Kilroy Realty Corp's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Kilroy Realty Corp reported revenue of $1.1B (-2.0% year on year) and net income of $302.6M (+29.9% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Rental income | $1.1B | $1.1B | $1.1B | $1.1B |
| Other property income | $19.1M | $17.5M | $12.0M | $11.0M |
| Total revenues | $1.1B | $1.1B | $1.1B | $1.1B |
| Property expenses | $243.7M | $243.4M | $229.0M | $202.7M |
| Real estate taxes | $107.6M | $109.0M | $105.9M | $105.9M |
| Ground leases | $12.0M | $11.7M | $9.7M | $7.6M |
| General and administrative expenses | $73.1M | $72.1M | $93.4M | $93.6M |
| Leasing costs | $10.4M | $8.8M | $6.5M | $4.9M |
| Depreciation and amortization | $354.9M | $356.2M | $355.3M | $357.6M |
| Total expenses | $801.7M | $801.1M | $799.8M | $772.3M |
| Interest income | $7.0M | $37.8M | $22.6M | $1.8M |
| Interest expense | ($126.3M) | ($145.3M) | — | — |
| Other income (expense) | $168.0K | — | — | — |
| Gains on sales of depreciable operating properties | $127.0M | $0 | $0 | $17.3M |
| Impairment of real estate assets | ($16.3M) | — | — | — |
| Gain on sale of long-lived assets | $0 | $6.0M | — | — |
| Total other expenses | ($8.4M) | ($101.6M) | ($91.6M) | ($65.2M) |
| Net income | $302.6M | $233.0M | $238.3M | $259.5M |
| Net income attributable to noncontrolling common units of the Operating Partnership | ($2.7M) | ($2.1M) | ($2.1M) | ($2.3M) |
| Net income attributable to noncontrolling interests in consolidated property partnerships | ($23.8M) | ($19.9M) | ($24.0M) | ($24.6M) |
| Total net income attributable to noncontrolling interests | ($26.5M) | ($22.0M) | ($26.0M) | ($26.9M) |
| Net income available to common stockholders | $276.1M | $211.0M | $212.2M | $232.6M |
| Net income available to common stockholders per share - basic ( in dollars per share) | $2.33 | $1.78 | $1.80 | $1.98 |
| Net income available to common stockholders per share - diluted (in dollars per share) | $2.32 | $1.77 | $1.80 | $1.97 |
| Weighted average common units outstanding - basic (in shares) | 118.3M | 117.6M | 117.2M | 116.8M |
| Weighted average shares of common stock outstanding – diluted (in shares) | 118.8M | 118.2M | 117.5M | 117.2M |
| Line item | Sep 30, 2026 · Q3 | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 |
|---|---|---|---|---|
| Rental income | $266.8M | $268.3M | $265.3M | $274.9M |
| Other property income | $4.9M | $4.0M | $4.7M | $4.8M |
| Total revenues | $271.6M | $272.4M | $270.1M | $279.7M |
| Property expenses | $64.6M | $60.1M | $59.3M | $61.8M |
| Real estate taxes | $30.3M | $28.3M | $28.8M | $25.9M |
| Ground leases | $3.2M | $3.3M | $3.2M | $3.0M |
| General and administrative expenses | $18.4M | $18.9M | $20.7M | $18.2M |
| Leasing costs | $3.0M | $2.8M | $3.0M | $2.6M |
| Depreciation and amortization | $93.2M | $93.6M | $94.3M | $87.5M |
| Total expenses | $212.7M | $207.0M | $209.3M | $199.0M |
| Interest income | $620.0K | $1.2M | $954.0K | $3.1M |
| Interest expense | ($39.4M) | ($41.6M) | ($38.5M) | ($32.2M) |
| Other income | $83.0K | ($248.0K) | $389.0K | $91.0K |
| Gains on sales of depreciable operating properties | $0 | $0 | $23.5M | $110.5M |
| Impairment of real estate assets | $0 | $0 | ($61.8M) | — |
| Total other (expenses) income | ($38.7M) | ($40.6M) | ($75.4M) | $81.5M |
