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Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
OPERATING REVENUE      
Rental $ 466,984 $ 463,240 $ 453,970
Operating expense reimbursement 200,610 193,761 190,726
Total operating revenue 667,594 657,001 644,696
OPERATING EXPENSE      
Rental property 127,266 128,180 122,635
Real estate taxes 77,618 75,489 75,981
General and administrative 59,370 52,747 51,229
Depreciation and amortization 157,349 150,692 148,046
Total operating expenses 421,603 407,108 397,891
Operating income 245,991 249,893 246,805
OTHER INCOME (EXPENSE)      
Interest and other income 8,397 9,695 11,069
Debt extinguishment gain 0 0 1,547
Interest expense (122,018) (134,384) (133,997)
Total other income (expense) (113,621) (124,689) (121,381)
Income before gain on property dispositions, income taxes, equity in earnings of unconsolidated joint ventures and impairment charges 132,370 125,204 125,424
Gain on property dispositions 5,025 4,616 1,687
Income taxes (1,020) (1,736) (494)
Equity in earnings of unconsolidated joint ventures 3,496 2,296 2,161
Impairment charges - investment in unconsolidated joint ventures and other 0 (378) (82,552)
Impairment charges - goodwill 0 0 (15,700)
Income from continuing operations 139,871 130,002 30,526
Discontinued operations (including net gain on property dispositions of $60,582, $6,857 and $17,859 for the years ended December 31, 2011, 2010 and 2009, respectively) 70,839 23,373 48,466
Net income 210,710 153,375 78,992
Noncontrolling interest - operating partnership (27,222) (25,448) (23,125)
Noncontrolling interest - consolidated joint ventures 511 (165) 509
Net income available to common shareholders 183,999 127,762 56,376
Basic:      
Income from continuing operations $ 1.00 $ 0.93 $ 0.09
Income from discontinued operations $ 0.60 $ 0.20 $ 0.43
Income per common share - basic $ 1.60 $ 1.13 $ 0.52
Diluted:      
Income from continuing operations $ 1.00 $ 0.92 $ 0.09
Income from discontinued operations $ 0.59 $ 0.20 $ 0.43
Income per common share - diluted $ 1.59 $ 1.12 $ 0.52
Distributions per common share $ 1.900 $ 1.900 $ 1.900
Weighted average number of common shares outstanding      
Basic 114,755 112,924 107,550
Diluted 115,503 113,606 108,002
Amounts attributable to common shareholders      
Income from continuing operations 115,469 105,172 9,623
Discontinued operations 68,530 22,590 46,753
Net income available to common shareholders 183,999 127,762 56,376
Liberty Property Limited Partnership [Member]
     
OPERATING REVENUE      
Rental 466,984 463,240 453,970
Operating expense reimbursement 200,610 193,761 190,726
Total operating revenue 667,594 657,001 644,696
OPERATING EXPENSE      
Rental property 127,266 128,180 122,635
Real estate taxes 77,618 75,489 75,981
General and administrative 59,370 52,747 51,229
Depreciation and amortization 157,349 150,692 148,046
Total operating expenses 421,603 407,108 397,891
Operating income 245,991 249,893 246,805
OTHER INCOME (EXPENSE)      
Interest and other income 8,397 9,695 11,069
Debt extinguishment gain 0 0 1,547
Interest expense (122,018) (134,384) (133,997)
Total other income (expense) (113,621) (124,689) (121,381)
Income before gain on property dispositions, income taxes, equity in earnings of unconsolidated joint ventures and impairment charges 132,370 125,204 125,424
Gain on property dispositions 5,025 4,616 1,687
Income taxes (1,020) (1,736) (494)
Equity in earnings of unconsolidated joint ventures 3,496 2,296 2,161
Impairment charges - investment in unconsolidated joint ventures and other 0 (378) (82,552)
Impairment charges - goodwill 0 0 (15,700)
Income from continuing operations 139,871 130,002 30,526
Discontinued operations (including net gain on property dispositions of $60,582, $6,857 and $17,859 for the years ended December 31, 2011, 2010 and 2009, respectively) 70,839 23,373 48,466
Net income 210,710 153,375 78,992
Noncontrolling interest - consolidated joint ventures 511 (165) 509
Preferred unit distributions (21,069) (21,012) (21,012)
Net income available to common shareholders 190,152 132,198 58,489
Basic:      
Income from continuing operations $ 1.00 $ 0.93 $ 0.09
Income from discontinued operations $ 0.60 $ 0.20 $ 0.43
Income per common share - basic $ 1.60 $ 1.13 $ 0.52
Diluted:      
Income from continuing operations $ 1.00 $ 0.92 $ 0.09
Income from discontinued operations $ 0.59 $ 0.20 $ 0.43
Income per common share - diluted $ 1.59 $ 1.12 $ 0.52
Distributions per common share $ 1.900 $ 1.900 $ 1.900
Weighted average number of common shares outstanding      
Basic 118,624 116,871 111,568
Diluted 119,372 117,553 112,020
Net Income (Loss) Allocated to General Partners 183,999 127,762 56,376
Net Income (Loss) Allocated to Limited Partners 27,222 25,448 23,125
Amounts attributable to common shareholders      
Income from continuing operations 140,382 129,837 31,035
Net income available to common shareholders $ 190,152 $ 132,198 $ 58,489