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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2015
Dec. 31, 2014
ASSETS    
Land and land improvements $ 1,207,305 $ 1,189,760
Building and improvements 5,305,894 5,343,908
Less accumulated depreciation (1,205,440) (1,182,569)
Operating real estate 5,307,759 5,351,099
Development in progress 225,154 277,411
Land held for development 280,334 269,059
Net real estate 5,813,247 5,897,569
Cash and cash equivalents 73,053 69,346
Restricted cash 17,929 20,325
Accounts receivable 14,837 15,481
Deferred rent receivable 115,944 107,909
Deferred financing and leasing costs, net of accumulated amortization (2015, $176,671; 2014, $169,468) 200,782 206,286
Investments in and advances to unconsolidated joint ventures 215,715 208,832
Assets held for sale 0 8,389
Prepaid expenses and other assets 105,223 91,399
Total assets 6,556,730 6,625,536
LIABILITIES    
Mortgage loans 481,621 487,301
Unsecured notes 2,608,089 2,509,094
Credit facility 70,000 167,000
Accounts payable 46,393 52,043
Accrued interest 27,176 24,513
Dividend and distributions payable 72,687 72,253
Other liabilities 197,960 219,418
Total liabilities 3,503,926 3,531,622
Noncontrolling interest - operating partnership - 301,483 preferred units outstanding as of June 30, 2015 and December 31, 2014 7,537 7,537
EQUITY    
Common shares of beneficial interest, $.001 par value, 283,987,000 shares authorized; 150,737,328 (includes 1,249,909 in treasury) and 149,807,179 (includes 1,249,909 in treasury) shares issued and outstanding as of June 30, 2015 and December 31, 2014, respectively 151 150
Additional paid-in capital 3,775,548 3,740,594
Accumulated other comprehensive loss (4,863) (6,252)
Distributions in excess of net income (730,242) (654,869)
Common shares in treasury, at cost, 1,249,909 shares as of June 30, 2015 and December 31, 2014 (51,951) (51,951)
Total Liberty Property Trust shareholders' equity 2,988,643 3,027,672
Noncontrolling interest - operating partnership    
Noncontrolling interest - operating partnerships 52,705 54,786
Noncontrolling interest - consolidated joint ventures 3,919 3,919
Total equity 3,045,267 3,086,377
Total liabilities, noncontrolling interest - operating partnership and equity 6,556,730 6,625,536
Liberty Property Limited Partnership [Member]    
ASSETS    
Land and land improvements 1,207,305 1,189,760
Building and improvements 5,305,894 5,343,908
Less accumulated depreciation (1,205,440) (1,182,569)
Operating real estate 5,307,759 5,351,099
Development in progress 225,154 277,411
Land held for development 280,334 269,059
Net real estate 5,813,247 5,897,569
Cash and cash equivalents 73,053 69,346
Restricted cash 17,929 20,325
Accounts receivable 14,837 15,481
Deferred rent receivable 115,944 107,909
Deferred financing and leasing costs, net of accumulated amortization (2015, $176,671; 2014, $169,468) 200,782 206,286
Investments in and advances to unconsolidated joint ventures 215,715 208,832
Assets held for sale 0 8,389
Prepaid expenses and other assets 105,223 91,399
Total assets 6,556,730 6,625,536
LIABILITIES    
Mortgage loans 481,621 487,301
Unsecured notes 2,608,089 2,509,094
Credit facility 70,000 167,000
Accounts payable 46,393 52,043
Accrued interest 27,176 24,513
Dividend and distributions payable 72,687 72,253
Other liabilities 197,960 219,418
Total liabilities 3,503,926 3,531,622
Noncontrolling interest - operating partnership - 301,483 preferred units outstanding as of June 30, 2015 and December 31, 2014 7,537 7,537
EQUITY    
General partner’s equity - 149,487,419 (net of 1,249,909 treasury units) and 148,557,270 (net of 1,249,909 treasury units) common units outstanding as of June 30, 2015 and December 31, 2014, respectively 2,988,643 3,027,672
Limited partners' equity 52,705 54,786
Noncontrolling interest - operating partnership    
Noncontrolling interest - consolidated joint ventures 3,919 3,919
Total equity 3,045,267 3,086,377
Total liabilities, noncontrolling interest - operating partnership and equity $ 6,556,730 $ 6,625,536