| Net income | $20.3M | $24.7M | ($14.7M) | $162.3M |
| Net income attributable to noncontrolling common units of the Operating Partnership | ($151.0K) | ($193.0K) | $185.0K | ($1.5M) |
| Net income attributable to noncontrolling interests in consolidated property partnerships | ($4.6M) | ($4.6M) | ($4.8M) | ($4.5M) |
| Total net income attributable to noncontrolling interests | ($4.8M) | ($4.8M) | ($4.6M) | ($6.1M) |
| Net income available to common stockholders | $15.5M | $19.9M | ($19.3M) | $156.2M |
| Net income available to common stockholders per share – basic (in dollars per share) | $0.13 | $0.17 | -$0.16 | $1.32 |
| Net income available to common stockholders per share – diluted (in dollars per share) | $0.13 | $0.17 | -$0.16 | $1.31 |
| Weighted average shares of common stock outstanding – basic (in shares) | 116.3M | 116.3M | 117.6M | 118.3M |
| Weighted average shares of common stock outstanding – diluted (in shares) | 117.2M | 117.1M | 117.6M | 118.8M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Land | $1.6B | $1.8B | $1.7B | $1.7B |
| Buildings and improvements | $8.5B | $8.6B | $8.5B | $8.3B |
| Undeveloped land and construction in progress | $2.4B | $2.3B | $2.0B | $1.7B |
| Total real estate assets held for investment | $12.5B | $12.7B | $12.2B | $11.7B |
| Accumulated depreciation and amortization | ($2.8B) | ($2.8B) | ($2.5B) | ($2.2B) |
| Total real estate assets held for investment, net | $9.7B | $9.8B | $9.7B | $9.5B |
| Real estate and other assets held for sale, net | $115.2M | — | — | — |
| Cash and cash equivalents | $179.3M | $165.7M | $510.2M | $347.4M |
| Marketable securities | $30.8M | $28.0M | $284.7M | $23.5M |
| Current receivables (net of allowances of $244 and $314 as of December 31, 2025 and 2024, respectively) | $12.8M | $11.0M | $13.6M | $20.6M |
| Deferred rent receivables, net | $424.8M | $452.0M | $461.0M | $452.2M |
| Deferred leasing costs and acquisition-related intangible assets, net | $278.2M | — | — | — |
| Right of use ground lease assets, net | $128.1M | $129.2M | $125.5M | $126.5M |
| Prepaid expenses and other assets, net | $54.6M | $51.9M | $53.1M | $62.4M |
| Total assets | $10.9B | $10.9B | $11.4B | $10.8B |
| Secured debt, net | $592.7M | $598.2M | $603.2M | $242.9M |
| Unsecured debt, net | $4.0B | $4.0B | $4.3B | $4.0B |
| Accounts payable, accrued expenses, and other liabilities | $289.0M | $285.0M | $371.2M | $392.4M |
| Ground lease liabilities | $127.6M | — | — | — |
| Accrued dividends and distributions | $65.0M | $64.8M | $64.4M | $64.3M |
| Deferred revenue and acquisition-related intangible liabilities, net | $125.6M | $142.4M | $173.6M | $196.0M |
| Rents received in advance and tenant security deposits | $75.7M | $71.0M | $79.4M | $81.4M |
| Liabilities related to real estate assets held for sale | $4.9M | — | — | — |
| Total liabilities | $5.3B | $5.3B | $5.7B | $5.1B |
| Common stock, $.01 par value, 280,000,000 shares authorized, 118,372,451 and 118,046,674 shares issued and outstanding | 1.2M | 1.2M | 1.2M | 1.2M |
| Additional paid-in capital | $5.2B | $5.2B | $5.2B | $5.2B |
| Retained earnings | $188.9M | $171.2M | $221.1M | $265.1M |
| Total stockholders’ equity | $5.4B | $5.4B | $5.4B | $5.4B |
| Common units of the Operating Partnership | $51.9M | $52.5M | $53.3M | $53.5M |
