XML 90 R67.htm IDEA: XBRL DOCUMENT
v3.20.1

Interest Rate Derivatives (Details) - USD ($) $ in Thousands | 3 Months Ended |
--- | --- | ---
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019
Effect of interest rate derivatives on consolidated statements of operations and comprehensive income |  |  |
Amount of Loss Recognized in AOCL on Derivatives | $ (37,705) | $ (8,845) |
Amount of (Loss) Gain Reclassified from AOCL into Interest Expense on Statement of Operations | (131) | 570 |
Interest rate swaps | Interest Expense |  |  |
Effect of interest rate derivatives on consolidated statements of operations and comprehensive income |  |  |
Amount of (Loss) Gain Reclassified from AOCL into Interest Expense on Statement of Operations | (131) | $ 570 |
Interest rate swaps | Prepaid expenses and other assets, net |  |  |
Fair value of interest rate derivatives and balance sheet classification |  |  |
Interest rate swaps designated as cash flow hedges | 0 |  | $ 23
Interest rate swaps | Interest rate derivatives (liabilities) |  |  |
Fair value of interest rate derivatives and balance sheet classification |  |  |
Interest rate swaps designated as cash flow hedges | (63,232) |  | (25,682)
Designated |  |  |
Fair values of interest rate swap derivatives |  |  |
Fair value of interest rate swaps | (63,232) |  | (25,659)
Designated | Interest rate swaps |  |  |
Effect of interest rate derivatives on consolidated statements of operations and comprehensive income |  |  |
Approximate amount to be reclassified from AOCL to interest expense over the next 12 months | 6,000 |  |
Fair value of derivative liability | 63,400 |  |
Settlement amount of derivative obligation at termination value | 63,500 |  |
Designated | Interest rate swap, effective October 13, 2015 |  |  |
Fair values of interest rate swap derivatives |  |  |
Notional Amount | $ 12,336 |  |
Fixed Rate | 1.39% |  |
Fair value of interest rate swaps | $ (57) |  | 23
Notional amount of interest rate derivatives after scheduled amortization | 12,100 |  |
Designated | Interest rate swap, effective September 1, 2016, swap one |  |  |
Fair values of interest rate swap derivatives |  |  |
Notional Amount | $ 100,000 |  |
Fixed Rate | 1.901% |  |
Fair value of interest rate swaps | $ (4,297) |  | (1,028)
Designated | Interest rate swap, effective September 1, 2016, swap two |  |  |
Fair values of interest rate swap derivatives |  |  |
Notional Amount | $ 100,000 |  |
Fixed Rate | 1.905% |  |
Fair value of interest rate swaps | $ (4,307) |  | (1,037)
Designated | Interest rate swap, effective September 1, 2016, swap three |  |  |
Fair values of interest rate swap derivatives |  |  |
Notional Amount | $ 50,000 |  |
Fixed Rate | 1.908% |  |
Fair value of interest rate swaps | $ (2,157) |  | (524)
Designated | Interest rate swap, effective August 1, 2019 |  |  |
Fair values of interest rate swap derivatives |  |  |
Notional Amount | $ 11,200 |  |
Fixed Rate | 1.678% |  |
Fair value of interest rate swaps | $ (778) |  | (20)
Notional amount of interest rate derivatives after scheduled amortization | 10,000 |  |
Designated | Interest rate swap, effective April 1, 2020, swap one |  |  |
Fair values of interest rate swap derivatives |  |  |
Notional Amount | $ 150,000 |  |
Fixed Rate | 0.498% |  |
Fair value of interest rate swaps | $ (125) |  | 0
Designated | Interest rate swap, effective April 1, 2020, swap two |  |  |
Fair values of interest rate swap derivatives |  |  |
Notional Amount | $ 23,000 |  |
Fixed Rate | 0.573% |  |
Fair value of interest rate swaps | $ (174) |  | 0
Notional amount of interest rate derivatives after scheduled amortization | 22,100 |  |
Designated | Interest rate swap, effective June 30, 2020, swap one |  |  |
Fair values of interest rate swap derivatives |  |  |
Notional Amount | $ 75,000 |  |
Fixed Rate | 3.176% |  |
Fair value of interest rate swaps | $ (18,132) |  | (8,640)
Designated | Interest rate swap, effective June 30, 2020, swap two |  |  |
Fair values of interest rate swap derivatives |  |  |
Notional Amount | $ 75,000 |  |
Fixed Rate | 3.192% |  |
Fair value of interest rate swaps | $ (18,249) |  | (8,749)
Designated | Interest rate swap, effective June 30, 2020, swap three |  |  |
Fair values of interest rate swap derivatives |  |  |
Notional Amount | $ 75,000 |  |
Fixed Rate | 2.744% |  |
Fair value of interest rate swaps | $ (14,956) |  | $ (5,684)

