Company: KBSR
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001482430-25-000021
Chunk: 63

Company: KBS Real Estate Investment Trust III, Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 15
Chunk 63
---
 its subsidiaries has been assessed interest or penalties by any major tax jurisdictions.  The Company’s evaluations were performed for all open tax years through December 31, 2024.  As of December 31, 2024, the returns for calendar years 2020 through 2023 remain subject to examination by major tax jurisdictions.  Per Share DataBasic net income (loss) per share of common stock is calculated by dividing net income (loss) attributable to common stockholders by the weighted-average number of shares of common stock issued and outstanding during such period.  Diluted net income (loss) per share of common stock equals basic net income (loss) per share of common stock as there were no potentially dilutive securities outstanding during the years ended December 31, 2024, 2023 and 2022, respectively.  Distributions declared per common share were $0.230 and $0.598 during the years ended December 31, 2023 and 2022, respectively.  Distributions declared per common share assumes each share was issued and outstanding each day that was a record date for distributions and were based on a monthly record date for each month during the period commencing January 2022 through December 2022 and January 2023 through June 2023.  No distributions were declared for the six months ended December 31, 2023 and the year ended December 31, 2024, respectively.  For each monthly record date for distributions during the period from January 1, 2022 through December 31, 2022, distributions were calculated at a rate of $0.04983333 per share.  For each monthly record date for distributions during the period from January 1, 2023 through June 30, 2023, distributions were calculated at a rate of $0.03833333 per share.Square Footage, Occupancy and Other MeasuresSquare footage, occupancy, number of tenants and other measures, including annualized base rent and annualized base rent per square foot, used to describe real estate investments included in these notes to the consolidated financial statements are presented on an unaudited basis.  Recently Issued Accounting Standards Update

In November 2023, the FASB issued accounting standards update (“ASU”) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”).  ASU 2023-07 is intended to improve report