Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2010

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

12. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

A summary of quarterly results of operations for the years ended December 31, 2010 and 2009 follows. Certain amounts have been reclassified to conform to the current presentation of discontinued operations as of March 31, 2011 (in thousands, except per share amounts).


	Quarter Ended
	Dec. 31,		Sept. 30,		June 30,		Mar. 31,		Dec. 31,			Sept. 30,		June 30,		Mar. 31,
	2010		2010		2010		2010		2009			2009		2009		2009

Operating revenue	$	176,895	$	179,168	$	175,028	$	178,065	$	176,384		$	176,111	$	172,920	$	173,627


Income from continuing operations		33,847		38,251		36,048		30,642		(60,490	)		37,402		35,536		29,682


Discontinued operations		2,686		2,755		3,966		5,180		11,684			13,342		7,676		4,160


Net income		36,533		41,006		40,014		35,822		(48,806	)		50,744		43,212		33,842


Income per common share – basic (1)		0.27		0.31		0.30		0.26		(0.46	)		0.39		0.35		0.28


Income per common share – diluted (1)		0.26		0.30		0.29		0.26		(0.46	)		0.39		0.35		0.28


(1)		The sum of quarterly financial data may vary from the annual data due to rounding.

LIBERTY PROPERTY LIMITED PARTNERSHIP

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

10. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)


	Quarter Ended
	Dec. 31,		Sept. 30,		June 30,		Mar. 31,		Dec. 31,			Sept. 30,		June 30,		Mar. 31,
	2010		2010		2010		2010		2009			2009		2009		2009

Operating revenue	$	176,895	$	179,168	$	175,028	$	178,065	$	176,384		$	176,111	$	172,920	$	173,627

Income from continuing operations		33,847		38,251		36,048		30,642		(60,490	)		37,402		35,536		29,682

Discontinued operations		2,686		2,755		3,966		5,180		11,684			13,342		7,676		4,160

Income available to common unitholders		36,533		41,006		40,014		35,822		(48,806	)		50,744		43,212		33,842

Income per common unit — basic (1)		0.27		0.31		0.30		0.26		(0.46	)		0.39		0.35		0.28

Income per common unit — diluted (1)		0.26		0.30		0.29		0.26		(0.46	)		0.39		0.35		0.28


(1)		The sum of quarterly financial data may vary from the annual data due to rounding.

- Definition

This element can be used to disclose the entire quarterly financial data disclosure in the annual financial statements as a single block of text. The disclosure includes a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. Alternatively, the details of this disclosure can be reported using the elements in this group, or by using other taxonomy elements and applying the appropriate quarterly date and period contexts when creating an instance document. For example, the element for "Interest and Dividend Income, Operating" may be used by financial institutions from the Statement of Income, applying the appropriate quarterly date and period context when creating an instance document.

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