Income per Common Unit of the Operating Partnership

6 Months Ended

Jun. 30, 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
	June 30, 2012					June 30, 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	$	31,110	116,683	$	0.26	$	32,717	114,623	$	0.28
Dilutive shares for long-term compensation plans	—		876			—		783
Diluted income from continuing operations
Income from continuing operations net of noncontrolling interest	31,110		117,559	$	0.26	32,717		115,406	$	0.28
Basic income from discontinued operations
Discontinued operations net of noncontrolling interest	3,001		116,683	$	0.03	52,261		114,623	$	0.46
Dilutive shares for long-term compensation plans	—		876			—		783
Diluted income from discontinued operations
Discontinued operations net of noncontrolling interest	3,001		117,559	$	0.03	52,261		115,406	$	0.46
Basic income per common share
Net income available to common shareholders	34,111		116,683	$	0.29	84,978		114,623	$	0.74
Dilutive shares for long-term compensation plans	—		876			—		783
Diluted income per common share
Net income available to common shareholders	$	34,111	117,559	$	0.29	$	84,978	115,406	$	0.74

	For the Six Months Ended					For the Six Months Ended
	June 30, 2012					June 30, 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	$	63,551	116,359	$	0.54	$	57,513	114,285	$	0.51
Dilutive shares for long-term compensation plans	—		806			—		802
Diluted income from continuing operations
Income from continuing operations net of noncontrolling interest	63,551		117,165	$	0.54	57,513		115,087	$	0.50
Basic income from discontinued operations
Discontinued operations net of noncontrolling interest	7,649		116,359	$	0.07	56,374		114,285	$	0.49
Dilutive shares for long-term compensation plans	—		806			—		802
Diluted income from discontinued operations
Discontinued operations net of noncontrolling interest	7,649		117,165	$	0.07	56,374		115,087	$	0.49
Basic income per common share
Net income available to common shareholders	71,200		116,359	$	0.61	113,887		114,285	$	1.00
Dilutive shares for long-term compensation plans	—		806			—		802
Diluted income per common share
Net income available to common shareholders	$	71,200	117,165	$	0.61	$	113,887	115,087	$	0.99

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 and six months ended June 30, 2012 were 953,000 and 925,000, respectively, as compared to 965,000 and 1,119,000, respectively, for the same periods in 2011.

During the three and six months ended June 30, 2012, 162,000 and 511,000 common shares, respectively, 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
	June 30, 2012						June 30, 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	$	34,583					$	39,070
Less: Preferred unit distributions	(2,444		)				(5,253		)
Excess of preferred unit redemption over carrying amount	(40		)				—
Basic income from continuing operations
Income from continuing operations available to common unitholders	32,099			120,450	$	0.26	33,817			118,549	$	0.28
Dilutive units for long-term compensation plans	—			876			—			783
Diluted income from continuing operations
Income from continuing operations available to common unitholders	32,099			121,326	$	0.26	33,817			119,332	$	0.28
Basic income from discontinued operations
Discontinued operations	3,097			120,450	$	0.03	54,028			118,549	$	0.46
Dilutive units for long-term compensation plans	—			876			—			783
Diluted income from discontinued operations
Discontinued operations	3,097			121,326	$	0.03	54,028			119,332	$	0.46
Basic income per common unit
Income available to common unitholders	35,196			120,450	$	0.29	87,845			118,549	$	0.74
Dilutive units for long-term compensation plans	—			876			—			783
Diluted income per common unit
Income available to common unitholders	$	35,196		121,326	$	0.29	$	87,845		119,332	$	0.74

	For the Six Months Ended						For the Six Months Ended
	June 30, 2012						June 30, 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	$	69,387					$	69,950
Less: Preferred unit distributions	(7,479		)				(10,506		)
Excess of preferred unit carrying amount over redemption	3,689						—
Basic income from continuing operations
Income from continuing operations available to common unitholders	65,597			120,147	$	0.54	59,444			118,212	$	0.51
Dilutive units for long-term compensation plans	—			806			—			802
Diluted income from continuing operations
Income from continuing operations available to common unitholders	65,597			120,953	$	0.54	59,444			119,014	$	0.50
Basic income from discontinued operations
Discontinued operations	7,895			120,147	$	0.07	58,292			118,212	$	0.49
Dilutive units for long-term compensation plans	—			806			—			802
Diluted income from discontinued operations
Discontinued operations	7,895			120,953	$	0.07	58,292			119,014	$	0.49
Basic income per common unit
Income available to common unitholders	73,492			120,147	$	0.61	117,736			118,212	$	1.00
Dilutive units for long-term compensation plans	—			806			—			802
Diluted income per common unit
Income available to common unitholders	$	73,492		120,953	$	0.61	$	117,736		119,014	$	0.99

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 and six months ended June 30, 2012 were 953,000 and 925,000, respectively, as compared to 965,000 and 1,119,000, respectively, for the same periods in 2011.

During the three and six months ended June 30, 2012, 162,000 and 511,000 common units, respectively, 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.