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Consolidated Statements of Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
OPERATING REVENUE        
Rental $ 128,044 $ 116,666 $ 375,702 $ 348,955
Operating expense reimbursement 55,342 51,017 160,476 148,187
Total operating revenue 183,386 167,683 536,178 497,142
OPERATING EXPENSE        
Rental property 35,213 33,934 99,746 93,840
Real estate taxes 22,107 19,517 65,007 59,167
General and administrative 17,231 14,610 53,552 46,391
Depreciation and amortization 46,036 40,149 135,560 120,337
Total operating expenses 120,587 108,210 353,865 319,735
Operating income 62,799 59,473 182,313 177,407
OTHER INCOME (EXPENSE)        
Interest and other income 2,620 2,340 7,612 7,055
Interest expense (37,412) (30,772) (101,141) (88,941)
Total other income (expense) (34,792) (28,432) (93,529) (81,886)
Income before gain on property dispositions, income taxes and equity in earnings (loss) of unconsolidated joint ventures 28,007 31,041 88,784 95,521
Gain on property dispositions 1,958 2,001 6,829 2,859
Income taxes (629) (321) (1,780) (645)
Equity in earnings (loss) of unconsolidated joint ventures 650 (3,082) 3,973 (1,397)
Income from continuing operations 29,986 29,639 97,806 96,338
Discontinued operations (including net gain on property dispositions of $29 for the quarter ended September 30, 2013 and net loss of $1,540 for the quarter ended September 30, 2012) (38) 259 50,041 10,842
Net income 29,948 29,898 147,847 107,180
Noncontrolling interest – operating partnership (843) (2,092) (7,394) (8,174)
Noncontrolling interest - consolidated joint ventures (406) 0 (406) 0
Preferred stock redemption premium     (1,236)  
Net income available to common shareholders 28,699 27,806 140,047 99,006
Comprehensive income attributable to common shareholders        
Net income 29,948 29,898 147,847 107,180
Other comprehensive income 4,927 2,245 115 3,047
Total comprehensive income 34,875 32,143 147,962 110,227
Less: comprehensive income attributable to noncontrolling interest (1,370) (2,161) (7,777) (8,269)
Comprehensive income attributable to common shareholders 33,505 29,982 140,185 101,958
Basic:        
Income from continuing operations $ 0.21 $ 0.24 $ 0.73 $ 0.76
Income from discontinued operations $ 0.00 $ 0.00 $ 0.39 $ 0.09
Income per common share - basic $ 0.21 $ 0.24 $ 1.12 $ 0.85
Diluted:        
Income from continuing operations $ 0.21 $ 0.24 $ 0.72 $ 0.75
Income from discontinued operations $ 0.00 $ 0.00 $ 0.39 $ 0.09
Income per common share - diluted $ 0.21 $ 0.24 $ 1.11 $ 0.84
Distributions per common share or unit $ 0.475 $ 0.475 $ 1.425 $ 1.425
Weighted average number of common shares outstanding        
Basic 135,628 117,141 124,889 116,625
Diluted 136,328 118,043 125,655 117,462
Amounts attributable to common shareholders        
Income from continuing operations 28,736 27,555 91,442 88,500
Discontinued operations (37) 251 48,605 10,506
Net income available to common shareholders 28,699 27,806 140,047 99,006
Liberty Property Limited Partnership [Member]
       
OPERATING REVENUE        
Rental 128,044 116,666 375,702 348,955
Operating expense reimbursement 55,342 51,017 160,476 148,187
Total operating revenue 183,386 167,683 536,178 497,142
OPERATING EXPENSE        
Rental property 35,213 33,934 99,746 93,840
Real estate taxes 22,107 19,517 65,007 59,167
General and administrative 17,231 14,610 53,552 46,391
Depreciation and amortization 46,036 40,149 135,560 120,337
Total operating expenses 120,587 108,210 353,865 319,735
Operating income 62,799 59,473 182,313 177,407
OTHER INCOME (EXPENSE)        
Interest and other income 2,620 2,340 7,612 7,055
Interest expense (37,412) (30,772) (101,141) (88,941)
Total other income (expense) (34,792) (28,432) (93,529) (81,886)
Income before gain on property dispositions, income taxes and equity in earnings (loss) of unconsolidated joint ventures 28,007 31,041 88,784 95,521
Gain on property dispositions 1,958 2,001 6,829 2,859
Income taxes (629) (321) (1,780) (645)
Equity in earnings (loss) of unconsolidated joint ventures 650 (3,082) 3,973 (1,397)
Income from continuing operations 29,986 29,639 97,806 96,338
Discontinued operations (including net gain on property dispositions of $29 for the quarter ended September 30, 2013 and net loss of $1,540 for the quarter ended September 30, 2012) (38) 259 50,041 10,842
Net income 29,948 29,898 147,847 107,180
Noncontrolling interest - consolidated joint ventures (406) 0 (406) 0
Preferred unit distributions (118) (1,211) (2,001) (8,690)
Preferred stock redemption premium     (1,236)  
Preferred stock redemption discount       3,689
Net income available to common shareholders 29,424 28,687 144,204 102,179
Comprehensive income attributable to common shareholders        
Net income 29,948 29,898 147,847 107,180
Other comprehensive income 4,927 2,245 115 3,047
Total comprehensive income 34,875 32,143 147,962 110,227
Basic:        
Income from continuing operations $ 0.21 $ 0.24 $ 0.73 $ 0.76
Income from discontinued operations $ 0.00 $ 0.00 $ 0.39 $ 0.09
Income per common share - basic $ 0.21 $ 0.24 $ 1.12 $ 0.85
Diluted:        
Income from continuing operations $ 0.21 $ 0.24 $ 0.72 $ 0.75
Income from discontinued operations $ 0.00 $ 0.00 $ 0.39 $ 0.09
Income per common share - diluted $ 0.21 $ 0.24 $ 1.11 $ 0.84
Distributions per common share or unit $ 0.475 $ 0.475 $ 1.425 $ 1.425
Weighted average number of common shares outstanding        
Basic 139,320 120,880 128,595 120,396
Diluted 140,020 121,782 129,361 121,233
Net income allocated to general partners 28,699 27,806 140,047 99,006
Net income allocated to limited partners 843 2,092 7,394 8,174
Amounts attributable to common shareholders        
Income from continuing operations 29,580 29,639 97,400 96,338
Net income available to common shareholders $ 29,424 $ 28,687 $ 144,204 $ 102,179