KILROY REALTY CORP
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KRC FY 2025 request
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Income Statement
| Metric | FY 2025 | FY 2024 | YoY |
|---|---|---|---|
| Operating Lease Lease Income | 1,093,587 | 1,118,115 | -2.2% |
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| Office and Life Science Properties Segment | 1,093,587 | 1,118,115 | -2.2% |
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| Kilroy Realty L.P. | 1,093,587 | 1,118,115 | -2.2% |
| Revenue | 19,080 | 17,514 | +8.9% |
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| Office and Life Science Properties Segment | 19,080 | 17,514 | +8.9% |
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| Kilroy Realty L.P. | 19,080 | 17,514 | +8.9% |
| Revenue | 1,112,667 | 1,135,629 | -2.0% |
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| Office and Life Science Properties Segment | 1,112,667 | 1,135,629 | -2.0% |
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| Kilroy Realty L.P. | 1,112,667 | 1,135,629 | -2.0% |
| Other Cost And Expense Operating | 243,726 | 243,441 | +0.1% |
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| Office and Life Science Properties Segment | 243,726 | 243,441 | +0.1% |
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| Kilroy Realty L.P. | 243,726 | 243,441 | +0.1% |
| Real Estate Tax Expense | 107,564 | 108,951 | -1.3% |
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| Office and Life Science Properties Segment | 107,564 | 108,951 | -1.3% |
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| Kilroy Realty L.P. | 107,564 | 108,951 | -1.3% |
| Operating Lease Expense | 12,048 | 11,715 | +2.8% |
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| Office and Life Science Properties Segment | 12,048 | 11,715 | +2.8% |
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| Kilroy Realty L.P. | 12,048 | 11,715 | +2.8% |
| General & Administrative | 73,108 | 71,074 | +2.9% |
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| Office and Life Science Properties Segment | 73,108 | 71,074 | +2.9% |
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| Kilroy Realty L.P. | 73,108 | 71,074 | +2.9% |
| Operating Lease Cost | 10,352 | 8,764 | +18.1% |
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| Office and Life Science Properties Segment | 10,352 | 8,764 | +18.1% |
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| Kilroy Realty L.P. | 10,352 | 8,764 | +18.1% |
| Depreciation And Amortization | 354,854 | 356,182 | -0.4% |
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| Office and Life Science Properties Segment | 354,854 | 356,182 | -0.4% |
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| Kilroy Realty L.P. | 354,854 | 356,182 | -0.4% |
| Operating Expenses | 801,652 | 800,127 | +0.2% |
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| Office and Life Science Properties Segment | 801,652 | 800,127 | +0.2% |
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| Kilroy Realty L.P. | 801,652 | 800,127 | +0.2% |
| Interest Income And Other Net Investment Gain Loss | 6,970 | 37,752 | -81.5% |
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| Office and Life Science Properties Segment | 6,970 | 37,752 | -81.5% |
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| Kilroy Realty L.P. | 6,970 | 37,752 | -81.5% |
| Interest Expense | -126,292 | -145,287 | +13.1% |
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| Office and Life Science Properties Segment | -126,292 | -145,287 | +13.1% |
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| Kilroy Realty L.P. | -126,292 | -145,287 | +13.1% |
| Other Non-Operating Income (Expense) | 168 | -992 | +116.9% |
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| Office and Life Science Properties Segment | 168 | -992 | +116.9% |
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| Kilroy Realty L.P. | 168 | -992 | +116.9% |
| Gain Loss On Sale Of Property Plant Equipment | 127,038 | — | — |
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| Office and Life Science Properties Segment | 127,038 | — | — |
