COPT DEFENSE PROPERTIES

CDP · XNYS

CIK 860546fmd_10483PP1NZPESEEBWHRYD8PJFAFinance, Insurance and Real Estate · Real Estate Investment TrustsTemplate: Real estate

Coverage: Jan 01, 2008 to Sep 30, 2026, 71 periods

Income Statement · Annual · Millions · USD
Line item	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Total revenues	574	613	578	612	582	664	739	685	753	764
Rental revenue	418	505	512	493	509	554	580	620	671	714
Property operating expenses	198	191	201	–	–	–	–	–	–	–
Cost of revenue	45	100	58	110	68	104	–	–	–	–
Gross profit	529	513	520	502	515	560	–	–	–	–
Depreciation and amortization	133	134	137	125	127	138	141	149	154	162
Gain on sale of real estate	60	10	2	105	30	66	48	49	0	3
Selling, general and administrative	37	31	29	35	33	41	39	43	47	48
Impairment of real estate	101	15	2	0	–	–	–	–	–	–
Operating income	52	136	–	–	–	–	–	–	–	–
Funds from operations (NAREIT definition, derived)	203	208	209	212	194	154	272	25	298	318
Interest expense	83	77	75	71	68	65	61	71	82	87
Other non-operating income (expense)	–	–	–	–	–	9	9	13	13	11
Income before taxes	33	75	76	194	99	77	148	(73)	144	158
Income tax expense	0	1	(0)	(0)	0	0	0	1	0	1
Net income from continuing operations	34	75	79	195	101	78	149	(74)	144	157
Net income	29	69	72	192	97	82	179	(74)	144	160
Net income to common shareholders	15	55	72	191	97	76	172	(75)	138	152