Kilroy Realty (KRC) 10-Q 28 Apr 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2022	Apr. 22, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	1-12675
Entity Registrant Name	KILROY REALTY CORPORATION
Entity Incorporation, State Code	MD
Entity Tax Identification Number	95-4598246
Entity Address, Address Line One	12200 W. Olympic Boulevard
Entity Address, Address Line Two	Suite 200
Entity Address, City or Town	Los Angeles
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90064
City Area Code	310
Local Phone Number	481-8400
Title of 12(b) Security	Common Stock, $.01 par value
Security Exchange Name	NYSE
Trading Symbol	KRC
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		116,716,080
Entity Central Index Key	0001025996
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false
Kilroy Realty L.P.
Entity Information [Line Items]
Entity File Number	000-54005
Entity Registrant Name	KILROY REALTY, L.P.
Entity Incorporation, State Code	DE
Entity Tax Identification Number	95-4612685
Title of 12(g) Security	Common Units Representing Limited Partnership Interests
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001493976
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
REAL ESTATE ASSETS (Note 2):
Land and improvements	$ 1,715,192	$ 1,731,982
Buildings and improvements	7,509,311	7,543,585
Undeveloped land and construction in progress	2,158,279	2,017,126
Total real estate assets held for investment	11,382,782	11,292,693
Accumulated depreciation and amortization	(2,034,193)	(2,003,656)
Total real estate assets held for investment, net	9,348,589	9,289,037
CASH AND CASH EQUIVALENTS	331,685	414,077
RESTRICTED CASH	13,007	13,006
MARKETABLE SECURITIES (Note 10)	25,829	27,475
CURRENT RECEIVABLES, NET	12,107	14,386
DEFERRED RENT RECEIVABLES, NET	420,895	405,665
DEFERRED LEASING COSTS AND ACQUISITION-RELATED INTANGIBLE ASSETS, NET	228,426	234,458
RIGHT OF USE GROUND LEASE ASSETS	126,946	127,302
PREPAID EXPENSES AND OTHER ASSETS, NET	57,338	57,991
TOTAL ASSETS	10,564,822	10,583,397
LIABILITIES:
Secured debt, net (Notes 3 and 10)	247,030	248,367
Unsecured debt, net (Notes 3 and 10)	3,821,433	3,820,383
Accounts payable, accrued expenses and other liabilities	391,920	391,264
Ground lease liabilities	125,414	125,550
Accrued dividends and distributions (Note 15)	61,951	61,850
Deferred revenue and acquisition-related intangible liabilities, net	171,121	171,151
Rents received in advance and tenant security deposits	80,192	74,962
Total liabilities	4,899,061	4,893,527
COMMITMENTS AND CONTINGENCIES (Note 9)
Stockholders’ Equity (Note 4):
Common stock, $.01 par value, 280,000,000 shares authorized, 116,716,080 and 116,464,169 shares issued and outstanding, respectively	1,167	1,165
Additional paid-in capital	5,149,968	5,155,232
Retained earnings	274,193	283,663
Total stockholders’ equity	5,425,328	5,440,060
Noncontrolling Interests (Notes 1 and 5):
Common units of the Operating Partnership	53,472	53,746
Noncontrolling interests in consolidated property partnerships	186,961	196,064
Total noncontrolling interests	240,433	249,810
Total equity	5,665,761	5,689,870
TOTAL LIABILITIES AND EQUITY (CAPITAL)	10,564,822	10,583,397
Kilroy Realty L.P.
REAL ESTATE ASSETS (Note 2):
Land and improvements	1,715,192	1,731,982
Buildings and improvements	7,509,311	7,543,585
Undeveloped land and construction in progress	2,158,279	2,017,126
Total real estate assets held for investment	11,382,782	11,292,693
Accumulated depreciation and amortization	(2,034,193)	(2,003,656)
Total real estate assets held for investment, net	9,348,589	9,289,037
CASH AND CASH EQUIVALENTS	331,685	414,077
RESTRICTED CASH	13,007	13,006
MARKETABLE SECURITIES (Note 10)	25,829	27,475
CURRENT RECEIVABLES, NET	12,107	14,386
DEFERRED RENT RECEIVABLES, NET	420,895	405,665
DEFERRED LEASING COSTS AND ACQUISITION-RELATED INTANGIBLE ASSETS, NET	228,426	234,458
RIGHT OF USE GROUND LEASE ASSETS	126,946	127,302
PREPAID EXPENSES AND OTHER ASSETS, NET	57,338	57,991
TOTAL ASSETS	10,564,822	10,583,397
LIABILITIES:
Secured debt, net (Notes 3 and 10)	247,030	248,367
Unsecured debt, net (Notes 3 and 10)	3,821,433	3,820,383
Accounts payable, accrued expenses and other liabilities	391,920	391,264
Ground lease liabilities	125,414	125,550
Accrued dividends and distributions (Note 15)	61,951	61,850
Deferred revenue and acquisition-related intangible liabilities, net	171,121	171,151
Rents received in advance and tenant security deposits	80,192	74,962
Total liabilities	4,899,061	4,893,527
COMMITMENTS AND CONTINGENCIES (Note 9)
Noncontrolling Interests (Notes 1 and 5):
Common units, 116,716,080 and 116,464,169 held by the general partner and 1,150,574 and 1,150,574 held by common limited partners issued and outstanding, respectively (Note 5)	5,478,800	5,493,806
Noncontrolling interests in consolidated property partnerships (Note 1)	186,961	196,064
Total capital	5,665,761	5,689,870
TOTAL LIABILITIES AND EQUITY (CAPITAL)	$ 10,564,822	$ 10,583,397

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	280,000,000	280,000,000
Common stock, shares issued (in shares)	116,716,080	116,464,169
Common stock, shares outstanding (in shares)	116,716,080	116,464,169
Common Units | Kilroy Realty L.P.
General partner, units issued (in shares)	116,716,080	116,464,169
General partners, units outstanding (in shares)	116,716,080	116,464,169
Limited partners, units issued (in shares)	1,150,574	1,150,574
Limited partners, units outstanding (in shares)	1,150,574	1,150,574

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue, Product and Service [Extensible List]	Service [Member]	Service [Member]
REVENUES
Rental income (Note 8)	$ 263,208	$ 234,656
Other property income	2,293	990
Total revenues	265,501	235,646
EXPENSES
Property expenses	45,424	38,859
Real estate taxes	25,870	25,266
Ground leases	1,826	1,828
General and administrative expenses (Note 7)	22,781	21,985
Leasing costs	1,013	692
Depreciation and amortization	88,660	75,932
Total expenses	185,574	164,562
OTHER INCOME (EXPENSES)
Interest and other income, net	81	1,373
Interest expense (Note 3)	(20,625)	(22,334)
Gain on sale of depreciable operating property	0	457,288
Total other (expenses) income	(20,544)	436,327
NET INCOME	59,383	507,411
Net income attributable to noncontrolling common units of the Operating Partnership	(516)	(4,886)
Net income attributable to noncontrolling interests in consolidated property partnerships	(5,739)	(4,894)
Total income attributable to noncontrolling interests	(6,255)	(9,780)
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS (UNITHOLDERS)	$ 53,128	$ 497,631
Net income available to common stockholders per share – basic (in dollars per share)	$ 0.45	$ 4.27
Net income available to common stockholders per share – diluted (in dollars per share)	$ 0.45	$ 4.26
Weighted average common shares outstanding – basic (in shares)	116,650,228	116,344,375
Weighted average common shares outstanding – diluted (in shares)	117,060,094	116,801,384
Kilroy Realty L.P.
Revenue, Product and Service [Extensible List]	Service [Member]	Service [Member]
REVENUES
Rental income (Note 8)	$ 263,208	$ 234,656
Other property income	2,293	990
Total revenues	265,501	235,646
EXPENSES
Property expenses	45,424	38,859
Real estate taxes	25,870	25,266
Ground leases	1,826	1,828
General and administrative expenses (Note 7)	22,781	21,985
Leasing costs	1,013	692
Depreciation and amortization	88,660	75,932
Total expenses	185,574	164,562
OTHER INCOME (EXPENSES)
Interest and other income, net	81	1,373
Interest expense (Note 3)	(20,625)	(22,334)
Gain on sale of depreciable operating property	0	457,288
Total other (expenses) income	(20,544)	436,327
NET INCOME	59,383	507,411
Total income attributable to noncontrolling interests	(5,739)	(4,894)
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS (UNITHOLDERS)	$ 53,644	$ 502,517
Net income available to common stockholders per share – basic (in dollars per share)	$ 0.45	$ 4.27
Net income available to common stockholders per share – diluted (in dollars per share)	$ 0.45	$ 4.26
Weighted average common shares outstanding – basic (in shares)	117,800,802	117,494,949
Weighted average common shares outstanding – diluted (in shares)	118,210,668	117,951,958

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	Total Stock- holders’ Equity	Common Stock	Additional Paid-in Capital	Retained Earnings (Distributions in Excess of Earnings)	Noncontrolling Interests
Beginning balance (in shares) at Dec. 31, 2020			116,035,827
Beginning balance at Dec. 31, 2020	$ 5,277,321	$ 5,029,943	$ 1,160	$ 5,131,916	$ (103,133)	$ 247,378
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	507,411	497,631			497,631	9,780
Issuance of share-based compensation awards	1,950	1,950		1,950
Non-cash amortization of share-based compensation (Note 7)	9,604	9,604		9,604
Settlement of restricted stock units for shares of common stock (in shares)			769,701
Settlement of restricted stock units for shares of common stock	0		$ 8	(8)
Repurchase of common stock and restricted stock units (in shares)			(355,158)
Repurchase of common stock and restricted stock units	(21,137)	(21,137)	$ (3)	(21,134)
Distributions to noncontrolling interests in consolidated property partnerships	(11,680)					(11,680)
Adjustment for noncontrolling interest	0	256		256		(256)
Dividends declared per common share and common unit	(60,577)	(60,002)			(60,002)	(575)
Ending balance (in shares) at Mar. 31, 2021			116,450,370
Ending balance at Mar. 31, 2021	$ 5,702,892	5,458,245	$ 1,165	5,122,584	334,496	244,647
Beginning balance (in shares) at Dec. 31, 2021	116,464,169		116,464,169
Beginning balance at Dec. 31, 2021	$ 5,689,870	5,440,060	$ 1,165	5,155,232	283,663	249,810
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	59,383	53,128			53,128	6,255
Issuance of share-based compensation awards	1,942	1,942		1,942
Non-cash amortization of share-based compensation (Note 7)	6,598	6,598		6,598
Settlement of restricted stock units for shares of common stock (in shares)			459,050
Settlement of restricted stock units for shares of common stock	0		$ 5	(5)
Repurchase of common stock and restricted stock units (in shares)			(207,139)
Repurchase of common stock and restricted stock units	(13,994)	(13,994)	$ (3)	(13,991)
Distributions to noncontrolling interests in consolidated property partnerships	(14,842)					(14,842)
Adjustment for noncontrolling interest	0	192		192		(192)
Dividends declared per common share and common unit	$ (63,196)	(62,598)			(62,598)	(598)
Ending balance (in shares) at Mar. 31, 2022	116,716,080		116,716,080
Ending balance at Mar. 31, 2022	$ 5,665,761	$ 5,425,328	$ 1,167	$ 5,149,968	$ 274,193	$ 240,433

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share and common unit (in dollars per share)	$ 0.52	$ 0.500

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 59,383	$ 507,411
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of real estate assets and leasing costs	87,001	74,431
Depreciation of non-real estate furniture, fixtures and equipment	1,659	1,501
Revenue (recoveries) reversals for doubtful accounts, net (Note 8)	(1,311)	1,035
Non-cash amortization of share-based compensation awards	5,256	7,877
Non-cash amortization of deferred financing costs and debt discounts	821	794
Non-cash amortization of net below market rents	(2,892)	(1,181)
Gain on sale of depreciable operating property	0	(457,288)
Non-cash amortization of deferred revenue related to tenant-funded tenant improvements	(4,261)	(4,204)
Straight-line rents	(13,847)	(17,292)
Amortization of right of use ground lease assets	356	211
Net change in other operating assets	2,657	1,710
Net change in other operating liabilities	43,837	29,147
Net cash provided by operating activities	178,659	144,152
CASH FLOWS FROM INVESTING ACTIVITIES:
Expenditures for acquisitions of development properties and undeveloped land (Note 2)	(40,033)	0
Expenditures for development and redevelopment properties and undeveloped land	(112,314)	(172,325)
Expenditures for operating properties and other capital assets	(17,027)	(28,242)
Net proceeds received from disposition	0	1,012,817
Net cash (used in) provided by investing activities	(169,374)	812,250
CASH FLOWS FROM FINANCING ACTIVITIES:
Financing costs	(318)	(235)
Repurchase of common stock and restricted stock units	(13,994)	(21,137)
Distributions to noncontrolling interests in consolidated property partnerships	(14,834)	(11,672)
Dividends and distributions paid to common stockholders and common unitholders	(61,161)	(58,594)
Principal payments and repayments of secured debt	(1,369)	(1,316)
Net cash used in financing activities	(91,676)	(92,954)
Net (decrease) increase in cash and cash equivalents and restricted cash	(82,391)	863,448
Cash and cash equivalents and restricted cash, beginning of period	427,083	823,130
Cash and cash equivalents and restricted cash, end of period	344,692	1,686,578
Kilroy Realty L.P.
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	59,383	507,411
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of real estate assets and leasing costs	87,001	74,431
Depreciation of non-real estate furniture, fixtures and equipment	1,659	1,501
Revenue (recoveries) reversals for doubtful accounts, net (Note 8)	(1,311)	1,035
Non-cash amortization of share-based compensation awards	5,256	7,877
Non-cash amortization of deferred financing costs and debt discounts	821	794
Non-cash amortization of net below market rents	(2,892)	(1,181)
Gain on sale of depreciable operating property	0	(457,288)
Non-cash amortization of deferred revenue related to tenant-funded tenant improvements	(4,261)	(4,204)
Straight-line rents	(13,847)	(17,292)
Amortization of right of use ground lease assets	356	211
Net change in other operating assets	2,657	1,710
Net change in other operating liabilities	43,837	29,147
Net cash provided by operating activities	178,659	144,152
CASH FLOWS FROM INVESTING ACTIVITIES:
Expenditures for acquisitions of development properties and undeveloped land (Note 2)	(40,033)	0
Expenditures for development and redevelopment properties and undeveloped land	(112,314)	(172,325)
Expenditures for operating properties and other capital assets	(17,027)	(28,242)
Net proceeds received from disposition	0	1,012,817
Net cash (used in) provided by investing activities	(169,374)	812,250
CASH FLOWS FROM FINANCING ACTIVITIES:
Financing costs	(318)	(235)
Repurchase of common stock and restricted stock units	(13,994)	(21,137)
Distributions to noncontrolling interests in consolidated property partnerships	(14,834)	(11,672)
Dividends and distributions paid to common stockholders and common unitholders	(61,161)	(58,594)
Principal payments and repayments of secured debt	(1,369)	(1,316)
Net cash used in financing activities	(91,676)	(92,954)
Net (decrease) increase in cash and cash equivalents and restricted cash	(82,391)	863,448
Cash and cash equivalents and restricted cash, beginning of period	427,083	823,130
Cash and cash equivalents and restricted cash, end of period	$ 344,692	$ 1,686,578

CONSOLIDATED STATEMENTS OF CAPI

CONSOLIDATED STATEMENTS OF CAPITAL (KILROY REALTY, L.P.) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income	$ 59,383	$ 507,411
Non-cash amortization of share-based compensation (Note 7)	6,598	9,604
Distributions to noncontrolling interests in consolidated property partnerships	(14,842)	(11,680)
Kilroy Realty L.P.
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	5,689,870	5,277,321
Net income	59,383	507,411
Issuance of share-based compensation awards	1,942	1,950
Non-cash amortization of share-based compensation (Note 7)	6,598	9,604
Repurchase of common units and restricted stock units	(13,994)	(21,137)
Distributions to noncontrolling interests in consolidated property partnerships	(14,842)	(11,680)
Distributions declared per common unit	(63,196)	(60,577)
Ending balance	$ 5,665,761	$ 5,702,892
Partners’ Capital | Kilroy Realty L.P.
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance (in shares)	117,614,743	117,186,401
Beginning balance	$ 5,493,806	$ 5,079,818
Net income	53,644	502,517
Issuance of share-based compensation awards	1,942	1,950
Non-cash amortization of share-based compensation (Note 7)	$ 6,598	$ 9,604
Settlement of restricted stock units (in shares)	459,050	769,701
Repurchase of common units, stock options and restricted stock units (in shares)	(207,139)	(355,158)
Repurchase of common units and restricted stock units	$ (13,994)	$ (21,137)
Distributions declared per common unit	$ (63,196)	$ (60,577)
Ending balance (in shares)	117,866,654	117,600,944
Ending balance	$ 5,478,800	$ 5,512,175
Noncontrolling Interests in Consolidated Property Partnerships
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income	6,255	9,780
Distributions to noncontrolling interests in consolidated property partnerships	(14,842)	(11,680)
Noncontrolling Interests in Consolidated Property Partnerships | Kilroy Realty L.P.
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	196,064	197,503
Net income	5,739	4,894
Distributions to noncontrolling interests in consolidated property partnerships	(14,842)	(11,680)
Ending balance	$ 186,961	$ 190,717

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CAPITAL (KILROY REALTY, L.P.) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Kilroy Realty L.P.
Dividends declared per common unit (in dollars per unit)	$ 0.52	$ 0.500

Organization, Ownership and Bas

Organization, Ownership and Basis of Presentation	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Ownership and Basis of Presentation	Organization, Ownership and Basis of Presentation Organization and Ownership Kilroy Realty Corporation (the “Company”) is a self-administered real estate investment trust (“REIT”) active in premier office, life science and mixed-use submarkets in the United States. We own, develop, acquire and manage real estate assets, consisting primarily of Class A properties in Greater Los Angeles, San Diego County, the San Francisco Bay Area, Greater Seattle and Austin, Texas, which we believe have strategic advantages and strong barriers to entry. Class A real estate encompasses attractive and efficient buildings of high quality that are attractive to tenants, are well-designed and constructed with above-average material, workmanship and finishes and are well-maintained and managed. We qualify as a REIT under the Internal Revenue Code of 1986, as amended (the “Code”). The Company’s common stock is publicly traded on the New York Stock Exchange (“NYSE”) under the ticker symbol “KRC.” We own our interests in all of our real estate assets through Kilroy Realty, L.P. (the “Operating Partnership”). We generally conduct substantially all of our operations through the Operating Partnership. Unless stated otherwise or the context indicates otherwise, the terms “Kilroy Realty Corporation” or the “Company,” “we,” “our,” and “us” refer to Kilroy Realty Corporation and its consolidated subsidiaries and the term “Operating Partnership” refers to Kilroy Realty, L.P. and its consolidated subsidiaries. The descriptions of our business, employees, and properties apply to both the Company and the Operating Partnership. Our stabilized portfolio of operating properties was comprised of the following properties at March 31, 2022: Number of Rentable Number of Percentage Occupied (1) Percentage Leased Stabilized Office Properties (2) 118 15,221,912 415 91.3 % 93.1 % ________________________ (1) Represents economic occupancy. (2) Includes stabilized life science and retail space. Number of Number of 2022 Average Occupancy Stabilized Residential Properties 3 1,001 93.7 % Our stabilized portfolio includes all of our properties with the exception of development properties currently committed for construction, under construction, or in the tenant improvement phase, redevelopment properties under construction, undeveloped land and real estate assets held for sale. We define redevelopment properties as those properties for which we expect to spend significant development and construction costs on the existing or acquired buildings pursuant to a formal plan, the intended result of which is a higher economic return on the property. We define properties in the tenant improvement phase as office and life science properties that we are developing or redeveloping where the project has reached cold shell condition and is ready for tenant improvements, which may require additional major base building construction before being placed in service. Projects in the tenant improvement phase are added to our stabilized portfolio once the project reaches the earlier of 95% occupancy or one year from the date of the cessation of major base building construction activities. Costs capitalized to construction in progress for development and redevelopment properties are transferred to land and improvements, buildings and improvements, and deferred leasing costs on our consolidated balance sheets at the historical cost of the property as the projects or phases of projects are placed in service. As of March 31, 2022, the following properties were excluded from our stabilized portfolio. We did not have any properties held for sale at March 31, 2022. Number of Estimated Rentable Square Feet (1) In-process development projects - tenant improvement 3 1,604,000 In-process development projects - under construction 2 946,000 In-process redevelopment projects - under construction 3 330,000 ________________________ (1) Estimated rentable square feet upon completion. Our stabilized portfolio also excludes our future development pipeline, which as of March 31, 2022 was comprised of seven future development sites, representing approximately 62 gross acres of undeveloped land. As of March 31, 2022, all of our properties, development projects and redevelopment projects were owned and all of our business was conducted in the state of California with the exception of nine stabilized office properties, one development project in the tenant improvement phase and one future development project located in the state of Washington, and one development project in the tenant improvement phase and one future development project in Austin, Texas. All of our properties, development projects and redevelopment projects are 100% owned, excluding four office properties owned by three consolidated property partnerships. Two of the three consolidated property partnerships, 100 First Street Member, LLC (“100 First LLC”) and 303 Second Street Member, LLC (“303 Second LLC”), each owned one office property in San Francisco, California through subsidiary REITs. As of March 31, 2022, the Company owned a 56% common equity interest in both 100 First LLC and 303 Second LLC. The third consolidated property partnership, Redwood City Partners, LLC (“Redwood LLC”) owned two office properties in Redwood City, California. As of March 31, 2022, the Company owned an approximate 93% common equity interest in Redwood LLC. The remaining interests in all three property partnerships were owned by unrelated third parties. Ownership and Basis of Presentation The consolidated financial statements of the Company include the consolidated financial position and results of operations of the Company, the Operating Partnership, 303 Second LLC, 100 First LLC, Redwood LLC and all of our wholly-owned and controlled subsidiaries. The consolidated financial statements of the Operating Partnership include the consolidated financial position and results of operations of the Operating Partnership, 303 Second LLC, 100 First LLC, Redwood LLC and all of our wholly-owned and controlled subsidiaries. All intercompany balances and transactions have been eliminated in the consolidated financial statements. As of March 31, 2022, the Company owned an approximate 99.0% common general partnership interest in the Operating Partnership. The remaining approximate 1.0% common limited partnership interest in the Operating Partnership as of March 31, 2022 was owned by non-affiliated investors and certain of our executive officers and directors. Both the general and limited common partnership interests in the Operating Partnership are denominated in common units. Generally, the number of common units held by the Company is equivalent to the number of outstanding shares of the Company’s common stock, and the rights of all the common units to quarterly distributions and payments in liquidation mirror those of the Company’s common stockholders. The common limited partners have certain redemption rights as provided in the Operating Partnership’s Seventh Amended and Restated Agreement of Limited Partnership, as amended, the “Partnership Agreement”. With the exception of the Operating Partnership and our consolidated property partnerships, all of our subsidiaries are wholly-owned. The accompanying interim financial statements have been prepared by management in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and in conjunction with the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures required for annual financial statements have been condensed or excluded pursuant to SEC rules and regulations. Accordingly, the interim financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the accompanying interim financial statements reflect all adjustments of a normal and recurring nature that are considered necessary for a fair presentation of the results for the interim periods presented. However, the results of operations for the interim periods are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. The interim financial statements for the Company and the Operating Partnership should be read in conjunction with the audited consolidated financial statements and notes thereto included in our annual report on Form 10-K for the year ended December 31, 2021. Variable Interest Entities The Operating Partnership is a variable interest entity (“VIE”) that is consolidated by the Company as the primary beneficiary as the Operating Partnership is a limited partnership in which the common limited partners do not have substantive kick-out or participating rights. At March 31, 2022, the consolidated financial statements of the Company included three VIEs in addition to the Operating Partnership: 100 First LLC, 303 Second LLC and one entity established during the first quarter of 2022 to facilitate potential future Section 1031 Exchanges. At March 31, 2022, the Company and the Operating Partnership were determined to be the primary beneficiaries of these three VIEs since we had the ability to control the activities that most significantly impact each of the VIEs’ economic performance. As of March 31, 2022, the three VIEs’ total assets, liabilities and noncontrolling interests included on our consolidated balance sheet were approximately $483.5 million (of which $413.2 million related to real estate held for investment), approximately $29.8 million and approximately $181.7 million, respectively. Revenues, income and net assets generated by 100 First LLC and 303 Second LLC may only be used to settle their contractual obligations, which primarily consist of operating expenses, capital expenditures and required distributions. At December 31, 2021, the consolidated financial statements of the Company included two VIEs in addition to the Operating Partnership: 100 First LLC and 303 Second LLC. At December 31, 2021, the Company and the Operating Partnership were determined to be the primary beneficiaries of these two VIEs since we had the ability to control the activities that most significantly impact each of the VIEs’ economic performance. At December 31, 2021, the impact of consolidating the VIEs increased the Company’s total assets, liabilities and noncontrolling interests on our consolidated balance sheet by approximately $462.3 million (of which $377.9 million related to real estate held for investment), approximately $28.1 million and approximately $190.7 million, respectively.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions Development Project Acquisitions During the three months ended March 31, 2022, we acquired the following development site from an unrelated third party. Property Date of Acquisition Submarket Purchase Price (in millions) (1) 10615 Burnet Road, Austin, TX March 9, 2022 Stadium District / Domain $ 40.0 ________________________

