Cousins Properties Incorporated 2006 Annual Report - SNL Financial

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S-1 Description Encumbrances COUSINS PROPERTIES INCORPORATED AND CONSOLIDATED ENTITIES REAL ESTATE AND ACCUMULATED DEPRECIATION DECEMBER 31, 2006 ($ in thousands) Land and Improvements Initial Cost to Company Buildings and Improvements Costs Capitalized Subsequent to Acquisition Land and Improvements Buildings and Improvements Less Cost of Sales and Other Gross Amount at Which Carried at End of Period Land and Improvements Buildings and Improvements Less Cost of Sales and Other Total (a) AccumulatedDepreciation(a) Date of Construction/ Renovation SCHEDULE III (PAGE 1 of 5) Date Acquired Life on Which Depreciation in 2006 Statement of Income is Computed(b) LAND HELD FOR INVESTMENT OR FUTURE DEVELOPMENT North Point Land — Suburban Atlanta, GA . . . .... Terminus Land — — $10,294 $ — $23,004 $(28,098) $ 33,298 $(28,098) $ 5,200 $ — — 1970-1985 — Atlanta, GA ............. King Mill Distribution Park — — 18,745 — 5,820 — 24,565 — 24,565 — — 2005 — Suburban Atlanta, GA . . . .... Jefferson Mill Business Park — — 10,528 — 1,507 — 12,035 — 12,035 — — 2005 — Suburban Atlanta, GA . . . .... Lakeside Ranch Business Park — — 14,223 — — (196) 14,223 (196) 14,027 — — 2006 — Dallas, TX .............. 615 Peachtree Street — — 6,328 — 71 — 6,399 — 6,399 — — 2006 — Atlanta, GA ............. Wildwood Land — — 4,740 7,229 — (1,925) 10,044 — 10,044 — — 1996 — Suburban Atlanta, GA . . . .... Round Rock/ Austin, Texas Land — — 10,214 — 4,961 (14,292) 15,175 (14,292) 883 — — 1971-1989 — Austin, TX ............. Land Adjacent to The Avenue Carriage Crossing — Memphis, — 12,802 — 4,283 — 17,085 — 17,085 — — 2005 — TN .................. 505, 511, 555 and 557 Peachtree — 4,816 — 1,368 (1,285) 6,184 (1,285) 4,899 — — 2004 — Street — Atlanta, GA . . . .... Total Land Held for Investment — 6,253 — — — 6,253 — 6,253 — — 2004/2006 — or Future Development .... — 98,943 7,229 41,014 (45,796) 145,261 (43,871) 101,390 — OPERATING PROPERTIES Office & Medical Office Inforum — Atlanta, GA . . . .... — 5,226 67,370 — 7,239 5,226 74,609 79,835 41,411 — 1999 25 Years Galleria 75 — Atlanta, GA . .... The Points of Waterview — Dallas, — 6,673 4,743 — 318 6,673 5,061 11,734 1,501 — 2004 25 Years TX .................. 18,183 2,558 22,910 — 4,926 2,558 27,836 30,394 8,019 — 2000 25 Years
S-2 Description Encumbrances COUSINS PROPERTIES INCORPORATED AND CONSOLIDATED ENTITIES REAL ESTATE AND ACCUMULATED DEPRECIATION DECEMBER 31, 2006 ($ in thousands) Land and Improvements Initial Cost to Company Buildings and Improvements Costs Capitalized Subsequent to Acquisition Land and Improvements Buildings and Improvements Less Cost of Sales and Other Gross Amount at Which Carried at End of Period Land and Improvements Buildings and Improvements Less Cost of Sales and Other Total (a) AccumulatedDepreciation(a) Date of Construction/ Renovation SCHEDULE III (PAGE 2 of 5) Date Acquired Life on Which Depreciation in 2006 Statement of Income is Computed(b) Office and Medical Office (continued) Lakeshore Park Plaza — Birmingham, AL . . . ....... 600 University Park Place — $ 9,082 $ 3,362 $ 12,261 $ — $ 2,474 $ 3,362 $ 14,735 $ 18,097 $ 4,122 — 1998 30 Years Birmingham, AL . . . ....... 333 North Point Center East — 13,168 1,899 — — 16,700 1,899 16,700 18,599 4,331 1998 1998 30 Years Suburban Atlanta, GA ....... 555 North Point Center East — 29,571(c) 551 — — 12,905 551 12,905 13,456 4,712 1996 1996 30 Years Suburban Atlanta, GA ....... One Georgia Center — —(c) 368 — — 17,224 368 17,224 17,592 5,006 1998 1998 30 Years Atlanta, GA . ............ 3100 Windy Hill Road — — 9,267 27,079 — 5,790 9,267 32,869 42,136 6,569 — 2000 30 Years Atlanta, GA . ............ 3301 Windy Ridge Parkway — — 309 17,005 — — 309 17,005 17,314 6,869 1997 1997 25 Years Atlanta, GA . ............ 100 North Point Center East — — 20 — 478 11,915 498 11,915 12,413 7,064 1984 1984 40 Years Atlanta, GA . ............ 200 North Point Center East — 22,365(d) 1,475 9,625 — 1,503 1,475 11,128 12,603 3,134 — 2003 25 Years Suburban Atlanta, GA ....... Cosmopolitan Center — —(d) 1,726 7,920 — 1,118 1,726 9,038 10,764 1,834 — 2003 25 Years Atlanta, GA . ............ 191 Peachtree Tower(e) — — 9,465 2,581 — — 9,465 2,581 12,046 242 — 2006 24 Years Atlanta, GA . ............ Meridian Mark Plaza — — 5,355 141,012 — — 5,355 141,012 146,367 1,978 — 2006 40 Years Atlanta, GA . ............ Inhibitex — 23,602 2,200 — 19 23,738 2,219 23,738 25,957 8,474 1997 1997 30 Years Suburban Atlanta, GA ....... AtheroGenics — — 675 — — 5,959 675 5,959 6,634 611 2004 2004 30 Years Suburban Atlanta, GA ....... — 200 — — 7,455 200 7,455 7,655 4,149 1998 1998 30 Years Total Office and Medical Office . . . 115,971 51,329 312,506 497 119,264 51,826 431,770 483,596 110,026
