Consolidated Statements of Cash Flows (KILROY REALTY, L.P.) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
CASH FLOWS FROM OPERATING ACTIVITIES: | | |
Net income | $21,518 | $83,471 |
Adjustments to reconcile net income to net cash provided by operating activities (including discontinued operations): | | |
Depreciation and amortization of building and improvements and leasing costs | 148,982 | 122,754 |
Increase (decrease) in provision for bad debts | 196 | -192 |
Depreciation of furniture, fixtures and equipment | 1,363 | 896 |
Noncash amortization of share-based compensation awards | 6,454 | 5,544 |
Noncash amortization of deferred financing costs and debt discounts and premiums | 4,047 | 7,078 |
Noncash amortization of net below market rents (Note 3) | -6,015 | -4,616 |
Net gain on dispositions of discontinued operations (Note 12) | -423 | -72,809 |
Noncash amortization of deferred revenue related to tenant-funded tenant improvements | -7,585 | -6,851 |
Straight-line rents | -18,188 | -16,433 |
Net change in other operating assets | -6,435 | -2,529 |
Net change in other operating liabilities | 42,844 | 31,965 |
Insurance proceeds received for property damage | -448 | -951 |
Net cash provided by operating activities | 186,310 | 147,327 |
CASH FLOWS FROM INVESTING ACTIVITIES: | | |
Expenditures for acquisition of operating properties (Note 2) | -202,682 | -393,133 |
Expenditures for acquistion of development and redevelopment properties (Note 2) | 13,269 | 163,271 |
Expenditures for operating properties | -83,991 | -60,967 |
Expenditures for development and redevelopment properties and undeveloped land | -222,192 | -52,937 |
Net proceeds received from dispositions of operating properties | 14,409 | 141,810 |
Insurance proceeds received for property damage | 448 | 951 |
Increase in acquisition-related deposits | -4,000 | -8,250 |
Decrease (increase) in restricted cash (Note 1) | 229,613 | -5,526 |
Net cash used in investing activities | -281,664 | -541,323 |
CASH FLOWS FROM FINANCING ACTIVITIES: | | |
Net proceeds from issuance of Series G and Series H preferred stock | 0 | 192,411 |
Borrowings on unsecured line of credit | 10,000 | 418,000 |
Repayments on unsecured line of credit | -195,000 | -573,000 |
Proceeds from issuance of secured debt | 0 | 97,000 |
Principal payments on secured debt | -91,298 | -104,578 |
Proceeds from the issuance of unsecured debt (Note 5) | 299,901 | 150,000 |
Repayments of exchangeable senior notes | 0 | -148,000 |
Financing costs | -3,975 | -5,396 |
Repurchase of common stock and restricted stock units (Note 9) | -1,813 | -736 |
Proceeds from exercise of stock options | 128 | 129 |
Distributions paid to common unitholders | -82,152 | -70,517 |
Distributions paid to preferred unitholders | -9,938 | -10,852 |
Net cash provided by financing activities | 275,804 | 405,332 |
Net increase in cash and cash equivalents | 180,450 | 11,336 |
Cash and cash equivalents, beginning of period | 16,700 | 4,777 |
Cash and cash equivalents, end of period | 197,150 | 16,113 |
SUPPLEMENTAL CASH FLOWS INFORMATION: | | |
Cash paid for interest, net of capitalized interest of $23,573 and $11,531 as of September 30, 2013 and 2012, respectively | 47,107 | 49,378 |
NONCASH INVESTING TRANSACTIONS: | | |
Accrual for expenditures for operating properties and development and redevelopment properties | 79,866 | 8,299 |
Tenant improvements funded directly by tenants | 5,750 | 16,303 |
Assumption of secured debt in connection with property acquisitions (Notes 2 and 5) | 95,496 | 177,678 |
Assumption of other assets and liabilities in connection with operating and development property acquisitions, net (Note 2) | 422 | 11,667 |
Contribution of land, net of related liabilities, by noncontrolling interest to consolidated subsidiary (Note 2) | 4,885 | 0 |
NONCASH FINANCING TRANSACTIONS: | | |
Accrual of distributions payable to common unitholders | 29,378 | 26,782 |
Accrual of distributions payable to preferred unitholders | 1,692 | 1,693 |
Grant date fair value of share-based compensation awards (Note 9) | 10,347 | 30,929 |
Issuance of common units in the Operating Partnership in connection with an operating property acquisition | 4,885 | 5,604 |
Series A Preferred Units [Member] | | |
CASH FLOWS FROM FINANCING ACTIVITIES: | | |
Payments for Repurchase of Redeemable Preferred Stock | 0 | 75,000 |
Kilroy Realty, L.P. [Member] | | |
CASH FLOWS FROM OPERATING ACTIVITIES: | | |
Net income | 21,518 | 83,471 |
Adjustments to reconcile net income to net cash provided by operating activities (including discontinued operations): | | |
Depreciation and amortization of building and improvements and leasing costs | 148,982 | 122,754 |
Increase (decrease) in provision for bad debts | 196 | -192 |
Depreciation of furniture, fixtures and equipment | 1,363 | 896 |
Noncash amortization of share-based compensation awards | 6,454 | 5,544 |
Noncash amortization of deferred financing costs and debt discounts and premiums | 4,047 | 7,078 |
Noncash amortization of net below market rents (Note 3) | -6,015 | -4,616 |
Net gain on dispositions of discontinued operations (Note 12) | -423 | -72,809 |
Noncash amortization of deferred revenue related to tenant-funded tenant improvements | -7,585 | -6,851 |
Straight-line rents | -18,188 | -16,433 |
Net change in other operating assets | -6,435 | -2,529 |
Net change in other operating liabilities | 42,844 | 31,965 |
Insurance proceeds received for property damage | -448 | -951 |
Net cash provided by operating activities | 186,310 | 147,327 |
CASH FLOWS FROM INVESTING ACTIVITIES: | | |
Expenditures for acquisition of operating properties (Note 2) | -202,682 | -393,133 |
Expenditures for acquistion of development and redevelopment properties (Note 2) | 13,269 | 163,271 |
Expenditures for operating properties | -83,991 | -60,967 |
Expenditures for development and redevelopment properties and undeveloped land | -222,192 | -52,937 |
Net proceeds received from dispositions of operating properties | 14,409 | 141,810 |
Insurance proceeds received for property damage | 448 | 951 |
Increase in acquisition-related deposits | -4,000 | -8,250 |
Decrease (increase) in restricted cash (Note 1) | 229,613 | -5,526 |
Net cash used in investing activities | -281,664 | -541,323 |
CASH FLOWS FROM FINANCING ACTIVITIES: | | |
Net proceeds from issuance of common units (Note 8) | 349,951 | 662,371 |
Net proceeds from issuance of Series G and Series H preferred stock | 0 | 192,411 |
Borrowings on unsecured line of credit | 10,000 | 418,000 |
Repayments on unsecured line of credit | -195,000 | -573,000 |
Proceeds from issuance of secured debt | 0 | 97,000 |
Principal payments on secured debt | -91,298 | -104,578 |
Proceeds from the issuance of unsecured debt (Note 5) | 299,901 | 150,000 |
Repayments of exchangeable senior notes | 0 | -148,000 |
Financing costs | -3,975 | -5,396 |
Repurchase of common stock and restricted stock units (Note 9) | -1,813 | -736 |
Proceeds from exercise of stock options | 128 | 129 |
Distributions paid to common unitholders | -82,152 | -70,517 |
Distributions paid to preferred unitholders | -9,938 | -10,852 |
Net cash provided by financing activities | 275,804 | 405,332 |
Net increase in cash and cash equivalents | 180,450 | 11,336 |
Cash and cash equivalents, beginning of period | 16,700 | 4,777 |
Cash and cash equivalents, end of period | 197,150 | 16,113 |
SUPPLEMENTAL CASH FLOWS INFORMATION: | | |
Cash paid for interest, net of capitalized interest of $23,573 and $11,531 as of September 30, 2013 and 2012, respectively | 47,107 | 49,378 |
NONCASH INVESTING TRANSACTIONS: | | |
Accrual for expenditures for operating properties and development and redevelopment properties | 79,866 | 8,299 |
Tenant improvements funded directly by tenants | 5,750 | 16,303 |
Assumption of secured debt in connection with property acquisitions (Notes 2 and 5) | 95,496 | 177,678 |
Assumption of other assets and liabilities in connection with operating and development property acquisitions, net (Note 2) | 422 | 11,667 |
NONCASH FINANCING TRANSACTIONS: | | |
Accrual of distributions payable to common unitholders | 29,378 | 26,782 |
Accrual of distributions payable to preferred unitholders | 1,692 | 1,693 |
Grant date fair value of share-based compensation awards (Note 9) | 10,347 | 30,929 |
Issuance of common units in the Operating Partnership in connection with an operating property acquisition | 4,885 | 5,604 |
Kilroy Realty, L.P. [Member] | Series A Preferred Units [Member] | | |
CASH FLOWS FROM FINANCING ACTIVITIES: | | |
Payments for Repurchase of Redeemable Preferred Stock | 0 | |
Series E and Series F Cumulative Redeemable Preferred Stock [Member] | | |
CASH FLOWS FROM FINANCING ACTIVITIES: | | |
Payments for Repurchase of Redeemable Preferred Stock | 0 | -126,500 |
Series E and Series F Cumulative Redeemable Preferred Stock [Member] | Kilroy Realty, L.P. [Member] | | |
CASH FLOWS FROM FINANCING ACTIVITIES: | | |
Payments for Repurchase of Redeemable Preferred Stock | 0 | 126,500 |
Series A Preferred Units [Member] | Kilroy Realty, L.P. [Member] | | |
CASH FLOWS FROM FINANCING ACTIVITIES: | | |
Payments for Repurchase of Redeemable Preferred Stock | | $75,000 |