Secured and Unsecured Debt of t

Secured and Unsecured Debt of the Operating Partnership	3 Months Ended
	Mar. 31, 2022
Kilroy Realty L.P.
Debt Instrument [Line Items]
Secured and Unsecured Debt of the Operating Partnership	Secured and Unsecured Debt of the Operating Partnership The Company generally guarantees all of the Operating Partnership’s unsecured debt obligations including the unsecured revolving credit facility and all of the unsecured senior notes. Unsecured Revolving Credit Facility The following table summarizes the balance and terms of our unsecured revolving credit facility as of March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 (in thousands) Outstanding borrowings $ — $ — Remaining borrowing capacity 1,100,000 1,100,000 Total borrowing capacity (1) $ 1,100,000 $ 1,100,000 Interest rate (2) 1.35 % 1.00 % Facility fee-annual rate (3) 0.200% Maturity date July 2025 ________________________ (1) We may elect to borrow, subject to bank approval and obtaining commitments for any additional borrowing capacity, up to an additional $500.0 million under an accordion feature under the terms of the unsecured revolving credit facility. (2) Our unsecured revolving credit facility interest rate was calculated based on the contractual rate of LIBOR plus 0.900% as of March 31, 2022 and December 31, 2021. (3) Our facility fee is paid on a quarterly basis and is calculated based on the total borrowing capacity. In addition to the facility fee, we incurred debt origination and legal costs. As of March 31, 2022 and December 31, 2021, $6.8 million and $7.3 million of unamortized deferred financing costs, respectively, which are included in prepaid expenses and other assets, net on our consolidated balance sheets, remained to be amortized through the respective maturity dates presented of our unsecured revolving credit facility. The Company intends to borrow under the unsecured revolving credit facility from time to time for general corporate purposes, to finance development and redevelopment expenditures, to fund potential acquisitions and to potentially repay long-term debt and to supplement cash balances given uncertainties and volatility in market conditions. Debt Covenants and Restrictions The unsecured revolving credit facility, the unsecured senior notes, including the private placement notes, and certain other secured debt arrangements contain covenants and restrictions requiring us to meet certain financial ratios and reporting requirements. Some of the more restrictive financial covenants include a maximum ratio of total debt to total asset value, a minimum fixed-charge coverage ratio, a minimum unsecured debt ratio and a minimum unencumbered asset pool debt service coverage ratio. Noncompliance with one or more of the covenants and restrictions could result in the full principal balance of the associated debt becoming immediately due and payable. We believe we were in compliance with all of our debt covenants as of March 31, 2022. Debt Maturities The following table summarizes the stated debt maturities and scheduled amortization payments for all outstanding debt as of March 31, 2022: Year (in thousands) Remaining 2022 $ 4,186 2023 5,775 2024 431,006 2025 406,246 2026 401,317 2027 249,125 Thereafter 2,600,000 Total aggregate principal value (1) $ 4,097,655 ________________________ (1) Includes gross principal balance of outstanding debt before the effect of the following at March 31, 2022: $22.0 million of unamortized deferred financing costs for the unsecured senior notes and secured debt and $7.1 million of unamortized discounts for the unsecured senior notes. Capitalized Interest and Loan Fees The following table sets forth gross interest expense, including debt discount and deferred financing cost amortization, net of capitalized interest, for the three months ended March 31, 2022 and 2021. The interest expense capitalized was recorded as a cost of development and redevelopment and increased the carrying value of undeveloped land and construction in progress. Three Months Ended March 31, 2022 2021 (in thousands) Gross interest expense $ 39,723 $ 39,242 Capitalized interest and deferred financing costs (19,098) (16,908) Interest expense $ 20,625 $ 22,334

Stockholders' Equity of the Com

Stockholders' Equity of the Company	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Stockholders' Equity of the Company	Stockholders’ Equity of the Company At-The-Market Stock Offering Program Under our at-the-market stock offering program, which commenced in June 2018, we may offer and sell shares of our common stock having an aggregate gross sales price up to $500.0 million from time to time in “at-the-market” offerings. In connection with our at-the-market program, the Company may enter into forward equity sale agreements with certain financial institutions acting as forward purchasers whereby, at our discretion, the forward purchasers may borrow and sell shares of our common stock under our at-the-market program. The use of a forward equity sale agreement allows the Company to lock in a share price on the sale of shares of our common stock at the time the agreement is executed but defer settling the forward equity sale agreements and receiving the proceeds from the sale of shares until a later date. The Company did not have any outstanding forward equity sale agreements to be settled at March 31, 2022. Since commencement of our current at-the-market program, we have completed sales of 3,594,576 shares of common stock through March 31, 2022. As of March 31, 2022, we may offer and sell shares of our common stock having an aggregate gross sales price up to approximately $214.2 million under our current at-the-market program. The Company did not complete any sales of common stock under the program during the three months ended March 31, 2022.

Noncontrolling Interests on the

Noncontrolling Interests on the Company's Consolidated Financial Statements	3 Months Ended
	Mar. 31, 2022
Noncontrolling Interest [Abstract]
Noncontrolling Interests on the Company's Consolidated Financial Statements	Noncontrolling Interests on the Company’s Consolidated Financial Statements Common Units of the Operating Partnership The Company owned an approximate 99.0% common general partnership interest in the Operating Partnership as of March 31, 2022, December 31, 2021 and March 31, 2021. The remaining approximate 1.0% common limited partnership interest as of March 31, 2022, December 31, 2021 and March 31, 2021 was owned by non-affiliated investors and certain of our executive officers and directors in the form of noncontrolling common units. There were 1,150,574 common units outstanding held by these investors, executive officers and directors as of March 31, 2022, December 31, 2021 and March 31, 2021. The noncontrolling common units may be redeemed by unitholders for cash. Except under certain circumstances, we, at our option, may satisfy the cash redemption obligation with shares of the Company’s common stock on a one-for-one basis. If satisfied in cash, the value for each noncontrolling common unit upon redemption is the amount equal to the average of the closing quoted price per share of the Company’s common stock, par value $.01 per share, as reported on the NYSE for the ten trading days immediately preceding the applicable redemption date. The aggregate value upon redemption of the then-outstanding noncontrolling common units was $87.7 million

Partners' Capital of the Operat

Partners' Capital of the Operating Partnership	3 Months Ended
	Mar. 31, 2022
Partners' Capital Notes [Abstract]
Partners’ Capital of the Operating Partnership	Partners’ Capital of the Operating Partnership Common Units Outstanding The following table sets forth the number of common units held by the Company and the number of common units held by non-affiliated investors and certain of our executive officers and directors in the form of noncontrolling common units as well as the ownership interest held on each respective date: March 31, 2022 December 31, 2021 March 31, 2021 Company owned common units in the Operating Partnership 116,716,080 116,464,169 116,450,370 Company owned general partnership interest 99.0 % 99.0 % 99.0 % Noncontrolling common units of the Operating Partnership 1,150,574 1,150,574 1,150,574 Ownership interest of noncontrolling interest 1.0 % 1.0 % 1.0 % For further discussion of the noncontrolling common units as of March 31, 2022 and December 31, 2021, refer to Note 5 “Noncontrolling Interests on the Company’s Consolidated Financial Statements.”

