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Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
OPERATING REVENUE      
Rental $ 584,165 $ 568,346 $ 458,081
Operating expense reimbursement 224,608 224,285 187,849
Operating revenue 808,773 792,631 645,930
OPERATING EXPENSE      
Rental property 132,702 138,124 114,617
Real estate taxes 105,410 101,814 79,918
General and administrative 68,710 63,327 74,564
Depreciation and amortization 226,575 231,943 173,784
Impairment - real estate assets 18,244 117 248
Total operating expenses 551,641 535,325 443,131
Operating income 257,132 257,306 202,799
OTHER INCOME (EXPENSE)      
Interest and other income 22,863 17,669 18,803
Interest expense (135,779) (151,887) (127,115)
Total other income (expense) (112,916) (134,218) (108,312)
Income before gain on property dispositions, income taxes and equity in earnings of unconsolidated joint ventures 144,216 123,088 94,487
Gain on property dispositions 100,314 45,147 0
Income taxes (3,233) (2,967) (2,799)
Equity in earnings of unconsolidated joint ventures 3,149 10,314 6,067
Income from continuing operations 244,446 175,582 97,755
Discontinued operations (including net gain on property dispositions of $46,631 and $95,384 for the years ended December 31, 2014 and 2013, respectively) 0 48,581 121,839
Net income 244,446 224,163 219,594
Noncontrolling interest - operating partnership (6,158) (5,706) (9,203)
Noncontrolling interest - consolidated joint ventures (249) (547) (653)
Excess of preferred unit redemption over carrying amount     (1,236)
Net income available to common shareholders 238,039 217,910 209,738
Comprehensive income attributable to common shareholders      
Net income 244,446 224,163 219,594
Other comprehensive (loss) income - foreign currency translation (11,433) (14,415) 5,397
Other comprehensive (loss) income - derivative instruments (488) (1,961) 1,584
Other comprehensive (loss) income (11,921) (16,376) 6,981
Total comprehensive income 232,525 207,787 226,575
Less: comprehensive income attributable to noncontrolling interest (6,127) (5,870) (9,995)
Comprehensive income attributable to common shareholders $ 226,398 $ 201,917 $ 216,580
Weighted average number of common shares outstanding      
Basic 148,243 147,216 130,180
Diluted 148,843 147,886 130,909
Amounts attributable to common shareholders      
Income from continuing operations $ 238,039 $ 170,471 $ 91,274
Discontinued operations 0 47,439 118,464
Net income available to common shareholders 238,039 217,910 209,738
Liberty Property Limited Partnership [Member]      
OPERATING REVENUE      
Rental 584,165 568,346 458,081
Operating expense reimbursement 224,608 224,285 187,849
Operating revenue 808,773 792,631 645,930
OPERATING EXPENSE      
Rental property 132,702 138,124 114,617
Real estate taxes 105,410 101,814 79,918
General and administrative 68,710 63,327 74,564
Depreciation and amortization 226,575 231,943 173,784
Impairment - real estate assets 18,244 117 248
Total operating expenses 551,641 535,325 443,131
Operating income 257,132 257,306 202,799
OTHER INCOME (EXPENSE)      
Interest and other income 22,863 17,669 18,803
Interest expense (135,779) (151,887) (127,115)
Total other income (expense) (112,916) (134,218) (108,312)
Income before gain on property dispositions, income taxes and equity in earnings of unconsolidated joint ventures 144,216 123,088 94,487
Gain on property dispositions 100,314 45,147 0
Income taxes (3,233) (2,967) (2,799)
Equity in earnings of unconsolidated joint ventures 3,149 10,314 6,067
Income from continuing operations 244,446 175,582 97,755
Discontinued operations (including net gain on property dispositions of $46,631 and $95,384 for the years ended December 31, 2014 and 2013, respectively) 0 48,581 121,839
Net income 244,446 224,163 219,594
Noncontrolling interest - consolidated joint ventures (249) (547) (653)
Preferred unit distributions (472) (472) (2,119)
Excess of preferred unit redemption over carrying amount 0 0 (1,236)
Net income available to common shareholders 243,725 223,144 215,586
Comprehensive income attributable to common shareholders      
Net income 244,446 224,163 219,594
Other comprehensive (loss) income - foreign currency translation (11,433) (14,415) 5,397
Other comprehensive (loss) income - derivative instruments (488) (1,961) 1,584
Other comprehensive (loss) income (11,921) (16,376) 6,981
Total comprehensive income $ 232,525 $ 207,787 $ 226,575
Weighted average number of common shares outstanding      
Basic 151,783 150,770 133,858
Diluted 152,383 151,440 134,587
Net Income Allocated to General Partners $ 238,039 $ 217,910 $ 209,738
Net Income Allocated to Limited Partners 6,158 5,706 9,203
Amounts attributable to common shareholders      
Income from continuing operations 244,197 175,035 97,102
Net income available to common shareholders $ 243,725 $ 223,144 $ 215,586
Common shares [Member]      
Basic:      
Income from continuing operations $ 1.61 $ 1.16 $ 0.70
Income from discontinued operations 0.00 0.32 0.91
Income per common share - basic 1.61 1.48 1.61
Diluted:      
Income from continuing operations 1.60 1.15 0.70
Income from discontinued operations 0.00 0.32 0.90
Income per common share - diluted 1.60 1.47 1.60
Common units [Member] | Liberty Property Limited Partnership [Member]      
Basic:      
Income from continuing operations 1.61 1.16 0.70
Income from discontinued operations 0.00 0.32 0.91
Income per common share - basic 1.61 1.48 1.61
Diluted:      
Income from continuing operations 1.60 1.15 0.70
Income from discontinued operations 0.00 0.32 0.90
Income per common share - diluted $ 1.60 $ 1.47 $ 1.60