Corporate Office Properties L.P. (OFC) Trailing 12-Month Cash Flow Statement

Cash Flow Summary

Corporate Office Properties, L.P. (OFC) trailing twelve month cash flow statement covering six trailing twelve month periods to December 31, 2020, as reported to the SEC.

Corporate Office Properties, L.P. generated $238.42M in cash from operations in the twelve months ended December 31, 2020, up 4.3% from $228.56M a year earlier.
That is 2.3 times its reported net income of $102.88M.
After spending $32.76M on other capital improvements on operating properties, free cash flow was $205.67M.
Investing activities used $325.79M and financing activities provided $91.27M. Overall, cash went up $3.9M.
Corporate Office Properties, L.P. paid $123.37M in dividends.

A cash flow statement shows the cash that actually came in and went out, split between running the business, investing and financing.

Figures in USD thousands

						Dec'20	Sep'20	Jun'20	Mar'20	Dec'19	Sep'19
Cash flows from operating activities
Revenues from real estate operations received
542,727	532,616	538,281	536,803	530,280	524,652	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Revenues from real estate operations received						542,727	532,616	538,281	536,803	530,280	524,652	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Construction contract and other service revenues received
78,470	82,775	115,377	113,698	94,677	71,942	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Construction contract and other service revenues received						78,470	82,775	115,377	113,698	94,677	71,942	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Property operating expenses paid
202,660	204,140	200,240	199,967	196,611	199,086	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Property operating expenses paid						202,660	204,140	200,240	199,967	196,611	199,086	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Construction contract and other service expenses paid
67,760	73,876	97,739	109,806	96,789	76,951	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Construction contract and other service expenses paid						67,760	73,876	97,739	109,806	96,789	76,951	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
General, administrative, leasing, business development and land carry costs paid
31,406	29,949	29,775	30,015	29,347	29,954	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
General, administrative, leasing, business development and land carry costs paid						31,406	29,949	29,775	30,015	29,347	29,954	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense paid
61,471	64,350	64,160	65,960	67,475	69,667	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense paid						61,471	64,350	64,160	65,960	67,475	69,667	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Lease incentives paid
11,925	15,750	11,865	11,952	9,482	8,060	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Lease incentives paid						11,925	15,750	11,865	11,952	9,482	8,060	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other
3,200	3,236	3,401	3,323	3,305	2,997	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other						3,200	3,236	3,401	3,323	3,305	2,997	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net cash provided by operating activities
238,424	230,562	253,280	236,124	228,558	215,852	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net cash provided by operating activities						238,424	230,562	253,280	236,124	228,558	215,852	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cash flows from investing activities
Development and redevelopment of properties
344,401	369,863	360,168	387,034	394,444	363,139	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Development and redevelopment of properties						344,401	369,863	360,168	387,034	394,444	363,139	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Tenant improvements on operating properties
28,754	30,720	32,713	30,081	23,809	23,602	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Tenant improvements on operating properties						28,754	30,720	32,713	30,081	23,809	23,602	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other capital improvements on operating properties
32,756	34,959	27,315	25,640	24,659	25,363	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other capital improvements on operating properties						32,756	34,959	27,315	25,640	24,659	25,363	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Investing receivables funded
272	269	76	129	11,180	11,266	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Investing receivables funded						272	269	76	129	11,180	11,266	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Leasing costs paid
16,938	15,778	17,617	20,236	16,825	18,151	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Leasing costs paid						16,938	15,778	17,617	20,236	16,825	18,151	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other
4,242	772	8,537	256	-849	6,712	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other						4,242	772	8,537	256	-849	6,712	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net cash used in investing activities
-325,792	-425,311	-351,673	-131,323	-138,015	-189,145	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net cash used in investing activities						-325,792	-425,311	-351,673	-131,323	-138,015	-189,145	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cash flows from financing activities
Proceeds from debt
Revolving Credit Facility
664,000	469,000	402,000	537,000	409,000	522,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Revolving Credit Facility						664,000	469,000	402,000	537,000	409,000	522,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other debt proceeds
