2024 Q2 Form 10-Q Financial Statement

#000128604324000041 Filed on May 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $212.4M $207.4M
YoY Change 1.76% 0.33%
Cost Of Revenue $55.06M $54.62M
YoY Change 2.09% 0.22%
Gross Profit $157.4M $152.8M
YoY Change 1.65% 0.38%
Gross Profit Margin 74.08% 73.67%
Selling, General & Admin $12.97M $12.78M
YoY Change -10.57% -4.48%
% of Gross Profit 8.24% 8.37%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $99.29M $100.4M
YoY Change -9.29% -7.87%
% of Gross Profit 63.09% 65.68%
Operating Expenses $112.3M $113.2M
YoY Change -9.44% -6.83%
Operating Profit -$22.31M $39.66M
YoY Change -172.28% 28.78%
Interest Expense -$30.98M -$30.36M
YoY Change 13.88% -219.43%
% of Operating Profit -76.56%
Other Income/Expense, Net $4.295M $3.628M
YoY Change 1312.83% 800.25%
Pretax Income -$49.00M $15.01M
YoY Change -251.19% 159.94%
Income Tax $132.0K $158.0K
% Of Pretax Income 1.05%
Net Earnings -$48.64M $14.16M
YoY Change -251.72% 162.59%
Net Earnings / Revenue -22.9% 6.82%
Basic Earnings Per Share -$0.22 $0.06
Diluted Earnings Per Share -$0.22 $0.06
COMMON SHARES
Basic Shares Outstanding 219.6M shares 219.4M shares
Diluted Shares Outstanding 219.6M shares 219.9M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $153.8M $83.58M
YoY Change 19.02% 91.11%
Cash & Equivalents $153.8M $83.58M
Short-Term Investments
Other Short-Term Assets $114.2M $131.8M
YoY Change -12.51% 12.21%
Inventory
Prepaid Expenses
Receivables $120.0M $118.1M
Other Receivables $0.00 $0.00
Total Short-Term Assets $388.0M $333.4M
YoY Change 5.07% 25.99%
LONG-TERM ASSETS
Property, Plant & Equipment $6.099B $6.306B
YoY Change -5.1% -3.12%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $9.970M $274.6M
YoY Change -3.31% 2555.44%
Other Assets $342.4M $290.8M
YoY Change -4.74% -29.62%
Total Long-Term Assets $6.571B $6.871B
YoY Change -3.31% -0.88%
TOTAL ASSETS
Total Short-Term Assets $388.0M $333.4M
Total Long-Term Assets $6.571B $6.871B
Total Assets $6.959B $7.204B
YoY Change -2.88% 0.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $189.7M $171.6M
YoY Change 6.43% 7.14%
Accrued Expenses $68.04M $68.48M
YoY Change -0.19% 0.75%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $193.6M $171.6M
YoY Change 8.64% -25.09%
LONG-TERM LIABILITIES
Long-Term Debt $3.016B $3.168B
YoY Change 2.64% 6.56%
Other Long-Term Liabilities $250.1M $259.0M
YoY Change -13.66% 14.2%
Total Long-Term Liabilities $3.266B $3.426B
YoY Change 1.18% 7.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $193.6M $171.6M
Total Long-Term Liabilities $3.266B $3.426B
Total Liabilities $3.459B $3.674B
YoY Change -0.37% 7.15%
SHAREHOLDERS EQUITY
Retained Earnings -$1.517B -$1.414B
YoY Change 18.95% 12.65%
Common Stock $2.197M $2.196M
YoY Change 0.14% 0.14%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.422B $3.531B
YoY Change
Total Liabilities & Shareholders Equity $6.959B $7.204B
YoY Change -2.88% 0.1%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$48.64M $14.16M
YoY Change -251.72% 162.59%
Depreciation, Depletion And Amortization $99.29M $100.4M
YoY Change -9.29% -7.87%
Cash From Operating Activities $142.1M $53.58M
YoY Change 21.64% -15.76%
INVESTING ACTIVITIES
Capital Expenditures $38.93M $28.20M
YoY Change 35.9% -27.92%
Acquisitions
YoY Change
Other Investing Activities $173.7M -$261.1M
YoY Change 122.16% 10812.58%
Cash From Investing Activities $134.7M -$289.3M
YoY Change 172.05% 596.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $41.27M
YoY Change -79.3%
Cash From Financing Activities -206.8M $283.3M
YoY Change 145.94% -410.07%
NET CHANGE
Cash From Operating Activities 142.1M $53.58M
Cash From Investing Activities 134.7M -$289.3M
Cash From Financing Activities -206.8M $283.3M
Net Change In Cash 70.03M $47.53M
YoY Change -14.87% -168.62%
FREE CASH FLOW
Cash From Operating Activities $142.1M $53.58M
Capital Expenditures $38.93M $28.20M
Free Cash Flow $103.2M $25.38M
YoY Change 17.01% 3.67%

Facts In Submission

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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
52695000 usd