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| Kilroy Realty L.P. | 127,038 | — | — |
| Impairment Of Real Estate From Continuing Operations | -16,259 | — | — |
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| Kilroy Realty L.P. | -16,259 | — | — |
| Non-Operating Income (Expense) | -8,375 | -102,548 | +91.8% |
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| Office and Life Science Properties Segment | -8,375 | -102,548 | +91.8% |
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| Kilroy Realty L.P. | -8,375 | -102,548 | +91.8% |
| Net Income | 302,640 | 232,954 | +29.9% |
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| Office and Life Science Properties Segment | 302,640 | 232,954 | +29.9% |
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| Accumulated Distributions In Excess Of Net Income | 276,121 | 210,969 | +30.9% |
| Noncontrolling Interest | 26,519 | 21,985 | +20.6% |
| Noncontrolling Interest · Kilroy Realty L.P. | 23,837 | 19,923 | +19.6% |
| Parent | 276,121 | 210,969 | +30.9% |
| Partners’ Capital · Kilroy Realty L.P. | 278,803 | 213,031 | +30.9% |
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| Kilroy Realty L.P. | 302,640 | 232,954 | +29.9% |
| Net Income Loss Attributable To Noncontrolling Interest | -26,519 | -21,985 | -20.6% |
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| Kilroy Realty L.P. | -23,837 | -19,923 | -19.6% |
| Net Income Loss Available To Common Stockholders Basic | 276,121 | 210,969 | +30.9% |
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| Kilroy Realty L.P. | 278,803 | 213,031 | +30.9% |
| EPS (Basic) | 2.33 | 1.78 | +30.9% |
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| Kilroy Realty L.P. | 2.33 | 1.78 | +30.9% |
| EPS (Diluted) | 2.32 | 1.77 | +31.1% |
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| Kilroy Realty L.P. | 2.32 | 1.77 | +31.1% |
| Wtd Avg Shares (Basic) | 118,278,990 | 117,649,111 | +0.5% |
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| Kilroy Realty L.P. | 119,428,865 | 118,799,685 | +0.5% |
| Wtd Avg Shares (Diluted) | 118,832,035 | 118,156,987 | +0.6% |
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| Kilroy Realty L.P. | 119,981,910 | 119,307,561 | +0.6% |
| Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable | -2,682 | -2,062 | -30.1% |
| Net Income Loss Attributableto Noncontrolling Interestin Consolidated Subsidiary | -23,837 | -19,923 | -19.6% |
Balance Sheet
| Metric | FY 2025 | FY 2024 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 179,316 | 165,690 | +8.2% |
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| Kilroy Realty L.P. | 179,316 | 165,690 | +8.2% |
| Accounts Receivable | 12,765 | 11,033 | +15.7% |
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| Kilroy Realty L.P. | 12,765 | 11,033 | +15.7% |
| Non-Current Assets | |||
| Operating Lease Right-of-Use Assets | 128,116 | 129,222 | -0.9% |
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| Kilroy Realty L.P. | 128,116 | 129,222 | -0.9% |
| Total Assets | 10,915,076 | 10,898,357 | +0.2% |
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| Kilroy Realty L.P. | 10,915,076 | 10,898,357 | +0.2% |
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| Variable Interest Entity Primary Beneficiary | 380,940 | 435,478 | -12.5% |
| Variable Interest Entity Primary Beneficiary · Real Estate Investment | 319.4 | 357.3 | -10.6% |
| Intangible Assets (Q) | — | — | — |
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| Above Market Leases | 7,460 | 1,113 | +570.3% |
| Deferred Leasing Costs [Member] | 178,951 | 167,370 | +6.9% |
| Leases Acquired In Place | 91,821 | 57,454 | +59.8% |
| Other Assets | |||
| Investment Building And Building Improvements | 8,505,486 | 8,598,751 | -1.1% |
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| Kilroy Realty L.P. | 8,505,486 | 8,598,751 | -1.1% |
| Real Estate Investment Property At Cost | 12,535,141 | 12,659,195 | -1.0% |
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| Kilroy Realty L.P. | 12,535,141 | 12,659,195 | -1.0% |
| Real Estate Investment Property Accumulated Depreciation | -2,843,811 | -2,824,616 | -0.7% |
