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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Net income $ 799,918 $ 526,057 $ 841,440
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 639,542 628,573 565,397
Non-cash compensation expense 29,183 28,099 45,155
Impairment loss 0 0 8,306
Income from unconsolidated joint ventures (22,770) (12,769) (75,074)
Gains on consolidation of joint ventures 0 0 (385,991)
Distributions of net cash flow from operations of unconsolidated joint ventures 8,469 7,372 32,600
Losses (gains) on investments in securities 653 (1,038) (2,911)
Non-cash portion of interest expense (42,271) (39,343) 2,649
Settlement of accreted debt discount on repurchases/repayments of unsecured senior notes and unsecured exchangeable senior notes 0 (94,963) (56,532)
Losses (gains) from early extinguishments of debt 21,837 0 (264)
Gains on sales of real estate (375,895) (168,039) 0
Gain on sale of real estate from discontinued operations 0 0 (112,829)
Gain on forgiveness of debt from discontinued operations 0 0 (20,182)
Impairment loss from discontinued operations 0 0 3,241
Change in assets and liabilities:      
Cash held in escrows (18,284) 3,433 315
Tenant and other receivables, net (46,326) 12,869 (443)
Accrued rental income, net (73,911) (57,899) (59,972)
Prepaid expenses and other assets (16,877) 20,238 12,966
Accounts payable and accrued expenses (6,310) 3,903 13,108
Accrued interest payable 26,854 (3,991) 21,302
Other liabilities (34,005) (57,873) 2,073
Tenant leasing costs (90,396) (99,076) (56,428)
Total adjustments (507) 169,496 (63,514)
Net cash provided by operating activities 799,411 695,553 777,926
Cash flows from investing activities:      
Acquisitions of real estate 0 (4,670) (522,900)
Construction in progress (374,664) (405,942) (396,835)
Building and other capital improvements (112,755) (82,479) (73,821)
Tenant improvements (144,572) (106,003) (105,425)
Proceeds from sales of real estate 602,600 419,864 250,078
Proceeds from sales of real estate and sales of interests in property partnerships placed in escrow (200,612) (1,912,347) 0
Proceeds from sales of real estate and sales of interests in property partnerships released from escrow 634,165 1,478,794 0
Cash placed in escrow for land sale contracts (7,111) 0 0
Cash released from scrow for land sale contracts 5,312 0 0
Cash recorded upon consolidation   0 79,468
Issuance of notes receivable,net 0 0 12,491
Capital contributions to unconsolidated joint ventures (38,207) (52,052) 0
Capital distributions from unconsolidated joint ventures 24,527 1,491 225,862
Investments in marketable securities (667,335) 0 0
Investments in securities, net (1,574) (1,780) (1,558)
Net cash used in investing activities (280,226) (665,124) (532,640)
Cash flows from financing activities:      
Repayments of mortgage notes payable (54,801) (87,758) (80,311)
Proceeds from unsecured senior notes 0 0 1,194,753
Redemption/repurchase of unsecured senior notes 0 (548,016) 0
Redemption/repurchase/exchange of unsecured exchangeable senior notes 0 (654,521) (393,468)
Payments on capital lease obligation (356) 0 0
Proceeds from real estate financing transaction 6,000 14,523 0
Payments on real estate financing transactions (3,103) (234) 0
Deferred financing costs (1,510) (31) (15,195)
Net proceeds from preferred stock / unit issuance 0 0 193,623
Net proceeds from equity transactions 799 1,923 (334)
Redemption of preferred units (633) (17,373) (43,070)
Dividends and distributions (1,226,199) (840,264) (451,118)
Sales of interests in property partnerships and contributions from noncontrolling interests in property partnerships 2,705 1,536,382 682,617
Acquisition of noncontrolling interest in property partnership (108,499) 0 0
Distributions to noncontrolling interest in property partnerships (172,949) (37,118) (9,624)
Net cash provided by (used in) financing activities (1,558,546) (632,487) 1,077,873
Net increase (decrease) in cash and cash equivalents (1,039,361) (602,058) 1,323,159
Cash and cash equivalents, beginning of year 1,763,079 2,365,137 1,041,978
Cash and cash equivalents, end of year 723,718 1,763,079 2,365,137
Supplemental disclosures:      
Cash paid for interest 481,826 646,516 547,973
Interest capitalized 34,213 52,476 68,152
Non-cash investing and financing activities:      
Change in real estate included in accounts payable and accrued expenses 74,985 (1,431) (19,824)
Real estate and related intangibles recorded upon consolidation 0 0 3,356,000
Debt recorded upon consolidation 0 0 2,056,000
Working capital recorded upon consolidation 0 0 177,315
Noncontrolling Interests recorded upon consolidation 0 0 480,861
investment in unconsolidated joint venture elminated upon consolidation 0 0 361,808
Mortgage note extinguished through foreclosure 0 0 25,000
Real estate transferred upon foreclosure 0 0 7,508
Land improvements contributed by noncontrolling interests in property partnership 0 0 4,546
Marketable securities transferred in connection with the legal defeasance of mortgage note payable 667,335 0 0
Mortgage note payable legally defeased 640,500 0 0
Mortgage note payable assigned in connection with the sale of real estate 116,993 0 0
Dividends and distributions declared but not paid 327,320 882,472 497,242
Issuance of common stock in connection with the exchange of exchangeable senior notes 0 0 43,834
Conversions of redeemable partnership units to partners’ capital / stockholders equity 14,343 2,700 30,291
Conversion of redeemable preferred units to common units 0 33,306 16,494
Issuance of restricted securities to employees and directors 43,355 27,445 30,077
