2023 Q2 Form 10-Q Financial Statement

#000128604323000046 Filed on May 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $208.8M $206.8M
YoY Change 3.04% 6.36%
Cost Of Revenue $53.93M $54.50M
YoY Change -0.14% 3.24%
Gross Profit $154.8M $152.3M
YoY Change 4.19% 7.52%
Gross Profit Margin 74.17% 73.64%
Selling, General & Admin $14.50M $13.38M
YoY Change 5.0% 0.56%
% of Gross Profit 9.36% 8.79%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $109.5M $109.0M
YoY Change -8.28% -10.32%
% of Gross Profit 70.7% 71.56%
Operating Expenses $124.0M $121.5M
YoY Change -7.19% -9.91%
Operating Profit $30.87M $30.80M
YoY Change -20.88% 240.91%
Interest Expense -$27.21M $25.43M
YoY Change -205.82% -0.35%
% of Operating Profit -88.13% 82.55%
Other Income/Expense, Net $304.0K $403.0K
YoY Change -287.65% -491.26%
Pretax Income $32.41M $5.776M
YoY Change 146.58% -134.83%
Income Tax $45.00K -$29.00K
% Of Pretax Income 0.14% -0.5%
Net Earnings $32.06M $5.391M
YoY Change 144.14% -132.08%
Net Earnings / Revenue 15.36% 2.61%
Basic Earnings Per Share $0.15 $0.02
Diluted Earnings Per Share $0.15 $0.02
COMMON SHARES
Basic Shares Outstanding 219.3M shares 219.2M shares
Diluted Shares Outstanding 220.0M shares 220.0M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $129.3M $43.73M
YoY Change 42.36% -41.18%
Cash & Equivalents $129.3M $43.73M
Short-Term Investments
Other Short-Term Assets $130.5M $117.4M
YoY Change 23.1% 21.96%
Inventory
Prepaid Expenses
Receivables $109.6M $103.5M
Other Receivables $0.00 $0.00
Total Short-Term Assets $369.3M $264.6M
YoY Change 34.95% 10.37%
LONG-TERM ASSETS
Property, Plant & Equipment $6.426B $6.509B
YoY Change -2.9% -2.52%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $10.31M $10.34M
YoY Change -1.2% -12.61%
Other Assets $359.4M $413.2M
YoY Change -25.58% -20.57%
Total Long-Term Assets $6.796B $6.932B
YoY Change -4.44% -5.48%
TOTAL ASSETS
Total Short-Term Assets $369.3M $264.6M
Total Long-Term Assets $6.796B $6.932B
Total Assets $7.165B $7.197B
YoY Change -2.98% -4.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $178.2M $160.1M
YoY Change 33.21% 28.95%
Accrued Expenses $68.17M $67.97M
YoY Change 0.32% -3.4%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $178.2M $229.1M
YoY Change -11.66% 17.73%
LONG-TERM LIABILITIES
Long-Term Debt $2.938B $2.973B
YoY Change -2.11% -6.5%
Other Long-Term Liabilities $289.7M $226.8M
YoY Change 26.8% -3.86%
Total Long-Term Liabilities $3.228B $3.199B
YoY Change -0.06% -6.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $178.2M $229.1M
Total Long-Term Liabilities $3.228B $3.199B
Total Liabilities $3.472B $3.428B
YoY Change 1.19% -5.02%
SHAREHOLDERS EQUITY
Retained Earnings -$1.276B -$1.255B
YoY Change 21.26% 22.88%
Common Stock $2.194M $2.193M
YoY Change 0.14% 0.14%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.693B $3.706B
YoY Change
Total Liabilities & Shareholders Equity $7.165B $7.197B
YoY Change -2.98% -4.97%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $32.06M $5.391M
YoY Change 144.14% -132.08%
Depreciation, Depletion And Amortization $109.5M $109.0M
YoY Change -8.28% -10.32%
Cash From Operating Activities $116.8M $63.60M
YoY Change 11.54% 28.28%
INVESTING ACTIVITIES
Capital Expenditures $28.65M $39.12M
YoY Change -181.89% -264.71%
Acquisitions
YoY Change
Other Investing Activities $78.17M -$2.393M
YoY Change -52.85% -93.77%
Cash From Investing Activities $49.53M -$41.51M
YoY Change -62.14% -33.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $199.3M
YoY Change 372.35%
Cash From Financing Activities -84.09M -$91.36M
YoY Change -61.53% 1539.4%
NET CHANGE
Cash From Operating Activities 116.8M $63.60M
Cash From Investing Activities 49.53M -$41.51M
Cash From Financing Activities -84.09M -$91.36M
Net Change In Cash 82.26M -$69.28M
YoY Change 384.96% 281.2%
FREE CASH FLOW
Cash From Operating Activities $116.8M $63.60M
Capital Expenditures $28.65M $39.12M
Free Cash Flow $88.18M $24.48M
YoY Change -36.89% -66.62%

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CY2022Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
44262000 usd
CY2023Q1 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
39121000 usd
CY2022Q1 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
23752000 usd
CY2023Q1 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
0 usd
CY2022Q1 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
6904000 usd
CY2023Q1 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
146000 usd
CY2022Q1 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
226000 usd
CY2023Q1 krg Increase Decrease In Retainage Payable Investing
IncreaseDecreaseInRetainagePayableInvesting
-2552000 usd
CY2022Q1 krg Increase Decrease In Retainage Payable Investing
IncreaseDecreaseInRetainagePayableInvesting
-1299000 usd
CY2023Q1 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
13000 usd
CY2022Q1 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
0 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-41514000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-62183000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-69275000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-18173000 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
25000 usd
