Income per Common Unit of the Operating Partnership

3 Months Ended

Mar. 31, 2017

Earnings Per Unit, Basic and Diluted [Line Items]

Earnings Per Share [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):

	For the Three Months Ended					For the Three Months Ended
	March 31, 2017					March 31, 2016
	Income (Numerator)		Weighted Average Shares (Denominator)	Per Share		Income (Numerator)		Weighted Average Shares (Denominator)	Per Share
Net income available to common shareholders - basic	$	43,032	146,471	$	0.29	$	57,554	146,071	$	0.39
Dilutive shares for long-term compensation plans	—		750			—		460
Net income available to common shareholders - diluted	$	43,032	147,221	$	0.29	$	57,554	146,531	$	0.39

Dilutive shares for long-term compensation plans represent the unvested common shares outstanding during the periods as well as the dilutive effect of outstanding options. The amount of anti-dilutive options excluded from the computation of diluted income per common share for the three months ended March 31, 2017 was 188,000 as compared to 2.4 million for the same period in 2016.

During the three months ended March 31, 2017, 11,000 common shares were issued upon the exercise of options. During the year ended December 31, 2016, 369,000 common shares were issued upon the exercise of options.

Share Repurchase

In August 2015, the Company’s Board of Trustees authorized a share repurchase plan under which the Company may purchase up to $250 million of the Company’s outstanding common shares. Purchases made pursuant to the program may be made in either the open market or in privately negotiated transactions from time to time as permitted by securities laws and other legal requirements. There were no purchases under the plan during the three months ended March 31, 2017.

Liberty Property Limited Partnership [Member]

Earnings Per Unit, Basic and Diluted [Line Items]

Earnings Per Share [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):

	For the Three Months Ended						For the Three Months Ended
	March 31, 2017						March 31, 2016
	Income (Numerator)			Weighted Average Units (Denominator)	Per Unit		Income (Numerator)			Weighted Average Units (Denominator)	Per Unit
Income - net of noncontrolling interest - consolidated joint ventures	$	44,181					$	59,063
Less: Preferred unit distributions	(118		)				(118		)
Income available to common unitholders - basic	$	44,063		150,000	$	0.29	$	58,945		149,610	$	0.39
Dilutive units for long-term compensation plans	—			750			—			460
Income available to common unitholders - diluted	$	44,063		150,750	$	0.29	$	58,945		150,070	$	0.39

Dilutive units for long-term compensation plans represent the unvested common units outstanding during the periods as well as the dilutive effect of outstanding options. The amount of anti-dilutive options excluded from the computation of diluted income per common unit for the three months ended March 31, 2017 was 188,000 as compared to 2.4 million for the same period in 2016.

During the three months ended March 31, 2017, 11,000 common units were issued upon exercise of options. During the year ended December 31, 2016, 369,000 common units were issued upon the exercise of options.

Share Repurchase

In August 2015, the Company’s Board of Trustees authorized a share repurchase plan under which the Company may purchase up to $250 million of the Company’s outstanding common units. Purchases made pursuant to the program may be made in either the open market or in privately negotiated transactions from time to time as permitted by securities laws and other legal requirements. There were no purchases under the plan during the three months ended March 31, 2017.