KILROY REALTY CORPORATION KRC Income Statement

Kilroy realty corporation (KRC)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
REVENUES
Rental income (Note 8)
218,633	-	-	-	199,382	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other property income
2,695	-	-	-	1,820	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total revenues
221,328	220,235	215,525	200,492	201,202	190,842	186,562	187,072	182,822	177,561	181,534	180,598	179,308	168,645	168,348	160,133	145,446	147,413	141,553	146,227	146,082	141,765	129,024	127,178	123,758	114,767	113,545	117,835	110,964	84,825	98,985	97,111	92,397	51,862	86,399	88,390	83,773	36,483	79,276	72,416	66,819	68,494	71,050
EXPENSES
Property expenses
38,983	-	-	-	38,149	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Real estate taxes
22,202	21,534	19,998	17,926	18,639	18,399	17,462	17,813	17,146	15,571	16,371	16,543	17,964	15,828	14,501	13,845	11,032	12,991	12,087	12,430	12,715	12,469	11,008	10,731	10,989	9,917	10,088	9,748	9,664	6,991	8,746	8,160	7,665	3,612	7,352	8,127	7,890	3,374	7,582	6,482	6,036	5,988	6,143
Provision for bad debts (Notes 2 and 20)
-	-	0	0	-	-973	1,338	5,600	-265	526	1,036	409	1,298	0	0	0	0	256	0	47	242	0	58	0	0	200	101	0	95	151	0	0	2	405	144	120	26	908	-857	-12	26	243	-1,272
Ground leases (Note 9)
2,317	1,978	2,049	2,114	1,972	1,450	1,579	1,586	1,561	1,586	1,562	1,547	1,642	933	909	768	829	645	862	813	776	769	771	773	762	839	929	889	847	887	859	615	807	299	503	424	339	336	336	370	-58	398	432
General and administrative expenses
19,010	22,365	22,576	19,857	23,341	33,872	19,277	21,763	15,559	16,831	14,514	14,303	14,933	16,080	13,533	13,979	13,437	12,065	10,799	12,633	12,768	12,346	11,138	11,857	10,811	9,910	10,226	9,855	9,669	9,443	8,727	9,251	8,767	7,793	6,355	7,440	6,560	6,867	7,273	6,728	7,095	7,662	7,308
Leasing costs
1,456	2,016	1,192	2,650	1,757	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Business Combination, Acquisition Related Costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	188	714	62	100	4	265	128	211	431	609	228	575	568	164	655	1,040	556	1,813	1,528	1,224	1,163	1,194	472	624	354	957	313	-	-
Depreciation and amortization
74,370	69,513	69,230	68,252	66,135	64,860	62,700	64,006	62,715	60,149	62,567	62,251	60,919	56,782	56,666	53,346	50,440	51,727	49,422	51,658	51,487	53,770	50,032	50,079	48,536	48,855	45,804	46,527	47,701	36,080	41,724	38,065	34,652	22,536	33,275	31,378	28,441	16,225	29,951	23,722	20,938	21,968	23,470
Total expenses
158,338	159,450	156,353	149,335	149,993	151,938	137,519	143,376	128,387	127,019	129,120	128,357	127,997	119,257	115,847	111,873	101,765	104,898	99,858	104,712	102,830	104,631	99,239	99,213	95,809	93,336	92,186	90,983	91,436	71,536	81,628	77,810	69,553	46,594	66,924	66,039	61,237	37,138	60,441	52,790	46,370	48,958	48,663
OTHER (EXPENSES) INCOME
Interest income and other net investment (loss) gain (Note 10)
-3,128	1,436	761	616	1,828	-1,706	342	771	34	1,874	1,526	1,038	1,065	644	538	311	271	66	-694	511	360	-26	-9	419	177	551	673	19	392	144	330	-110	484	299	30	58	184	261	337	-18	384	501	503
Interest expense (Note 3)
14,444	13,932	11,635	11,727	11,243	12,436	11,075	12,712	13,498	14,564	16,151	17,973	17,352	14,614	14,976	14,384	11,829	13,121	12,819	14,864	16,878	17,691	16,608	16,020	17,252	17,849	18,853	19,434	19,734	18,942	19,854	19,155	21,163	20,785	22,896	21,228	20,876	14,185	15,853	13,088	11,956	10,926	11,897
Gain (Loss) on Extinguishment of Debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-4,564	-	3,119	-
INCOME FROM OPERATIONS BEFORE GAINS ON SALES OF REAL ESTATE
-	-	-	-	-	-	-	-	-	-	37,789	35,306	35,024	-	38,063	34,187	32,123	29,460	28,182	27,162	26,734	19,417	13,168	12,364	10,874	-	3,179	7,437	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gains (Losses) on Sales of Investment Real Estate
-	-	-	-	-	-	-	-	-	-	449	-	-	-	0	-295	-	-152	0	0	17,268	-	0	3,490	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) on Disposition of Property Plant Equipment
-	-	0	7,169	-	-	0	0	-	-7	37,250	0	2,257	0	18,312	0	145,990	0	78,522	31,428	0	0	0	0	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total other (expenses) income
-17,572	17,137	-10,874	-3,942	-9,415	127,986	-10,733	-11,941	-13,464	21,954	-14,625	-16,935	-16,287	150,037	-14,438	-14,073	-11,558	-13,055	-13,513	-14,353	-16,518	-17,717	-16,617	-15,601	-17,075	-17,298	-18,180	-19,415	-19,342	-18,798	-19,524	-19,265	-20,679	-20,486	-22,866	-21,170	-20,692	-13,924	-15,516	-17,670	-11,572	-7,306	-11,394
INCOME FROM CONTINUING OPERATIONS
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	19,417	13,168	15,854	10,874	4,133	3,179	7,437	186	-5,509	-2,167	36	2,165	-15,218	-3,391	1,181	1,844	-	3,319	-	-	12,230	10,993
Income from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	482	548	600	943	7,085	5,848	2,243	2,202	12,704	4,689	2,241	3,697	21,046	5,126	2,291	3,023	-	350	-	-	-	-135
Net gain on dispositions of discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11,531	5,587	14,689	90,115	11,829	0	423	0	186,436	0	0	72,809	39,032	12,555	0	0	-	0	-	-	-	2,485
Total income from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12,013	6,135	15,289	91,058	18,914	5,848	2,666	2,202	199,140	4,689	2,241	76,506	60,078	17,681	2,291	3,023	-	350	-	-	-	2,350
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
45,418	77,922	48,298	47,215	41,794	166,890	38,310	31,755	40,971	32,540	75,488	35,306	37,281	35,418	56,375	33,892	178,113	29,308	106,704	58,590	44,002	31,430	19,303	31,143	101,932	23,047	9,027	10,103	2,388	193,631	2,522	2,277	78,671	44,860	14,290	3,472	4,867	5,384	3,669	1,956	8,877	12,230	13,343
Net income attributable to noncontrolling common units of the Operating Partnership
705	-	-	-	700	-	-	-	-	-	1,394	616	623	-	1,453	829	3,610	489	1,945	1,090	815	578	321	603	2,087	419	131	157	-22	-	-67	-	-	-	-	-	-	-	-	-	-	-	-
Net income attributable to noncontrolling interests in consolidated property partnerships
4,896	-	-	-	4,191	-	-	-	-	-	2,984	3,242	3,133	-	1,027	216	195	184	0	0	0	-	-	-	-	-	-	-	-	-	-	-20	1,795	-	296	-10	34	50	-4	-60	192	320	427
Total income attributable to noncontrolling interests
5,601	5,422	4,452	5,021	4,891	6,670	3,910	4,206	4,725	4,011	4,378	3,858	3,756	2,680	2,480	1,045	3,805	673	1,945	1,090	815	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
NET INCOME ATTRIBUTABLE TO KILROY REALTY CORPORATION / KILROY REALTY, L.P.
-	-	-	-	-	-	-	-	-	28,529	71,110	31,448	33,525	32,738	53,895	32,847	174,308	28,635	104,759	57,500	43,187	30,852	18,982	30,540	99,845	22,628	8,896	9,946	2,410	189,152	2,589	2,297	76,876	43,706	13,994	3,482	4,833	5,334	3,673	2,016	8,685	11,910	12,916
Distributions to noncontrolling cumulative redeemable preferred units of the Operating Partnership (Note 9)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	747	1,397	1,397	1,397	1,397	1,397	1,397	1,397	1,397	1,397	1,397	-1,397	1,397
Redeemable Preferred Stock Dividends
-	-	-	-	-	-	-	-	-	0	808	1,615	3,351	3,312	3,313	3,312	3,313	3,312	3,313	3,312	3,313	3,312	3,313	3,312	3,313	3,312	3,312	3,313	3,313	3,313	2,533	1,700	3,021	2,402	2,402	2,402	2,402	2,402	2,402	2,402	2,402	-2,402	2,402
Preferred Stock Redemption Premium
-	-	-	-	-	-	-	-	-	0	3,744	0	3,845	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	0	2,062	0	4,918	0	0	0	0	-	-	-	-	-	-
Preferred Stock Dividends and Other Adjustments
-	-	-	-	-	-	-	-	-	0	4,552	1,615	7,196	3,312	3,313	3,312	3,313	-	-	-	-	-	-	-	-	-	-	-	-	3,313	5,342	3,097	9,336	3,799	3,799	3,799	3,799	3,799	3,799	3,799	3,799	-3,799	3,799
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS (UNITHOLDERS)
39,817	72,500	43,846	42,194	36,903	160,220	34,400	27,549	36,246	28,529	66,558	29,833	26,329	29,426	50,582	29,535	170,995	25,323	101,446	54,188	39,874	27,540	15,669	27,228	96,532	19,316	5,584	6,633	-903	185,839	-2,753	-800	67,540	39,907	10,195	-317	1,034	1,535	-126	-1,783	4,886	8,111	9,117
Income (loss) from continuing operations available to common stockholders per share (dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.19	0.11	0.14	0.08	0.00	0.00	0.05	-0.05	-0.13	-0.10	-0.05	-0.12	-0.34	-0.12	-0.05	-0.04	-	-0.01	-	-	0.17	0.19
Income (loss) from continuing operations available to common stockholders per share (dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.18	0.11	0.14	0.08	0.00	0.00	0.05	-0.05	-0.13	-0.10	-0.05	-0.12	-0.34	-0.12	-0.05	-0.04	-	-0.01	-	-	0.17	0.19
Earnings Per Share, Basic
0.37	0.69	0.41	0.41	0.36	1.59	0.34	0.27	0.36	0.28	0.67	0.30	0.27	0.29	0.54	0.32	1.85	0.28	1.10	0.61	0.45	0.31	0.18	0.33	1.17	0.24	0.07	0.08	-0.02	2.56	-0.04	-0.02	1.06	0.70	0.17	-0.01	0.01	0.01	-0.01	-0.04	0.11	0.17	0.25
Earnings Per Share, Diluted
0.37	0.68	0.41	0.41	0.36	1.59	0.33	0.27	0.36	0.28	0.67	0.30	0.26	0.28	0.54	0.31	1.84	0.27	1.09	0.61	0.45	0.31	0.18	0.32	1.14	0.24	0.07	0.08	-0.02	2.56	-0.04	-0.02	1.06	0.70	0.17	-0.01	0.01	0.01	-0.01	-0.04	0.11	0.17	0.25
Weighted Average Number of Shares Outstanding, Basic
106,875	106,087	104,841	100,972	100,901	100,776	100,676	99,691	98,744	98,438	98,352	98,275	97,388	92,708	92,227	92,209	92,224	92,243	92,150	88,126	86,896	84,797	83,161	82,277	82,124	82,142	76,768	75,486	74,977	74,675	71,889	68,344	63,648	58,525	58,355	57,685	52,302	52,406	52,274	50,296	43,012	42,934	35,964
Weighted Average Number of Shares Outstanding, Diluted
107,389	106,784	105,359	101,809	101,443	101,336	101,228	100,150	99,213	99,152	98,911	98,827	98,018	93,612	92,920	92,824	92,734	92,863	92,639	88,645	87,434	86,018	85,110	84,602	84,140	80,175	76,768	77,453	74,977	74,675	71,889	68,344	63,648	58,525	58,355	57,685	52,302	52,404	52,274	50,296	43,014	42,935	35,964
Dividends declared per common share (in dollars per share)
-	-	-	-	-	-	-	-	-	-	0.42	0.42	0.37	-	0.37	0.37	0.35	-	0.35	0.35	0.35	-	0.35	0.35	0.35	-	0.35	0.35	0.35	-	0.35	0.35	0.35	0.35	0.35	0.35	0.35	0.35	0.35	0.35	0.35	0.35	0.35
Kilroy Realty L.P. [Member]
Rental income (Note 8)
218,633	-	-	-	199,382	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other property income
2,695	-	-	-	1,820	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total revenues
221,328	220,235	215,525	200,492	201,202	190,842	186,562	187,072	182,822	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property expenses
38,983	-	-	-	38,149	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Real estate taxes
22,202	21,534	19,998	17,926	18,639	18,399	17,462	17,813	17,146	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for bad debts (Notes 2 and 20)
-	-	0	0	-	-1,029	1,338	5,641	-265	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Ground leases (Note 9)
2,317	1,978	2,049	2,114	1,972	1,450	1,579	1,586	1,561	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
General and administrative expenses
19,010	22,365	22,576	19,857	23,341	33,872	19,277	21,763	15,559	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Leasing costs
1,456	2,016	1,192	2,650	1,757	-	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
74,370	69,513	69,230	68,252	66,135	64,860	62,700	64,006	62,715	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total expenses
158,338	159,450	156,353	149,335	149,993	151,938	137,519	143,376	128,387	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest income and other net investment (loss) gain (Note 10)
-3,128	1,436	761	616	1,828	-1,706	342	771	34	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expense (Note 3)
14,444	13,932	11,635	11,727	11,243	12,436	11,075	12,712	13,498	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) on Disposition of Property Plant Equipment
-	-	0	7,169	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total other (expenses) income
-17,572	17,137	-10,874	-3,942	-9,415	127,986	-10,733	-11,941	-13,464	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
45,418	77,922	48,298	47,215	41,794	166,890	38,310	31,755	40,971	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total income attributable to noncontrolling interests
5,029	4,182	3,709	4,314	4,286	3,581	3,317	3,740	4,078	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS (UNITHOLDERS)
40,389	73,740	44,589	42,901	37,508	163,309	34,993	28,015	36,893	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings Per Share, Basic
0.37	0.69	0.41	0.41	0.36	1.59	0.34	0.27	0.36	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings Per Share, Diluted
0.36	0.68	0.41	0.41	0.36	1.59	0.33	0.27	0.36	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Weighted Average Number of Shares Outstanding, Basic
108,897	108,110	106,864	102,995	102,925	102,801	102,721	101,762	100,815	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Weighted Average Number of Shares Outstanding, Diluted
109,411	108,807	107,383	103,832	103,466	103,361	103,273	102,221	101,284	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Rental income [Member]
Revenues
-	-	212,321	197,629	-	166,957	162,288	164,515	162,871	158,369	159,954	158,925	156,648	150,466	146,539	143,653	133,755	133,463	129,510	131,450	130,932	127,417	115,221	113,592	110,098	104,553	103,354	102,385	101,607	78,513	90,828	88,474	84,349	50,250	79,673	80,158	76,997	37,475	72,135	65,038	60,656	61,297	62,598
Tenant reimbursements [Member]
Revenues
-	-	0	0	-	20,511	21,754	19,567	19,150	18,331	19,665	19,267	19,296	17,131	16,406	16,138	11,404	13,494	11,681	14,174	14,425	13,318	11,346	10,534	11,519	9,617	9,583	9,717	9,130	6,363	8,022	8,102	7,180	1,418	6,387	7,130	6,022	-361	6,156	6,483	5,718	6,843	7,403
Other property income [Member]
Revenues
-	-	3,204	2,863	-	3,374	2,520	2,990	801	861	1,915	2,406	3,364	1,048	5,403	342	287	456	362	603	725	1,030	2,457	3,052	2,141	597	608	5,733	227	-51	135	535	868	194	339	1,102	754	-631	985	895	445	354	1,049
Property [Member]
Property expenses (Note 2)
-	-	41,308	38,536	-	34,386	35,163	32,567	31,671	32,356	33,070	33,304	31,241	28,696	30,050	29,221	25,965	27,114	26,684	26,866	24,714	25,066	25,801	25,164	24,483	23,040	24,470	23,800	22,805	16,944	21,016	19,906	16,132	10,725	18,132	17,356	17,509	8,804	15,802	14,543	12,020	12,699	12,582