Income Statement Kilroy Realty Corporation

Equities

KRC

US49427F1084

Commercial REITs

Market Closed - Nyse Other stock markets 04:00:02 2024-09-17 pm EDT			5-day change	1st Jan Change
38.46 ^USD	+1.37%		+12.13%	-3.46%

Sep. 17	Kilroy Realty Maintains Quarterly Dividend at $0.54 per Share Payable on Oct. 9 to Stockholders of Record on Sept. 30	MT
Sep. 16	Kilroy Realty Corporation Declares Regular Quarterly Cash Dividend, Payable on October 9, 2024	CI

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Published financial data: KILROY REALTY CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Rental Revenues	826M	892M	949M	1.09B	1.12B
Tenant Reimbursements	-	-	-	-	-
Other Revenues, Total	10.98M	6.09M	6.05M	10.97M	11.96M
Total Revenues	837M	898M	955M	1.1B	1.13B
Property Expenses	254M	261M	270M	321M	351M
Selling General & Admin Expenses, Total	88.14M	80.66M	92.75M	93.64M	93.43M
Depreciation & Amortization - (IS) - (Collected)	273M	299M	310M	358M	355M
Provision for Bad Debts	-	-	-	-	-
Other Operating Expenses	-	-	-	-	-
Total Operating Expenses	615M	641M	672M	772M	800M
Operating Income (REIT / Utility Template)	222M	258M	283M	325M	330M
Interest Expense, Total	-48.54M	-70.77M	-78.56M	-84.28M	-114M
Interest and Investment Income	4.64M	3.42M	3.92M	1.76M	22.59M
Net Interest Expenses	-43.9M	-67.35M	-74.64M	-82.51M	-91.62M
EBT, Excl. Unusual Items	178M	190M	208M	242M	238M
Gain (Loss) on Sale of Investments	-	-	-	-	-
Gain (Loss) on Sale of Assets	36.8M	35.54M	463M	17.33M	-
Other Unusual Items	-	-18.6M	-12.25M	-	-
EBT, Incl. Unusual Items	215M	207M	659M	259M	238M
Earnings From Continuing Operations	215M	207M	659M	259M	238M
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	215M	207M	659M	259M	238M
Minority Interest	-19.79M	-20.19M	-30.77M	-26.88M	-26.05M
Net Income - (IS)	195M	187M	628M	233M	212M
Preferred Dividend and Other Adjustments	2.12M	2.23M	1.52M	1.27M	1.23M
Net Income to Common Incl Extra Items	193M	185M	627M	231M	211M
Net Income to Common Excl. Extra Items	193M	185M	627M	231M	211M
Per Share Items
Net EPS - Basic	1.87	1.63	5.38	1.98	1.8
Basic EPS - Continuing Operations	1.87	1.63	5.38	1.98	1.8
Basic Weighted Average Shares Outstanding	103M	113M	116M	117M	117M
Net EPS - Diluted	1.86	1.63	5.36	1.97	1.8
Diluted EPS - Continuing Operations	1.86	1.63	5.36	1.97	1.8
Diluted Weighted Average Shares Outstanding	104M	114M	117M	117M	118M
Normalized Basic EPS	0.89	0.87	0.85	1.07	1.05
Normalized Diluted EPS	0.88	0.87	0.85	1.06	1.05
Dividend Per Share	1.91	1.97	2.04	2.12	2.16
Payout Ratio	100.41	120.03	37.79	106.42	120.35
American Depositary Receipts Ratio (ADR)	0.12	0.12	0.12	0.12	0.12
Supplemental Items
EBITDA	450M	516M	553M	641M	647M
EBITA	232M	262M	290M	346M	339M
EBIT	222M	258M	283M	325M	330M
EBITDAR	459M	525M	561M	648M	657M
Total Revenues (As Reported)	837M	898M	955M	1.1B	1.13B
Normalized Net Income	91.73M	98.79M	99.25M	124M	123M
Interest Capitalized	81.24M	79.55M	80.2M	77.48M	78.77M
Interest on Long-Term Debt	130M	150M	159M	162M	193M
Supplemental Operating Expense Items
General and Administrative Expenses	88.14M	80.66M	92.75M	93.64M	93.43M
Net Rental Expense, Total	8.11M	8.89M	7.42M	7.56M	9.73M
Imputed Operating Lease Interest Expense	2.56M	2.79M	2.29M	2.28M	3.18M
Imputed Operating Lease Depreciation	5.55M	6.1M	5.13M	5.28M	6.55M
Stock-Based Comp., G&A Exp. (Total)	-	4.5M	-	-	-
Stock-Based Comp., Other (Total)	27.01M	25.74M	33.8M	28.35M	36.86M
Total Stock-Based Compensation	27.01M	30.24M	33.8M	28.35M	36.86M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Gross Property Plant And Equipment	7.46B	8.55B	9.45B	10.21B	10.37B
