Income per Common Unit of the Operating Partnership

12 Months Ended

Dec. 31, 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):

	2013					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	$	91,274	130,180	$	0.70	$	88,008	116,863	$	0.75
Dilutive shares for long-term compensation plans	—		729			—		831
Diluted income from continuing operations
Income from continuing operations net of noncontrolling interest	91,274		130,909	$	0.70	88,008		117,694	$	0.75
Basic income from discontinued operations
Discontinued operations net of noncontrolling interest	118,464		130,180	$	0.91	49,428		116,863	$	0.43
Dilutive shares for long-term compensation plans	—		729			—		831
Diluted income from discontinued operations
Discontinued operations net of noncontrolling interest	118,464		130,909	$	0.90	49,428		117,694	$	0.42
Basic income per common share
Net income available to common shareholders	209,738		130,180	$	1.61	137,436		116,863	$	1.18
Dilutive shares for long-term compensation plans	—		729			—		831
Diluted income per common share
Net income available to common shareholders	$	209,738	130,909	$	1.60	$	137,436	117,694	$	1.17

	2011
	Income (Numerator)		Weighted Average Shares (Denominator)	Per Share
Basic income from continuing operations
Income from continuing operations net of noncontrolling interest	$	81,392	114,755	$	0.71
Dilutive shares for long-term compensation plans	—		748
Diluted income from continuing operations
Income from continuing operations net of noncontrolling interest	81,392		115,503	$	0.70
Basic income from discontinued operations
Discontinued operations net of noncontrolling interest	102,607		114,755	$	0.89
Dilutive shares for long-term compensation plans	—		748
Diluted income from discontinued operations
Discontinued operations net of noncontrolling interest	102,607		115,503	$	0.89
Basic income per common share
Net income available to common shareholders	183,999		114,755	$	1.60
Dilutive shares for long-term compensation plans	—		748
Diluted income per common share
Net income available to common shareholders	$	183,999	115,503	$	1.59

Dilutive shares for long-term compensation plans represent the unvested common shares outstanding during the year as well as the dilutive effect of outstanding options. The amounts of anti-dilutive options that were excluded from the computation of diluted income per common share as the exercise price was higher than the average share price of the Company in 2013, 2012 and 2011 were 959,000, 905,000 and 1,685,000, respectively.

During the years ended December 31, 2013, 2012 and 2011, 504,000, 841,000 and 256,000 common shares, respectively, were issued upon the exercise of options.

During the years ended December 31, 2013, 2012 and 2011, individuals acquired 157,285, 94,895 and 119,987 common shares, respectively, in exchange for the same number of common units. These individuals acquired these common units in connection with their contributions to the Operating Partnership of certain assets in prior years. The exchange of common shares for the common units is exempt from the registration requirement of the Securities Act of 1933, as amended, pursuant to Section 4(2) thereunder.

During the years ended December 31, 2013, 2012 and 2011, distributions per common share were $1.90 for each period.

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):

	2013						2012
	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	$	97,102					$	97,022
Less: Preferred unit distributions	(2,119		)				(9,902		)
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	93,747			133,858	$	0.70	90,809			120,623	$	0.75
Dilutive units for long-term compensation plans	—			729			—			831
Diluted income from continuing operations
Income from continuing operations available to common unitholders	93,747			134,587	$	0.70	90,809			121,454	$	0.75
Basic income from discontinued operations
Discontinued operations	121,839			133,858	$	0.91	51,004			120,623	$	0.43
Dilutive units for long-term compensation plans	—			729			—			831
Diluted income from discontinued operations
Discontinued operations	121,839			134,587	$	0.90	51,004			121,454	$	0.42
Basic income per common unit
Income available to common unitholders	215,586			133,858	$	1.61	141,813			120,623	$	1.18
Dilutive units for long-term compensation plans	—			729			—			831
Diluted income per common unit
Income available to common unitholders	$	215,586		134,587	$	1.60	$	141,813		121,454	$	1.17

	2011
	Income (Numerator)			Weighted Average Units (Denominator)	Per Unit
Income from continuing operations net of noncontrolling interest - consolidated joint ventures	$	105,156
Less: Preferred unit distributions	(21,069		)
Basic income from continuing operations
Income from continuing operations available to common unitholders	84,087			118,624	$	0.71
Dilutive units for long-term compensation plans	—			748
Diluted income from continuing operations
Income from continuing operations available to common unitholders	84,087			119,372	$	0.70
Basic income from discontinued operations
Discontinued operations	106,065			118,624	$	0.89
Dilutive units for long-term compensation plans	—			748
Diluted income from discontinued operations
Discontinued operations	106,065			119,372	$	0.89
Basic income per common unit
Income available to common unitholders	190,152			118,624	$	1.60
Dilutive units for long-term compensation plans	—			748
Diluted income per common unit
Income available to common unitholders	$	190,152		119,372	$	1.59

Dilutive units for long-term compensation plans represent the unvested common units outstanding during the year as well as the dilutive effect of outstanding options. The amounts of anti-dilutive options that were excluded from the computation of diluted income per common unit as the exercise price was higher than the average unit price of the Company in 2013, 2012 and 2011 were 959,000, 905,000 and 1,685,000, respectively.

During the years ended December 31, 2013, 2012 and 2011, 504,000, 841,000 and 256,000 common units, respectively, were issued upon the exercise of options.

During the years ended December 31, 2013, 2012 and 2011, individuals acquired 157,285, 94,895 and 119,987 common shares of the Trust in exchange for the same number of common units of the Operating Partnership. These individuals acquired these common units in connection with their contributions to the Operating Partnership of certain assets in prior years. The exchange of common shares for the common units is exempt from the registration requirement of the Securities Act of 1933, as amended, pursuant to Section 4(2) thereunder.

During the years ended December 31, 2013, 2012 and 2011, distributions per common unit were $1.90 for each period.