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Outstanding Performance Cousins Pro
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FORWARD-LOOKING STATEMENTS Certain
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Had significant leasing activity, n
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Certain environmental laws impose l
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Environmental issues. Environmental
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Financing Risks If interest rates o
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eceive less cash than the amount of
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income, Cousins is subject to tax o
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16 Description and Location Year De
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18 Lease Expirations — Office As
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20 Description and Location Year De
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Lease Expirations — Industrial As
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Additional Information Related to O
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(3) Total Project GLA includes anch
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Description Year Commenced Estimate
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Description and Location(1) Zoned U
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Mr. DuPree rejoined the Company in
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Performance Graph The following gra
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General and Administrative Expenses
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For the foreseeable future, the Com
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collectibility of unit purchase pri
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Decrease of approximately $1.2 mill
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The vesting period for stock option
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esidential lot development and land
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Stock-Based Compensation. The Compa
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capitalization at December 31, 2006
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Cash Flows from Investing Activitie
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eceivable. The table presents sched
Page 57 and 58: Item 9. Changes in and Disagreement
Page 59 and 60: We have also audited, in accordance
Page 61 and 62: 10(a)(v)* Form of Restricted Stock
Page 63 and 64: SIGNATURES Pursuant to the requirem
Page 65 and 66: Cousins Properties Incorporated IND
Page 67 and 68: COUSINS PROPERTIES INCORPORATED AND
Page 73 and 74: fair values at the date of acquisit
Page 75 and 76: Income Taxes COUSINS PROPERTIES INC
Page 77 and 78: outstanding. The income amounts use
Page 89 and 90: Company and 28% to GDL, after each
Page 99 and 100: The following supplemental pro form
Page 107: 14. PROFIT SHARING/401(K) PLAN The
Page 111 and 112: S-4 Description Encumbrances COUSIN
Page 113 and 114: COUSINS PROPERTIES INCORPORATED STA
Page 115 and 116: Subsidiary State of Incorporation C
Page 117 and 118: I, Thomas D. Bell, Jr., certify tha
Page 119 and 120: Exhibit 32.1 CERTIFICATION PURSUANT
Page 121 and 122: Shareholder Information INDEPENDENT
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Cousins Properties Incorporated 2006 Annual Report - SNL Financial

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