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Information by Business Segment (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Segment Financial Information for Reportable Segments

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

			Defense/IT Portfolio
			Fort Meade/BW Corridor						NoVA Defense/IT						Lackland Air Force Base						Navy Support						Redstone Arsenal						Data Center Shells						Total Defense/IT Portfolio												Other						Total
Three Months Ended March 31, 2025
Revenues from real estate operations			$	84,608					$	23,162					$	16,410					$	7,960					$	16,422					$	10,865					$	159,427											$	18,170					$	177,597
Other segment items:
Property operating expenses			(31,930)						(10,089)						(8,999)						(4,166)						(6,294)						(1,853)						(63,331)												(8,709)						(72,040)
UJV NOI allocable to COPT Defense			—						—						—						—						—						1,889						1,889												—						1,889
Total other segment items			(31,930)						(10,089)						(8,999)						(4,166)						(6,294)						36						(61,442)												(8,709)						(70,151)
NOI from real estate operations			$	52,678					$	13,073					$	7,411					$	3,794					$	10,128					$	10,901					$	97,985											$	9,461					$	107,446
Additions to long-lived assets			$	8,093					$	2,556					$	119					$	3,666					$	3,248					$	—					$	17,682											$	1,733					$	19,415
Transfers from non-operating properties			$	1,337					$	18					$	—					$	—					$	4,266					$	3,941					$	9,562											$	2,774					$	12,336
Segment assets at March 31, 2025			$	1,441,470					$	492,384					$	197,349					$	163,951					$	601,935					$	490,998					$	3,388,087											$	314,871					$	3,702,958
Three Months Ended March 31, 2024
Revenues from real estate operations			$	78,836					$	21,426					$	16,411					$	8,226					$	16,808					$	8,457					$	150,164											$	16,499					$	166,663
Other segment items:
Property operating expenses			(28,377)						(9,262)						(8,688)						(3,626)						(5,792)						(943)						(56,688)												(10,058)						(66,746)
UJV NOI allocable to COPT Defense			—						—						—						—						—						1,740						1,740												—						1,740
Total other segment items			(28,377)						(9,262)						(8,688)						(3,626)						(5,792)						797						(54,948)												(10,058)						(65,006)
NOI from real estate operations			$	50,459					$	12,164					$	7,723					$	4,600					$	11,016					$	9,254					$	95,216											$	6,441					$	101,657
Additions to long-lived assets			$	26,553					$	4,491					$	—					$	598					$	672					$	—					$	32,314											$	4,577					$	36,891
Transfers from non-operating properties			$	1,575					$	993					$	9					$	—					$	32,884					$	3,075					$	38,536											$	9					$	38,545
Segment assets at March 31, 2024			$	1,462,065					$	489,544					$	187,232					$	161,210					$	584,790					$	431,212					$	3,316,053											$	309,177					$	3,625,230

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,
			2025						2024
Segment revenues from real estate operations			$	177,597					$	166,663
Construction contract and other service revenues			10,259						26,603
Total revenues			$	187,856					$	193,266

Schedule of Reconciliation of UJV NOI Allocable to COPT Defense to Equity in Income of Unconsolidated Entities

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

			For the Three Months Ended March 31,
			2025						2024
UJV NOI allocable to COPT Defense			$	1,889					$	1,740
Less: Income from UJV allocable to COPT Defense attributable to depreciation and amortization expense and interest expense			(1,518)						(1,671)
Equity in income of unconsolidated entities			$	371					$	69

Schedule of Computation of NOI 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,
			2025						2024
Construction contract and other service revenues			$	10,259					$	26,603
Construction contract and other service expenses			(9,705)						(26,007)
NOI from service operations			$	554					$	596

Schedule of Reconciliation of NOI from Real Estate Operations for Reportable Segments and NOI from 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,
			2025						2024
NOI from real estate operations			$	107,446					$	101,657
NOI from service operations			554						596
Depreciation and other amortization associated with real estate operations			(39,359)						(38,351)
General, administrative, leasing and other expenses			(12,156)						(11,747)
Interest expense			(20,504)						(20,767)
Interest and other income, net			1,568						4,122
Gain on sales of real estate			300						—
Equity in income of unconsolidated entities			371						69
UJV NOI allocable to COPT Defense included in equity in income of unconsolidated entities			(1,889)						(1,740)
Income tax expense			(103)						(168)
Net income			$	36,228					$	33,671

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, 2025						March 31, 2024
Segment assets						$	3,702,958					$	3,625,230
Operating properties lease liabilities included in segment assets						48,600						33,550
Investment in UJV deficit balance included in segment assets						3,895						2,982
Non-operating property assets						300,241						245,828
Other assets						194,617						325,305
Total consolidated assets						$	4,250,311					$	4,232,895

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