吉劳埃地产 2025年季度报告

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM10-Q (Mark One) ☑QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedMarch 31, 2025 KILROY REALTY CORPORATIONKILROY REALTY, L.P. Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), Kilroy Realty CorporationYes☑No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Kilroy Realty CorporationYes☑No☐Kilroy Realty, L.P.Yes☑No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller Kilroy Realty Corporation Non-acceleratedfiler☐Smallerreportingcompany If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Kilroy Realty, L.P. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). As of May2, 2025,118,280,582shares of Kilroy Realty Corporation common stock, par value $.01 per share, were outstanding. EXPLANATORY NOTE This report combines the quarterly reports on Form 10-Q for the period ended March 31, 2025 of Kilroy Realty Corporation andKilroy Realty, L.P. Unless stated otherwise or the context otherwise requires, references to “Kilroy Realty Corporation” or the“Company,” “we,” “our,” and “us” mean Kilroy Realty Corporation, a Maryland corporation, and its controlled and consolidated The Company is a real estate investment trust, or REIT, and the general partner of the Operating Partnership. As of March 31,2025, the Company owned an approximate 99.0% common general partnership interest in the Operating Partnership. The remainingapproximate 1.0% common limited partnership interests are owned by non-affiliated investors. As the sole general partner of theOperating Partnership, the Company exercises exclusive and complete discretion over the Operating Partnership’s day-to-day There are a few differences between the Company and the Operating Partnership that are reflected in the disclosures in this Form10-Q. We believe it is important to understand the differences between the Company and the Operating Partnership in the context ofhow the Company and the Operating Partnership operate as an interrelated, consolidated company. The Company is a REIT, the onlymaterial asset of which is the partnership interests it holds in the Operating Partnership. As a result, the Company generally does notconduct business itself, other than acting as the sole general partner of the Operating Partnership, issuing equity from time to time andguaranteeing certain debt of the Operating Partnership. The Company itself is not directly obligated under any indebtedness, butgenerally guarantees all of the debt of the Operating Partnership. The Operating Partnership owns substantially all of the assets of the Noncontrolling interests, stockholders’ equity, and partners’ capital are the main areas of difference between the consolidatedfinancial statements of the Company and those of the Operating Partnership. The common limited partnership interests in theOperating Partnership are accounted for as partners’ capital in the Operating Partnership’s financial statements and, to the extent not We believe combining the quarterly reports on Form 10-Q of the Company and the Operating Partnership into this single reportresults in the following benefits: •Combined reports better reflect how management and the analyst community view the business as a single operating unit;•Combined reports enhance investors’ understanding of the Company and the Operating Partnership by enabling them to viewthe business as a whole and in the same manner as management; To help investors understand the significant differences between the Company and the Operating Partnership, this report presentsthe following separate sections for each of the Company and the Operating Partnership: •consolidated financial statements; •the following notes to the consolidated financial statements: ◦Note 10, Net Income Available