XML 21 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
OPERATING REVENUE    
Rental $ 123,381 $ 139,054
Operating expense reimbursement 40,500 51,086
Development service fee income 11,485 0
Total operating revenue 175,366 190,140
OPERATING EXPENSE    
Rental property 19,884 28,509
Real estate taxes 23,281 25,320
General and administrative 16,942 20,990
Depreciation and amortization 45,460 54,078
Development service fee expense 11,004 0
Total operating expenses 116,571 128,897
Operating income 58,795 61,243
OTHER INCOME (EXPENSE)    
Interest and other income 1,876 4,598
Interest expense (22,343) (31,412)
Total other income (expense) (20,467) (26,814)
Income before gain on property dispositions, income taxes and equity in earnings of unconsolidated joint ventures 38,328 34,429
Gain on property dispositions 807 20,521
Income taxes (622) (801)
Equity in earnings of unconsolidated joint ventures 5,731 4,914
Income from continuing operations 44,244 59,063
Net income 44,244 59,063
Noncontrolling interest – operating partnership (1,149) (1,509)
Noncontrolling interest - consolidated joint ventures (63) 0
Net income available to common shareholders 43,032 57,554
Comprehensive income attributable to common shareholders    
Net income 44,244 59,063
Other comprehensive gain (loss) - foreign currency translation 3,177 (5,087)
Other comprehensive gain (loss) - derivative instruments 313 (1,360)
Other comprehensive income (loss) 3,490 (6,447)
Total comprehensive income 47,734 52,616
Less: comprehensive income attributable to noncontrolling interest (1,293) (1,357)
Comprehensive income attributable to common shareholders $ 46,441 $ 51,259
Weighted average number of common shares outstanding    
Basic 146,471 146,071
Diluted 147,221 146,531
Amounts attributable to common shareholders    
Net income available to common shareholders $ 43,032 $ 57,554
Liberty Property Limited Partnership [Member]    
OPERATING REVENUE    
Rental 123,381 139,054
Operating expense reimbursement 40,500 51,086
Development service fee income 11,485 0
Total operating revenue 175,366 190,140
OPERATING EXPENSE    
Rental property 19,884 28,509
Real estate taxes 23,281 25,320
General and administrative 16,942 20,990
Depreciation and amortization 45,460 54,078
Development service fee expense 11,004 0
Total operating expenses 116,571 128,897
Operating income 58,795 61,243
OTHER INCOME (EXPENSE)    
Interest and other income 1,876 4,598
Interest expense (22,343) (31,412)
Total other income (expense) (20,467) (26,814)
Income before gain on property dispositions, income taxes and equity in earnings of unconsolidated joint ventures 38,328 34,429
Gain on property dispositions 807 20,521
Income taxes (622) (801)
Equity in earnings of unconsolidated joint ventures 5,731 4,914
Net income 44,244 59,063
Noncontrolling interest - consolidated joint ventures (63) 0
Preferred unit distributions (118) (118)
Net income available to common shareholders 44,063 58,945
Comprehensive income attributable to common shareholders    
Net income 44,244 59,063
Other comprehensive gain (loss) - foreign currency translation 3,177 (5,087)
Other comprehensive gain (loss) - derivative instruments 313 (1,360)
Other comprehensive income (loss) 3,490 (6,447)
Total comprehensive income $ 47,734 $ 52,616
Weighted average number of common shares outstanding    
Basic 150,000 149,610
Diluted 150,750 150,070
Net income allocated to general partners $ 43,032 $ 57,554
Net income allocated to limited partners 1,149 1,509
Amounts attributable to common shareholders    
Income from continuing operations 44,181 59,063
Net income available to common shareholders $ 44,063 $ 58,945
Common shares [Member]    
Basic:    
Income per common share - basic $ 0.29 $ 0.39
Diluted:    
Income per common share - diluted 0.29 0.39
Distributions per common share or unit 0.40 0.475
Common Units [Member] | Liberty Property Limited Partnership [Member]    
Basic:    
Income per common share - basic 0.29 0.39
Diluted:    
Income per common share - diluted 0.29 0.39
Distributions per common share or unit $ 0.40 $ 0.475