206,931	210,701	222,368	221,860	43,615	34,141	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other debt proceeds						206,931	210,701	222,368	221,860	43,615	34,141	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Repayments of debt
Revolving Credit Facility
698,000	632,000	396,000	557,000	445,000	401,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Revolving Credit Facility						698,000	632,000	396,000	557,000	445,000	401,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Scheduled principal amortization
4,125	4,087	4,161	4,233	4,310	4,379	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Scheduled principal amortization						4,125	4,087	4,161	4,233	4,310	4,379	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Deferred financing costs paid
2,400	2,204	1,709	1,709	448	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Deferred financing costs paid						2,400	2,204	1,709	1,709	448	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Payments on finance lease liabilities
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Payments on finance lease liabilities						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net proceeds from issuance of common shares
-	-	-	-	46,415	86,250	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net proceeds from issuance of common shares						-	-	-	-	46,415	86,250	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Common share/unit dividends/distributions paid
123,367	123,334	123,284	123,187	122,657	121,772	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Common share/unit dividends/distributions paid						123,367	123,334	123,284	123,187	122,657	121,772	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Distributions paid to noncontrolling interests in COPLP
1,825	1,808	1,914	2,016	2,166	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Distributions paid to noncontrolling interests in COPLP						1,825	1,808	1,914	2,016	2,166	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Distributions paid to redeemable noncontrolling interests
14,357	14,190	13,634	13,529	1,659	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Distributions paid to redeemable noncontrolling interests						14,357	14,190	13,634	13,529	1,659	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Redemption of vested equity awards
-	-	-	1,739	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Redemption of vested equity awards						-	-	-	1,739	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other
-2,106	539	-4,299	-5,010	-963	-1,278	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other						-2,106	539	-4,299	-5,010	-963	-1,278	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net cash provided by (used in) financing activities
91,271	171,917	73,525	46,311	-84,363	-2,132	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net cash provided by (used in) financing activities						91,271	171,917	73,525	46,311	-84,363	-2,132	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net increase (decrease) in cash and cash equivalents and restricted cash
3,903	-22,832	-24,868	151,112	6,180	24,575	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net increase (decrease) in cash and cash equivalents and restricted cash						3,903	-22,832	-24,868	151,112	6,180	24,575	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Reconciliation of net income to net cash provided by operating activities:
Net income
102,878	64,206	118,794	203,236	200,004	173,583	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income						102,878	64,206	118,794	203,236	200,004	173,583	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and other amortization
140,031	136,081	135,451	136,689	138,903	142,309	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Depreciation and other amortization						140,031	136,081	135,451	136,689	138,903	142,309	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Amortization of deferred financing costs and net debt discounts
4,272	4,027	3,831	3,702	3,639	3,631	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Amortization of deferred financing costs and net debt discounts						4,272	4,027	3,831	3,702	3,639	3,631	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Increase in deferred rent receivable
2,168	3,467	2,742	3,782	4,091	5,118	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Increase in deferred rent receivable						2,168	3,467	2,742	3,782	4,091	5,118	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gain on sales of real estate
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gain on sales of real estate						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Share-based compensation
6,503	6,488	6,458	6,444	6,714	6,620	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Share-based compensation						6,503	6,488	6,458	6,444	6,714	6,620	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other
7,855	5,910	4,289	4,502	6,022	5,318	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other						7,855	5,910	4,289	4,502	6,022	5,318	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable
6,377	-1,598	-29,744	3,627	7,141	16,214	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
(Increase) decrease in accounts receivable						6,377	-1,598	-29,744	3,627	7,141	16,214	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Increase in prepaid expenses and other assets, net
7,626	8,743	-1,597	157	22,457	24,055	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Increase in prepaid expenses and other assets, net						7,626	8,743	-1,597	157	22,457	24,055	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Increase (decrease) in accounts payable, accrued expenses and other liabilities