CY2024Q1 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 that are primarily grocery-anchored and located in high-growth Sun Belt markets and select strategic gateway 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 (“IPO”) 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 sections 856-860 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, 2024, owned approximately 98.3% of the common partnership interests in the Operating Partnership (“General Partner Units”). The remaining 1.7% 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 consolidated 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 consolidated financial statements as of March 31, 2024 and for the three months ended March 31, 2024 and 2023 include all adjustments, consisting of normal recurring adjustments, necessary in the opinion of management to present fairly the financial information set forth therein. The unaudited 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, 2023.</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, 2024, the Company’s portfolio consisted of the following:</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><td style="width:67.714%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.516%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.728%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.542%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><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><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%">180 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></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%">28,096,542 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></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><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></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%">287,291 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></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><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></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%">Carillon medical office building</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><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></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%">126,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;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 Corner – IN</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:#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><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></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%">24,000 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></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%">Hamilton Crossing Centre</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><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></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%">92,283 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></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%">Edwards Multiplex – Ontario</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><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></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%">124,614 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></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 10 properties that contain an office component. Of the 180 operating retail properties, 177 are consolidated within 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">This property is held in an unconsolidated joint venture in which the Company has a 50% ownership interest.</span></div>
CY2024Q1 krg Land Investment Building And Improvements
LandInvestmentBuildingAndImprovements
7696890000 usd
CY2023Q4 krg Land Investment Building And Improvements
LandInvestmentBuildingAndImprovements
7684066000 usd
CY2024Q1 us-gaap Development In Process
DevelopmentInProcess
61482000 usd
CY2023Q4 us-gaap Development In Process
DevelopmentInProcess
55995000 usd
CY2024Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
7758372000 usd
CY2023Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
7740061000 usd
CY2024Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
160540000 usd
CY2023Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
158590000 usd
CY2024Q1 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
40470000 usd
CY2023Q1 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
39754000 usd
CY2024Q1 us-gaap Net Investment In Lease Credit Loss Expense Reversal
NetInvestmentInLeaseCreditLossExpenseReversal
589000 usd
CY2023Q1 us-gaap Net Investment In Lease Credit Loss Expense Reversal
NetInvestmentInLeaseCreditLossExpenseReversal
1555000 usd
CY2024Q1 krg Operating Lease Straight Line Rent Adjustments
OperatingLeaseStraightLineRentAdjustments
3363000 usd
CY2023Q1 krg Operating Lease Straight Line Rent Adjustments
OperatingLeaseStraightLineRentAdjustments
3858000 usd
CY2024Q1 krg Operating Lease Straight Line Rent Recovery Reserve For Uncollectibility
OperatingLeaseStraightLineRentRecoveryReserveForUncollectibility
237000 usd
CY2023Q1 krg Operating Lease Straight Line Rent Recovery Reserve For Uncollectibility
