2022 Q3 Form 10-Q Financial Statement

#000086054622000039 Filed on August 02, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2021 Q4
Revenue $182.5M $185.8M $185.9M
YoY Change 9.33% 18.19% 18.73%
Cost Of Revenue $33.56M $41.30M $313.3M
YoY Change 23.87% 116.46% 319.47%
Gross Profit $148.9M $144.5M $351.1M
YoY Change 6.52% 4.61% 293.17%
Gross Profit Margin 81.61% 77.77% 188.83%
Selling, General & Admin $8.898M $8.355M $40.18M
YoY Change -4.75% -9.4% 272.06%
% of Gross Profit 5.97% 5.78% 11.44%
Research & Development $552.0K $701.0K $4.647M
YoY Change -49.5% -48.91% 364.7%
% of Gross Profit 0.37% 0.49% 1.32%
Depreciation & Amortization $35.25M $34.82M $137.6M
YoY Change -3.72% 0.23% 270.82%
% of Gross Profit 23.67% 24.1% 39.18%
Operating Expenses $8.898M $8.355M $182.4M
YoY Change -4.75% -9.4% 276.87%
Operating Profit $140.0M $136.1M $168.7M
YoY Change 7.33% 5.62% 312.47%
Interest Expense $15.12M $14.81M -$56.43M
YoY Change -3.8% -7.11% 321.09%
% of Operating Profit 10.8% 10.88% -33.45%
Other Income/Expense, Net -$1.693M -$225.0K $1.128M
YoY Change -619.33% 16.58% 41.0%
Pretax Income $32.08M $33.28M $78.37M
YoY Change 12.37% -22.57% -6.49%
Income Tax $67.00K $4.000K $145.0K
% Of Pretax Income 0.21% 0.01% 0.19%
Net Earnings $32.32M $33.60M $13.71M
YoY Change 19.24% -20.77% -83.21%
Net Earnings / Revenue 17.71% 18.08% 7.37%
Basic Earnings Per Share $0.28 $0.29 $0.12
Diluted Earnings Per Share $0.27 $0.29 $0.12
COMMON SHARES
Basic Shares Outstanding 112.4M shares 112.1M shares 112.3M shares
Diluted Shares Outstanding 112.6M shares 112.6M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $12.64M $20.74M $13.26M
YoY Change -13.23% 20.68% -27.92%
Cash & Equivalents $12.64M $20.74M $13.26M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $0.00 $0.00 $192.7M
Prepaid Expenses
Receivables $39.72M $31.55M $40.75M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $52.36M $52.29M $246.7M
YoY Change 3.69% -8.48% 311.19%
LONG-TERM ASSETS
Property, Plant & Equipment $8.815M $9.014M $9.599M
YoY Change -11.92% -9.8% -7.99%
Goodwill
YoY Change
Intangibles $11.79M $12.54M $14.57M
YoY Change -25.34% -26.04% -24.32%
Long-Term Investments $52.32M $52.94M $54.18M
YoY Change -4.46% -4.09% 22.03%
Other Assets $101.1M $81.41M $93.12M
YoY Change 5.18% 8.28% 7.77%
Total Long-Term Assets $4.217B $4.133B $4.016B
YoY Change 2.84% 3.45% -0.03%
TOTAL ASSETS
Total Short-Term Assets $52.36M $52.29M $246.7M
Total Long-Term Assets $4.217B $4.133B $4.016B
Total Assets $4.269B $4.185B $4.262B
YoY Change 2.85% 3.29% 4.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $156.8M $177.2M $186.2M
YoY Change -11.22% 39.48% 30.48%
Accrued Expenses $29.09M $29.41M $29.34M
YoY Change -1.83% -1.66% -4.42%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $246.4M $265.7M $279.1M
YoY Change -8.64% 21.27% 15.29%
LONG-TERM LIABILITIES
Long-Term Debt $2.270B $2.178B $2.272B
YoY Change 5.1% 3.23% 9.09%
Other Long-Term Liabilities $27.02M $18.94M $27.07M
YoY Change 8.31% -26.84% -17.47%
Total Long-Term Liabilities $2.297B $2.197B $2.299B
YoY Change 5.13% 2.87% 8.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $246.4M $265.7M $279.1M
Total Long-Term Liabilities $2.297B $2.197B $2.299B
Total Liabilities $2.543B $2.462B $2.578B
YoY Change 3.62% 4.58% 9.36%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $1.124M $1.124M $1.123M
YoY Change 0.09% 0.09% 0.09%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.661B $1.657B $1.623B
YoY Change
Total Liabilities & Shareholders Equity $4.269B $4.185B $4.262B
YoY Change 2.85% 3.29% 4.55%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2021 Q4
OPERATING ACTIVITIES
Net Income $32.32M $33.60M $13.71M
YoY Change 19.24% -20.77% -83.21%
Depreciation, Depletion And Amortization $35.25M $34.82M $137.6M
YoY Change -3.72% 0.23% 270.82%
Cash From Operating Activities $48.41M $86.01M $49.25M
YoY Change -21.78% -11.62% -37.98%
INVESTING ACTIVITIES
Capital Expenditures -$93.37M -$66.89M -$108.5M
YoY Change 21.58% 0.48% 47.97%
Acquisitions
YoY Change
Other Investing Activities -$23.98M -$2.427M $17.48M
YoY Change 421.78% -102.23% -87.83%
Cash From Investing Activities -$117.3M -$69.31M -$90.98M
YoY Change 44.17% -264.25% -229.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 59.68M -14.89M 40.90M
YoY Change 276.06% -90.58% -128.72%
NET CHANGE
Cash From Operating Activities 48.41M 86.01M 49.25M
Cash From Investing Activities -117.3M -69.31M -90.98M
Cash From Financing Activities 59.68M -14.89M 40.90M
Net Change In Cash -9.249M 1.803M -829.0K
YoY Change 154.79% -109.72% -111.2%
FREE CASH FLOW
Cash From Operating Activities $48.41M $86.01M $49.25M
Capital Expenditures -$93.37M -$66.89M -$108.5M
Free Cash Flow $141.8M $152.9M $157.7M
YoY Change 2.23% -6.7% 3.28%

Facts In Submission

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CY2021Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
260000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1206000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
482000 usd
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4000 usd
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
24000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
157000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
56000 usd
CY2022Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
33595000 usd
CY2021Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
43219000 usd
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
64846000 usd
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
36325000 usd
CY2022Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
0 usd
CY2021Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
679000 usd
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
29573000 usd
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
1494000 usd
CY2022Q2 us-gaap Profit Loss
ProfitLoss
33595000 usd
CY2021Q2 us-gaap Profit Loss
ProfitLoss
43898000 usd
us-gaap Profit Loss
ProfitLoss
94419000 usd
us-gaap Profit Loss
ProfitLoss
37819000 usd
CY2022Q2 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Nonredeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable
496000 usd
CY2021Q2 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Nonredeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable
559000 usd
us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Nonredeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable
1352000 usd
us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Nonredeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable
474000 usd
CY2022Q2 ofc Minority Interest In Net Income Loss Other Including Joint Ventures Minority Interests
MinorityInterestInNetIncomeLossOtherIncludingJointVenturesMinorityInterests
789000 usd
CY2021Q2 ofc Minority Interest In Net Income Loss Other Including Joint Ventures Minority Interests
MinorityInterestInNetIncomeLossOtherIncludingJointVenturesMinorityInterests
938000 usd
ofc Minority Interest In Net Income Loss Other Including Joint Ventures Minority Interests
MinorityInterestInNetIncomeLossOtherIncludingJointVenturesMinorityInterests
1438000 usd
ofc Minority Interest In Net Income Loss Other Including Joint Ventures Minority Interests
MinorityInterestInNetIncomeLossOtherIncludingJointVenturesMinorityInterests
1613000 usd
CY2022Q2 ofc Net Income Loss Available To Common Stockholders Including Participating Securities
NetIncomeLossAvailableToCommonStockholdersIncludingParticipatingSecurities
32310000 usd
CY2021Q2 ofc Net Income Loss Available To Common Stockholders Including Participating Securities
NetIncomeLossAvailableToCommonStockholdersIncludingParticipatingSecurities
42401000 usd
ofc Net Income Loss Available To Common Stockholders Including Participating Securities
NetIncomeLossAvailableToCommonStockholdersIncludingParticipatingSecurities
91629000 usd
ofc Net Income Loss Available To Common Stockholders Including Participating Securities
NetIncomeLossAvailableToCommonStockholdersIncludingParticipatingSecurities
35732000 usd
CY2022Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.29
CY2021Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.37
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.55
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.30
CY2022Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0
CY2021Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.01
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.26
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.02
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.29
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.38
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.81
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.32
CY2022Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.29
CY2021Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.37
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.55
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.30
CY2022Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0
CY2021Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.01
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.26
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.02
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.29
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.38
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.81
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.32
CY2022Q2 us-gaap Profit Loss
ProfitLoss
33595000 usd
CY2021Q2 us-gaap Profit Loss
ProfitLoss
43898000 usd
us-gaap Profit Loss
ProfitLoss
94419000 usd
us-gaap Profit Loss
ProfitLoss
37819000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
1008000 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
-240000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
3545000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
544000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-754000 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-1203000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-1757000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-2378000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1762000 usd
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
963000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
5302000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
2922000 usd
CY2022Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
35357000 usd
CY2021Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
44861000 usd
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
99721000 usd
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
40741000 usd
CY2022Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
1405000 usd
CY2021Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
1484000 usd
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
3227000 usd
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
2267000 usd
CY2022Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
33952000 usd
CY2021Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
43377000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
96494000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
38474000 usd
CY2021Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
112327234 shares
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1656792000 usd
CY2021Q2 us-gaap Partners Capital Account Redemptions
PartnersCapitalAccountRedemptions
241000 usd
CY2021Q2 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
8836 shares
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2145000 usd
CY2021Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
68000 usd
CY2021Q2 ofc Noncontrolling Interest Increase Decrease From Changes In Ownership
NoncontrollingInterestIncreaseDecreaseFromChangesInOwnership
0 usd
CY2021Q2 ofc Comprehensive Income Loss Net Of Tax After Redeemable Noncontrolling Interest Adjustments
ComprehensiveIncomeLossNetOfTaxAfterRedeemableNoncontrollingInterestAdjustments
44120000 usd
CY2021Q2 us-gaap Dividends
Dividends
30888000 usd
CY2021Q2 ofc Minority Interest Decrease From Distributions To Operating Partnership Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToOperatingPartnershipNoncontrollingInterestHolders
400000 usd
CY2021Q2 ofc Minority Interest Decrease From Distributions Including Joint Ventures
MinorityInterestDecreaseFromDistributionsIncludingJointVentures
8000 usd
CY2021Q2 ofc Adjustmentto Equityto Arriveat Fair Valueof Redeemable Noncontrolling Interest
AdjustmenttoEquitytoArriveatFairValueofRedeemableNoncontrollingInterest
-140000 usd
CY2021Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
112336070 shares
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1671312000 usd
CY2022Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
112418811 shares
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1690536000 usd
CY2022Q2 us-gaap Partners Capital Account Redemptions
PartnersCapitalAccountRedemptions
164000 usd
CY2022Q2 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
5860 shares
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2377000 usd
CY2022Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
61000 usd
CY2022Q2 ofc Noncontrolling Interest Increase Decrease From Changes In Ownership
NoncontrollingInterestIncreaseDecreaseFromChangesInOwnership
0 usd
CY2022Q2 ofc Comprehensive Income Loss Net Of Tax After Redeemable Noncontrolling Interest Adjustments
ComprehensiveIncomeLossNetOfTaxAfterRedeemableNoncontrollingInterestAdjustments
34618000 usd
CY2022Q2 us-gaap Dividends
Dividends
30913000 usd
CY2022Q2 ofc Minority Interest Decrease From Distributions To Operating Partnership Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToOperatingPartnershipNoncontrollingInterestHolders
472000 usd
CY2022Q2 ofc Minority Interest Decrease From Distributions Including Joint Ventures
MinorityInterestDecreaseFromDistributionsIncludingJointVentures
8000 usd
CY2022Q2 ofc Adjustmentto Equityto Arriveat Fair Valueof Redeemable Noncontrolling Interest
AdjustmenttoEquitytoArriveatFairValueofRedeemableNoncontrollingInterest
38000 usd
CY2022Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
112424671 shares
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1695951000 usd
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
112181759 shares
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1693712000 usd
us-gaap Stock Issued During Period Shares Conversion Of Units
StockIssuedDuringPeriodSharesConversionOfUnits
8054 shares
us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
0 usd
us-gaap Partners Capital Account Redemptions
PartnersCapitalAccountRedemptions
241000 usd
us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
146257 shares
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4160000 usd
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
2358000 usd
ofc Noncontrolling Interest Increase Decrease From Changes In Ownership
NoncontrollingInterestIncreaseDecreaseFromChangesInOwnership
0 usd
ofc Comprehensive Income Loss Net Of Tax After Redeemable Noncontrolling Interest Adjustments
ComprehensiveIncomeLossNetOfTaxAfterRedeemableNoncontrollingInterestAdjustments
39588000 usd
us-gaap Dividends
Dividends
61790000 usd
ofc Minority Interest Decrease From Distributions To Operating Partnership Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToOperatingPartnershipNoncontrollingInterestHolders
798000 usd
ofc Minority Interest Decrease From Distributions Including Joint Ventures
MinorityInterestDecreaseFromDistributionsIncludingJointVentures
15000 usd
ofc Adjustmentto Equityto Arriveat Fair Valueof Redeemable Noncontrolling Interest
AdjustmenttoEquitytoArriveatFairValueofRedeemableNoncontrollingInterest
-622000 usd
ofc Other Adjustment
OtherAdjustment
324000 usd
CY2021Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
112336070 shares
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1671312000 usd
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
112327533 shares
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1657075000 usd
us-gaap Partners Capital Account Redemptions
PartnersCapitalAccountRedemptions
376000 usd
us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
97138 shares
CY2022Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
112424671 shares
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4678000 usd
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
1120000 usd
ofc Noncontrolling Interest Increase Decrease From Changes In Ownership
NoncontrollingInterestIncreaseDecreaseFromChangesInOwnership
0 usd
ofc Comprehensive Income Loss Net Of Tax After Redeemable Noncontrolling Interest Adjustments
ComprehensiveIncomeLossNetOfTaxAfterRedeemableNoncontrollingInterestAdjustments
98415000 usd
us-gaap Dividends
Dividends
61842000 usd
ofc Minority Interest Decrease From Distributions To Operating Partnership Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToOperatingPartnershipNoncontrollingInterestHolders
941000 usd
ofc Minority Interest Decrease From Distributions Including Joint Ventures
MinorityInterestDecreaseFromDistributionsIncludingJointVentures
15000 usd
ofc Adjustmentto Equityto Arriveat Fair Valueof Redeemable Noncontrolling Interest
AdjustmenttoEquitytoArriveatFairValueofRedeemableNoncontrollingInterest
77000 usd
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1695951000 usd
ofc Revenues From Real Estate Operations Received
RevenuesFromRealEstateOperationsReceived
285858000 usd
ofc Revenues From Real Estate Operations Received
RevenuesFromRealEstateOperationsReceived
280708000 usd
ofc Construction Contract And Other Service Revenues Received
ConstructionContractAndOtherServiceRevenuesReceived
90663000 usd
ofc Construction Contract And Other Service Revenues Received
ConstructionContractAndOtherServiceRevenuesReceived
38419000 usd
ofc Property Operating Expenses Paid
PropertyOperatingExpensesPaid
99512000 usd
ofc Property Operating Expenses Paid
PropertyOperatingExpensesPaid
91672000 usd
ofc Construction Contract And Other Service Expenses Paid
ConstructionContractAndOtherServiceExpensesPaid
88833000 usd
ofc Construction Contract And Other Service Expenses Paid
ConstructionContractAndOtherServiceExpensesPaid
34445000 usd
ofc Generaland Administrative Leasing Business Developmentand Land Carry Paid
GeneralandAdministrativeLeasingBusinessDevelopmentandLandCarryPaid
17782000 usd
ofc Generaland Administrative Leasing Business Developmentand Land Carry Paid
GeneralandAdministrativeLeasingBusinessDevelopmentandLandCarryPaid
15399000 usd
us-gaap Interest Paid Net
InterestPaidNet
26732000 usd
us-gaap Interest Paid Net
InterestPaidNet
31392000 usd
ofc Paymentsof Lease Incentives
PaymentsofLeaseIncentives
7739000 usd
ofc Paymentsof Lease Incentives
PaymentsofLeaseIncentives
7442000 usd
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
2797000 usd
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-765000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
138720000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
138012000 usd
us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
142862000 usd
us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
110909000 usd
us-gaap Payments For Tenant Improvements
PaymentsForTenantImprovements
16734000 usd
us-gaap Payments For Tenant Improvements
PaymentsForTenantImprovements
10872000 usd
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
21590000 usd
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
12382000 usd
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
220780000 usd
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
114394000 usd
us-gaap Payments For Leasing Costs
PaymentsForLeasingCosts
4121000 usd
us-gaap Payments For Leasing Costs
PaymentsForLeasingCosts
11408000 usd
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
565000 usd
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-576000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
34908000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-30601000 usd
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
329000000 usd
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
387000000 usd
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
0 usd
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
589818000 usd
us-gaap Proceeds From Issuance Of Other Long Term Debt
ProceedsFromIssuanceOfOtherLongTermDebt
0 usd
us-gaap Proceeds From Issuance Of Other Long Term Debt
ProceedsFromIssuanceOfOtherLongTermDebt
4459000 usd
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
224000000 usd
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
361000000 usd
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
0 usd
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
600000000 usd
ofc Scheduled Principal Amortization Repayments Of Long Term Debt
ScheduledPrincipalAmortizationRepaymentsOfLongTermDebt
1618000 usd
ofc Scheduled Principal Amortization Repayments Of Long Term Debt
ScheduledPrincipalAmortizationRepaymentsOfLongTermDebt
1922000 usd
us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
200000000 usd
us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
0 usd
us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
6000 usd
us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
55713000 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
61814000 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
61747000 usd
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-6859000 usd
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-8564000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-165297000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-107669000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
8331000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-258000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17316000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
22033000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
25647000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
21775000 usd
us-gaap Profit Loss
ProfitLoss
94419000 usd
us-gaap Profit Loss
ProfitLoss
37819000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
70235000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
76476000 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
2351000 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
2666000 usd
us-gaap Straight Line Rent
StraightLineRent
11603000 usd
us-gaap Straight Line Rent
StraightLineRent
9421000 usd
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
28560000 usd
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
39743000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
4301000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
3913000 usd
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us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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us-gaap Other Noncash Income Expense
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2549000 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
2462000 usd
us-gaap Increase Decrease In Accounts Receivable
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-9374000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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ofc Increase Decrease In Lease Incentives And Prepaid Expenses And Other Assets Net
IncreaseDecreaseInLeaseIncentivesAndPrepaidExpensesAndOtherAssetsNet
-8407000 usd
ofc Increase Decrease In Lease Incentives And Prepaid Expenses And Other Assets Net
IncreaseDecreaseInLeaseIncentivesAndPrepaidExpensesAndOtherAssetsNet
-13894000 usd
us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
-3480000 usd
us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
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ofc Increase Decrease In Advance Rent And Security Deposit Liability
IncreaseDecreaseInAdvanceRentAndSecurityDepositLiability
-4517000 usd
ofc Increase Decrease In Advance Rent And Security Deposit Liability
IncreaseDecreaseInAdvanceRentAndSecurityDepositLiability
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
138720000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
138012000 usd
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CashAndCashEquivalentsAtCarryingValue
13262000 usd
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CashAndCashEquivalentsAtCarryingValue
18369000 usd
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4054000 usd
CY2020Q4 us-gaap Restricted Cash
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3664000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17316000 usd
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
22033000 usd
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
20735000 usd
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
17182000 usd
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4912000 usd
CY2021Q2 us-gaap Restricted Cash
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4593000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
25647000 usd
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
21775000 usd
ofc Increase Decrease In Accrued Capital Improvements Leasing And Other Investing Activity Costs
IncreaseDecreaseInAccruedCapitalImprovementsLeasingAndOtherInvestingActivityCosts
-6222000 usd
ofc Increase Decrease In Accrued Capital Improvements Leasing And Other Investing Activity Costs
IncreaseDecreaseInAccruedCapitalImprovementsLeasingAndOtherInvestingActivityCosts
-15887000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
683000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
328000 usd
ofc Increasein Investmentin Unconsolidated Real Estate Joint Venturein Connection With Partial Saleof Properties
IncreaseinInvestmentinUnconsolidatedRealEstateJointVentureinConnectionWithPartialSaleofProperties
0 usd
ofc Increasein Investmentin Unconsolidated Real Estate Joint Venturein Connection With Partial Saleof Properties
IncreaseinInvestmentinUnconsolidatedRealEstateJointVentureinConnectionWithPartialSaleofProperties
11842000 usd
ofc Increase Decrease In Fair Value Of Derivatives Applied To Aocl And Noncontrolling Interests
IncreaseDecreaseInFairValueOfDerivativesAppliedToAoclAndNoncontrollingInterests
5072000 usd
ofc Increase Decrease In Fair Value Of Derivatives Applied To Aocl And Noncontrolling Interests
IncreaseDecreaseInFairValueOfDerivativesAppliedToAoclAndNoncontrollingInterests
2922000 usd
CY2022Q2 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
31400000 usd
CY2021Q2 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
31302000 usd
ofc Equity Change Stock Issued During Period Value Conversion Of Units
EquityChangeStockIssuedDuringPeriodValueConversionOfUnits
0 usd
ofc Equity Change Stock Issued During Period Value Conversion Of Units
EquityChangeStockIssuedDuringPeriodValueConversionOfUnits
121000 usd
ofc Equity Change Adjustments To Additional Paid In Capital Reallocation Of Minority Interest
EquityChangeAdjustmentsToAdditionalPaidInCapitalReallocationOfMinorityInterest
1378000 usd
ofc Equity Change Adjustments To Additional Paid In Capital Reallocation Of Minority Interest
EquityChangeAdjustmentsToAdditionalPaidInCapitalReallocationOfMinorityInterest
-194000 usd
us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
-77000 usd
us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
622000 usd
us-gaap Nature Of Operations
NatureOfOperations
Organization<div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Corporate Office Properties Trust (“COPT”) and subsidiaries (collectively, the “Company”, “we” or “us”) is a fully-integrated and self-managed real estate investment trust (“REIT”). We own, manage, lease, develop and selectively acquire office and data center properties. The majority of our portfolio is in locations that support the United States Government (“USG”) and its contractors, most of whom are engaged in national security, defense and information technology (“IT”) related activities servicing what we believe are growing, durable, priority missions (“Defense/IT Locations”). We also own a portfolio of office properties located in select urban/urban-like submarkets in the Greater Washington, DC/Baltimore region with durable Class-A office fundamentals and characteristics (“Regional Office”). As of June 30, 2022, our properties included the following:</span></div><div style="text-indent:18pt"><span><br/></span></div><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:14.85pt">188 properties totaling 22.1 million square feet comprised of 17.1 million square feet in 161 office properties and 5.0 million square feet in 27 single-tenant data center shells. We owned 19 of these data center shells through unconsolidated real estate joint ventures;</span></div><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:14.85pt">12 properties under development (nine office properties and three data center shells), including one partially-operational property, and an expansion of one fully-operational property that we estimate will total approximately 1.9 million square feet upon completion; and</span></div><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:14.85pt">approximately 710 acres of land controlled for future development that we believe could be developed into approximately 8.4 million square feet and 43 acres of other land.</span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">We conduct almost all of our operations and own almost all of our assets through our operating partnership, Corporate Office Properties, L.P. (“COPLP”) and subsidiaries (collectively, the “Operating Partnership”), of which COPT is the sole general partner. COPLP owns real estate directly and through subsidiary partnerships and limited liability companies (“LLCs”).  In addition to owning real estate, COPLP also owns subsidiaries that provide real estate services such as property management, development and construction services primarily for our properties but also for third parties. Some of these services are performed by a taxable REIT subsidiary (“TRS”).</span></div><div style="text-indent:18pt"><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Equity interests in COPLP are in the form of common and preferred units. As of June 30, 2022, COPT owned 98.0% of the outstanding COPLP common units (“common units”) and there were no preferred units outstanding. Common units not owned by COPT carry certain redemption rights. The number of common units owned by COPT is equivalent to the number of outstanding common shares of beneficial interest (“common shares”) of COPT, and the entitlement of common units to quarterly distributions and payments in liquidation is substantially the same as that of COPT common shareholders.</span></div>COPT’s common shares are publicly traded on the New York Stock Exchange (“NYSE”) under the ticker symbol “OFC”.
