v3.26.1
Net Income (Loss) Available to Common Unitholders Per Unit of the Operating Partnership
 3 Months Ended
Mar. 31, 2026
Net Income Available To Common Unitholders [Line Items]  
Net Income (Loss) Available to Common Unitholders Per Unit of the Operating Partnership Net Income (Loss) 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:

 Three Months Ended March 31,
 20262025
 (in thousands, except share and per share amounts)
Numerator:
Net (loss) income available to common stockholders
$(19,267)$39,008 
Allocation to participating securities (1)
53 (212)
Numerator for basic and diluted net (loss) income available to common stockholders
$(19,214)$38,796 
Denominator:  
Basic weighted average vested shares outstanding117,636,517 118,194,588 
Effect of dilutive securities— 469,842 
Diluted weighted average vested shares and common stock equivalents outstanding117,636,517 118,664,430 
Basic earnings per share:  
Net (loss) income available to common stockholders per share
$(0.16)$0.33 
Diluted earnings per share:  
Net (loss) income available to common stockholders per share
$(0.16)$0.33 
________________________ 
(1)Participating securities include certain vested time-based RSUs and performance-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 RSUs, are considered in our diluted earnings per share calculation for the three months ended March 31, 2026 and 2025. Certain performance-based RSUs are not included in dilutive securities for the three months ended March 31, 2026 and 2025, as not all performance metrics had been met by the end of the applicable reporting periods and/or they were anti-dilutive. Additionally, time-based RSUs are not included in dilutive securities for the three months ended March 31, 2026 as they were anti-dilutive.
See Note 8 “Share-Based Compensation” for additional information regarding share-based compensation.
Kilroy Realty L.P.  
Net Income Available To Common Unitholders [Line Items]  
Net Income (Loss) Available to Common Unitholders Per Unit of the Operating Partnership Net Income (Loss) 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:
 Three Months Ended March 31,
 20262025
 (in thousands, except unit and per unit amounts)
Numerator:
Net (loss) income available to common unitholders
$(19,452)$39,383 
Allocation to participating securities (1)
53 (212)
Numerator for basic and diluted net (loss) income available to common unitholders
$(19,399)$39,171 
Denominator:  
Basic weighted average vested units outstanding118,770,079 119,345,162 
Effect of dilutive securities— 469,842 
Diluted weighted average vested units and common unit equivalents outstanding118,770,079 119,815,004 
Basic earnings per unit:
Net (loss) income available to common unitholders per unit
$(0.16)$0.33 
Diluted earnings per unit:  
Net (loss) income available to common unitholders per unit
$(0.16)$0.33 
________________________ 
(1)Participating securities include certain vested time-based RSUs and performance-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 RSUs, are considered in our diluted earnings per share calculation for the three months ended March 31, 2026 and 2025. Certain performance-based RSUs are not included in dilutive securities for the three months ended March 31, 2026 and 2025, as not all performance metrics had been met by the end of the applicable reporting periods and/or they were anti-dilutive. Additionally, time-based RSUs are not included in dilutive securities for the three months ended March 31, 2026 as they were anti-dilutive.
See Note 8 “Share-Based Compensation” for additional information regarding share-based compensation.