Cousins Properties Incorporated 2006 Annual Report - SNL Financial

More documents

Recommendations

Info

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ¥ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2006 or n 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 0-3576 COUSINS PROPERTIES INCORPORATED (Exact name of registrant as specified in its charter) Georgia 58-0869052 (State or other jurisdiction (I.R.S. Employer of incorporation or organization) Identification No.) 2500 Windy Ridge Parkway, Suite 1600, Atlanta, Georgia (Address of principal executive offices) (770) 955-2200 (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: 30339-5683 (Zip Code) Title of Each Class Name of Exchange on Which Registered Common Stock ($1 par value) 7.75% Series A Cumulative Redeemable New York Stock Exchange Preferred Stock ($1 par value) 7.50% Series B Cumulative Redeemable New York Stock Exchange Preferred Stock ($1 par value) New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ¥ No n Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes n No ¥ 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 n Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. n Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. Large accelerated filer ¥ Accelerated filer n Non-accelerated filer n Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes n No ¥ As of June 30, 2006, the aggregate market value of the common stock of Cousins Properties Incorporated held by non-affiliates was $1,207,847,739 based on the closing sale price as reported on the New York Stock Exchange. As of February 23, 2007, 51,933,819 shares of common stock were outstanding. DOCUMENTS INCORPORATED BY REFERENCE Portions of the Registrant’s proxy statement for the annual stockholders meeting to be held on May 14, 2007 are incorporated by reference into Part III of this Form 10-K.
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. These include, but are not limited to, general and local economic conditions, local real estate conditions, the activity of others developing competitive projects, the risks associated with development projects (such as delay, cost overruns and leasing/sales risk of new properties), the cyclical nature of the real estate industry, the financial condition of existing tenants, interest rates, the Company’s ability to obtain favorable financing or zoning, environmental matters, the effects of terrorism, the ability of the Company to close properties under contract and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission, including this report on Form 10-K. The words “believes,” “expects,” “anticipates,” “estimates” and similar expressions are intended to identify forward-looking statements. Although the Company believes that its plans, intentions and expectations reflected in any forward-looking statements are reasonable, the Company can give no assurance that such plans, intentions or expectations will be achieved. Such forward-looking statements are based on current expectations and speak as of the date of such statements. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information or otherwise. 2
Page 1: Outstanding Performance Cousins Pro
Page 5 and 6: Had significant leasing activity, n
Page 7 and 8: Certain environmental laws impose l
Page 9 and 10: Environmental issues. Environmental
Page 11 and 12: Financing Risks If interest rates o
Page 13 and 14: eceive less cash than the amount of
Page 15 and 16: income, Cousins is subject to tax o
Page 17 and 18: 16 Description and Location Year De
Page 19 and 20: 18 Lease Expirations — Office As
Page 21 and 22: 20 Description and Location Year De
Page 23 and 24: Lease Expirations — Industrial As
Page 25 and 26: Additional Information Related to O
Page 27 and 28: (3) Total Project GLA includes anch
Page 29 and 30: Description Year Commenced Estimate
Page 31 and 32: Description and Location(1) Zoned U
Page 33 and 34: Mr. DuPree rejoined the Company in
Page 35 and 36: Performance Graph The following gra
Page 37 and 38: General and Administrative Expenses
Page 39 and 40: For the foreseeable future, the Com
Page 41 and 42: collectibility of unit purchase pri
Page 43 and 44: Decrease of approximately $1.2 mill
Page 45 and 46: The vesting period for stock option
Page 47 and 48: esidential lot development and land
Page 49 and 50: Stock-Based Compensation. The Compa
Page 51 and 52: capitalization at December 31, 2006
Page 53 and 54:
Cash Flows from Investing Activitie
Page 55 and 56:
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 69 and 70:
Page 71 and 72:
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 79 and 80:
Page 81 and 82:
Page 83 and 84:
Page 85 and 86:
Page 87 and 88:
Page 89 and 90:
Company and 28% to GDL, after each
Page 91 and 92:
Page 93 and 94:
Page 95 and 96:
Page 97 and 98:
Page 99 and 100:
The following supplemental pro form
Page 101 and 102:
Page 103 and 104:
Page 105 and 106:
Page 107 and 108:
14. PROFIT SHARING/401(K) PLAN The
Page 109 and 110:
S-2 Description Encumbrances COUSIN
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
show all

Cousins Properties Incorporated 2006 Annual Report - SNL Financial

Create successful ePaper yourself

Delete template?

Save as template?