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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Net income $ 569,977 $ 799,918 $ 526,057
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 694,403 639,542 628,573
Impairment loss 1,783 0 0
Non-cash compensation expense 32,911 29,183 28,099
Income from unconsolidated joint ventures (8,074) (22,770) (12,769)
Gain on sale of investment in unconsolidated joint venture (59,370) 0 0
Distributions of net cash flow from operations of unconsolidated joint ventures 24,955 8,469 7,372
Losses (gains) on investments in securities (2,273) 653 (1,038)
Non-cash portion of interest expense (35,052) (42,271) (39,343)
Settlement of accreted debt discount on repurchases/repayments of unsecured senior notes and unsecured exchangeable senior notes 0 0 (94,963)
Losses from early extinguishments of debt 371 21,837 0
Gains on sales of real estate (80,606) (375,895) (168,039)
Change in assets and liabilities:      
Cash held in escrows 2,277 (18,284) 3,433
Tenant and other receivables, net 3,688 (46,326) 12,869
Accrued rental income, net (28,127) (73,911) (57,899)
Prepaid expenses and other assets 52,923 (16,877) 20,238
Accounts payable and accrued expenses 15,666 (6,310) 3,903
Accrued interest payable 53,547 26,854 (3,991)
Other liabilities (106,022) (34,005) (57,873)
Tenant leasing costs (96,103) (90,396) (99,076)
Total adjustments 466,897 (507) 169,496
Net cash provided by operating activities 1,036,874 799,411 695,553
Cash flows from investing activities:      
Acquisitions of real estate (78,000) 0 (4,670)
Construction in progress (500,350) (374,664) (405,942)
Building and other capital improvements (150,640) (112,755) (82,479)
Tenant improvements (230,298) (144,572) (106,003)
Proceeds from sales of real estate 122,750 602,600 419,864
Proceeds from sales of real estate and sales of interests in property partnerships placed in escrow (122,647) (200,612) (1,912,347)
Proceeds from sales of real estate and sales of interests in property partnerships released from escrow 122,647 634,165 1,478,794
Cash placed in escrow for land sale contracts 0 (7,111) 0
Cash released from scrow for land sale contracts 1,596 5,312 0
Cash released from escrow for investing activities 6,694 0 0
Capital contributions to unconsolidated joint ventures (575,795) (38,207) (52,052)
Capital distributions from unconsolidated joint ventures 20,440 24,527 1,491
Proceeds from sale of investment in unconsolidated joint venture 55,707 0 0
Investments in marketable securities 0 (667,335) 0
Investments in securities, net (1,161) (1,574) (1,780)
Net cash used in investing activities (1,329,057) (280,226) (665,124)
Cash flows from financing activities:      
Repayments of mortgage notes payable (1,326,865) (54,801) (87,758)
Proceeds from unsecured senior notes 1,989,790 0 0
Redemption/repurchase of unsecured senior notes 0 0 (548,016)
Redemption/repurchase of unsecured exchangeable senior notes 0 0 (654,521)
Borrowings on unsecured line of credit 25,000 0 0
Repayments of unsecured line of credit (25,000) 0 0
Payments on capital lease obligations (745) (356) 0
Proceeds from real estate financing transaction 0 6,000 14,523
Payments on real estate financing transactions (5,260) (3,103) (234)
Deferred financing costs (16,121) (1,510) (31)
Net proceeds from equity transactions (271) 799 1,923
Redemption of preferred units 0 (633) (17,373)
Dividends and distributions (671,626) (1,226,199) (840,264)
Sales of interests in property partnerships and contributions from noncontrolling interests in property partnerships 11,951 2,705 1,536,382
Acquisition of noncontrolling interest in property partnership 0 (108,499) 0
Distributions to noncontrolling interest in property partnerships (55,474) (172,949) (37,118)
Net cash used in financing activities (74,621) (1,558,546) (632,487)
Net decrease in cash and cash equivalents (366,804) (1,039,361) (602,058)
Cash and cash equivalents, beginning of year 723,718 1,763,079 2,365,137
Cash and cash equivalents, end of year 356,914 723,718 1,763,079
Supplemental disclosures:      
Cash paid for interest 433,591 481,826 646,516
Interest capitalized 39,237 34,213 52,476
Non-cash investing and financing activities:      
Write off of fully depreciated real estate (206,721) (45,455) (46,943)
Change in real estate included in accounts payable and accrued expenses (1,481) 74,985 (1,431)
Real estate acquired through capital lease 21,000 0 0
Marketable securities transferred in connection with the legal defeasance of mortgage note payable 0 667,335 0
Mortgage note payable legally defeased 0 640,500 0
Mortgage note payable assigned in connection with the sale of real estate 0 116,993 0
Dividends and distributions declared but not paid 130,308 327,320 882,472
Conversions of redeemable partnership units to partners’ capital / stockholders equity 6,461 14,343 2,700
Conversion of redeemable preferred units to common units 0 0 33,306
Issuance of restricted securities to employees and directors 33,615 43,355 27,445
