XML 42 R27.htm IDEA: XBRL DOCUMENT v3.10.0.1
Net Income Available to Common Unitholders Per Unit of the Operating Partnership
 9 Months Ended
Sep. 30, 2018
Net Income Available To Common Unitholders [Line Items]  
Net Income Available to Common Unitholders Per Unit of the Operating Partnership
Net Income Available to Common Stockholders Per Share of the Company

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 and nine months ended September 30, 2018 and 2017:

 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2018
 
2017
 
2018
 
2017
 
(in thousands, except share and per share amounts)
Numerator:
 
 
 
 
 
 
 
Net income attributable to Kilroy Realty Corporation
$
34,400

 
$
71,110

 
$
98,195

 
$
136,083

Total preferred dividends
—

 
(4,552
)
 
—

 
(13,363
)
Allocation to participating securities (1)
(507
)
 
(501
)
 
(1,492
)
 
(1,460
)
Numerator for basic and diluted net income available to common stockholders
$
33,893

 
$
66,057

 
$
96,703

 
$
121,260

Denominator:
 
 
 
 
 
 
 
Basic weighted average vested shares outstanding
100,676,778

 
98,352,139

 
99,711,312

 
98,008,780

Effect of dilutive securities
551,556

 
559,473

 
497,333

 
582,268

Diluted weighted average vested shares and common share equivalents outstanding
101,228,334

 
98,911,612

 
100,208,645

 
98,591,048

Basic earnings per share:
 
 
 
 
 
 
 
Net income available to common stockholders per share
$
0.34

 
$
0.67

 
$
0.97

 
$
1.24

Diluted earnings per share:
 
 
 
 
 
 
 
Net income available to common stockholders per share
$
0.33

 
$
0.67

 
$
0.97

 
$
1.23


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

Share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are considered participating securities. The impact of potentially dilutive common shares, including stock options, RSUs, shares issuable under forward equity sale agreements and other securities are considered in our diluted earnings per share calculation for the three and nine months ended September 30, 2018 and 2017. Certain market measure-based RSUs are not included in dilutive securities for the three and nine months ended September 30, 2018 and 2017, as not all performance metrics had been met by the end of the applicable reporting periods.

See Note 9 “Share-Based Compensation” for additional information regarding share-based compensation.
Kilroy Realty L.P. [Member]  
Net Income Available To Common Unitholders [Line Items]  
Net Income Available to Common Unitholders Per Unit of the Operating Partnership
Net Income Available to Common Unitholders Per Unit of the Operating Partnership

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 and nine months ended September 30, 2018 and 2017:

 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2018
 
2017
 
2018
 
2017
 
(in thousands, except unit and per unit amounts)
Numerator:
 
 
 
 
 
 
 
Net income attributable to Kilroy Realty, L.P.
$
34,993

 
$
72,402

 
$
99,901

 
$
138,427

Total preferred distributions
—

 
(4,552
)
 
—

 
(13,363
)
Allocation to participating securities (1)
(507
)
 
(501
)
 
(1,492
)
 
(1,460
)
Numerator for basic and diluted net income available to common unitholders
$
34,486

 
$
67,349

 
$
98,409

 
$
123,604

Denominator:
 
 
 
 
 
 
 
Basic weighted average vested units outstanding
102,721,806

 
100,429,332

 
101,773,540

 
100,160,595

Effect of dilutive securities
551,556

 
559,473

 
497,333

 
582,268

Diluted weighted average vested units and common unit equivalents outstanding
103,273,362

 
100,988,805

 
102,270,873

 
100,742,863

Basic earnings per unit:
 
 
 
 
 
 
 
Net income available to common unitholders per unit
$
0.34

 
$
0.67

 
$
0.97

 
$
1.23

Diluted earnings per unit:
 
 
 
 
 
 
 
Net income available to common unitholders per unit
$
0.33

 
$
0.67

 
$
0.96

 
$
1.23


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

Share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are considered participating securities. The impact of potentially dilutive common units, including stock options, RSUs, shares issuable under forward equity sale agreements and other securities are considered in our diluted earnings per share calculation for the three and nine months ended September 30, 2018 and 2017. Certain market measure-based RSUs are not included in dilutive securities for the three and nine months ended September 30, 2018 and 2017, as not all performance metrics had been met by the end of the applicable reporting periods.

See Note 9 “Share-Based Compensation” for additional information regarding share-based compensation.