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation Stockholder Approved Share-Based Incentive Compensation Plan As of March 31, 2022, we maintained one share-based incentive compensation plan, the Kilroy Realty 2006 Incentive Award Plan, as amended (the “2006 Plan”). The Company has a currently effective registration statement registering 10.7 million shares of our common stock for possible issuance under our 2006 Plan. As of March 31, 2022, approximately 1.0 million shares were available for grant under the 2006 Plan. The calculation of shares available for grant is presented after taking into account a reserve for a sufficient number of shares to cover the vesting and payment of 2006 Plan awards that were outstanding on that date, including performance-based vesting awards at (i) levels actually achieved for the performance conditions (as defined below) for which the performance period has been completed and (ii) at maximum levels for the other performance and market conditions (as defined below) for awards still in a performance period. 2022 Share-Based Compensation Grants In January 2022, the Executive Compensation Committee of the Company’s Board of Directors awarded 351,281 restricted stock units (“RSUs”) to certain officers of the Company under the 2006 Plan, which included 193,111 RSUs (at the target level of performance) that are subject to market and/or performance-based vesting requirements (the “2022 Performance-Based RSUs”) and 158,170 RSUs that are subject to time-based vesting requirements (the “2022 Time-Based RSUs”). 2022 Performance-Based RSU Grant The 2022 Performance-Based RSUs are scheduled to vest at the end of a three year period (consisting of calendar years 2022-2024). A target number of 2022 Performance-Based RSUs were awarded, and the final number of 2022 Performance-Based RSUs that vest (which may be more or less than the target number) will be based upon (1) during the first calendar year of the three year performance measurement period, the achievement of pre-set FFO per share goals that applies to 100% of the Performance-Based RSUs awarded (the “FFO Performance Condition”) and (2) a performance measure that applies to 50% of the award based upon a measure of the Company’s average debt to EBITDA ratio for the three year performance period (the “Debt to EBITDA Ratio Performance Condition”) and a market measure that applies to the other 50% of the award based upon the relative ranking of the Company’s total stockholder return for the three year performance period compared to the total stockholder returns of an established comparison group of companies over the same period (the “Market Condition”). The 2022 Performance-Based RSUs are also subject to a three year service vesting provision (the “service vesting condition”) and are scheduled to cliff vest on the date the final vesting percentage is determined following the end of the three year performance period under the awards. The number of 2022 Performance-Based RSUs ultimately earned could fluctuate from the target number of 2022 Performance-Based RSUs granted based upon the levels of achievement for the FFO Performance Condition, the Debt to EBITDA Ratio Performance Condition, the Market Condition, and the extent to which the service vesting condition is satisfied. The estimate of the number of 2022 Performance-Based RSUs earned is evaluated quarterly during the performance period based on our estimate for each of the performance conditions measured against the applicable goals. During the three months ended March 31, 2022, we recognized $1.1 million of compensation expense for the 2022 Performance-Based RSU grant. In the event we achieve a lower level of performance or fail to meet the FFO performance condition, we would reverse a portion or all of the $1.1 million of compensation expense. Compensation expense for the 2022 Performance-Based RSU grant is recognized on a straight-line basis over the requisite service period for each participant, which is generally the three year service period, except for one participant whose compensation expense is recognized on an accelerated basis, due to clauses that render a portion of the vesting conditions to be non-substantive. Each 2022 Performance-Based RSU represents the right to receive one share of our common stock in the future, subject to, and as modified by the Company’s level of achievement of the FFO Performance, the Debt to EBITDA Ratio Performance Condition and the Market Condition. The fair value of the award was calculated using a Monte Carlo simulation pricing model based on the assumptions in the table below, which resulted in the following grant date fair value per share. Fair Value Assumptions Valuation date January 28, 2022 Fair value on valuation date (in millions) $12.7 Fair value per share on valuation date (1) $67.62 Expected share price volatility 36.0% Risk-free interest rate 1.35% ________________________ (1) For one participant, the fair value per share on the valuation date for their 2022 Performance-Based RSUs is $70.00. The computation of expected volatility was based on a blend of the historical volatility of our shares of common stock over a period of twice the remaining performance period as of the grant date and implied volatility data based on the observed pricing of six month publicly-traded options on shares of our common stock. The risk-free interest rate was based on the yield curve on zero-coupon U.S. Treasury STRIP securities in effect at January 28, 2022. For the three months ended March 31, 2022, we recorded compensation expense based upon the grant date fair value per share for each component multiplied by the estimated number of RSUs to be earned. 2022 Time-Based RSU Grant The 2022 Time-Based RSUs are scheduled to vest in three equal annual installments beginning on January 5, 2023 through January 5, 2025. Compensation expense for the 2022 Time-Based RSUs is recognized on a straight-line basis over the requisite service period, which is generally the explicit service period except for one participant whose compensation expense is recognized on an accelerated basis, due to clauses that render a portion of the vesting conditions to be non-substantive. Each 2022 Time-Based RSU represents the right to receive one share of our common stock in the future, subject to continued employment through the applicable vesting date, unless accelerated upon separation of employment, provided certain conditions are met. The total grant date fair value of the 2022 Time-Based RSU awards was $10.0 million, which was based on the $63.05 closing share price of the Company’s common stock on the NYSE on the January 28, 2022 grant date. 2021 and 2020 Performance-Based RSUs Compensation cost for the 2021 performance-based RSUs for the three months ended March 31, 2022 assumes the 2021 debt to EBITDA ratio performance condition is met at 100% of the target level of achievement for all participants. Compensation cost for the 2020 performance-based RSUs for the three months ended March 31, 2022 assumes the 2020 debt to EBITDA ratio performance condition is met at 150% of the target level of achievement (175.0% for one participant). Share-Based Compensation Cost Recorded During the Period The total compensation cost for all share-based compensation programs was $6.6 million and $9.6 million for the three months ended March 31, 2022 and 2021, respectively. Of the total share-based compensation costs, $1.3 million and $1.7 million was capitalized as part of the real estate assets for the three months ended March 31, 2022 and 2021, respectively. As of March 31, 2022, there was approximately $38.2 million of total unrecognized compensation cost related to nonvested incentive awards granted under share-based compensation arrangements that is expected to be recognized over a weighted-average period of 2.1 years. The remaining compensation cost related to these nonvested incentive awards had been recognized in periods prior to March 31, 2022.

Rental Income and Future Minimu

Rental Income and Future Minimum Rent	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Rental Income and Future Minimum Rent	Rental Income and Future Minimum Rent Our rental income is primarily comprised of payments defined under leases and are either subject to scheduled fixed increases or adjustments in rent based on the Consumer Price Index. Additionally, rental income includes variable payments for tenant reimbursements of property-related expenses and payments based on a percentage of tenant’s sales. The table below sets forth the allocation of rental income between fixed and variable payments and collectability recoveries (reversals) for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, 2022 2021 (in thousands) Fixed lease payments $ 224,816 $ 204,216 Variable lease payments 37,081 31,475 Net collectability recoveries (reversals) (1) 1,311 (1,035) Total rental income $ 263,208 $ 234,656 _____________________ (1) Represents adjustments to rental income related to our assessment of the collectability of amounts due under leases with our tenants, including recognition of deferred rent balances associated with tenants restored from a cash basis of revenue recognition to an accrual basis to revenue recognition and allowances for uncollectible receivables and leases deemed not probable of collection. We have operating leases with tenants that expire at various dates through 2044 and are either subject to scheduled fixed increases or adjustments in rent based on the Consumer Price Index. Generally, the leases grant tenants renewal options. Leases also provide for additional rents based on certain operating expenses. Future contractual minimum rent under operating leases, which includes amounts contractually due from leases that are on a cash basis of reporting due to creditworthiness considerations, as of March 31, 2022 for future periods is summarized as follows: Year Ending (in thousands) Remaining 2022 $ 602,820 2023 814,598 2024 779,984 2025 741,031 2026 687,467 2027 626,861 Thereafter 2,291,039 Total (1) $ 6,543,800 _____________________ (1) Excludes residential leases and leases with a term of one year or less.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies General As of March 31, 2022, we had commitments of approximately $819.0 million, excluding our ground lease commitments, for contracts and executed leases directly related to our operating, development and redevelopment properties. Environmental Matters We follow the policy of evaluating all of our properties, including acquisition, development and existing stabilized portfolio properties, for the presence of hazardous or toxic substances. While there can be no assurance that a material environmental liability does not exist, we are not currently aware of any undisclosed environmental liability with respect to our stabilized portfolio properties that would have a material adverse effect on our financial condition, results of operations and cash flow, or that we believe would require additional disclosure or the recording of a loss contingency. As of March 31, 2022, we had accrued environmental remediation liabilities of approximately $74.3 million recorded on our consolidated balance sheets in connection with certain of our in-process and future development projects. The accrued environmental remediation liabilities represent the remaining costs we estimate we will incur prior to and during the development process at various development acquisition sites. These estimates, which we developed with the assistance of third party experts, consist primarily of the removal of contaminated soil, treatment of contaminated groundwater in connection with dewatering efforts, performing environmental closure activities, constructing remedial systems and other related costs that are necessary when we develop new buildings at these sites. We record estimated environmental remediation obligations for acquired properties at the acquisition date when we are aware of such costs and when such costs are probable of being incurred and can be reasonably estimated. Estimated costs related to development environmental remediation liabilities are recorded as an increase to the cost of the development project. Actual costs are recorded as a decrease to the liability when incurred. These accruals are adjusted as an increase or decrease to the development project costs and as an increase or decrease to the accrued environmental remediation liability if we obtain further information or circumstances change. The environmental remediation obligations recorded at March 31, 2022 were not discounted to their present values since the amount and timing of cash payments are not fixed. It is possible that we could incur additional environmental remediation costs in connection with these development projects. However, potential additional environmental costs for these development projects cannot be reasonably estimated at this time and certain changes in estimates could occur as the site conditions, final project timing, design elements, actual soil conditions and other aspects of the projects, which may depend upon municipal and other approvals beyond the control of the Company, are determined.

Fair Value Measurements and Dis

Fair Value Measurements and Disclosures	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements and Disclosures	Fair Value Measurements and Disclosures Assets and Liabilities Reported at Fair Value The only assets we record at fair value on our consolidated financial statements are the marketable securities related to our Deferred Compensation Plan. The following table sets forth the fair value of our marketable securities as of March 31, 2022 and December 31, 2021: Fair Value (Level 1) (1) March 31, 2022 December 31, 2021 Description (in thousands) Marketable securities (2) $ 25,829 $ 27,475 ________________________ (1) Based on quoted prices in active markets for identical securities. (2) The marketable securities are held in a limited rabbi trust. Financial Instruments Disclosed at Fair Value The following table sets forth the carrying value and the fair value of our other financial instruments as of March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 Carrying Fair (1) Carrying Fair (1) (in thousands) Liabilities Secured debt, net $ 247,030 $ 250,875 $ 248,367 $ 269,687 Unsecured debt, net $ 3,821,433 $ 3,748,850 $ 3,820,383 $ 4,105,408 ________________________ (1) Fair value calculated using Level II inputs, which are based on model-derived valuations in which significant inputs and significant value drivers are observable in active markets.

Net Income Available to Common

Net Income Available to Common Stockholders Per Share of the Company	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Net Income Available to Common Stockholders Per Share of the Company	Net Income Available to Common Stockholders Per Share of the Company The following table reconciles the numerator and denominator in computing the Company’s basic and diluted per-share computations for net income available to common stockholders for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, 2022 2021 (in thousands, except share and per share amounts) Numerator: Net income available to common stockholders $ 53,128 $ 497,631 Allocation to participating securities (1) (413) (365) Numerator for basic and diluted net income available to common stockholders $ 52,715 $ 497,266 Denominator: Basic weighted average vested shares outstanding 116,650,228 116,344,375 Effect of dilutive securities 409,866 457,009 Diluted weighted average vested shares and common stock equivalents outstanding 117,060,094 116,801,384 Basic earnings per share: Net income available to common stockholders per share $ 0.45 $ 4.27 Diluted earnings per share: Net income available to common stockholders per share $ 0.45 $ 4.26 ________________________ (1) Participating securities include certain time-based RSUs and vested market measure-based RSUs. Share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are considered participating securities. The impact of potentially dilutive common shares, including stock options and RSUs are considered in our diluted earnings per share calculation for the three months ended March 31, 2022 and 2021. Certain market measure-based RSUs are not included in dilutive securities for the three months ended March 31, 2022 and 2021, as not all performance metrics had been met by the end of the applicable reporting periods. See Note 7 “Share-Based Compensation” for additional information regarding share-based compensation.

Net Income Available to Commo_2

Net Income Available to Common Unitholders Per Unit of the Operating Partnership	3 Months Ended
	Mar. 31, 2022
Net Income Available To Common Unitholders [Line Items]
Net Income Available to Common Unitholders Per Unit of the Operating Partnership	Net Income Available to Common Stockholders Per Share of the Company The following table reconciles the numerator and denominator in computing the Company’s basic and diluted per-share computations for net income available to common stockholders for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, 2022 2021 (in thousands, except share and per share amounts) Numerator: Net income available to common stockholders $ 53,128 $ 497,631 Allocation to participating securities (1) (413) (365) Numerator for basic and diluted net income available to common stockholders $ 52,715 $ 497,266 Denominator: Basic weighted average vested shares outstanding 116,650,228 116,344,375 Effect of dilutive securities 409,866 457,009 Diluted weighted average vested shares and common stock equivalents outstanding 117,060,094 116,801,384 Basic earnings per share: Net income available to common stockholders per share $ 0.45 $ 4.27 Diluted earnings per share: Net income available to common stockholders per share $ 0.45 $ 4.26 ________________________ (1) Participating securities include certain time-based RSUs and vested market measure-based RSUs. Share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are considered participating securities. The impact of potentially dilutive common shares, including stock options and RSUs are considered in our diluted earnings per share calculation for the three months ended March 31, 2022 and 2021. Certain market measure-based RSUs are not included in dilutive securities for the three months ended March 31, 2022 and 2021, as not all performance metrics had been met by the end of the applicable reporting periods. See Note 7 “Share-Based Compensation” for additional information regarding share-based compensation.
Kilroy Realty L.P.
Net Income Available To Common Unitholders [Line Items]
Net Income Available to Common Unitholders Per Unit of the Operating Partnership	Net Income Available to Common Unitholders Per Unit of the Operating Partnership The following table reconciles the numerator and denominator in computing the Operating Partnership’s basic and diluted per-unit computations for net income available to common unitholders for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, 2022 2021 (in thousands, except unit and per unit amounts) Numerator: Net income available to common unitholders $ 53,644 $ 502,517 Allocation to participating securities (1) (413) (365) Numerator for basic and diluted net income available to common unitholders $ 53,231 $ 502,152 Denominator: Basic weighted average vested units outstanding 117,800,802 117,494,949 Effect of dilutive securities 409,866 457,009 Diluted weighted average vested units and common unit equivalents outstanding 118,210,668 117,951,958 Basic earnings per unit: Net income available to common unitholders per unit $ 0.45 $ 4.27 Diluted earnings per unit: Net income available to common unitholders per unit $ 0.45 $ 4.26 ________________________ (1) Participating securities include certain time-based RSUs and vested market measure-based RSUs. Share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are considered participating securities. The impact of potentially dilutive common units, including stock options and RSU are considered in our diluted earnings per share calculation for the three months ended March 31, 2022 and 2021. Certain market measure-based RSUs are not included in dilutive securities for the three months ended March 31, 2022 and 2021, as not all performance metrics had been met by the end of the applicable reporting periods. See Note 7 “Share-Based Compensation” for additional information regarding share-based compensation.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information of the Company	3 Months Ended
	Mar. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information of the Company	Supplemental Cash Flow Information of the Company Supplemental cash flow information follows (in thousands): Three Months Ended March 31, 2022 2021 SUPPLEMENTAL CASH FLOWS INFORMATION: Cash paid for interest, net of capitalized interest of $18,029 and $16,131 as of March 31, 2022 and 2021, respectively $ 4,736 $ 12,387 Cash paid for amounts included in the measurement of ground lease liabilities $ 1,532 $ 1,455 NON-CASH INVESTING TRANSACTIONS: Accrual for expenditures for operating properties and development and redevelopment properties $ 47,101 $ 57,675 Tenant improvements funded directly by tenants $ 1,908 $ 2,570 NON-CASH FINANCING TRANSACTIONS: Accrual of dividends and distributions payable to common stockholders and common unitholders $ 61,951 $ 59,472 The following is a reconciliation of our cash and cash equivalents and restricted cash at the beginning and end of the three months ended March 31, 2022 and 2021. Three Months Ended March 31, 2022 2021 (in thousands) RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH: Cash and cash equivalents at beginning of period $ 414,077 $ 731,991 Restricted cash at beginning of period 13,006 91,139 Cash and cash equivalents and restricted cash at beginning of period $ 427,083 $ 823,130 Cash and cash equivalents at end of period $ 331,685 $ 657,819 Restricted cash at end of period 13,007 1,028,759 Cash and cash equivalents and restricted cash at end of period $ 344,692 $ 1,686,578

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information of the Operating Partnership	3 Months Ended
	Mar. 31, 2022
Other Significant Noncash Transactions [Line Items]
Supplemental Cash Flow Information of the Operating Partnership	Supplemental Cash Flow Information of the Company Supplemental cash flow information follows (in thousands): Three Months Ended March 31, 2022 2021 SUPPLEMENTAL CASH FLOWS INFORMATION: Cash paid for interest, net of capitalized interest of $18,029 and $16,131 as of March 31, 2022 and 2021, respectively $ 4,736 $ 12,387 Cash paid for amounts included in the measurement of ground lease liabilities $ 1,532 $ 1,455 NON-CASH INVESTING TRANSACTIONS: Accrual for expenditures for operating properties and development and redevelopment properties $ 47,101 $ 57,675 Tenant improvements funded directly by tenants $ 1,908 $ 2,570 NON-CASH FINANCING TRANSACTIONS: Accrual of dividends and distributions payable to common stockholders and common unitholders $ 61,951 $ 59,472 The following is a reconciliation of our cash and cash equivalents and restricted cash at the beginning and end of the three months ended March 31, 2022 and 2021. Three Months Ended March 31, 2022 2021 (in thousands) RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH: Cash and cash equivalents at beginning of period $ 414,077 $ 731,991 Restricted cash at beginning of period 13,006 91,139 Cash and cash equivalents and restricted cash at beginning of period $ 427,083 $ 823,130 Cash and cash equivalents at end of period $ 331,685 $ 657,819 Restricted cash at end of period 13,007 1,028,759 Cash and cash equivalents and restricted cash at end of period $ 344,692 $ 1,686,578
Kilroy Realty L.P.
Other Significant Noncash Transactions [Line Items]
Supplemental Cash Flow Information of the Operating Partnership	Supplemental Cash Flow Information of the Operating Partnership: Supplemental cash flow information follows (in thousands): Three Months Ended March 31, 2022 2021 SUPPLEMENTAL CASH FLOWS INFORMATION: Cash paid for interest, net of capitalized interest of $18,029 and $16,131 as of March 31, 2022 and 2021, respectively $ 4,736 $ 12,387 Cash paid for amounts included in the measurement of ground lease liabilities $ 1,532 $ 1,455 NON-CASH INVESTING TRANSACTIONS: Accrual for expenditures for operating properties and development and redevelopment properties $ 47,101 $ 57,675 Tenant improvements funded directly by tenants $ 1,908 $ 2,570 NON-CASH FINANCING TRANSACTIONS: Accrual of distributions payable to common unitholders (Note 15) $ 61,951 $ 59,472 The following is a reconciliation of our cash and cash equivalents and restricted cash at the beginning and end of the three months ended March 31, 2022 and 2021. Three Months Ended March 31, 2022 2021 (in thousands) RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH: Cash and cash equivalents at beginning of period $ 414,077 $ 731,991 Restricted cash at beginning of period 13,006 91,139 Cash and cash equivalents and restricted cash at beginning of period $ 427,083 $ 823,130 Cash and cash equivalents at end of period $ 331,685 $ 657,819 Restricted cash at end of period 13,007 1,028,759 Cash and cash equivalents and restricted cash at end of period $ 344,692 $ 1,686,578

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On April 13, 2022, aggregate dividends, distributions and dividend equivalents of $61.9 million were paid to common stockholders, common unitholders and RSU holders of record on March 31, 2022.

Organization, Ownership and B_2

Organization, Ownership and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation policy	The consolidated financial statements of the Company include the consolidated financial position and results of operations of the Company, the Operating Partnership, 303 Second LLC, 100 First LLC, Redwood LLC and all of our wholly-owned and controlled subsidiaries. The consolidated financial statements of the Operating Partnership include the consolidated financial position and results of operations of the Operating Partnership, 303 Second LLC, 100 First LLC, Redwood LLC and all of our wholly-owned and controlled subsidiaries. All intercompany balances and transactions have been eliminated in the consolidated financial statements.
Basis of accounting	The accompanying interim financial statements have been prepared by management in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and in conjunction with the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures required for annual financial statements have been condensed or excluded pursuant to SEC rules and regulations. Accordingly, the interim financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the accompanying interim financial statements reflect all adjustments of a normal and recurring nature that are considered necessary for a fair presentation of the results for the interim periods presented. However, the results of operations for the interim periods are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. The interim financial statements for the Company and the Operating Partnership should be read in conjunction with the audited consolidated financial statements and notes thereto included in our annual report on Form 10-K for the year ended December 31, 2021.

Organization, Ownership and B_3

Organization, Ownership and Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of real estate properties	Our stabilized portfolio of operating properties was comprised of the following properties at March 31, 2022: Number of Rentable Number of Percentage Occupied (1) Percentage Leased Stabilized Office Properties (2) 118 15,221,912 415 91.3 % 93.1 % ________________________ (1) Represents economic occupancy. (2) Includes stabilized life science and retail space. Number of Number of 2022 Average Occupancy Stabilized Residential Properties 3 1,001 93.7 % As of March 31, 2022, the following properties were excluded from our stabilized portfolio. We did not have any properties held for sale at March 31, 2022. Number of Estimated Rentable Square Feet (1) In-process development projects - tenant improvement 3 1,604,000 In-process development projects - under construction 2 946,000 In-process redevelopment projects - under construction 3 330,000 ________________________ (1) Estimated rentable square feet upon completion.

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of acquisitions	During the three months ended March 31, 2022, we acquired the following development site from an unrelated third party. Property Date of Acquisition Submarket Purchase Price (in millions) (1) 10615 Burnet Road, Austin, TX March 9, 2022 Stadium District / Domain $ 40.0 ________________________

Secured and Unsecured Debt of_2

Secured and Unsecured Debt of the Operating Partnership (Tables) - Kilroy Realty L.P.	3 Months Ended
	Mar. 31, 2022
Debt Instrument [Line Items]
Schedule of Unsecured Revolving Credit Facility	The following table summarizes the balance and terms of our unsecured revolving credit facility as of March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 (in thousands) Outstanding borrowings $ — $ — Remaining borrowing capacity 1,100,000 1,100,000 Total borrowing capacity (1) $ 1,100,000 $ 1,100,000 Interest rate (2) 1.35 % 1.00 % Facility fee-annual rate (3) 0.200% Maturity date July 2025 ________________________ (1) We may elect to borrow, subject to bank approval and obtaining commitments for any additional borrowing capacity, up to an additional $500.0 million under an accordion feature under the terms of the unsecured revolving credit facility. (2) Our unsecured revolving credit facility interest rate was calculated based on the contractual rate of LIBOR plus 0.900% as of March 31, 2022 and December 31, 2021. (3) Our facility fee is paid on a quarterly basis and is calculated based on the total borrowing capacity. In addition to the facility fee, we incurred debt origination and legal costs. As of March 31, 2022 and December 31, 2021, $6.8 million and $7.3 million of unamortized deferred financing costs, respectively, which are included in prepaid expenses and other assets, net on our consolidated balance sheets, remained to be amortized through the respective maturity dates presented of our unsecured revolving credit facility.
Schedule of Debt Maturities	The following table summarizes the stated debt maturities and scheduled amortization payments for all outstanding debt as of March 31, 2022: Year (in thousands) Remaining 2022 $ 4,186 2023 5,775 2024 431,006 2025 406,246 2026 401,317 2027 249,125 Thereafter 2,600,000 Total aggregate principal value (1) $ 4,097,655 ________________________
Schedule of Capitalized Interest and Loan Fees	The following table sets forth gross interest expense, including debt discount and deferred financing cost amortization, net of capitalized interest, for the three months ended March 31, 2022 and 2021. The interest expense capitalized was recorded as a cost of development and redevelopment and increased the carrying value of undeveloped land and construction in progress. Three Months Ended March 31, 2022 2021 (in thousands) Gross interest expense $ 39,723 $ 39,242 Capitalized interest and deferred financing costs (19,098) (16,908) Interest expense $ 20,625 $ 22,334

Partners' Capital of the Oper_2

Partners' Capital of the Operating Partnership (Tables)	3 Months Ended
	Mar. 31, 2022
Partners' Capital Notes [Abstract]
Schedule of Redeemable Noncontrolling Interest	The following table sets forth the number of common units held by the Company and the number of common units held by non-affiliated investors and certain of our executive officers and directors in the form of noncontrolling common units as well as the ownership interest held on each respective date: March 31, 2022 December 31, 2021 March 31, 2021 Company owned common units in the Operating Partnership 116,716,080 116,464,169 116,450,370 Company owned general partnership interest 99.0 % 99.0 % 99.0 % Noncontrolling common units of the Operating Partnership 1,150,574 1,150,574 1,150,574 Ownership interest of noncontrolling interest 1.0 % 1.0 % 1.0 %

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Schedule of share-based payment award, restricted stock units, valuation assumptions	The fair value of the award was calculated using a Monte Carlo simulation pricing model based on the assumptions in the table below, which resulted in the following grant date fair value per share. Fair Value Assumptions Valuation date January 28, 2022 Fair value on valuation date (in millions) $12.7 Fair value per share on valuation date (1) $67.62 Expected share price volatility 36.0% Risk-free interest rate 1.35% ________________________ (1) For one participant, the fair value per share on the valuation date for their 2022 Performance-Based RSUs is $70.00.

Rental Income and Future Mini_2

Rental Income and Future Minimum Rent (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Schedule of Rental Income	The table below sets forth the allocation of rental income between fixed and variable payments and collectability recoveries (reversals) for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, 2022 2021 (in thousands) Fixed lease payments $ 224,816 $ 204,216 Variable lease payments 37,081 31,475 Net collectability recoveries (reversals) (1) 1,311 (1,035) Total rental income $ 263,208 $ 234,656 _____________________
Future Contractual Minimum Rent Under Operating Lease	Future contractual minimum rent under operating leases, which includes amounts contractually due from leases that are on a cash basis of reporting due to creditworthiness considerations, as of March 31, 2022 for future periods is summarized as follows: Year Ending (in thousands) Remaining 2022 $ 602,820 2023 814,598 2024 779,984 2025 741,031 2026 687,467 2027 626,861 Thereafter 2,291,039 Total (1) $ 6,543,800 _____________________ (1) Excludes residential leases and leases with a term of one year or less.

Fair Value Measurements and D_2

Fair Value Measurements and Disclosures (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value of the Company's Marketable Securities	The following table sets forth the fair value of our marketable securities as of March 31, 2022 and December 31, 2021: Fair Value (Level 1) (1) March 31, 2022 December 31, 2021 Description (in thousands) Marketable securities (2) $ 25,829 $ 27,475 ________________________ (1) Based on quoted prices in active markets for identical securities. (2) The marketable securities are held in a limited rabbi trust.
Carrying Value and Fair Value of Other Financial Instruments	The following table sets forth the carrying value and the fair value of our other financial instruments as of March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 Carrying Fair (1) Carrying Fair (1) (in thousands) Liabilities Secured debt, net $ 247,030 $ 250,875 $ 248,367 $ 269,687 Unsecured debt, net $ 3,821,433 $ 3,748,850 $ 3,820,383 $ 4,105,408 ________________________ (1) Fair value calculated using Level II inputs, which are based on model-derived valuations in which significant inputs and significant value drivers are observable in active markets.

Net Income Available to Commo_3

Net Income Available to Common Stockholders Per Share of the Company (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Net Income Available to Common Stockholders	The following table reconciles the numerator and denominator in computing the Company’s basic and diluted per-share computations for net income available to common stockholders for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, 2022 2021 (in thousands, except share and per share amounts) Numerator: Net income available to common stockholders $ 53,128 $ 497,631 Allocation to participating securities (1) (413) (365) Numerator for basic and diluted net income available to common stockholders $ 52,715 $ 497,266 Denominator: Basic weighted average vested shares outstanding 116,650,228 116,344,375 Effect of dilutive securities 409,866 457,009 Diluted weighted average vested shares and common stock equivalents outstanding 117,060,094 116,801,384 Basic earnings per share: Net income available to common stockholders per share $ 0.45 $ 4.27 Diluted earnings per share: Net income available to common stockholders per share $ 0.45 $ 4.26 ________________________

Net Income Available to Commo_4

Net Income Available to Common Unitholders Per Unit of the Operating Partnership (Tables)	3 Months Ended
	Mar. 31, 2022
Net Income Available To Common Unitholders [Line Items]
Net Income Available to Common Stockholders	The following table reconciles the numerator and denominator in computing the Company’s basic and diluted per-share computations for net income available to common stockholders for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, 2022 2021 (in thousands, except share and per share amounts) Numerator: Net income available to common stockholders $ 53,128 $ 497,631 Allocation to participating securities (1) (413) (365) Numerator for basic and diluted net income available to common stockholders $ 52,715 $ 497,266 Denominator: Basic weighted average vested shares outstanding 116,650,228 116,344,375 Effect of dilutive securities 409,866 457,009 Diluted weighted average vested shares and common stock equivalents outstanding 117,060,094 116,801,384 Basic earnings per share: Net income available to common stockholders per share $ 0.45 $ 4.27 Diluted earnings per share: Net income available to common stockholders per share $ 0.45 $ 4.26 ________________________
Kilroy Realty L.P.
Net Income Available To Common Unitholders [Line Items]
Net Income Available to Common Stockholders	The following table reconciles the numerator and denominator in computing the Operating Partnership’s basic and diluted per-unit computations for net income available to common unitholders for the three months ended March 31, 2022 and 2021: Three Months Ended March 31, 2022 2021 (in thousands, except unit and per unit amounts) Numerator: Net income available to common unitholders $ 53,644 $ 502,517 Allocation to participating securities (1) (413) (365) Numerator for basic and diluted net income available to common unitholders $ 53,231 $ 502,152 Denominator: Basic weighted average vested units outstanding 117,800,802 117,494,949 Effect of dilutive securities 409,866 457,009 Diluted weighted average vested units and common unit equivalents outstanding 118,210,668 117,951,958 Basic earnings per unit: Net income available to common unitholders per unit $ 0.45 $ 4.27 Diluted earnings per unit: Net income available to common unitholders per unit $ 0.45 $ 4.26 ________________________

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information of the Company (Tables)	3 Months Ended
	Mar. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Cash Flows	Supplemental cash flow information follows (in thousands): Three Months Ended March 31, 2022 2021 SUPPLEMENTAL CASH FLOWS INFORMATION: Cash paid for interest, net of capitalized interest of $18,029 and $16,131 as of March 31, 2022 and 2021, respectively $ 4,736 $ 12,387 Cash paid for amounts included in the measurement of ground lease liabilities $ 1,532 $ 1,455 NON-CASH INVESTING TRANSACTIONS: Accrual for expenditures for operating properties and development and redevelopment properties $ 47,101 $ 57,675 Tenant improvements funded directly by tenants $ 1,908 $ 2,570 NON-CASH FINANCING TRANSACTIONS: Accrual of dividends and distributions payable to common stockholders and common unitholders $ 61,951 $ 59,472
Reconciliation of Cash and Cash Equivalents and Restricted Cash	The following is a reconciliation of our cash and cash equivalents and restricted cash at the beginning and end of the three months ended March 31, 2022 and 2021. Three Months Ended March 31, 2022 2021 (in thousands) RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH: Cash and cash equivalents at beginning of period $ 414,077 $ 731,991 Restricted cash at beginning of period 13,006 91,139 Cash and cash equivalents and restricted cash at beginning of period $ 427,083 $ 823,130 Cash and cash equivalents at end of period $ 331,685 $ 657,819 Restricted cash at end of period 13,007 1,028,759 Cash and cash equivalents and restricted cash at end of period $ 344,692 $ 1,686,578
Reconciliation of Cash and Cash Equivalents and Restricted Cash	The following is a reconciliation of our cash and cash equivalents and restricted cash at the beginning and end of the three months ended March 31, 2022 and 2021. Three Months Ended March 31, 2022 2021 (in thousands) RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH: Cash and cash equivalents at beginning of period $ 414,077 $ 731,991 Restricted cash at beginning of period 13,006 91,139 Cash and cash equivalents and restricted cash at beginning of period $ 427,083 $ 823,130 Cash and cash equivalents at end of period $ 331,685 $ 657,819 Restricted cash at end of period 13,007 1,028,759 Cash and cash equivalents and restricted cash at end of period $ 344,692 $ 1,686,578

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information of the Operating Partnership (Tables)	3 Months Ended
	Mar. 31, 2022
Other Significant Noncash Transactions [Line Items]
Schedule of Supplemental Cash Flows	Supplemental cash flow information follows (in thousands): Three Months Ended March 31, 2022 2021 SUPPLEMENTAL CASH FLOWS INFORMATION: Cash paid for interest, net of capitalized interest of $18,029 and $16,131 as of March 31, 2022 and 2021, respectively $ 4,736 $ 12,387 Cash paid for amounts included in the measurement of ground lease liabilities $ 1,532 $ 1,455 NON-CASH INVESTING TRANSACTIONS: Accrual for expenditures for operating properties and development and redevelopment properties $ 47,101 $ 57,675 Tenant improvements funded directly by tenants $ 1,908 $ 2,570 NON-CASH FINANCING TRANSACTIONS: Accrual of dividends and distributions payable to common stockholders and common unitholders $ 61,951 $ 59,472
Reconciliation of Cash and Cash Equivalents and Restricted Cash	The following is a reconciliation of our cash and cash equivalents and restricted cash at the beginning and end of the three months ended March 31, 2022 and 2021. Three Months Ended March 31, 2022 2021 (in thousands) RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH: Cash and cash equivalents at beginning of period $ 414,077 $ 731,991 Restricted cash at beginning of period 13,006 91,139 Cash and cash equivalents and restricted cash at beginning of period $ 427,083 $ 823,130 Cash and cash equivalents at end of period $ 331,685 $ 657,819 Restricted cash at end of period 13,007 1,028,759 Cash and cash equivalents and restricted cash at end of period $ 344,692 $ 1,686,578
Reconciliation of Cash and Cash Equivalents and Restricted Cash	The following is a reconciliation of our cash and cash equivalents and restricted cash at the beginning and end of the three months ended March 31, 2022 and 2021. Three Months Ended March 31, 2022 2021 (in thousands) RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH: Cash and cash equivalents at beginning of period $ 414,077 $ 731,991 Restricted cash at beginning of period 13,006 91,139 Cash and cash equivalents and restricted cash at beginning of period $ 427,083 $ 823,130 Cash and cash equivalents at end of period $ 331,685 $ 657,819 Restricted cash at end of period 13,007 1,028,759 Cash and cash equivalents and restricted cash at end of period $ 344,692 $ 1,686,578
Kilroy Realty L.P.
Other Significant Noncash Transactions [Line Items]
Schedule of Supplemental Cash Flows	Supplemental cash flow information follows (in thousands): Three Months Ended March 31, 2022 2021 SUPPLEMENTAL CASH FLOWS INFORMATION: Cash paid for interest, net of capitalized interest of $18,029 and $16,131 as of March 31, 2022 and 2021, respectively $ 4,736 $ 12,387 Cash paid for amounts included in the measurement of ground lease liabilities $ 1,532 $ 1,455 NON-CASH INVESTING TRANSACTIONS: Accrual for expenditures for operating properties and development and redevelopment properties $ 47,101 $ 57,675 Tenant improvements funded directly by tenants $ 1,908 $ 2,570 NON-CASH FINANCING TRANSACTIONS: Accrual of distributions payable to common unitholders (Note 15) $ 61,951 $ 59,472
Reconciliation of Cash and Cash Equivalents and Restricted Cash	The following is a reconciliation of our cash and cash equivalents and restricted cash at the beginning and end of the three months ended March 31, 2022 and 2021. Three Months Ended March 31, 2022 2021 (in thousands) RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH: Cash and cash equivalents at beginning of period $ 414,077 $ 731,991 Restricted cash at beginning of period 13,006 91,139 Cash and cash equivalents and restricted cash at beginning of period $ 427,083 $ 823,130 Cash and cash equivalents at end of period $ 331,685 $ 657,819 Restricted cash at end of period 13,007 1,028,759 Cash and cash equivalents and restricted cash at end of period $ 344,692 $ 1,686,578
Reconciliation of Cash and Cash Equivalents and Restricted Cash	The following is a reconciliation of our cash and cash equivalents and restricted cash at the beginning and end of the three months ended March 31, 2022 and 2021. Three Months Ended March 31, 2022 2021 (in thousands) RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH: Cash and cash equivalents at beginning of period $ 414,077 $ 731,991 Restricted cash at beginning of period 13,006 91,139 Cash and cash equivalents and restricted cash at beginning of period $ 427,083 $ 823,130 Cash and cash equivalents at end of period $ 331,685 $ 657,819 Restricted cash at end of period 13,007 1,028,759 Cash and cash equivalents and restricted cash at end of period $ 344,692 $ 1,686,578

Organization, Ownership and B_4

Organization, Ownership and Basis of Presentation - Operating Properties (Details)	3 Months Ended
	Mar. 31, 2022ft²projectpropertytenant
In-process development projects - tenant improvement
Real Estate Properties [Line Items]
Rentable Square Feet	1,604,000
Number of properties | project	3
In-process development projects - under construction
Real Estate Properties [Line Items]
Rentable Square Feet	946,000
Number of properties | project	2
In-process redevelopment projects - under construction
Real Estate Properties [Line Items]
Rentable Square Feet	330,000
Number of properties | project	3
Stabilized Office Properties
Real Estate Properties [Line Items]
Number of Buildings | property	118
Rentable Square Feet	15,221,912
Number of Tenants | tenant	415
Percentage Occupied	91.30%
Percentage Leased	93.10%
Stabilized Residential Properties
Real Estate Properties [Line Items]
Number of properties | property	3
Number of Units | property	1,001
2022 Average Occupancy	93.70%

Organization, Ownership and B_5

Organization, Ownership and Basis of Presentation - Narrative (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022USD ($)apropertyproperty_partnershipdevelopmentSiteVIEbuilding	Mar. 31, 2021	Dec. 31, 2021USD ($)VIE
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Lease-up properties occupancy percentage	95.00%
Lease-up properties occupancy duration	1 year
Assets	$ 10,564,822		$ 10,583,397
Liabilities	4,899,061		4,893,527
Noncontrolling interest in VIE	$ 186,961		$ 196,064
San Francisco, California
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number of properties | building	1
101 First LLC and 303 Second LLC
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Company owned general partnership interest	56.00%
Redwood LLC
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Company owned general partnership interest	93.00%
Redwood LLC | Redwood City, California
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number of properties | property	2
Operating Partnership
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership interest (percent)	99.00%	99.00%	99.00%
Non-Affiliated Investors | Operating Partnership
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Ownership interest (percent)	1.00%	1.00%	1.00%
Variable Interest Entity, Primary Beneficiary
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number of VIEs | VIE	3		2
Assets	$ 483,500		$ 462,300
Liabilities	29,800		28,100
Variable Interest Entity, Primary Beneficiary | Real Estate Investment
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Assets	413,200		377,900
Variable Interest Entity, Primary Beneficiary | 101 First LLC and 303 Second LLC
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Noncontrolling interest in VIE	$ 181,700		$ 190,700
Development sites
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number of future development sites | developmentSite	7
Area of undeveloped land | a	62
Stabilized Office Properties | Washington
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number of properties | property	9
Development Project In The Tenant Improvement Phase | Washington
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number of properties | developmentSite	1
Development Project In The Tenant Improvement Phase | Texas
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number of properties | developmentSite	1
Future Development Project | Washington
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number of properties | developmentSite	1
Construction Development | Texas
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number of properties | developmentSite	1
Properties and development projects
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Property ownership percentage	100.00%
Office properties owned by consolidated property partnerships
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number of properties | property	4
Consolidated Property Partnerships
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number of property partnerships | property_partnership	3
Consolidated Property Partnerships Owning Office Properties Through REITs | 101 First LLC and 303 Second LLC
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number of property partnerships | property_partnership	2

Acquisitions (Details)

Acquisitions (Details) $ in Millions	Mar. 09, 2022USD ($)
10615 Burnet Road, Austin, TX
Schedule of Asset Acquisitions, by Acquisition [Line Items]
Purchase price	$ 40

Secured and Unsecured Debt of_3

Secured and Unsecured Debt of the Operating Partnership - Unsecured Senior Notes, Unsecured Revolving Credit Facility and Term Loan Facility (Details) - Kilroy Realty L.P. - Revolving credit facility - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Terms of the Credit Facility
Outstanding borrowings	$ 0	$ 0
Remaining borrowing capacity	1,100,000,000	1,100,000,000
Total borrowing capacity	$ 1,100,000,000	$ 1,100,000,000
Interest rate (percent)	1.35%	1.00%
Facility fee-annual rate (percent)	0.20%	0.20%
Contingent additional borrowings	$ 500,000,000	$ 500,000,000
Unamortized deferred financing costs	$ 6,800,000	$ 7,300,000
London Interbank Offered Rate (LIBOR)
Terms of the Credit Facility
Variable rate (percent)	0.90%	0.90%

Secured and Unsecured Debt of_4

Secured and Unsecured Debt of the Operating Partnership - Debt Maturities (Details) - Kilroy Realty L.P. $ in Thousands	Mar. 31, 2022USD ($)
Stated debt maturities and scheduled amortization payments
Remaining 2022	$ 4,186
2023	5,775
2024	431,006
2025	406,246
2026	401,317
2027	249,125
Thereafter	2,600,000
Total debt	4,097,655
Unsecured Term Loan Facility, Unsecured Senior Notes and Secured Debt
Stated debt maturities and scheduled amortization payments
Unamortized deferred financing costs	22,000
Senior Notes
Stated debt maturities and scheduled amortization payments
Unamortized discount	$ 7,100

Secured and Unsecured Debt of_5

Secured and Unsecured Debt of the Operating Partnership - Capitalized Interest and Loan Fees (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Capitalized Interest and Loan Fees [Line Items]
Interest expense	$ 20,625	$ 22,334
Kilroy Realty L.P.
Capitalized Interest and Loan Fees [Line Items]
Gross interest expense	39,723	39,242
Capitalized interest and deferred financing costs	(19,098)	(16,908)
Interest expense	$ 20,625	$ 22,334

Stockholders' Equity of the C_2

Stockholders' Equity of the Company (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2018
Class of Stock [Line Items]
Common stock, shares issued (in shares)	116,716,080	116,464,169
2018 At-The-Market Program
Class of Stock [Line Items]
At the market stock offering aggregate gross sales price of common stock			$ 500,000,000
Common Stock | Forward equity sale | 2018 At-The-Market Program
Class of Stock [Line Items]
Common stock, shares issued (in shares)	3,594,576
At the market stock offering remaining amount available for issuance	$ 214,200,000
Proceeds from issuance of stock	$ 0

Noncontrolling Interests on t_2

Noncontrolling Interests on the Company's Consolidated Financial Statements (Details) $ / shares in Units, $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2022USD ($)trading_day$ / sharesshares	Mar. 31, 2021shares	Dec. 31, 2021USD ($)trading_day$ / sharesshares
Noncontrolling Interest [Line Items]
Common stock, par value (in dollars per share) | $ / shares	$ 0.01		$ 0.01
Number of trading days | trading_day	10		10
Aggregate value upon redemption of outstanding noncontrolling common units | $	$ 87.7		$ 76.2
Non-Affiliated Investors | Common Units
Noncontrolling Interest [Line Items]
Common units outstanding held by common limited partners (in shares)	1,150,574	1,150,574	1,150,574
Kilroy Realty L.P. | Common Units
Noncontrolling Interest [Line Items]
Conversion ratio	1
Kilroy Realty L.P. | Common Units
Noncontrolling Interest [Line Items]
Common units outstanding held by common limited partners (in shares)	1,150,574		1,150,574
Operating Partnership
Noncontrolling Interest [Line Items]
Ownership interest (percent)	99.00%	99.00%	99.00%
Operating Partnership | Non-Affiliated Investors
Noncontrolling Interest [Line Items]
Ownership interest (percent)	1.00%	1.00%	1.00%

Partners' Capital of the Oper_3

Partners' Capital of the Operating Partnership (Details) - shares	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Operating Partnership
General Partners' Capital Account [Abstract]
Ownership interest (percent)	99.00%	99.00%	99.00%
Kilroy Realty L.P. | Common Units
General Partners' Capital Account [Abstract]
Company owned common units in the Operating Partnership (in units)	116,716,080	116,450,370	116,464,169
Noncontrolling common units of the Operating Partnership (in units)	1,150,574		1,150,574
Non-Affiliated Investors | Operating Partnership
General Partners' Capital Account [Abstract]
Ownership interest (percent)	1.00%	1.00%	1.00%
Non-Affiliated Investors | Common Units
General Partners' Capital Account [Abstract]
Noncontrolling common units of the Operating Partnership (in units)	1,150,574	1,150,574	1,150,574

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) $ / shares in Units, $ in Millions	Jan. 28, 2022USD ($)installmentparticipant$ / sharesshares	Jan. 31, 2022participantshares	Mar. 31, 2022USD ($)compensation_planshares	Mar. 31, 2021USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share-based incentive compensation plans | compensation_plan			1
Effective registration shares (in shares) | shares			10,700,000
Number of shares available for grant (in shares) | shares			1,000,000
Share-based compensation expense | $			$ 6.6	$ 9.6
Share-based compensation expense capitalized | $			1.3	$ 1.7
Share-based compensation not yet recognized | $			$ 38.2
Share-based compensation not yet recognized period of recognition			2 years 1 month 6 days
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted in period (in shares) | shares		351,281
Market Measure-Based Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted in period (in shares) | shares		193,111
Time-Based Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted in period (in shares) | shares		158,170
2022 Performance-Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
Vesting, achievement of pre-set FFO per share goals, percentage of RSUs		100.00%
Vesting, Average debt to EBIDTA ratio, percentage of RSUs		50.00%
Vesting, Market measure, percentage of RSUs		50.00%
Share-based compensation expense | $			$ 1.1
Number of participants with compensation expense recognized on a rolling twelve-month basis | participant		1
Number of shares issuable per RSU		1
Fair value RSUs granted | $	$ 12.7
Time-Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of participants with compensation expense recognized on a rolling twelve-month basis | participant	1
Number of installments | installment	3
Right to receive number of shares (in shares) | shares	1
Time-Based Restricted Stock Units (RSUs), Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value RSUs granted | $	$ 10
Share price (in dollars per share) | $ / shares	$ 63.05
2021 Performance-Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-based RSU, achievement target, all other participants, percent			100.00%
2020 Performance-Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-based RSU, achievement target, all other participants, percent			150.00%
Performance-based RSU, achievement target, one participant, percent			175.00%

Share-Based Compensation - Fair

Share-Based Compensation - Fair Value Assumptions (Details) - 2022 Performance-Based RSUs $ / shares in Units, $ in Millions	Jan. 28, 2022USD ($)$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value on valuation date | $	$ 12.7
Fair value per share on valuation date (in dollars per share)	$ 67.62
Expected share price volatility	36.00%
Risk-free interest rate	1.35%
One Participant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value per share on valuation date (in dollars per share)	$ 70

Rental Income and Future Mini_3

Rental Income and Future Minimum Rent - Rental income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Fixed lease payments	$ 224,816	$ 204,216
Variable lease payments	37,081	31,475
Net collectability recoveries (reversals)	1,311	(1,035)
Total rental income	$ 263,208	$ 234,656

Rental Income and Future Mini_4

Rental Income and Future Minimum Rent - Future Contractual Minimum Rent (Details) $ in Thousands	Mar. 31, 2022USD ($)
Future contractual minimum rent under operating lease
Remaining 2022	$ 602,820
2023	814,598
2024	779,984
2025	741,031
2026	687,467
2027	626,861
Thereafter	2,291,039
Total	$ 6,543,800

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions	Mar. 31, 2022USD ($)
Long-term Purchase Commitment [Line Items]
Commitments for contracts and executed leases directly related to operating and development properties	$ 819
Environmental matters
Long-term Purchase Commitment [Line Items]
Accrued environmental remediation liabilities	$ 74.3

Fair Value Measurements and D_3

Fair Value Measurements and Disclosures - Assets and Liabilities Reported at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair value, measurements, recurring | Fair Value (Level 1)
Assets and Liabilities Reported at Fair Value
Marketable securities	$ 25,829	$ 27,475

Fair Value Measurements and D_4

Fair Value Measurements and Disclosures - Financial Instruments Disclosed at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Carrying Value | Secured debt, net
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt, net	$ 247,030	$ 248,367
Carrying Value | Unsecured debt, net
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt, net	3,821,433	3,820,383
Fair Value | Secured debt, net | Fair value (level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt, net	250,875	269,687
Fair Value | Unsecured debt, net | Fair value (level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt, net	$ 3,748,850	$ 4,105,408

Net Income Available to Commo_5

Net Income Available to Common Stockholders Per Share of the Company (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Numerator:
Net income available to common stockholders	$ 53,128	$ 497,631
Allocation to participating securities	(413)	(365)
Numerator for basic and diluted net income available to common stockholders	$ 52,715	$ 497,266
Denominator:
Basic weighted average vested shares outstanding (in shares)	116,650,228	116,344,375
Effect of dilutive securities (in shares)	409,866	457,009
Diluted weighted average vested shares and common stock equivalents outstanding (in shares)	117,060,094	116,801,384
Basic earnings per share:
Net income available to common stockholders per share (in dollars per share)	$ 0.45	$ 4.27
Diluted earnings per share:
Net income available to common stockholders per share (in dollars per share)	$ 0.45	$ 4.26

Net Income Available to Commo_6

Net Income Available to Common Unitholders Per Unit of the Operating Partnership (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Numerator:
Net income available to common unitholders	$ 53,128	$ 497,631
Allocation to participating securities	(413)	(365)
Numerator for basic and diluted net income available to common stockholders	$ 52,715	$ 497,266
Denominator:
Basic weighted average vested units outstanding (in shares)	116,650,228	116,344,375
Effect of dilutive securities (in shares)	409,866	457,009
Diluted weighted average vested shares and common stock equivalents outstanding (in shares)	117,060,094	116,801,384
Basic earnings per unit:
Net income available to common stockholders per unit (in dollars per share)	$ 0.45	$ 4.27
Diluted earnings per unit:
Net income available to common stockholders per unit (in dollars per share)	$ 0.45	$ 4.26
Kilroy Realty L.P.
Numerator:
Net income available to common unitholders	$ 53,644	$ 502,517
Allocation to participating securities	(413)	(365)
Numerator for basic and diluted net income available to common stockholders	$ 53,231	$ 502,152
Denominator:
Basic weighted average vested units outstanding (in shares)	117,800,802	117,494,949
Effect of dilutive securities (in shares)	409,866	457,009
Diluted weighted average vested shares and common stock equivalents outstanding (in shares)	118,210,668	117,951,958
Basic earnings per unit:
Net income available to common stockholders per unit (in dollars per share)	$ 0.45	$ 4.27
Diluted earnings per unit:
Net income available to common stockholders per unit (in dollars per share)	$ 0.45	$ 4.26

Supplemental Cash Flow Inform_5

Supplemental Cash Flow Information of the Company - Supplemental Cash Flow (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
SUPPLEMENTAL CASH FLOWS INFORMATION:
Capitalized interest	$ 18,029	$ 16,131
Cash paid for interest, net of capitalized interest of $18,029 and $16,131 as of March 31, 2022 and 2021, respectively	4,736	12,387
Cash paid for amounts included in the measurement of ground lease liabilities	1,532	1,455
NON-CASH INVESTING TRANSACTIONS:
Accrual for expenditures for operating properties and development and redevelopment properties	47,101	57,675
Tenant improvements funded directly by tenants	1,908	2,570
NON-CASH FINANCING TRANSACTIONS:
Accrual of dividends and distributions payable to common stockholders and common unitholders (Note 15)	$ 61,951	$ 59,472

Supplemental Cash Flow Inform_6

Supplemental Cash Flow Information of the Company - Cash and Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH:
Cash and cash equivalents	$ 331,685	$ 414,077	$ 657,819	$ 731,991
Restricted cash	13,007	13,006	1,028,759	91,139
Cash and cash equivalents and restricted cash	$ 344,692	$ 427,083	$ 1,686,578	$ 823,130

Supplemental Cash Flow Inform_7

Supplemental Cash Flow Information of the Operating Partnership - Supplemental Cash Flow (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
SUPPLEMENTAL CASH FLOWS INFORMATION:
Capitalized interest	$ 18,029	$ 16,131
Cash paid for interest, net of capitalized interest of $18,029 and $16,131 as of March 31, 2022 and 2021, respectively	4,736	12,387
Cash paid for amounts included in the measurement of ground lease liabilities	1,532	1,455
NON-CASH INVESTING TRANSACTIONS:
Accrual for expenditures for operating properties and development and redevelopment properties	47,101	57,675
Tenant improvements funded directly by tenants	1,908	2,570
NON-CASH FINANCING TRANSACTIONS:
Accrual of distributions payable to common unitholders (Note 15)	61,951	59,472
Kilroy Realty L.P.
SUPPLEMENTAL CASH FLOWS INFORMATION:
Capitalized interest	18,029	16,131
Cash paid for interest, net of capitalized interest of $18,029 and $16,131 as of March 31, 2022 and 2021, respectively	4,736	12,387
Cash paid for amounts included in the measurement of ground lease liabilities	1,532	1,455
NON-CASH INVESTING TRANSACTIONS:
Accrual for expenditures for operating properties and development and redevelopment properties	47,101	57,675
Tenant improvements funded directly by tenants	1,908	2,570
NON-CASH FINANCING TRANSACTIONS:
Accrual of distributions payable to common unitholders (Note 15)	$ 61,951	$ 59,472

Supplemental Cash Flow Inform_8

Supplemental Cash Flow Information of the Operating Partnership - Reconciliation of Cash and Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH:
Cash and cash equivalents	$ 331,685	$ 414,077	$ 657,819	$ 731,991
Restricted cash	13,007	13,006	1,028,759	91,139
Cash and cash equivalents and restricted cash	344,692	427,083	1,686,578	823,130
Kilroy Realty L.P.
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH:
Cash and cash equivalents	331,685	414,077	657,819	731,991
Restricted cash	13,007	13,006	1,028,759	91,139
Cash and cash equivalents and restricted cash	$ 344,692	$ 427,083	$ 1,686,578	$ 823,130

Subsequent Events (Details)

Subsequent Events (Details) $ in Millions	Apr. 13, 2022USD ($)
Subsequent Event
Subsequent Event [Line Items]
Payment of dividends	$ 61.9