KILROY REALTY CORPKRC

KILROY REALTY CORP Earnings Per Share Disclosure

10-KFiled Feb 11, 20262 min read
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:
Year Ended December 31,
202520242023
(in thousands, except share and per share amounts)
Numerator:
Net income available to common stockholders$276,121 $210,969 $212,241 
Allocation to participating securities (1)
(925)(1,967)(1,233)
Numerator for basic and diluted net income available to common stockholders$275,196 $209,002 $211,008 
Denominator: 
Basic weighted average vested shares outstanding118,278,990 117,649,111 117,160,173 
Effect of dilutive securities 553,045 507,876 346,082 
Diluted weighted average vested shares and common stock equivalents outstanding118,832,035 118,156,987 117,506,255 
Basic earnings per share: 
Net income available to common stockholders per share$2.33 $1.78 $1.80 
Diluted earnings per share: 
Net income available to common stockholders per share$2.32 $1.77 $1.80 
_____________________ 
(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 RSUs, are considered in our diluted earnings per share calculation for the years ended December 31, 2025, 2024, and 2023. Certain performance-based RSUs are not included in dilutive securities as of December 31, 2025, 2024, and 2023 as not all performance metrics had been met by the end of the applicable reporting periods. Additionally, certain unvested time-based RSUs are not included in dilutive securities for the year ended December 31, 2023 as they were anti-dilutive.
See Note 14 “Share-Based and Other Compensation” for additional information regarding the RSUs.

Historical Timeline

Fiscal YearFiled
2025Feb 11, 2026Showing above
2024Feb 13, 2025
2023Feb 9, 2024
2022Feb 10, 2023
2021Feb 10, 2022
2020Feb 12, 2021
2019Feb 13, 2020

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.

Other Available Disclosures

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