6,554	-3,218	-18,109	-4,666	20,369	19,086	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Increase (decrease) in accounts payable, accrued expenses and other liabilities						6,554	-3,218	-18,109	-4,666	20,369	19,086	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
(Decrease) increase in rents received in advance and security deposits
-195	2,301	2,982	7,688	3,541	5,212	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
(Decrease) increase in rents received in advance and security deposits						-195	2,301	2,982	7,688	3,541	5,212	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net cash provided by operating activities
238,424	230,562	253,280	236,124	228,558	215,852	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net cash provided by operating activities						238,424	230,562	253,280	236,124	228,558	215,852	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Supplemental schedule of non-cash investing and financing activities:
(Decrease) increase in accrued capital improvements, leasing and other investing activity costs
-9,421	6,261	18,991	19,789	35,913	32,477	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
(Decrease) increase in accrued capital improvements, leasing and other investing activity costs						-9,421	6,261	18,991	19,789	35,913	32,477	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Finance right-of-use asset contributed by noncontrolling interest in joint venture
-	-	-	-	2,570	2,570	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Finance right-of-use asset contributed by noncontrolling interest in joint venture						-	-	-	-	2,570	2,570	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Recognition of operating right-of-use assets and related lease liabilities
13,340	9,540	3,966	564	840	255	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Recognition of operating right-of-use assets and related lease liabilities						13,340	9,540	3,966	564	840	255	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Non-cash changes from property dispositions:
Non-cash changes from recognition of property sale previously accounted for as financing arrangement:
(Decrease) increase in fair value of derivatives applied to accumulated other comprehensive income and noncontrolling interests
-35,728	-28,049	-42,185	-53,940	-25,817	-39,838	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
(Decrease) increase in fair value of derivatives applied to accumulated other comprehensive income and noncontrolling interests						-35,728	-28,049	-42,185	-53,940	-25,817	-39,838	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Decrease in noncontrolling interests and increase in shareholders’ equity in connection with the conversion of common units into common shares
211	212	1,688	1,688	1,586	1,687	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Decrease in noncontrolling interests and increase in shareholders’ equity in connection with the conversion of common units into common shares						211	212	1,688	1,688	1,586	1,687	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Adjustments to noncontrolling interests resulting from changes in COPLP ownership
-767	-882	-642	-702	167	919	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Adjustments to noncontrolling interests resulting from changes in COPLP ownership						-767	-882	-642	-702	167	919	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Increase in redeemable noncontrolling interests and decrease in equity to carry redeemable noncontrolling interests at fair value
6,607	5,116	3,211	5,051	1,749	1,850	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Increase in redeemable noncontrolling interests and decrease in equity to carry redeemable noncontrolling interests at fair value						6,607	5,116	3,211	5,051	1,749	1,850	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Corporate Office Properties, L.P
Revenues from real estate operations received
542,727	532,616	538,281	536,803	530,280	524,652	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Revenues from real estate operations received						542,727	532,616	538,281	536,803	530,280	524,652	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Construction contract and other service revenues received
78,470	82,775	115,377	113,698	94,677	71,942	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Construction contract and other service revenues received						78,470	82,775	115,377	113,698	94,677	71,942	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Property operating expenses paid
202,660	204,140	200,240	199,967	196,611	199,086	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Property operating expenses paid						202,660	204,140	200,240	199,967	196,611	199,086	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Construction contract and other service expenses paid
67,760	73,876	97,739	109,806	96,789	76,951	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Construction contract and other service expenses paid						67,760	73,876	97,739	109,806	96,789	76,951	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
General, administrative, leasing, business development and land carry costs paid
31,406	29,949	29,775	30,015	29,347	29,954	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
General, administrative, leasing, business development and land carry costs paid						31,406	29,949	29,775	30,015	29,347	29,954	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense paid
61,471	64,350	64,160	65,960	67,475	69,667	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense paid						61,471	64,350	64,160	65,960	67,475	69,667	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Lease incentives paid
