XML 53 R35.htm IDEA: XBRL DOCUMENT v3.25.0.1

Leases (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Schedule of Lease Revenue Recognized Between Fixed and Variable Lease Revenue

The table below sets forth our composition of lease revenue recognized between fixed- and variable-lease revenue (in thousands):

												For the Years Ended December 31,
Lease revenue												2024						2023						2022 (1)
Fixed												$	513,461					$	478,585					$	453,907
Variable												157,905						141,262						126,262
												$	671,366					$	619,847					$	580,169

(1)Excludes lease revenue from discontinued operations of which $1.5 million was fixed and $527,000 was variable.

Schedule of Operating Leases Fixed Contractual Payments Due

Fixed contractual payments due under our property leases were as follows (in thousands):

						As of December 31, 2024
Year Ending December 31,						Operating leases						Sales-type leases
2025						$	498,617					$	960
2026						446,927						960
2027						399,742						960
2028						329,686						960
2029						267,860						960
Thereafter						1,073,432						675
Total contractual payments						$	3,016,264					5,475
Less: Amount representing interest												(988)
Net investment in sales-type leases (1)												$	4,487

(1) Included in the line entitled “prepaid expenses and other assets, net” on our consolidated balance sheet.

Schedule of Sales-Type Leases Fixed Contractual Payments Due

Fixed contractual payments due under our property leases were as follows (in thousands):

						As of December 31, 2024
Year Ending December 31,						Operating leases						Sales-type leases
2025						$	498,617					$	960
2026						446,927						960
2027						399,742						960
2028						329,686						960
2029						267,860						960
Thereafter						1,073,432						675
Total contractual payments						$	3,016,264					5,475
Less: Amount representing interest												(988)
Net investment in sales-type leases (1)												$	4,487

(1) Included in the line entitled “prepaid expenses and other assets, net” on our consolidated balance sheet.

Schedule of Property Right-of-Use Assets and Lease Liabilities

The table below sets forth our property right-of-use assets and property lease liabilities on our consolidated balance sheets (in thousands):

												As of December 31,
Leases						Balance Sheet Location						2024						2023
Right-of-use assets
Operating leases - Property						Property - operating right-of-use assets						$	55,760					$	41,296
Finance leases - Property						Prepaid expenses and other assets, net						2,491						2,565
Total right-of-use assets												$	58,251					$	43,861
Lease liabilities
Operating leases - Property						Property - operating lease liabilities						$	49,240					$	33,931
Finance leases - Property						Other liabilities						391						415
Total lease liabilities												$	49,631					$	34,346

Schedule of Property Lease Cost and Effect of Property Lease Payments on Consolidated Statements of Cash Flows

The table below presents our total property lease cost (in thousands):

						Statement of Operations Location												For the Years Ended December 31,
Lease cost																		2024						2023						2022
Operating lease cost
Property leases - fixed						Property operating expenses												$	7,845					$	6,955					$	4,114
Property leases - variable						Property operating expenses												246						66						65
Finance lease cost
Amortization of property right-of-use assets						Property operating expenses												74						76						31
Interest on lease liabilities						Interest expense												37						42						—
																		$	8,202					$	7,139					$	4,210

The table below presents the effect of property lease payments on our consolidated statements of cash flows (in thousands):

									For the Years Ended December 31,
Supplemental cash flow information									2024						2023						2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases									$	7,002					$	6,056					$	3,355
Operating cash flows for finance leases									$	37					$	42					$	—
Financing cash flows for finance leases									$	24					$	20					$	—

Schedule of Property Operating Lease, Liability, Maturity

Payments on property leases were due as follows (in thousands):

						December 31, 2024
Year Ending December 31,						Operating Leases						Finance Leases
2025						$	7,910					$	63
2026						8,192						65
2027						8,392						67
2028						2,812						69
2029						2,068						71
Thereafter						152,110						226
Total lease payments						181,484						561
Less: Amount representing interest						(132,244)						(170)
Lease liability						$	49,240					$	391

Schedule of Property Finance Lease, Liability, Maturity

Payments on property leases were due as follows (in thousands):

						December 31, 2024
Year Ending December 31,						Operating Leases						Finance Leases
2025						$	7,910					$	63
2026						8,192						65
2027						8,392						67
2028						2,812						69
2029						2,068						71
Thereafter						152,110						226
Total lease payments						181,484						561
Less: Amount representing interest						(132,244)						(170)
Lease liability						$	49,240					$	391

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:	dtr-types1: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
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-6

+ Details

Name:	us-gaap_FinanceLeaseLiabilityMaturityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-4

+ Details

Name:	us-gaap_LeaseCostTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-6

+ Details

Name:	us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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
-Topic 842
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479773/842-30-50-12

+ Details

Name:	us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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
-Topic 842
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479773/842-30-50-5

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-6A

+ Details

Name:	us-gaap_OperatingLeaseLeaseIncomeTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of maturity of undiscounted cash flows to be received on annual basis for sales-type and direct financing leases receivable. Includes, but is not limited to, reconciliation to lease receivable recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479773/842-30-50-10

+ Details

Name:	us-gaap_SalesTypeAndDirectFinancingLeasesLeaseReceivableMaturityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration