Kilroy Realty : Third Quarter 2024

Q3 2024 Supplemental Financial Report

KILROY REALTY CORPORATION REPORTS

THIRD QUARTER FINANCIAL RESULTS

---------------

LOS ANGELES, October 28, 2024 - Kilroy Realty Corporation (NYSE: KRC) today reported financial results for its third quarter ended September 30, 2024.

Financial Results

• Revenues grew 2.2% to $289.9 million for the quarter ended September 30, 2024, as compared to $283.6 million for the quarter ended September 30, 2023
• Net income available to common stockholders of $0.44 per diluted share, as compared to $0.45 per diluted share for the quarter ended September 30, 2023
• Funds from operations available to common stockholders and unitholders ("FFO") of $140.4 million, or $1.17 per diluted share, an increase of 4.5% as compared to $134.0 million, or $1.12 per diluted share, for the quarter ended September 30, 2023

"I'm pleased to report on a strong quarter of execution across our platform as we continue to navigate the recovery that is taking hold in our markets," commented Angela Aman, CEO. "In addition to solid third quarter leasing activity, we have also been active on the capital allocation front, acquiring a small office campus located strategically adjacent to our One Paseo mixed-use project in San Diego."

Leasing and Occupancy

• Stabilized portfolio was 84.3% occupied and 85.8% leased at September 30, 2024
• During the quarter ended September 30, 2024, signed approximately 436,000 square feet of leases, comprised of 48,000 square feet of new leasing on previously vacant space, 38,000 square feet of new leasing on currently occupied space, and 350,000 square feet of renewal leasing
• • Includes 209,000 square feet of short-term leasing, primarily comprised of 198,000 square feet of short-term renewal leasing
• During the quarter ended September 30, 2024, DermTech, which filed for bankruptcy during the quarter ended June 30, 2024, rejected its lease and Kilroy executed a 110,000 square foot short-term lease with the successor entity to facilitate DermTech's interim operations. This lease has been excluded from the leasing productivity statistics above
• During the quarter ended September 30, 2024, GAAP rents on signed leases increased 26.0% and cash rents increased 7.1% from prior levels on second generation leasing, excluding short-term leasing

Acquisition Activity

• In September, completed the acquisition of Junction at Del Mar, an approximately 104,000 square foot office property, comprised of two buildings in the Del Mar submarket of San Diego, for $35.0 million. The buildings, which are located adjacent to the Company's One Paseo mixed-use project, are 96% leased with a weighted average lease term of 4.7 years

Balance Sheet / Liquidity

• In September, repaid the full amount outstanding on the $120.0 million term loan, which had an initial maturity date of October 3, 2024
• As of September 30, 2024, the Company had approximately $1.7 billion of total liquidity comprised of approximately $0.6 billion of cash and approximately $1.1 billion available under the fully undrawn unsecured revolving credit facility

Dividend

• The Board declared and paid a regular quarterly cash dividend on its common stock of $0.54 per share, equivalent to an annual rate of $2.16
• The dividend was paid on October 9, 2024 to stockholders of record on September 30, 2024 (the ex-dividend date)

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Q3 2024 Supplemental Financial Report

Net Income Available to Common Stockholders / FFO Guidance and Outlook

The Company is providing an updated Nareit-defined FFO per diluted share guidance for the full year 2024 of $4.38 to $4.44 per share, with a midpoint of $4.41 per share.

		Full Year 2024 Range			Full Year 2024 Range
		as of July 2024			as of October 2024
		Low End			High End			Low End			High End
		$ and shares/units in thousands, except per share/unit amounts
Net income available to common stockholders per share - diluted	$	1.50	$	1.59	$	1.61	$	1.66
Weighted average common shares outstanding - diluted (1)		118,000			118,000			118,150			118,150
Net income available to common stockholders	$	177,000	$	188,000	$	190,000	$	196,000
Adjustments:
Net income attributable to noncontrolling common units of the Operating Partnership		1,800			1,900			1,900			2,000
Net income attributable to noncontrolling interests in consolidated property partnerships		20,500			21,000			20,250			20,750
Depreciation and amortization of real estate assets		338,000			339,000			346,000			347,000
Gains on sales of depreciable real estate		-			-			-			-
Funds From Operations attributable to noncontrolling interests in consolidated property		(31,500)			(32,000)			(31,500)			(32,000)
partnerships
Funds From Operations (2)	$	505,800	$	517,900	$	526,650	$	533,750
Weighted average common shares/units outstanding - diluted (3)		120,200			120,200			120,250			120,250
Funds From Operations per common share/unit - diluted (3)	$	4.21	$	4.31	$	4.38	$	4.44

	Key Assumptions		July 2024 Assumptions		October 2024 Assumptions
	Change in same store cash NOI (2)		(3.0%) to (4.0%)		(1.5%) to (2.0%)
	Average full year occupancy		82.75% to 83.75%		83.75% to 84.25%
	General and administrative expenses		$72 million to $80 million		$74 million to $76 million
	Total development spending (4)		$225 million to $275 million		$250 million to $275 million
	Weighted average common shares/units outstanding - diluted (in thousands) (3)	120,200	120,225
________________________

1. Calculated based on estimated weighted average shares outstanding, including non-participatingshare-based awards and the dilutive impact of contingently issuable shares.
2. See pages 33-34 for Management Statements on Funds From Operations and Same Store Cash Net Operating Income.
3. Calculated based on weighted average shares outstanding, including participating and non-participatingshare-based awards, and the dilutive impact of contingently issuable shares, and assuming the exchange of all common limited partnership units outstanding. Reported amounts are attributable to common stockholders, common unitholders and restricted stock unitholders.
4. Remaining 2024 development spending is $50 million to $75 million.

The Company's guidance estimates for the full year 2024, and the reconciliation of net income available to common stockholders per share - diluted and FFO per share and unit - diluted included within this press release, reflect management's views on current and future market conditions, including assumptions with respect to rental rates, occupancy levels, and the earnings impact of the events referenced in this press release. These guidance estimates do not include the impact on the Company's operating results from potential future acquisitions, dispositions (including any associated gains or

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Q3 2024 Supplemental Financial Report

losses), capital markets activity, impairment charges, or any events outside of the Company's control, as the timing and magnitude of any such events are not known at the time the Company provides guidance. There can be no assurance that the Company's actual results will not differ materially from these estimates.

Conference Call and Audio Webcast

The Company's management will discuss third quarter results and the current business environment during the Company's October 29, 2024 earnings conference call. The call will begin at 10:00 a.m. Pacific Time and last approximately one hour. To participate and obtain conference call dial-in details, register by using the following link, https://www.netroadshow.com/events/login?show=f1c41247&confId=58186. Those interested in listening via the Internet can access the conference call at https://events.q4inc.com/attendee/193901324. It may be necessary to download audio software to hear the conference call.

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Q3 2024 Supplemental Financial Report

Table of Contents

Corporate Data and Financial Highlights

Company Background

Financial Highlights Consolidated Balance Sheets Consolidated Statements of Operations

Funds From Operations and Funds Available for Distribution Net Operating Income

Portfolio Data

Same Store Analysis

Stabilized Portfolio Occupancy Overview by Region Information on Leases Commenced & Leases Executed Stabilized Portfolio Capital Expenditures

Stabilized Portfolio Lease Expirations Top 20 Tenants

Tenant Industry Diversification

2024 Operating Property Acquisitions

Consolidated Ventures (Noncontrolling Property Partnerships) Development

In-Process Development & Redevelopment Future Development Pipeline

Debt and Capitalization Data

Capital Structure

Debt Analysis

Non-GAAP Supplemental Measures

Definitions & Reconciliations

Page

2

3

4

5

6

7

9

10-14

15-16

17

18-19

20

21

22

23

25

26

28

29-30

32-34

36-42

This Supplemental Financial Report contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, among other things, information concerning lease expirations, debt maturities, potential investments, development and redevelopment activity, projected construction costs, dispositions, and other forward-looking financial data. In some instances, forward-looking statements can be identified by the use of forward-looking terminology such as "expect," "future," "will," "would," "pursue," or "project", and variations of such words and similar expressions that do not relate to historical matters. Forward-looking statements are based on Kilroy Realty Corporation's current expectations, beliefs, and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends, and factors that are difficult to predict, many of which are outside of Kilroy Realty Corporation's control. Accordingly, actual performance, results, and events may vary materially from those indicated or implied in the forward-looking statements, and you should not rely on the forward- looking statements as predictions of future performance, results, or events. Numerous factors could cause actual future performance, results, and events to differ materially from those indicated in the forward-looking statements, including, among others: global market and general economic conditions, including periods of heightened inflation, and their effect on our liquidity and financial conditions and those of our tenants; adverse economic or real estate conditions generally, and specifically, in the States of California, Texas, and Washington; risks associated with our investment in real estate assets, which are illiquid, and with trends in the real estate industry; defaults on or non-renewal of leases by tenants; any significant downturn in tenants' businesses, including bankruptcy, lack of liquidity or lack of funding, and the impact labor disruptions or strikes, such as episodic strikes in the entertainment industry, may have on our tenants' businesses; our ability to re-lease property at or above current market rates; reduced demand for office space, including as a result of remote working and flexible working arrangements that allow work from remote locations other than an employer's office premises; costs to comply with government regulations, including environmental remediation; the availability of cash for distribution and debt service, and exposure to risk of default under debt obligations; increases in interest rates and our ability to manage interest rate exposure; changes in interest rates and the availability of financing on attractive terms or at all, which may adversely impact our future interest expense and our ability to pursue development, redevelopment, and acquisition opportunities and refinance existing debt; a decline in real estate asset valuations, which may limit our ability to dispose of assets at attractive prices, or obtain or maintain debt financing, and which may result in write-offs or impairment charges; significant competition, which may decrease the occupancy and rental rates of properties; potential losses that may not be covered by insurance; the ability to successfully complete acquisitions and dispositions on announced terms; the ability to successfully operate acquired, developed, and redeveloped properties; the ability to successfully complete development and redevelopment projects on schedule and within budgeted amounts; delays or refusals in obtaining all necessary zoning, land use, and other required entitlements, governmental permits and authorizations for our development and redevelopment properties; increases in anticipated capital expenditures, tenant improvement, and/or leasing costs; defaults on leases for land on which some of our properties are located; adverse changes to, or enactment or implementations of, tax laws or other applicable laws, regulations, or legislation, as well as business and consumer reactions to such changes; risks associated with joint venture investments, including our lack of sole decision-making authority, our reliance on co-venturers' financial condition, and disputes between us and our co- venturers; environmental uncertainties and risks related to natural disasters; risks associated with climate change and our sustainability strategies, and our ability to achieve our sustainability goals; and our ability to maintain our status as a REIT. These factors are not exhaustive and additional factors could adversely affect our business and financial performance. For a discussion of additional factors that could materially adversely affect Kilroy Realty Corporation's business and financial performance, see the factors included under the caption "Risk Factors" in Kilroy Realty Corporation's annual report on Form 10-K for the year ended December 31, 2023, and its other filings with the Securities and Exchange Commission. All forward-looking statements are based on currently available information and speak only as of the dates on which they are made. Kilroy Realty Corporation assumes no obligation to update any forward-looking statement made in this Supplemental Financial Report that becomes untrue because of subsequent events, new information, or otherwise, except to the extent we are required to do so in connection with our ongoing requirements under federal securities laws.

Pictured on cover page, in order of appearance: Sunset Media Center, Hollywood, CA | One Paseo Office, San Diego, CA | 9514 Towne Centre Drive, San Diego, CA

01

Corporate Data and Financial Highlights

• Company Background
• Financial Highlights
• Consolidated Balance Sheets
• Consolidated Statements of Operations
• Funds From Operations and Funds Available for Distribution
• Net Operating Income

Q3 2024 Supplemental Financial Report

Company Background

Kilroy Realty Corporation (NYSE: KRC), a publicly traded real estate investment trust and member of the S&P MidCap 400 Index, is a leading U.S. landlord and developer, with operations in San Diego, Los Angeles, the San Francisco Bay Area, Seattle, and Austin. The Company has over seven decades of experience developing, acquiring and managing office, life science, and mixed-use real estate assets. At September 30, 2024, the Company's stabilized portfolio comprised of 123 buildings encompassing an aggregate of approximately 17.1 million square feet of primarily office and life science space that was 84.3% occupied and 85.8% leased. The Company also has 1,001 residential units in the Los Angeles and San Diego regions, which had an average occupancy of 92.0% for the quarter ended September 30, 2024.

Board of Directors			Executive and Senior Management Team		Investor Relations
Edward F. Brennan, PhD	Chair		Angela M. Aman	Chief Executive Officer		12200 W. Olympic Blvd., Suite 200
Angela M. Aman			Justin W. Smart	President		Los Angeles, CA 90064
Daryl J. Carter			Jeffrey R. Kuehling	EVP, Chief Financial Officer	[phone]
			Web: www.kilroyrealty.com
Jolie A. Hunt			John A. Osmond	EVP, Head of Asset Management		E-mail: [e-mail]
Scott S. Ingraham			A. Robert Paratte	EVP, Chief Leasing Officer
Louisa G. Ritter			Heidi R. Roth	EVP, Chief Administrative Officer
Gary R. Stevenson			Lauren N. Stadler	EVP, General Counsel and Secretary		J. Taylor Friend SVP, Capital Markets and Treasurer
Peter B. Stoneberg			Eliott L. Trencher	EVP, Chief Investment Officer
			Merryl E. Werber	SVP, Chief Accounting Officer and Controller

Equity Research Coverage

Barclays		Jefferies LLC
Brendan Lynch	[phone]	Peter Abramowitz	[phone]
BofA Securities		J.P. Morgan	[phone]
Jeffrey Spector	[phone]	Anthony Paolone
BMO Capital Markets Corp.		Keybanc Capital Markets
John P. Kim	[phone]	Upal Rana	[phone]
BTIG	[phone]	Mizuho Securities USA LLC	[phone]
Thomas Catherwood	Vikram Malhotra
Citigroup Investment Research	[phone]	RBC Capital Markets
Michael Griffin	Mike Carroll	[phone]
Deutsche Bank Securities, Inc.		Scotiabank
Omotayo Okusanya	[phone]	Nicholas Yulico	[phone]
Evercore ISI		Wells Fargo
Steve Sakwa	[phone]	Blaine Heck	[phone]
Goldman Sachs & Co. LLC		Wolfe Research
Caitlin Burrows	[phone]	Andrew Rosivach	[phone]
Green Street Advisors	[phone]
Dylan Burzinski

Kilroy Realty Corporation is followed by the analysts listed above. Please note that any opinions, estimates, or forecasts regarding Kilroy Realty Corporation's performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of Kilroy Realty Corporation or its management. Kilroy Realty Corporation does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.

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Q3 2024 Supplemental Financial Report

Financial Highlights

(unaudited, $ in thousands, except per share amounts)

						Three Months Ended
		9/30/2024			6/30/2024			3/31/2024			12/31/2023			9/30/2023
INCOME ITEMS:
Revenues	$	289,938	$	280,731	$	278,581		$	269,016	$	283,594
Capitalized Interest and Debt Costs		20,827			20,515			19,807			21,510			20,056
Cash Lease Termination Fees (1)		50			2,465			3,851			3,437			1,682
EARNINGS METRICS:
Net Income Available to Common Stockholders	$	52,378	$	49,211	$	49,920		$	47,284	$	52,762
Net Operating Income (2)		196,691			189,447			189,270			184,725			193,396
EBITDA, as adjusted (3)		185,960			178,461			182,602			171,387			173,798
Company's Share of EBITDA, as adjusted (3)		178,475			170,860			173,942			163,059			165,408
Company's Share of EBITDA, as adjusted less interest income (3)		168,787			160,776			160,752			152,363			158,393
Funds From Operations (4)		140,448			132,587			133,723			129,257			134,047
Funds Available for Distribution (4)		96,820			114,834			125,328			109,528			118,698
PER SHARE INFORMATION (5):
Net Income Available to Common Stockholders per common share - diluted	$	0.44	$	0.41	$	0.42		$	0.40	$	0.45
Funds From Operations per common share - diluted (4)		1.17			1.10			1.11			1.08			1.12
Dividends declared per common share		0.54			0.54			0.54			0.54			0.54
RATIOS (6):
Net Operating Income Margin (2)		67.8 %			67.5 %			67.9 %			68.7 %			68.2 %
Net Debt to Company's Share of EBITDA, as adjusted Ratio (3)(7)		6.4x			6.4x			6.3x		6.2x			6.1x
Net Debt to Company's Share of EBITDA, as adjusted less interest income Ratio (3)(7)		6.9x			6.8x			6.6x		6.5x			6.2x
Fixed Charge Coverage Ratio - Net Income		1.1x			1.0x			1.0x		1.0x			1.2x
Fixed Charge Coverage Ratio - EBITDA, as adjusted (3)		3.4x			3.3x			3.3x		3.4x			3.7x
Net Income Payout Ratio		111.6 %			117.3 %			114.9 %			120.5 %			108.8 %
FFO / FAD Payout Ratio (4)		45.8% / 66.5%			48.3% / 55.7%			47.9% / 51.1%			49.5% / 58.4%			47.7% / 53.9%
STABILIZED PORTFOLIO INFORMATION:
Change in Same Store Net Operating Income (8)		1.5 %			(5.7)%			(9.4)%			(10.6)%			(5.0)%
Change in Same Store Cash Net Operating Income (8)		2.7 %			0.2 %			(7.2)%			(1.2)%			0.2 %
Period End Occupancy Percentage		84.3 %			83.7 %			84.2 %			85.0 %			86.2 %
Period End Leased Percentage		85.8 %			85.4 %			85.7 %			86.4 %			87.5 %
Lease Composition (Net / Gross) (9)		51% / 49%			51% / 49%			51% / 49%			51% / 49%			49% / 51%