11,925	15,750	11,865	11,952	9,482	8,060	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Lease incentives paid						11,925	15,750	11,865	11,952	9,482	8,060	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other
3,200	3,236	3,401	3,323	3,305	2,997	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other						3,200	3,236	3,401	3,323	3,305	2,997	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net cash provided by operating activities
238,424	230,562	253,280	236,124	228,558	215,852	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net cash provided by operating activities						238,424	230,562	253,280	236,124	228,558	215,852	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Development and redevelopment of properties
344,401	369,863	360,168	387,034	394,444	363,139	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Development and redevelopment of properties						344,401	369,863	360,168	387,034	394,444	363,139	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Tenant improvements on operating properties
28,754	30,720	32,713	30,081	23,809	23,602	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Tenant improvements on operating properties						28,754	30,720	32,713	30,081	23,809	23,602	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other capital improvements on operating properties
32,756	34,959	27,315	25,640	24,659	25,363	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other capital improvements on operating properties						32,756	34,959	27,315	25,640	24,659	25,363	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Investing receivables funded
272	269	76	129	11,180	11,266	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Investing receivables funded						272	269	76	129	11,180	11,266	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Leasing costs paid
16,938	15,778	17,617	20,236	16,825	18,151	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Leasing costs paid						16,938	15,778	17,617	20,236	16,825	18,151	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other
4,242	772	8,537	256	-849	6,712	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other						4,242	772	8,537	256	-849	6,712	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net cash used in investing activities
-325,792	-425,311	-351,673	-131,323	-138,015	-189,145	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net cash used in investing activities						-325,792	-425,311	-351,673	-131,323	-138,015	-189,145	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Revolving Credit Facility
664,000	469,000	402,000	537,000	409,000	522,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Revolving Credit Facility						664,000	469,000	402,000	537,000	409,000	522,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other debt proceeds
206,931	210,701	222,368	221,860	43,615	34,141	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other debt proceeds						206,931	210,701	222,368	221,860	43,615	34,141	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Revolving Credit Facility
698,000	632,000	396,000	557,000	445,000	401,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Revolving Credit Facility						698,000	632,000	396,000	557,000	445,000	401,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Scheduled principal amortization
4,125	4,087	4,161	4,233	4,310	4,379	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Scheduled principal amortization						4,125	4,087	4,161	4,233	4,310	4,379	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Deferred financing costs paid
2,400	2,204	1,709	1,709	448	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Deferred financing costs paid						2,400	2,204	1,709	1,709	448	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Payments on finance lease liabilities
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Payments on finance lease liabilities						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net proceeds from issuance of common shares
-	-	-	-	46,415	86,250	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net proceeds from issuance of common shares						-	-	-	-	46,415	86,250	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Common share/unit dividends/distributions paid
124,815	124,754	124,722	124,639	124,171	123,303	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Common share/unit dividends/distributions paid						124,815	124,754	124,722	124,639	124,171	123,303	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Preferred share/unit dividends/distributions paid
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Preferred share/unit dividends/distributions paid						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Distributions paid to redeemable noncontrolling interests
14,357	14,190	13,634	13,529	1,659	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Distributions paid to redeemable noncontrolling interests						14,357	14,190	13,634	13,529	1,659	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other
-2,483	151	-4,775	-5,574	-1,615	-1,938	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other						-2,483	151	-4,775	-5,574	-1,615	-1,938	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net cash provided by (used in) financing activities
91,271	171,917	73,525	46,311	-84,363	-2,132	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net cash provided by (used in) financing activities						91,271	171,917	73,525	46,311	-84,363	-2,132	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net increase (decrease) in cash and cash equivalents and restricted cash
