Preferred and Common Units of the Operating Partnership (Tables)

12 Months Ended

Dec. 31, 2014

Class of Stock [Line Items]

Schedule of Common Stock Sales Under the At-the-Market Offering

Under our at-the-market stock offering programs, which commenced in July 2011 and December 2014, we may offer and sell shares of our common stock from time to time in “at-the-market” offerings. During the year ended December 31, 2014, the Company completed it's existing at-the-market stock offering program (the “July 2011 At-The-Market Program”) under which we sold an aggregate of $200.0 million in gross sales of shares, and in December 2014 commenced a new at-the-market stock offering program (the “December 2014 At-The-Market Program”) under which we may offer to sell shares of our common stock with an aggregate gross sales price of up $300.0 million.

The following table sets forth information regarding sales of our common stock under our at-the-market offering programs for the years ended December 31, 2014, 2013 and 2012:

	Year Ended December 31,
	2014		2013		2012
	(in millions, except share data)
Shares of common stock sold during the period	1,599,123		1,040,838		787,118
Aggregate gross proceeds	$	104.7	$	55.3	$	37.0
Aggregate net proceeds after sales agent compensation	$	103.1	$	54.4	$	36.3

The proceeds from sales were used to fund acquisitions, development expenditures and general corporate purposes including repayment of borrowings under the unsecured revolving credit facility. During the year ended December 31, 2014, under the July 2011 At-The-Market Program, we sold 1,457,623 shares of common stock and completed the program. Since commencement of the December 2014 At-The-Market Program, as of December 31, 2014, we sold 141,500 shares of common stock and approximately $290.0 million remains available to be sold under this program. Actual future sales will depend upon a variety of factors, including, but not limited to, market conditions, the trading price of the Company’s common stock and our capital needs. We have no obligation to sell the remaining shares available for sale under the December 2014 At-The-Market program.

Redeemable Noncontrolling Interest [Table Text Block]

The following table sets forth the number of common units held by the Company and the number of common units held by non-affiliate investors and certain of our executive officers and directors in the form of noncontrolling common units as well as the ownership interest held on each respective date:

	December 31, 2014		December 31, 2013
Company owned common units in the Operating Partnership	86,259,684		82,153,944
Company owned general partnership interest	98.0	%	97.8	%
Noncontrolling common units of the Operating Partnership	1,804,200		1,805,200
Ownership interest of noncontrolling interest	2.0	%	2.2	%

For a further discussion of the noncontrolling common units during the years ended December 31, 2014 and 2013, refer to Note 9 “Noncontrolling Interests on the Company’s Consolidated Financial Statements”.

Schedule of Accrued Dividends and Distributions

The following tables summarize accrued dividends and distributions for the noted outstanding shares of common stock, preferred stock, and noncontrolling units as of December 31, 2014 and 2013:

	December 31,
	2014		2013
	(in thousands)
Dividends and Distributions payable to:
Common stockholders	$	30,191	$	28,754
Noncontrolling common unitholders of the Operating Partnership	631		632
RSU holders (1)	421		405
Total accrued dividends and distribution to common stockholders and noncontrolling unitholders	31,243		29,791
Preferred stockholders	1,656		1,699
Total accrued dividends and distributions	$	32,899	$	31,490

______________________

(1) The amount includes the value of the dividend equivalents that will be paid with additional fully-vested RSUs (see Note 12 “Share-Based Compensation” for additional information)

Schedule of Outstanding Shares of Common Stock, Preferred Stock and Noncontrolling Units

	December 31,
	2014	2013
Outstanding Shares and Units:
Common stock (1)	86,259,684	82,153,944
Noncontrolling common units	1,804,200	1,805,200
RSUs (2)	1,248,352	1,158,407
Series G Preferred stock	4,000,000	4,000,000
Series H Preferred stock	4,000,000	4,000,000

______________________

(1) The amount includes nonvested shares.

(2) The amount includes nonvested RSUs. Does not include the 247,089 and 143,022 market measure-based RSUs since not all the necessary performance conditions have been met as of December 31, 2014 and2013, respectively.

Kilroy Realty, L.P. [Member]

Class of Stock [Line Items]

Schedule of Common Stock Sales Under the At-the-Market Offering

During the years ended December 31, 2014, 2013 and 2012, the Company utilized its at-the-market stock offering programs to issue shares of common stock (see Note 10 “Stockholders’ Equity of the Company” for additional information). The net offering proceeds and property acquired using net offering proceeds were contributed by the Company to the Operating Partnership in exchange for common units for the years ended December 31, 2014, 2013 and 2012 are as follows:

	Year Ended December 31,
	2014		2013		2012
	(in millions, except share and per share data)
Shares of common stock contributed by the Company	1,599,123		1,040,838		787,118
Common units exchanged for share of common stock by the Company	1,599,123		1,040,838		787,118
Aggregate gross proceeds	$	104.7	$	55.3	$	37.0
Aggregate net proceeds after sales agent compensation	$	103.1	$	54.4	$	36.3

Schedule of Accrued Dividends and Distributions

The following tables summarize accrued distributions for the noted common and preferred units as of December 31, 2014 and 2013:

	December 31, 2014		December 31, 2013
	(in thousands)
Distributions payable to:
General partner	$	30,191	$	28,754
Common limited partners	631		632
RSU holders (1)	421		405
Total accrued distributions to common unitholders	31,243		29,791
Preferred unitholders	1,656		1,699
Total accrued distributions	$	32,899	$	31,490

______________________

(1) The amount includes the value of the dividend equivalents that will be paid with additional fully-vested RSUs (see Note 12 “Share-Based Compensation” for additional information).

Schedule of Outstanding Shares of Common Stock, Preferred Stock and Noncontrolling Units

	December 31, 2014	December 31, 2013
Outstanding Units:
Common units held by the general partner	86,259,684	82,153,944
Common units held by the limited partners	1,804,200	1,805,200
RSUs (1)	1,248,352	1,158,407
Series G Preferred units	4,000,000	4,000,000
Series H Preferred units	4,000,000	4,000,000

______________________

(1) Does not include the 247,089 and 143,022 market measure-based RSUs since not all the necessary performance conditions have been met as of December 31, 2014 and 2013, respectively.

2012 Redemption of 7.80% Series E and 7.50% Series F Cumulative Redeemable Preferred Units

On April 16, 2012, the Company redeemed all 1,610,000 outstanding units of its 7.80% Series E Cumulative Redeemable Preferred Units and all 3,450,000 outstanding units of its 7.50% Series F Cumulative Redeemable Preferred Units. As a result, for the year ended December 31, 2012, we recognized a non-recurring noncash charge of $4.9 million as a reduction to net income available to common stockholders for the original issuance costs related to the Redeemed Preferred Units.