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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
OPERATING REVENUE        
Rental $ 119,334 $ 115,760 $ 357,126 $ 345,882
Operating expense reimbursement 52,392 49,432 152,200 148,655
Total operating revenue 171,726 165,192 509,326 494,537
OPERATING EXPENSE        
Rental property 34,635 31,876 95,926 91,657
Real estate taxes 20,292 19,755 61,452 58,646
General and administrative 14,621 13,617 46,444 42,819
Depreciation and amortization 40,929 38,922 122,705 116,247
Total operating expenses 110,477 104,170 326,527 309,369
Operating income 61,249 61,022 182,799 185,168
OTHER INCOME (EXPENSE)        
Interest and other income 2,642 1,989 7,969 6,918
Interest expense (30,704) (29,173) (89,892) (90,198)
Total other income (expense) (28,062) (27,184) (81,923) (83,280)
Income before property dispositions, income taxes and equity in (loss) earnings of unconsolidated joint ventures 33,187 33,838 100,876 101,888
Gain on property dispositions 2,001 1,898 2,859 3,361
Income taxes (321) (356) (645) (969)
Equity in (loss) earnings of unconsolidated joint ventures (3,082) 827 (1,397) 2,470
Income from continuing operations 31,785 36,207 101,693 106,750
Discontinued operations (1,887) 5,474 5,487 62,715
Net income 29,898 41,681 107,180 169,465
Noncontrolling interest – operating partnership (2,092) (6,414) (8,174) (20,769)
Noncontrolling interest - consolidated joint ventures 0 53 0 511
Preferred Stock Redemption Discount     3,689  
Net income available to common shareholders 27,806 35,320 99,006 149,207
Comprehensive income attributable to common shareholders        
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 29,898 41,681 107,180 169,465
Other comprehensive income (loss) 2,245 (2,247) 3,047 (64)
Comprehensive Income 32,143 39,434 110,227 169,401
Less: comprehensive income attributable to noncontrolling interest (2,161) (6,342) (8,269) (20,769)
Comprehensive income attributable to common shareholders 29,982 33,092 101,958 148,632
Basic:        
Income from continuing operations $ 0.26 $ 0.26 $ 0.80 $ 0.77
(Loss) income from discontinued operations $ (0.02) $ 0.05 $ 0.05 $ 0.53
Income per common share - basic $ 0.24 $ 0.31 $ 0.85 $ 1.30
Diluted:        
Income from continuing operations $ 0.26 $ 0.26 $ 0.79 $ 0.76
(Loss) income from discontinued operations $ (0.02) $ 0.05 $ 0.05 $ 0.53
Income per common share - diluted $ 0.24 $ 0.31 $ 0.84 $ 1.29
Common Stock, Dividends, Per Share, Declared $ 0.475 $ 0.475 $ 1.425 $ 1.425
Weighted average number of common shares outstanding        
Basic 117,141 115,014 116,625 114,547
Diluted 118,043 115,780 117,462 115,329
Amounts attributable to common shareholders        
Income from continuing operations 29,635 30,021 93,689 88,537
Discontinued operations (1,829) 5,299 5,317 60,670
Net income available to common shareholders 27,806 35,320 99,006 149,207
Liberty Property Limited Partnership [Member]
       
OPERATING REVENUE        
Rental 119,334 115,760 357,126 345,882
Operating expense reimbursement 52,392 49,432 152,200 148,655
Total operating revenue 171,726 165,192 509,326 494,537
OPERATING EXPENSE        
Rental property 34,635 31,876 95,926 91,657
Real estate taxes 20,292 19,755 61,452 58,646
General and administrative 14,621 13,617 46,444 42,819
Depreciation and amortization 40,929 38,922 122,705 116,247
Total operating expenses 110,477 104,170 326,527 309,369
Operating income 61,249 61,022 182,799 185,168
OTHER INCOME (EXPENSE)        
Interest and other income 2,642 1,989 7,969 6,918
Interest expense (30,704) (29,173) (89,892) (90,198)
Total other income (expense) (28,062) (27,184) (81,923) (83,280)
Income before property dispositions, income taxes and equity in (loss) earnings of unconsolidated joint ventures 33,187 33,838 100,876 101,888
Gain on property dispositions 2,001 1,898 2,859 3,361
Income taxes (321) (356) (645) (969)
Equity in (loss) earnings of unconsolidated joint ventures (3,082) 827 (1,397) 2,470
Income from continuing operations 31,785 36,207 101,693 106,750
Discontinued operations (1,887) 5,474 5,487 62,715
Net income 29,898 41,681 107,180 169,465
Noncontrolling interest - consolidated joint ventures 0 53 0 511
Preferred unit distributions (1,211) (5,253) (8,690) (15,759)
Preferred Stock Redemption Discount     3,689 0
Net income available to common shareholders 28,687 36,481 102,179 154,217
Comprehensive income attributable to common shareholders        
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 29,898 41,681 107,180 169,465
Other comprehensive income (loss) 2,245 (2,247) 3,047 (64)
Comprehensive Income 32,143 39,434 110,227 169,401
Basic:        
Income from continuing operations $ 0.26 $ 0.26 $ 0.80 $ 0.77
(Loss) income from discontinued operations $ (0.02) $ 0.05 $ 0.05 $ 0.53
Income per common share - basic $ 0.24 $ 0.31 $ 0.85 $ 1.30
Diluted:        
Income from continuing operations $ 0.26 $ 0.26 $ 0.79 $ 0.76
(Loss) income from discontinued operations $ (0.02) $ 0.05 $ 0.05 $ 0.53
Income per common share - diluted $ 0.24 $ 0.31 $ 0.84 $ 1.29
Common Stock, Dividends, Per Share, Declared $ 0.475 $ 0.475 $ 1.425 $ 1.425
Weighted average number of common shares outstanding        
Basic 120,880 118,830 120,396 118,437
Diluted 121,782 119,596 121,233 119,219
Net Income (Loss) Allocated to General Partners 27,806 35,320 99,006 149,207
Net Income (Loss) Allocated to Limited Partners 2,092 6,414 8,174 20,769
Amounts attributable to common shareholders        
Income from continuing operations 31,785 36,260 101,693 107,261
Net income available to common shareholders $ 28,687 $ 36,481 $ 102,179 $ 154,217