Income per Common Unit of the Operating Partnership

3 Months Ended

Mar. 31, 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
	March 31, 2018					March 31, 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	$	48,043	147,060	$	0.33	$	40,204	146,471	$	0.27
Dilutive shares for long-term compensation plans	—		813			—		750
Income from continuing operations net of noncontrolling interest - diluted	$	48,043	147,873	$	0.33	$	40,204	147,221	$	0.27
Discontinued operations net of noncontrolling interest - basic	$	92,138	147,060	$	0.62	$	2,828	146,471	$	0.02
Dilutive shares for long-term compensation plans	—		813			—		750
Discontinued operations net of noncontrolling interest - diluted	$	92,138	147,873	$	0.62	$	2,828	147,221	$	0.02
Net income available to common shareholders - basic	$	140,181	147,060	$	0.95	$	43,032	146,471	$	0.29
Dilutive shares for long-term compensation plans	—		813			—		750
Net income available to common shareholders - diluted	$	140,181	147,873	$	0.95	$	43,032	147,221	$	0.29

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 months ended March 31, 2018 as compared to 188,000 for the same period in 2017.

During the three months ended March 31, 2018, 89,000 common shares 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 months ended March 31, 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
	March 31, 2018						March 31, 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	$	49,305					$	41,285
Less: Preferred unit distributions	(118		)				(118		)
Income from continuing operations available to common unitholders - basic	$	49,187		150,580	$	0.33	$	41,167		150,000	$	0.27
Dilutive units for long-term compensation plans	—			813			—			750
Income from continuing operations available to common unitholders - diluted	$	49,187		151,393	$	0.33	$	41,167		150,750	$	0.27
Income from discontinued operations - basic	$	94,333		150,580	$	0.62	$	2,896		150,000	$	0.02
Dilutive units for long-term compensation plans	—			813			—			750
Income from discontinued operations - diluted	$	94,333		151,393	$	0.62	$	2,896		150,750	$	0.02
Income available to common unitholders - basic	$	143,520		150,580	$	0.95	$	44,063		150,000	$	0.29
Dilutive units for long-term compensation plans	—			813			—			750
Income available to common unitholders - diluted	$	143,520		151,393	$	0.95	$	44,063		150,750	$	0.29

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 months ended March 31, 2018 as compared to 188,000 for the same period in 2017.

During the three months ended March 31, 2018, 89,000 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 months ended March 31, 2018.