Income per Common Unit of the Operating Partnership

12 Months Ended

Dec. 31, 2015

Earnings Per Unit, Basic and Diluted [Line Items]

Earnings per common unit of the Operating Partnership [Text Block]

INCOME PER COMMON SHARE OF THE TRUST

The following table sets forth the computation of basic and diluted income per common share of the Trust (in thousands except per share amounts):

	2015					2014
	Income (Numerator)		Weighted Average Shares (Denominator)	Per Share		Income (Numerator)		Weighted Average Shares (Denominator)	Per Share
Income from continuing operations net of noncontrolling interest - basic	$	238,039	148,243	$	1.61	$	170,471	147,216	$	1.16
Dilutive shares for long-term compensation plans	—		600			—		670
Income from continuing operations net of noncontrolling interest - diluted	$	238,039	148,843	$	1.60	$	170,471	147,886	$	1.15
Discontinued operations net of noncontrolling interest - basic	$	—	148,243	$	—	$	47,439	147,216	$	0.32
Dilutive shares for long-term compensation plans	—		600			—		670
Discontinued operations net of noncontrolling interest - diluted	$	—	148,843	$	—	$	47,439	147,886	$	0.32
Net income available to common shareholders - basic	$	238,039	148,243	$	1.61	$	217,910	147,216	$	1.48
Dilutive shares for long-term compensation plans	—		600			—		670
Net income available to common shareholders - diluted	$	238,039	148,843	$	1.60	$	217,910	147,886	$	1.47

	2013
	Income (Numerator)		Weighted Average Shares (Denominator)	Per Share
Income from continuing operations net of noncontrolling interest - basic	$	91,274	130,180	$	0.70
Dilutive shares for long-term compensation plans	—		729
Income from continuing operations net of noncontrolling interest - diluted	$	91,274	130,909	$	0.70
Discontinued operations net of noncontrolling interest - basic	$	118,464	130,180	$	0.91
Dilutive shares for long-term compensation plans	—		729
Discontinued operations net of noncontrolling interest - diluted	$	118,464	130,909	$	0.90
Net income available to common shareholders - basic	$	209,738	130,180	$	1.61
Dilutive shares for long-term compensation plans	—		729
Net income available to common shareholders - diluted	$	209,738	130,909	$	1.60

Dilutive shares for long-term compensation plans represent the unvested common shares outstanding during the year as well as the dilutive effect of outstanding options. The amounts of anti-dilutive options that were excluded from the computation of diluted income per common share as the exercise price was higher than the average share price of the Company in 2015, 2014 and 2013 were 1.5 million, 850,000 and 959,000, respectively.

During the years ended December 31, 2015, 2014 and 2013, 65,000, 44,000 and 504,000 common shares, respectively, were issued upon the exercise of options.

During the years ended December 31, 2015, 2014 and 2013, individuals acquired 14,491, 3,000 and 157,285 common shares, respectively, in exchange for the same number of common units. These individuals acquired these common units in connection with their contributions to the Operating Partnership of certain assets in prior years. The exchange of common shares for the common units is exempt from the registration requirement of the Securities Act of 1933, as amended, pursuant to Section 4(2) thereunder.

During the years ended December 31, 2015, 2014 and 2013, distributions per common share were $1.90 for each period.

Liberty Property Limited Partnership [Member]

Earnings Per Unit, Basic and Diluted [Line Items]

Earnings per common unit of the Operating Partnership [Text Block]

INCOME PER COMMON UNIT OF THE OPERATING PARTNERSHIP

The following table sets forth the computation of basic and diluted income per common unit of the Operating Partnership (in thousands, except per unit amounts):

	2015						2014
	Income (Numerator)			Weighted Average Units (Denominator)	Per Unit		Income (Numerator)			Weighted Average Units (Denominator)	Per Unit
Income from continuing operations net of noncontrolling interest - consolidated joint ventures	$	244,197					$	175,035
Less: Preferred unit distributions	(472		)				(472		)
Income from continuing operations available to common unitholders - basic	$	243,725		151,783	$	1.61	$	174,563		150,770	$	1.16
Dilutive units for long-term compensation plans	—			600			—			670
Income from continuing operations available to common unitholders - diluted	$	243,725		152,383	$	1.60	$	174,563		151,440	$	1.15
Income from discontinued operations - basic	$	—		151,783	$	—	$	48,581		150,770	$	0.32
Dilutive units for long-term compensation plans	—			600			—			670
Income from discontinued operations - diluted	$	—		152,383	$	—	$	48,581		151,440	$	0.32
Income available to common unitholders - basic	$	243,725		151,783	$	1.61	$	223,144		150,770	$	1.48
Dilutive units for long-term compensation plans	—			600			—			670
Income available to common unitholders - diluted	$	243,725		152,383	$	1.60	$	223,144		151,440	$	1.47

	2013
	Income (Numerator)			Weighted Average Units (Denominator)	Per Unit
Income from continuing operations net of noncontrolling interest - consolidated joint ventures	$	97,102
Less: Preferred unit distributions	(2,119		)
Excess of preferred unit redemption over carrying amount	(1,236		)
Income from continuing operations available to common unitholders - basic	$	93,747		133,858	$	0.70
Dilutive units for long-term compensation plans	—			729
Income from continuing operations available to common unitholders - diluted	$	93,747		134,587	$	0.70
Income from discontinued operations - basic	$	121,839		133,858	$	0.91
Dilutive units for long-term compensation plans	—			729
Income from discontinued operations - diluted	$	121,839		134,587	$	0.90
Income available to common unitholders - basic	$	215,586		133,858	$	1.61
Dilutive units for long-term compensation plans	—			729
Income available to common unitholders - diluted	$	215,586		134,587	$	1.60

Dilutive units for long-term compensation plans represent the unvested common units outstanding during the year as well as the dilutive effect of outstanding options. The amounts of anti-dilutive options that were excluded from the computation of diluted income per common unit as the exercise price was higher than the average unit price of the Company in 2015, 2014 and 2013 were 1.5 million, 850,000 and 959,000, respectively.

During the years ended December 31, 2015, 2014 and 2013, 65,000, 44,000 and 504,000 common units, respectively, were issued upon the exercise of options.

During the years ended December 31, 2015, 2014 and 2013, individuals acquired 14,491, 3,000 and 157,285 common shares of the Trust in exchange for the same number of common units of the Operating Partnership. These individuals acquired these common units in connection with their contributions to the Operating Partnership of certain assets in prior years. The exchange of common shares for the common units is exempt from the registration requirement of the Securities Act of 1933, as amended, pursuant to Section 4(2) thereunder.

During the years ended December 31, 2015, 2014 and 2013, distributions per common unit were $1.90 for each period.