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CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020
--- | --- | ---
REAL ESTATE ASSETS (Notes 2, 3 and 4): |  |
Land and improvements | $ 1,731,982 | $ 1,628,848
Buildings and improvements | 7,543,585 | 6,783,092
Undeveloped land and construction in progress | 2,017,126 | 1,778,106
Total real estate assets held for investment | 11,292,693 | 10,190,046
Accumulated depreciation and amortization | (2,003,656) | (1,798,646)
Total real estate assets held for investment, net | 9,289,037 | 8,391,400
CASH AND CASH EQUIVALENTS (Note 22) | 414,077 | 731,991
RESTRICTED CASH (Notes 4 and 22) | 13,006 | 91,139
MARKETABLE SECURITIES (Notes 16 and 19) | 27,475 | 27,481
CURRENT RECEIVABLES, NET (Notes 2 and 6) | 14,386 | 12,007
DEFERRED RENT RECEIVABLES, NET (Notes 2 and 6) | 405,665 | 386,658
DEFERRED LEASING COSTS AND ACQUISITION-RELATED INTANGIBLE ASSETS, NET (Notes 2, 3 and 5) | 234,458 | 210,949
RIGHT OF USE GROUND LEASE ASSETS (Note 18) | 127,302 | 95,523
PREPAID EXPENSES AND OTHER ASSETS, NET (Note 7) | 57,991 | 53,560
TOTAL ASSETS | 10,583,397 | 10,000,708
LIABILITIES: |  |
Secured debt, net (Notes 8, 9 and 19) | 248,367 | 253,582
Unsecured debt, net (Notes 8, 9 and 19) | 3,820,383 | 3,670,099
Accounts payable, accrued expenses and other liabilities (Note 18) | 391,264 | 445,100
Ground lease liabilities (Note 18) | 125,550 | 97,778
Accrued dividends and distributions (Notes 13 and 25) | 61,850 | 59,431
Deferred revenue and acquisition-related intangible liabilities, net (Notes 2, 3, 5 and 10) | 171,151 | 128,523
Rents received in advance and tenant security deposits | 74,962 | 68,874
Total liabilities | 4,893,527 | 4,723,387
COMMITMENTS AND CONTINGENCIES (Note 18) |  |
Stockholders’ Equity (Note 13): |  |
Common stock, $.01 par value, 280,000,000 shares authorized, 116,464,169 and 116,035,827 shares issued and outstanding, respectively | 1,165 | 1,160
Additional paid-in capital | 5,155,232 | 5,131,916
Retained earnings (distributions in excess of earnings) | 283,663 | (103,133)
Total stockholders’ equity | 5,440,060 | 5,029,943
Noncontrolling Interests (Notes 2 and 11): |  |
Common units of the Operating Partnership | 53,746 | 49,875
Noncontrolling interests in consolidated property partnerships | 196,064 | 197,503
Total noncontrolling interests | 249,810 | 247,378
Total equity | 5,689,870 | 5,277,321
CAPITAL: |  |
TOTAL LIABILITIES AND EQUITY | 10,583,397 | 10,000,708
Kilroy Realty L.P. |  |
REAL ESTATE ASSETS (Notes 2, 3 and 4): |  |
Land and improvements | 1,731,982 | 1,628,848
Buildings and improvements | 7,543,585 | 6,783,092
Undeveloped land and construction in progress | 2,017,126 | 1,778,106
Total real estate assets held for investment | 11,292,693 | 10,190,046
Accumulated depreciation and amortization | (2,003,656) | (1,798,646)
Total real estate assets held for investment, net | 9,289,037 | 8,391,400
CASH AND CASH EQUIVALENTS (Note 22) | 414,077 | 731,991
RESTRICTED CASH (Notes 4 and 22) | 13,006 | 91,139
MARKETABLE SECURITIES (Notes 16 and 19) | 27,475 | 27,481
CURRENT RECEIVABLES, NET (Notes 2 and 6) | 14,386 | 12,007
DEFERRED RENT RECEIVABLES, NET (Notes 2 and 6) | 405,665 | 386,658
DEFERRED LEASING COSTS AND ACQUISITION-RELATED INTANGIBLE ASSETS, NET (Notes 2, 3 and 5) | 234,458 | 210,949
RIGHT OF USE GROUND LEASE ASSETS (Note 18) | 127,302 | 95,523
PREPAID EXPENSES AND OTHER ASSETS, NET (Note 7) | 57,991 | 53,560
TOTAL ASSETS | 10,583,397 | 10,000,708
LIABILITIES: |  |
Secured debt, net (Notes 8, 9 and 19) | 248,367 | 253,582
Unsecured debt, net (Notes 8, 9 and 19) | 3,820,383 | 3,670,099
Accounts payable, accrued expenses and other liabilities (Note 18) | 391,264 | 445,100
Ground lease liabilities (Note 18) | 125,550 | 97,778
Accrued dividends and distributions (Notes 13 and 25) | 61,850 | 59,431
Deferred revenue and acquisition-related intangible liabilities, net (Notes 2, 3, 5 and 10) | 171,151 | 128,523
Rents received in advance and tenant security deposits | 74,962 | 68,874
Total liabilities | 4,893,527 | 4,723,387
COMMITMENTS AND CONTINGENCIES (Note 18) |  |
CAPITAL: |  |
Common units, 116,464,169 and 116,035,827 held by the general partner and 1,150,574 and 1,150,574 held by common limited partners issued and outstanding, respectively (Note 14) | 5,493,806 | 5,079,818
Total partners’ capital | 5,493,806 | 5,079,818
Noncontrolling interests in consolidated property partnerships and subsidiaries (Notes 2 and 12) | 196,064 | 197,503
Total capital | 5,689,870 | 5,277,321
TOTAL LIABILITIES AND EQUITY | $ 10,583,397 | $ 10,000,708

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