XML 102 R30.htm IDEA: XBRL DOCUMENT
v3.20.1

Leases (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2020
Leases [Abstract] |
Operating Lease Revenue Recognized | The table below sets forth our allocation of lease revenue recognized between fixed and variable lease revenue (in thousands):
|  | For the Three Months Ended March 31,
Lease revenue |  | 2020 |  | 2019
Fixed |  | $ | 104,109 |  |  | $ | 104,644 |
Variable |  | 26,903 |  |  | 26,259 |
|  | $ | 131,012 |  |  | $ | 130,903 |
Fixed Contractual Payments Due | Fixed contractual payments due under our property leases were as follows (in thousands):
Year Ending December 31, |  | March 31, 2020 |  | December 31, 2019
2020 (1) |  | $ | 301,914 |  |  | $ | 388,310 |
2021 |  | 357,747 |  |  | 336,482 |
2022 |  | 319,239 |  |  | 299,356 |
2023 |  | 264,865 |  |  | 245,661 |
2024 |  | 214,797 |  |  | 195,246 |
Thereafter |  | 548,049 |  |  | 474,741 |
|  | $ | 2,006,611 |  |  | $ | 1,939,796 |
(1) As of March 31, 2020, represents the nine months ending December 31, 2020
Right-of-Use Assets and Lease Liabilities | Our right-of-use assets consisted of the following (in thousands):
Leases |  | Balance Sheet Location |  | March 31, 2020 |  | December 31, 2019
Right-of-use assets |  |  |  |  |  |
Operating leases - Property |  | Property - operating right-of-use assets |  | $ | 27,793 |  |  | $ | 27,864 |
Finance leases - Property |  | Property - finance right-of-use assets |  | 40,450 |  |  | 40,458 |
Total right-of-use assets |  |  |  | $ | 68,243 |  |  | $ | 68,322 |
Lease liabilities consisted of the following (in thousands):
Leases |  | Balance Sheet Location |  | March 31, 2020 |  | December 31, 2019
Lease liabilities |  |  |  |  |  |
Operating leases - Property |  | Property - operating lease liabilities |  | $ | 17,365 |  |  | $ | 17,317 |
Finance leases - Property |  | Other liabilities |  | 702 |  |  | 702 |
Total lease liabilities |  |  |  | $ | 18,067 |  |  | $ | 18,019 |
Lease Costs | The table below sets forth the weighted average terms and discount rates of our leases as of March 31, 2020:
Weighted average remaining lease term |  |
Operating leases |  | 68 years |
Finance leases |  | < 1 year |
Weighted average discount rate |  |
Operating leases |  | 7.33 | %
Finance leases |  | 3.62 | %
The table below presents our total lease cost (in thousands):
|  |  |  | For the Three Months Ended March 31,
Lease cost |  | Statement of Operations Location |  | 2020 |  | 2019
Operating lease cost |  |  |  |  |  |
Property leases |  | Property operating expenses |  | $ | 431 |  |  | $ | 413 |
Finance lease cost |  |  |  |  |  |
Amortization of property right-of-use assets |  | Property operating expenses |  | 9 |  |  | — |
|  |  |  | $ | 440 |  |  | $ | 413 |
The table below presents the effect of lease payments on our consolidated statements of cash flows (in thousands):
|  | For the Three Months Ended March 31,
Supplemental cash flow information |  | 2020 |  | 2019
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
Operating cash flows for operating leases |  | $ | 311 |  |  | $ | 228 |
Financing cash flows for financing leases |  | $ | — |  |  | $ | 52 |
Finance Lease, Liability, Maturity | Payments on leases as of March 31, 2020 and December 31, 2019 were due as follows (in thousands):
|  | As of March 31, 2020 |  | As of December 31, 2019
