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Information by Business Segment (Tables)

3 Months Ended

Mar. 31, 2021

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): 

			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
Three Months Ended March 31, 2021
Revenues from real estate operations			$	66,446					$	15,211					$	12,555					$	8,398					$	8,253					$	8,787					$	119,650					$	16,677					$	8,090					$	747					$	145,164
Property operating expenses			(24,671)						(5,876)						(6,874)						(3,433)						(2,554)						(1,082)						(44,490)						(7,664)						(4,421)						(399)						(56,974)
UJV NOI allocable to COPT			—						—						—						—						—						917						917						—						—						—						917
NOI from real estate operations			$	41,775					$	9,335					$	5,681					$	4,965					$	5,699					$	8,622					$	76,077					$	9,013					$	3,669					$	348					$	89,107
Additions to long-lived assets			$	6,881					$	285					$	—					$	552					$	258					$	—					$	7,976					$	4,022					$	228					$	4					$	12,230
Transfers from non-operating properties			$	356					$	88					$	51					$	—					$	12,917					$	985					$	14,397					$	357					$	—					$	—					$	14,754
Segment assets at March 31, 2021			$	1,270,467					$	388,863					$	141,044					$	176,506					$	293,107					$	419,957					$	2,689,944					$	488,117					$	199,245					$	3,496					$	3,380,802
Three Months Ended March 31, 2020
Revenues from real estate operations			$	64,438					$	13,678					$	12,076					$	8,341					$	4,676					$	5,577					$	108,786					$	15,460					$	7,172					$	698					$	132,116
Property operating expenses			(21,222)						(5,185)						(6,795)						(3,285)						(1,847)						(657)						(38,991)						(7,537)						(3,233)						(238)						(49,999)
UJV NOI allocable to COPT			—						—						—						—						—						1,713						1,713						—						—						—						1,713
NOI from real estate operations			$	43,216					$	8,493					$	5,281					$	5,056					$	2,829					$	6,633					$	71,508					$	7,923					$	3,939					$	460					$	83,830
Additions to long-lived assets			$	7,675					$	2,691					$	—					$	1,758					$	170					$	—					$	12,294					$	3,357					$	878					$	65					$	16,594
Transfers from non-operating properties			$	538					$	256					$	15					$	—					$	1,136					$	56,232					$	58,177					$	—					$	—					$	—					$	58,177
Segment assets at March 31, 2020			$	1,275,601					$	395,108					$	145,363					$	183,054					$	138,797					$	334,102					$	2,472,025					$	390,352					$	200,891					$	3,677					$	3,066,945

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 Three Months Ended March 31,
			2021						2020
Segment revenues from real estate operations			$	145,164					$	132,116
Construction contract and other service revenues			16,558						13,681
Total revenues			$	161,722					$	145,797

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 Three Months Ended March 31,
			2021						2020
UJV NOI allocable to COPT			$	917					$	1,713
Less: Income from UJV allocable to COPT attributable to depreciation and amortization expense and interest expense			(693)						(1,270)
Add: Equity in loss of unconsolidated non-real estate entities			(2)						(2)
Equity in income of unconsolidated entities			$	222					$	441

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 Three Months Ended March 31,
			2021						2020
Construction contract and other service revenues			$	16,558					$	13,681
Construction contract and other service expenses			(15,793)						(13,121)
NOI from service operations			$	765					$	560

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 Three Months Ended March 31,
			2021						2020
NOI from real estate operations			$	89,107					$	83,830
NOI from service operations			765						560
Interest and other income			1,865						1,205
Credit loss recoveries (expense)			907						(689)
Gain on sales of real estate			(490)						5
Equity in income of unconsolidated entities			222						441
Income tax expense			(32)						(49)
Depreciation and other amortization associated with real estate operations			(37,321)						(32,596)
General, administrative and leasing expenses			(8,406)						(7,486)
Business development expenses and land carry costs			(1,094)						(1,118)
Interest expense			(17,519)						(16,840)
UJV NOI allocable to COPT included in equity in income of unconsolidated entities			(917)						(1,713)
Loss on early extinguishment of debt			(33,166)						—
Net (loss) income			$	(6,079)					$	25,550

Schedule of reconciliation of segment assets to total assets

The following table reconciles our segment assets to our consolidated total assets (in thousands): 

			March 31, 2021						March 31, 2020
Segment assets			$	3,380,802					$	3,066,945
Operating properties lease liabilities included in segment assets			30,151						17,365
Non-operating property assets			492,230						658,978
Other assets			209,765						311,169
Total consolidated assets			$	4,112,948					$	4,054,457

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