XML 62 R23.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Earnings Per Share ("EPS") | 3 Months Ended
--- | ---
Mar. 31, 2013
Earnings Per Share [Abstract] |
Earnings Per Share ("EPS") | Earnings Per Share (“EPS”) We present both basic and diluted EPS. We compute basic EPS by dividing net income available to common shareholders allocable to unrestricted common shares under the two-class method by the weighted average number of unrestricted common shares outstanding during the period. Our computation of diluted EPS is similar except that:
• | the denominator is increased to include: (1) the weighted average number of potential additional common shares that would have been outstanding if securities that are convertible into our common shares were converted; and (2) the effect of dilutive potential common shares outstanding during the period attributable to share-based compensation using the treasury stock or if-converted methods; and
• | the numerator is adjusted to add back any changes in income or loss that would result from the assumed conversion into common shares that we added to the denominator.
Summaries of the numerator and denominator for purposes of basic and diluted EPS calculations are set forth below (in thousands, except per share data):
| For the Three Months Ended March 31,
| 2013 |  | 2012
Numerator: |  |  |
Income from continuing operations | $ | 9,137 |  |  | $ | 12,685 |
Gain on sales of real estate, net | 2,354 |  |  | — |
Preferred share dividends | (6,106 | ) |  | (4,025 | )
Income from continuing operations attributable to noncontrolling interests | (54 | ) |  | (97 | )
Income from continuing operations attributable to restricted shares | (118 | ) |  | (141 | )
Numerator for basic and diluted EPS from continuing operations attributable to COPT common shareholders | $ | 5,213 |  |  | $ | 8,422 |
Discontinued operations | 3,786 |  |  | (2,450 | )
Discontinued operations attributable to noncontrolling interests | (203 | ) |  | 157 |
Numerator for basic and diluted EPS on net income attributable to COPT common shareholders | $ | 8,796 |  |  | $ | 6,129 |
Denominator (all weighted averages): |  |  |
Denominator for basic EPS (common shares) | 81,397 |  |  | 71,458 |
Dilutive effect of share-based compensation awards | 52 |  |  | 44 |
Denominator for basic and diluted EPS | 81,449 |  |  | 71,502 |
Basic EPS: |  |  |
Income from continuing operations attributable to COPT common shareholders | $ | 0.06 |  |  | $ | 0.12 |
Discontinued operations attributable to COPT common shareholders | 0.05 |  |  | (0.03 | )
Net income attributable to COPT common shareholders | $ | 0.11 |  |  | $ | 0.09 |
Diluted EPS: |  |  |
Income from continuing operations attributable to COPT common shareholders | $ | 0.06 |  |  | $ | 0.12 |
Discontinued operations attributable to COPT common shareholders | 0.05 |  |  | (0.03 | )
Net income attributable to COPT common shareholders | $ | 0.11 |  |  | $ | 0.09 |
Our diluted EPS computations do not include the effects of the following securities since the conversions of such securities would increase diluted EPS for the respective periods (in thousands):
| Weighted Average Shares Excluded from Denominator
| For the Three Months Ended March 31,
| 2013 |  | 2012
Conversion of common units | 3,893 |  |  | 4,281 |
Conversion of convertible preferred units | 176 |  |  | 176 |
Conversion of convertible preferred shares | 434 |  |  | 434 |
The following share-based compensation securities were excluded from the computation of diluted EPS because their effect was antidilutive:
• | weighted average restricted shares for the three months ended March 31, 2013 and 2012 of 409,000 and 572,000, respectively; and
• | weighted average options for the three months ended March 31, 2013 and 2012 of 621,000 and 819,000, respectively.
As discussed in Note 7, we have outstanding senior notes that have an exchange settlement feature but did not affect our diluted EPS reported above since the weighted average closing price of our common shares during each of the periods was less than the exchange prices per common share applicable for such periods.

X
- Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=16381557&loc=d3e4984-109258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 40 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration