Company Quick10K Filing
Cousins Properties
Price37.53 EPS0
Shares149 P/E163
MCap5,574 P/FCF28
Net Debt1,840 EBIT72
TEV7,415 TEV/EBIT103
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-09-30 Filed 2020-10-28
10-Q 2020-06-30 Filed 2020-07-30
10-Q 2020-03-31 Filed 2020-04-30
10-K 2019-12-31 Filed 2020-02-05
10-Q 2019-09-30 Filed 2019-10-23
10-Q 2019-06-30 Filed 2019-07-24
10-Q 2019-03-31 Filed 2019-05-09
10-K 2018-12-31 Filed 2019-02-06
10-Q 2018-09-30 Filed 2018-10-24
10-Q 2018-06-30 Filed 2018-07-25
10-Q 2018-03-31 Filed 2018-04-25
10-K 2017-12-31 Filed 2018-02-07
10-Q 2017-09-30 Filed 2017-10-25
10-Q 2017-06-30 Filed 2017-07-27
10-Q 2017-03-31 Filed 2017-04-27
10-K 2016-12-31 Filed 2017-02-21
10-Q 2016-09-30 Filed 2016-11-01
10-Q 2016-06-30 Filed 2016-07-28
10-Q 2016-03-31 Filed 2016-05-04
10-K 2015-12-31 Filed 2016-02-10
10-Q 2015-09-30 Filed 2015-10-27
10-Q 2015-06-30 Filed 2015-07-28
10-Q 2015-03-31 Filed 2015-05-06
10-K 2014-12-31 Filed 2015-02-12
10-Q 2014-09-30 Filed 2014-10-29
10-Q 2014-06-30 Filed 2014-07-29
10-Q 2014-03-31 Filed 2014-05-07
10-K 2013-12-31 Filed 2014-02-13
10-Q 2013-09-30 Filed 2013-10-30
10-Q 2013-06-30 Filed 2013-07-29
10-Q 2013-03-31 Filed 2013-05-08
10-K 2012-12-31 Filed 2013-02-13
10-Q 2012-09-30 Filed 2012-10-30
10-Q 2012-06-30 Filed 2012-07-31
10-Q 2012-03-31 Filed 2012-05-09
10-K 2011-12-31 Filed 2012-02-21
10-Q 2011-09-30 Filed 2011-11-02
10-Q 2011-06-30 Filed 2011-08-03
10-Q 2011-03-31 Filed 2011-05-04
10-K 2010-12-31 Filed 2011-02-28
10-Q 2010-09-30 Filed 2010-11-08
10-Q 2010-06-30 Filed 2010-08-09
10-Q 2010-03-31 Filed 2010-05-10
10-K 2009-12-31 Filed 2010-02-26
8-K 2020-11-17
8-K 2020-10-28
8-K 2020-09-14
8-K 2020-07-30
8-K 2020-06-01
8-K 2020-04-30
8-K 2020-04-21
8-K 2020-03-31
8-K 2020-02-26
8-K 2020-02-25
8-K 2020-02-05
8-K 2019-12-12
8-K 2019-12-11
8-K 2019-12-09
8-K 2019-11-15
8-K 2019-11-12
8-K 2019-10-23
8-K 2019-09-23
8-K 2019-09-09
8-K 2019-07-25
8-K 2019-07-24
8-K 2019-06-14
8-K 2019-06-14
8-K 2019-06-12
8-K 2019-04-24
8-K 2019-03-25
8-K 2019-03-25
8-K 2019-03-04
8-K 2019-02-06
8-K 2018-11-05
8-K 2018-10-24
8-K 2018-09-18
8-K 2018-07-25
8-K 2018-04-25
8-K 2018-02-07
8-K 2018-01-04

CUZ 10Q Quarterly Report

Part I - Financial Information
Item 1. Financial Statements.
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk.
Item 4. Controls and Procedures.
Part II. Other Information
Item 1. Legal Proceedings.
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
Item 6. Exhibits.
EX-31.1 cuz-exhibit3113q20.htm
EX-31.2 cuz-exhibit3123q20.htm
EX-32.1 cuz-exhibit3213q20.htm
EX-32.2 cuz-exhibit3223q20.htm

Cousins Properties Earnings 2020-09-30

Balance SheetIncome StatementCash Flow
10.08.06.04.02.00.02012201420172020
Assets, Equity
0.20.10.10.0-0.0-0.12012201420172020
Rev, G Profit, Net Income
1.00.60.2-0.3-0.7-1.12012201420172020
Ops, Inv, Fin

cuz-20200930
0000025232FALSE2020Q3December 310.250.2500000252322020-01-012020-09-30xbrli:shares00000252322020-10-21iso4217:USD00000252322020-09-3000000252322019-12-31iso4217:USDxbrli:shares0000025232cuz:RentalPropertiesMember2020-07-012020-09-300000025232cuz:RentalPropertiesMember2019-07-012019-09-300000025232cuz:RentalPropertiesMember2020-01-012020-09-300000025232cuz:RentalPropertiesMember2019-01-012019-09-300000025232cuz:FeesMember2020-07-012020-09-300000025232cuz:FeesMember2019-07-012019-09-300000025232cuz:FeesMember2020-01-012020-09-300000025232cuz:FeesMember2019-01-012019-09-300000025232us-gaap:ProductAndServiceOtherMember2020-07-012020-09-300000025232us-gaap:ProductAndServiceOtherMember2019-07-012019-09-300000025232us-gaap:ProductAndServiceOtherMember2020-01-012020-09-300000025232us-gaap:ProductAndServiceOtherMember2019-01-012019-09-3000000252322020-07-012020-09-3000000252322019-07-012019-09-3000000252322019-01-012019-09-300000025232us-gaap:PreferredStockMember2020-06-300000025232us-gaap:CommonStockMember2020-06-300000025232us-gaap:AdditionalPaidInCapitalMember2020-06-300000025232us-gaap:TreasuryStockMember2020-06-300000025232us-gaap:RetainedEarningsMember2020-06-300000025232us-gaap:ParentMember2020-06-300000025232us-gaap:NoncontrollingInterestMember2020-06-3000000252322020-06-300000025232us-gaap:RetainedEarningsMember2020-07-012020-09-300000025232us-gaap:ParentMember2020-07-012020-09-300000025232us-gaap:NoncontrollingInterestMember2020-07-012020-09-300000025232us-gaap:CommonStockMember2020-07-012020-09-300000025232us-gaap:AdditionalPaidInCapitalMember2020-07-012020-09-300000025232cuz:EquityClassifiedAwardsMember2020-07-012020-09-300000025232us-gaap:PreferredStockMember2020-09-300000025232us-gaap:CommonStockMember2020-09-300000025232us-gaap:AdditionalPaidInCapitalMember2020-09-300000025232us-gaap:TreasuryStockMember2020-09-300000025232us-gaap:RetainedEarningsMember2020-09-300000025232us-gaap:ParentMember2020-09-300000025232us-gaap:NoncontrollingInterestMember2020-09-300000025232us-gaap:PreferredStockMember2019-06-300000025232us-gaap:CommonStockMember2019-06-300000025232us-gaap:AdditionalPaidInCapitalMember2019-06-300000025232us-gaap:TreasuryStockMember2019-06-300000025232us-gaap:RetainedEarningsMember2019-06-300000025232us-gaap:ParentMember2019-06-300000025232us-gaap:NoncontrollingInterestMember2019-06-3000000252322019-06-300000025232us-gaap:RetainedEarningsMember2019-07-012019-09-300000025232us-gaap:ParentMember2019-07-012019-09-300000025232us-gaap:NoncontrollingInterestMember2019-07-012019-09-300000025232us-gaap:CommonStockMember2019-07-012019-09-300000025232us-gaap:AdditionalPaidInCapitalMember2019-07-012019-09-300000025232cuz:EquityClassifiedAwardsMember2019-07-012019-09-300000025232us-gaap:PreferredStockMember2019-09-300000025232us-gaap:CommonStockMember2019-09-300000025232us-gaap:AdditionalPaidInCapitalMember2019-09-300000025232us-gaap:TreasuryStockMember2019-09-300000025232us-gaap:RetainedEarningsMember2019-09-300000025232us-gaap:ParentMember2019-09-300000025232us-gaap:NoncontrollingInterestMember2019-09-3000000252322019-09-300000025232us-gaap:PreferredStockMember2019-12-310000025232us-gaap:CommonStockMember2019-12-310000025232us-gaap:AdditionalPaidInCapitalMember2019-12-310000025232us-gaap:TreasuryStockMember2019-12-310000025232us-gaap:RetainedEarningsMember2019-12-310000025232us-gaap:ParentMember2019-12-310000025232us-gaap:NoncontrollingInterestMember2019-12-310000025232us-gaap:RetainedEarningsMember2020-01-012020-09-300000025232us-gaap:ParentMember2020-01-012020-09-300000025232us-gaap:NoncontrollingInterestMember2020-01-012020-09-300000025232us-gaap:CommonStockMember2020-01-012020-09-300000025232us-gaap:AdditionalPaidInCapitalMember2020-01-012020-09-300000025232us-gaap:PreferredStockMember2020-01-012020-09-300000025232cuz:EquityClassifiedAwardsMember2020-01-012020-09-300000025232us-gaap:PreferredStockMember2018-12-310000025232us-gaap:CommonStockMember2018-12-310000025232us-gaap:AdditionalPaidInCapitalMember2018-12-310000025232us-gaap:TreasuryStockMember2018-12-310000025232us-gaap:RetainedEarningsMember2018-12-310000025232us-gaap:ParentMember2018-12-310000025232us-gaap:NoncontrollingInterestMember2018-12-3100000252322018-12-310000025232us-gaap:RetainedEarningsMember2019-01-012019-09-300000025232us-gaap:ParentMember2019-01-012019-09-300000025232us-gaap:NoncontrollingInterestMember2019-01-012019-09-300000025232us-gaap:CommonStockMember2019-01-012019-09-300000025232us-gaap:AdditionalPaidInCapitalMember2019-01-012019-09-300000025232cuz:EquityClassifiedAwardsMember2019-01-012019-09-30xbrli:pure0000025232cuz:CousinsPropertiesLPMember2020-01-012020-09-30utr:sqft00000252322019-06-1400000252322019-06-142019-06-140000025232cuz:TIERREITInc.Member2019-03-252019-03-250000025232cuz:FormerTIERCommonStockholdersMember2019-06-142019-06-140000025232cuz:TIERREITInc.Member2019-06-140000025232cuz:TIERREITInc.Member2020-07-012020-09-300000025232cuz:TIERREITInc.Member2020-01-012020-09-300000025232cuz:TIERREITInc.Member2019-07-012019-09-300000025232cuz:TIERREITInc.Member2019-01-012019-09-300000025232cuz:TIERREITInc.Member2019-03-250000025232cuz:TIERREITInc.Membercuz:RentalPropertiesMember2020-07-012020-09-300000025232cuz:TIERREITInc.Membercuz:RentalPropertiesMember2020-01-012020-09-300000025232cuz:TIERREITInc.Membercuz:RentalPropertiesMember2019-07-012019-09-300000025232cuz:TIERREITInc.Membercuz:RentalPropertiesMember2019-01-012019-09-300000025232us-gaap:LandMembercuz:NorfolkSouthernMember2019-03-012019-03-010000025232cuz:FeesDevelopmentServicesMembercuz:NorfolkSouthernMember2019-03-010000025232cuz:FeesConsultingServicesMembercuz:NorfolkSouthernMember2019-03-010000025232cuz:A1200PeachtreeMembercuz:NorfolkSouthernMember2019-03-012019-03-010000025232cuz:A1200PeachtreeMembercuz:NorfolkSouthernMember2019-03-010000025232us-gaap:LandMember2018-01-012018-12-310000025232us-gaap:LandMember2019-01-012019-12-310000025232cuz:SitePreparationWorkMember2019-03-012019-03-010000025232cuz:A1200PeachtreeMember2019-03-010000025232cuz:A1200PeachtreeMemberus-gaap:LandMembercuz:NorfolkSouthernMember2019-03-012019-03-010000025232cuz:A1200PeachtreeMembercuz:DevelopmentAgreementMembercuz:NorfolkSouthernMember2019-03-012019-03-010000025232cuz:A1200PeachtreeMembercuz:ConsultingAgreementMembercuz:NorfolkSouthernMember2019-03-012019-03-0100000252322019-03-012019-03-010000025232cuz:NorfolkSouthernMember2020-07-012020-09-300000025232cuz:NorfolkSouthernMember2019-07-012019-09-300000025232cuz:NorfolkSouthernMember2020-01-012020-09-300000025232cuz:NorfolkSouthernMember2019-01-012019-09-300000025232cuz:NorfolkSouthernMember2020-09-300000025232cuz:NorfolkSouthernMember2019-12-310000025232cuz:HearstTowerMemberus-gaap:DiscontinuedOperationsDisposedOfBySaleMember2020-05-310000025232cuz:HearstTowerMemberus-gaap:DiscontinuedOperationsDisposedOfBySaleMember2020-03-310000025232cuz:HearstTowerMemberus-gaap:DiscontinuedOperationsDisposedOfBySaleMember2020-03-012020-03-310000025232cuz:WoodcrestMemberus-gaap:DiscontinuedOperationsDisposedOfBySaleMember2020-02-29utr:acre0000025232cuz:DowntownAtlantaGeorgiaMemberus-gaap:DiscontinuedOperationsDisposedOfBySaleMember2019-02-280000025232cuz:DowntownAtlantaGeorgiaMemberus-gaap:DiscontinuedOperationsDisposedOfBySaleMember2019-02-012019-02-280000025232cuz:DCCharlottePlazaLLLPMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2020-09-300000025232cuz:DCCharlottePlazaLLLPMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2019-12-310000025232cuz:Austin300ColoradoProjectLPMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2020-09-300000025232cuz:Austin300ColoradoProjectLPMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2019-12-310000025232cuz:AMCO120WTHoldingsLLCMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2020-09-300000025232cuz:AMCO120WTHoldingsLLCMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2019-12-310000025232cuz:CarolinaSquareHoldingsLPMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2020-09-300000025232cuz:CarolinaSquareHoldingsLPMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2019-12-310000025232cuz:HICOVictoryCenterLPMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2020-09-300000025232cuz:HICOVictoryCenterLPMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2019-12-310000025232us-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMembercuz:CharlotteGatewayVillageLlcMember2020-09-300000025232us-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMembercuz:CharlotteGatewayVillageLlcMember2019-12-310000025232cuz:WildwoodAssociatesMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2020-09-300000025232cuz:WildwoodAssociatesMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2019-12-310000025232cuz:CrawfordLongCpiLlcMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2020-09-300000025232cuz:CrawfordLongCpiLlcMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2019-12-310000025232cuz:OtherEquityMethodInvesteeMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2020-09-300000025232cuz:OtherEquityMethodInvesteeMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2019-12-310000025232us-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2020-09-300000025232us-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2019-12-310000025232us-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMembercuz:CharlotteGatewayVillageLlcMember2020-01-012020-09-300000025232us-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMembercuz:CharlotteGatewayVillageLlcMember2019-01-012019-09-300000025232cuz:DCCharlottePlazaLLLPMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2020-01-012020-09-300000025232cuz:DCCharlottePlazaLLLPMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2019-01-012019-09-300000025232cuz:CrawfordLongCpiLlcMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2020-01-012020-09-300000025232cuz:CrawfordLongCpiLlcMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2019-01-012019-09-300000025232cuz:CarolinaSquareHoldingsLPMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2020-01-012020-09-300000025232cuz:CarolinaSquareHoldingsLPMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2019-01-012019-09-300000025232cuz:HICOVictoryCenterLPMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2020-01-012020-09-300000025232cuz:HICOVictoryCenterLPMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2019-01-012019-09-300000025232cuz:Austin300ColoradoProjectLPMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2020-01-012020-09-300000025232cuz:Austin300ColoradoProjectLPMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2019-01-012019-09-300000025232cuz:TerminusOfficeHoldingsMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2020-01-012020-09-300000025232cuz:TerminusOfficeHoldingsMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2019-01-012019-09-300000025232cuz:AMCO120WTHoldingsLLCMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2020-01-012020-09-300000025232cuz:AMCO120WTHoldingsLLCMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2019-01-012019-09-300000025232cuz:OtherEquityMethodInvesteeMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2020-01-012020-09-300000025232cuz:OtherEquityMethodInvesteeMemberus-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2019-01-012019-09-300000025232us-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2020-01-012020-09-300000025232us-gaap:EquityMethodInvestmentNonconsolidatedInvesteeOrGroupOfInvesteesMember2019-01-012019-09-300000025232cuz:CarolinaSquareHoldingsLPMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-03-012020-03-310000025232cuz:CarolinaSquareHoldingsLPMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-04-012020-04-300000025232cuz:CharlotteGatewayVillageLlcMember2020-03-310000025232cuz:CharlotteGatewayVillageLlcMember2020-03-012020-03-310000025232cuz:WildwoodAssociatesMember2020-02-290000025232cuz:WildwoodAssociatesMember2020-02-012020-02-290000025232us-gaap:LeasesAcquiredInPlaceMember2020-09-300000025232us-gaap:LeasesAcquiredInPlaceMember2019-12-310000025232us-gaap:AboveMarketLeasesMember2020-09-300000025232us-gaap:AboveMarketLeasesMember2019-12-310000025232cuz:BelowMarketGroundLeasesMember2020-09-300000025232cuz:BelowMarketGroundLeasesMember2019-12-310000025232cuz:BelowMarketLeasesMember2020-09-300000025232cuz:AboveMarketGroundLeasesMember2020-09-300000025232cuz:UnsecuredCreditFacilityMember2019-12-310000025232cuz:UnsecuredCreditFacilityMember2020-09-300000025232us-gaap:UnsecuredDebtMember2020-09-300000025232us-gaap:UnsecuredDebtMember2019-12-310000025232cuz:A10YearUnsecuredSeniorNotesWithInterestRateof3.95Membercuz:SeniorUnsecuredDebtMember2020-09-300000025232cuz:A10YearUnsecuredSeniorNotesWithInterestRateof3.95Membercuz:SeniorUnsecuredDebtMember2019-12-310000025232cuz:EightYearNoteWithInterestRateOf391Membercuz:SeniorUnsecuredDebtMember2020-09-300000025232cuz:EightYearNoteWithInterestRateOf391Membercuz:SeniorUnsecuredDebtMember2019-12-310000025232cuz:A9YearUnsecuredSeniorNotesWithInterestRateof3.86Membercuz:SeniorUnsecuredDebtMember2020-09-300000025232cuz:A9YearUnsecuredSeniorNotesWithInterestRateof3.86Membercuz:SeniorUnsecuredDebtMember2019-12-310000025232cuz:A8YearUnsecuredSeniorNotesWithInterestRateof3.78Membercuz:SeniorUnsecuredDebtMember2020-09-300000025232cuz:A8YearUnsecuredSeniorNotesWithInterestRateof3.78Membercuz:SeniorUnsecuredDebtMember2019-12-310000025232cuz:TenYearNoteWithInterestRateOf409Membercuz:SeniorUnsecuredDebtMember2020-09-300000025232cuz:TenYearNoteWithInterestRateOf409Membercuz:SeniorUnsecuredDebtMember2019-12-310000025232cuz:UnsecuredNotesMember2020-09-300000025232cuz:UnsecuredNotesMember2019-12-310000025232cuz:FifthThirdCenterMemberus-gaap:MortgagesMember2020-09-300000025232cuz:FifthThirdCenterMemberus-gaap:MortgagesMember2019-12-310000025232cuz:Terminus100Memberus-gaap:MortgagesMember2020-09-300000025232cuz:Terminus100Memberus-gaap:MortgagesMember2019-12-310000025232cuz:ColoradoTowerMemberus-gaap:MortgagesMember2020-09-300000025232cuz:ColoradoTowerMemberus-gaap:MortgagesMember2019-12-310000025232cuz:PromenadeDAtlantaGaMemberus-gaap:MortgagesMember2020-09-300000025232cuz:PromenadeDAtlantaGaMemberus-gaap:MortgagesMember2019-12-310000025232cuz:A816CongressAustinTXMemberus-gaap:MortgagesMember2020-09-300000025232cuz:A816CongressAustinTXMemberus-gaap:MortgagesMember2019-12-310000025232cuz:Terminus200Memberus-gaap:MortgagesMember2020-09-300000025232cuz:Terminus200Memberus-gaap:MortgagesMember2019-12-310000025232cuz:LegacyUnionOneMemberus-gaap:MortgagesMember2020-09-300000025232cuz:LegacyUnionOneMemberus-gaap:MortgagesMember2019-12-310000025232cuz:MeridianMarkPlazaAtlantaMemberus-gaap:MortgagesMember2019-12-310000025232cuz:MeridianMarkPlazaAtlantaMemberus-gaap:MortgagesMember2020-09-300000025232us-gaap:MortgagesMember2020-09-300000025232us-gaap:MortgagesMember2019-12-310000025232us-gaap:LineOfCreditMember2020-09-300000025232srt:MinimumMemberus-gaap:LineOfCreditMember2020-01-012020-09-300000025232us-gaap:LineOfCreditMember2020-01-012020-09-300000025232us-gaap:LineOfCreditMembersrt:MaximumMember2020-01-012020-09-300000025232us-gaap:LineOfCreditMembersrt:MaximumMember2020-09-300000025232srt:MinimumMemberus-gaap:LondonInterbankOfferedRateLIBORMemberus-gaap:LineOfCreditMember2020-01-012020-09-300000025232us-gaap:LondonInterbankOfferedRateLIBORMemberus-gaap:LineOfCreditMembersrt:MaximumMember2020-01-012020-09-300000025232us-gaap:LineOfCreditMemberus-gaap:FederalFundsEffectiveSwapRateMember2020-01-012020-09-300000025232cuz:OnemonthLIBORMemberus-gaap:LineOfCreditMember2020-01-012020-09-300000025232us-gaap:BaseRateMembersrt:MinimumMemberus-gaap:LineOfCreditMember2020-01-012020-09-300000025232us-gaap:BaseRateMemberus-gaap:LineOfCreditMembersrt:MaximumMember2020-01-012020-09-300000025232us-gaap:LondonInterbankOfferedRateLIBORMemberus-gaap:LineOfCreditMember2020-01-012020-09-300000025232srt:MinimumMemberus-gaap:UnsecuredDebtMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-01-012020-09-300000025232us-gaap:UnsecuredDebtMemberus-gaap:LondonInterbankOfferedRateLIBORMembersrt:MaximumMember2020-01-012020-09-300000025232us-gaap:UnsecuredDebtMemberus-gaap:FederalFundsEffectiveSwapRateMember2020-01-012020-09-300000025232cuz:OnemonthLIBORMemberus-gaap:UnsecuredDebtMember2020-01-012020-09-300000025232us-gaap:BaseRateMembersrt:MinimumMemberus-gaap:UnsecuredDebtMember2020-01-012020-09-300000025232us-gaap:BaseRateMemberus-gaap:UnsecuredDebtMembersrt:MaximumMember2020-01-012020-09-300000025232us-gaap:UnsecuredDebtMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-01-012020-09-300000025232cuz:SeniorUnsecuredDebtMember2020-09-30cuz:tranche0000025232srt:MinimumMembercuz:SeniorUnsecuredDebtMember2020-01-012020-09-300000025232cuz:SeniorUnsecuredDebtMember2020-01-012020-09-300000025232cuz:SeniorUnsecuredDebtMembersrt:MaximumMember2020-09-300000025232cuz:SeniorUnsecuredDebtMembersrt:MaximumMember2020-01-012020-09-300000025232cuz:MeridianMarkPlazaAtlantaMemberus-gaap:MortgagesMember2020-02-0300000252322020-01-012020-03-31cuz:vote0000025232cuz:LiabilityClassifiedAwardsMember2020-07-012020-09-300000025232cuz:LiabilityClassifiedAwardsMember2019-07-012019-09-300000025232cuz:LiabilityClassifiedAwardsMember2020-01-012020-09-300000025232cuz:LiabilityClassifiedAwardsMember2019-01-012019-09-300000025232us-gaap:RestrictedStockUnitsRSUMember2020-01-012020-09-30cuz:award0000025232cuz:PerformanceBasedRestrictedStockUnitMember2020-09-300000025232cuz:MarketBasedRestrictedStockUnitMember2020-01-012020-09-300000025232cuz:PerformanceBasedRestrictedStockUnitMember2020-01-012020-09-300000025232us-gaap:ShareBasedPaymentArrangementNonemployeeMember2020-04-012020-06-300000025232cuz:FeeAndOtherRevenueMember2020-07-012020-09-300000025232cuz:FeeAndOtherRevenueMember2020-01-012020-09-300000025232cuz:FeeAndOtherRevenueMember2019-07-012019-09-300000025232cuz:FeeAndOtherRevenueMember2019-01-012019-09-300000025232srt:SubsidiariesMember2020-07-012020-09-300000025232srt:SubsidiariesMember2019-07-012019-09-300000025232srt:SubsidiariesMember2020-01-012020-09-300000025232srt:SubsidiariesMember2019-01-012019-09-300000025232cuz:OtherNoncontrollingInterestsMember2020-07-012020-09-300000025232cuz:OtherNoncontrollingInterestsMember2019-07-012019-09-300000025232cuz:OtherNoncontrollingInterestsMember2020-01-012020-09-300000025232cuz:OtherNoncontrollingInterestsMember2019-01-012019-09-300000025232us-gaap:EmployeeStockOptionMember2020-07-012020-09-300000025232us-gaap:EmployeeStockOptionMember2019-07-012019-09-300000025232us-gaap:EmployeeStockOptionMember2020-01-012020-09-300000025232us-gaap:EmployeeStockOptionMember2019-01-012019-09-300000025232us-gaap:RestrictedStockUnitsRSUMember2020-07-012020-09-300000025232us-gaap:RestrictedStockUnitsRSUMember2019-07-012019-09-300000025232us-gaap:RestrictedStockUnitsRSUMember2019-01-012019-09-300000025232us-gaap:EmployeeStockOptionMember2020-07-012020-09-300000025232us-gaap:EmployeeStockOptionMember2019-07-012019-09-300000025232us-gaap:EmployeeStockOptionMember2020-01-012020-09-300000025232us-gaap:EmployeeStockOptionMember2019-01-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:AtlantaGAMembercuz:OfficeSegmentMembercuz:RentalPropertiesMember2020-07-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:AtlantaGAMembercuz:MixedUseMembercuz:RentalPropertiesMember2020-07-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:AtlantaGAMembercuz:RentalPropertiesMember2020-07-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:OfficeSegmentMembercuz:AustinTXMembercuz:RentalPropertiesMember2020-07-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:MixedUseMembercuz:AustinTXMembercuz:RentalPropertiesMember2020-07-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:AustinTXMembercuz:RentalPropertiesMember2020-07-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:OfficeSegmentMembercuz:CharlotteNCMembercuz:RentalPropertiesMember2020-07-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:MixedUseMembercuz:CharlotteNCMembercuz:RentalPropertiesMember2020-07-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:CharlotteNCMembercuz:RentalPropertiesMember2020-07-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:DallasMembercuz:OfficeSegmentMembercuz:RentalPropertiesMember2020-07-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:DallasMembercuz:MixedUseMembercuz:RentalPropertiesMember2020-07-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:DallasMembercuz:RentalPropertiesMember2020-07-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:PhoenixArizonaMembercuz:OfficeSegmentMembercuz:RentalPropertiesMember2020-07-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:MixedUseMembercuz:PhoenixArizonaMembercuz:RentalPropertiesMember2020-07-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:PhoenixArizonaMembercuz:RentalPropertiesMember2020-07-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:TampaFloridaMembercuz:OfficeSegmentMembercuz:RentalPropertiesMember2020-07-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:MixedUseMembercuz:TampaFloridaMembercuz:RentalPropertiesMember2020-07-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:TampaFloridaMembercuz:RentalPropertiesMember2020-07-012020-09-300000025232cuz:OtherLocationMemberus-gaap:OperatingSegmentsMembercuz:OfficeSegmentMembercuz:RentalPropertiesMember2020-07-012020-09-300000025232cuz:OtherLocationMemberus-gaap:OperatingSegmentsMembercuz:MixedUseMembercuz:RentalPropertiesMember2020-07-012020-09-300000025232cuz:OtherLocationMemberus-gaap:OperatingSegmentsMembercuz:RentalPropertiesMember2020-07-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:OfficeSegmentMembercuz:RentalPropertiesMember2020-07-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:MixedUseMembercuz:RentalPropertiesMember2020-07-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:RentalPropertiesMember2020-07-012020-09-300000025232us-gaap:MaterialReconcilingItemsMembercuz:OfficeSegmentMembercuz:RentalPropertiesMember2020-07-012020-09-300000025232cuz:MixedUseMemberus-gaap:MaterialReconcilingItemsMembercuz:RentalPropertiesMember2020-07-012020-09-300000025232us-gaap:MaterialReconcilingItemsMembercuz:RentalPropertiesMember2020-07-012020-09-300000025232cuz:OfficeSegmentMembercuz:RentalPropertiesMember2020-07-012020-09-300000025232cuz:MixedUseMembercuz:RentalPropertiesMember2020-07-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:AtlantaGAMembercuz:OfficeSegmentMembercuz:RentalPropertiesMember2019-07-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:AtlantaGAMembercuz:MixedUseMembercuz:RentalPropertiesMember2019-07-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:AtlantaGAMembercuz:RentalPropertiesMember2019-07-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:OfficeSegmentMembercuz:AustinTXMembercuz:RentalPropertiesMember2019-07-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:MixedUseMembercuz:AustinTXMembercuz:RentalPropertiesMember2019-07-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:AustinTXMembercuz:RentalPropertiesMember2019-07-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:OfficeSegmentMembercuz:CharlotteNCMembercuz:RentalPropertiesMember2019-07-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:MixedUseMembercuz:CharlotteNCMembercuz:RentalPropertiesMember2019-07-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:CharlotteNCMembercuz:RentalPropertiesMember2019-07-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:DallasMembercuz:OfficeSegmentMembercuz:RentalPropertiesMember2019-07-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:DallasMembercuz:MixedUseMembercuz:RentalPropertiesMember2019-07-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:DallasMembercuz:RentalPropertiesMember2019-07-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:PhoenixArizonaMembercuz:OfficeSegmentMembercuz:RentalPropertiesMember2019-07-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:MixedUseMembercuz:PhoenixArizonaMembercuz:RentalPropertiesMember2019-07-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:PhoenixArizonaMembercuz:RentalPropertiesMember2019-07-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:TampaFloridaMembercuz:OfficeSegmentMembercuz:RentalPropertiesMember2019-07-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:MixedUseMembercuz:TampaFloridaMembercuz:RentalPropertiesMember2019-07-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:TampaFloridaMembercuz:RentalPropertiesMember2019-07-012019-09-300000025232cuz:OtherLocationMemberus-gaap:OperatingSegmentsMembercuz:OfficeSegmentMembercuz:RentalPropertiesMember2019-07-012019-09-300000025232cuz:OtherLocationMemberus-gaap:OperatingSegmentsMembercuz:MixedUseMembercuz:RentalPropertiesMember2019-07-012019-09-300000025232cuz:OtherLocationMemberus-gaap:OperatingSegmentsMembercuz:RentalPropertiesMember2019-07-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:OfficeSegmentMembercuz:RentalPropertiesMember2019-07-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:MixedUseMembercuz:RentalPropertiesMember2019-07-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:RentalPropertiesMember2019-07-012019-09-300000025232us-gaap:MaterialReconcilingItemsMembercuz:OfficeSegmentMembercuz:RentalPropertiesMember2019-07-012019-09-300000025232cuz:MixedUseMemberus-gaap:MaterialReconcilingItemsMembercuz:RentalPropertiesMember2019-07-012019-09-300000025232us-gaap:MaterialReconcilingItemsMembercuz:RentalPropertiesMember2019-07-012019-09-300000025232cuz:OfficeSegmentMembercuz:RentalPropertiesMember2019-07-012019-09-300000025232cuz:MixedUseMembercuz:RentalPropertiesMember2019-07-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:AtlantaGAMembercuz:OfficeSegmentMembercuz:RentalPropertiesMember2020-01-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:AtlantaGAMembercuz:MixedUseMembercuz:RentalPropertiesMember2020-01-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:AtlantaGAMembercuz:RentalPropertiesMember2020-01-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:OfficeSegmentMembercuz:AustinTXMembercuz:RentalPropertiesMember2020-01-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:MixedUseMembercuz:AustinTXMembercuz:RentalPropertiesMember2020-01-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:AustinTXMembercuz:RentalPropertiesMember2020-01-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:OfficeSegmentMembercuz:CharlotteNCMembercuz:RentalPropertiesMember2020-01-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:MixedUseMembercuz:CharlotteNCMembercuz:RentalPropertiesMember2020-01-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:CharlotteNCMembercuz:RentalPropertiesMember2020-01-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:DallasMembercuz:OfficeSegmentMembercuz:RentalPropertiesMember2020-01-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:DallasMembercuz:MixedUseMembercuz:RentalPropertiesMember2020-01-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:DallasMembercuz:RentalPropertiesMember2020-01-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:PhoenixArizonaMembercuz:OfficeSegmentMembercuz:RentalPropertiesMember2020-01-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:MixedUseMembercuz:PhoenixArizonaMembercuz:RentalPropertiesMember2020-01-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:PhoenixArizonaMembercuz:RentalPropertiesMember2020-01-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:TampaFloridaMembercuz:OfficeSegmentMembercuz:RentalPropertiesMember2020-01-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:MixedUseMembercuz:TampaFloridaMembercuz:RentalPropertiesMember2020-01-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:TampaFloridaMembercuz:RentalPropertiesMember2020-01-012020-09-300000025232cuz:OtherLocationMemberus-gaap:OperatingSegmentsMembercuz:OfficeSegmentMembercuz:RentalPropertiesMember2020-01-012020-09-300000025232cuz:OtherLocationMemberus-gaap:OperatingSegmentsMembercuz:MixedUseMembercuz:RentalPropertiesMember2020-01-012020-09-300000025232cuz:OtherLocationMemberus-gaap:OperatingSegmentsMembercuz:RentalPropertiesMember2020-01-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:OfficeSegmentMembercuz:RentalPropertiesMember2020-01-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:MixedUseMembercuz:RentalPropertiesMember2020-01-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:RentalPropertiesMember2020-01-012020-09-300000025232us-gaap:MaterialReconcilingItemsMembercuz:OfficeSegmentMembercuz:RentalPropertiesMember2020-01-012020-09-300000025232cuz:MixedUseMemberus-gaap:MaterialReconcilingItemsMembercuz:RentalPropertiesMember2020-01-012020-09-300000025232us-gaap:MaterialReconcilingItemsMembercuz:RentalPropertiesMember2020-01-012020-09-300000025232cuz:OfficeSegmentMembercuz:RentalPropertiesMember2020-01-012020-09-300000025232cuz:MixedUseMembercuz:RentalPropertiesMember2020-01-012020-09-300000025232us-gaap:OperatingSegmentsMembercuz:AtlantaGAMembercuz:OfficeSegmentMembercuz:RentalPropertiesMember2019-01-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:AtlantaGAMembercuz:MixedUseMembercuz:RentalPropertiesMember2019-01-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:AtlantaGAMembercuz:RentalPropertiesMember2019-01-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:OfficeSegmentMembercuz:AustinTXMembercuz:RentalPropertiesMember2019-01-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:MixedUseMembercuz:AustinTXMembercuz:RentalPropertiesMember2019-01-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:AustinTXMembercuz:RentalPropertiesMember2019-01-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:OfficeSegmentMembercuz:CharlotteNCMembercuz:RentalPropertiesMember2019-01-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:MixedUseMembercuz:CharlotteNCMembercuz:RentalPropertiesMember2019-01-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:CharlotteNCMembercuz:RentalPropertiesMember2019-01-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:DallasMembercuz:OfficeSegmentMembercuz:RentalPropertiesMember2019-01-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:DallasMembercuz:MixedUseMembercuz:RentalPropertiesMember2019-01-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:DallasMembercuz:RentalPropertiesMember2019-01-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:PhoenixArizonaMembercuz:OfficeSegmentMembercuz:RentalPropertiesMember2019-01-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:MixedUseMembercuz:PhoenixArizonaMembercuz:RentalPropertiesMember2019-01-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:PhoenixArizonaMembercuz:RentalPropertiesMember2019-01-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:TampaFloridaMembercuz:OfficeSegmentMembercuz:RentalPropertiesMember2019-01-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:MixedUseMembercuz:TampaFloridaMembercuz:RentalPropertiesMember2019-01-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:TampaFloridaMembercuz:RentalPropertiesMember2019-01-012019-09-300000025232cuz:OtherLocationMemberus-gaap:OperatingSegmentsMembercuz:OfficeSegmentMembercuz:RentalPropertiesMember2019-01-012019-09-300000025232cuz:OtherLocationMemberus-gaap:OperatingSegmentsMembercuz:MixedUseMembercuz:RentalPropertiesMember2019-01-012019-09-300000025232cuz:OtherLocationMemberus-gaap:OperatingSegmentsMembercuz:RentalPropertiesMember2019-01-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:OfficeSegmentMembercuz:RentalPropertiesMember2019-01-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:MixedUseMembercuz:RentalPropertiesMember2019-01-012019-09-300000025232us-gaap:OperatingSegmentsMembercuz:RentalPropertiesMember2019-01-012019-09-300000025232us-gaap:MaterialReconcilingItemsMembercuz:OfficeSegmentMembercuz:RentalPropertiesMember2019-01-012019-09-300000025232cuz:MixedUseMemberus-gaap:MaterialReconcilingItemsMembercuz:RentalPropertiesMember2019-01-012019-09-300000025232us-gaap:MaterialReconcilingItemsMembercuz:RentalPropertiesMember2019-01-012019-09-300000025232cuz:OfficeSegmentMembercuz:RentalPropertiesMember2019-01-012019-09-300000025232cuz:MixedUseMembercuz:RentalPropertiesMember2019-01-012019-09-300000025232cuz:AtlantaGAMembercuz:OfficeSegmentMember2020-07-012020-09-300000025232cuz:AtlantaGAMembercuz:MixedUseMember2020-07-012020-09-300000025232cuz:AtlantaGAMember2020-07-012020-09-300000025232cuz:OfficeSegmentMembercuz:AustinTXMember2020-07-012020-09-300000025232cuz:MixedUseMembercuz:AustinTXMember2020-07-012020-09-300000025232cuz:AustinTXMember2020-07-012020-09-300000025232cuz:OfficeSegmentMembercuz:CharlotteNCMember2020-07-012020-09-300000025232cuz:MixedUseMembercuz:CharlotteNCMember2020-07-012020-09-300000025232cuz:CharlotteNCMember2020-07-012020-09-300000025232cuz:DallasMembercuz:OfficeSegmentMember2020-07-012020-09-300000025232cuz:DallasMembercuz:MixedUseMember2020-07-012020-09-300000025232cuz:DallasMember2020-07-012020-09-300000025232cuz:PhoenixArizonaMembercuz:OfficeSegmentMember2020-07-012020-09-300000025232cuz:MixedUseMembercuz:PhoenixArizonaMember2020-07-012020-09-300000025232cuz:PhoenixArizonaMember2020-07-012020-09-300000025232cuz:TampaFloridaMembercuz:OfficeSegmentMember2020-07-012020-09-300000025232cuz:MixedUseMembercuz:TampaFloridaMember2020-07-012020-09-300000025232cuz:TampaFloridaMember2020-07-012020-09-300000025232cuz:OtherLocationMembercuz:OfficeSegmentMember2020-07-012020-09-300000025232cuz:OtherLocationMembercuz:MixedUseMember2020-07-012020-09-300000025232cuz:OtherLocationMember2020-07-012020-09-300000025232cuz:OfficeSegmentMember2020-07-012020-09-300000025232cuz:MixedUseMember2020-07-012020-09-300000025232cuz:AtlantaGAMembercuz:OfficeSegmentMember2019-07-012019-09-300000025232cuz:AtlantaGAMembercuz:MixedUseMember2019-07-012019-09-300000025232cuz:AtlantaGAMember2019-07-012019-09-300000025232cuz:OfficeSegmentMembercuz:AustinTXMember2019-07-012019-09-300000025232cuz:MixedUseMembercuz:AustinTXMember2019-07-012019-09-300000025232cuz:AustinTXMember2019-07-012019-09-300000025232cuz:OfficeSegmentMembercuz:CharlotteNCMember2019-07-012019-09-300000025232cuz:MixedUseMembercuz:CharlotteNCMember2019-07-012019-09-300000025232cuz:CharlotteNCMember2019-07-012019-09-300000025232cuz:DallasMembercuz:OfficeSegmentMember2019-07-012019-09-300000025232cuz:DallasMembercuz:MixedUseMember2019-07-012019-09-300000025232cuz:DallasMember2019-07-012019-09-300000025232cuz:PhoenixArizonaMembercuz:OfficeSegmentMember2019-07-012019-09-300000025232cuz:MixedUseMembercuz:PhoenixArizonaMember2019-07-012019-09-300000025232cuz:PhoenixArizonaMember2019-07-012019-09-300000025232cuz:TampaFloridaMembercuz:OfficeSegmentMember2019-07-012019-09-300000025232cuz:MixedUseMembercuz:TampaFloridaMember2019-07-012019-09-300000025232cuz:TampaFloridaMember2019-07-012019-09-300000025232cuz:OtherLocationMembercuz:OfficeSegmentMember2019-07-012019-09-300000025232cuz:OtherLocationMembercuz:MixedUseMember2019-07-012019-09-300000025232cuz:OtherLocationMember2019-07-012019-09-300000025232cuz:OfficeSegmentMember2019-07-012019-09-300000025232cuz:MixedUseMember2019-07-012019-09-300000025232cuz:AtlantaGAMembercuz:OfficeSegmentMember2020-01-012020-09-300000025232cuz:AtlantaGAMembercuz:MixedUseMember2020-01-012020-09-300000025232cuz:AtlantaGAMember2020-01-012020-09-300000025232cuz:OfficeSegmentMembercuz:AustinTXMember2020-01-012020-09-300000025232cuz:MixedUseMembercuz:AustinTXMember2020-01-012020-09-300000025232cuz:AustinTXMember2020-01-012020-09-300000025232cuz:OfficeSegmentMembercuz:CharlotteNCMember2020-01-012020-09-300000025232cuz:MixedUseMembercuz:CharlotteNCMember2020-01-012020-09-300000025232cuz:CharlotteNCMember2020-01-012020-09-300000025232cuz:DallasMembercuz:OfficeSegmentMember2020-01-012020-09-300000025232cuz:DallasMembercuz:MixedUseMember2020-01-012020-09-300000025232cuz:DallasMember2020-01-012020-09-300000025232cuz:PhoenixArizonaMembercuz:OfficeSegmentMember2020-01-012020-09-300000025232cuz:MixedUseMembercuz:PhoenixArizonaMember2020-01-012020-09-300000025232cuz:PhoenixArizonaMember2020-01-012020-09-300000025232cuz:TampaFloridaMembercuz:OfficeSegmentMember2020-01-012020-09-300000025232cuz:MixedUseMembercuz:TampaFloridaMember2020-01-012020-09-300000025232cuz:TampaFloridaMember2020-01-012020-09-300000025232cuz:OtherLocationMembercuz:OfficeSegmentMember2020-01-012020-09-300000025232cuz:OtherLocationMembercuz:MixedUseMember2020-01-012020-09-300000025232cuz:OtherLocationMember2020-01-012020-09-300000025232cuz:OfficeSegmentMember2020-01-012020-09-300000025232cuz:MixedUseMember2020-01-012020-09-300000025232cuz:AtlantaGAMembercuz:OfficeSegmentMember2019-01-012019-09-300000025232cuz:AtlantaGAMembercuz:MixedUseMember2019-01-012019-09-300000025232cuz:AtlantaGAMember2019-01-012019-09-300000025232cuz:OfficeSegmentMembercuz:AustinTXMember2019-01-012019-09-300000025232cuz:MixedUseMembercuz:AustinTXMember2019-01-012019-09-300000025232cuz:AustinTXMember2019-01-012019-09-300000025232cuz:OfficeSegmentMembercuz:CharlotteNCMember2019-01-012019-09-300000025232cuz:MixedUseMembercuz:CharlotteNCMember2019-01-012019-09-300000025232cuz:CharlotteNCMember2019-01-012019-09-300000025232cuz:DallasMembercuz:OfficeSegmentMember2019-01-012019-09-300000025232cuz:DallasMembercuz:MixedUseMember2019-01-012019-09-300000025232cuz:DallasMember2019-01-012019-09-300000025232cuz:PhoenixArizonaMembercuz:OfficeSegmentMember2019-01-012019-09-300000025232cuz:MixedUseMembercuz:PhoenixArizonaMember2019-01-012019-09-300000025232cuz:PhoenixArizonaMember2019-01-012019-09-300000025232cuz:TampaFloridaMembercuz:OfficeSegmentMember2019-01-012019-09-300000025232cuz:MixedUseMembercuz:TampaFloridaMember2019-01-012019-09-300000025232cuz:TampaFloridaMember2019-01-012019-09-300000025232cuz:OtherLocationMembercuz:OfficeSegmentMember2019-01-012019-09-300000025232cuz:OtherLocationMembercuz:MixedUseMember2019-01-012019-09-300000025232cuz:OtherLocationMember2019-01-012019-09-300000025232cuz:OfficeSegmentMember2019-01-012019-09-300000025232cuz:MixedUseMember2019-01-012019-09-300000025232cuz:TerminationFeeMember2020-07-012020-09-300000025232cuz:TerminationFeeMember2019-07-012019-09-300000025232cuz:TerminationFeeMember2020-01-012020-09-300000025232cuz:TerminationFeeMember2019-01-012019-09-30
Table of Contents

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
 QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2020
OR
 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from                      to                     
Commission file number: 001-11312
COUSINS PROPERTIES INCORPORATED
(Exact name of registrant as specified in its charter)
Georgia58-0869052
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)
3344 Peachtree Road NESuite 1800AtlantaGeorgia30326-4802
(Address of principal executive offices)(Zip Code)
(404407-1000
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $1 par value per shareCUZNew York Stock Exchange ("NYSE")
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company”, and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filerAccelerated filer
Non-accelerated filerSmaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes No
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.
Class Outstanding at October 21, 2020
Common Stock, $1 par value per share 148,564,356 shares


Table of Contents

Page No.


Table of Contents

FORWARD-LOOKING STATEMENTS

Certain matters contained in this report are “forward-looking statements” within the meaning of the federal securities laws and are subject to uncertainties and risks, as itemized in Item 1A included in the Annual Report on Form 10-K for the year ended December 31, 2019, and as itemized herein. These forward-looking statements include information about possible or assumed future results of the business and our financial condition, liquidity, results of operations, plans, and objectives. They also include, among other things, statements regarding subjects that are forward-looking by their nature, such as:
guidance and underlying assumptions;
business and financial strategy;
future debt financings;
future acquisitions and dispositions of operating assets or joint venture interests;
future acquisitions and dispositions of land, including ground leases;
future development and redevelopment opportunities, including fee development opportunities;
future issuances and repurchases of common stock;
future distributions;
projected capital expenditures;
market and industry trends;
entry into new markets;
future changes in interest rates; and
all statements that address operating performance, events, or developments that we expect or anticipate will occur in the future — including statements relating to creating value for stockholders.
Any forward-looking statements are based upon management's beliefs, assumptions, and expectations of our future performance, taking into account information that is currently available. These beliefs, assumptions, and expectations may change as a result of possible events or factors, not all of which are known. If a change occurs, our business, financial condition, liquidity, and results of operations may vary materially from those expressed in forward-looking statements. Actual results may vary from forward-looking statements due to, but not limited to, the following:
the availability and terms of capital;
the ability to refinance or repay indebtedness as it matures;
the failure of purchase, sale, or other contracts to ultimately close;
the failure to achieve anticipated benefits from acquisitions, investments, or dispositions;
the potential dilutive effect of common stock or operating partnership unit issuances;
the availability of buyers and pricing with respect to the disposition of assets;
changes in national and local economic conditions, the real estate industry, and the commercial real estate markets in which we operate, particularly in Atlanta, Austin, Charlotte, Phoenix, Tampa, and Dallas where we have high concentrations of our lease revenues, including the impact of high unemployment, volatility in the public equity and debt markets, and international economic and other conditions;
the impact of a public health crisis, including the COVID-19 pandemic, and the governmental and third-party response to such a crisis, which may affect our key personnel, our tenants, and the costs of operating our assets;
the impact of social distancing, shelter-in-place, border closings, travel restrictions, remote work requirements, and similar governmental and private measures taken to combat the spread of the COVID-19 pandemic on our operations and our tenants;
changes to our strategy with regard to land and other non-core holdings that may require impairment losses to be recognized;
leasing risks, including the ability to obtain new tenants or renew expiring tenants, the ability to lease newly developed and/or recently acquired space, the failure of a tenant to commence or complete tenant improvements on schedule or to occupy leased space, and the risk of declining leasing rates;
changes in the needs of our tenants brought about by the desire for co-working arrangements, trends toward utilizing less office space per employee, and the effect of telecommuting;
any adverse change in the financial condition of one or more of our tenants;
volatility in interest rates and insurance rates;
competition from other developers or investors;
the risks associated with real estate developments (such as zoning approval, receipt of required permits, construction delays, cost overruns, and leasing risk);
cyber security breaches;
changes in senior management, changes in the Board of Directors, and the loss of key personnel;
the potential liability for uninsured losses, condemnation, or environmental issues;
the potential liability for a failure to meet regulatory requirements;
2

Table of Contents

the financial condition and liquidity of, or disputes with, joint venture partners;
any failure to comply with debt covenants under credit agreements;
any failure to continue to qualify for taxation as a real estate investment trust and meet regulatory requirements;
potential changes to state, local, or federal regulations applicable to our business;
material changes in the rates, or the ability to pay, dividends on common shares or other securities;
potential changes to the tax laws impacting REITs and real estate in general; and
those additional risks and factors discussed in reports filed with the Securities and Exchange Commission (“SEC”) by the Company.

The words “believes,” “expects,” “anticipates,” “estimates,” “plans,” “may,” “intend,” “will,” or similar expressions are intended to identify forward-looking statements. Although we believe that our plans, intentions, and expectations reflected in any forward-looking statements are reasonable, we can give no assurance that such plans, intentions, or expectations will be achieved. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information, or otherwise, except as required under U.S. federal securities laws.
3

Table of Contents

PART I — FINANCIAL INFORMATION
Item 1.    Financial Statements.

COUSINS PROPERTIES INCORPORATED AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share amounts)
September 30, 2020December 31, 2019
 (unaudited) 
Assets:  
Real estate assets: 
Operating properties, net of accumulated depreciation of $750,662 and $577,139 in 2020 and 2019, respectively
$6,144,004 $5,669,324 
Projects under development52,759 410,097 
Land108,213 116,860 
6,304,976 6,196,281 
Real estate assets and other assets held for sale, net of accumulated depreciation and amortization of $61,093 in 2019
 360,582 
Cash and cash equivalents36,872 15,603 
Restricted cash1,847 2,005 
Notes and accounts receivable18,561 23,680 
Deferred rents receivable132,689 102,314 
Investment in unconsolidated joint ventures129,814 133,884 
Intangible assets, net209,434 257,649 
Other assets52,403 59,449 
Total assets$6,886,596 $7,151,447 
Liabilities:
Notes payable$1,934,905 $2,222,975 
Accounts payable and accrued expenses183,023 209,904 
Deferred income58,404 52,269 
Intangible liabilities, net of accumulated amortization of $70,894 and $55,798 in 2020 and 2019, respectively
68,009 83,105 
Other liabilities115,162 134,128 
Liabilities of real estate assets held for sale, net of accumulated amortization of $7,771 in 2019
 21,231 
Total liabilities2,359,503 2,723,612 
Commitments and contingencies
Equity:
  Stockholders' investment:  
Preferred stock, $1 par value, 20,000,000 shares authorized, 1,716,837 shares issued and outstanding in 2019
 1,717 
Common stock, $1 par value, 300,000,000 shares authorized, 151,149,289 and 149,347,382 shares issued, and 148,564,356 and 146,762,449 shares outstanding in 2020 and 2019, respectively
151,149 149,347 
Additional paid-in capital5,541,879 5,493,883 
Treasury stock at cost, 2,584,933 shares in 2020 and 2019
(148,473)(148,473)
Distributions in excess of cumulative net income(1,044,743)(1,137,200)
Total stockholders' investment4,499,812 4,359,274 
Nonredeemable noncontrolling interests27,281 68,561 
Total equity4,527,093 4,427,835 
Total liabilities and equity$6,886,596 $7,151,447 
See accompanying notes.
4

Table of Contents

COUSINS PROPERTIES INCORPORATED AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited; in thousands, except per share amounts)

Three Months EndedNine Months Ended
September 30,September 30,
 2020201920202019
Revenues:  
Rental property revenues$179,024 $180,826 $543,252 $439,624 
Fee income4,350 7,494 13,772 23,298 
Other6 3 169 154 
 183,380 188,323 557,193 463,076 
Expenses:  
Rental property operating expenses62,844 65,646 189,003 155,838 
Reimbursed expenses373 1,290 1,216 3,269 
General and administrative expenses5,658 5,852 19,853 25,686 
Interest expense15,058 14,700 44,955 37,579 
Depreciation and amortization71,498 82,012 215,980 178,777 
Transaction costs 1,048 428 50,878 
Other723 297 1,841 1,101 
156,154 170,845 473,276 453,128 
Income from unconsolidated joint ventures1,611 3,241 6,751 9,779 
Gain (loss) on sales of investments in unconsolidated joint ventures(59) 45,940  
Gain (loss) on investment property transactions(523)(27)90,192 14,388 
Net income28,255 20,692 226,800 34,115 
Net income attributable to noncontrolling interests(140)(318)(641)(809)
Net income available to common stockholders$28,115 $20,374 $226,159 $33,306 

  
Net income per common share — basic
$0.19 $0.14 $1.53 $0.27 
Net income per common share — diluted$0.19 $0.14 $1.52 $0.27 
Weighted average shares — basic148,566 146,762 148,181 121,758 
Weighted average shares — diluted148,606 148,530 148,586 123,529 

See accompanying notes.
5

Table of Contents

COUSINS PROPERTIES INCORPORATED AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY
(unaudited; in thousands except per share amounts)

Three Months Ended September 30, 2020
Preferred
Stock
Common
Stock
Additional
Paid-In
Capital
Treasury
Stock
Distributions in
Excess of
Net Income
Stockholders’
Investment
Nonredeemable
Noncontrolling
Interests
Total
Equity
Balance June 30, 2020$ $151,153 $5,540,945 $(148,473)$(1,028,289)$4,515,336 $24,993 $4,540,329 
Net income— — — — 28,115 28,115 140 28,255 
Amortization of stock options, restricted stock, and restricted stock units, net of forfeitures
— (4)934 — — 930 — 930 
Contributions from nonredeemable noncontrolling interests
— — — — — — 2,317 2,317 
Distributions to nonredeemable noncontrolling interests
— — — — — — (169)(169)
Common dividends ($0.30 per share)
— — — — (44,569)(44,569)— (44,569)
Balance September 30, 2020$ $151,149 $5,541,879 $(148,473)$(1,044,743)$4,499,812 $27,281 $4,527,093 
Three Months Ended September 30, 2019
Preferred
Stock
Common
Stock
Additional
Paid-In
Capital
Treasury
Stock
Distributions in
Excess of
Net Income
Stockholders’
Investment
Nonredeemable
Noncontrolling
Interests
Total
Equity
Balance June 30, 2019$1,717 $149,348 $5,492,648 $(148,473)$(1,189,567)$4,305,673 $63,945 $4,369,618 
Net income— — — — 20,374 20,374 318 20,692 
Amortization of stock options and restricted stock, net of forfeitures
— (1)617 — — 616 — 616 
Contributions from nonredeemable noncontrolling interests
— — — — — — 1,191 1,191 
Distributions to nonredeemable noncontrolling interests
— — — — — — (480)(480)
Common dividends ($0.29 per share)
— — — — (42,559)(42,559)— (42,559)
Balance September 30, 2019
$1,717 $149,347 $5,493,265 $(148,473)$(1,211,752)$4,284,104 $64,974 $4,349,078 
See accompanying notes.






















6

Table of Contents

COUSINS PROPERTIES INCORPORATED AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY
(unaudited; in thousands except per share amounts)

Nine Months Ended September 30, 2020
Preferred
Stock
Common
Stock
Additional
Paid-In
Capital
Treasury
Stock
Distributions in
Excess of
Net Income
Stockholders’
Investment
Nonredeemable
Noncontrolling
Interests
Total
Equity
Balance December 31, 2019$1,717 $149,347 $5,493,883 $(148,473)$(1,137,200)$4,359,274 $68,561 $4,427,835 
Net income— — — — 226,159 226,159 641 226,800 
Common stock issued pursuant to stock based compensation
— 90 (397)— — (307)— (307)
Common stock issued pursuant to unitholder redemption
(1,717)1,719 45,032 — — 45,034 (45,034) 
Amortization of stock options, restricted stock, and restricted stock units, net of forfeitures
— (7)3,361 — — 3,354 — 3,354 
Contributions from nonredeemable noncontrolling interests
— — — — — — 4,133 4,133 
Distributions to nonredeemable noncontrolling interests
— — — — — — (1,020)(1,020)
Common dividends ($0.90 per share)
— — — — (133,702)(133,702)— (133,702)
Balance September 30, 2020$ $151,149 $5,541,879 $(148,473)$(1,044,743)$4,499,812 $27,281 $4,527,093 
Nine Months Ended September 30, 2019
Preferred
Stock
Common
Stock
Additional
Paid-In
Capital
Treasury
Stock
Distributions in
Excess of
Net Income
Stockholders’
Investment
Nonredeemable
Noncontrolling
Interests
Total
Equity
Balance December 31, 2018$1,717 $107,681 $3,934,385 $(148,473)$(1,129,445)$2,765,865 $55,291 $2,821,156 
Net income— — — — 33,306 33,306 809 34,115 
Common stock issued in merger— 41,576 1,556,613 — — 1,598,189 — 1,598,189 
Common stock issued pursuant to stock based compensation
— 91 419 — — 510 — 510 
Amortization of stock options and restricted stock, net of forfeitures
— (1)1,848 — — 1,847 — 1,847 
Nonredeemable noncontrolling
interests acquired in merger
— — — — — — 5,348 5,348 
Contributions from nonredeemable noncontrolling interests
— — — — — — 5,271 5,271 
Distributions to nonredeemable noncontrolling interests
— — — — — — (1,745)(1,745)
Common dividends ($0.87 per share)
— — — — (115,613)(115,613)— (115,613)
Balance September 30, 2019$1,717 $149,347 $5,493,265 $(148,473)$(1,211,752)$4,284,104 $64,974 $4,349,078 
See accompanying notes.
7

Table of Contents

COUSINS PROPERTIES INCORPORATED AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited; in thousands)
Nine Months Ended September 30,
20202019
CASH FLOWS FROM OPERATING ACTIVITIES:  
Net income $226,800 $34,115 
Adjustments to reconcile net income to net cash provided by operating activities:  
Gain on sales of investments in unconsolidated joint ventures(45,940) 
Gain on investment properties transactions(90,192)(14,388)
Depreciation and amortization215,980 178,777 
Amortization of deferred financing costs and premium/discount on notes payable(671)1,723 
Stock-based compensation expense, net of forfeitures4,415 3,209 
Effect of non-cash adjustments to revenues(41,614)(31,166)
Income from unconsolidated joint ventures(6,751)(9,779)
Operating distributions from unconsolidated joint ventures5,940 6,125 
Changes in other operating assets and liabilities: 
Change in other receivables and other assets, net(715)(13,638)
Change in operating liabilities, net(8,245)43,387 
Net cash provided by operating activities259,007 198,365 
CASH FLOWS FROM INVESTING ACTIVITIES:  
Proceeds from investment property sales435,539 58,968 
Proceeds from sales of investments in unconsolidated joint ventures52,815  
Property acquisition, development, and tenant asset expenditures(306,102)(252,034)
Investment in unconsolidated joint ventures(3,752)(21,476)
Distributions from unconsolidated joint ventures 11 
Cash and restricted cash acquired in merger 85,989 
Change in notes receivable and other assets(167)(71)
Net cash provided by (used in) investing activities178,333 (128,613)
CASH FLOWS FROM FINANCING ACTIVITIES:  
Proceeds from credit facility319,500 904,000 
Repayment of credit facility(571,000)(824,000)
Repayment of notes payable(34,710)(687,207)
Issuance of unsecured senior notes 650,000 
Payment of deferred financing costs(70)(2,866)
Contributions from nonredeemable noncontrolling interests4,133 5,271 
Distributions to nonredeemable noncontrolling interests(1,020)(1,745)
Common dividends paid(131,694)(100,372)
Other(1,368)(864)
Net cash used in financing activities(416,229)(57,783)
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH21,111 11,969 
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD17,608 2,695 
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD$38,719 $14,664 
See accompanying notes.
8

Table of Contents

COUSINS PROPERTIES INCORPORATED AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
September 30, 2020
(Unaudited)
1. DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION
Description of Business: Cousins Properties Incorporated (“Cousins”), a Georgia corporation, is a self-administered and self-managed real estate investment trust (“REIT”). Cousins conducts substantially all of its operations through Cousins Properties LP ("CPLP"). Cousins owns over 99% of CPLP and consolidates CPLP. CPLP owns Cousins TRS Services LLC ("CTRS"), a taxable entity which owns and manages its own real estate portfolio and performs certain real estate related services for other parties.
Cousins, CPLP, CTRS, and their subsidiaries (collectively, the "Company") develop, acquire, lease, manage, and own Class A office and mixed-use properties in Sun Belt markets with a focus on Georgia, Texas, North Carolina, Arizona, and Florida. Cousins has elected to be taxed as a REIT and intends to, among other things, distribute 100% of its net taxable income to stockholders, thereby eliminating any liability for federal income taxes under current law. Therefore, the results included herein do not include a federal income tax provision for Cousins. As of September 30, 2020, the Company's portfolio of real estate assets consisted of interests in 19.0 million square feet of office space and 310,000 square feet of mixed-use space.
Basis of Presentation: The condensed consolidated financial statements are unaudited and were prepared by the Company in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, these financial statements reflect all adjustments necessary (which adjustments are of a normal and recurring nature) for the fair presentation of the Company's financial position as of September 30, 2020 and the results of operations for the three and nine months ended September 30, 2020 and 2019. The results of operations for the three and nine months ended September 30, 2020 are not necessarily indicative of results expected for the full year. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2019. The accounting policies employed are substantially the same as those shown in note 2 to the consolidated financial statements included therein.
On June 14, 2019, the Company restated and amended its articles of incorporation to effect a reverse stock split of the issued and outstanding shares of its common and preferred stock pursuant to which (1) each four shares of the Company's issued and outstanding common stock and preferred stock were combined into one share of the Company's common or preferred stock, respectively, and (2) the authorized number of the Company's common stock was proportionally reduced to 175 million shares. Fractional shares of common stock resulting from the reverse stock split were settled in cash. Fractional shares of preferred stock resulting from the reverse stock split were redeemed without payout. Immediately thereafter, the Company further amended its articles of incorporation to increase the number of authorized shares of its common stock from 175 million to 300 mil