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| Kilroy Realty L.P. | -2,843,811 | -2,824,616 | -0.7% |
| Real Estate Investment Property Net | 9,691,330 | 9,834,579 | -1.5% |
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| Kilroy Realty L.P. | 9,691,330 | 9,834,579 | -1.5% |
| Real Estate Assets And Other Assets Held For Sale Net | 115,155 | — | — |
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| Kilroy Realty L.P. | 115,155 | — | — |
| Trading Securities | 30,807 | 27,965 | +10.2% |
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| Kilroy Realty L.P. | 30,807 | 27,965 | +10.2% |
| Deferred Rent Receivables Net | 424,794 | 451,996 | -6.0% |
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| Kilroy Realty L.P. | 424,794 | 451,996 | -6.0% |
| Disposal Group Including Discontinued Operation Deferred Leasing Costs And Acquisition Related Intangible Assets Net | 278,232 | 225,937 | +23.1% |
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| Kilroy Realty L.P. | 278,232 | 225,937 | +23.1% |
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| Disposal Group Heldforsale Not Discontinued Operations · San Diego | 3,939 | — | — |
| Prepaid Expense And Other Assets | 54,561 | 51,935 | +5.1% |
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| Kilroy Realty L.P. | 54,561 | 51,935 | +5.1% |
| Non-Current Liabilities | |||
| Accounts Payable And Accrued Liabilities Current And Noncurrent | 288,963 | 285,011 | +1.4% |
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| Kilroy Realty L.P. | 288,963 | 285,011 | +1.4% |
| Dividends Payable Current And Noncurrent | 65,009 | 64,850 | +0.2% |
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| Kilroy Realty L.P. | 65,009 | 64,850 | +0.2% |
| Kilroy Realty L.P. · Partners capital general partner | 63,921 | 63,745 | +0.3% |
| Kilroy Realty L.P. · Partners capital limited partner | 612 | 621 | -1.4% |
| Kilroy Realty L.P. · Partners’ Capital | 65,009 | 64,850 | +0.2% |
| Kilroy Realty L.P. · Restricted Stock Units RSU | 476 | 484 | -1.7% |
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| Capital Units | 612 | 621 | -1.4% |
| Common Stock | 63,921 | 63,745 | +0.3% |
| Common stockholders and noncontrolling unitholders | 65,009 | 64,850 | +0.2% |
| Total Liabilities | 5,277,333 | 5,289,488 | -0.2% |
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| Kilroy Realty L.P. | 5,277,333 | 5,289,488 | -0.2% |
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| Variable Interest Entity Primary Beneficiary | 18,304 | 18,047 | +1.4% |
| Long-Term Debt (Q) | — | — | — |
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| Kilroy Realty L.P. | 4,589,459 | — | — |
| Kilroy Realty L.P. · Secured Debt | 592,685 | 598,199 | -0.9% |
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| Unsecured Debt | 4 | 4 | 0.0% |
| Other Liabilities | |||
| Secured Debt | 592,685 | 598,199 | -0.9% |
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| Kilroy Realty L.P. | 592,685 | 598,199 | -0.9% |
| Kilroy Realty L.P. · Secured Debt | 600,442 | 606,688 | -1.0% |
| Unsecured Debt | 3,996,774 | 3,999,566 | -0.1% |
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| Kilroy Realty L.P. | 3,996,774 | 3,999,566 | -0.1% |
| Kilroy Realty L.P. · Unsecured Debt | 3,797,051 | 3,800,795 | -0.1% |
| Ground Lease Liability | 127,628 | 128,422 | -0.6% |
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| Kilroy Realty L.P. | 127,628 | 128,422 | -0.6% |
| Disposal Group Including Discontinued Operation Deferred Revenue And Acquisition Related Intangible Liabilities | 125,628 | 142,437 | -11.8% |
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| Kilroy Realty L.P. | 125,628 | 142,437 | -11.8% |
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| Disposal Group Heldforsale Not Discontinued Operations · San Diego | 1,882 | — | — |
| Disposal Group Including Discontinued Operation Advance Rent Including Tenant Security Deposits | 75,701 | 71,003 | +6.6% |
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| Kilroy Realty L.P. | 75,701 | 71,003 | +6.6% |
