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Net Income Available to Common Unitholders Per Unit of the Operating Partnership
 6 Months Ended
Jun. 30, 2017
Earnings Per Unit [Abstract]  
Net Income Available to Common Unitholders Per Unit of the Operating Partnership
Net Income Available to Common Unitholders Per Unit of the Operating Partnership

The following table reconciles the numerator and denominator in computing the Operating Partnership’s basic and diluted per-unit computations for net income available to common unitholders for the three and six months ended June 30, 2017 and 2016:

 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2017
 
2016
 
2017
 
2016
 
(in thousands, except unit and per unit amounts)
Numerator:
 
 
 
 
 
 
 
Net income attributable to Kilroy Realty, L.P.

$
31,971

 
$
33,590

 
$
66,025

 
$
211,423

Total preferred distributions
(1,615
)
 
(3,312
)
 
(8,811
)
 
(6,625
)
Allocation to participating securities (1)
(511
)
 
(423
)
 
(959
)
 
(818
)
Numerator for basic and diluted net income available to common unitholders
$
29,845

 
$
29,855

 
$
56,255

 
$
203,980

Denominator:
 
 
 
 
 
 
 
Basic weighted average vested units outstanding
100,352,664

 
94,841,231

 
100,024,000

 
94,514,876

Effect of dilutive securities
551,907

 
614,831

 
593,090

 
566,827

Diluted weighted average vested units and common unit equivalents outstanding
100,904,571

 
95,456,062

 
100,617,090

 
95,081,703

Basic earnings per unit:
 
 
 
 
 
 
 
Net income available to common unitholders per unit
$
0.30

 
$
0.31

 
$
0.56

 
$
2.16

Diluted earnings per unit:
 
 
 
 
 
 
 
Net income available to common unitholders per unit
$
0.30

 
$
0.31

 
$
0.56

 
$
2.15


________________________ 
(1)
Participating securities include nonvested shares, certain time-based RSUs and vested market measure-based RSUs.

Share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are considered participating securities. The impact of potentially dilutive common units, including stock options, RSUs and other securities are considered in our diluted earnings per share calculation for the three and six months ended June 30, 2017 and 2016. Certain market measure-based RSUs are not included in dilutive securities for the three and six months ended June 30, 2017 and 2016, as not all performance metrics had been met by the end of the applicable reporting periods.

See Note 9 “Share-Based Compensation” for additional information regarding share-based compensation.