OperatingLeaseStraightLineRentRecoveryReserveForUncollectibility
314000 usd
CY2024Q1 krg Operating Lease Amortization Of In Place Lease Liabilities
OperatingLeaseAmortizationOfInPlaceLeaseLiabilities
2266000 usd
CY2023Q1 krg Operating Lease Amortization Of In Place Lease Liabilities
OperatingLeaseAmortizationOfInPlaceLeaseLiabilities
2730000 usd
CY2024Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
205813000 usd
CY2023Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
203063000 usd
CY2024Q1 us-gaap Short Term Investments
ShortTermInvestments
265000000 usd
CY2024Q1 krg Short Term Investments Interest Rate
ShortTermInvestmentsInterestRate
0.0534
CY2024Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
2900000 usd
CY2024Q1 krg Variable Interest Entity Number Of Entities
VariableInterestEntityNumberOfEntities
2 jointventure
CY2024Q1 krg Number Of Equity Method Investments
NumberOfEquityMethodInvestments
4 jointventure
CY2023Q4 us-gaap Minority Interest
MinorityInterest
2430000 usd
CY2022Q4 us-gaap Minority Interest
MinorityInterest
5370000 usd
CY2024Q1 us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossAttributableToNonredeemableNoncontrollingInterest
67000 usd
CY2023Q1 us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossAttributableToNonredeemableNoncontrollingInterest
104000 usd
CY2024Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
620000 usd
CY2023Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
0 usd
CY2024Q1 us-gaap Minority Interest
MinorityInterest
1877000 usd
CY2023Q1 us-gaap Minority Interest
MinorityInterest
5474000 usd
CY2024Q1 us-gaap Limited Partners Capital Account Units Outstanding
LimitedPartnersCapitalAccountUnitsOutstanding
3707004 shares
CY2023Q4 us-gaap Limited Partners Capital Account Units Outstanding
LimitedPartnersCapitalAccountUnitsOutstanding
3512868 shares
CY2024Q1 krg Debt Instrument Unamortized Discount Premium And Hedge Instruments
DebtInstrumentUnamortizedDiscountPremiumAndHedgeInstruments
-39785000 usd
CY2024Q1 krg Debt Instrument Unamortized Hedge Instruments Included Within Accumulated Other Comprehensive Income
DebtInstrumentUnamortizedHedgeInstrumentsIncludedWithinAccumulatedOtherComprehensiveIncome
2511000 usd
CY2024Q1 krg Debt Instrument Interest Rate Derivative At Fair Value
DebtInstrumentInterestRateDerivativeAtFairValue
9207000 usd
CY2024Q1 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
405513000 usd
CY2023Q4 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
433771000 usd
CY2024Q1 krg Deferred Leasing Costs And Other
DeferredLeasingCostsAndOther
78858000 usd
CY2023Q4 krg Deferred Leasing Costs And Other
DeferredLeasingCostsAndOther
74662000 usd
CY2024Q1 krg Deferred Costs Gross
DeferredCostsGross
484371000 usd
CY2023Q4 krg Deferred Costs Gross
DeferredCostsGross
508433000 usd
CY2024Q1 krg Deferred Costs Accumulated Amortization
DeferredCostsAccumulatedAmortization
198919000 usd
CY2023Q4 krg Deferred Costs Accumulated Amortization
DeferredCostsAccumulatedAmortization
204262000 usd
CY2024Q1 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
285452000 usd
CY2023Q4 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
304171000 usd
CY2024Q1 us-gaap Longterm Debt Percentage Bearing Fixed Interest Amount
LongtermDebtPercentageBearingFixedInterestAmount
2300000000 usd
CY2024Q1 us-gaap Longterm Debt Percentage Bearing Variable Interest Amount
LongtermDebtPercentageBearingVariableInterestAmount
836400000 usd
CY2024Q1 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
-28067000 usd
CY2024Q1 krg Amortization Of Deferred Leasing Costs Lease Intangibles And Other
AmortizationOfDeferredLeasingCostsLeaseIntangiblesAndOther
21278000 usd
CY2023Q1 krg Amortization Of Deferred Leasing Costs Lease Intangibles And Other
AmortizationOfDeferredLeasingCostsLeaseIntangiblesAndOther
28481000 usd
CY2024Q1 krg Amortization Of Above Market Lease Intangibles
AmortizationOfAboveMarketLeaseIntangibles
2704000 usd
CY2023Q1 krg Amortization Of Above Market Lease Intangibles
AmortizationOfAboveMarketLeaseIntangibles
3183000 usd
CY2024Q1 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
154478000 usd
CY2023Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
159449000 usd
CY2024Q1 krg Retainages Payable And Other
RetainagesPayableAndOther
9908000 usd
CY2023Q4 krg Retainages Payable And Other
RetainagesPayableAndOther
9229000 usd
CY2024Q1 us-gaap Advance Rent
AdvanceRent
26115000 usd
CY2023Q4 us-gaap Advance Rent
AdvanceRent
35339000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
68484000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
68925000 usd
CY2024Q1 us-gaap Other Liabilities
OtherLiabilities
