Corporate Office Properties Trust OFC Income Statement

Corporate office properties trust (OFC)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08
Revenues
Lease revenue
522,472	512,327	504,889	417,711	420,340	386,396	377,611	353,080	332,856	316,038	328,409	334,234
Construction contract and other service revenues
113,763	60,859	102,840	48,364	106,402	106,748	62,363	73,836	84,345	104,675	343,087	188,385
Tenant recoveries and other real estate operations revenue
-	-	-	-	98,724	93,329	83,386	81,219	75,755	71,521	66,132	62,526
Total revenues
641,226	578,112	612,820	574,328	625,466	586,473	523,360	508,135	492,956	492,234	737,628	585,145
Operating expenses
Property operating expenses
198,143	201,035	190,964	197,530	194,494	179,934	167,199	159,206	154,375	146,617	145,973	140,895
Depreciation and amortization associated with real estate operations
137,069	137,116	134,228	132,719	140,025	136,086	113,214	107,998	107,003	97,897	97,869	101,854
Construction contract and other service expenses
109,962	58,326	99,618	45,481	102,696	100,058	58,875	70,576	81,639	102,302	336,519	184,142
Impairment losses
329	2,367	15,123	101,391	23,289	1,416	5,857	43,678	83,213	0	-	-
General, administrative and leasing expenses
35,402	28,900	30,837	36,553	31,361	31,794	30,869	31,900	30,306	28,501	23,240	24,096
Business development expenses and land carry costs
4,239	5,840	6,213	8,244	13,507	5,573	5,436	5,711	6,122	6,403	3,699	1,233
Total operating expenses
485,144	433,584	476,983	521,918	505,372	454,861	381,450	419,069	462,658	381,720	607,300	452,220
Operating income
-	-	-	-	120,094	131,612	141,910	89,066	30,298	110,514	130,328	132,925
Interest expense
71,052	75,385	76,983	83,163	89,074	92,393	82,010	86,401	90,037	95,729	79,789	86,368
Interest and other income
7,894	4,358	6,318	5,444	4,517	4,923	3,834	7,172	5,603	9,568	5,164	2,070
Gain on sales of real estate
105,230	2,340	9,890	59,679	68,047	10,671	9,016	21	2,732	2,829	-	1,104
Income (loss) from continuing operations
-	-	-	-	120,675	34,509	36,836	7,967	-79,201	25,621	54,566	56,380
Discontinued operations
-	-	-	-	156	26	55,692	12,353	-51,107	17,054	6,733	3,832
Income before gain on sales of real estate
-	-	-	-	120,831	34,535	92,528	20,320	-130,308	42,675	61,299	60,212
Loss on early extinguishment of debt
0	-258	-513	-1,110	85,275	-9,552	-27,030	-943	-1,639	0	-	8,101
Loss on interest rate derivatives
-	-	-	-	-	-	-	-	-29,805	0	-	-
Income before equity in income of unconsolidated entities and income taxes
198,154	75,583	74,549	33,260	120,812	34,590	36,704	8,894	-85,580	24,353	55,703	56,728
Equity in income of unconsolidated entities
1,633	2,697	1,490	752	62	229	2,110	-546	-331	1,376	-941	-147
Income tax expense
-217	-363	1,098	244	199	310	1,978	381	-6,710	108	196	201
Net income
200,004	78,643	74,941	33,768	188,878	45,206	101,544	20,341	-127,576	45,504	61,299	61,316
Net income attributable to noncontrolling interests:
Common units in COPLP
2,363	1,742	1,890	507	6,403	1,006	3,283	-87	-8,439	2,116	4,495	6,519
Preferred units in COPLP
564	660	660	660	660	660	660	660	660	660	660	660
Other consolidated entities
5,385	3,940	3,646	3,711	3,515	3,285	3,894	-1,209	-369	-32	-185	172
Net income attributable to COPLP
191,692	72,301	68,745	28,890	178,300	40,255	93,707	20,977	-119,428	42,760	56,329	53,965
Preferred unit distributions
0	0	6,219	14,297	14,210	15,939	19,971	20,844	16,102	16,102	16,102	16,102
Issuance costs associated with redeemed preferred shares
0	0	6,847	17	0	1,769	2,904	1,827	0	0	-	-
Net income attributable to COPT/COPLP common share/unitholders
191,692	72,301	55,679	14,576	164,090	22,547	70,832	-1,694	-135,530	26,658	40,227	37,863
Income from continuing operations
-	-	-	-	178,147	40,225	41,366	9,297	-71,341	27,029	50,244	50,711
Discontinued operations, net
-	-	-	-	153	30	52,341	11,680	-48,087	15,731	6,085	3,254
Net income attributable to COPT
191,692	72,301	68,745	28,890	178,300	40,255	93,707	20,977	-119,428	42,760	56,329	53,965
Earnings per common share/unit:
Income (loss) from continuing operations (in dollars per share/unit)
-	-	-	-	1.74	0.25	0.21	-0.19	-1.28	0.17	0.59	0.70
Discontinued operations (in dollars per share/unit)
-	-	-	-	-	-	0.62	0.16	-0.69	0.26	0.11	0.07
Net income attributable to COPT/COPLP common share/unitholders - basic (in dollars per share/unit)
1.72	0.69	0.56	0.15	1.74	0.25	0.83	-0.03	-1.97	0.43	0.70	0.77
Income (loss) from continuing operations (in dollars per share/unit)
-	-	-	-	1.74	0.25	0.21	-0.19	-1.28	0.17	0.59	0.69
Discontinued operations (in dollars per share/unit)
-	-	-	-	-	-	0.62	0.16	-0.69	0.26	0.11	0.07
Net income attributable to COPT/COPLP common share/unit holders - diluted (in dollars per share/unit)
1.71	0.69	0.56	0.15	1.74	0.25	0.83	-0.03	-1.97	0.43	0.70	0.76
Corporate Office Properties, L.P.
Lease revenue
522,472	512,327	504,889	417,711	-	-	-	-	-	-	-	-
Construction contract and other service revenues
113,763	60,859	102,840	48,364	-	-	-	-	-	-	-	-
Total revenues
641,226	578,112	612,820	574,328	-	-	-	-	-	-	-	-
Property operating expenses
198,143	201,035	190,964	197,530	-	-	-	-	-	-	-	-
Depreciation and amortization associated with real estate operations
137,069	137,116	134,228	132,719	-	-	-	-	-	-	-	-
General, administrative and leasing expenses
35,402	28,900	30,837	36,553	-	-	-	-	-	-	-	-
Business development expenses and land carry costs
4,239	5,840	6,213	8,244	-	-	-	-	-	-	-	-
Total operating expenses
485,144	433,584	476,983	521,918	-	-	-	-	-	-	-	-
Interest expense
71,052	75,385	76,983	83,163	-	-	-	-	-	-	-	-
Interest and other income
7,894	4,358	6,318	5,444	-	-	-	-	-	-	-	-
Gain on sales of real estate
105,230	2,340	9,890	59,679	-	-	-	-	-	-	-	-
Income before equity in income of unconsolidated entities and income taxes
198,154	75,583	74,549	33,260	-	-	-	-	-	-	-	-
Equity in income of unconsolidated entities
1,633	2,697	1,490	752	-	-	-	-	-	-	-	-
Income tax expense
-217	-363	1,098	244	-	-	-	-	-	-	-	-
Net income
200,004	78,643	74,941	33,768	-	-	-	-	-	-	-	-
Net income attributable to noncontrolling interests in consolidated entities
5,385	3,940	3,646	3,715	-	-	-	-	-	-	-	-
Net income attributable to COPLP
194,619	74,703	71,295	30,053	-	-	-	-	-	-	-	-
Preferred unit distributions
564	660	6,879	14,957	-	-	-	-	-	-	-	-
Net income attributable to COPT/COPLP common share/unitholders
194,055	74,043	57,569	15,079	-	-	-	-	-	-	-	-
Net income attributable to COPT/COPLP common share/unitholders - basic (in dollars per share/unit)
1.72	0.69	0.56	0.15	-	-	-	-	-	-	-	-
Net income attributable to COPT/COPLP common share/unit holders - diluted (in dollars per share/unit)
1.71	0.69	0.56	0.15	-	-	-	-	-	-	-	-
Tenant recoveries and other real estate operations [Member]
Total revenues
-	-	-	108,253	-	-	-	-	-	-	-	-
Other Property Revenue
Total revenues
4,991	4,926	5,091	-	-	-	-	-	-	-	-	-
Corporate Office Properties, L.P
Construction contract and other service expenses
109,962	58,326	99,618	45,481	-	-	-	-	-	-	-	-
Impairment losses
329	2,367	15,123	101,391	-	-	-	-	-	-	-	-
Loss on early extinguishment of debt
0	-258	-513	-1,110	-	-	-	-	-	-	-	-
Issuance costs associated with redeemed preferred shares
0	0	6,847	17	-	-	-	-	-	-	-	-