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Information by Business Segment (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Schedule of segment financial information for real estate operations

The table below reports segment financial information for our reportable segments (in thousands):

			Operating Property Segments
			Defense/Information Technology Locations
			Fort Meade/BW Corridor						Northern Virginia Defense/IT						Lackland Air Force Base						Navy Support Locations						Redstone Arsenal						Data Center Shells						Total Defense/IT Locations						Regional Office												Operating Wholesale Data Center						Other						Total
Year Ended December 31, 2020
Revenues from real estate operations			$	254,197					$	57,817					$	50,982					$	32,869					$	22,515					$	29,139					$	447,519					$	60,627											$	27,788					$	2,791					$	538,725
Property operating expenses			(85,032)						(21,321)						(29,055)						(12,655)						(8,119)						(3,195)						(159,377)						(29,144)												(14,171)						(1,148)						(203,840)
UJV NOI allocable to COPT			—						—						—						—						—						6,951						6,951						—												—						—						6,951
NOI from real estate operations			$	169,165					$	36,496					$	21,927					$	20,214					$	14,396					$	32,895					$	295,093					$	31,483											$	13,617					$	1,643					$	341,836
Additions to long-lived assets			$	31,295					$	11,620					$	—					$	7,104					$	2,905					$	—					$	52,924					$	17,232											$	11,158					$	165					$	81,479
Transfers from non-operating properties			$	21,859					$	2,557					$	456					$	—					$	138,122					$	230,277					$	393,271					$	83,091											$	—					$	—					$	476,362
Segment assets at December 31, 2020			$	1,277,849					$	392,714					$	142,137					$	178,897					$	281,386					$	419,929					$	2,692,912					$	490,422											$	202,089					$	3,555					$	3,388,978
Year Ended December 31, 2019
Revenues from real estate operations			$	252,781					$	55,742					$	51,140					$	32,659					$	16,593					$	26,571					$	435,486					$	59,611											$	29,405					$	2,961					$	527,463
Property operating expenses			(82,815)						(19,779)						(29,042)						(13,579)						(6,626)						(1,962)						(153,803)						(29,682)												(13,213)						(1,445)						(198,143)
UJV NOI allocable to COPT			—						—						—						—						—						5,705						5,705						—												—						—						5,705
NOI from real estate operations			$	169,966					$	35,963					$	22,098					$	19,080					$	9,967					$	30,314					$	287,388					$	29,929											$	16,192					$	1,516					$	335,025
Additions to long-lived assets			$	34,618					$	9,326					$	—					$	8,912					$	1,548					$	—					$	54,404					$	20,925											$	893					$	128					$	76,350
Transfers from non-operating properties			$	18,606					$	4,548					$	10,781					$	—					$	33,606					$	159,472					$	227,013					$	—											$	(1,012)					$	—					$	226,001
Segment assets at December 31, 2019			$	1,280,656					$	396,914					$	146,592					$	184,257					$	138,501					$	279,099					$	2,426,019					$	392,319											$	202,935					$	3,685					$	3,024,958
Year Ended December 31, 2018
Revenues from real estate operations			$	248,927					$	53,518					$	46,286					$	31,927					$	14,745					$	25,650					$	421,053					$	61,181											$	31,892					$	3,127					$	517,253
Property operating expenses			(82,975)						(20,330)						(26,888)						(13,536)						(6,050)						(3,225)						(153,004)						(30,253)												(16,342)						(1,436)						(201,035)
UJV NOI allocable to COPT			—						—						—						—						—						4,818						4,818						—												—						—						4,818
NOI from real estate operations			$	165,952					$	33,188					$	19,398					$	18,391					$	8,695					$	27,243					$	272,867					$	30,928											$	15,550					$	1,691					$	321,036
Additions to long-lived assets			$	38,612					$	7,956					$	—					$	6,535					$	573					$	—					$	53,676					$	19,730											$	856					$	480					$	74,742
Transfers from non-operating properties			$	35,648					$	10,231					$	14,718					$	(116)					$	4,167					$	99,191					$	163,839					$	—											$	2,304					$	—					$	166,143
Segment assets at December 31, 2018			$	1,279,571					$	399,339					$	139,731					$	188,911					$	108,010					$	353,165					$	2,468,727					$	395,380											$	216,640					$	4,115					$	3,084,862

Schedule of reconciliation of segment revenues to total revenues

The following table reconciles our segment revenues to total revenues as reported on our consolidated statements of operations (in thousands):

						For the Years Ended December 31,
						2020						2019						2018
Segment revenues from real estate operations						$	538,725					$	527,463					$	517,253
Construction contract and other service revenues						70,640						113,763						60,859
Total revenues						$	609,365					$	641,226					$	578,112

Reconciliation of UJV NOI allocable to COPT to equity in income of unconsolidated entities

The following table reconciles UJV NOI allocable to COPT to equity in income of unconsolidated entities as reported on our consolidated statements of operations (in thousands):

						For the Years Ended December 31,
						2020						2019						2018
UJV NOI allocable to COPT						$	6,951					$	5,705					$	4,818
Less: Income from UJV allocable to COPT attributable to depreciation and amortization expense and interest expense						(5,120)						(4,065)						(3,314)
Add: Equity in (loss) income of unconsolidated non-real estate entities						(6)						(7)						1,193
Equity in income of unconsolidated entities						$	1,825					$	1,633					$	2,697

Schedule of computation of net operating income from service operations

The table below sets forth the computation of our NOI from service operations (in thousands):

						For the Years Ended December 31,
						2020						2019						2018
Construction contract and other service revenues						$	70,640					$	113,763					$	60,859
Construction contract and other service expenses						(67,615)						(109,962)						(58,326)
NOI from service operations						$	3,025					$	3,801					$	2,533

Schedule of reconciliation of net operating income from real estate operations and service operations to net income

The following table reconciles our NOI from real estate operations for reportable segments and NOI from service operations to net income as reported on our consolidated statements of operations (in thousands):

						For the Years Ended December 31,
						2020						2019						2018
NOI from real estate operations						$	341,836					$	335,025					$	321,036
NOI from service operations						3,025						3,801						2,533
Interest and other income						8,574						7,894						4,358
Credit loss recoveries						933						—						—
Gain on sales of real estate						30,209						105,230						2,340
Gain on sale of investment in unconsolidated real estate joint venture						29,416						—						—
Equity in income of unconsolidated entities						1,825						1,633						2,697
Income tax (expense) benefit						(353)						217						363
Depreciation and other amortization associated with real estate operations						(138,193)						(137,069)						(137,116)
Impairment losses						(1,530)						(329)						(2,367)
General, administrative and leasing expenses						(33,001)						(35,402)						(28,900)
Business development expenses and land carry costs						(4,473)						(4,239)						(5,840)
Interest expense						(67,937)						(71,052)						(75,385)
UJV NOI allocable to COPT included in equity in income of unconsolidated entities						(6,951)						(5,705)						(4,818)
Loss on early extinguishment of debt						(7,306)						—						(258)
Loss on interest rate derivatives						(53,196)						—						—
Net income						$	102,878					$	200,004					$	78,643

Schedule of reconciliation of segment assets to total assets

The following table reconciles our segment assets to the consolidated total assets of COPT and subsidiaries (in thousands):

			As of December 31,
			2020						2019
Segment assets			$	3,388,978					$	3,024,958
Operating properties lease liabilities included in segment assets			30,721						17,317
Non-operating property assets			466,991						621,630
Other assets			190,333						190,548
Total COPT consolidated assets			$	4,077,023					$	3,854,453

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