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Consolidated Statements of Operations (KILROY REALTY, L.P.) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
REVENUES        
Rental income $ 158,925 $ 143,653 $ 315,573 $ 277,408
Tenant reimbursements 19,267 16,138 38,563 27,542
Other property income 2,406 342 5,770 629
Total revenues 180,598 160,133 359,906 305,579
EXPENSES        
Property expenses 33,304 29,221 64,545 55,186
Real estate taxes 16,543 13,845 34,507 24,877
Provision for bad debts 409 0 1,707 0
Ground leases 1,547 768 3,189 1,597
General and administrative expenses 14,303 13,979 29,236 27,416
Acquisition-related expenses (Note 1) 0 714 0 776
Depreciation and amortization 62,251 53,346 123,170 103,786
Total expenses 128,357 111,873 256,354 213,638
OTHER (EXPENSES) INCOME        
Interest income and other net investment gains (Note 11) 1,038 311 2,103 582
Interest expense (Note 5) (17,973) (14,384) (35,325) (26,213)
Total other (expenses) income (16,935) (14,073) (33,222) (25,631)
Net loss on sale of land 0 (295) 0 (295)
Gains on sales of depreciable operating properties (Note 2) 0 0 2,257 145,990
NET INCOME 35,306 33,892 72,587 212,005
Net income attributable to noncontrolling interests in consolidated property partnerships and subsidiaries (3,858) (1,045) (7,614) (4,850)
NET INCOME ATTRIBUTABLE TO KILROY REALTY CORPORATION (KILROY REALTY, L.P.) 31,448 32,847 64,973 207,155
Original issuance costs of redeemed preferred stock (preferred units) 0 0 (3,845) 0
Total preferred dividends (1,615) (3,312) (8,811) (6,625)
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS (UNITHOLDERS) $ 29,833 $ 29,535 $ 56,162 $ 200,530
Net income available to common unitholders per unit-basic (in dollars per unit) (Note 13) $ 0.30 $ 0.32 $ 0.56 $ 2.17
Net income available to common unitholders per unit-diluted (in dollars per unit) (Note 13) $ 0.30 $ 0.31 $ 0.56 $ 2.15
Weighted average common units outstanding - basic (in units) 98,275,471 92,209,955 97,834,255 92,217,238
Weighted average common units outstanding - diluted (in units) 98,827,378 92,824,786 98,427,345 92,784,065
Kilroy Realty, L.P. [Member]        
REVENUES        
Rental income $ 158,925 $ 143,653 $ 315,573 $ 277,408
Tenant reimbursements 19,267 16,138 38,563 27,542
Other property income 2,406 342 5,770 629
Total revenues 180,598 160,133 359,906 305,579
EXPENSES        
Property expenses 33,304 29,221 64,545 55,186
Real estate taxes 16,543 13,845 34,507 24,877
Provision for bad debts 409 0 1,707 0
Ground leases 1,547 768 3,189 1,597
General and administrative expenses 14,303 13,979 29,236 27,416
Acquisition-related expenses (Note 1) 0 714 0 776
Depreciation and amortization 62,251 53,346 123,170 103,786
Total expenses 128,357 111,873 256,354 213,638
OTHER (EXPENSES) INCOME        
Interest income and other net investment gains (Note 11) 1,038 311 2,103 582
Interest expense (Note 5) (17,973) (14,384) (35,325) (26,213)
Total other (expenses) income (16,935) (14,073) (33,222) (25,631)
INCOME FROM OPERATIONS BEFORE GAINS (LOSS) ON SALES OF REAL ESTATE 35,306 34,187 70,330 66,310
Net loss on sale of land 0 (295) 0 (295)
Gains on sales of depreciable operating properties (Note 2) 0 0 2,257 145,990
NET INCOME 35,306 33,892 72,587 212,005
Net income attributable to noncontrolling interests in consolidated property partnerships and subsidiaries (3,335) (302) (6,562) (582)
NET INCOME ATTRIBUTABLE TO KILROY REALTY CORPORATION (KILROY REALTY, L.P.) 31,971 33,590 66,025 211,423
Preferred distributions (1,615) (3,312) (4,966) (6,625)
Original issuance costs of redeemed preferred stock (preferred units) 0 0 (3,845) 0
Total preferred dividends (1,615) (3,312) (8,811) (6,625)
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS (UNITHOLDERS) $ 30,356 $ 30,278 $ 57,214 $ 204,798
Net income available to common unitholders per unit-basic (in dollars per unit) (Note 13) $ 0.30 $ 0.31 $ 0.56 $ 2.16
Net income available to common unitholders per unit-diluted (in dollars per unit) (Note 13) $ 0.30 $ 0.31 $ 0.56 $ 2.15
Weighted average common units outstanding - basic (in units) 100,352,664 94,841,231 100,024,000 94,514,876
Weighted average common units outstanding - diluted (in units) 100,904,571 95,456,062 100,617,090 95,081,703
Dividends declared per common unit (in dollars per unit) $ 0.425 $ 0.375 $ 0.8 $ 0.725000