Net Income Available to Common Unitholders Per Unit of the Operating Partnership (Tables)

3 Months Ended

Mar. 31, 2015

Net Income Available To Common Unitholders [Line Items]

Net income (loss) available to common unitholders

The following table reconciles the numerator and denominator in computing the Company’s basic and diluted per-share computations for net income available to common stockholders for the three months ended March 31, 2015 and 2014:



	Three Months Ended March 31,
	2015			2014
	(in thousands, except share and per share amounts)
Numerator:
Income from continuing operations	$	44,002		$	10,874
Income from continuing operations attributable to noncontrolling common units of the Operating Partnership	(815		)	(160		)
Preferred dividends	(3,313		)	(3,313		)
Allocation to participating securities ⁽¹⁾	(415		)	(427		)
Numerator for basic and diluted income from continuing operations available to common stockholders	39,459			6,974
Income from discontinued operations ⁽²⁾	—			91,058
Income from discontinued operations attributable to noncontrolling common units of the Operating Partnership ⁽²⁾	—			(1,927		)
Numerator for basic and diluted net income available to common stockholders	$	39,459		$	96,105
Denominator:
Basic weighted average vested shares outstanding	86,896,776			82,124,538
Effect of dilutive securities	537,590			2,015,532
Diluted weighted average vested shares and common share equivalents outstanding	87,434,366			84,140,070
Basic earnings per share:
Income from continuing operations available to common stockholders per share	$	0.45		$	0.08
Income from discontinued operations per common share ⁽²⁾	0.00			1.09
Net income available to common stockholders per share	$	0.45		$	1.17
Diluted earnings per share:
Income from continuing operations available to common stockholders per share	$	0.45		$	0.08
Income from discontinued operations per common share ⁽²⁾	0.00			1.06
Net income available to common stockholders per share	$	0.45		$	1.14

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


(2)	The Company adopted ASU 2014-08 effective January 1, 2015 (see Note 1). As a result, properties classified as held for sale and/or disposed of subsequent to January 1, 2015 that do not represent a strategic shift are no longer presented as discontinued operations.

Kilroy Realty, L.P. [Member]

Net Income Available To Common Unitholders [Line Items]

Net income (loss) available to common unitholders

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 months ended March 31, 2015 and 2014:



	Three Months Ended March 31,
	2015			2014
	(in thousands, except unit and per unit amounts)
Numerator:
Income from continuing operations	$	44,002		$	10,874
Income from continuing operations attributable to noncontrolling interests in consolidated subsidiaries	(75		)	(65		)
Preferred distributions	(3,313		)	(3,313		)
Allocation to participating securities ⁽¹⁾	(415		)	(427		)
Numerator for basic and diluted income from continuing operations available to common unitholders	40,199			7,069
Income from discontinued operations ⁽²⁾	—			91,058
Numerator for basic and diluted net income available to common unitholders	$	40,199		$	98,127
Denominator:
Basic weighted average vested units outstanding	88,693,306			83,928,993
Effect of dilutive securities	537,590			2,015,532
Diluted weighted average vested units and common unit equivalents outstanding	89,230,896			85,944,525
Basic earnings per unit:
Income from continuing operations available to common unitholders per unit	$	0.45		$	0.08
Income from discontinued operations per common unit ⁽²⁾	0.00			1.09
Net income available to common unitholders per unit	$	0.45		$	1.17
Diluted earnings per unit:
Income from continuing operations available to common unitholders per unit	$	0.45		$	0.08
Income from discontinued operations per common unit ⁽²⁾	0.00			1.06
Net income available to common unitholders per unit	$	0.45		$	1.14

________________________


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