Income per Common Unit of the Operating Partnership

9 Months Ended

Sep. 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
	September 30, 2012							September 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 - consolidated joint ventures	$	29,635		117,141	$	0.26		$	30,021	115,014	$	0.26
Dilutive shares for long-term compensation plans	—			902				—		766
Diluted income from continuing operations
Income from continuing operations net of noncontrolling interest	29,635			118,043	$	0.26		30,021		115,780	$	0.26
Basic income from discontinued operations
Discontinued operations net of noncontrolling interest	(1,829		)	117,141	$	(0.02	)	5,299		115,014	$	0.05
Dilutive shares for long-term compensation plans	—			902				—		766
Diluted income from discontinued operations
Discontinued operations net of noncontrolling interest	(1,829		)	118,043	$	(0.02	)	5,299		115,780	$	0.05
Basic income per common share
Net income available to common shareholders	27,806			117,141	$	0.24		35,320		115,014	$	0.31
Dilutive shares for long-term compensation plans	—			902				—		766
Diluted income per common share
Net income available to common shareholders	$	27,806		118,043	$	0.24		$	35,320	115,780	$	0.31

	For the Nine Months Ended					For the Nine Months Ended
	September 30, 2012					September 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 - consolidated joint ventures	$	93,689	116,625	$	0.80	$	88,537	114,547	$	0.77
Dilutive shares for long-term compensation plans	—		837			—		782
Diluted income from continuing operations
Income from continuing operations net of noncontrolling interest	93,689		117,462	$	0.79	88,537		115,329	$	0.76
Basic income from discontinued operations
Discontinued operations net of noncontrolling interest	5,317		116,625	$	0.05	60,670		114,547	$	0.53
Dilutive shares for long-term compensation plans	—		837			—		782
Diluted income from discontinued operations
Discontinued operations net of noncontrolling interest	5,317		117,462	$	0.05	60,670		115,329	$	0.53
Basic income per common share
Net income available to common shareholders	99,006		116,625	$	0.85	149,207		114,547	$	1.30
Dilutive shares for long-term compensation plans	—		837			—		782
Diluted income per common share
Net income available to common shareholders	$	99,006	117,462	$	0.84	$	149,207	115,329	$	1.29

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 nine months ended September 30, 2012 were 850,000 and 905,000, respectively, as compared to 1,641,000 and 1,219,000, respectively, for the same periods in 2011.

During the three and nine months ended September 30, 2012, 77,000 and 588,000 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
	September 30, 2012							September 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 - consolidated joint ventures	$	31,785						$	36,260
Less: Preferred unit distributions	(1,211		)					(5,253		)
Basic income from continuing operations
Income from continuing operations available to common unitholders	30,574			120,880	$	0.26		31,007			118,830	$	0.26
Dilutive units for long-term compensation plans	—			902				—			766
Diluted income from continuing operations
Income from continuing operations available to common unitholders	30,574			121,782	$	0.26		31,007			119,596	$	0.26
Basic income from discontinued operations
Discontinued operations	(1,887		)	120,880	$	(0.02	)	5,474			118,830	$	0.05
Dilutive units for long-term compensation plans	—			902				—			766
Diluted income from discontinued operations
Discontinued operations	(1,887		)	121,782	$	(0.02	)	5,474			119,596	$	0.05
Basic income per common unit
Income available to common unitholders	28,687			120,880	$	0.24		36,481			118,830	$	0.31
Dilutive units for long-term compensation plans	—			902				—			766
Diluted income per common unit
Income available to common unitholders	$	28,687		121,782	$	0.24		$	36,481		119,596	$	0.31

	For the Nine Months Ended						For the Nine Months Ended
	September 30, 2012						September 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 - consolidated joint ventures	$	101,693					$	107,261
Less: Preferred unit distributions	(8,690		)				(15,759		)
Excess of preferred unit carrying amount over redemption	3,689						—
Basic income from continuing operations
Income from continuing operations available to common unitholders	96,692			120,396	$	0.80	91,502			118,437	$	0.77
Dilutive units for long-term compensation plans	—			837			—			782
Diluted income from continuing operations
Income from continuing operations available to common unitholders	96,692			121,233	$	0.79	91,502			119,219	$	0.76
Basic income from discontinued operations
Discontinued operations	5,487			120,396	$	0.05	62,715			118,437	$	0.53
Dilutive units for long-term compensation plans	—			837			—			782
Diluted income from discontinued operations
Discontinued operations	5,487			121,233	$	0.05	62,715			119,219	$	0.53
Basic income per common unit
Income available to common unitholders	102,179			120,396	$	0.85	154,217			118,437	$	1.30
Dilutive units for long-term compensation plans	—			837			—			782
Diluted income per common unit
Income available to common unitholders	$	102,179		121,233	$	0.84	$	154,217		119,219	$	1.29

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 nine months ended September 30, 2012 were 850,000 and 905,000, respectively, as compared to 1,641,000 and 1,219,000, respectively, for the same periods in 2011.

During the three and nine months ended September 30, 2012, 77,000 and 588,000 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.