Boston Properties Limited Partnership [Member]      
Net income 809,109 541,213 856,966
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 631,549 620,064 557,349
Non-cash compensation expense 29,183 28,099 45,155
Impairment loss 0 0 4,401
Income from unconsolidated joint ventures (22,770) (12,769) (75,074)
Gains on consolidation of joint ventures 0 0 (385,991)
Distributions of net cash flow from operations of unconsolidated joint ventures 8,469 7,372 32,600
Losses (gains) on investments in securities 653 (1,038) (2,911)
Non-cash portion of interest expense (42,271) (39,343) 2,649
Settlement of accreted debt discount on repurchases/repayments of unsecured senior notes and unsecured exchangeable senior notes 0 (94,963) (56,532)
Losses (gains) from early extinguishments of debt 21,837 0 (264)
Gains on sales of real estate (377,093) (174,686) 0
Gain on sale of real estate from discontinued operations 0 0 (115,459)
Gain on forgiveness of debt from discontinued operations 0 0 (20,736)
Impairment loss from discontinued operations 0 0 2,852
Change in assets and liabilities:      
Cash held in escrows (18,284) 3,433 315
Tenant and other receivables, net (46,326) 12,869 (443)
Accrued rental income, net (73,911) (57,899) (59,972)
Prepaid expenses and other assets (16,877) 20,238 12,966
Accounts payable and accrued expenses (6,310) 3,903 13,108
Accrued interest payable 26,854 (3,991) 21,302
Other liabilities (34,005) (57,873) 2,073
Tenant leasing costs (90,396) (99,076) (56,428)
Total adjustments (9,698) 154,340 (79,040)
Net cash provided by operating activities 799,411 695,553 777,926
Cash flows from investing activities:      
Acquisitions of real estate 0 (4,670) (522,900)
Construction in progress (374,664) (405,942) (396,835)
Building and other capital improvements (112,755) (82,479) (73,821)
Tenant improvements (144,572) (106,003) (105,425)
Proceeds from sales of real estate 602,600 419,864 250,078
Proceeds from sales of real estate and sales of interests in property partnerships placed in escrow (200,612) (1,912,347) 0
Proceeds from sales of real estate and sales of interests in property partnerships released from escrow 634,165 1,478,794 0
Cash placed in escrow for land sale contracts (7,111) 0 0
Cash released from scrow for land sale contracts 5,312 0 0
Cash recorded upon consolidation 0 0 79,468
Issuance of notes receivable,net 0 0 12,491
Capital contributions to unconsolidated joint ventures (38,207) (52,052) 0
Capital distributions from unconsolidated joint ventures 24,527 1,491 225,862
Investments in marketable securities (667,335) 0 0
Investments in securities, net (1,574) (1,780) (1,558)
Net cash used in investing activities (280,226) (665,124) (532,640)
Cash flows from financing activities:      
Repayments of mortgage notes payable (54,801) (87,758) (80,311)
Proceeds from unsecured senior notes 0 0 1,194,753
Redemption/repurchase of unsecured senior notes 0 (548,016) 0
Redemption/repurchase/exchange of unsecured exchangeable senior notes 0 (654,521) (393,468)
Payments on capital lease obligation (356) 0 0
Proceeds from real estate financing transaction 6,000 14,523 0
Payments on real estate financing transactions (3,103) (234) 0
Deferred financing costs (1,510) (31) (15,195)
Net proceeds from preferred stock / unit issuance 0 0 193,623
Net proceeds from equity transactions 799 1,923 (334)
Redemption of preferred units (633) (17,373) (43,070)
Dividends and distributions (1,226,199) (840,264) (451,118)
Sales of interests in property partnerships and contributions from noncontrolling interests in property partnerships 2,705 1,536,382 682,617
Acquisition of noncontrolling interest in property partnership (108,499) 0 0
Distributions to noncontrolling interest in property partnerships (172,949) (37,118) (9,624)
Net cash provided by (used in) financing activities (1,558,546) (632,487) 1,077,873
Net increase (decrease) in cash and cash equivalents (1,039,361) (602,058) 1,323,159
Cash and cash equivalents, beginning of year 1,763,079 2,365,137 1,041,978
Cash and cash equivalents, end of year 723,718 1,763,079 2,365,137
Supplemental disclosures:      
Cash paid for interest 481,826 646,516 547,973
Interest capitalized 34,213 52,476 68,152
Non-cash investing and financing activities:      
Change in real estate included in accounts payable and accrued expenses 74,985 (1,431) (19,824)
Real estate and related intangibles recorded upon consolidation 0 0 3,356,000
Debt recorded upon consolidation 0 0 2,056,000
Working capital recorded upon consolidation 0 0 177,315
Noncontrolling Interests recorded upon consolidation 0 0 480,861
investment in unconsolidated joint venture elminated upon consolidation 0 0 361,808
Mortgage note extinguished through foreclosure 0 0 25,000
Real estate transferred upon foreclosure 0 0 7,508
Land improvements contributed by noncontrolling interests in property partnership 0 0 4,546
Marketable securities transferred in connection with the legal defeasance of mortgage note payable 667,335 0 0
Mortgage note payable legally defeased 640,500 0 0
Mortgage note payable assigned in connection with the sale of real estate 116,993 0 0
Dividends and distributions declared but not paid 327,320 882,472 497,242
Issuance of common stock in connection with the exchange of exchangeable senior notes 0 0 43,834
Conversions of redeemable partnership units to partners’ capital / stockholders equity 14,343 2,700 30,291
Conversion of redeemable preferred units to common units 0 33,306 16,494
Issuance of restricted securities to employees and directors $ 43,355 $ 27,445 $ 30,077