X
- Definition Represents the notional amount of interest rate derivatives after scheduled amortization. + References No definition available. + Details
Name: | ofc_InterestRateCashFlowHedgeDerivativeNotionalAmountafterScheduledAmortization
Namespace Prefix: | ofc_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition The aggregate fair value of assets needed to immediately settle the derivative instruments with credit-risk-related contingent features if the credit-risk-related contingent features were triggered at the end of the reporting period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4H -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624258-113959 + Details
Name: | us-gaap_AssetsNeededForImmediateSettlementAggregateFairValue
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- References No definition available. + Details
Name: | us-gaap_DerivativeAssetsLiabilitiesAtFairValueNetByBalanceSheetClassificationAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Fair value, before effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities elected not to be offset. Excludes liabilities not subject to a master netting arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 4D -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=118948506&loc=SL51823488-111719 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Subparagraph (a),(c) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 55 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=99393222&loc=SL20226000-175313 + Details
Name: | us-gaap_DerivativeFairValueOfDerivativeLiability
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Fixed interest rate related to the interest rate derivative. + References No definition available. + Details
Name: | us-gaap_DerivativeFixedInterestRate
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_DerivativeLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Nominal or face amount used to calculate payment on derivative. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5580258-113959 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579245-113959 + Details
Name: | us-gaap_DerivativeNotionalAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | na
Period Type: | instant

X
- Definition Fair value as of the balance sheet date of all interest rate derivative assets designated as cash flow hedging instruments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959 + Details
Name: | us-gaap_InterestRateCashFlowHedgeAssetAtFairValue
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition The estimated net amount of unrealized gains or losses on interest rate cash flow hedges as of the balance sheet date expected to be reclassified to earnings within the next twelve months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=112277219&loc=d3e80748-113994 + Details
Name: | us-gaap_InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Fair value as of the balance sheet date of all interest rate derivative liabilities designated as cash flow hedging instruments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959 + Details
Name: | us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Fair value as of the balance sheet date of interest rate derivative assets, net of interest rate derivative liabilities, which includes all such derivative instruments in hedging and nonhedging relationships that are recognized on the balance sheet. + References No definition available. + Details
Name: | us-gaap_InterestRateDerivativesAtFairValueNet
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amount, after tax and before reclassification, of gain (loss) from derivative instrument designated and qualifying as cash flow hedge included in assessment of hedge effectiveness. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 10A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669646-108580 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=118930883&loc=d3e637-108580 + Details
Name: | us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount, after tax, of reclassification of gain (loss) from accumulated other comprehensive income (AOCI) for derivative instrument designated and qualifying as cash flow hedge included in assessment of hedge effectiveness. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=118930883&loc=d3e689-108580 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=118930883&loc=d3e637-108580 + Details
Name: | us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SummaryOfDerivativeInstrumentsImpactOnResultsOfOperationsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_DerivativeInstrumentRiskAxis=us-gaap_InterestRateSwapMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_IncomeStatementLocationAxis=us-gaap_InterestExpenseMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_BalanceSheetLocationAxis=ofc_PrepaidExpensesandOtherAssetsNetMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_BalanceSheetLocationAxis=ofc_InterestRateDerivativeLiabilitiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DerivativeInstrumentRiskAxis=ofc_InterestRateSwapEffectiveOctober132015Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DerivativeInstrumentRiskAxis=ofc_InterestRateSwapEffectiveSeptember12016OneMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DerivativeInstrumentRiskAxis=ofc_InterestRateSwapEffectiveSeptember12016TwoMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DerivativeInstrumentRiskAxis=ofc_InterestRateSwapEffectiveSeptember12016ThreeMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DerivativeInstrumentRiskAxis=ofc_InterestRateSwapEffectiveAugust12019Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DerivativeInstrumentRiskAxis=ofc_InterestRateSwapEffectiveApril20200.498Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DerivativeInstrumentRiskAxis=ofc_InterestRateSwapEffectiveApril20200.573Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DerivativeInstrumentRiskAxis=ofc_InterestRateSwapEffectiveJune302020OneMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DerivativeInstrumentRiskAxis=ofc_InterestRateSwapEffectiveJune302020TwoMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DerivativeInstrumentRiskAxis=ofc_InterestRateSwapEffectiveJune302020ThreeMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |