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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2017
Dec. 31, 2016
Real estate:    
Land and land improvements $ 1,153,680 $ 1,060,065
Building and improvements 4,443,583 4,298,012
Less accumulated depreciation (940,613) (847,106)
Operating real estate 4,656,650 4,510,971
Development in progress 378,472 267,450
Land held for development 330,748 336,569
Net real estate 5,365,870 5,114,990
Cash and cash equivalents 11,882 43,642
Restricted cash 13,803 12,383
Accounts receivable, net 11,230 13,365
Deferred rent receivable, net 115,141 102,878
Deferred financing and leasing costs, net 159,250 147,038
Investments in and advances to unconsolidated joint ventures 288,456 245,078
Assets held for sale 182,228 164,888
Prepaid expenses and other assets 291,897 148,551
Total assets 6,439,757 5,992,813
LIABILITIES    
Mortgage loans, net 267,093 276,650
Unsecured notes, net 2,283,513 2,280,286
Credit facilities 358,939 0
Accounts payable 79,605 64,951
Accrued interest 21,796 21,878
Dividend and distributions payable 60,330 71,501
Other liabilities 208,027 199,008
Liabilities held for sale 4,551 8,079
Total liabilities 3,283,854 2,922,353
Noncontrolling interest - operating partnership - 301,483 preferred units outstanding as of December 31, 2017 and December 31, 2016 7,537 7,537
EQUITY    
Common shares of beneficial interest, $.001 par value, 283,987,000 shares authorized; 147,450,691 and 146,993,018 shares issued and outstanding as of December 31, 2017 and December 31, 2016, respectively 147 147
Additional paid-in capital 3,674,978 3,655,910
Accumulated other comprehensive loss (37,797) (56,031)
Distributions in excess of net income (549,970) (596,635)
Total Liberty Property Trust shareholders’ equity 3,087,358 3,003,391
Noncontrolling interest – operating partnership    
3,520,205 and 3,530,031 common units outstanding as of December 31, 2017 and December 31, 2016, respectively 56,159 54,631
Noncontrolling interest – consolidated joint ventures 4,849 4,901
Total equity 3,148,366 3,062,923
Total liabilities, noncontrolling interest - operating partnership and equity 6,439,757 5,992,813
Liberty Property Limited Partnership [Member]    
Real estate:    
Land and land improvements 1,153,680 1,060,065
Building and improvements 4,443,583 4,298,012
Less accumulated depreciation (940,613) (847,106)
Operating real estate 4,656,650 4,510,971
Development in progress 378,472 267,450
Land held for development 330,748 336,569
Net real estate 5,365,870 5,114,990
Cash and cash equivalents 11,882 43,642
Restricted cash 13,803 12,383
Accounts receivable, net 11,230 13,365
Deferred rent receivable, net 115,141 102,878
Deferred financing and leasing costs, net 159,250 147,038
Investments in and advances to unconsolidated joint ventures 288,456 245,078
Assets held for sale 182,228 164,888
Prepaid expenses and other assets 291,897 148,551
Total assets 6,439,757 5,992,813
LIABILITIES    
Mortgage loans, net 267,093 276,650
Unsecured notes, net 2,283,513 2,280,286
Credit facilities 358,939 0
Accounts payable 79,605 64,951
Accrued interest 21,796 21,878
Dividend and distributions payable 60,330 71,501
Other liabilities 208,027 199,008
Liabilities held for sale 4,551 8,079
Total liabilities 3,283,854 2,922,353
Noncontrolling interest - operating partnership - 301,483 preferred units outstanding as of December 31, 2017 and December 31, 2016 7,537 7,537
EQUITY    
General partner’s equity - 147,450,691 and 146,993,018 common units outstanding as of December 31, 2017 and December 31, 2016, respectively 3,087,358 3,003,391
Limited partners’ equity – 3,520,205 and 3,530,031 common units outstanding as of December 31, 2017 and December 31, 2016, respectively 56,159 54,631
Noncontrolling interest – operating partnership    
Noncontrolling interest – consolidated joint ventures 4,849 4,901
Total equity 3,148,366 3,062,923
Total liabilities, noncontrolling interest - operating partnership and equity $ 6,439,757 $ 5,992,813