Accumulated Depreciation	-1.56B	-1.8B	-2B	-2.22B	-2.52B
Net Property Plant And Equipment	5.9B	6.75B	7.44B	7.99B	7.85B
Land Held For Development Or Sale	2.3B	1.78B	2.02B	1.69B	2.03B
Total Real Estate Assets	8.2B	8.53B	9.46B	9.68B	9.89B
Cash And Equivalents	60.04M	732M	414M	347M	510M
Accounts Receivable, Total	364M	399M	420M	473M	475M
Other Intangibles, Total	26.92M	14.67M	56.54M	70.42M	54.51M
Notes Receivable (Collected)	1.65M	-	-	-	-
Mortgage Loans	-	-	-	-	-
Restricted Cash	16.3M	91.14M	13.01M	-	-
Other Current Assets, Total	45.82M	37.67M	40.04M	34.91M	295M
Deferred Charges Long-Term	186M	196M	178M	180M	175M
Other Long-Term Assets, Total	-	-	2.67M	9.53M	5.46M
Total Assets	8.9B	10B	10.58B	10.8B	11.4B
Liabilities
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	5.64M	5.64M	6.44M	6.56M	6.74M
Long-Term Debt	3.55B	3.92B	4.07B	4.26B	4.93B
Long-Term Leases	92.76M	92.14M	119M	118M	118M
Accounts Payable, Total	338M	374M	316M	312M	295M
Accrued Expenses, Total	80.7M	71.3M	75.2M	80.5M	76.6M
Unearned Revenue, Current	16.94M	16.22M	18.33M	19.04M	17.3M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	53.22M	59.43M	61.85M	64.28M	64.44M
Unearned Revenue Non Current	165M	168M	206M	221M	205M
Other Non Current Liabilities	24.09M	13.34M	22.25M	37.44M	30.76M
Total Liabilities	4.33B	4.72B	4.89B	5.12B	5.74B
Preferred Stock Convertible	-	-	-	-	-
Preferred Stock - Others	-	-	-	-	-
Total Preferred Equity	-	-	-	-	-
Common Stock, Total	1.06M	1.16M	1.16M	1.17M	1.17M
Additional Paid In Capital	4.35B	5.13B	5.16B	5.17B	5.21B
Retained Earnings	-	-	284M	265M	221M
Distributions In Excess Of Earnings	-58.47M	-103M	-	-	-
Total Common Equity	4.29B	5.03B	5.44B	5.44B	5.43B
Minority Interest	277M	247M	250M	238M	232M
Total Equity	4.57B	5.28B	5.69B	5.67B	5.66B
Total Liabilities And Equity	8.9B	10B	10.58B	10.8B	11.4B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	106M	116M	117M	117M	117M
ECS Total Common Shares Outstanding	106M	116M	116M	117M	117M
Book Value / Share	40.5	43.35	46.71	46.52	46.3
Tangible Book Value	4.27B	5.02B	5.38B	5.37B	5.37B
Tangible Book Value Per Share	40.24	43.22	46.22	45.92	45.83
Total Debt	3.65B	4.02B	4.19B	4.39B	5.05B
Net Debt	3.59B	3.29B	3.78B	4.04B	4.54B
Debt Equivalent Oper. Leases	64.9M	71.13M	59.37M	60.52M	77.86M
Minority Interest, Total (Incl. Fin. Div)	277M	247M	250M	238M	232M
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	1.47B	1.63B	1.73B	1.74B	1.74B
Buildings, Total	5.87B	6.78B	7.54B	8.3B	8.46B
Machinery, Total	35.29M	43.37M	42.76M	41.54M	37.07M
Full Time Employees	267	252	244	259	248
Accumulated Allowance for Doubtful Accounts (Supple)	2.72M	2.6M	2.67M	3.2M	2.3M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	195M	187M	628M	233M	212M
Depreciation, Depletion & Amortization	219M	255M	264M	296M	309M
Amortization of Goodwill and Intangible Assets - (CF)	9.41M	4.16M	7.66M	21.17M	9.23M
Total Depreciation, Depletion & Amortization	229M	259M	272M	317M	318M
Amortization of Deferred Charges, Total	37.21M	36.58M	35.3M	34.72M	36.97M
(Gain) Loss On Sale of Asset - (CF)	-36.8M	-35.54M	-463M	-17.33M	-
Stock-Based Compensation (CF)	27.01M	30.24M	33.8M	28.35M	36.86M
Provision and Write-off of Bad Debts	-3.43M	19M	1.43M	-123K	11.55M
Change in Other Net Operating Assets (Collected)	9.7M	24.48M	36.92M	35.84M	-521K
Other Operating Activities	-71.43M	-65.18M	-27.98M	-38.67M	-12.4M
Net Cash From Discontinued Operations	-	-	-	-	-
Cash from Operations	387M	456M	516M	592M	603M
Acquisition of Real Estate Assets, Total	-1.35B	-616M	-1.8B	-587M	-544M
Sale of Real Estate Assets, Total	124M	74.94M	1.05B	33.42M	-
Net Sale / Acquisition of Real Estate Assets	-1.23B	-541M	-749M	-553M	-544M
Cash Acquisitions	-	-1M	-	-	-
Investment in Marketable and Equity Securities, Total	-	-	-	-	-257M
Other Investing Activities, Total	-	-	1M	-	-
Cash from Investing	-1.23B	-542M	-748M	-553M	-800M
Long-Term Debt Issued, Total	1.61B	962M	450M	200M	695M
Total Debt Issued	1.61B	962M	450M	200M	695M
Long-Term Debt Repaid, Total	-986M	-590M	-317M	-5.56M	-26.36M
Total Debt Repaid	-986M	-590M	-317M	-5.56M	-26.36M
Issuance of Common Stock	354M	722M	383K	-	-
Repurchase of Common Stock	-14.56M	-14.08M	-21.89M	-22.93M	-11.6M
Repurchase of Preferred Stock	-	-	-	-	-
Common Dividends Paid	-196M	-225M	-237M	-248M	-255M
Preferred Dividends Paid	-	-	-	-	-
Common & Preferred Stock Dividends Paid	-196M	-225M	-237M	-248M	-255M
Special Dividend Paid	-	-	-	-	-
Other Financing Activities, Total	-19.63M	-21.84M	-38.07M	-42.7M	-41.02M
Cash from Financing	747M	833M	-165M	-119M	361M
Net Change in Cash	-94.69M	747M	-396M	-79.7M	163M
Supplemental Items
Cash Interest Paid	43.61M	61.74M	77.03M	79.63M	106M
Net Debt Issued / Repaid	623M	372M	132M	194M	669M
Levered Free Cash Flow	739M	392M	486M	518M	261M
Unlevered Free Cash Flow	768M	433M	532M	567M	327M
Change In Net Working Capital	-337M	50.6M	-17.58M	12.03M	266M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	1.67	1.7	1.72	1.9	1.86
Return on Total Capital	1.81	1.84	1.84	2.03	1.98
Return On Equity %	4.91	4.21	12.02	4.57	4.2
Return on Common Equity	4.7	3.97	11.97	4.25	3.88
Margin Analysis
Gross Profit Margin %	69.69	70.98	71.77	70.73	68.92
SG&A Margin	10.52	8.98	9.71	8.54	8.27
EBITDA Margin %	53.79	57.41	57.94	58.41	57.25
EBITA Margin %	27.67	29.15	30.4	31.53	30.02
EBIT Margin %	26.55	28.68	29.6	29.6	29.2
Income From Continuing Operations Margin %	25.7	23.07	68.99	23.66	21.09
Net Income Margin %	23.34	20.83	65.77	21.2	18.79
Net Avail. For Common Margin %	23.08	20.58	65.61	21.09	18.68
Normalized Net Income Margin	10.95	11	10.39	11.35	10.88
Levered Free Cash Flow Margin	88.26	43.63	50.91	47.23	23.08
Unlevered Free Cash Flow Margin	91.71	48.22	55.75	51.7	28.94
Asset Turnover
Asset Turnover	0.1	0.1	0.09	0.1	0.1
Fixed Assets Turnover	0.15	0.14	0.13	0.14	0.14
Receivables Turnover (Average Receivables)	2.54	2.34	2.32	2.43	2.36
Short Term Liquidity
Current Ratio	0.99	2.39	1.86	1.77	2.78
Quick Ratio	0.86	2.15	1.75	1.7	2.14
Operating Cash Flow to Current Liabilities	0.78	0.87	1.08	1.23	1.31
Days Sales Outstanding (Average Receivables)	143.89	156.5	157.45	150.04	154.68
Average Days Payable Outstanding	265.97	499.72	467.02	356.93	315.25
Long Term Solvency
Total Debt/Equity	79.88	76.2	73.72	77.32	89.28
Total Debt / Total Capital	44.41	43.25	42.43	43.61	47.17
LT Debt/Equity	79.76	76.1	73.6	77.21	89.16
Long-Term Debt / Total Capital	44.34	43.19	42.37	43.54	47.1
Total Liabilities / Total Assets	48.64	47.23	46.24	47.44	50.36
EBIT / Interest Expense	4.58	3.64	3.6	3.85	2.89
EBITDA / Interest Expense	9.45	7.41	7.14	7.69	5.75
(EBITDA - Capex) / Interest Expense	9.45	7.41	7.14	7.69	5.75
Total Debt / EBITDA	7.96	7.66	7.48	6.77	7.7
Net Debt / EBITDA	7.83	6.27	6.74	6.23	6.92
Total Debt / (EBITDA - Capex)	7.96	7.66	7.48	6.77	7.7
Net Debt / (EBITDA - Capex)	7.83	6.27	6.74	6.23	6.92
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	12.06	7.28	6.3	14.86	2.98
Gross Profit, 1 Yr. Growth %	8.77	9.27	7.49	13.2	0.35
EBITDA, 1 Yr. Growth %