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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000950144-03-007942.txt : 20030624
<SEC-HEADER>0000950144-03-007942.hdr.sgml : 20030624
<ACCEPTANCE-DATETIME>20030624105700
ACCESSION NUMBER:		0000950144-03-007942
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20021231
ITEM INFORMATION:		Other events
ITEM INFORMATION:		Financial statements and exhibits
FILED AS OF DATE:		20030624

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COUSINS PROPERTIES INC
		CENTRAL INDEX KEY:			0000025232
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				580869052
		STATE OF INCORPORATION:			GA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-03576
		FILM NUMBER:		03754341

	BUSINESS ADDRESS:	
		STREET 1:		2500 WINDY RIDGE PKWY STE 1600
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30339-5683
		BUSINESS PHONE:		7709552200

	MAIL ADDRESS:	
		STREET 1:		2500 WINDY RIDGE PARKWAY
		STREET 2:		SUITE 1600
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30339-5683
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>g83493e8vk.txt
<DESCRIPTION>COUSINS PROPERTIES, INC.
<TEXT>
<PAGE>
                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                  ------------

                                    FORM 8-K

                                 CURRENT REPORT

                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

       Date of Report (Date of earliest event reported): December 31, 2002


                         Cousins Properties Incorporated
                         -------------------------------
             (Exact name of registrant as specified in its charter)


                                     Georgia
                                     -------
                 (State or other jurisdiction of incorporation)


                                     0-3576
                                     ------
                            (Commission File Number)


                                   58-0869052
                                   ----------
                      (IRS Employer Identification Number)


              2500 Windy Ridge Parkway, Atlanta, Georgia 30339-5683
              -----------------------------------------------------
                    (Address of principal executive offices)


       Registrant's telephone number, including area code: (770) 955-2200


                                 Not applicable
                                 --------------
          (Former Name or Former Address, if Changed Since Last Report)


<PAGE>
Item 5.  Other Events.

         Attached as Exhibit 99.1 and incorporated herein by reference is a
document setting forth (1) each non-GAAP financial measure appearing in the
Registrant's Annual Report on Form 10-K for the Fiscal Year Ended December 31,
2002, (2) for each non-GAAP measure, the most directly comparable GAAP measure,
and (3) for each non-GAAP measure, a reconciliation to such GAAP measure.

Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits.

         (a)  Financial Statements of Businesses Acquired.

                  None.

         (b)  Pro Forma Financial Information.

                  None.

         (c)  Exhibits.

                  The following exhibit is filed herewith:

<TABLE>
<CAPTION>
     Exhibit No.  Description
     -----------  -----------
     <S>          <C>
         99.1     Reconciliation of Non-GAAP Financial Measures Appearing in the
                  Registrant's Annual Report on Form 10-K for the Fiscal Year
                  Ended December 31, 2002
</TABLE>



<PAGE>
                                   Signatures


         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

Date:  June 24, 2003

                               COUSINS PROPERTIES INCORPORATED


                               By:  /s/ Tom G. Charlesworth
                                    -------------------------------------------
                                    Tom G. Charlesworth
                                    Executive Vice President, Chief Financial
                                    Officer and Chief Investment Officer
                                    (Duly Authorized Officer and Principal
                                    Financial Officer)


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>g83493exv99w1.txt
<DESCRIPTION>RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
<TEXT>
<PAGE>
                                                                    EXHIBIT 99.1



       RECONCILIATION OF NON-GAAP FINANCIAL MEASURES INCLUDED IN COUSINS
     PROPERTIES INCORPORATED ANNUAL REPORT ON FORM 10-K FOR THE FISCAL YEAR
                            ENDED DECEMBER 31, 2002



     RECONCILIATION OF ADJUSTED COST AND ADJUSTED COST LESS DEPRECIATION AND
   AMORTIZATION TO GAAP COST AND GAAP COST LESS DEPRECIATION AND AMORTIZATION
                                ($ IN THOUSANDS)


ANNUAL REPORT ON FORM 10-K, ITEM 2. PROPERTY TABLE, PAGES I-12 AND I-13

    Adjusted cost and adjusted cost less depreciation and amortization appearing
in the Property Table on Pages I-10 through I-20 are GAAP numbers with the
exception of the following, as disclosed in Note 1 to the Property Table:

<TABLE>
<CAPTION>

                                                       Adjusted cost and             GAAP               GAAP cost and
                                                       adjusted cost less      basis adjustment         GAAP cost less
                                                        depreciation and           for land            depreciation and
                                                        amortization (a)         contributed             amortization
                                                      ---------------------  ---------------------    -------------------
<S>                                                   <C>                    <C>                      <C>
2300 Windy Ridge Parkway                                   $ 79,829                $ 5,439               $ 85,268
                                                             41,539                  5,903                 47,442

2500 Windy Ridge Parkway                                     30,659                  2,687                 33,346
                                                             14,723                  2,917                 17,640

3200 Windy Hill Road                                         85,452                  6,041                 91,493
                                                             50,527                  6,542                 57,069

4100 and 4300 Wildwood Parkway                               26,596                  4,102                 30,698
                                                             19,773                  4,284                 24,057

4200 Wildwood Parkway                                        36,973                  2,530                 39,503
                                                             30,717                  2,720                 33,437

Wildwood Stand Alone Retail Lease Sites and Other             8,717                  4,034                 12,751
                                                              6,594                  4,034                 10,628
</TABLE>

(a)      The cost shown is what the cost would be if Wildwood Associates' land
         cost were adjusted downward to the Company's lower basis in the land it
         contributed to Wildwood Associates.

ANNUAL REPORT ON FORM 10-K, ITEM 2. LAND HELD FOR INVESTMENT OR
FUTURE DEVELOPMENT, PAGE I-30

    Adjusted costs appearing in the Table on Page I-30 are GAAP numbers with the
exception of the following, as disclosed in Note 2 to the Table:
<TABLE>
<CAPTION>

                                                                                     GAAP
                                                                               basis adjustment
                                                                                   for land
                                                       Adjusted cost (a)         contributed              GAAP cost
                                                      ---------------------  ---------------------    -------------------

<S>                                                   <C>                     <C>                      <C>
Wildwood Land                                                 $ 9,008               $ 12,487               $ 21,495
</TABLE>

(a)      For the portion of the Wildwood Office Park land owned by a joint
         venture, the cost shown is what the cost would be if Wildwood
         Associates' land cost were adjusted downward to the Company's lower
         basis in the land it contributed to Wildwood Associates.


<PAGE>
                 RECONCILIATION OF DEPRECIATION AND AMORTIZATION
                                ($ IN THOUSANDS)


ANNUAL REPORT ON FORM 10-K, ITEM 2. SUPPLEMENTAL FINANCIAL AND LEASING
INFORMATION, PAGE I-32


<TABLE>
<CAPTION>

                                                            2002                                      2001
                                          ------------------------------------------  ---------------------------------------------
                                                            Share of                                     Share of
                                                          Unconsolidated                              Unconsolidated
                                          Consolidated   Joint Ventures (a)    Total   Consolidated  Joint Ventures (a)     Total
                                          ------------   ------------------    -----   ------------  ------------------    --------
<S>                                       <C>            <C>                 <C>       <C>           <C>                   <C>
Furniture, fixtures and equipment           $  2,122       $      9          $  2,131    $  1,485       $     52           $  1,537
Goodwill and specifically
   identifiable intangible assets                 26             --                26         681             --                681
Building (including tenant first
  generation)                                 50,370         17,305            67,675      38,727         15,357             54,084
Tenant second generation                       2,327            777             3,104       3,964            744              4,708
                                            -----------------------------------------    ------------------------------------------