| Consolidated property partnerships | $165.0M | — | — | — |
| Total noncontrolling interests | $216.9M | $226.8M | $231.5M | $237.9M |
| Total equity | $5.6B | $5.6B | $5.7B | $5.7B |
| Total liabilities and equity | $10.9B | $10.9B | $11.4B | $10.8B |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 |
|---|---|---|---|---|
| Land | $1.7B | $1.7B | $1.7B | $1.7B |
| Buildings and improvements | $9.1B | $9.1B | $9.0B | $8.7B |
| Undeveloped land and construction in progress | $1.6B | $1.6B | $1.6B | $2.4B |
| Total real estate assets held for investment | $12.5B | $12.4B | $12.3B | $12.7B |
| Accumulated depreciation and amortization | ($3.0B) | ($2.9B) | ($2.9B) | ($3.0B) |
| Total real estate assets held for investment, net | $9.4B | $9.4B | $9.5B | $9.7B |
| Real estate and other assets held for sale, net | $0 | $0 | $188.8M | — |
| Cash and cash equivalents | $94.3M | $253.8M | $192.9M | $372.4M |
| Restricted cash | $250.0K | — | — | — |
| Marketable securities | $34.0M | $35.0M | $31.4M | $33.6M |
| Current receivables (net of allowances of $9 and $244 as of September 30, 2026 and December 31, 2025 respectively) | $16.8M | $12.2M | $15.7M | $13.2M |
| Deferred rent receivables, net | $420.4M | $424.0M | $425.4M | $436.9M |
| Deferred leasing costs and acquisition-related intangible assets, net | $272.4M | $264.0M | $271.2M | $229.2M |
| Right of use ground lease assets, net | $127.3M | $127.5M | $127.8M | $128.4M |
| Prepaid expenses and other assets, net | $64.1M | $67.2M | $52.3M | $56.0M |
| Total assets | $10.5B | $10.6B | $10.8B | $11.0B |
| Secured debt, net | $588.8M | $590.1M | $591.4M | $594.0M |
| Unsecured debt, net | $3.7B | $3.9B | $4.0B | $4.0B |
| Unsecured line of credit | $40.0M | — | — | — |
| Accounts payable, accrued expenses, and other liabilities | $309.3M | $260.6M | $303.8M | $321.2M |
| Ground lease liabilities | $127.0M | $127.2M | $127.4M | $127.8M |
| Accrued dividends and distributions | $63.4M | $63.4M | $63.4M | $65.0M |
| Deferred revenue and acquisition-related intangible liabilities, net | $112.9M | $117.8M | $122.3M | $127.9M |
| Rents received in advance and tenant security deposits | $82.7M | $77.7M | $79.6M | $74.9M |
| Liabilities related to real estate assets held for sale | $0 | $0 | $0 | — |
| Total liabilities | $5.1B | $5.2B | $5.3B | $5.3B |
| Common stock, $.01 par value, 280,000,000 shares authorized, 116,308,988 and 118,372,451 shares issued and outstanding | 1.2M | 1.2M | 1.2M | 1.2M |
| Additional paid-in capital | $5.2B | $5.2B | $5.2B | $5.2B |
| Retained earnings | $10.6M | $58.9M | $102.9M | $240.8M |
| Total stockholders’ equity | $5.2B | $5.2B | $5.3B | $5.5B |
| Common units of the Operating Partnership | $50.5M | $50.9M | $51.3M | $53.2M |
| Consolidated property partnerships | $170.2M | $170.8M | $172.4M | $167.3M |
| Total noncontrolling interests | $220.7M | $221.8M | $223.8M | $220.5M |
| Total equity | $5.4B | $5.4B | $5.5B | $5.7B |
| Total liabilities and equity | $10.5B | $10.6B | $10.8B | $11.0B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income | $302.6M | $233.0M | $238.3M | $259.5M |
| Depreciation and amortization of real estate assets and leasing costs | $349.3M | $349.8M | $348.1M | $350.7M |
| Depreciation of non-real estate furniture, fixtures, and equipment | $5.6M | $6.4M | $7.2M | $6.9M |