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
14000 usd
CY2023Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
730000 usd
CY2022Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
939000 usd
CY2023Q1 us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
47000 usd
CY2022Q1 us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
263000 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
162000000 usd
CY2022Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
80000000 usd
CY2023Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
199336000 usd
CY2022Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
42201000 usd
CY2023Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
52605000 usd
CY2022Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
41600000 usd
CY2023Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
671000 usd
CY2022Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
584000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-91364000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-5573000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
121970000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
100363000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
52695000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
82190000 usd
CY2023Q1 us-gaap Nature Of Operations
NatureOfOperations
ORGANIZATION AND BASIS OF PRESENTATION<div style="margin-bottom:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Kite Realty Group Trust (the “Parent Company”), through its majority-owned subsidiary, Kite Realty Group, L.P. (the “Operating Partnership”), owns interests in various operating subsidiaries and joint ventures engaged in the ownership, operation, acquisition, development and redevelopment of high-quality, open-air shopping centers and mixed-use assets in select markets in the United States. The terms “Company,” “we,” “us,” and “our” refer to the Parent Company and the Operating Partnership, collectively, and those entities owned or controlled by the Parent Company and/or the Operating Partnership.</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Operating Partnership was formed on August 16, 2004, when the Parent Company contributed properties and the net proceeds from an initial public offering of shares of its common stock to the Operating Partnership. The Parent Company was organized in Maryland in 2004 to succeed in the development, acquisition, construction and real estate businesses of its predecessor. We believe the Company qualifies as a real estate investment trust (“REIT”) under provisions of the Internal Revenue Code of 1986, as amended.</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Parent Company is the sole general partner of the Operating Partnership, and as of March 31, 2023 owned approximately 98.6% of the common partnership interests in the Operating Partnership (“General Partner Units”). The remaining 1.4% of the common partnership interests (“Limited Partner Units” and, together with the General Partner Units, the “Common Units”) were owned by the limited partners. As the sole general partner of the Operating Partnership, the Parent Company has full, exclusive and complete responsibility and discretion in the day-to-day management and control of the Operating Partnership. The Parent Company and the Operating Partnership are operated as one enterprise. The management of the Parent Company consists of the same members as the management of the Operating Partnership. As the sole general partner with control of the Operating Partnership, the Parent Company consolidates the Operating Partnership for financial reporting purposes, and the Parent Company does not have any significant assets other than its investment in the Operating Partnership.</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying unaudited financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in the financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) may have been condensed or omitted pursuant to such rules and regulations, although management believes that the disclosures are adequate to make the presentation not misleading. The unaudited financial statements as of March 31, 2023 and for the three months ended March 31, 2023 and 2022 include all adjustments, consisting of normal recurring adjustments, necessary in the opinion of management to present fairly the financial information set forth therein. The consolidated financial statements in this Form 10-Q should be read in conjunction with the audited consolidated financial statements and related notes thereto included in the combined Annual Report on Form 10-K of the Parent Company and the Operating Partnership for the year ended December 31, 2022.</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and revenues and expenses during the reported period. Actual results could differ from these estimates. The results of operations for the interim periods are not necessarily indicative of the results that may be expected on an annual basis.</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of March 31, 2023, the Company’s portfolio consisted of the following </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">(square footage in thousands)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">:</span></div><div style="margin-bottom:10pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:67.714%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.516%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:2.728%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.542%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Properties</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Square Footage</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Operating retail properties</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">181 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">28,545 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Office properties</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">287 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Development and redevelopment projects:</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.2pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">The Landing at Tradition – Phase II</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">40 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 8.2pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Carillon medical office building</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">126 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">The Corner (IN)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:100%">24 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:7.52pt">Included within operating retail properties are 11 properties that contain an office component. Excludes one operating retail property classified as held for sale as of March 31, 2023. Of the 181 operating retail properties, 178 are consolidated in these financial statements and the remaining three are accounted for under the equity method.</span></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:7.52pt">The operating portion of this property is included within the property count for operating retail properties.</span></div>
CY2023Q1 krg Land Investment Building And Improvements
LandInvestmentBuildingAndImprovements
7625276000 usd
CY2022Q4 krg Land Investment Building And Improvements
LandInvestmentBuildingAndImprovements
7656765000 usd
CY2023Q1 us-gaap Development In Process
DevelopmentInProcess
94401000 usd
CY2022Q4 us-gaap Development In Process
DevelopmentInProcess
75808000 usd
CY2023Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
7719677000 usd
CY2022Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
7732573000 usd
CY2023Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
158590000 usd
CY2022Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
149824000 usd
CY2023Q1 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
39754000 usd
CY2022Q1 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
37025000 usd
CY2023Q1 krg Operating Lease Credit Loss Recovery Reserve
OperatingLeaseCreditLossRecoveryReserve
1555000 usd
CY2022Q1 krg Operating Lease Credit Loss Recovery Reserve
OperatingLeaseCreditLossRecoveryReserve
571000 usd
CY2023Q1 krg Operating Lease Straight Line Rent Adjustments
OperatingLeaseStraightLineRentAdjustments
3858000 usd
CY2022Q1 krg Operating Lease Straight Line Rent Adjustments
OperatingLeaseStraightLineRentAdjustments
4093000 usd
CY2023Q1 krg Operating Lease Straight Line Rent Recovery Reserve For Uncollectibility
OperatingLeaseStraightLineRentRecoveryReserveForUncollectibility
314000 usd
CY2022Q1 krg Operating Lease Straight Line Rent Recovery Reserve For Uncollectibility
OperatingLeaseStraightLineRentRecoveryReserveForUncollectibility
62000 usd
CY2023Q1 krg Operating Lease Amortization Of In Place Lease Liabilities
OperatingLeaseAmortizationOfInPlaceLeaseLiabilities
2730000 usd
CY2022Q1 krg Operating Lease Amortization Of In Place Lease Liabilities
OperatingLeaseAmortizationOfInPlaceLeaseLiabilities
583000 usd
CY2023Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
203063000 usd
CY2022Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
190892000 usd
CY2023Q1 krg Variable Interest Entity Number Of Entities
VariableInterestEntityNumberOfEntities
2 jointventure
CY2022Q4 us-gaap Minority Interest
MinorityInterest
5370000 usd
CY2021Q4 us-gaap Minority Interest
MinorityInterest
5146000 usd
CY2023Q1 us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossAttributableToNonredeemableNoncontrollingInterest
104000 usd
CY2022Q1 us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossAttributableToNonredeemableNoncontrollingInterest
12000 usd
CY2023Q1 us-gaap Minority Interest
MinorityInterest
5474000 usd
CY2022Q1 us-gaap Minority Interest
MinorityInterest
5158000 usd
CY2023Q1 us-gaap Limited Partners Capital Account Units Outstanding
LimitedPartnersCapitalAccountUnitsOutstanding
3034212 shares
CY2022Q4 us-gaap Limited Partners Capital Account Units Outstanding
LimitedPartnersCapitalAccountUnitsOutstanding
2870697 shares
CY2023Q1 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
491585000 usd
CY2022Q4 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
522152000 usd
CY2023Q1 krg Deferred Leasing Costs And Other
DeferredLeasingCostsAndOther
68336000 usd
CY2022Q4 krg Deferred Leasing Costs And Other
DeferredLeasingCostsAndOther
66842000 usd
CY2023Q1 krg Deferred Costs Gross
