Income per Common Unit of the Operating Partnership

9 Months Ended

Sep. 30, 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
	September 30, 2017					September 30, 2016
	Income (Numerator)		Weighted Average Shares (Denominator)	Per Share		Income (Numerator)		Weighted Average Shares (Denominator)	Per Share
Net income available to common shareholders - basic	$	59,539	146,811	$	0.41	$	54,253	146,215	$	0.37
Dilutive shares for long-term compensation plans	—		785			—		892
Net income available to common shareholders - diluted	$	59,539	147,596	$	0.40	$	54,253	147,107	$	0.37
	For the Nine Months Ended					For the Nine Months Ended
	September 30, 2017					September 30, 2016
	Income (Numerator)		Weighted Average Shares (Denominator)	Per Share		Income (Numerator)		Weighted Average Shares (Denominator)	Per Share
Net income available to common shareholders - basic	$	153,982	146,678	$	1.05	$	161,434	146,121	$	1.10
Dilutive shares for long-term compensation plans	—		752			—		667
Net income available to common shareholders - diluted	$	153,982	147,430	$	1.04	$	161,434	146,788	$	1.10

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. There were no anti-dilutive options excluded from the computation of diluted income per common share for the three and nine months ended September 30, 2017 as compared to 160,000 and 762,000, respectively, for the same periods in 2016.

During the three and nine months ended September 30, 2017, 79,000 and 167,000 common shares, respectively, 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

The Company’s Board of Trustees has authorized a share repurchase plan under which the Company may purchase up to $250 million of the Company’s outstanding common shares through September 28, 2019. 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 or nine months ended September 30, 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
	September 30, 2017						September 30, 2016
	Income (Numerator)			Weighted Average Units (Denominator)	Per Unit		Income (Numerator)			Weighted Average Units (Denominator)	Per Unit
Net income - net of noncontrolling interest - consolidated joint ventures	$	61,084					$	55,677
Less: Preferred unit distributions	(118		)				(118		)
Net income available to common unitholders - basic	$	60,966		150,339	$	0.41	$	55,559		149,751	$	0.37
Dilutive units for long-term compensation plans	—			785			—			892
Net income available to common unitholders - diluted	$	60,966		151,124	$	0.40	$	55,559		150,643	$	0.37
	For the Nine Months Ended						For the Nine Months Ended
	September 30, 2017						September 30, 2016
	Income (Numerator)			Weighted Average Units (Denominator)	Per Unit		Income (Numerator)			Weighted Average Units (Denominator)	Per Unit
Net income - net of noncontrolling interest - consolidated joint ventures	$	158,026					$	165,684
Less: Preferred unit distributions	(354		)				(354		)
Net income available to common unitholders - basic	157,672			150,206	$	1.05	165,330			149,659	$	1.10
Dilutive units for long-term compensation plans	—			752			—			667
Net income available to common unitholders - diluted	$	157,672		150,958	$	1.04	$	165,330		150,326	$	1.10

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. There were no anti-dilutive options excluded from the computation of diluted income per common unit for the three and nine months ended September 30, 2017 as compared to 160,000 and 762,000, respectively, for the same periods in 2016.

During the three and nine months ended September 30, 2017, 79,000 and 167,000 common units, respectively, 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

The Company’s Board of Trustees has authorized a share repurchase plan under which the Company may purchase up to $250 million of the Company’s outstanding common units through September 28, 2019. 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 or nine months ended September 30, 2017.