XML 71 R23.htm IDEA: XBRL DOCUMENT

Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2011

Real Estate and Accumulated Depreciation Disclosure [Abstract]

REAL ESTATE AND ACCUMULATED DEPRECIATION

SCHEDULE III

(Page 1 of 4)

COUSINS PROPERTIES INCORPORATED AND SUBSIDIARIES

REAL ESTATE AND ACCUMULATED DEPRECIATION

DECEMBER 31, 2011

(in thousands)

			0000				0000				0000				0000				0000				0000				0000				0000				0000				0000			0000			0000
						Initial Cost to Company								Costs Capitalized Subsequent to Acquisition								Gross Amount at Which Carried at Close of Period
Description/Metropolitan Area		Encumbrances				Land and Improvements				Buildings and Improvements				Land and Improvements less Cost of Sales, Transfers and Other				Building and Improvements less Cost of Sales, Transfers and Other				Land and Improvements less Cost of Sales, Transfers and Other				Building and Improvements less Cost of Sales, Transfers and Other				Total (a)				Accumulated Depreciation (a)				Date of Construction/ Renovation				Date Acquired		Life on Which Depreciation in 2011 Statement of Operations is Computed (b)
OPERATING PROPERTIES
*Office*
191 Peachtree Tower (d)		$	—			$	5,355			$	141,012			$	—			$	79,595			$	5,355			$	220,607			$	225,962			$	44,491				—			2006			40 years
Atlanta, GA
Terminus 100			138,194				15,559				—				(2,512	)			157,054				13,047				157,054				170,101				37,387				2008			2005			30 years
Atlanta, GA
Promenade (d)			—				13,439				102,790				—				584				13,439				103,374				116,813				442				—			2011			34 years
Atlanta, GA
The American Cancer Society Center			135,650				5,226				67,370				—				27,308				5,226				94,678				99,904				51,078				—			1999			25 years
Atlanta, GA
The Points at Waterview			16,135				2,558				22,910				85				6,568				2,643				29,478				32,121				15,737				—			2000			25 years
Suburban Dallas, TX
Meridian Mark Plaza			26,554				2,219				—				—				25,909				2,219				25,909				28,128				13,679				1997			1997			30 years
Atlanta, GA
Lakeshore Park Plaza			—				3,362				12,261				—				5,862				3,362				18,123				21,485				9,718				—			1998			30 years
Birmingham, AL
600 University Park Place			—				1,899				—				—				19,059				1,899				19,059				20,958				7,541				1998			1998			30 years
Birmingham, AL
555 North Point Center East			—				368				—				—				18,651				368				18,651				19,019				10,245				1998			1998			30 years
Suburban Atlanta, GA
221 Peachtree Center Avenue Parking Garage			—				4,217				13,337				—				111				4,217				13,448				17,665				1,640				—			2007			39 years
Atlanta, GA
333 North Point Center East			—				551				—				—				13,815				551				13,815				14,366				7,955				1996			1996			30 years
Suburban Atlanta, GA
Galleria 75			—				6,673				4,743				(2,139	)			841				4,534				5,584				10,118				2,401				—			2004			25 years
Suburban Atlanta, GA
100 North Point Center East			24,478	(c)			1,475				9,625				—				1,943				1,475				11,568				13,043				5,599				—			2003			25 years
Suburban Atlanta, GA
200 North Point Center East			—	(c)			1,726				7,920				—				1,873				1,726				9,793				11,519				4,308				—			2003			25 years
Suburban Atlanta, GA
Inhibitex			—				675				—				—				5,727				675				5,727				6,402				2,227				2004			2004			30 years
Suburban Atlanta, GA
Cosmopolitan Center (d)			—				9,465				2,581				(4,562	)			(1,189	)			4,903				1,392				6,295				1,369				—			2006			24 years
Atlanta, GA

Total Office		$	341,011			$	74,767			$	384,549			$	(9,128	)		$	363,711			$	65,639			$	748,260			$	813,899			$	215,817

