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Consolidated Statements of Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
OPERATING REVENUE    
Rental $ 138,934 $ 104,716
Operating expense reimbursement 58,681 42,411
Total operating revenue 197,615 147,127
OPERATING EXPENSE    
Rental property 38,561 25,229
Real estate taxes 24,501 17,957
General and administrative 18,361 19,793
Depreciation and amortization 56,734 37,220
Total operating expenses 138,157 100,199
Operating income 59,458 46,928
OTHER INCOME (EXPENSE)    
Other income 2,452 4,373
Interest expense (39,207) (27,739)
Total other income (expense) (36,755) (23,366)
Income before income taxes and equity in earnings of unconsolidated joint ventures 22,703 23,562
Income taxes (531) (491)
Equity in earnings of unconsolidated joint ventures 4,159 1,757
Income from continuing operations 26,331 24,828
Discontinued operations (including net gain on property dispositions of $46,117 and $41,713 for the three months ended March 31, 2014 and 2013, respectively) 47,775 49,828
Net income 74,106 74,656
Noncontrolling interest – operating partnership (1,853) (3,417)
Noncontrolling interest - consolidated joint ventures (353) 0
Net income available to common shareholders 71,900 71,239
Comprehensive income attributable to common shareholders    
Net income 74,106 74,656
Other comprehensive income (loss) - foreign currency translation 1,346 (4,851)
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax (511) 0
Other Comprehensive Income (Loss), Net of Tax 835 (4,851)
Total comprehensive income 74,941 69,805
Less: comprehensive income attributable to noncontrolling interest (2,226) (3,271)
Comprehensive income attributable to common shareholders 72,715 66,534
Basic:    
Income from continuing operations $ 0.17 $ 0.19
Income from discontinued operations $ 0.32 $ 0.41
Income per common share - basic $ 0.49 $ 0.60
Diluted:    
Income from continuing operations $ 0.17 $ 0.19
Income from discontinued operations $ 0.32 $ 0.41
Income per common share - diluted $ 0.49 $ 0.60
Distributions per common share or unit $ 0.475 $ 0.475
Weighted average number of common shares outstanding    
Basic 146,425 118,688
Diluted 147,095 119,532
Amounts attributable to common shareholders    
Income from continuing operations 25,250 22,908
Discontinued operations 46,650 48,331
Net income available to common shareholders 71,900 71,239
Liberty Property Limited Partnership [Member]
   
OPERATING REVENUE    
Rental 138,934 104,716
Operating expense reimbursement 58,681 42,411
Total operating revenue 197,615 147,127
OPERATING EXPENSE    
Rental property 38,561 25,229
Real estate taxes 24,501 17,957
General and administrative 18,361 19,793
Depreciation and amortization 56,734 37,220
Total operating expenses 138,157 100,199
Operating income 59,458 46,928
OTHER INCOME (EXPENSE)    
Other income 2,452 4,373
Interest expense (39,207) (27,739)
Total other income (expense) (36,755) (23,366)
Income before income taxes and equity in earnings of unconsolidated joint ventures 22,703 23,562
Income taxes (531) (491)
Equity in earnings of unconsolidated joint ventures 4,159 1,757
Income from continuing operations 26,331 24,828
Discontinued operations (including net gain on property dispositions of $46,117 and $41,713 for the three months ended March 31, 2014 and 2013, respectively) 47,775 49,828
Net income 74,106 74,656
Noncontrolling interest - consolidated joint ventures (353) 0
Preferred unit distributions (118) (1,211)
Net income available to common shareholders 73,635 73,445
Comprehensive income attributable to common shareholders    
Net income 74,106 74,656
Other comprehensive income (loss) - foreign currency translation 1,346 (4,851)
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax (511) 0
Other Comprehensive Income (Loss), Net of Tax 835 (4,851)
Total comprehensive income 74,941 69,805
Basic:    
Income from continuing operations $ 0.17 $ 0.19
Income from discontinued operations $ 0.32 $ 0.41
Income per common share - basic $ 0.49 $ 0.60
Diluted:    
Income from continuing operations $ 0.17 $ 0.19
Income from discontinued operations $ 0.32 $ 0.41
Income per common share - diluted $ 0.49 $ 0.60
Distributions per common share or unit $ 0.475 $ 0.475
Weighted average number of common shares outstanding    
Basic 149,981 122,402
Diluted 150,651 123,246
Net income allocated to general partners 71,900 71,239
Net income allocated to limited partners 1,853 3,417
Amounts attributable to common shareholders    
Income from continuing operations 25,978 24,828
Net income available to common shareholders $ 73,635 $ 73,445