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Consolidated Statements of Operations (Unaudited) - 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)
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 common units of the Operating Partnership (Note 6) (616) (829) (1,239) (4,439)
Net income attributable to noncontrolling interests in consolidated property partnerships (3,242) (216) (6,375) (411)
Total income attributable to noncontrolling interests (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
Preferred dividends (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) $ 29,833 $ 29,535 $ 56,162 $ 200,530
Net income available to common stockholders per share – basic (in dollars per share) (Note 12) $ 0.30 $ 0.32 $ 0.56 $ 2.17
Net income available to common stockholders per share – diluted (in dollars per share) (Note 12) $ 0.30 $ 0.31 $ 0.56 $ 2.15
Weighted average common shares outstanding – basic (in shares) 98,275,471 92,209,955 97,834,255 92,217,238
Weighted average common shares outstanding – diluted (in shares) 98,827,378 92,824,786 98,427,345 92,784,065
Dividends declared per common share (in dollars per share) $ 0.425 $ 0.375000 $ 0.8 $ 0.725