XML 21 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements Of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenue        
Base rent $ 520,542 $ 493,386 $ 1,024,104 $ 1,029,514
Recoveries from tenants 89,163 85,706 178,327 175,292
Parking and other 26,462 26,113 52,072 50,938
Total rental revenue 636,167 605,205 1,254,503 1,255,744
Hotel revenue 13,375 12,808 20,795 21,565
Development and management services 7,365 5,533 13,837 12,222
Total revenue 656,907 623,546 1,289,135 1,289,531
Expenses        
Rental 230,454 217,938 458,741 437,110
Hotel 8,404 7,978 15,495 15,612
General and administrative 27,141 25,418 58,527 54,771
Transaction costs 299 913 333 938
Depreciation and amortization 151,919 153,175 311,124 312,623
Total expenses 418,217 405,422 844,220 821,054
Operating income 238,690 218,124 444,915 468,477
Other income (expense)        
Income from unconsolidated joint ventures 3,108 2,234 6,192 4,025
Interest and other income 1,504 1,524 2,118 3,029
Gains from investments in securities 730 478 1,772 737
Gains from early extinguishments of debt 14,354 0 14,354 0
Interest expense (95,143) (105,003) (190,677) (210,312)
Income before gains on sales of real estate 163,243 117,357 278,674 265,956
Gains on sales of real estate 3,767 0 3,900 67,623
Net income 167,010 117,357 282,574 333,579
Net income attributable to noncontrolling interests        
Noncontrolling interests in property partnerships (15,203) (6,814) (19,627) (17,278)
Noncontrolling interest—common units of Boston Properties Limited Partnership (15,473) (11,357) (26,933) (32,771)
Net income attributable to the Company 136,334 99,186 236,014 283,530
Preferred dividends / distributions (2,625) (2,589) (5,250) (5,207)
Net income attributable to the Company's common shareholders / unitholders $ 133,709 $ 96,597 $ 230,764 $ 278,323
Basic earnings per common share / unit attributable to the Company's common shareholders / unitholders        
Net income (in dollars per share / unit) $ 0.87 $ 0.63 $ 1.50 $ 1.81
Weighted average number of common shares / units outstanding 154,177 153,662 154,019 153,644
Diluted earnings per common share / unit attributable to the Company's common shareholders / unitholders        
Diluted Earnings: Net income, Per Share Amount (in dollars per share / unit) $ 0.87 $ 0.63 $ 1.50 $ 1.81
Weighted average number of common and common equivalent shares / units outstanding (in shares / units) 154,331 153,860 154,273 153,889
Dividends / Distributions, Per Share / Unit, Declared $ 0.75 $ 0.65 $ 1.50 $ 1.30
Boston Properties Limited Partnership        
Revenue        
Base rent $ 520,542 $ 493,386 $ 1,024,104 $ 1,029,514
Recoveries from tenants 89,163 85,706 178,327 175,292
Parking and other 26,462 26,113 52,072 50,938
Total rental revenue 636,167 605,205 1,254,503 1,255,744
Hotel revenue 13,375 12,808 20,795 21,565
Development and management services 7,365 5,533 13,837 12,222
Total revenue 656,907 623,546 1,289,135 1,289,531
Expenses        
Rental 230,454 217,938 458,741 437,110
Hotel 8,404 7,978 15,495 15,612
General and administrative 27,141 25,418 58,527 54,771
Transaction costs 299 913 333 938
Depreciation and amortization 149,834 151,191 306,892 308,652
Total expenses 416,132 403,438 839,988 817,083
Operating income 240,775 220,108 449,147 472,448
Other income (expense)        
Income from unconsolidated joint ventures 3,108 2,234 6,192 4,025
Interest and other income 1,504 1,524 2,118 3,029
Gains from investments in securities 730 478 1,772 737
Gains from early extinguishments of debt 14,354 0 14,354 0
Interest expense (95,143) (105,003) (190,677) (210,312)
Income before gains on sales of real estate 165,328 119,341 282,906 269,927
Gains on sales of real estate 4,344 0 4,477 69,792
Net income 169,672 119,341 287,383 339,719
Net income attributable to noncontrolling interests        
Noncontrolling interests in property partnerships (15,203) (6,814) (19,627) (17,278)
Net income attributable to the Company 154,469 112,527 267,756 322,441
Preferred dividends / distributions (2,625) (2,589) (5,250) (5,207)
Net income attributable to the Company's common shareholders / unitholders $ 151,844 $ 109,938 $ 262,506 $ 317,234
Basic earnings per common share / unit attributable to the Company's common shareholders / unitholders        
Net income (in dollars per share / unit) $ 0.88 $ 0.64 $ 1.53 $ 1.85
Weighted average number of common shares / units outstanding 171,675 171,370 171,628 171,339
Diluted earnings per common share / unit attributable to the Company's common shareholders / unitholders        
Diluted Earnings: Net income, Per Share Amount (in dollars per share / unit) $ 0.88 $ 0.64 $ 1.53 $ 1.85
Weighted average number of common and common equivalent shares / units outstanding (in shares / units) 171,829 171,568 171,882 171,584
Dividends / Distributions, Per Share / Unit, Declared $ 0.75 $ 0.65 $ 1.50 $ 1.30