| Revenues deemed uncollectible | $1.5M | — | — | — |
| Non-cash amortization of deferred revenue related to tenant-funded tenant improvements | ($14.6M) | ($17.6M) | ($19.2M) | ($19.3M) |
| Straight-line rents, net | $11.6M | $3.2M | ($19.3M) | ($46.2M) |
| Non-cash amortization of net below-market rents | ($3.1M) | ($3.5M) | ($6.6M) | ($10.5M) |
| Non-cash amortization of deferred financing costs and debt discounts | $4.8M | $6.9M | $5.2M | $3.7M |
| Non-cash amortization of share-based compensation awards | $19.1M | $17.7M | $36.9M | $28.3M |
| Amortization of right of use ground lease assets | $1.1M | $1.1M | $1.0M | $772.0K |
| Gains on sales of depreciable operating properties | ($127.0M) | $0 | $0 | ($17.3M) |
| Impairment of real estate assets | $16.3M | — | — | — |
| Gain on sale of long-lived assets | $0 | ($6.0M) | — | — |
| Net change in other operating assets | ($11.3M) | $1.9M | $2.3M | ($12.6M) |
| Net change in other operating liabilities | $10.5M | ($54.0M) | ($2.8M) | $48.4M |
| Net cash provided by operating activities | $566.3M | $541.1M | $602.6M | $592.2M |
| Expenditures for development and redevelopment properties and undeveloped land | ($174.7M) | ($365.5M) | ($446.4M) | ($453.8M) |
| Expenditures for operating properties and other capital assets | ($116.0M) | ($100.3M) | ($97.4M) | ($92.8M) |
| Expenditures for acquisitions of operating properties | ($397.3M) | ($35.2M) | $0 | $0 |
| Net proceeds received from dispositions of real estate assets | $447.9M | $0 | $0 | $33.4M |
| Net proceeds received from disposition of long-lived assets | $0 | $19.4M | — | — |
| Maturity (Purchases) of certificates of deposit | $0 | — | — | — |
| Net cash used in investing activities | ($240.0M) | ($225.0M) | ($800.4M) | ($553.2M) |
| Distributions to noncontrolling interests in consolidated property partnerships | ($33.2M) | ($23.8M) | ($30.1M) | ($36.3M) |
| Dividends and distributions paid to common stockholders and common unitholders | ($257.9M) | ($256.3M) | ($255.4M) | ($247.6M) |
| Taxes paid upon net share settlement of restricted share units | ($6.6M) | ($27.6M) | ($11.6M) | ($22.9M) |
| Financing costs | ($4.8M) | ($18.6M) | ($10.9M) | ($6.4M) |
| Principal payments and repayments of secured debt | ($6.2M) | ($6.0M) | ($5.8M) | ($5.6M) |
| Proceeds from the issuance of unsecured debt | $396.0M | $395.5M | $0 | $0 |
| Proceeds from the issuance of secured debt | $0 | $0 | $375.0M | — |
| Repayments of unsecured debt | ($400.0M) | ($723.7M) | $0 | $0 |
| Borrowings on unsecured debt | $0 | $0 | $320.0M | $200.0M |
| Repurchases of unsecured debt | $0 | $0 | ($20.6M) | — |
| Borrowings on unsecured revolving credit facility | $65.0M | — | — | $0 |
| Repayments on unsecured revolving credit facility | ($65.0M) | — | — | $0 |
| Net cash (used in) provided by financing activities | ($312.7M) | ($660.6M) | $360.6M | ($118.7M) |
| Net increase (decrease) in cash and cash equivalents and restricted cash | $13.6M | ($344.5M) | $162.8M | ($79.7M) |
| Cash and cash equivalents and restricted cash, beginning of year | $165.7M | $510.2M | $347.4M | $427.1M |
| Cash and cash equivalents and restricted cash, end of year | $179.3M | $165.7M | $510.2M | $347.4M |
| Line item | Sep 30, 2026 · YTD | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $30.3M | $10.0M | ($14.7M) | $285.5M |
| Depreciation and amortization of real estate assets and leasing costs | $276.8M | $185.0M | $92.9M | $258.1M |
| Depreciation of non-real estate furniture, fixtures, and equipment | $4.3M | $2.9M | $1.5M | $4.2M |
| Revenues deemed uncollectible | $825.0K | $533.0K | $358.0K | $990.0K |
| Non-cash amortization of deferred revenue related to tenant-funded tenant improvements | ($9.9M) | ($6.5M) | ($3.2M) | ($11.1M) |
| Straight-line rents, net | $3.6M | $801.0K | ($701.0K) | $9.3M |
| Non-cash amortization of net below-market rents | ($2.0M) | ($1.3M) | ($641.0K) | ($2.5M) |
| Non-cash amortization of deferred financing costs and debt discounts | $6.2M | $4.3M | $1.7M | $3.6M |
| Non-cash amortization of share-based compensation awards | $11.2M | $7.9M | $4.9M | $13.9M |
| Amortization of right of use ground lease assets | $855.0K | $568.0K | $282.0K | $826.0K |
| Gains on sales of depreciable operating properties | ($23.5M) | ($23.5M) | ($23.5M) | ($127.0M) |
| Impairment of real estate assets | $61.8M | $61.8M | $61.8M | — |
| Net change in other operating assets | ($7.8M) | ($8.3M) | $131.0K | ($17.7M) |
| Net change in other operating liabilities | $32.4M | ($5.3M) | $30.0M | $39.1M |
| Net cash provided by operating activities | $385.1M | $228.9M | $150.7M | $457.2M |
| Expenditures for development and redevelopment properties and undeveloped land | ($164.8M) | ($126.9M) | ($102.6M) | ($123.9M) |
| Expenditures for operating properties and other capital assets | ($115.0M) | ($68.4M) | ($29.9M) | ($74.5M) |
| Net proceeds received from dispositions of real estate assets | $330.3M | $330.3M | $141.4M | $392.5M |
| Investment in unconsolidated investment fund | ($1.6M) | ($1.0M) | — | — |
| Expenditures for acquisitions of operating properties | $0 | — | — | ($205.0M) |
| Net cash provided by (used in) investing activities | $48.9M | $134.0M | $15.0M | ($10.9M) |
| Distributions to noncontrolling interests in consolidated property partnerships | ($17.8M) | ($12.6M) | ($6.4M) | ($26.3M) |
| Dividends and distributions paid to common stockholders and common unitholders | ($191.4M) | ($127.9M) | ($64.5M) | ($193.4M) |
| Taxes paid upon net share settlement of restricted share units | ($7.0M) | ($7.0M) | ($7.0M) | ($6.4M) |
| Principal payments and repayments of secured debt | ($4.8M) | ($3.2M) | ($1.6M) | ($4.7M) |
| Financing costs | ($15.1M) | ($15.0M) | $0 | ($4.8M) |
| Repurchase of common stock | ($72.7M) | ($72.7M) | ($72.7M) | — |
| Repayments of unsecured debt | ($250.0M) | ($50.0M) | — | ($400.0M) |
| Borrowings on unsecured revolving credit facility | $105.0M | $40.0M | — | $65.0M |
| Repayments on unsecured revolving credit facility | ($65.0M) | ($40.0M) | — | ($65.0M) |
| Proceeds from the issuance of unsecured debt | $0 | — | — | $396.0M |
| Net cash used in financing activities | ($518.8M) | ($288.4M) | ($152.2M) | ($239.6M) |
| Net (decrease) increase in cash and cash equivalents and restricted cash | ($84.8M) | $74.5M | $13.6M | $206.7M |
| Cash and cash equivalents, beginning of period | $179.3M | $179.3M | $179.3M | $165.7M |
| Cash and cash equivalents and restricted cash, end of period | $94.6M | — | — | $372.4M |
Kilroy Realty Corp score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.