DeferredCostsGross
559921000 usd
CY2022Q4 krg Deferred Costs Gross
DeferredCostsGross
588994000 usd
CY2023Q1 krg Deferred Costs Accumulated Amortization
DeferredCostsAccumulatedAmortization
178278000 usd
CY2022Q4 krg Deferred Costs Accumulated Amortization
DeferredCostsAccumulatedAmortization
179166000 usd
CY2023Q1 krg Deferred Costs Including Asset Held For Sale
DeferredCostsIncludingAssetHeldForSale
381643000 usd
CY2022Q4 krg Deferred Costs Including Asset Held For Sale
DeferredCostsIncludingAssetHeldForSale
409828000 usd
CY2023Q1 krg Deferred Costs Asset Held For Sale
DeferredCostsAssetHeldForSale
104000 usd
CY2022Q4 krg Deferred Costs Asset Held For Sale
DeferredCostsAssetHeldForSale
0 usd
CY2023Q1 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
381539000 usd
CY2022Q4 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
409828000 usd
CY2023Q1 krg Amortization Of Deferred Leasing Costs Lease Intangibles And Other
AmortizationOfDeferredLeasingCostsLeaseIntangiblesAndOther
28481000 usd
CY2022Q1 krg Amortization Of Deferred Leasing Costs Lease Intangibles And Other
AmortizationOfDeferredLeasingCostsLeaseIntangiblesAndOther
42829000 usd
CY2023Q1 krg Amortization Of Above Market Lease Intangibles
AmortizationOfAboveMarketLeaseIntangibles
3183000 usd
CY2022Q1 krg Amortization Of Above Market Lease Intangibles
AmortizationOfAboveMarketLeaseIntangibles
3275000 usd
CY2023Q1 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
182903000 usd
CY2022Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
188815000 usd
CY2023Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
13671000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
12110000 usd
CY2023Q1 us-gaap Advance Rent
AdvanceRent
30876000 usd
CY2022Q4 us-gaap Advance Rent
AdvanceRent
29947000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
67972000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
67167000 usd
CY2023Q1 krg Other Liabilities Including Asset Held For Sale
OtherLiabilitiesIncludingAssetHeldForSale
295422000 usd
CY2022Q4 krg Other Liabilities Including Asset Held For Sale
OtherLiabilitiesIncludingAssetHeldForSale
298039000 usd
CY2023Q1 krg Other Liabilities Asset Held For Sale
OtherLiabilitiesAssetHeldForSale
662000 usd
CY2022Q4 krg Other Liabilities Asset Held For Sale
OtherLiabilitiesAssetHeldForSale
0 usd
CY2023Q1 us-gaap Other Liabilities
OtherLiabilities
294760000 usd
CY2022Q4 us-gaap Other Liabilities
OtherLiabilities
298039000 usd
CY2023Q1 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
5900000 usd
CY2022Q1 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
3900000 usd
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2940920000 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2978256000 usd
CY2023Q1 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
-43145000 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
-44362000 usd
CY2023Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
11498000 usd
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
12319000 usd
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
2972567000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
3010299000 usd
CY2023Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
-31647000 usd
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
2972567000 usd
CY2023Q1 krg Percentage Of Total
PercentageOfTotal
1
CY2023Q1 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0434
CY2023Q1 krg Weighted Average Maturity
WeightedAverageMaturity
P4Y2M12D
CY2023Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
300000 usd
CY2023Q1 krg Letters Of Credit Outstanding Amount Advanced
LettersOfCreditOutstandingAmountAdvanced
0 usd
CY2023Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
888000 usd
CY2022Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
650000 usd
CY2023Q1 us-gaap Longterm Debt Percentage Bearing Fixed Interest Amount
LongtermDebtPercentageBearingFixedInterestAmount
2000000000 usd
CY2023Q1 us-gaap Longterm Debt Percentage Bearing Variable Interest Amount
LongtermDebtPercentageBearingVariableInterestAmount
973100000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
4200000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
-4100000 usd
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.24
CY2022Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.20
CY2023Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
300000000 usd
CY2023Q1 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
0 shares
CY2023Q1 us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
3000000 shares
CY2022Q1 us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
2400000 shares
CY2022Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2023Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
300000 usd
CY2023Q1 krg Letters Of Credit Outstanding Amount Advanced
LettersOfCreditOutstandingAmountAdvanced
0 usd

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0001286043-23-000046.txt Edgar Link pending
0001286043-23-000046-xbrl.zip Edgar Link pending
exhibit3113-31x23.htm Edgar Link pending
exhibit3123-31x23.htm Edgar Link pending
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exhibit3143-31x23.htm Edgar Link pending
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