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Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
OPERATING REVENUE        
Rental $ 140,697,000 $ 145,009,000 $ 418,896,000 $ 440,962,000
Operating expense reimbursement 50,160,000 53,963,000 148,757,000 168,430,000
Total operating revenue 190,857,000 198,972,000 567,653,000 609,392,000
OPERATING EXPENSE        
Rental property 26,496,000 31,454,000 79,752,000 98,973,000
Real estate taxes 25,968,000 25,953,000 76,490,000 78,579,000
General and administrative 16,151,000 15,573,000 52,770,000 51,428,000
Depreciation and amortization 46,920,000 55,718,000 154,543,000 171,347,000
Impairment - real estate assets 0 0 0 16,775,000
Total operating expenses 115,535,000 128,698,000 363,555,000 417,102,000
Operating income 75,322,000 70,274,000 204,098,000 192,290,000
OTHER INCOME (EXPENSE)        
Interest and other income 3,153,000 4,959,000 12,743,000 17,911,000
Loss on debt extinguishment (3,494,000) 0 (3,494,000) 0
Interest expense (29,528,000) (33,559,000) (91,071,000) (103,295,000)
Total other income (expense) (29,869,000) (28,600,000) (81,822,000) (85,384,000)
Income before gain on property dispositions, income taxes and equity in earnings (loss) of unconsolidated joint ventures 45,453,000 41,674,000 122,276,000 106,906,000
Gain on property dispositions 1,318,000 53,467,000 25,671,000 56,987,000
Income taxes (80,000) (599,000) (1,633,000) (2,613,000)
Equity in earnings (loss) of unconsolidated joint ventures 9,043,000 (847,000) 19,540,000 805,000
Income from continuing operations 55,734,000 93,695,000 165,854,000 162,085,000
Net income 55,734,000 93,695,000 165,854,000 162,085,000
Noncontrolling interest – operating partnership (1,424,000) (2,306,000) (4,250,000) (4,117,000)
Noncontrolling interest - consolidated joint ventures (57,000) (58,000) (170,000) (171,000)
Net income available to common shareholders 54,253,000 91,331,000 161,434,000 157,797,000
Comprehensive income attributable to common shareholders        
Net income 55,734,000 93,695,000 165,854,000 162,085,000
Other comprehensive loss - foreign currency translation (4,407,000) (7,970,000) (23,003,000) (6,229,000)
Other comprehensive gain (loss) - derivative instruments 663,000 (1,220,000) (1,132,000) (1,539,000)
Other comprehensive loss (3,744,000) (9,190,000) (24,135,000) (7,768,000)
Total comprehensive income 51,990,000 84,505,000 141,719,000 154,317,000
Less: comprehensive income attributable to noncontrolling interest (1,393,000) (2,148,000) (3,851,000) (4,105,000)
Comprehensive income attributable to common shareholders $ 50,597,000 $ 82,357,000 $ 137,868,000 $ 150,212,000
Weighted average number of common shares outstanding        
Basic 146,215 148,582 146,121 148,594
Diluted 147,107 149,176 146,788 149,220
Amounts attributable to common shareholders        
Net income available to common shareholders $ 54,253,000 $ 91,331,000 $ 161,434,000 $ 157,797,000
Liberty Property Limited Partnership [Member]        
OPERATING REVENUE        
Rental 140,697,000 145,009,000 418,896,000 440,962,000
Operating expense reimbursement 50,160,000 53,963,000 148,757,000 168,430,000
Total operating revenue 190,857,000 198,972,000 567,653,000 609,392,000
OPERATING EXPENSE        
Rental property 26,496,000 31,454,000 79,752,000 98,973,000
Real estate taxes 25,968,000 25,953,000 76,490,000 78,579,000
General and administrative 16,151,000 15,573,000 52,770,000 51,428,000
Depreciation and amortization 46,920,000 55,718,000 154,543,000 171,347,000
Impairment - real estate assets     0 16,775,000
Total operating expenses 115,535,000 128,698,000 363,555,000 417,102,000
Operating income 75,322,000 70,274,000 204,098,000 192,290,000
OTHER INCOME (EXPENSE)        
Interest and other income 3,153,000 4,959,000 12,743,000 17,911,000
Loss on debt extinguishment (3,494,000) 0 (3,494,000) 0
Interest expense (29,528,000) (33,559,000) (91,071,000) (103,295,000)
Total other income (expense) (29,869,000) (28,600,000) (81,822,000) (85,384,000)
Income before gain on property dispositions, income taxes and equity in earnings (loss) of unconsolidated joint ventures 45,453,000 41,674,000 122,276,000 106,906,000
Gain on property dispositions 1,318,000 53,467,000 25,671,000 56,987,000
Income taxes (80,000) (599,000) (1,633,000) (2,613,000)
Equity in earnings (loss) of unconsolidated joint ventures 9,043,000 (847,000) 19,540,000 805,000
Net income 55,734,000 93,695,000 165,854,000 162,085,000
Noncontrolling interest - consolidated joint ventures (57,000) (58,000) (170,000) (171,000)
Preferred unit distributions (118,000) (118,000) (354,000) (354,000)
Net income available to common shareholders 55,559,000 93,519,000 165,330,000 161,560,000
Comprehensive income attributable to common shareholders        
Net income 55,734,000 93,695,000 165,854,000 162,085,000
Other comprehensive loss - foreign currency translation (4,407,000) (7,970,000) (23,003,000) (6,229,000)
Other comprehensive gain (loss) - derivative instruments 663,000 (1,220,000) (1,132,000) (1,539,000)
Other comprehensive loss (3,744,000) (9,190,000) (24,135,000) (7,768,000)
Total comprehensive income $ 51,990,000 $ 84,505,000 $ 141,719,000 $ 154,317,000
Weighted average number of common shares outstanding        
Basic 149,751 152,121 149,659 152,134
Diluted 150,643 152,715 150,326 152,760
Net income allocated to general partners $ 54,253,000 $ 91,331,000 $ 161,434,000 $ 157,797,000
Net income allocated to limited partners 1,424,000 2,306,000 4,250,000 4,117,000
Amounts attributable to common shareholders        
Income from continuing operations 55,677,000 93,637,000 165,684,000 161,914,000
Net income available to common shareholders $ 55,559,000 $ 93,519,000 $ 165,330,000 $ 161,560,000
Common shares [Member]        
Basic:        
Income per common share - basic $ 0.37 $ 0.61 $ 1.10 $ 1.06
Diluted:        
Income per common share - diluted 0.37 0.61 1.10 1.06
Distributions per common share or unit 0.475 0.475 1.425 1.425
Common Units [Member] | Liberty Property Limited Partnership [Member]        
Basic:        
Income per common share - basic 0.37 0.61 1.10 1.06
Diluted:        
Income per common share - diluted 0.37 0.61 1.10 1.06
Distributions per common share or unit $ 0.475 $ 0.475 $ 1.425 $ 1.425