3,903	-22,832	-24,868	151,112	6,180	24,575	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net increase (decrease) in cash and cash equivalents and restricted cash						3,903	-22,832	-24,868	151,112	6,180	24,575	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income
102,878	64,206	118,794	203,236	200,004	173,583	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income						102,878	64,206	118,794	203,236	200,004	173,583	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Depreciation and other amortization
140,031	136,081	135,451	136,689	138,903	142,309	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Depreciation and other amortization						140,031	136,081	135,451	136,689	138,903	142,309	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Amortization of deferred financing costs and net debt discounts
4,272	4,027	3,831	3,702	3,639	3,631	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Amortization of deferred financing costs and net debt discounts						4,272	4,027	3,831	3,702	3,639	3,631	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Increase in deferred rent receivable
2,168	3,467	2,742	3,782	4,091	5,118	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Increase in deferred rent receivable						2,168	3,467	2,742	3,782	4,091	5,118	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gain on sales of real estate
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gain on sales of real estate						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Share-based compensation
6,503	6,488	6,458	6,444	6,714	6,620	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Share-based compensation						6,503	6,488	6,458	6,444	6,714	6,620	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other
7,855	5,910	4,289	4,502	6,022	5,318	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other						7,855	5,910	4,289	4,502	6,022	5,318	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
(Increase) decrease in accounts receivable
6,377	-1,598	-29,744	3,627	7,141	16,214	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
(Increase) decrease in accounts receivable						6,377	-1,598	-29,744	3,627	7,141	16,214	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Increase in prepaid expenses and other assets, net
7,659	10,318	98	2,081	23,255	24,144	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Increase in prepaid expenses and other assets, net						7,659	10,318	98	2,081	23,255	24,144	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Increase (decrease) in accounts payable, accrued expenses and other liabilities
6,587	-1,643	-16,414	-2,742	21,167	19,175	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Increase (decrease) in accounts payable, accrued expenses and other liabilities						6,587	-1,643	-16,414	-2,742	21,167	19,175	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
(Decrease) increase in rents received in advance and security deposits
-195	2,301	2,982	7,688	3,541	5,212	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
(Decrease) increase in rents received in advance and security deposits						-195	2,301	2,982	7,688	3,541	5,212	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net cash provided by operating activities
238,424	230,562	253,280	236,124	228,558	215,852	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net cash provided by operating activities						238,424	230,562	253,280	236,124	228,558	215,852	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
(Decrease) increase in accrued capital improvements, leasing and other investing activity costs
-9,421	6,261	18,991	19,789	35,913	32,477	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
(Decrease) increase in accrued capital improvements, leasing and other investing activity costs						-9,421	6,261	18,991	19,789	35,913	32,477	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Finance right-of-use asset contributed by noncontrolling interest in joint venture
-	-	-	-	2,570	2,570	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Finance right-of-use asset contributed by noncontrolling interest in joint venture						-	-	-	-	2,570	2,570	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Recognition of operating right-of-use assets and related lease liabilities
13,340	9,540	3,966	564	840	255	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Recognition of operating right-of-use assets and related lease liabilities						13,340	9,540	3,966	564	840	255	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
(Decrease) increase in fair value of derivatives applied to accumulated other comprehensive income and noncontrolling interests
-35,728	-28,049	-42,185	-53,940	-25,817	-39,838	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
(Decrease) increase in fair value of derivatives applied to accumulated other comprehensive income and noncontrolling interests						-35,728	-28,049	-42,185	-53,940	-25,817	-39,838	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Increase in redeemable noncontrolling interests and decrease in equity to carry redeemable noncontrolling interests at fair value
6,607	5,116	3,211	5,051	1,749	1,850	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Increase in redeemable noncontrolling interests and decrease in equity to carry redeemable noncontrolling interests at fair value						6,607	5,116	3,211	5,051	1,749	1,850	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Corporate Office Properties, L.P.
Redemption of vested equity awards
-	-	-	1,739	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Redemption of vested equity awards						-	-	-	1,739	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx