$CDP
COPT Defense Properties

2023 Q4 Form 10-Q Financial Statement

#000086054623000048 Filed on November 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $179.7M $168.6M
YoY Change 2.56% -7.64%
Cost Of Revenue $81.74M $71.44M
YoY Change 1.13% 112.9%
Gross Profit $97.99M $97.12M
YoY Change 3.78% -34.8%
Gross Profit Margin 54.52% 57.62%
Selling, General & Admin $10.55M $10.58M
YoY Change -4.53% 18.86%
% of Gross Profit 10.76% 10.89%
Research & Development $797.0K $1.935M
YoY Change -31.11% 250.54%
% of Gross Profit 0.81% 1.99%
Depreciation & Amortization $36.74M $37.64M
YoY Change -0.58% 6.76%
% of Gross Profit 37.49% 38.75%
Operating Expenses $48.08M $10.58M
YoY Change -2.19% 18.86%
Operating Profit $49.90M $86.54M
YoY Change 10.27% -38.21%
Interest Expense -$14.96M $17.80M
YoY Change 12.94% 17.69%
% of Operating Profit -29.98% 20.57%
Other Income/Expense, Net $2.529M
YoY Change -249.38%
Pretax Income $34.94M -$221.0M
YoY Change -33.2% -788.97%
Income Tax $121.0K $152.0K
% Of Pretax Income 0.35%
Net Earnings $33.55M -$221.2M
YoY Change -33.28% -784.51%
Net Earnings / Revenue 18.67% -131.24%
Basic Earnings Per Share -$1.94
Diluted Earnings Per Share $0.30 -$1.94
COMMON SHARES
Basic Shares Outstanding 112.5M shares 112.5M shares
Diluted Shares Outstanding 112.2M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $167.8M $204.2M
YoY Change 1260.3% 1515.42%
Cash & Equivalents $167.8M $204.2M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $0.00 $0.00
Prepaid Expenses
Receivables $48.95M $40.21M
Other Receivables $0.00 $0.00
Total Short-Term Assets $216.8M $244.4M
YoY Change -0.09% 366.84%
LONG-TERM ASSETS
Property, Plant & Equipment $3.545B $3.511B
YoY Change 42682.69% 39732.88%
Goodwill
YoY Change
Intangibles $6.852M
YoY Change -31.2%
Long-Term Investments $41.05M $41.50M
YoY Change 17.52% -20.69%
Other Assets $152.1M $152.0M
YoY Change 50.31% 50.29%
Total Long-Term Assets $4.030B $3.995B
YoY Change -0.25% -5.27%
TOTAL ASSETS
Total Short-Term Assets $216.8M $244.4M
Total Long-Term Assets $4.030B $3.995B
Total Assets $4.247B $4.239B
YoY Change -0.24% -0.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $133.3M $135.6M
YoY Change -15.62% -13.53%
Accrued Expenses $33.93M $32.94M
YoY Change 17.98% 13.24%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $235.3M $233.3M
YoY Change -5.19% -5.32%
LONG-TERM LIABILITIES
Long-Term Debt $2.416B $2.416B
YoY Change 8.27% 6.45%
Other Long-Term Liabilities $48.05M $42.11M
YoY Change 62.53% 55.86%
Total Long-Term Liabilities $2.464B $2.458B
YoY Change 8.98% 7.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $235.3M $233.3M
Total Long-Term Liabilities $2.464B $2.458B
Total Liabilities $2.763B $2.692B
YoY Change 10.1% 5.83%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $1.126M $1.125M
YoY Change 0.18% 0.09%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.484B $1.486B
YoY Change
Total Liabilities & Shareholders Equity $4.247B $4.239B
YoY Change -0.24% -0.7%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $33.55M -$221.2M
YoY Change -33.28% -784.51%
Depreciation, Depletion And Amortization $36.74M $37.64M
YoY Change -0.58% 6.76%
Cash From Operating Activities $109.5M $25.91M
YoY Change 39.11% -46.49%
INVESTING ACTIVITIES
Capital Expenditures $71.02M $84.33M
YoY Change -19.82% -190.32%
Acquisitions
YoY Change
Other Investing Activities $3.241M -$1.017M
YoY Change -96.3% -95.76%
Cash From Investing Activities -$67.78M -$85.45M
YoY Change 6531.7% -27.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -34.77M 205.7M
YoY Change -55.17% 244.73%
NET CHANGE
Cash From Operating Activities 109.5M 25.91M
Cash From Investing Activities -67.78M -85.45M
Cash From Financing Activities -34.77M 205.7M
Net Change In Cash 6.921M 146.2M
YoY Change 6135.14% -1680.65%
FREE CASH FLOW
Cash From Operating Activities $109.5M $25.91M
Capital Expenditures $71.02M $84.33M
Free Cash Flow $38.45M -$58.42M
YoY Change -488.93% -141.21%

Facts In Submission

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IncomeLossFromContinuingOperationsPerDilutedShare
-1.94
CY2022Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.27
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.96
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.83
CY2023Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0
CY2022Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.25
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.94
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.27
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.96
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.08
CY2023Q3 us-gaap Profit Loss
ProfitLoss
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CY2022Q3 us-gaap Profit Loss
ProfitLoss
32316000 usd
us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
126735000 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
2042000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
1101000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
6816000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
4646000 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
1146000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
77000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
2711000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-1680000 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
896000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1024000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
4105000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
6326000 usd
CY2023Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-220311000 usd
CY2022Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
33340000 usd
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
133061000 usd
CY2023Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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CY2022Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
1593000 usd
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
4820000 usd
CY2023Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-215317000 usd
CY2022Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
31747000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
128241000 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
CY2022Q3 us-gaap Partners Capital Account Redemptions
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86000 usd
CY2022Q3 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
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CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2434000 usd
CY2022Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
48000 usd
CY2022Q3 ofc Noncontrolling Interest Increase Decrease From Changes In Ownership
NoncontrollingInterestIncreaseDecreaseFromChangesInOwnership
0 usd
CY2022Q3 ofc Comprehensive Income Loss Net Of Tax After Redeemable Noncontrolling Interest Adjustments
ComprehensiveIncomeLossNetOfTaxAfterRedeemableNoncontrollingInterestAdjustments
32546000 usd
CY2022Q3 us-gaap Dividends
Dividends
30917000 usd
CY2022Q3 ofc Adjustment For Changes In Fair Value Of Redeemable Noncontrolling Interests
AdjustmentForChangesInFairValueOfRedeemableNoncontrollingInterests
1265000 usd
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
112423263 shares
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1700666000 usd
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
112538555 shares
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1776695000 usd
CY2023Q3 us-gaap Partners Capital Account Redemptions
PartnersCapitalAccountRedemptions
86000 usd
CY2023Q3 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
9291 shares
CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2459000 usd
CY2023Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
48000 usd
CY2023Q3 ofc Noncontrolling Interest Increase Decrease From Changes In Ownership
NoncontrollingInterestIncreaseDecreaseFromChangesInOwnership
0 usd
CY2023Q3 ofc Comprehensive Income Loss Net Of Tax After Redeemable Noncontrolling Interest Adjustments
ComprehensiveIncomeLossNetOfTaxAfterRedeemableNoncontrollingInterestAdjustments
-220905000 usd
CY2023Q3 us-gaap Dividends
Dividends
32081000 usd
CY2023Q3 ofc Minority Interest Decrease From Distributions To Operating Partnership Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToOperatingPartnershipNoncontrollingInterestHolders
547000 usd
CY2023Q3 ofc Minority Interest Decrease From Distributions Including Joint Ventures
MinorityInterestDecreaseFromDistributionsIncludingJointVentures
7000 usd
CY2023Q3 ofc Adjustment For Changes In Fair Value Of Redeemable Noncontrolling Interests
AdjustmentForChangesInFairValueOfRedeemableNoncontrollingInterests
393000 usd
CY2023Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
112547846 shares
CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1525873000 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
462000 usd
us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
95730 shares
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
7112000 usd
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
1168000 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
130961000 usd
us-gaap Dividends
Dividends
92759000 usd
ofc Minority Interest Decrease From Distributions To Operating Partnership Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToOperatingPartnershipNoncontrollingInterestHolders
1412000 usd
ofc Minority Interest Decrease From Distributions Including Joint Ventures
MinorityInterestDecreaseFromDistributionsIncludingJointVentures
23000 usd
ofc Adjustment For Changes In Fair Value Of Redeemable Noncontrolling Interests
AdjustmentForChangesInFairValueOfRedeemableNoncontrollingInterests
1342000 usd
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
112423263 shares
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1700666000 usd
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
112423893 shares
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1721455000 usd
us-gaap Partners Capital Account Redemptions
PartnersCapitalAccountRedemptions
540000 usd
us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
123953 shares
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6636000 usd
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
1199000 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
-106918000 usd
us-gaap Dividends
Dividends
96256000 usd
ofc Minority Interest Decrease From Distributions To Operating Partnership Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToOperatingPartnershipNoncontrollingInterestHolders
1639000 usd
ofc Minority Interest Decrease From Distributions Including Joint Ventures
MinorityInterestDecreaseFromDistributionsIncludingJointVentures
22000 usd
ofc Adjustment For Changes In Fair Value Of Redeemable Noncontrolling Interests
AdjustmentForChangesInFairValueOfRedeemableNoncontrollingInterests
1686000 usd
ofc Noncontrolling Interest Change For Reclassification Of Redeemable Noncontrolling Interest To Equity
NoncontrollingInterestChangeForReclassificationOfRedeemableNoncontrollingInterestToEquity
2670000 usd
CY2023Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
112547846 shares
CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1525873000 usd
ofc Revenues From Real Estate Operations Received
RevenuesFromRealEstateOperationsReceived
476679000 usd
ofc Revenues From Real Estate Operations Received
RevenuesFromRealEstateOperationsReceived
431447000 usd
ofc Construction Contract And Other Service Revenues Received
ConstructionContractAndOtherServiceRevenuesReceived
59245000 usd
ofc Construction Contract And Other Service Revenues Received
ConstructionContractAndOtherServiceRevenuesReceived
130710000 usd
ofc Property Operating Expenses Paid
PropertyOperatingExpensesPaid
183061000 usd
ofc Property Operating Expenses Paid
PropertyOperatingExpensesPaid
179306000 usd
ofc Construction Contract And Other Service Expenses Paid
ConstructionContractAndOtherServiceExpensesPaid
51220000 usd
ofc Construction Contract And Other Service Expenses Paid
ConstructionContractAndOtherServiceExpensesPaid
128428000 usd
ofc General And Administrative Leasing And Other Expenses Paid
GeneralAndAdministrativeLeasingAndOtherExpensesPaid
24739000 usd
ofc General And Administrative Leasing And Other Expenses Paid
GeneralAndAdministrativeLeasingAndOtherExpensesPaid
24630000 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
3889000 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
3503000 usd
us-gaap Interest Paid Net
InterestPaidNet
42829000 usd
us-gaap Interest Paid Net
InterestPaidNet
37561000 usd
ofc Paymentsof Lease Incentives
PaymentsofLeaseIncentives
21072000 usd
ofc Paymentsof Lease Incentives
PaymentsofLeaseIncentives
8360000 usd
ofc Payments For Sales Type Lease Costs
PaymentsForSalesTypeLeaseCosts
7236000 usd
ofc Payments For Sales Type Lease Costs
PaymentsForSalesTypeLeaseCosts
0 usd
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
3869000 usd
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
3262000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
209636000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
187134000 usd
us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
211100000 usd
us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
223298000 usd
us-gaap Payments For Tenant Improvements
PaymentsForTenantImprovements
57020000 usd
us-gaap Payments For Tenant Improvements
PaymentsForTenantImprovements
22550000 usd
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
13310000 usd
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
28705000 usd
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
189506000 usd
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
220810000 usd
us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
213000 usd
us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
19000000 usd
us-gaap Payments For Leasing Costs
PaymentsForLeasingCosts
10698000 usd
us-gaap Payments For Leasing Costs
PaymentsForLeasingCosts
10544000 usd
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
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us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
291000000 usd
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
451000000 usd
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
336375000 usd
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
0 usd
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
427000000 usd
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
254000000 usd
us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
0 usd
us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
200000000 usd
ofc Scheduled Principal Amortization Repayments Of Long Term Debt
ScheduledPrincipalAmortizationRepaymentsOfLongTermDebt
2289000 usd
ofc Scheduled Principal Amortization Repayments Of Long Term Debt
ScheduledPrincipalAmortizationRepaymentsOfLongTermDebt
2469000 usd
us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
15902000 usd
us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
0 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
95095000 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
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us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
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us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
81034000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
188823000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-918000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
16509000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17316000 usd
us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
126735000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
114041000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
106084000 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
252797000 usd
us-gaap Straight Line Rent
StraightLineRent
2899000 usd
us-gaap Straight Line Rent
StraightLineRent
13660000 usd
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
49392000 usd
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
28576000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
6542000 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
2382000 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
2238000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-3111000 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
3199000 usd
ofc Increase Decrease In Lease Incentives And Prepaid Expenses And Other Assets Net
IncreaseDecreaseInLeaseIncentivesAndPrepaidExpensesAndOtherAssetsNet
7646000 usd
us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
-5436000 usd
us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
-2502000 usd
ofc Increase Decrease In Advance Rent And Security Deposit Liability
IncreaseDecreaseInAdvanceRentAndSecurityDepositLiability
2047000 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
209636000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
187134000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
12337000 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
13262000 usd
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
4172000 usd
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
4054000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
16509000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17316000 usd
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
204238000 usd
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
12643000 usd
CY2023Q3 us-gaap Restricted Cash
RestrictedCash
1094000 usd
CY2022Q3 us-gaap Restricted Cash
RestrictedCash
3755000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
205332000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
16398000 usd
ofc Increase Decrease In Accrued Capital Improvements Leasing And Other Investing Activity Costs
IncreaseDecreaseInAccruedCapitalImprovementsLeasingAndOtherInvestingActivityCosts
-18931000 usd
ofc Increase Decrease In Accrued Capital Improvements Leasing And Other Investing Activity Costs
IncreaseDecreaseInAccruedCapitalImprovementsLeasingAndOtherInvestingActivityCosts
-21401000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
6714000 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 Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
434000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 usd
ofc Increasein Investmentin Unconsolidated Real Estate Joint Venturein Connection With Partial Saleof Properties
IncreaseinInvestmentinUnconsolidatedRealEstateJointVentureinConnectionWithPartialSaleofProperties
21121000 usd
ofc Increasein Investmentin Unconsolidated Real Estate Joint Venturein Connection With Partial Saleof Properties
IncreaseinInvestmentinUnconsolidatedRealEstateJointVentureinConnectionWithPartialSaleofProperties
0 usd
ofc Increase Decrease In Fair Value Of Derivatives Applied To Aocl And Noncontrolling Interests
IncreaseDecreaseInFairValueOfDerivativesAppliedToAoclAndNoncontrollingInterests
4105000 usd
ofc Increase Decrease In Fair Value Of Derivatives Applied To Aocl And Noncontrolling Interests
IncreaseDecreaseInFairValueOfDerivativesAppliedToAoclAndNoncontrollingInterests
5901000 usd
CY2023Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
32645000 usd
CY2022Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
31407000 usd
ofc Equity Change Adjustments To Additional Paid In Capital Reallocation Of Minority Interest
EquityChangeAdjustmentsToAdditionalPaidInCapitalReallocationOfMinorityInterest
-22000 usd
ofc Equity Change Adjustments To Additional Paid In Capital Reallocation Of Minority Interest
EquityChangeAdjustmentsToAdditionalPaidInCapitalReallocationOfMinorityInterest
77000 usd
us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
-1686000 usd
us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
-1342000 usd
ofc Reclassification Of Redeemable Noncontrolling Interests To Equity
ReclassificationOfRedeemableNoncontrollingInterestsToEquity
2670000 usd
ofc Reclassification Of Redeemable Noncontrolling Interests To Equity
ReclassificationOfRedeemableNoncontrollingInterestsToEquity
0 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%">COPT Defense Properties (“CDP”) and subsidiaries (collectively, the “Company”, “we” or “us”) is a fully-integrated and self-managed real estate investment trust (“REIT”) focused on owning, operating and developing properties in locations proximate to, or sometimes containing, key U.S. Government (“USG”) defense installations and missions (which we refer to herein as our Defense/IT Portfolio). Our tenants include the USG and their defense contractors, who are primarily engaged in priority national security activities, and who generally require mission-critical and high security property enhancements. In September 2023, we changed our name from Corporate Office Properties Trust to COPT Defense Properties to better describe our investment strategy’s focus on locations serving our country’s priority defense activities. As of September 30, 2023, our Defense/IT Portfolio included:</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 operating properties totaling 21.3 million square feet comprised of 15.8 million square feet in 159 office properties and 5.5 million square feet in 29 single-tenant data center shells. We owned 24 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">six properties under development (three office properties and three data center shells) that will total approximately 971,000 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 670 acres of land controlled that we believe could be developed into approximately 8.1 million square feet.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:112%">We also owned eight other operating properties totaling 2.1 million square feet and approximately 50 acres of other developable land in the Greater Washington, DC/Baltimore region as of September 30, 2023.</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, COPT Defense Properties, L.P. (“CDPLP”) and subsidiaries (collectively, the “Operating Partnership”), of which CDP is the sole general partner. CDPLP owns real estate directly and through subsidiary partnerships and limited liability companies (“LLCs”).  In addition to owning real estate, CDPLP 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”). In September 2023, we changed CDPLP’s name from Corporate Office Properties, L.P. to COPT Defense Properties, L.P.</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 CDPLP are in the form of common and preferred units. As of September 30, 2023, CDP owned 97.9% of the outstanding CDPLP common units (“common units”) and there were no preferred units outstanding. Common units not owned by CDP carry certain redemption rights. The number of common units owned by CDP is equivalent to the number of outstanding common shares of beneficial interest (“common shares”) of CDP, and the entitlement of common units to quarterly distributions and payments in liquidation is substantially the same as that of CDP common shareholders.</span></div>In September 2023, the ticker symbol under which our common shares are publicly traded on the New York Stock Exchange (“NYSE”) changed from “OFC” to “CDP”.
