Income per Common Unit of the Operating Partnership

6 Months Ended

Jun. 30, 2013

Income Per Common Unit [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, 2013					June 30, 2012
	Income (Numerator)		Weighted Average Shares (Denominator)	Per Share		Income (Numerator)		Weighted Average Shares (Denominator)	Per Share
Basic income from continuing operations
Income from continuing operations net of noncontrolling interest	$	33,362	120,081	$	0.27	$	29,449	116,683	$	0.25
Dilutive shares for long-term compensation plans	—		830			—		876
Diluted income from continuing operations
Income from continuing operations net of noncontrolling interest	$	33,362	120,911	$	0.27	$	29,449	117,559	$	0.25
Basic income from discontinued operations
Discontinued operations net of noncontrolling interest	$	6,747	120,081	$	0.06	$	4,662	116,683	$	0.04
Dilutive shares for long-term compensation plans	—		830			—		876
Diluted income from discontinued operations
Discontinued operations net of noncontrolling interest	$	6,747	120,911	$	0.06	$	4,662	117,559	$	0.04
Basic income per common share
Net income available to common shareholders	$	40,109	120,081	$	0.33	$	34,111	116,683	$	0.29
Dilutive shares for long-term compensation plans	—		830			—		876
Diluted income per common share
Net income available to common shareholders	$	40,109	120,911	$	0.33	$	34,111	117,559	$	0.29

	For the Six Months Ended					For the Six Months Ended
	June 30, 2013					June 30, 2012
	Income (Numerator)		Weighted Average Shares (Denominator)	Per Share		Income (Numerator)		Weighted Average Shares (Denominator)	Per Share
Basic income from continuing operations
Income from continuing operations net of noncontrolling interest	$	62,762	119,416	$	0.53	$	60,786	116,359	$	0.52
Dilutive shares for long-term compensation plans	—		813			—		806
Diluted income from continuing operations
Income from continuing operations net of noncontrolling interest	62,762		120,229	$	0.53	60,786		117,165	$	0.52
Basic income from discontinued operations
Discontinued operations net of noncontrolling interest	48,586		119,416	$	0.40	10,414		116,359	$	0.09
Dilutive shares for long-term compensation plans	—		813			—		806
Diluted income from discontinued operations
Discontinued operations net of noncontrolling interest	48,586		120,229	$	0.40	10,414		117,165	$	0.09
Basic income per common share
Net income available to common shareholders	111,348		119,416	$	0.93	71,200		116,359	$	0.61
Dilutive shares for long-term compensation plans	—		813			—		806
Diluted income per common share
Net income available to common shareholders	$	111,348	120,229	$	0.93	$	71,200	117,165	$	0.61

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 and six months ended June 30, 2013 were 625,000 and 773,000, respectively, as compared to 953,000 and 925,000, respectively, for the same periods in 2012.

During the three and six months ended June 30, 2013, 120,000 and 477,000 common shares were issued upon the exercise of options. During the year ended December 31, 2012, 841,000 common shares were issued upon the exercise of options.

Liberty Property Limited Partnership [Member]

Income Per Common Unit [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, 2013						June 30, 2012
	Income (Numerator)			Weighted Average Units (Denominator)	Per Unit		Income (Numerator)			Weighted Average Units (Denominator)	Per Unit
Income from continuing operations	$	36,290					$	32,870
Less: Preferred unit distributions	(672		)				(2,444		)
Excess of preferred unit redemption over carrying amount	(1,236		)				(40		)
Basic income from continuing operations
Income from continuing operations available to common unitholders	$	34,382		123,795	$	0.27	$	30,386		120,450	$	0.25
Dilutive units for long-term compensation plans	—			830			—			876
Diluted income from continuing operations
Income from continuing operations available to common unitholders	$	34,382		124,625	$	0.27	$	30,386		121,326	$	0.25
Basic income from discontinued operations
Discontinued operations	$	6,953		123,795	$	0.06	$	4,810		120,450	$	0.04
Dilutive units for long-term compensation plans	—			830			—			876
Diluted income from discontinued operations
Discontinued operations	$	6,953		124,625	$	0.06	$	4,810		121,326	$	0.04
Basic income per common unit
Income available to common unitholders	$	41,335		123,795	$	0.33	$	35,196		120,450	$	0.29
Dilutive units for long-term compensation plans	—			830			—			876
Diluted income per common unit
Income available to common unitholders	$	41,335		124,625	$	0.33	$	35,196		121,326	$	0.29

	For the Six Months Ended						For the Six Months Ended
	June 30, 2013						June 30, 2012
	Income (Numerator)			Weighted Average Units (Denominator)	Per Unit		Income (Numerator)			Weighted Average Units (Denominator)	Per Unit
Income from continuing operations	$	67,821					$	66,533
Less: Preferred unit distributions	(1,883		)				(7,479		)
Excess of preferred unit (redemption over carrying amount) carrying amount over redemption	(1,236		)				3,689
Basic income from continuing operations
Income from continuing operations available to common unitholders	64,702			123,130	$	0.53	62,743			120,147	$	0.52
Dilutive units for long-term compensation plans	—			813			—			806
Diluted income from continuing operations
Income from continuing operations available to common unitholders	64,702			123,943	$	0.53	62,743			120,953	$	0.52
Basic income from discontinued operations
Discontinued operations	50,078			123,130	$	0.40	10,749			120,147	$	0.09
Dilutive units for long-term compensation plans	—			813			—			806
Diluted income from discontinued operations
Discontinued operations	50,078			123,943	$	0.40	10,749			120,953	$	0.09
Basic income per common unit
Income available to common unitholders	114,780			123,130	$	0.93	73,492			120,147	$	0.61
Dilutive units for long-term compensation plans	—			813			—			806
Diluted income per common unit
Income available to common unitholders	$	114,780		123,943	$	0.93	$	73,492		120,953	$	0.61

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 and six months ended June 30, 2013 were 625,000 and 773,000, respectively, as compared to 953,000 and 925,000, respectively, for the same periods in 2012.

During the three and six months ended June 30, 2013, 120,000 and 477,000 common units were issued upon the exercise of options. During the year ended December 31, 2012, 841,000 common units were issued upon the exercise of options.