XML 114 R38.htm IDEA: XBRL DOCUMENT v2.4.1.9
Segment Information (Tables)
12 Months Ended
Dec. 31, 2014
Segment Reporting [Abstract]  
Schedule Of Segment Information By Geographic Area And Property Type
Information by geographic area and property type (dollars in thousands):
For the year ended December 31, 2014:
 
Boston
 
New York
 
San
Francisco
 
Washington,
DC
 
Total
Rental Revenue:
 
 
 
 
 
 
 
 
 
Class A Office
$
692,116

 
$
928,692

 
$
237,381

 
$
381,930

 
$
2,240,119

Office/Technical
23,801

 

 
23,840

 
14,344

 
61,985

Residential
4,528

 

 

 
21,665

 
26,193

Hotel
43,385

 

 

 

 
43,385

Total
763,830

 
928,692

 
261,221

 
417,939

 
2,371,682

% of Grand Totals
32.21
%
 
39.16
%
 
11.01
%
 
17.62
%
 
100.00
%
Rental Expenses:
 
 
 
 
 
 
 
 
 
Class A Office
270,947

 
315,330

 
85,178

 
131,447

 
802,902

Office/Technical
7,173

 

 
4,955

 
4,338

 
16,466

Residential
1,957

 

 

 
13,965

 
15,922

Hotel
29,236

 

 

 

 
29,236

Total
309,313

 
315,330

 
90,133

 
149,750

 
864,526

% of Grand Totals
35.78
%
 
36.47
%
 
10.43
%
 
17.32
%
 
100.00
%
Net operating income
$
454,517

 
$
613,362

 
$
171,088

 
$
268,189

 
$
1,507,156

% of Grand Totals
30.16
%
 
40.70
%
 
11.35
%
 
17.79
%
 
100.00
%
 
For the year ended December 31, 2013:
 
Boston
 
New York
 
San
Francisco
 
Washington,
DC
 
Total
Rental Revenue:
 
 
 
 
 
 
 
 
 
Class A Office
$
665,991

 
$
725,566

 
$
214,755

 
$
381,359

 
$
1,987,671

Office/Technical
22,617

 

 
17,259

 
15,649

 
55,525

Residential
4,395

 

 

 
17,923

 
22,318

Hotel
40,330

 

 

 

 
40,330

Total
733,333

 
725,566

 
232,014

 
414,931

 
2,105,844

% of Grand Totals
34.82
%
 
34.46
%
 
11.02
%
 
19.70
%
 
100.00
%
Rental Expenses:
 
 
 
 
 
 
 
 
 
Class A Office
259,997

 
251,640

 
77,905

 
126,507

 
716,049

Office/Technical
6,879

 

 
3,708

 
4,190

 
14,777

Residential
1,823

 

 

 
10,307

 
12,130

Hotel
28,447

 

 

 

 
28,447

Total
297,146

 
251,640

 
81,613

 
141,004

 
771,403

% of Grand Totals
38.52
%
 
32.62
%
 
10.58
%
 
18.28
%
 
100.00
%
Net operating income
$
436,187

 
$
473,926

 
$
150,401

 
$
273,927

 
$
1,334,441

% of Grand Totals
32.69
%
 
35.51
%
 
11.27
%
 
20.53
%
 
100.00
%
      
        
For the year ended December 31, 2012:
 
Boston
 
New York
 
San
Francisco
 
Washington,
DC
 
Total
Rental Revenue:
 
 
 
 
 
 
 
 
 
Class A Office
$
617,652

 
$
543,194

 
$
208,177

 
$
346,402

 
$
1,715,425

Office/Technical
22,460

 

 
494

 
16,264

 
39,218

Residential
3,936

 

 

 
16,632

 
20,568

Hotel
37,915

 

 

 

 
37,915

Total
681,963

 
543,194

 
208,671

 
379,298

 
1,813,126

% of Grand Totals
37.61
%
 
29.96
%
 
11.51
%
 
20.92
%
 
100.00
%
Rental Expenses:
 
 
 
 
 
 
 
 
 
Class A Office
242,904

 
187,987

 
75,542

 
111,049

 
617,482

Office/Technical
6,499

 

 
149

 
3,966

 
10,614

Residential
1,675

 

 

 
9,317

 
10,992

Hotel
28,120

 

 

 

 
28,120

Total
279,198

 
187,987

 
75,691

 
124,332

 
667,208

% of Grand Totals
41.85
%
 
28.18
%
 
11.34
%
 
18.63
%
 
100.00
%
Net operating income
$
402,765

 
$
355,207

 
$
132,980

 
$
254,966

 
$
1,145,918

% of Grand Totals
35.15
%
 
31.00
%
 
11.60
%
 
22.25
%
 
100.00
%

Schedule Of Reconciliation Of Net Operating Income To Net Income
The following is a reconciliation of Net Operating Income to net income attributable to Boston Properties, Inc. (in thousands):
 
 
Year ended December 31,
 
 
2014
 
2013
 
2012
Net Operating Income
 
$
1,507,156

 
$
1,334,441

 
$
1,145,918

Add:
 
 
 
 
 
 
Development and management services income
 
25,316

 
29,695

 
34,060

Income from unconsolidated joint ventures
 
12,769

 
75,074

 
49,078

Gains on consolidation of joint ventures
 

 
385,991

 

Interest and other income
 
8,765

 
8,310

 
10,091

Gains from investments in securities
 
1,038

 
2,911

 
1,389

Gains (losses) from early extinguishments of debt
 
(10,633
)
 
122

 
(4,453
)
Income from discontinued operations
 

 
8,022

 
9,806

Gains on sales of real estate from discontinued operations
 

 
112,829

 
36,877

       Gain on forgiveness of debt from discontinued operations
 

 
20,182

 

Gains on sales of real estate
 
168,039

 

 

Less:
 
 
 
 
 
 
General and administrative expense
 
98,937

 
115,329

 
90,129

Transaction costs
 
3,140

 
1,744

 
3,653

Depreciation and amortization expense
 
628,573

 
560,637

 
445,875

Interest expense
 
455,743


446,880

 
410,970

Impairment loss
 

 
8,306

 

Impairment loss from discontinued operations
 

 
3,241

 

Noncontrolling interest in property partnerships
 
30,561


1,347

 
3,792

Noncontrolling interest—redeemable preferred units of the Operating Partnership
 
1,023


6,046

 
3,497

Noncontrolling interest—common units of the Operating Partnership
 
50,862


70,085

 
30,125

Noncontrolling interest in discontinued operations—common units of the Operating Partnership
 


14,151

 
5,075

Preferred dividends
 
10,500

 
8,057

 

Net income attributable to Boston Properties, Inc. common shareholders
 
$
433,111

 
$
741,754

 
$
289,650