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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Net income $ 562,481 $ 569,977 $ 799,918
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 617,547 694,403 639,542
Impairment loss 0 1,783 0
Non-cash compensation expense 35,361 32,911 29,183
Income from unconsolidated joint ventures (11,232) (8,074) (22,770)
Gain on sale of investment in unconsolidated joint venture 0 (59,370) 0
Distributions of net cash flow from operations of unconsolidated joint ventures 26,858 24,955 8,469
(Gains) losses on investments in securities (3,678) (2,273) 653
Non-cash portion of interest expense (1,284) (35,052) (42,271)
Settlement of accreted debt discount on redemption of unsecured senior notes (1,980) 0 0
(Gains) losses from early extinguishments of debt (13,280) 371 21,837
Gains on sales of real estate (7,663) (80,606) (375,895)
Change in assets and liabilities:      
Cash held in escrows 8,194 2,277 (18,284)
Tenant and other receivables, net 2,433 3,688 (46,326)
Accrued rental income, net (58,355) (28,127) (73,911)
Prepaid expenses and other assets 51,425 52,923 (16,877)
Accounts payable and accrued expenses 10,482 15,666 (6,310)
Accrued interest payable (160,521) 53,547 26,854
Other liabilities (44,914) (106,022) (34,005)
Tenant leasing costs (104,429) (96,103) (90,396)
Total adjustments 344,964 466,897 (507)
Net cash provided by operating activities 907,445 1,036,874 799,411
Cash flows from investing activities:      
Acquisitions of real estate (15,953) (78,000) 0
Construction in progress (608,404) (500,350) (374,664)
Building and other capital improvements (222,482) (150,640) (112,755)
Tenant improvements (205,331) (230,298) (144,572)
Proceeds from sales of real estate 29,810 122,750 602,600
Proceeds from sales of real estate placed in escrow (29,810) (122,647) (200,612)
Proceeds from sales of real estate released from escrow 29,810 122,647 634,165
Cash placed in escrow for land sale contracts 0 0 (7,111)
Cash released from escrow for land sale contracts 0 1,596 5,312
Cash released from escrow for investing activities 9,230 6,694 0
Cash placed in escrow for investment in unconsolidated joint venture (25,000) 0 0
Capital contributions to unconsolidated joint ventures (109,015) (575,795) (38,207)
Capital distributions from unconsolidated joint ventures 251,000 20,440 24,527
Proceeds from sale of investment in unconsolidated joint venture 0 55,707 0
Investments in marketable securities 0 0 (667,335)
Investments in securities, net (1,669) (1,161) (1,574)
Net cash used in investing activities (897,814) (1,329,057) (280,226)
Cash flows from financing activities:      
Proceeds from mortgage notes payable 2,300,000 0 0
Repayments of mortgage notes payable (1,317,653) (1,326,865) (54,801)
Proceeds from unsecured senior notes 847,935 1,989,790 0
Redemption of unsecured senior notes (848,020) 0 0
Borrowings on unsecured line of credit 580,000 25,000 0
Repayments of unsecured line of credit (535,000) (25,000) 0
Repayments of mezzanine notes payable (306,000) 0 0
Repayments of outside members’ notes payable (70,424) 0 0
Payments on capital lease obligations (401) (745) (356)
Proceeds from real estate financing transaction 0 0 6,000
Payments on real estate financing transactions (2,840) (5,260) (3,103)
Deposit on mortgage note payable interest rate lock (23,200) 0 0
Return of deposit on mortgage note payable interest rate lock 23,200 0 0
Deferred financing costs (50,705) (16,121) (1,510)
Net proceeds from equity transactions 241 (271) 799
Redemption of preferred units 0 0 (633)
Dividends and distributions (526,578) (671,626) (1,226,199)
Contributions from noncontrolling interests in property partnerships 52,009 11,951 2,705
Acquisition of noncontrolling interest in property partnership 0 0 (108,499)
Distributions to noncontrolling interests in property partnerships (54,342) (55,474) (172,949)
Net cash provided by (used in) financing activities 68,222 (74,621) (1,558,546)
Net increase (decrease) in cash and cash equivalents 77,853 (366,804) (1,039,361)
Cash and cash equivalents, beginning of year 356,914 723,718 1,763,079
Cash and cash equivalents, end of year 434,767 356,914 723,718
Supplemental disclosures:      
Cash paid for interest 598,486 433,591 481,826
Interest capitalized 61,070 39,237 34,213
Non-cash investing and financing activities:      
Write off of fully depreciated real estate (124,891) (206,721) (45,455)
Change in real estate included in accounts payable and accrued expenses 27,978 (1,481) 74,985
Real estate acquired through capital lease 28,962 21,000 0
Outside members’ notes payable contributed to noncontrolling interests in property partnerships 109,576 0 0
Marketable securities transferred in connection with the legal defeasance of mortgage note payable 0 0 667,335
Mortgage note payable legally defeased 0 0 640,500
Mortgage note payable assigned in connection with the sale of real estate 0 0 116,993
Dividends and distributions declared but not paid 139,040 130,308 327,320
Conversions of noncontrolling interests to stockholders’ equity 16,916 6,461 14,343
Issuance of restricted securities to employees and directors 35,989 33,615 43,355
Boston Properties Limited Partnership      
Net income 571,198 583,773 809,109
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 609,407 682,776 631,549
Impairment loss 0 1,783 0
Non-cash compensation expense 35,361 32,911 29,183
Income from unconsolidated joint ventures (11,232) (8,074) (22,770)
Gain on sale of investment in unconsolidated joint venture 0 (59,370) 0
Distributions of net cash flow from operations of unconsolidated joint ventures 26,858 24,955 8,469
(Gains) losses on investments in securities (3,678) (2,273) 653
Non-cash portion of interest expense (1,284) (35,052) (42,271)
Settlement of accreted debt discount on redemption of unsecured senior notes (1,980) 0 0
(Gains) losses from early extinguishments of debt (13,280) 371 21,837
Gains on sales of real estate (8,240) (82,775) (377,093)
Change in assets and liabilities:      
Cash held in escrows 8,194 2,277 (18,284)
Tenant and other receivables, net 2,433 3,688 (46,326)
Accrued rental income, net (58,355) (28,127) (73,911)
Prepaid expenses and other assets 51,425 52,923 (16,877)
Accounts payable and accrued expenses 10,482 15,666 (6,310)
Accrued interest payable (160,521) 53,547 26,854
Other liabilities (44,914) (106,022) (34,005)
Tenant leasing costs (104,429) (96,103) (90,396)
Total adjustments 336,247 453,101 (9,698)
Net cash provided by operating activities 907,445 1,036,874 799,411
Cash flows from investing activities:      
Acquisitions of real estate (15,953) (78,000) 0
Construction in progress (608,404) (500,350) (374,664)
Building and other capital improvements (222,482) (150,640) (112,755)
Tenant improvements (205,331) (230,298) (144,572)
Proceeds from sales of real estate 29,810 122,750 602,600
Proceeds from sales of real estate placed in escrow (29,810) (122,647) (200,612)
Proceeds from sales of real estate released from escrow 29,810 122,647 634,165
Cash placed in escrow for land sale contracts 0 0 (7,111)
Cash released from escrow for land sale contracts 0 1,596 5,312
Cash released from escrow for investing activities 9,230 6,694 0
Cash placed in escrow for investment in unconsolidated joint venture (25,000) 0 0
Capital contributions to unconsolidated joint ventures (109,015) (575,795) (38,207)
Capital distributions from unconsolidated joint ventures 251,000 20,440 24,527
Proceeds from sale of investment in unconsolidated joint venture 0 55,707 0
Investments in marketable securities 0 0 (667,335)
Investments in securities, net (1,669) (1,161) (1,574)
Net cash used in investing activities (897,814) (1,329,057) (280,226)
Cash flows from financing activities:      
Proceeds from mortgage notes payable 2,300,000 0 0
Repayments of mortgage notes payable (1,317,653) (1,326,865) (54,801)
Proceeds from unsecured senior notes 847,935 1,989,790 0
Redemption of unsecured senior notes (848,020) 0 0
Borrowings on unsecured line of credit 580,000 25,000 0
Repayments of unsecured line of credit (535,000) (25,000) 0
Repayments of mezzanine notes payable (306,000) 0 0
Repayments of outside members’ notes payable (70,424) 0 0
Payments on capital lease obligations (401) (745) (356)
Proceeds from real estate financing transaction 0 0 6,000
Payments on real estate financing transactions (2,840) (5,260) (3,103)
Deposit on mortgage note payable interest rate lock (23,200) 0 0
Return of deposit on mortgage note payable interest rate lock 23,200 0 0
Deferred financing costs (50,705) (16,121) (1,510)
Net proceeds from equity transactions 241 (271) 799
Redemption of preferred units 0 0 (633)
Dividends and distributions (526,578) (671,626) (1,226,199)
Contributions from noncontrolling interests in property partnerships 52,009 11,951 2,705
Acquisition of noncontrolling interest in property partnership 0 0 (108,499)
Distributions to noncontrolling interests in property partnerships (54,342) (55,474) (172,949)
Net cash provided by (used in) financing activities 68,222 (74,621) (1,558,546)
Net increase (decrease) in cash and cash equivalents 77,853 (366,804) (1,039,361)
Cash and cash equivalents, beginning of year 356,914 723,718 1,763,079
Cash and cash equivalents, end of year 434,767 356,914 723,718
Supplemental disclosures:      
Cash paid for interest 598,486 433,591 481,826
Interest capitalized 61,070 39,237 34,213
Non-cash investing and financing activities:      
Write off of fully depreciated real estate (123,714) (202,388) (45,455)
Change in real estate included in accounts payable and accrued expenses 27,978 (1,481) 74,985
Real estate acquired through capital lease 28,962 21,000 0
Outside members’ notes payable contributed to noncontrolling interests in property partnerships 109,576 0 0
Marketable securities transferred in connection with the legal defeasance of mortgage note payable 0 0 667,335
Mortgage note payable legally defeased 0 0 640,500
Mortgage note payable assigned in connection with the sale of real estate 0 0 116,993
Dividends and distributions declared but not paid 139,040 130,308 327,320
Conversions of noncontrolling interests to stockholders’ equity 16,916 6,461 14,343
Issuance of restricted securities to employees and directors $ 35,989 $ 33,615 $ 43,355