			000000				000000				000000				000000				000000				000000				000000				000000				000000				000000			000000			000000
						Initial Cost to Company								Costs Capitalized Subsequent to Acquisition								Gross Amount at Which Carried at Close of Period
Description/Metropolitan Area		Encumbrances				Land and Improvements				Buildings and Improvements				Land and Improvements less Cost of Sales, Transfers and Other				Building and Improvements less Cost of Sales, Transfers and Other				Land and Improvements less Cost of Sales, Transfers and Other				Building and Improvements less Cost of Sales, Transfers and Other				Total (a)				Accumulated Depreciation (a)				Date of Construction/ Renovation				Date Acquired		Life on Which Depreciation in 2011 Statement of Operations is Computed (b)
OPERATING PROPERTIES (cont’d)
*Retail*
The Avenue Forsyth		$	—			$	22,848			$	—			$	10,904			$	99,185			$	33,752			$	99,185			$	132,937			$	17,585				2009			2007			30 years
Suburban Atlanta, GA
The Avenue Collierville			—				11,470				—				(1,675	)			84,019				9,795				84,019				93,814				29,415				2004			2004			30 years
Suburban Memphis, TN
The Avenue Webb Gin			—				11,583				—				(2,275	)			67,058				9,308				67,058				76,366				20,503				2005			2005			30 years
Suburban Atlanta, GA
Tiffany Springs MarketCenter			—				8,174				—				5,896				43,039				14,070				43,039				57,109				6,153				2009			2007			30 years
Kansas City, MO

Total Retail		$	—			$	54,075			$	—			$	12,850			$	293,301			$	66,925			$	293,301			$	360,226			$	73,656


*Total Operating Properties*		$	341,011			$	128,842			$	384,549			$	3,722			$	657,012			$	132,564			$	1,041,561			$	1,174,125			$	289,473


PROJECTS UNDER DEVELOPMENT
Mahan Village
Tallahassee, FL		$	1			$	5,377			$	—			$	—			$	5,948			$	5,377			$	5,948			$	11,325			$	—				2011			2011			—


LAND HELD FOR INVESTMENT OR FUTURE DEVELOPMENT
Terminus		$	—			$	18,745			$	—			$	14,320			$	(23,165	)		$	33,065			$	(23,165	)		$	9,900			$	—				—			2005			—
Atlanta, GA
Round Rock Land			—				12,802				—				4,313				(6,915	)			17,115				(6,915	)			10,200				—				—			2005			—
Austin, TX
615 Peachtree Street			—				10,164				—				2,328				(3,642	)			12,492				(3,642	)			8,850				—				—			1996			—
Atlanta, GA
549 / 555 / 557 Peachtree Street			—				5,988				—				6,152				(9,515	)			12,140				(9,515	)			2,625				—				—			2004			—
Atlanta, GA
North Point			—				10,294				—				29,006				(37,265	)			39,300				(37,265	)			2,035				—				—			1970-1985			—
Suburban Atlanta, GA
Land Adjacent to The Avenue Forsyth			—				11,240				—				10,875				(18,415	)			22,115				(18,415	)			3,700				—				—			2007			—
Suburban Atlanta, GA
Research Park V			—				4,373				—				595				—				4,968				—				4,968				—				—			1998			—
Austin, TX
Jefferson Mill Business Park			—				14,223				—				9,533				(21,236	)			23,756				(21,236	)			2,520				—				—			2006			—
Suburban Atlanta, GA


						Initial Cost to Company								Costs Capitalized Subsequent to Acquisition								Gross Amount at Which Carried at Close of Period
Description/Metropolitan Area		Encumbrances				Land and Improvements				Buildings and Improvements				Land and Improvements less Cost of Sales, Transfers and Other				Building and Improvements less Cost of Sales, Transfers and Other				Land and Improvements less Cost of Sales, Transfers and Other				Building and Improvements less Cost of Sales, Transfers and Other				Total (a)				Accumulated Depreciation (a)				Date of Construction/ Renovation				Date Acquired		Life on Which Depreciation in 2011 Statement of Operations is Computed (b)
LAND HELD FOR INVESTMENT OR FUTURE DEVELOPMENT (cont’d)
Blalock Lakes		$	—			$	9,646			$	—			$	4			$	(6,305	)		$	9,650			$	(6,305	)		$	3,345			$	—				—			2008			—
Suburban Atlanta, GA
King Mill Distribution Park			—				10,528				—				6,497				(14,965	)			17,025				(14,965	)			2,060				—				—			2005			—
Suburban Atlanta, GA
Land Adjacent to The Avenue Collierville			—				7,208				—				2,052				(7,291	)			9,260				(7,291	)			1,969				—				—			2004			—
Suburban Memphis, TN
Wildwood			—				10,214				—				5,092				(14,292	)			15,306				(14,292	)			1,014				—				—			1971-1989			—
Suburban Atlanta, GA
Land Adjacent to The Avenue Webb Gin			—				946				—				—				—				946				—				946				—				—			2005			—
Suburban Atlanta, GA

*Total Land Held for Investment or Future Development*		$	—			$	126,371			$	—			$	90,767			$	(163,006	)		$	217,138			$	(163,006	)		$	54,132			$	—

RESIDENTIAL LOTS
Callaway Gardens		$	—			$	1,584			$	—			$	16,420			$	(13,054	)		$	18,004			$	(13,054	)		$	4,950			$	—				2006			2006			—
Pine Mountain, GA
Blalock Lakes			—				17,657				—				26,897				(37,684	)			44,554				(37,684	)			6,870				—				2006			2006			—
Suburban Atlanta, GA
The Lakes at Cedar Grove			—				4,720				—				30,339				(34,559	)			35,059				(34,559	)			500				—				2001			2001			—
Suburban Atlanta, GA
River’s Call			—				2,001				—				11,037				(12,555	)			13,038				(12,555	)			483				—				2000			1971-1989			—
Suburban Atlanta, GA
Longleaf at Callaway			180				2,098				—				6,812				(8,518	)			8,910				(8,518	)			392				—				2002			2002			—
Pine Mountain, GA

*Total Residential Lots*		$	180			$	28,060			$	—			$	91,505			$	(106,370	)		$	119,565			$	(106,370	)		$	13,195			$	—


OTHER
10 Terminus Place			—				7,810				72,573				(7,561	)			(72,290	)			249				283				532				—				2008			2005			—
Atlanta, GA
60 North Market			—				—				9,739				—				(9,634	)			—				105				105				—				—			2009			—
Asheville, NC

*Total Other*		$	—			$	7,810			$	82,312			$	(7,561	)		$	(81,924	)		$	249			$	388			$	637			$	—


		$	341,192			$	296,460			$	466,861			$	178,433			$	311,660			$	474,893			$	778,521			$	1,253,414			$	289,473

NOTES:

(a)	Reconciliations of total real estate carrying value and accumulated depreciation for the three years ended December 31, 2011 are as follows:

			000000				000000				000000				000000				000000				000000
		Real Estate												Accumulated Depreciation
		2011				2010				2009				2011				2010				2009

Balance at beginning of period		$	1,363,320			$	1,468,413			$	1,458,001			$	274,925			$	233,091			$	186,252
Additions during the period:
Acquisition			116,229				—				—				—				—				—
Improvements and other capitalized costs			50,009				43,798				83,211				—				—				—
Depreciation expense			—				—				—				52,630				58,585				52,926

			166,238				43,798				83,211				52,630				58,585				52,926


Deductions during the period:
Cost of real estate sold or foreclosed			(162,989	)			(143,497	)			(31,908	)			(29,110	)			(13,911	)			(96	)
Impairment losses			(104,183	)			(2,554	)			(34,900	)			—				—				—
Write-off of fully depreciated assets			(8,972	)			(2,840	)			(5,991	)			(8,972	)			(2,840	)			(5,991	)

			(276,144	)			(148,891	)			(72,799	)			(38,082	)			(16,751	)			(6,087	)


Balance at end of period		$	1,253,414			$	1,363,320			$	1,468,413			$	289,473			$	274,925			$	233,091

(b)	Buildings and improvements are depreciated over 24 to 40 years. Leasehold improvements and other capitalized leasing costs are depreciated over the life of the asset or the term of the lease, whichever is shorter.

(c)	100 North Point Center East and 200 North Point Center East were financed together with such properties being collateral for one non-recourse mortgage note payable.

(d)	Certain intangible assets related to the purchase of this property are included in other assets and are not in the above table.

The entire disclosure for real estate and accumulated depreciation. This may include a schedule that describes the property and lists the initial cost of land, buildings and improvements, improvements and carrying costs capitalized after acquisition, and the total carrying cost for land, buildings and improvements for each property and in aggregate. The schedule also lists the accumulated depreciation for each property and in aggregate, the date each property was constructed and acquired, the useful life used to calculate depreciation and any encumbrances on the properties. The entity provides a reconciliation of the carrying amount of real estate from the beginning of the period to the end of the period. Any real estate investments that have been written down or reserved against are described, including the basis of the write-down. A material amount of intercompany profit in the total carrying amount of real estate is disclosed. The aggregate cost of all real estate investments for federal income tax purposes is also disclosed.

+ References+ Details