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.</span></div>
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CY2022Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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CY2022Q4 ofc Credit Losses Financial Assetsand Other Instruments Allowancefor Credit Loss
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ofc Credit Losses Financial Assetsand Other Instruments Allowancefor Credit Loss Expense Reversal
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ofc Credit Losses Financial Assets And Other Instruments Write Offs
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CY2023Q3 ofc Credit Losses Financial Assetsand Other Instruments Allowancefor Credit Loss
CreditLossesFinancialAssetsandOtherInstrumentsAllowanceforCreditLoss
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CY2021Q4 ofc Credit Losses Financial Assetsand Other Instruments Allowancefor Credit Loss
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ofc Credit Losses Financial Assetsand Other Instruments Allowancefor Credit Loss Expense Reversal
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CY2022Q3 ofc Credit Losses Financial Assetsand Other Instruments Allowancefor Credit Loss
CreditLossesFinancialAssetsandOtherInstrumentsAllowanceforCreditLoss
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CY2023Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
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IncomeLossFromContinuingOperations
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IncomeLossFromContinuingOperations
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us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
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us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
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CY2022Q3 us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Basic
NetIncomeLossFromContinuingOperationsAvailableToCommonShareholdersBasic
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us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Basic
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us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Basic
NetIncomeLossFromContinuingOperationsAvailableToCommonShareholdersBasic
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CY2023Q3 ofc Dilutive Securities Effecton Basic Earnings Per Share Dilutive Redeemable Noncontrolling Interests
DilutiveSecuritiesEffectonBasicEarningsPerShareDilutiveRedeemableNoncontrollingInterests
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AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
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CY2022Q3 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
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us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
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us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
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CY2023Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax
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CY2022Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
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us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
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us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
29573000 usd
CY2023Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
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IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
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IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
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IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
421000 usd
CY2023Q3 ofc Income Loss From Discontinued Operations Attributable To Share Based Compensation Awards For Diluted Eps
IncomeLossFromDiscontinuedOperationsAttributableToShareBasedCompensationAwardsForDilutedEPS
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CY2022Q3 ofc Income Loss From Discontinued Operations Attributable To Share Based Compensation Awards For Diluted Eps
IncomeLossFromDiscontinuedOperationsAttributableToShareBasedCompensationAwardsForDilutedEPS
0 usd
ofc Income Loss From Discontinued Operations Attributable To Share Based Compensation Awards For Diluted Eps
IncomeLossFromDiscontinuedOperationsAttributableToShareBasedCompensationAwardsForDilutedEPS
0 usd
ofc Income Loss From Discontinued Operations Attributable To Share Based Compensation Awards For Diluted Eps
IncomeLossFromDiscontinuedOperationsAttributableToShareBasedCompensationAwardsForDilutedEPS
-90000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
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CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
30806000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
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us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
122107000 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
112196000 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
112093000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
112170000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
112066000 shares
CY2023Q3 ofc Incremental Common Shares Attributableto Dilutive Effectof Redeemable Noncontrolling Interests
IncrementalCommonSharesAttributabletoDilutiveEffectofRedeemableNoncontrollingInterests
0 shares
CY2022Q3 ofc Incremental Common Shares Attributableto Dilutive Effectof Redeemable Noncontrolling Interests
IncrementalCommonSharesAttributabletoDilutiveEffectofRedeemableNoncontrollingInterests
105000 shares
ofc Incremental Common Shares Attributableto Dilutive Effectof Redeemable Noncontrolling Interests
IncrementalCommonSharesAttributabletoDilutiveEffectofRedeemableNoncontrollingInterests
0 shares
ofc Incremental Common Shares Attributableto Dilutive Effectof Redeemable Noncontrolling Interests
IncrementalCommonSharesAttributabletoDilutiveEffectofRedeemableNoncontrollingInterests
121000 shares
CY2023Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2022Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
433000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
429000 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
112196000 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
112631000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
112170000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
112616000 shares
CY2023Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-1.94
CY2022Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.28
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.96
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.83
CY2023Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0
CY2022Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.26
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.94
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.28
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.96
CY2023Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-1.94
CY2022Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.27
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.96
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.83
CY2023Q3 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
0
CY2022Q3 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
0
us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
0
us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
0.25
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.94
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.27
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.96
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.08
CY2023Q3 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
4300000 usd
CY2023Q3 ofc Property Subjectto Environmental Indemnity Numberof Properties
PropertySubjecttoEnvironmentalIndemnityNumberofProperties
3 property
CY2023Q3 ofc Maximum Additional Costs Agreed To Be Paid By The Entity Under Environmental Indemnification Agreement
MaximumAdditionalCostsAgreedToBePaidByTheEntityUnderEnvironmentalIndemnificationAgreement
19000000 usd
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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