258985000 usd
CY2023Q4 us-gaap Other Liabilities
OtherLiabilities
272942000 usd
CY2024Q1 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
5000000 usd
CY2023Q1 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
5900000 usd
CY2024Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3151673000 usd
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2802941000 usd
CY2024Q1 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
-28067000 usd
CY2023Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
-35765000 usd
CY2024Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
12227000 usd
CY2023Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
9504000 usd
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
3167513000 usd
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
2829202000 usd
CY2024Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
-15840000 usd
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
3167513000 usd
CY2024Q1 krg Percentage Of Total
PercentageOfTotal
1
CY2024Q1 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0433
CY2024Q1 krg Weighted Average Maturity
WeightedAverageMaturity
P4Y1M6D
CY2024Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
929000 usd
CY2023Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
888000 usd
CY2024Q1 krg Amortization Of Debt Discounts Premiums And Hedge Instruments
AmortizationOfDebtDiscountsPremiumsAndHedgeInstruments
3756000 usd
CY2023Q1 krg Amortization Of Debt Discounts Premiums And Hedge Instruments
AmortizationOfDebtDiscountsPremiumsAndHedgeInstruments
5003000 usd
CY2024Q1 krg Debt Instrument Unamortized Discount Premium And Hedge Instruments Remainder Of Fiscal Year
DebtInstrumentUnamortizedDiscountPremiumAndHedgeInstrumentsRemainderOfFiscalYear
-9955000 usd
CY2024Q1 krg Debt Instrument Unamortized Discount Premium And Hedge Instruments Year One
DebtInstrumentUnamortizedDiscountPremiumAndHedgeInstrumentsYearOne
-7807000 usd
CY2024Q1 krg Debt Instrument Unamortized Discount Premium And Hedge Instruments Year Two
DebtInstrumentUnamortizedDiscountPremiumAndHedgeInstrumentsYearTwo
-6152000 usd
CY2024Q1 krg Debt Instrument Unamortized Discount Premium And Hedge Instruments Year Three
DebtInstrumentUnamortizedDiscountPremiumAndHedgeInstrumentsYearThree
-5235000 usd
CY2024Q1 krg Debt Instrument Unamortized Discount Premium And Hedge Instruments Year Four
DebtInstrumentUnamortizedDiscountPremiumAndHedgeInstrumentsYearFour
-5225000 usd
CY2024Q1 krg Debt Instrument Unamortized Discount Premium And Hedge Instruments After Year Four
DebtInstrumentUnamortizedDiscountPremiumAndHedgeInstrumentsAfterYearFour
-5411000 usd
CY2024Q1 krg Debt Instrument Unamortized Discount Premium And Hedge Instruments
DebtInstrumentUnamortizedDiscountPremiumAndHedgeInstruments
-39785000 usd
CY2024Q1 krg Debt Instrument Unamortized Discount Premium Excluding Hedge Instruments
DebtInstrumentUnamortizedDiscountPremiumExcludingHedgeInstruments
-37274000 usd
CY2024Q1 krg Debt Instrument Unamortized Hedge Instruments
DebtInstrumentUnamortizedHedgeInstruments
-2511000 usd
CY2024Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
4900000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
4200000 usd
CY2024Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.25
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.24
CY2024Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
300000000 usd
CY2024Q1 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
0 shares
CY2024Q1 us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
3600000 shares
CY2023Q1 us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
3000000 shares
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

Files In Submission

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0001286043-24-000041-index-headers.html Edgar Link pending
0001286043-24-000041-index.html Edgar Link pending
0001286043-24-000041.txt Edgar Link pending
0001286043-24-000041-xbrl.zip Edgar Link pending
exhibit3113-31x24.htm Edgar Link pending
exhibit3123-31x24.htm Edgar Link pending
exhibit3133-31x24.htm Edgar Link pending
exhibit3143-31x24.htm Edgar Link pending
exhibit3213-31x24.htm Edgar Link pending
exhibit3223-31x24.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
krg-20240331.htm Edgar Link pending
krg-20240331.xsd Edgar Link pending
MetaLinks.json Edgar Link pending
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krg-20240331_cal.xml Edgar Link unprocessable
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krg-20240331_htm.xml Edgar Link completed
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report.css Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable