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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
Real estate:    
Land and land improvements $ 1,094,470 $ 1,184,927
Building and improvements 4,501,921 5,131,648
Less accumulated depreciation (940,115) (1,148,928)
Operating real estate 4,656,276 5,167,647
Development in progress 267,450 360,948
Land held for development 336,569 336,967
Net real estate 5,260,295 5,865,562
Cash and cash equivalents 43,642 35,353
Restricted cash 12,383 9,018
Accounts receivable, net 13,994 14,343
Deferred rent receivable, net 109,245 118,787
Deferred financing and leasing costs, net 153,393 192,109
Investments in and advances to unconsolidated joint ventures 245,078 218,454
Assets held for sale 4,548 4,954
Prepaid expenses and other assets 150,235 99,049
Total assets 5,992,813 6,557,629
LIABILITIES    
Mortgage loans, net 276,650 307,908
Unsecured notes, net 2,280,286 2,580,108
Credit facility 0 259,000
Accounts payable 65,914 51,382
Accrued interest 21,878 26,154
Dividend and distributions payable 71,501 71,787
Other liabilities 206,124 223,499
Total liabilities 2,922,353 3,519,838
Noncontrolling interest - operating partnership - 301,483 preferred units outstanding as of December 31, 2016 and December 31, 2015 7,537 7,537
EQUITY    
Common shares of beneficial interest, $.001 par value, 283,987,000 shares authorized; 146,993,018 and 147,577,984 shares issued and outstanding as of December 31, 2016 and December 31, 2015, respectively 147 148
Additional paid-in capital 3,655,910 3,669,627
Accumulated other comprehensive loss (56,031) (22,506)
Distributions in excess of net income (596,635) (674,688)
Total Liberty Property Trust shareholders’ equity 3,003,391 2,972,581
Noncontrolling interest – operating partnership    
3,530,031 and 3,539,075 common units outstanding as of December 31, 2016 and December 31, 2015, respectively 54,631 53,754
Noncontrolling interest – consolidated joint ventures 4,901 3,919
Total equity 3,062,923 3,030,254
Total liabilities, noncontrolling interest - operating partnership and equity 5,992,813 6,557,629
Liberty Property Limited Partnership [Member]    
Real estate:    
Land and land improvements 1,094,470 1,184,927
Building and improvements 4,501,921 5,131,648
Less accumulated depreciation (940,115) (1,148,928)
Operating real estate 4,656,276 5,167,647
Development in progress 267,450 360,948
Land held for development 336,569 336,967
Net real estate 5,260,295 5,865,562
Cash and cash equivalents 43,642 35,353
Restricted cash 12,383 9,018
Accounts receivable, net 13,994 14,343
Deferred rent receivable, net 109,245 118,787
Deferred financing and leasing costs, net 153,393 192,109
Investments in and advances to unconsolidated joint ventures 245,078 218,454
Assets held for sale 4,548 4,954
Prepaid expenses and other assets 150,235 99,049
Total assets 5,992,813 6,557,629
LIABILITIES    
Mortgage loans, net 276,650 307,908
Unsecured notes, net 2,280,286 2,580,108
Credit facility 0 259,000
Accounts payable 65,914 51,382
Accrued interest 21,878 26,154
Dividend and distributions payable 71,501 71,787
Other liabilities 206,124 223,499
Total liabilities 2,922,353 3,519,838
Noncontrolling interest - operating partnership - 301,483 preferred units outstanding as of December 31, 2016 and December 31, 2015 7,537 7,537
EQUITY    
General partner’s equity - 146,993,018 and 147,577,984 common units outstanding as of December 31, 2016 and December 31, 2015, respectively 3,003,391 2,972,581
Limited partners’ equity – 3,530,031 and 3,539,075 common units outstanding as of December 31, 2016 and December 31, 2015, respectively 54,631 53,754
Noncontrolling interest – operating partnership    
Noncontrolling interest – consolidated joint ventures 4,901 3,919
Total equity 3,062,923 3,030,254
Total liabilities, noncontrolling interest - operating partnership and equity $ 5,992,813 $ 6,557,629