Year Ending December 31, |  | Operating leases |  | Finance leases |  | Total |  | Operating leases |  | Finance leases |  | Total
2020 (1) |  | $ | 826 |  |  | $ | 674 |  |  | $ | 1,500 |  |  | $ | 1,092 |  |  | $ | 674 |  |  | $ | 1,766 |
2021 |  | 1,138 |  |  | 14 |  |  | 1,152 |  |  | 1,138 |  |  | 14 |  |  | 1,152 |
2022 |  | 1,162 |  |  | 14 |  |  | 1,176 |  |  | 1,162 |  |  | 14 |  |  | 1,176 |
2023 |  | 1,167 |  |  | — |  |  | 1,167 |  |  | 1,167 |  |  | — |  |  | 1,167 |
2024 |  | 1,173 |  |  | — |  |  | 1,173 |  |  | 1,173 |  |  | — |  |  | 1,173 |
Thereafter |  | 100,609 |  |  | — |  |  | 100,609 |  |  | 100,609 |  |  | — |  |  | 100,609 |
Total lease payments |  | 106,075 |  |  | 702 |  |  | 106,777 |  |  | 106,341 |  |  | 702 |  |  | 107,043 |
Less: Amount representing interest |  | (88,710 | ) |  | — |  |  | (88,710 | ) |  | (89,024 | ) |  | — |  |  | (89,024 | )
Lease liability |  | $ | 17,365 |  |  | $ | 702 |  |  | $ | 18,067 |  |  | $ | 17,317 |  |  | $ | 702 |  |  | $ | 18,019 |
(1) As of March 31, 2020, represents the nine months ending December 31, 2020.
Lessee, Operating Lease, Liability, Maturity |
|  | As of March 31, 2020 |  | As of December 31, 2019
Year Ending December 31, |  | Operating leases |  | Finance leases |  | Total |  | Operating leases |  | Finance leases |  | Total
2020 (1) |  | $ | 826 |  |  | $ | 674 |  |  | $ | 1,500 |  |  | $ | 1,092 |  |  | $ | 674 |  |  | $ | 1,766 |
2021 |  | 1,138 |  |  | 14 |  |  | 1,152 |  |  | 1,138 |  |  | 14 |  |  | 1,152 |
2022 |  | 1,162 |  |  | 14 |  |  | 1,176 |  |  | 1,162 |  |  | 14 |  |  | 1,176 |
2023 |  | 1,167 |  |  | — |  |  | 1,167 |  |  | 1,167 |  |  | — |  |  | 1,167 |
2024 |  | 1,173 |  |  | — |  |  | 1,173 |  |  | 1,173 |  |  | — |  |  | 1,173 |
Thereafter |  | 100,609 |  |  | — |  |  | 100,609 |  |  | 100,609 |  |  | — |  |  | 100,609 |
Total lease payments |  | 106,075 |  |  | 702 |  |  | 106,777 |  |  | 106,341 |  |  | 702 |  |  | 107,043 |
Less: Amount representing interest |  | (88,710 | ) |  | — |  |  | (88,710 | ) |  | (89,024 | ) |  | — |  |  | (89,024 | )
Lease liability |  | $ | 17,365 |  |  | $ | 702 |  |  | $ | 18,067 |  |  | $ | 17,317 |  |  | $ | 702 |  |  | $ | 18,019 |
(1) As of March 31, 2020, represents the nine months ending December 31, 2020.

X
- Definition Right-of-Use Assets and Lease Liabilities [Table Text Block] + References No definition available. + Details
Name: | ofc_RightofUseAssetsandLeaseLiabilitiesTableTextBlock
Namespace Prefix: | ofc_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
Name: | us-gaap_FinanceLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details
Name: | us-gaap_LeaseCostTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
Name: | us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturity of undiscounted cash flows to be received by lessor on annual basis for operating lease. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=119202524&loc=SL77919396-209981 + Details
Name: | us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of components of income from operating lease. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=119202524&loc=SL77919372-209981 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 6A -URI http://asc.fasb.org/extlink&oid=118952077&loc=SL77927221-108306 + Details
Name: | us-gaap_OperatingLeaseLeaseIncomeTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration