Liberty Property Trust (LPT) 8-K Other Events

Exhibit 99.1

Liberty Property Trust

Statement of Operations

December 31, 2012

(Unaudited and in thousands, except per share amounts)

	Quarter Ended						Year ended
	December 31, 2012			December 31, 2011			December 31, 2012			December 31, 2011
Operating Revenue
Rental	$	121,709		$	118,171		$	478,835		$	464,053
Operating expense reimbursement	54,518			50,533			206,717			199,188
Total operating revenue	176,227			168,704			685,552			663,241
Operating Expenses
Rental property	37,704			34,105			133,630			125,761
Real estate taxes	18,407			18,336			79,859			76,982
General and administrative	18,286			16,547			64,730			59,367
Depreciation and amortization	42,923			39,994			165,628			156,242
Total operating expenses	117,320			108,982			443,847			418,352
Operating Income	58,907			59,722			241,705			244,889
Other Income/Expense
Interest and other	1,320			1,472			9,289			8,389
Interest	(29,738		)	(29,510		)	(119,630		)	(120,718		)
Total other income/expense	(28,418		)	(28,038		)	(110,341		)	(112,329		)
Income before property dispositions, income taxes, noncontrolling interest and equity in earnings of unconsolidated joint ventures	30,489			31,684			131,364			132,560
Gain on property dispositions	1,305			1,664			4,123			5,025
Income taxes	(331		)	(51		)	(976		)	(1,020		)
Equity in earnings (loss) of unconsolidated joint ventures	716			1,026			(681		)	3,496
Income from continuing operations	32,179			34,323			133,830			140,061
Discontinued operations (including net gains on property dispositions of $8,837 and $5,860 for the quarters ended December 31, 2012 and 2011 and net gains of $11,383 and $60,582 for the years ended December 31, 2012 and 2011)	8,392			6,922			13,921			70,649
Net Income	40,571			41,245			147,751			210,710
Noncontrolling interest - operating partnerships	(2,416		)	(6,453		)	(10,590		)	(27,222		)
Noncontrolling interest - consolidated joint ventures	275			—			275			511
Net Income available to common shareholders	$	38,430		$	34,792		$	137,436		$	183,999
Net income	$	40,571		$	41,245		$	147,751		$	210,710
Other comprehensive income (loss)	389			(217		)	3,436			(281		)
Comprehensive income	40,960			41,028			151,187			210,429
Less: comprehensive income attributable to noncontrolling interest	(2,153		)	(6,446		)	(10,422		)	(26,705		)
Comprehensive income attributable to common shareholders	$	38,807		$	34,582		$	140,765		$	183,724
Basic income per common share
Continuing operations	$	0.26		$	0.24		$	1.06		$	1.00
Discontinued operations	$	0.07		$	0.06		$	0.12		$	0.60
Total basic income per common share	$	0.33		$	0.30		$	1.18		$	1.60
Diluted income per common share
Continuing operations	$	0.25		$	0.24		$	1.06		$	1.00
Discontinued operations	$	0.07		$	0.06		$	0.11		$	0.59
Total diluted income per common share	$	0.32		$	0.30		$	1.17		$	1.59
Weighted average shares
Basic	117,556			115,373			116,863			114,755
Diluted	118,378			116,090			117,694			115,503
Amounts attributable to common shareholders
Income from continuing operations	$	30,293		$	28,090		$	123,945		$	115,653
Discontinued operations	8,137			6,702			13,491			68,346
Net income	$	38,430		$	34,792		$	137,436		$	183,999