Segment Information (Tables)

9 Months Ended

Sep. 30, 2018

Segment Reporting [Abstract]

Schedule Of Reconciliation Of Net Operating Income To Net Income

The following tables present reconciliations of Net Income Attributable to Boston Properties, Inc. Common Shareholders to Net Operating Income and Net Income Attributable to Boston Properties Limited Partnership Common Unitholders to Net Operating Income for the three and nine months ended September 30, 2018 and 2017.

Boston Properties, Inc.

	Three months ended September 30,					Nine months ended September 30,
	2018			2017		2018			2017
	(in thousands)
Net income attributable to Boston Properties, Inc. common shareholders	$	119,118		$	117,337	$	423,835		$	348,086
Add:
Preferred dividends	2,625			2,625		7,875			7,875
Noncontrolling interest—common units of Boston Properties Limited Partnership	13,852			13,402		49,128			40,350
Noncontrolling interests in property partnerships	14,850			14,340		46,484			33,967
Interest expense	95,366			92,032		277,790			282,709
Depreciation and amortization expense	157,996			152,164		480,210			463,288
Transaction costs	914			239		1,409			572
Payroll and related costs from management services contracts	2,516			—		7,371			—
General and administrative expense	29,677			25,792		94,039			84,319
Less:
Gains from early extinguishments of debt	—			—		—			14,354
Gains from investments in securities	1,075			944		1,454			2,716
Interest and other income	2,822			1,329		7,049			3,447
Gains on sales of real estate	7,863			2,891		122,552			6,791
Income (loss) from unconsolidated joint ventures	(4,313		)	843		(3,083		)	7,035
Direct reimbursements of payroll and related costs from management services contracts	2,516			—		7,371			—
Development and management services revenue	15,253			10,811		32,963			24,648
Net Operating Income	$	411,698		$	401,113	$	1,219,835		$	1,202,175

Boston Properties Limited Partnership

	Three months ended September 30,					Nine months ended September 30,
	2018			2017		2018			2017
	(in thousands)
Net income attributable to Boston Properties Limited Partnership common unitholders	$	136,201		$	132,693	$	483,069		$	395,199
Add:
Preferred distributions	2,625			2,625		7,875			7,875
Noncontrolling interests in property partnerships	14,850			14,340		46,484			33,967
Interest expense	95,366			92,032		277,790			282,709
Depreciation and amortization expense	156,056			150,210		474,383			457,102
Transaction costs	914			239		1,409			572
Payroll and related costs from management services contracts	2,516			—		7,371			—
General and administrative expense	29,677			25,792		94,039			84,319
Less:
Gains from early extinguishments of debt	—			—		—			14,354
Gains from investments in securities	1,075			944		1,454			2,716
Interest and other income	2,822			1,329		7,049			3,447
Gains on sales of real estate	9,154			2,891		126,831			7,368
Income (loss) from unconsolidated joint ventures	(4,313		)	843		(3,083		)	7,035
Direct reimbursements of payroll and related costs from management services contracts	2,516			—		7,371			—
Development and management services revenue	15,253			10,811		32,963			24,648
Net Operating Income	$	411,698		$	401,113	$	1,219,835		$	1,202,175

Schedule Of Segment Information By Geographic Area And Property Type

Information by geographic area and property type (dollars in thousands):

For the three months ended September 30, 2018:

	Boston			New York			San Francisco			Washington, DC			Total
Rental Revenue:
Office	$	210,277		$	237,944		$	102,035		$	98,275		$	648,531
Residential	1,905			—			—			4,415			6,320
Hotel	13,664			—			—			—			13,664
Total	225,846			237,944			102,035			102,690			668,515
% of Grand Totals	33.78		%	35.60		%	15.26		%	15.36		%	100.00		%
Rental Expenses:
Office	78,089			96,795			34,016			35,365			244,265
Residential	1,159			—			—			2,565			3,724
Hotel	8,828			—			—			—			8,828
Total	88,076			96,795			34,016			37,930			256,817
% of Grand Totals	34.30		%	37.68		%	13.25		%	14.77		%	100.00		%
Net operating income	$	137,770		$	141,149		$	68,019		$	64,760		$	411,698
% of Grand Totals	33.46		%	34.29		%	16.52		%	15.73		%	100.00		%

For the three months ended September 30, 2017:

	Boston			New York			San Francisco			Washington, DC			Total
Rental Revenue:
Office	$	196,687		$	242,071		$	87,162		$	103,622		$	629,542
Residential	1,228			—			—			3,067			4,295
Hotel	13,064			—			—			—			13,064
Total	210,979			242,071			87,162			106,689			646,901
% of Grand Totals	32.61		%	37.43		%	13.47		%	16.49		%	100.00		%
Rental Expenses:
Office	76,086			95,775			26,792			37,111			235,764
Residential	512			—			—			1,065			1,577
Hotel	8,447			—			—			—			8,447
Total	85,045			95,775			26,792			38,176			245,788
% of Grand Totals	34.60		%	38.97		%	10.90		%	15.53		%	100.00		%
Net operating income	$	125,934		$	146,296		$	60,370		$	68,513		$	401,113
% of Grand Totals	31.40		%	36.47		%	15.05		%	17.08		%	100.00		%

For the nine months ended September 30, 2018:

	Boston			New York			San Francisco			Washington, DC			Total
Rental Revenue:
Office	$	623,084		$	714,348		$	285,410		$	296,092		$	1,918,934
Residential	4,252			—			—			11,026			15,278
Hotel	37,373			—			—			—			37,373
Total	664,709			714,348			285,410			307,118			1,971,585
% of Grand Totals	33.71		%	36.23		%	14.48		%	15.58		%	100.00		%
Rental Expenses:
Office	235,560			282,395			92,858			106,386			717,199
Residential	2,379			—			—			6,530			8,909
Hotel	25,642			—			—			—			25,642
Total	263,581			282,395			92,858			112,916			751,750
% of Grand Totals	35.06		%	37.57		%	12.35		%	15.02		%	100.00		%
Net operating income	$	401,128		$	431,953		$	192,552		$	194,202		$	1,219,835
% of Grand Totals	32.88		%	35.41		%	15.79		%	15.92		%	100.00		%

For the nine months ended September 30, 2017:

	Boston			New York			San Francisco			Washington, DC			Total
Rental Revenue:
Office	$	573,883		$	735,485		$	257,286		$	309,225		$	1,875,879
Residential	3,520			—			—			8,941			12,461
Hotel	33,859			—			—			—			33,859
Total	611,262			735,485			257,286			318,166			1,922,199
% of Grand Totals	31.80		%	38.27		%	13.38		%	16.55		%	100.00		%
Rental Expenses:
Office	225,502			280,569			77,204			108,044			691,319
Residential	1,552			—			—			3,211			4,763
Hotel	23,942			—			—			—			23,942
Total	250,996			280,569			77,204			111,255			720,024
% of Grand Totals	34.86		%	38.97		%	10.72		%	15.45		%	100.00		%
Net operating income	$	360,266		$	454,916		$	180,082		$	206,911		$	1,202,175
% of Grand Totals	29.97		%	37.84		%	14.98		%	17.21		%	100.00		%