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Consolidated Statements of Cash Flows (USD $)
In Thousands
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
OPERATING ACTIVITIES      
Net income $ 153,375 $ 78,992 $ 180,106
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 174,013 172,575 175,236
Amortization of deferred financing costs 6,339 5,101 4,429
Impairment charges - investment in unconsolidated joint ventures and other 957 104,156 3,076
Debt extinguishment gain   (1,547) (2,521)
Equity in earnings of unconsolidated joint ventures (2,296) (2,161) (2,805)
Distributions from unconsolidated joint ventures 657 663 1,660
Gain on property dispositions (12,052) (25,450) (37,167)
Noncash compensation 11,595 12,905 9,152
Changes in operating assets and liabilities:      
Restricted cash (7,294) (1,189) (10,903)
Accounts receivable 4,059 4,191 (264)
Deferred rent receivable (13,581) (13,414) (13,482)
Prepaid expenses and other assets (7,597) 3,699 (35,189)
Accounts payable (7,399) (1,099) (10,913)
Accrued interest (1,430) (5,223) (3,251)
Other liabilities (389) (29,338) 4,821
Net cash provided by operating activities 298,957 302,861 261,985
INVESTING ACTIVITIES      
Investment in properties (123,839) (58,871) (55,273)
Investments in and advances to unconsolidated joint ventures (1,870) (5,132) (8,410)
Distributions from unconsolidated joint ventures 6,776 20,721 66,660
Net proceeds from disposition of properties/land 35,934 190,534 378,943
Net proceeds from (advances on) grant receivable/escrow 18,917 (23,238) 9,875
Investment in development in progress (9,265) (75,246) (253,835)
Investment in land held for development (6,086) (29,391) (47,906)
Increase in deferred leasing costs (30,721) (29,369) (33,537)
Net cash (used in) provided by investing activities (110,154) (9,992) 56,517
FINANCING ACTIVITIES      
Net proceeds from issuance of common shares 37,434 293,814 206,349
Proceeds from unsecured notes 366,000    
Repayments of unsecured notes (169,739) (287,179) (20,872)
Proceeds from mortgage loans 743 330,250 2,667
Repayments of mortgage loans (156,890) (54,864) (46,452)
Proceeds from credit facility 338,500 199,150 572,300
Repayments on credit facility (478,500) (319,150) (782,300)
Increase in deferred financing costs (9,697) (5,550) (33)
Distributions paid on common shares (215,083) (201,984) (231,325)
Distributions paid on units (28,610) (28,520) (31,648)
Net cash used in financing activities (315,842) (74,033) (331,314)
(Decrease) increase in cash and cash equivalents (127,039) 218,836 (12,812)
(Decrease) increase in cash and cash equivalents related to foreign currency translation (1,998) 2,816 (9,383)
Cash and cash equivalents at beginning of year 237,446 15,794 37,989
Cash and cash equivalents at end of year 108,409 237,446 15,794
LIBERTY PROPERTY LIMITED PARTNERSHIP
     
OPERATING ACTIVITIES      
Net income 153,375 78,992 180,106
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 174,013 172,575 175,236
Amortization of deferred financing costs 6,339 5,101 4,429
Impairment charges - investment in unconsolidated joint ventures and other 957 104,156 3,076
Debt extinguishment gain   (1,547) (2,521)
Equity in earnings of unconsolidated joint ventures (2,296) (2,161) (2,805)
Distributions from unconsolidated joint ventures 657 663 1,660
Gain on property dispositions (12,052) (25,450) (37,167)
Noncash compensation 11,595 12,905 9,152
Changes in operating assets and liabilities:      
Restricted cash (7,294) (1,189) (10,903)
Accounts receivable 4,059 4,191 (264)
Deferred rent receivable (13,581) (13,414) (13,482)
Prepaid expenses and other assets (7,597) 3,699 (35,189)
Accounts payable (7,399) (1,099) (10,913)
Accrued interest (1,430) (5,223) (3,251)
Other liabilities (389) (29,338) 4,821
Net cash provided by operating activities 298,957 302,861 261,985
INVESTING ACTIVITIES      
Investment in properties (123,839) (58,871) (55,273)
Investments in and advances to unconsolidated joint ventures (1,870) (5,132) (8,410)
Distributions from unconsolidated joint ventures 6,776 20,721 66,660
Net proceeds from disposition of properties/land 35,934 190,534 378,943
Net proceeds from (advances on) grant receivable/escrow 18,917 (23,238) 9,875
Investment in development in progress (9,265) (75,246) (253,835)
Investment in land held for development (6,086) (29,391) (47,906)
Increase in deferred leasing costs (30,721) (29,369) (33,537)
Net cash (used in) provided by investing activities (110,154) (9,992) 56,517
FINANCING ACTIVITIES      
Proceeds from unsecured notes 366,000    
Repayments of unsecured notes (169,739) (287,179) (20,872)
Proceeds from mortgage loans 743 330,250 2,667
Repayments of mortgage loans (156,890) (54,864) (46,452)
Proceeds from credit facility 338,500 199,150 572,300
Repayments on credit facility (478,500) (319,150) (782,300)
Increase in deferred financing costs (9,697) (5,550) (33)
Capital contributions 37,434 293,814 206,349
Distributions to partners (243,693) (230,504) (262,973)
Net cash used in financing activities (315,842) (74,033) (331,314)
(Decrease) increase in cash and cash equivalents (127,039) 218,836 (12,812)
(Decrease) increase in cash and cash equivalents related to foreign currency translation (1,998) 2,816 (9,383)
Cash and cash equivalents at beginning of year 237,446 15,794 37,989
Cash and cash equivalents at end of year $ 108,409 $ 237,446 $ 15,794