	1,399	1,409	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accumulated other comprehensive loss
-62	-25	-34	-23	-9	-0	10	9	7	2	-0	-1	-0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total Corporate Office Properties Trust’s shareholders’ equity
1,653	1,707	1,684	1,702	1,639	1,613	1,596	1,495	1,469	1,455	1,402	1,407	1,590	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Noncontrolling interests in subsidiaries
11	11	11	17	16	13	13	12	12	12	12	11	11	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total equity
1,665	1,719	1,695	1,719	1,656	1,627	1,609	1,508	1,482	1,468	1,414	1,418	1,601	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total liabilities, redeemable noncontrolling interests and equity
4,052	3,851	3,851	3,799	3,771	3,652	3,646	3,608	3,591	3,590	3,555	3,570	3,735	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property
Property - operating right-of-use assets
-	-	27	27	27	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property - finance right-of-use assets
-	-	40	40	40	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property - operating lease liabilities
-	-	16	16	16	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investing Receivables
Investing receivables (net of allowance for credit losses of $3,598 at March 31, 2020)
71	73	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Corporate Office Properties, L.P
Investing receivables
-	-	72	70	69	56	55	54	58	57	56	54	53	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Corporate Office Properties, L.P. [Member]
Deferred property sale
-	-	-	-	-	-	43	43	43	43	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capital lease obligation
-	-	-	-	-	-	0	0	11	15	16	16	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-