Cousins Properties Incorporated 2006 Annual Report - SNL Financial
Cousins Properties Incorporated 2006 Annual Report - SNL Financial
Cousins Properties Incorporated 2006 Annual Report - SNL Financial
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COUSINS PROPERTIES INCORPORATED AND SUBSIDIARIES<br />
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)<br />
3. NOTES AND OTHER RECEIVABLES<br />
At December 31, <strong>2006</strong> and 2005, notes and other receivables included the following ($ in thousands):<br />
<strong>2006</strong> 2005<br />
Notes receivable ...............................................<br />
Cumulative rental revenue recognized on a straight-line basis in excess of<br />
$ 4,114 $ 2,831<br />
revenue accrued in accordance with lease terms (see Note 2) ............<br />
Other receivables, net of allowance for doubtful accounts of $501 in <strong>2006</strong> and<br />
7,918 9,080<br />
$781 in 2005 (see Note 2) . . . ................................... 20,106 28,103<br />
Total Notes and Other Receivables ................................. $32,138 $40,014<br />
Fair Value — At December 31, <strong>2006</strong> and 2005, the estimated fair value of the Company’s notes receivable was<br />
$4.0 million and $2.7 million, respectively, calculated by discounting future cash flows from the notes receivable at<br />
estimated rates at which similar loans would have been made at December 31, <strong>2006</strong> and 2005.<br />
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