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Reclassifications</span></div><div><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">We reclassified certain amounts from prior periods to conform to the current period presentation of our consolidated financial statements with no effect on previously reported net income or equity, including amounts reclassified in conjunction with the transfer of a wholesale data center to discontinued operations in the fourth quarter of 2021. We provide disclosure regarding our discontinued operations in Note 4.</span></div>
CY2022Q2 ofc Sales Type And Direct Financing Leases Lease Receivable To Be Received After Year Four
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CY2022Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Next Twelve Months
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960000 usd
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372126000 usd
CY2022Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Two Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedTwoYears
960000 usd
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285179000 usd
CY2022Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Three Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThreeYears
960000 usd
CY2022Q2 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
221782000 usd
CY2022Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Four Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFourYears
960000 usd
CY2022Q2 ofc Lessor Operating Lease Paymenttobe Receivedafter Year Four
LessorOperatingLeasePaymenttobeReceivedafterYearFour
1055808000 usd
CY2022Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Undiscounted Excess Amount
SalesTypeAndDirectFinancingLeasesLeaseReceivableUndiscountedExcessAmount
1942000 usd
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SalesTypeAndDirectFinancingLeasesLeaseReceivable
5934000 usd
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LesseeRightOfUseAssetCarryingValue
40300000 usd
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
38056000 usd
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OperatingLeaseRightOfUseAsset
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us-gaap Operating Lease Payments
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1676000 usd
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FinanceLeaseRightOfUseAsset
2222000 usd
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2238000 usd
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40278000 usd
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LeaseRightofUseAssets
40599000 usd
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29412000 usd
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29342000 usd
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P52Y
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0.0719
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1057000 usd
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1032000 usd
us-gaap Lease Cost
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2100000 usd
us-gaap Lease Cost
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2024000 usd
us-gaap Operating Lease Payments
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1586000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
0 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
10000 usd
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1679000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3399000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3451000 usd
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LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1797000 usd
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1578000 usd
CY2022Q2 ofc Lessee Operating Lease Liabilitytobe Paidafter Year Four
LesseeOperatingLeaseLiabilitytobePaidafterYearFour
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137838000 usd
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NonrealEstateEquityInvestments
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NonrealEstateEquityInvestments
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1841000 usd
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1350000 usd
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us-gaap Interest Costs Capitalized
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us-gaap Interest Costs Capitalized
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3500000 usd
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InterestRateDerivativesAtFairValueNet
2468000 usd
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InterestRateDerivativesAtFairValueNet
-3289000 usd
ofc Numberof Joint Ventures With Redeemable Noncontrolling Interests
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2 joint_venture
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us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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1153000 usd
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us-gaap Minority Interest Change In Redemption Value
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622000 usd
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26752000 usd
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26040000 usd
CY2022Q2 ofc At Market Stock Offering Program Established Aggregate Value
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300000000 usd
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us-gaap Common Stock Dividends Per Share Declared
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us-gaap Common Stock Dividends Per Share Declared
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0.550
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3569000 usd
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3478000 usd
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4697000 usd
us-gaap Disposal Group Including Discontinued Operation Revenue
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14538000 usd
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CY2021Q2 ofc Credit Losses Financial Assetsand Other Instruments Allowancefor Credit Loss
CreditLossesFinancialAssetsandOtherInstrumentsAllowanceforCreditLoss
3983000 usd
CY2022Q1 ofc Number Of Properties Changing Reportable Segments
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2 property
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42557000 usd
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2021Q2 us-gaap Disposal Group Including Discontinued Operation Revenue
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us-gaap Disposal Group Including Discontinued Operation Revenue
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1980000 usd
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973000 usd
CY2022Q2 us-gaap Revenues
Revenues
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CY2021Q2 us-gaap Revenues
Revenues
157207000 usd
us-gaap Revenues
Revenues
381283000 usd
us-gaap Revenues
Revenues
311595000 usd
CY2022Q2 ofc Cost Of Other Property Operating Expense Excluding Discontinued Operations
CostOfOtherPropertyOperatingExpenseExcludingDiscontinuedOperations
54116000 usd
CY2021Q2 ofc Cost Of Other Property Operating Expense Excluding Discontinued Operations
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