Boston Properties Limited Partnership      
Net income 583,773 809,109 541,213
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 682,776 631,549 620,064
Impairment loss 1,783 0 0
Non-cash compensation expense 32,911 29,183 28,099
Income from unconsolidated joint ventures (8,074) (22,770) (12,769)
Gain on sale of investment in unconsolidated joint venture (59,370) 0 0
Distributions of net cash flow from operations of unconsolidated joint ventures 24,955 8,469 7,372
Losses (gains) on investments in securities (2,273) 653 (1,038)
Non-cash portion of interest expense (35,052) (42,271) (39,343)
Settlement of accreted debt discount on repurchases/repayments of unsecured senior notes and unsecured exchangeable senior notes 0 0 (94,963)
Losses from early extinguishments of debt 371 21,837 0
Gains on sales of real estate (82,775) (377,093) (174,686)
Change in assets and liabilities:      
Cash held in escrows 2,277 (18,284) 3,433
Tenant and other receivables, net 3,688 (46,326) 12,869
Accrued rental income, net (28,127) (73,911) (57,899)
Prepaid expenses and other assets 52,923 (16,877) 20,238
Accounts payable and accrued expenses 15,666 (6,310) 3,903
Accrued interest payable 53,547 26,854 (3,991)
Other liabilities (106,022) (34,005) (57,873)
Tenant leasing costs (96,103) (90,396) (99,076)
Total adjustments 453,101 (9,698) 154,340
Net cash provided by operating activities 1,036,874 799,411 695,553
Cash flows from investing activities:      
Acquisitions of real estate (78,000) 0 (4,670)
Construction in progress (500,350) (374,664) (405,942)
Building and other capital improvements (150,640) (112,755) (82,479)
Tenant improvements (230,298) (144,572) (106,003)
Proceeds from sales of real estate 122,750 602,600 419,864
Proceeds from sales of real estate and sales of interests in property partnerships placed in escrow (122,647) (200,612) (1,912,347)
Proceeds from sales of real estate and sales of interests in property partnerships released from escrow 122,647 634,165 1,478,794
Cash placed in escrow for land sale contracts 0 (7,111) 0
Cash released from scrow for land sale contracts 1,596 5,312 0
Cash released from escrow for investing activities 6,694 0 0
Capital contributions to unconsolidated joint ventures (575,795) (38,207) (52,052)
Capital distributions from unconsolidated joint ventures 20,440 24,527 1,491
Proceeds from sale of investment in unconsolidated joint venture 55,707 0 0
Investments in marketable securities 0 (667,335) 0
Investments in securities, net (1,161) (1,574) (1,780)
Net cash used in investing activities (1,329,057) (280,226) (665,124)
Cash flows from financing activities:      
Repayments of mortgage notes payable (1,326,865) (54,801) (87,758)
Proceeds from unsecured senior notes 1,989,790 0 0
Redemption/repurchase of unsecured senior notes 0 0 (548,016)
Redemption/repurchase of unsecured exchangeable senior notes 0 0 (654,521)
Borrowings on unsecured line of credit 25,000 0 0
Repayments of unsecured line of credit (25,000) 0 0
Payments on capital lease obligations (745) (356) 0
Proceeds from real estate financing transaction 0 6,000 14,523
Payments on real estate financing transactions (5,260) (3,103) (234)
Deferred financing costs (16,121) (1,510) (31)
Net proceeds from equity transactions (271) 799 1,923
Redemption of preferred units 0 (633) (17,373)
Dividends and distributions (671,626) (1,226,199) (840,264)
Sales of interests in property partnerships and contributions from noncontrolling interests in property partnerships 11,951 2,705 1,536,382
Acquisition of noncontrolling interest in property partnership 0 (108,499) 0
Distributions to noncontrolling interest in property partnerships (55,474) (172,949) (37,118)
Net cash used in financing activities (74,621) (1,558,546) (632,487)
Net decrease in cash and cash equivalents (366,804) (1,039,361) (602,058)
Cash and cash equivalents, beginning of year 723,718 1,763,079 2,365,137
Cash and cash equivalents, end of year 356,914 723,718 1,763,079
Supplemental disclosures:      
Cash paid for interest 433,591 481,826 646,516
Interest capitalized 39,237 34,213 52,476
Non-cash investing and financing activities:      
Write off of fully depreciated real estate (202,388) (45,455) (46,419)
Change in real estate included in accounts payable and accrued expenses (1,481) 74,985 (1,431)
Real estate acquired through capital lease 21,000 0 0
Marketable securities transferred in connection with the legal defeasance of mortgage note payable 0 667,335 0
Mortgage note payable legally defeased 0 640,500 0
Mortgage note payable assigned in connection with the sale of real estate 0 116,993 0
Dividends and distributions declared but not paid 130,308 327,320 882,472
Conversions of redeemable partnership units to partners’ capital / stockholders equity 6,461 14,343 2,700
Conversion of redeemable preferred units to common units 0 0 33,306
Issuance of restricted securities to employees and directors $ 33,615 $ 43,355 $ 27,445