Income per Common Unit of the Operating Partnership

6 Months Ended

Jun. 30, 2018

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
	June 30, 2018					June 30, 2017
	Income (Numerator)		Weighted Average Shares (Denominator)	Per Share		Income (Numerator)		Weighted Average Shares (Denominator)	Per Share
Income from continuing operations net of noncontrolling interest - basic	$	12,123	147,274	$	0.08	$	44,071	146,688	$	0.30
Dilutive shares for long-term compensation plans	—		1,059			—		820
Income from continuing operations net of noncontrolling interest - diluted	$	12,123	148,333	$	0.08	$	44,071	147,508	$	0.30
Discontinued operations net of noncontrolling interest - basic	$	7,491	147,274	$	0.05	$	7,340	146,688	$	0.05
Dilutive shares for long-term compensation plans	—		1,059			—		820
Discontinued operations net of noncontrolling interest - diluted	$	7,491	148,333	$	0.05	$	7,340	147,508	$	0.05
Net income available to common shareholders - basic	$	19,614	147,274	$	0.13	$	51,411	146,688	$	0.35
Dilutive shares for long-term compensation plans	—		1,059			—		820
Net income available to common shareholders - diluted	$	19,614	148,333	$	0.13	$	51,411	147,508	$	0.35

	For the Six Months Ended					For the Six Months Ended
	June 30, 2018					June 30, 2017
	Income (Numerator)		Weighted Average Shares (Denominator)	Per Share		Income (Numerator)		Weighted Average Shares (Denominator)	Per Share
Income from continuing operations net of noncontrolling interest - basic	$	56,953	147,184	$	0.39	$	80,896	146,602	$	0.55
Dilutive shares for long-term compensation plans			920					753
Income from continuing operations net of noncontrolling interest - diluted	$	56,953	148,104	$	0.39	$	80,896	147,355	$	0.55
Discontinued operations net of noncontrolling interest - basic	$	102,842	147,184	$	0.70	$	13,547	146,602	$	0.09
Dilutive shares for long-term compensation plans			920					753
Discontinued operations net of noncontrolling interest - diluted	102,842		148,104	$	0.69	13,547		147,355	$	0.09
Net income available to common shareholders - basic	$	159,795	147,184	$	1.09	$	94,443	146,602	$	0.64
Dilutive shares for long-term compensation plans			920					753
Net income available to common shareholders - diluted	$	159,795	148,104	$	1.08	$	94,443	147,355	$	0.64

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 six months ended June 30, 2018 and the same periods in 2017.

During the three and six months ended June 30, 2018, 11,000 and 100,000 common shares, respectively, were issued upon the exercise of options. During the year ended December 31, 2017, 193,000 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 and six months ended June 30, 2018.

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
	June 30, 2018						June 30, 2017
	Income (Numerator)			Weighted Average Units (Denominator)	Per Unit		Income (Numerator)			Weighted Average Units (Denominator)	Per Unit
Income from continuing operations - net of noncontrolling interest - consolidated joint ventures	$	12,529					$	45,245
Less: Preferred unit distributions	(118		)				(118		)
Income from continuing operations available to common unitholders - basic	$	12,411		150,794	$	0.08	$	45,127		150,216	$	0.30
Dilutive units for long-term compensation plans	—			1,059			—			820

Income from continuing operations available to common unitholders - diluted	$	12,411		151,853	$	0.08	$	45,127		151,036	$	0.30
Income from discontinued operations - basic	$	7,670		150,794	$	0.05	$	7,516		150,216	$	0.05
Dilutive units for long-term compensation plans	—			1,059			—			820
Income from discontinued operations - diluted	$	7,670		151,853	$	0.05	$	7,516		151,036	$	0.05
Income available to common unitholders - basic	$	20,081		150,794	$	0.13	$	52,643		150,216	$	0.35
Dilutive units for long-term compensation plans	—			1,059			—			820
Income available to common unitholders - diluted	$	20,081		151,853	$	0.13	$	52,643		151,036	$	0.35
	For the Six Months Ended						For the Six Months Ended
	June 30, 2018						June 30, 2017
	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	$	58,542					$	83,070
Less: Preferred unit distributions	(236		)				(236		)
Income from continuing operations available to common unitholders - basic	58,306			150,704	$	0.39	82,834			150,130	$	0.55
Dilutive units for long-term compensation plans	—			920			—			753
Income from continuing operations available to common unitholders - diluted	58,306			151,624	$	0.39	82,834			150,883	$	0.55
Income from discontinued operations - basic	105,295			150,704	$	0.70	13,872			150,130	$	0.09
Dilutive units for long-term compensation plans	—			920			—			753
Income from discontinued operations - diluted	105,295			151,624	$	0.69	13,872			150,883	$	0.09
Net income available to common unitholders - basic	163,601			150,704	$	1.09	96,706			150,130	$	0.64
Dilutive units for long-term compensation plans	—			920			—			753
Net income available to common unitholders - diluted	$	163,601		151,624	$	1.08	$	96,706		150,883	$	0.64

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 six months ended June 30, 2018 and the same periods in 2017.

During the three and six months ended June 30, 2018, 11,000 and 100,000 common units, respectively, were issued upon exercise of options. During the year ended December 31, 2017, 193,000 common units were issued upon the exercise of options.

Unit 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 and six months ended June 30, 2018.