Item 8.01. Other Events
Liberty Property Trust ("Liberty") is re-issuing in an updated format its
historical financial statements in connection with Statement of Financial
Accounting Standards No. 144, "Accounting for the Impairment or Disposal of
Long-Lived Assets," ("FAS 144"). During the six months ended June 30, 2009,
Liberty sold properties and in compliance with FAS 144 has reported revenue,
expenses and net gains from the sale of these properties as discontinued
operations for each period presented in its June 30, 2009 Quarterly Report on
Form 10-Q (including the comparable periods of the prior year). Under SEC
requirements, the same reclassification as discontinued operations required by
FAS 144 following the sale of a property is required for previously issued
annual financial statements for each of the three years shown in Liberty's last
annual report on Form 10-K, as amended, if those financials are incorporated by
reference in subsequent filings with the SEC made under the Securities Act of
1933, as amended, even though those financial statements relate to periods prior
to the date of the sale. This reclassification has no effect on Liberty's
reported net income available to common shareholders or funds from operations.
This Current Report on Form 8-K updates Items 6, 7, 8 and 15 of the Company's
Annual Report on Form 10-K, as amended, for the year ended December 31, 2008
(the "Form 10-K/A"), to reflect the results of operations of the Company's real
properties which have been sold prior to June 30, 2009 or are held for sale at
June 30, 2009, as discontinued operations. The updated financial information is
attached to this Current Report on Form 8-K as Exhibit 99.1. All other items of
the Company's Form 10-K/A remain unchanged. No attempt has been made to update
matters in the Form 10-K/A except to the extent expressly provided above.
Item 9.01. Financial Statements and Exhibits.
(a) Financial Statements of Businesses Acquired.
None.
(b) Pro Forma Financial Information.
None.
(c) Shell Company Transactions.
None.
(d) Exhibits.
Exhibit Number Exhibit Title
12.1 Statement re: Computation of Ratios
23.1 Consent of Independent Registered Public Accounting Firm
23.2 Consent of Independent Registered Public Accounting Firm
99 Updated financial information for the years ended
December 31, 2008, 2007, 2006.
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Index to Exhibit 99.1 Page Number
Selected Financial Data 1
Management's Discussion and Analysis of Financial Condition
and Results of Operations 3
Financial Statements and Supplementary Data 18
Financial Statement Schedule - Schedule III - Summary of Real
Estate Owned 48