Total depreciation and amortization
  (reported on page I-32 of Form 10-K)        54,845         18,091            72,936      44,857         16,153             61,010

Depreciation on Company's
  investment in joint venture (a)               (458)       (18,091)          (18,549)       (301)       (16,153)           (16,454)
Minority interests' share of
  depreciation and amortization                   --             --                --          96             --                 96
Depreciation and amortization -
  discontinued operations                       (139)                            (139)       (199)                             (199)
                                            -----------------------------------------    ------------------------------------------

Depreciation and amortization -
  continuing operations (reported on
  Consolidated Statements of Income)        $ 54,248       $     --          $ 54,248    $ 44,453       $     --           $ 44,453
                                            =========================================    ==========================================
</TABLE>

(a)      Included in Income from Unconsolidated Joint Ventures in the
         Consolidated Statements of Income


<PAGE>
                     RECONCILIATION OF CAPITAL EXPENDITURES
                                ($ IN THOUSANDS)


ANNUAL REPORT ON FORM 10-K, ITEM 2. SUPPLEMENTAL FINANCIAL AND LEASING
INFORMATION, PAGE I-32

<TABLE>
<CAPTION>
                                                                    2002            2001
                                                                  ---------       --------
<S>                                                               <C>             <C>
Second generation related costs                                   $ 11,804        $  3,582
Building improvements                                                1,184           2,491
                                                                  --------        --------

     Total capital expenditures (as reported on page I-32)          12,988           6,073

First generation costs                                              75,000         134,273
                                                                  --------        --------

     Total capital expenditures per Cash Flow Statement           $ 87,988        $140,346
                                                                  ========        ========
</TABLE>


<PAGE>
                        RECONCILIATION OF NOTES PAYABLE
                                ($ IN THOUSANDS)


ANNUAL REPORT TO SHAREHOLDERS, INCORPORATED BY REFERENCE INTO ANNUAL REPORT ON
FORM 10-K MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK,
PAGE 57

<TABLE>
<CAPTION>
                                                                                                                        Fair
                              2003          2004         2005       2006       2007     Thereafter       Total          Value
                            ------------------------------------------------------------------------------------------------------
NOTES PAYABLE
<S>                        <C>           <C>           <C>       <C>          <C>          <C>           <C>            <C>
Total as Reported(NON-GAAP)
  Fixed Rate               $  17,492     $  18,716     $ 84,875  $ 18,629     $ 86,308     $ 542,767     $  768,787     $821,866
  Average Interest Rate         7.29%         7.24%        7.58%     6.94%        8.00%         7.34%          7.42%

  Variable Rate            $   1,100     $ 161,297     $  1,117  $  1,148     $  1,179     $   1,018     $  166,859     $166,859
  Average Interest Rate         2.13%         2.83%        2.13%     2.13%        2.13%         2.13%          2.81%

Unconsolidated Joint Ventures (CPI's Share)
  Fixed Rate               $   9,261     $  10,059     $ 47,840  $  9,589     $ 38,375     $ 144,125     $  259,249     $273,610
  Average Interest Rate         7.03%         7.03%        7.47%     6.91%        7.85%         6.86%          7.13%

  Variable Rate            $   1,057     $   1,087     $  1,117  $  1,148     $  1,179     $   1,018     $    6,606     $  6,606
  Average Interest Rate         2.13%         2.13%        2.13%     2.13%        2.13%         2.13%          2.13%

Consolidated Entities(GAAP)
  Fixed Rate               $   8,231     $   8,657     $ 37,035  $  9,040     $ 47,933     $ 398,642     $  509,538     $548,256
  Average Interest Rate         7.59%         7.49%        7.71%     6.97%        8.09%         7.51%          7.57%

  Variable Rate            $      43     $ 160,210     $   --    $   --       $   --       $    --       $  160,253     $160,253
  Average Interest Rate         5.25%         2.84%        0.00%     0.00%        0.00%         0.00%          2.84%
</TABLE>



</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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