Income per Common Unit of the Operating Partnership

3 Months Ended

Mar. 31, 2012

Income Per Common Unit [Line Items]

Earnings Per Share [Text Block]

Income per Common Share of the Trust

The following table sets forth the computation of basic and diluted income per common share of the Trust (in thousands except per share amounts):

	For the Three Months Ended					For the Three Months Ended
	March 31, 2012					March 31, 2011
	Income (Numerator)		Weighted Average Shares (Denominator)	Per Share		Income (Numerator)		Weighted Average Shares (Denominator)	Per Share
Basic income from continuing operations
Income from continuing operations net of noncontrolling interest	$	33,301	115,972	$	0.29	$	24,820	114,013	$	0.21
Dilutive shares for long-term compensation plans	—		771			—		753
Diluted income from continuing operations
Income from continuing operations net of noncontrolling interest	33,301		116,743	$	0.29	24,820		114,766	$	0.21
Basic income from discontinued operations
Discontinued operations net of noncontrolling interest	3,788		115,972	$	0.03	4,089		114,013	$	0.04
Dilutive shares for long-term compensation plans	—		771			—		753
Diluted income from discontinued operations
Discontinued operations net of noncontrolling interest	3,788		116,743	$	0.03	4,089		114,766	$	0.04
Basic income per common share
Net income available to common shareholders	37,089		115,972	$	0.32	28,909		114,013	$	0.25
Dilutive shares for long-term compensation plans	—		771			—		753
Diluted income per common share
Net income available to common shareholders	$	37,089	116,743	$	0.32	$	28,909	114,766	$	0.25

Dilutive shares for long-term compensation plans represent the unvested common shares outstanding during the year as well as the dilutive effect of outstanding options. The amounts of anti-dilutive options that were excluded from the computation of diluted income per common share for the three months ended March 31, 2012 was 1,384,000 as compared to 1,219,000 for the same period in 2011.

During the three months ended March 31, 2012, 349,000 common shares were issued upon the exercise of options. During the year ended December 31, 2011, 256,000 common shares were issued upon the exercise of options.

Liberty Property Limited Partnership [Member]

Income Per Common Unit [Line Items]

Earnings Per Share [Text Block]

Income per Common Unit of the Operating Partnership

The following table sets forth the computation of basic and diluted income per common unit of the Operating Partnership (in thousands, except per unit amounts):

	For the Three Months Ended						For the Three Months Ended
	March 31, 2012						March 31, 2011
	Income (Numerator)			Weighted Average Units (Denominator)	Per Unit		Income (Numerator)			Weighted Average Units (Denominator)	Per Unit
Income from continuing operations net of noncontrolling interest	$	35,691					$	30,915
Less: Preferred unit distributions	(5,035		)				(5,253		)
Excess of preferred unit carrying amount over redemption	3,729						—
Basic income from continuing operations
Income from continuing operations available to common unitholders	34,385			119,781	$	0.29	25,662			117,942	$	0.21
Dilutive units for long-term compensation plans	—			771			—			753
Diluted income from continuing operations
Income from continuing operations available to common unitholders	34,385			120,552	$	0.29	25,662			118,695	$	0.21
Basic income from discontinued operations
Discontinued operations	3,911			119,781	$	0.03	4,229			117,942	$	0.04
Dilutive units for long-term compensation plans	—			771			—			753
Diluted income from discontinued operations
Discontinued operations	3,911			120,552	$	0.03	4,229			118,695	$	0.04
Basic income per common unit
Income available to common unitholders	38,296			119,781	$	0.32	29,891			117,942	$	0.25
Diluted units for long-term compensation plans	—			771			—			753
Diluted income per common unit
Income available to common unitholders	$	38,296		120,552	$	0.32	$	29,891		118,695	$	0.25

Dilutive units for long-term compensation plans represent the unvested common units outstanding during the year as well as the dilutive effect of outstanding options. The amounts of anti-dilutive options that were excluded from the computation of diluted income per common unit for the three months ended March 31, 2012 was 1,384,000 as compared to 1,219,000 for the same period in 2011.

During the three months ended March 31, 2012, 349,000 common units were issued upon the exercise of options. During the year ended December 31, 2011, 256,000 common units were issued upon the exercise of options.