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| Disposal Group Heldforsale Not Discontinued Operations · San Diego | 2,400 | — | — |
| Liabilities Related To Real Estate Assets Held For Sale | 4,945 | — | — |
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| Kilroy Realty L.P. | 4,945 | — | — |
| Stockholders' Equity | |||
| Total Liabilities & Equity | 10,915,076 | 10,898,357 | +0.2% |
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| Kilroy Realty L.P. | 10,915,076 | 10,898,357 | +0.2% |
| Common Stock | 1,184 | 1,181 | +0.3% |
| Additional Paid-In Capital | 5,230,747 | 5,209,653 | +0.4% |
| Retained Earnings | 188,876 | 171,212 | +10.3% |
| Total Stockholders' Equity | 5,420,807 | 5,382,046 | +0.7% |
| Minority Interest In Operating Partnerships | 51,911 | 52,472 | -1.1% |
| Partners Capital Attributable To Noncontrolling Interest | 165,025 | 174,351 | -5.3% |
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| Kilroy Realty L.P. | 165,025 | 174,351 | -5.3% |
| Minority Interest | 216,936 | 226,823 | -4.4% |
| Stockholders Equity Including Portion Attributable To Noncontrolling Interest | 5,637,743 | 5,608,869 | +0.5% |
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| Accumulated Distributions In Excess Of Net Income | 188,876 | 171,212 | +10.3% |
| Additional Paid In Capital | 5,230,747 | 5,209,653 | +0.4% |
| Common Stock | 1,184 | 1,181 | +0.3% |
| Noncontrolling Interest | 216,936 | 226,823 | -4.4% |
| Parent | 5,420,807 | 5,382,046 | +0.7% |
| Land And Land Improvements | 1,641,913 | 1,750,820 | -6.2% |
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| Kilroy Realty L.P. | 1,641,913 | 1,750,820 | -6.2% |
| Undeveloped Land And Construction In Progress | 2,387,742 | 2,309,624 | +3.4% |
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| Kilroy Realty L.P. | 2,387,742 | 2,309,624 | +3.4% |
| General Partners Capital Account (Q) | — | — | — |
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| Kilroy Realty L.P. | 5,472,718 | 5,434,518 | +0.7% |
| Partners Capital Including Portion Attributable To Noncontrolling Interest (Q) | — | — | — |
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| Noncontrolling Interest · Kilroy Realty L.P. | 165,025 | 174,351 | -5.3% |
| Partners’ Capital · Kilroy Realty L.P. | 5,472,718 | 5,434,518 | +0.7% |
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| Kilroy Realty L.P. | 5,637,743 | 5,608,869 | +0.5% |
Cash Flow Statement
| Metric | FY 2025 | FY 2024 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Depreciation & Amortization | 349,271 | 349,828 | -0.2% |
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| Kilroy Realty L.P. | 349,271 | 349,828 | -0.2% |
| Depreciation Non Real Estate Assets | 5,583 | 6,354 | -12.1% |
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| Kilroy Realty L.P. | 5,583 | 6,354 | -12.1% |
| Revenues Deemed Uncollectible | 1,518 | 2,416 | -37.2% |
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| Kilroy Realty L.P. | 1,518 | 2,416 | -37.2% |
| Noncash Amortization Of Deferred Revenue Related To Tenant Funded Tenant Improvements | -14,644 | -17,605 | +16.8% |
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| Kilroy Realty L.P. | -14,644 | -17,605 | +16.8% |
| Straight Line Rent | 11,628 | 3,160 | +268.0% |
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| Kilroy Realty L.P. | 11,628 | 3,160 | +268.0% |
| Amortization Of Above And Below Market Leases | -3,079 | -3,521 | +12.6% |
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| Kilroy Realty L.P. | -3,079 | -3,521 | +12.6% |
| Amortization Of Financing Costs And Discounts | 4,777 | 6,893 | -30.7% |
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| Kilroy Realty L.P. | 4,777 | 6,893 | -30.7% |
| Stock-Based Compensation | 19,090 | 17,714 | +7.8% |
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| Kilroy Realty L.P. | 19,090 | 17,714 | +7.8% |
| Operating Lease Right Of Use Asset Amortization Expense | 1,106 | 1,066 | +3.8% |
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| Kilroy Realty L.P. | 1,106 | 1,066 | +3.8% |
| Impairment Of Real Estate | 16,259 | — | — |
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| Office and Life Science Properties Segment | -16,259 | — | — |
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| Kilroy Realty L.P. | 16,259 | — | — |
| Increase Decrease In Operating Assets | -11,326 | 1,894 | -698.0% |
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| Kilroy Realty L.P. | -11,326 | 1,894 | -698.0% |
| Increase Decrease In Operating Liabilities | 10,528 | -54,025 | +119.5% |
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| Kilroy Realty L.P. | 10,528 | -54,025 | +119.5% |
| Net Cash from Operations | 566,313 | 541,149 | +4.7% |
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| Kilroy Realty L.P. | 566,313 | 541,149 | +4.7% |
| Investing Activities | |||
| Payments To Develop Real Estate Assets | -174,687 | -365,521 | +52.2% |
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| Kilroy Realty L.P. | -174,687 | -365,521 | +52.2% |
| Payments For Capital Improvements | -116,025 | -100,303 | -15.7% |
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| Kilroy Realty L.P. | -116,025 | -100,303 | -15.7% |
| Payments To Acquire Commercial Real Estate | -397,251 | -35,155 | -1030.0% |
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| Kilroy Realty L.P. | -397,251 | -35,155 | -1030.0% |
| Proceeds From Sale Of Real Estate Heldforinvestment | 447,938 | — | — |
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| Kilroy Realty L.P. | 447,938 | — | — |
| Net Cash from Investing | -240,025 | -225,044 | -6.7% |
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| Kilroy Realty L.P. | -240,025 | -225,044 | -6.7% |
| Financing Activities | |||
| Payments To Minority Shareholders | -33,163 | -23,829 | -39.2% |
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| Kilroy Realty L.P. | -33,163 | -23,829 | -39.2% |
| Payments Of Dividends Common Stock | -257,861 | -256,306 | -0.6% |
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| Kilroy Realty L.P. | -257,861 | -256,306 | -0.6% |
| Tax Withholding for Share Compensation | -6,551 | -27,636 | +76.3% |
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| Kilroy Realty L.P. | -6,551 | -27,636 | +76.3% |
| Payments Of Financing Costs | -4,805 | -18,605 | +74.2% |
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| Kilroy Realty L.P. | -4,805 | -18,605 | +74.2% |
| Repayments Of Secured Debt | -6,246 | -6,006 | -4.0% |
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| Kilroy Realty L.P. | -6,246 | -6,006 | -4.0% |
| Proceeds From Issuance Of Unsecured Debt | 395,964 | 395,516 | +0.1% |
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| Kilroy Realty L.P. | 395,964 | 395,516 | +0.1% |
| Repayments Of Unsecured Debt | -400,000 | -723,712 | +44.7% |
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| $400.0 million term loan facility · Kilroy Realty L.P. | -200 | — | — |
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| Kilroy Realty L.P. | -400,000 | -723,712 | +44.7% |
| Proceeds From Long Term Lines Of Credit | 65,000 | — | — |
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| Kilroy Realty L.P. | 65,000 | — | — |
| Repayments Of Long Term Lines Of Credit | -65,000 | — | — |
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| Kilroy Realty L.P. | -65,000 | — | — |
| Net Cash from Financing | -312,662 | -660,578 | +52.7% |
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| Kilroy Realty L.P. | -312,662 | -660,578 | +52.7% |
| Supplemental | |||
| Interest Paid | 115,912 | 126,668 | -8.5% |
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| Kilroy Realty L.P. | 115,912 | 126,668 | -8.5% |
| Unpaid Capital Expenditures | 62,570 | 54,190 | +15.5% |
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| Kilroy Realty L.P. | 62,570 | 54,190 | +15.5% |
| Other Cash Flow | |||
| Net Change in Cash | 13,626 | -344,473 | +104.0% |
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| Kilroy Realty L.P. | 13,626 | -344,473 | +104.0% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 179,316 | 165,690 | +8.2% |
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| Kilroy Realty L.P. | 179,316 | 165,690 | +8.2% |
Values in thousands USD. Source: SEC EDGAR 10-K filing.