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Consolidated Statements of Operations (KILROY REALTY, L.P.) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
REVENUES:        
Rental income $ 129,510 $ 115,221 $ 391,892 $ 338,911
Tenant reimbursements 11,681 11,346 40,280 33,399
Other property income 362 2,457 1,690 7,650
Total revenues 141,553 129,024 433,862 379,960
EXPENSES        
Property expenses 26,684 25,801 78,264 75,448
Real estate taxes 12,087 11,008 37,232 32,728
Provision for bad debts 0 58 289 58
Ground leases 862 771 2,451 2,306
General and administrative expenses 10,799 11,138 36,200 33,806
Acquisition-related expenses 4 431 397 1,268
Depreciation and amortization 49,422 50,032 152,567 148,647
Total expenses 99,858 99,239 307,400 294,261
OTHER (EXPENSES) INCOME:        
Interest income and other net investment gain (Note 12) (694) (9) 177 587
Interest expense (Note 6) (12,819) (16,608) (44,561) (49,880)
Total other (expenses) income (13,513) (16,617) (44,384) (49,293)
Gain on sale of land (Note 3) 0 0 17,268 3,490
Gain (Loss) on Disposition of Property Plant Equipment 78,522 0 109,950 0
INCOME FROM CONTINUING OPERATIONS 106,704 13,168 209,296 39,896
DISCONTINUED OPERATIONS (Note 1)        
Income from discontinued operations 0 548 0 2,091
Gains on dispositions of discontinued operations 0 5,587 0 110,391
Total income from discontinued operations [1] 0 6,135 0 112,482
NET INCOME 106,704 19,303 209,296 152,378
NET INCOME 104,759 18,982 205,446 149,367
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 101,446 $ 15,669 $ 195,508 $ 139,429
Income (loss) from continuing operations available to common unitholders per unit - basic (Note 14) $ 1.10 $ 0.11 $ 2.18 $ 0.34
Income (loss) from continuing operations available to common unitholders per unit - diluted (Note 15) 1.09 0.11 2.17 0.33
Net income available to common unitholders per unit-basic (Note 14) 1.10 0.18 2.18 1.67
Net income available to common unitholders per unit-diluted (Note 14) $ 1.09 $ 0.18 $ 2.17 $ 1.63
Weighted average common units outstanding - basic (Note 14) 92,150,341 83,161,323 89,077,012 82,525,033
Weighted average common units outstanding - diluted (Note 14) 92,639,065 85,110,456 89,593,261 84,622,622
Kilroy Realty, L.P. [Member]        
REVENUES:        
Rental income $ 129,510 $ 115,221 $ 391,892 $ 338,911
Tenant reimbursements 11,681 11,346 40,280 33,399
Other property income 362 2,457 1,690 7,650
Total revenues 141,553 129,024 433,862 379,960
EXPENSES        
Property expenses 26,684 25,801 78,264 75,448
Real estate taxes 12,087 11,008 37,232 32,728
Provision for bad debts 0 58 289 58
Ground leases 862 771 2,451 2,306
General and administrative expenses 10,799 11,138 36,200 33,806
Acquisition-related expenses 4 431 397 1,268
Depreciation and amortization 49,422 50,032 152,567 148,647
Total expenses 99,858 99,239 307,400 294,261
OTHER (EXPENSES) INCOME:        
Interest income and other net investment gain (Note 12) (694) (9) 177 587
Interest expense (Note 6) (12,819) (16,608) (44,561) (49,880)
Total other (expenses) income (13,513) (16,617) (44,384) (49,293)
INCOME FROM CONTINUING OPERATIONS BEFORE GAINS ON SALES OF REAL ESTATE 28,182 13,168 82,078 36,406
Gain on sale of land (Note 3) 0 0 17,268 3,490
Gain (Loss) on Disposition of Property Plant Equipment 78,522 0 109,950 0
INCOME FROM CONTINUING OPERATIONS 106,704 13,168 209,296 39,896
DISCONTINUED OPERATIONS (Note 1)        
Income from discontinued operations 0 548 0 2,091
Gains on dispositions of discontinued operations 0 5,587 0 110,391
Total income from discontinued operations 0 [2] 6,135 [2] 0 112,482 [2]
NET INCOME 106,704 19,303 209,296 152,378
Net income attributable to noncontrolling interests in consolidated subsidiaries (64) (59) (211) (201)
NET INCOME 106,640 19,244 209,085 152,177
Preferred Distributions (3,313) (3,313) (9,938) (9,938)
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 103,327 $ 15,931 $ 199,147 $ 142,239
Income (loss) from continuing operations available to common unitholders per unit - basic (Note 14) $ 1.10 $ 0.11 $ 2.18 $ 0.34
Income (loss) from continuing operations available to common unitholders per unit - diluted (Note 15) 1.09 0.11 2.17 0.33
Net income available to common unitholders per unit-basic (Note 14) 1.10 0.18 2.18 1.67
Net income available to common unitholders per unit-diluted (Note 14) $ 1.09 $ 0.18 $ 2.17 $ 1.63
Weighted average common units outstanding - basic (Note 14) 93,938,783 84,965,523 90,869,696 84,329,317
Weighted average common units outstanding - diluted (Note 14) 94,427,507 86,914,656 91,385,945 86,426,906
Dividends declared per common unit $ 0.35 $ 0.35 $ 1.05 $ 1.05
[1] 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.
[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.