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Note: Definitions for commonly used terms in this Supplemental Financial Report are on pages 36-38 "Definitions Included in Supplemental." Refer to pages 32-34 for Management Statements on non-GAAP supplemental measures.

1. Represents cash receipts of lease termination fees in the period they are received, which may not correspond to the timing of GAAP revenue recognition of the lease termination fee over the remaining term of the lease.
2. Please refer to page 39 for a reconciliation of GAAP Net Income Available to Common Stockholders to Net Operating Income.
3. Please refer to page 41 for a reconciliation of GAAP Net Income Available to Common Stockholders to the Company's EBITDA metrics.
4. Please refer to page 6 for reconciliations of GAAP Net Income Available to Common Stockholders to Funds From Operations available to common stockholders and unitholders and Funds Available for Distribution to common stockholders and unitholders and page 42 for a reconciliation of GAAP Net Cash Provided by Operating Activities to Funds Available for Distribution to common stockholders and unitholders.
5. Reported amounts are attributable to common stockholders, common unitholders and restricted stock unitholders.
6. Ratios are calculated based on current quarter annualized amounts unless otherwise noted.
7. Calculated on a trailing-12 month basis. Please refer to page 30 for the calculation of this ratio.
8. Calculated as the change over the same prior year period. For all quarterly periods in 2024, the Same Store Portfolio was comprised of 119 properties. For all quarterly periods in 2023, the Same Store Portfolio was comprised of 115 properties.
9. Based upon annualized base rent, including 100% of consolidated property partnerships, as of the period end. Excludes leases at our three residential properties.

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Q3 2024 Supplemental Financial Report

Consolidated Balance Sheets

(unaudited, $	in thousands)
		9/30/2024			6/30/2024			3/31/2024			12/31/2023			9/30/2023
ASSETS:
Land and improvements	$	1,750,820	$	1,743,170	$	1,743,170	$	1,743,170	$	1,743,170
Buildings and improvements		8,573,332			8,501,976			8,479,359			8,463,674			8,431,499
Undeveloped land and construction in progress		2,254,628			2,207,180			2,114,242			2,034,804			1,950,424
Total real estate assets held for investment		12,578,780			12,452,326			12,336,771			12,241,648			12,125,093
Accumulated depreciation and amortization		(2,747,494)			(2,671,141)			(2,594,996)			(2,518,304)			(2,443,659)
Total real estate assets held for investment, net		9,831,286			9,781,185			9,741,775			9,723,344			9,681,434
Cash and cash equivalents		625,395			835,893			855,007			510,163			618,794
Marketable securities		27,144			32,648			109,513			284,670			278,789
Current receivables, net		11,218			10,229			13,291			13,609			11,383
Deferred rent receivables, net		455,613			458,177			457,494			460,979			466,073
Deferred leasing costs and acquisition-related intangible assets, net		226,991			220,485			226,506			229,705			228,742
Right of use ground lease assets		129,492			129,760			130,026			125,506			125,765
Prepaid expenses and other assets, net		73,495			75,379			65,588			53,069			60,141
TOTAL ASSETS	$	11,380,634		$	11,543,756		$	11,599,200		$	11,401,045		$	11,471,121
LIABILITIES AND EQUITY:
Liabilities:
Secured debt, net	$	599,478	$	600,741	$	601,990	$	603,225	$	604,480
Unsecured debt, net		4,401,678			4,519,796			4,518,297			4,325,153			4,330,326
Accounts payable, accrued expenses and other liabilities		354,785			361,759			401,892			371,179			426,662
Ground lease liabilities		128,606			128,787			128,966			124,353			124,517
Accrued dividends and distributions		64,844			65,118			65,111			64,440			64,423
Deferred revenue and acquisition-related intangible liabilities, net		151,670			160,284			166,436			173,638			178,542
Rents received in advance and tenant security deposits		71,033			73,013			73,777			79,364			74,646
Total liabilities		5,772,094			5,909,498			5,956,469			5,741,352			5,803,596
Equity:
Stockholders' Equity
Common stock		1,181			1,174			1,174			1,173			1,173
Additional paid-in capital		5,203,195			5,216,699			5,208,753			5,205,839			5,195,106
Retained earnings		175,962			187,796			203,080			221,149			237,665
Total stockholders' equity		5,380,338			5,405,669			5,413,007			5,428,161			5,433,944
Noncontrolling Interests
Common units of the Operating Partnership		52,441			52,985			53,087			53,275			53,328
Noncontrolling interests in consolidated property partnerships		175,761			175,604			176,637			178,257			180,253
Total noncontrolling interests		228,202			228,589			229,724			231,532			233,581
Total equity		5,608,540			5,634,258			5,642,731			5,659,693			5,667,525
TOTAL LIABILITIES AND EQUITY	$	11,380,634		$	11,543,756		$	11,599,200		$	11,401,045		$	11,471,121
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Q3 2024 Supplemental Financial Report

