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Fair Value Measurements (Tables) | 9 Months Ended
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Sep. 30, 2013
Fair Value Disclosures [Abstract] |
Schedule of fair value assets and liabilities measured on recurring basis | The table below sets forth financial assets and liabilities of COPT and its subsidiaries that are accounted for at fair value on a recurring basis as of September 30, 2013 and the hierarchy level of inputs used in measuring their respective fair values under applicable accounting standards (in thousands):
Description |  | Quoted Prices in Active Markets for Identical Assets(Level 1) |  | Significant Other Observable Inputs(Level 2) |  | Significant Unobservable Inputs(Level 3) |  | Total
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Marketable securities in deferred compensation plan (1) |  |  |  |  |  |  |  |  |  |  |  |
Mutual funds |  | $ | 6,753 |  |  | $ | — |  |  | $ | — |  |  | $ | 6,753 |
Common stocks |  | 217 |  |  | — |  |  | — |  |  | 217 |
Other |  | 211 |  |  | — |  |  | — |  |  | 211 |
Common stock (1) |  | 520 |  |  | — |  |  | — |  |  | 520 |
Interest rate derivatives (2) |  | — |  |  | 5,195 |  |  | — |  |  | 5,195 |
Warrants to purchase common stock (2) |  | — |  |  | 301 |  |  | — |  |  | 301 |
Total Assets |  | $ | 7,701 |  |  | $ | 5,496 |  |  | $ | — |  |  | $ | 13,197 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Deferred compensation plan liability (3) |  | $ | 7,181 |  |  | $ | — |  |  | $ | — |  |  | $ | 7,181 |
Interest rate derivatives |  | — |  |  | 3,595 |  |  | — |  |  | 3,595 |
Total Liabilities |  | $ | 7,181 |  |  | $ | 3,595 |  |  | $ | — |  |  | $ | 10,776 |
Redeemable noncontrolling interest |  | $ | — |  |  | $ | — |  |  | $ | 16,789 |  |  | $ | 16,789 |
(1) Included in the line entitled “restricted cash and marketable securities” on COPT’s consolidated balance sheet. (2) Included in the line entitled “prepaid expenses and other assets” on COPT’s consolidated balance sheet. (3) Included in the line entitled “other liabilities” on COPT’s consolidated balance sheet. The table below sets forth financial assets and liabilities of COPLP and its subsidiaries that are accounted for at fair value on a recurring basis as of September 30, 2013 and the hierarchy level of inputs used in measuring their respective fair values under applicable accounting standards (in thousands):
Description |  | Quoted Prices in Active Markets for Identical Assets(Level 1) |  | Significant Other Observable Inputs(Level 2) |  | Significant Unobservable Inputs(Level 3) |  | Total
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Common stock (1) |  | $ | 520 |  |  | $ | — |  |  | $ | — |  |  | $ | 520 |
Interest rate derivatives (2) |  | — |  |  | 5,195 |  |  | — |  |  | 5,195 |
Warrants to purchase common stock (2) |  | — |  |  | 301 |  |  | — |  |  | 301 |
Total Assets |  | $ | 520 |  |  | $ | 5,496 |  |  | $ | — |  |  | $ | 6,016 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate derivatives |  | $ | — |  |  | $ | 3,595 |  |  | $ | — |  |  | $ | 3,595 |
Redeemable noncontrolling interest |  | $ | — |  |  | $ | — |  |  | $ | 16,789 |  |  | $ | 16,789 |
(1) Included in the line entitled “restricted cash and marketable securities” on COPLP’s consolidated balance sheet. (2) Included in the line entitled “prepaid expenses and other assets” on COPLP’s consolidated balance sheet.
Schedule of fair value hierarchy of impaired properties and other assets associated with such properties | The table below sets forth the fair value hierarchy of the valuation techniques used by us in determining such fair values (dollars in thousands):
|  | Quoted Prices in |  |  |  | Significant |  |  |  | Impairment Losses Recognized (1)
|  | Active Markets for |  | Significant Other |  | Unobservable |  |  |  | Three Months |  | Nine Months
|  | Identical Assets |  | Observable Inputs |  | Inputs |  |  |  | Ended |  | Ended
Description |  | (Level 1) |  | (Level 2) |  | (Level 3) |  | Total |  | September 30, 2012 |  | September 30, 2012
Assets (2): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Properties, net |  | $ | — |  |  | $ | — |  |  | $ | 369,312 |  |  | $ | 369,312 |  |  | $ | 52,900 |  |  | 60,593 |
(1) Represents impairment losses, excluding exit costs incurred of $2.9 million for the three months ended September 30, 2012 and $4.2 million for the nine months ended September 30, 2012. (2) Reflects balance sheet classifications of assets at time of fair value measurement, excluding the effect of held for sale classifications. The table below sets forth the fair value hierarchy of the valuation technique used by us in determining the fair value of the properties (dollars in thousands):
|  | Quoted Prices in |  |  |  | Significant |  |  |  | Impairment Losses Recognized (1)
|  | Active Markets for |  | Significant Other |  | Unobservable |  |  |  | Three Months |  | Nine Months
|  | Identical Assets |  | Observable Inputs |  | Inputs |  |  |  | Ended |  | Ended
Description |  | (Level 1) |  | (Level 2) |  | (Level 3) |  | Total |  | September 30, 2013 |  | September 30, 2013
Assets (2): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Properties, net |  | $ | — |  |  | $ | — |  |  | $ | 245,535 |  |  | $ | 245,535 |  |  | $ | 21,888 |  |  | $ | 30,940 |
(1) Represents impairment losses, excluding exit costs incurred of $186,000 for the three months and nine months ended September 30, 2013. (2) Reflects balance sheet classifications of assets at time of fair value measurement, excluding the effect of held for sale classifications.
Schedule of quantitative information about significant unobservable inputs used for Level 3 fair value measurements | The table below sets forth quantitative information about significant unobservable inputs used for the Level 3 fair value measurements reported above (dollars in thousands):
Description |  | Fair Value on Measurement Date |  | Valuation Technique |  | Unobservable Input |  | Range (Weighted Average)
Properties on which impairment losses were recognized |  | $ | 369,312 |  |  | Bid for properties indicative of value |  | Indicative bid (1) |  | (1)
|  |  |  | Contract of sale |  | Contract price (1) |  | (1)
|  |  |  | Discounted cash flow |  | Discount rate |  | 10.1% to 11.0% (10.4%)
|  |  |  |  |  | Terminal capitalization rate |  | 8.7% to 10.0% (8.9%)
|  |  |  |  |  | Market rent growth rate |  | 3.0% (2)
|  |  |  |  |  | Expense growth rate |  | 3.0% (2)
|  |  |  | Yield Analysis |  | Yield |  | 12% (2)
|  |  |  |  |  | Market rent rate |  | $8.50 per square foot(2)
|  |  |  |  |  | Leasing costs |  | $20.00 per square foot (2)
(1) These fair value measurements were developed as a result of negotiations between us and potential, or actual, purchasers of properties. (2) Only one value applied for this unobservable input. The table below sets forth quantitative information about significant unobservable inputs used for the Level 3 fair value measurements reported above (dollars in thousands):
Description |  | Fair Value on Measurement Date |  | Valuation Technique |  | Unobservable Input |  | Range (Weighted Average)
Properties on which impairment losses were recognized |  | $ | 245,535 |  |  | Bids for property indicative of value |  | Indicative bids (1) |  | (1)
|  |  |  | Contract of sale |  | Contract price (1) |  | (1)
|  |  |  | Discounted cash flow |  | Discount rate |  | 10.0% to 11.0% (10.9%)
|  |  |  |  |  | Terminal capitalization rate |  | 9.5% to 10.0% (9.7%)
|  |  |  |  |  | Market rent growth rate |  | 3.0% (2)
|  |  |  |  |  | Expense growth rate |  | 3.0% (2)
(1) These fair value measurements were developed as a result of negotiations between us and potential, or actual, purchasers of properties. (2) Only one value applied for this unobservable input.

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- Definition Tabular disclosure of quantitative information about the inputs used in the fair value measurement of assets and liabilities. This disclosure may include, but is not limited to, the fair value of the asset and liabilities, valuation technique used to measure the fair value, the inputs used to measure fair value, the ranges of the inputs and the weighted averages of the inputs. + References No definition available. + Details
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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19296-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19190-110258 + Details
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