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Consolidated Statements of Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
OPERATING REVENUE    
Rental $ 123,912 $ 117,369
Operating expense reimbursement 52,661 49,573
Total operating revenue 176,573 166,942
OPERATING EXPENSE    
Rental property 31,916 30,018
Real estate taxes 21,552 20,311
General and administrative 19,833 17,201
Depreciation and amortization 44,973 40,725
Total operating expenses 118,274 108,255
Operating income 58,299 58,687
OTHER INCOME (EXPENSE)    
Interest and other income 2,632 2,460
Interest expense (31,934) (28,193)
Total other income (expense) (29,302) (25,733)
Income before gain on property dispositions, income taxes and equity in earnings of unconsolidated joint ventures 28,997 32,954
Gain on property dispositions 1,800 523
Income taxes (491) (178)
Equity in earnings of unconsolidated joint ventures 1,757 916
Income from continuing operations 32,063 34,215
Discontinued operations (including net gains on property dispositions of $41,713 and $1,064 for the quarters ended March 31, 2013 and 2012, respectively) 42,593 5,387
Net income 74,656 39,602
Noncontrolling interest – operating partnership (3,417) (2,513)
Noncontrolling interest - consolidated joint ventures 0 0
Net income available to common shareholders 71,239 37,089
Comprehensive income attributable to common shareholders    
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 74,656 39,602
Other comprehensive (loss) income (4,851) 2,317
Total Comprehensive Income 69,805 41,919
Less: comprehensive income attributable to noncontrolling interest (3,271) (2,586)
Comprehensive income attributable to common shareholders 66,534 39,333
Basic:    
Income from continuing operations $ 0.25 $ 0.28
Income from discontinued operations $ 0.35 $ 0.04
Income per common share - basic $ 0.60 $ 0.32
Diluted:    
Income from continuing operations $ 0.25 $ 0.28
Income from discontinued operations $ 0.35 $ 0.04
Income per common share - diluted $ 0.60 $ 0.32
Common Stock, Dividends, Per Share, Declared $ 0.475 $ 0.475
Weighted average number of common shares outstanding    
Basic 118,688 115,972
Diluted 119,532 116,743
Amounts attributable to common shareholders    
Income from continuing operations 29,925 31,872
Discontinued operations 41,314 5,217
Net income available to common shareholders 71,239 37,089
Liberty Property Limited Partnership [Member]
   
OPERATING REVENUE    
Rental 123,912 117,369
Operating expense reimbursement 52,661 49,573
Total operating revenue 176,573 166,942
OPERATING EXPENSE    
Rental property 31,916 30,018
Real estate taxes 21,552 20,311
General and administrative 19,833 17,201
Depreciation and amortization 44,973 40,725
Total operating expenses 118,274 108,255
Operating income 58,299 58,687
OTHER INCOME (EXPENSE)    
Interest and other income 2,632 2,460
Interest expense (31,934) (28,193)
Total other income (expense) (29,302) (25,733)
Income before gain on property dispositions, income taxes and equity in earnings of unconsolidated joint ventures 28,997 32,954
Gain on property dispositions 1,800 523
Income taxes (491) (178)
Equity in earnings of unconsolidated joint ventures 1,757 916
Income from continuing operations 32,063 34,215
Discontinued operations (including net gains on property dispositions of $41,713 and $1,064 for the quarters ended March 31, 2013 and 2012, respectively) 42,593 5,387
Net income 74,656 39,602
Noncontrolling interest - consolidated joint ventures 0 0
Preferred unit distributions (1,211) (5,035)
Net income available to common shareholders 73,445 38,296
Comprehensive income attributable to common shareholders    
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 74,656 39,602
Other comprehensive (loss) income (4,851) 2,317
Total Comprehensive Income 69,805 41,919
Basic:    
Income from continuing operations $ 0.25 $ 0.28
Income from discontinued operations $ 0.35 $ 0.04
Income per common share - basic $ 0.60 $ 0.32
Diluted:    
Income from continuing operations $ 0.25 $ 0.28
Income from discontinued operations $ 0.35 $ 0.04
Income per common share - diluted $ 0.60 $ 0.32
Common Stock, Dividends, Per Share, Declared $ 0.475 $ 0.475
Weighted average number of common shares outstanding    
Basic 122,402 119,781
Diluted 123,246 120,552
Net Income Allocated to General Partners 71,239 37,089
Net Income Allocated to Limited Partners 3,417 2,513
Amounts attributable to common shareholders    
Income from continuing operations 32,063 34,215
Net income available to common shareholders 73,445 38,296
Preferred Stock Redemption Discount $ 0 $ 3,729