Consolidated Statements of Operations

(unaudited, $ and shares in thousands, except per share amounts)

					Three Months Ended								Nine Months Ended
		9/30/2024			6/30/2024			3/31/2024	12/31/2023			9/30/2023				9/30/2024			9/30/2023
REVENUES
Rental income	$	285,951	$	275,919	$	274,890	$	265,643	$	280,681		$	836,760	$	852,094
Other property income		3,987			4,812			3,691			3,373			2,913				12,490			8,584
Total revenues		289,938			280,731			278,581			269,016			283,594				849,250			860,678
EXPENSES
Property expenses		63,593			59,279			57,320			60,731			59,445				180,192			168,233
Real estate taxes		26,677			29,009			29,239			21,000			28,363				84,925			84,868
Ground leases		2,977			2,996			2,752			2,560			2,390				8,725			7,172
General and administrative expenses (1)		18,066			18,951			17,579			22,078			24,761				54,596			71,356
Leasing costs		2,353			2,119			2,279			1,956			1,852				6,751			4,550
Depreciation and amortization		91,879			87,151			88,031			86,016			85,224				267,061			269,262
Total expenses		205,545			199,505			197,200			194,341			202,035				602,250			605,441
OTHER INCOME (EXPENSES)
Interest income		9,688			10,084			13,190			10,696			7,015				32,962			11,896
Interest expense		(36,408)			(36,763)			(38,871)			(32,325)			(29,837)				(112,042)			(81,891)
Total other expenses		(26,720)			(26,679)			(25,681)			(21,629)			(22,822)				(79,080)			(69,995)
NET INCOME		57,673			54,547			55,700			53,046			58,737				167,920			185,242
Net income attributable to noncontrolling common units of the Operating		(509)			(458)			(502)			(471)			(515)				(1,469)			(1,612)
Partnership
Net income attributable to noncontrolling interests in consolidated		(4,786)			(4,878)			(5,278)			(5,291)			(5,460)				(14,942)			(18,673)
property partnerships
Total income attributable to noncontrolling interests		(5,295)			(5,336)			(5,780)			(5,762)			(5,975)				(16,411)			(20,285)
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS	$	52,378		$	49,211		$	49,920		$	47,284		$	52,762			$	151,509		$	164,957
Weighted average common shares outstanding - basic
	117,830			117,375			117,338			117,240			117,185				117,516			117,133
Weighted average common shares outstanding - diluted		118,244			117,663			117,961			117,816			117,495				117,955			117,411
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS PER SHARE
Net income available to common stockholders per share - basic	$	0.44	$	0.41	$	0.42	$	0.40	$	0.45		$	1.27	$	1.40
Net income available to common stockholders per share - diluted
$	0.44	$	0.41	$	0.42	$	0.40	$	0.45		$	1.27	$	1.40

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1. The three months ended December 31, 2023 and September 30, 2023 includes $4.9 million and $5.8 million, respectively, of retirement costs for our former CEO, primarily comprised of accelerated stock compensation expense. The nine months ended September 30, 2023 includes $12.1 million of retirement costs for our former CEO and former President, primarily comprised of accelerated stock compensation expense.

5