Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2013

Fair Value Disclosures [Abstract]

Schedule of fair value assets and liabilities measured on recurring basis

The tables below set forth financial assets and liabilities of COPT and its subsidiaries that are accounted for at fair value on a recurring basis as of December 31, 2013 and 2012 and the hierarchy level of inputs used in measuring their respective fair values under applicable accounting standards (in thousands):

Description	Quoted Prices in Active Markets for Identical Assets(Level 1)		Significant Other Observable Inputs(Level 2)		Significant Unobservable Inputs(Level 3)		Total
December 31, 2013:
Assets:
Marketable securities in deferred compensation plan (1)
Mutual funds	$	7,090	$	—	$	—	$	7,090
Common stocks	176		—		—		176
Other	201		—		—		201
Common stock (1)	298		—		—		298
Interest rate derivatives (2)	—		6,594		—		6,594
Warrants to purchase common stock in KEYW (2)	—		301		—		301
Total Assets	$	7,765	$	6,895	$	—	$	14,660
Liabilities:
Deferred compensation plan liability (3)	$	—	$	7,467	$	—	$	7,467
Interest rate derivatives	—		3,309		—		3,309
Total Liabilities	$	—	$	10,776	$	—	$	10,776
Redeemable noncontrolling interest	$	—	$	—	$	17,758	$	17,758
December 31, 2012:
Assets:
Marketable securities in deferred compensation plan (1)
Mutual funds	$	6,275	$	—	$	—	$	6,275
Common stocks	298		—		—		298
Other	203		—		—		203
Common stock (1)	809		—		—		809
Warrants to purchase common stock in KEYW (2)	—		294		—		294
Total Assets	$	7,585	$	294	$	—	$	7,879
Liabilities:
Deferred compensation plan liability (3)	$	—	$	6,776	$	—	$	6,776
Interest rate derivatives	—		6,185		—		6,185
Total Liabilities	$	—	$	12,961	$	—	$	12,961
Redeemable noncontrolling interest	$	—	$	—	$	10,298	$	10,298

(1) Included in the line entitled “restricted cash and marketable securities” on COPT’s consolidated balance sheet.

(2) Included in the line entitled “prepaid expenses and other assets” on COPT’s consolidated balance sheet.

(3) Included in the line entitled “other liabilities” on COPT’s consolidated balance sheet.

The tables below set forth financial assets and liabilities of COPLP and its subsidiaries that are accounted for at fair value on a recurring basis as of December 31, 2013 and 2012 and the hierarchy level of inputs used in measuring their respective fair values under applicable accounting standards (in thousands):

Description	Quoted Prices in Active Markets for Identical Assets(Level 1)		Significant Other Observable Inputs(Level 2)		Significant Unobservable Inputs(Level 3)		Total
December 31, 2013:
Assets:
Common stock (1)	$	298	$	—	$	—	$	298
Interest rate derivatives (2)	—		6,594		—		6,594
Warrants to purchase common stock in KEYW (2)	—		301		—		301
Total Assets	$	298	$	6,895	$	—	$	7,193
Liabilities:
Interest rate derivatives	$	—	$	3,309	$	—	$	3,309
Redeemable noncontrolling interest	$	—	$	—	$	17,758	$	17,758
December 31, 2012:
Assets:
Common stock (1)	$	809	$	—	$	—	$	809
Warrants to purchase common stock in KEYW (2)	—		294		—		294
Total Assets	$	809	$	294	$	—	$	1,103
Liabilities:
Interest rate derivatives	$	—	$	6,185	$	—	$	6,185
Redeemable noncontrolling interest	$	—	$	—	$	10,298	$	10,298

(1) Included in the line entitled “restricted cash and marketable securities” on COPLP’s consolidated balance sheet.

(2) Included in the line entitled “prepaid expenses and other assets” on COPLP’s consolidated balance sheet.

Schedule of fair value hierarchy of impaired properties and other assets associated with such properties

The table below sets forth the fair value hierarchy of the valuation techniques used by us in determining the fair values of the properties (dollars in thousands):

	Fair Value of Properties Held as of December 31, 2013
	Quoted Prices in				Significant				Impairment
	Active Markets for		Significant Other		Unobservable				Losses
	Identical Assets		Observable Inputs		Inputs				Recognized in
Description	(Level 1)		(Level 2)		(Level 3)		Total		2013 (1)
Assets
Properties, net	$	—	$	—	$	4,459	$	4,459	$	31,068

(1) Represents aggregate impairment losses on non recurring fair value measurements resulting in impairment losses, excluding exit costs incurred of $979,000.

The table below sets forth the fair value hierarchy of the valuation techniques used by us in determining the fair values of the properties (dollars in thousands):

	Fair Value of Properties Held as of December 31, 2012
	Quoted Prices in				Significant				Impairment
	Active Markets for		Significant Other		Unobservable				Losses
	Identical Assets		Observable Inputs		Inputs				Recognized in
Description	(Level 1)		(Level 2)		(Level 3)		Total		2012 (1)
Assets (2):
Properties, net	$	—	$	—	$	173,949	$	173,949	$	62,702

(1) Represents aggregate impairment losses on non recurring fair value measurements resulting in impairment losses, excluding exit costs incurred of $4.2 million.

(2) Reflects balance sheet classifications of assets at time of fair value measurement, excluding the effect of held for sale classifications.

Schedule of quantitative information about significant unobservable inputs used for Level 3 fair value measurements

The table below sets forth quantitative information about significant unobservable inputs used for the Level 3 fair value measurements reported above as of December 31, 2012 (dollars in thousands):

Valuation Technique	Fair Value on  Measurement Date		Unobservable Input	Range (Weighted Average)
Discounted cash flow	$	166,650	Discount rate	10.0% to 11.0% (10.3%)
			Terminal capitalization rate	8.7% to 10.0% (8.9%)
			Market rent growth rate	3.0% (1)
			Expense growth rate	3.0% (1)
Yield Analysis	$	2,356	Yield	12% (1)
			Market rent rate	$8.50 per square foot (1)
			Leasing costs	$20.00 per square foot (1)

(1) Only one value applied for this unobservable input.

The table below sets forth quantitative information about significant unobservable inputs used for the Level 3 fair value measurements reported above as of December 31, 2013 (dollars in thousands):

Valuation Technique	Fair Value on  Measurement Date		Unobservable Input	Range (Weighted Average)
Discounted cash flow	$	4,459	Discount rate	10.0% (1)
			Terminal capitalization rate	9.5% (1)
			Market rent growth rate	3.0% (1)
			Expense growth rate	3.0% (1)

(1) Only one value applied for this unobservable input.