2016 Q2 Form 10-Q Financial Statement

#000086054616000094 Filed on August 02, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $145.9M $170.4M
YoY Change -14.34% 21.84%
Cost Of Revenue $11.48M $41.29M
YoY Change -72.2% 78.48%
Gross Profit $134.4M $129.1M
YoY Change 4.17% 10.61%
Gross Profit Margin 92.13% 75.76%
Selling, General & Admin $8.026M $7.534M
YoY Change 6.53% 0.08%
% of Gross Profit 5.97% 5.84%
Research & Development $2.400M $2.600M
YoY Change -7.69% 85.71%
% of Gross Profit 1.79% 2.01%
Depreciation & Amortization $33.80M $34.30M
YoY Change -1.46% 8.2%
% of Gross Profit 25.14% 26.57%
Operating Expenses $8.026M $7.534M
YoY Change 6.53% 0.08%
Operating Profit -$27.02M $37.47M
YoY Change -172.11% 17.7%
Interest Expense -$21.30M -$20.50M
YoY Change 3.9% -7.66%
% of Operating Profit -54.71%
Other Income/Expense, Net
YoY Change
Pretax Income -$48.33M $16.88M
YoY Change -386.29% 79.82%
Income Tax $1.000K $50.00K
% Of Pretax Income 0.3%
Net Earnings -$47.42M $15.78M
YoY Change -400.48% 100.01%
Net Earnings / Revenue -32.5% 9.26%
Basic Earnings Per Share -$0.54 $0.13
Diluted Earnings Per Share -$0.54 $0.13
COMMON SHARES
Basic Shares Outstanding 94.30M shares 94.13M shares
Diluted Shares Outstanding 94.30M shares 94.16M shares

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.30M $37.10M
YoY Change -64.15% -51.31%
Cash & Equivalents $13.32M $37.07M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $300.6M $77.00M
Prepaid Expenses
Receivables $32.50M $16.20M
Other Receivables $0.00 $0.00
Total Short-Term Assets $346.4M $130.3M
YoY Change 165.85% 0.23%
LONG-TERM ASSETS
Property, Plant & Equipment $5.686M $6.340M
YoY Change -10.32% -8.37%
Goodwill
YoY Change
Intangibles $88.79M $81.73M
YoY Change 8.64% 58.25%
Long-Term Investments $1.616M
YoY Change -27.17%
Other Assets $69.30M $90.70M
YoY Change -23.59% 1.34%
Total Long-Term Assets $3.495B $3.774B
YoY Change -7.38% 5.43%
TOTAL ASSETS
Total Short-Term Assets $346.4M $130.3M
Total Long-Term Assets $3.495B $3.774B
Total Assets $3.842B $3.904B
YoY Change -1.6% 5.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $92.80M $156.0M
YoY Change -40.51% 48.29%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $155.1M $213.5M
YoY Change -27.35% 32.53%
LONG-TERM LIABILITIES
Long-Term Debt $2.095B $2.130B
YoY Change -1.68% 1.47%
Other Long-Term Liabilities $68.90M $30.20M
YoY Change 128.15% -0.66%
Total Long-Term Liabilities $2.163B $2.160B
YoY Change 0.14% 1.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $155.1M $213.5M
Total Long-Term Liabilities $2.163B $2.160B
Total Liabilities $2.319B $2.374B
YoY Change -2.33% 3.63%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $947.0K $946.0K
YoY Change 0.11% 7.87%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.433B $1.450B
YoY Change
Total Liabilities & Shareholders Equity $3.842B $3.911B
YoY Change -1.77% 5.43%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income -$47.42M $15.78M
YoY Change -400.48% 100.01%
Depreciation, Depletion And Amortization $33.80M $34.30M
YoY Change -1.46% 8.2%
Cash From Operating Activities $77.00M $80.90M
YoY Change -4.82% 57.09%
INVESTING ACTIVITIES
Capital Expenditures -$45.20M -$145.4M
YoY Change -68.91% 89.57%
Acquisitions
YoY Change
Other Investing Activities -$3.000M $2.800M
YoY Change -207.14% -212.0%
Cash From Investing Activities -$48.10M -$142.6M
YoY Change -66.27% 80.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -78.00M 94.40M
YoY Change -182.63% 10.28%
NET CHANGE
Cash From Operating Activities 77.00M 80.90M
Cash From Investing Activities -48.10M -142.6M
Cash From Financing Activities -78.00M 94.40M
Net Change In Cash -49.10M 32.70M
YoY Change -250.15% -43.62%
FREE CASH FLOW
Cash From Operating Activities $77.00M $80.90M
Capital Expenditures -$45.20M -$145.4M
Free Cash Flow $122.2M $226.3M
YoY Change -46.0% 76.52%

Facts In Submission

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CY2015Q4 us-gaap Common Stock Shares Outstanding
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CY2016Q2 us-gaap Common Stock Shares Outstanding
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94699359 shares
CY2015Q4 us-gaap Common Stock Value
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CY2016Q2 us-gaap Common Stock Value
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CY2015Q2 us-gaap Comprehensive Income Net Of Tax
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16587000 USD
us-gaap Comprehensive Income Net Of Tax
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27292000 USD
CY2016Q2 us-gaap Comprehensive Income Net Of Tax
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us-gaap Comprehensive Income Net Of Tax
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CY2015Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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1542000 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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2871000 USD
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us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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18129000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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30163000 USD
us-gaap Minority Interest Change In Redemption Value
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739000 USD
CY2016Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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-53354000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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-55672000 USD
CY2015Q2 us-gaap Contracts Revenue
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42172000 USD
us-gaap Contracts Revenue
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80496000 USD
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12003000 USD
us-gaap Contracts Revenue
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23223000 USD
us-gaap Contribution Of Property
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0 USD
us-gaap Contribution Of Property
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22600000 USD
CY2015Q2 us-gaap Cost Of Services
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41293000 USD
us-gaap Cost Of Services
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78791000 USD
CY2016Q2 us-gaap Cost Of Services
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11478000 USD
us-gaap Cost Of Services
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22172000 USD
CY2015Q2 us-gaap Costs And Expenses
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132892000 USD
us-gaap Costs And Expenses
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263351000 USD
CY2016Q2 us-gaap Costs And Expenses
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172948000 USD
us-gaap Costs And Expenses
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286791000 USD
CY2015Q4 us-gaap Costs In Excess Of Billings On Uncompleted Contracts Or Programs
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3261000 USD
CY2016Q2 us-gaap Costs In Excess Of Billings On Uncompleted Contracts Or Programs
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5281000 USD
CY2015Q4 us-gaap Deferred Costs Leasing Accumulated Amortization
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66364000 USD
CY2016Q2 us-gaap Deferred Costs Leasing Accumulated Amortization
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63768000 USD
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53868000 USD
CY2016Q2 us-gaap Deferred Costs Leasing Net
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42632000 USD
CY2015Q4 us-gaap Deferred Finance Costs Net
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5867000 USD
CY2016Q2 us-gaap Deferred Finance Costs Net
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4497000 USD
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105484000 USD
CY2016Q2 us-gaap Deferred Rent Receivables Net
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92316000 USD
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19758000 USD
CY2016Q2 us-gaap Deferred Revenue Leases Net
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17560000 USD
CY2015Q4 us-gaap Deferred Tax Assets Net
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3467000 USD
CY2016Q2 us-gaap Deferred Tax Assets Net
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3589000 USD
CY2015Q2 us-gaap Depreciation And Amortization
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33786000 USD
us-gaap Depreciation And Amortization
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65385000 USD
CY2016Q2 us-gaap Depreciation And Amortization
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33248000 USD
us-gaap Depreciation And Amortization
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67775000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
66404000 USD
us-gaap Depreciation Depletion And Amortization
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68901000 USD
CY2015Q4 us-gaap Development In Process
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429219000 USD
CY2016Q2 us-gaap Development In Process
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387397000 USD
CY2015Q2 us-gaap Direct Costs Of Leased And Rented Property Or Equipment
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46418000 USD
us-gaap Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
97099000 USD
CY2016Q2 us-gaap Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
48141000 USD
us-gaap Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
100016000 USD
CY2015Q2 us-gaap Disposal Group Including Discontinued Operation Revenue
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4000 USD
us-gaap Disposal Group Including Discontinued Operation Revenue
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4000 USD
CY2016Q2 us-gaap Disposal Group Including Discontinued Operation Revenue
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0 USD
us-gaap Disposal Group Including Discontinued Operation Revenue
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0 USD
us-gaap Gains Losses On Extinguishment Of Debt
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-68000 USD
CY2016Q2 us-gaap Incentive To Lessee
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7873000 USD
CY2015Q2 us-gaap Income Loss Before Gain Or Loss On Sale Of Properties Extraordinary Items And Cumulative Effects Of Accounting Changes
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17233000 USD
us-gaap Income Loss Before Gain Or Loss On Sale Of Properties Extraordinary Items And Cumulative Effects Of Accounting Changes
IncomeLossBeforeGainOrLossOnSaleOfPropertiesExtraordinaryItemsAndCumulativeEffectsOfAccountingChanges
27982000 USD
CY2016Q2 us-gaap Income Loss Before Gain Or Loss On Sale Of Properties Extraordinary Items And Cumulative Effects Of Accounting Changes
IncomeLossBeforeGainOrLossOnSaleOfPropertiesExtraordinaryItemsAndCumulativeEffectsOfAccountingChanges
-48316000 USD
us-gaap Dividends
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59106000 USD
us-gaap Dividends
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59175000 USD
CY2015Q2 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
30178000 USD
CY2015Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
30178000 USD
CY2016Q2 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
30219000 USD
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.13
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.23
CY2016Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.54
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.51
CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.13
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.23
CY2016Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.54
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.51
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
0 USD
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-1870000 USD
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
3985000 USD
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
0 USD
CY2015Q2 us-gaap Gain Loss On Sale Of Properties Net Of Applicable Income Taxes
GainLossOnSaleOfPropertiesNetOfApplicableIncomeTaxes
-1000 USD
us-gaap Gain Loss On Sale Of Properties Net Of Applicable Income Taxes
GainLossOnSaleOfPropertiesNetOfApplicableIncomeTaxes
3985000 USD
CY2016Q2 us-gaap Gain Loss On Sale Of Properties Net Of Applicable Income Taxes
GainLossOnSaleOfPropertiesNetOfApplicableIncomeTaxes
0 USD
us-gaap Gain Loss On Sale Of Properties Net Of Applicable Income Taxes
GainLossOnSaleOfPropertiesNetOfApplicableIncomeTaxes
0 USD
CY2015Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-65000 USD
CY2016Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
5000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
22000 USD
CY2016Q2 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
1900000 USD
us-gaap Impairment Of Real Estate
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1472000 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
72138000 USD
CY2015Q4 us-gaap Incentive To Lessee
IncentiveToLessee
11133000 USD
us-gaap Income Loss Before Gain Or Loss On Sale Of Properties Extraordinary Items And Cumulative Effects Of Accounting Changes
IncomeLossBeforeGainOrLossOnSaleOfPropertiesExtraordinaryItemsAndCumulativeEffectsOfAccountingChanges
-40220000 USD
CY2015Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
15402000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
28983000 USD
CY2016Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
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us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-40593000 USD
CY2015Q2 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
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1436000 USD
us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
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2828000 USD
CY2016Q2 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
-897000 USD
us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
373000 USD
CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
16880000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
27897000 USD
CY2016Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-48325000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-40247000 USD
CY2015Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
16839000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
153000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
27826000 USD
CY2016Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
0 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
0 USD
CY2016Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-48316000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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-40220000 USD
CY2015Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.13
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.23
CY2016Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
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us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.51
CY2015Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.13
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.23
CY2016Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.54
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.51
CY2015Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
394000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
156000 USD
CY2016Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
0 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
0 USD
CY2015Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
15000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest
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3000 USD
CY2016Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
0 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
0 USD
CY2015Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
379000 USD
CY2015Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
CY2016Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
CY2015Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
CY2016Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
CY2015Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
9000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
34000 USD
CY2016Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
10000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
20000 USD
CY2015Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
50000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
105000 USD
CY2016Q2 us-gaap Income Tax Expense Benefit
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1000 USD
us-gaap Income Tax Expense Benefit
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-7000 USD
us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Accounts Receivable
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3320000 USD
us-gaap Increase Decrease In Operating Liabilities
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12557000 USD
us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
15394000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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-6518000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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CY2015Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
35000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
114000 shares
CY2016Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2015Q4 us-gaap Minority Interest
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72039000 USD
CY2016Q2 us-gaap Minority Interest
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67997000 USD
CY2015Q4 us-gaap Intangible Assets Net Excluding Goodwill
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98338000 USD
CY2015Q2 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Nonredeemable
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476000 USD
CY2016Q2 us-gaap Intangible Assets Net Excluding Goodwill
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88788000 USD
CY2015Q2 us-gaap Interest And Debt Expense
InterestAndDebtExpense
21768000 USD
us-gaap Interest And Debt Expense
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42606000 USD
CY2016Q2 us-gaap Interest And Debt Expense
InterestAndDebtExpense
22639000 USD
us-gaap Interest And Debt Expense
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46198000 USD
CY2015Q2 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
2000000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
4100000 USD
CY2016Q2 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
1300000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
3100000 USD
us-gaap Interest Paid Net
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32375000 USD
us-gaap Interest Paid Net
InterestPaidNet
41179000 USD
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InterestRateDerivativeLiabilitiesAtFairValue
3160000 USD
CY2016Q2 us-gaap Interest Rate Derivative Liabilities At Fair Value
InterestRateDerivativeLiabilitiesAtFairValue
20245000 USD
CY2015Q4 us-gaap Liabilities
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2273530000 USD
CY2016Q2 us-gaap Liabilities
Liabilities
2318516000 USD
CY2015Q4 us-gaap Liabilities And Stockholders Equity
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3909312000 USD
CY2016Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3841692000 USD
CY2015Q4 us-gaap Long Term Debt
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2077752000 USD
CY2016Q2 us-gaap Long Term Debt
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us-gaap Minority Interest Change In Redemption Value
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349000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
885000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
20989000 USD
CY2015Q4 us-gaap Minority Interest In Operating Partnerships
MinorityInterestInOperatingPartnerships
52359000 USD
CY2016Q2 us-gaap Minority Interest In Operating Partnerships
MinorityInterestInOperatingPartnerships
47550000 USD
CY2015Q4 us-gaap Minority Interest In Preferred Unit Holders
MinorityInterestInPreferredUnitHolders
8800000 USD
CY2016Q2 us-gaap Minority Interest In Preferred Unit Holders
MinorityInterestInPreferredUnitHolders
8800000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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169199000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
122839000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
124400000 USD
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
15781000 USD
us-gaap Net Income Loss
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29136000 USD
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
-47419000 USD
us-gaap Net Income Loss
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-40593000 USD
CY2015Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
12228000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
22031000 USD
CY2016Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-50972000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1
5265000 USD
us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1
0 USD
us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Nonredeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable
874000 USD
CY2016Q2 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Nonredeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable
-1976000 USD
us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Nonredeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable
-1849000 USD
CY2015Q2 us-gaap Noncontrolling Interest In Net Income Loss Preferred Unit Holders Nonredeemable
NoncontrollingInterestInNetIncomeLossPreferredUnitHoldersNonredeemable
165000 USD
us-gaap Noncontrolling Interest In Net Income Loss Preferred Unit Holders Nonredeemable
NoncontrollingInterestInNetIncomeLossPreferredUnitHoldersNonredeemable
330000 USD
CY2016Q2 us-gaap Noncontrolling Interest In Net Income Loss Preferred Unit Holders Nonredeemable
NoncontrollingInterestInNetIncomeLossPreferredUnitHoldersNonredeemable
165000 USD
us-gaap Noncontrolling Interest In Net Income Loss Preferred Unit Holders Nonredeemable
NoncontrollingInterestInNetIncomeLossPreferredUnitHoldersNonredeemable
330000 USD
us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
0 USD
us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
0 USD
CY2015Q4 us-gaap Notes Receivable Net
NotesReceivableNet
47875000 USD
CY2016Q2 us-gaap Notes Receivable Net
NotesReceivableNet
50162000 USD
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
37471000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
68046000 USD
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-27021000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
3443000 USD
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
91790000 USD
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
1084000 USD
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
1067000 USD
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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1092000 USD
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1139000 USD
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
86805000 USD
CY2016Q2 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Organization</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Corporate Office Properties Trust (&#8220;COPT&#8221;) and subsidiaries (collectively, the &#8220;Company&#8221;) is a fully-integrated and self-managed real estate investment trust (&#8220;REIT&#8221;). Corporate Office Properties, L.P. (&#8220;COPLP&#8221;) and subsidiaries (collectively, the &#8220;Operating Partnership&#8221;) is the entity through which COPT, the sole general partner of COPLP, conducts almost all of its operations and owns almost all of its assets. Unless otherwise expressly stated or the context otherwise requires, &#8220;we&#8221;, &#8220;us&#8221; and &#8220;our&#8221; as used herein refer to each of the Company and the Operating Partnership. We own, manage, lease, develop and selectively acquire office and data center properties. The majority of our portfolio is in locations that support United States Government agencies and their contractors, most of whom are engaged in national security, defense and information technology (&#8220;IT&#8221;) related activities servicing what we believe are growing, durable priority missions (&#8220;Defense/IT Locations&#8221;). We also own a complementary portfolio of traditional office properties located in select urban/urban-like submarkets within our regional footprint with durable Class-A office fundamentals and characteristics, as well as other properties supporting general commercial office tenants (&#8220;Regional Office&#8221;). As of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">June&#160;30, 2016</font><font style="font-family:inherit;font-size:10pt;">, our properties included the following:</font></div><div style="line-height:120%;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">181</font><font style="font-family:inherit;font-size:10pt;"> operating office properties totaling </font><font style="font-family:inherit;font-size:10pt;">18.4 million</font><font style="font-family:inherit;font-size:10pt;"> square feet, including </font><font style="font-family:inherit;font-size:10pt;">11</font><font style="font-family:inherit;font-size:10pt;"> triple-net leased, single-tenant data center properties;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">12</font><font style="font-family:inherit;font-size:10pt;"> office properties under, or contractually committed for, construction or redevelopment that we estimate will total approximately </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">1.5 million</font><font style="font-family:inherit;font-size:10pt;"> square feet upon completion, including </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> partially operational properties</font></div></td></tr></table><div style="line-height:120%;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">included above and </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> properties completed but held for future lease to the United States Government;</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">1,379</font><font style="font-family:inherit;font-size:10pt;"> acres of land we control that we believe could be developed into approximately </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">16.7 million</font><font style="font-family:inherit;font-size:10pt;"> square feet; and</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">a wholesale data center with a critical load of </font><font style="font-family:inherit;font-size:10pt;">19.25</font><font style="font-family:inherit;font-size:10pt;"> megawatts.</font></div></td></tr></table><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">COPLP owns real estate both directly and through subsidiary partnerships and limited liability companies (&#8220;LLCs&#8221;).&#160; In addition to owning real estate, COPLP also owns subsidiaries that provide real estate services such as property management and construction and development services primarily for our properties but also for third parties. Some of these services are performed by a taxable REIT subsidiary (&#8220;TRS&#8221;).</font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Equity interests in COPLP are in the form of common and preferred units. As of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">June&#160;30, 2016</font><font style="font-family:inherit;font-size:10pt;">, COPT owned </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">96.3%</font><font style="font-family:inherit;font-size:10pt;"> of the outstanding COPLP common units (&#8220;common units&#8221;) and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">95.5%</font><font style="font-family:inherit;font-size:10pt;"> of the outstanding COPLP preferred units (&#8220;preferred units&#8221;); the remaining common and preferred units in COPLP were owned by third parties. Common units in COPLP not owned by COPT carry certain redemption rights. The number of common units in COPLP owned by COPT is equivalent to the number of outstanding common shares of beneficial interest (&#8220;common shares&#8221;) of COPT, and the entitlement of all COPLP common units to quarterly distributions and payments in liquidation is substantially the same as those of COPT common shareholders. Similarly, in the case of each series of preferred units in COPLP held by COPT, there is a series of preferred shares of beneficial interest (&#8220;preferred shares&#8221;) in COPT that is equivalent in number and carries substantially the same terms as such series of COPLP preferred units. COPT&#8217;s common shares are publicly traded on the New York Stock Exchange (&#8220;NYSE&#8221;) under the ticker symbol &#8220;OFC&#8221;. </font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Because COPLP is managed by COPT, and COPT conducts substantially all of its operations through COPLP, we refer to COPT&#8217;s executive officers as COPLP&#8217;s executive officers, and although, as a partnership, COPLP does not have a board of trustees, we refer to COPT&#8217;s Board of Trustees as COPLP&#8217;s Board of Trustees.</font></div></div>

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