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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net income $ 527,322 $ 430,278
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 480,210 463,288
Non-cash compensation expense 31,700 27,260
Loss (income) from unconsolidated joint ventures 3,083 (7,035)
Distributions of net cash flow from operations of unconsolidated joint ventures 3,988 8,563
Gains from investments in securities (1,454) (2,716)
Gains from early extinguishments of debt 0 (14,354)
Non-cash portion of interest expense 15,922 (6,667)
Gains on sales of real estate (122,552) (6,791)
Change in assets and liabilities:    
Tenant and other receivables, net 1,578 12,528
Accrued rental income, net (41,519) (36,012)
Prepaid expenses and other assets (51,938) (13,633)
Accounts payable and accrued expenses 6,354 7,861
Accrued interest payable 8,860 (144,833)
Other liabilities (1,561) (65,073)
Tenant leasing costs (89,366) (67,699)
Total adjustments 243,305 154,687
Net cash provided by operating activities 770,627 584,965
Cash flows from investing activities:    
Acquisitions of real estate 0 (15,953)
Construction in progress (530,389) (452,283)
Building and other capital improvements (140,969) (162,395)
Tenant improvements (129,450) (152,749)
Proceeds from sales of real estate 175,577 29,810
Capital contributions to unconsolidated joint ventures (314,075) (89,874)
Capital distributions from unconsolidated joint ventures 0 251,000
Issuance of related party note receivable (80,000) 0
Investments in securities, net (761) (1,451)
Net cash used in investing activities (1,020,067) (593,895)
Cash flows from financing activities:    
Proceeds from mortgage notes payable 0 2,300,000
Repayments of mortgage notes payable (14,677) (1,313,890)
Borrowings on unsecured line of credit 580,000 470,000
Repayments of unsecured line of credit (455,000) (470,000)
Proceeds from unsecured term loan 500,000 0
Repayments of mezzanine notes payable 0 (306,000)
Repayments of outside members’ notes payable 0 (70,424)
Payments on capital lease obligations 0 (463)
Payments on real estate financing transactions (960) (1,306)
Deposit on mortgage note payable interest rate lock 0 (23,200)
Return of deposit on mortgage note payable interest rate lock 0 23,200
Deferred financing costs (263) (44,083)
Debt prepayment and extinguishment costs 0 (90)
Net proceeds from equity transactions (333) 241
Dividends and distributions (421,264) (394,900)
Contributions from noncontrolling interests in property partnerships 37,148 38,196
Distributions to noncontrolling interests in property partnerships (56,796) (41,605)
Net cash provided by financing activities 167,855 165,676
Net increase (decrease) in cash and cash equivalents and cash held in escrows (81,585) 156,746
Cash and cash equivalents and cash held in escrows, beginning of period 505,369 420,088
Cash and cash equivalents and cash held in escrows, end of period 423,784 576,834
Reconciliation of cash and cash equivalents and cash held in escrows:    
Cash and cash equivalents, beginning of period 434,767 356,914
Cash held in escrows, beginning of period 70,602 63,174
Cash and Cash Equivalents, end of period 322,502 493,055
Cash held in escrows, end of period 101,282 83,779
Supplemental disclosures:    
Cash paid for interest 303,203 477,189
Interest capitalized 51,594 43,286
Non-cash investing and financing activities:    
Write-off of fully depreciated real estate (100,118) (103,972)
Additions to real estate included in accounts payable and accrued expenses (11,746) 36,609
Real estate acquired through capital lease 0 28,962
Outside members’ notes payable contributed to noncontrolling interests in property partnerships 0 109,576
Dividends and distributions declared but not paid 165,118 130,434
Conversions of noncontrolling interests to stockholders’ equity / partners' capital 2,112 16,812
Issuance of restricted securities to employees 37,342 35,711
Boston Properties Limited Partnership    
Cash flows from operating activities:    
Net income 537,428 437,041
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 474,383 457,102
Non-cash compensation expense 31,700 27,260
Loss (income) from unconsolidated joint ventures 3,083 (7,035)
Distributions of net cash flow from operations of unconsolidated joint ventures 3,988 8,563
Gains from investments in securities (1,454) (2,716)
Gains from early extinguishments of debt 0 (14,354)
Non-cash portion of interest expense 15,922 (6,667)
Gains on sales of real estate (126,831) (7,368)
Change in assets and liabilities:    
Tenant and other receivables, net 1,578 12,528
Accrued rental income, net (41,519) (36,012)
Prepaid expenses and other assets (51,938) (13,633)
Accounts payable and accrued expenses 6,354 7,861
Accrued interest payable 8,860 (144,833)
Other liabilities (1,561) (65,073)
Tenant leasing costs (89,366) (67,699)
Total adjustments 233,199 147,924
Net cash provided by operating activities 770,627 584,965
Cash flows from investing activities:    
Acquisitions of real estate 0 (15,953)
Construction in progress (530,389) (452,283)
Building and other capital improvements (140,969) (162,395)
Tenant improvements (129,450) (152,749)
Proceeds from sales of real estate 175,577 29,810
Capital contributions to unconsolidated joint ventures (314,075) (89,874)
Capital distributions from unconsolidated joint ventures 0 251,000
Issuance of related party note receivable (80,000) 0
Investments in securities, net (761) (1,451)
Net cash used in investing activities (1,020,067) (593,895)
Cash flows from financing activities:    
Proceeds from mortgage notes payable 0 2,300,000
Repayments of mortgage notes payable (14,677) (1,313,890)
Borrowings on unsecured line of credit 580,000 470,000
Repayments of unsecured line of credit (455,000) (470,000)
Proceeds from unsecured term loan 500,000 0
Repayments of mezzanine notes payable 0 (306,000)
Repayments of outside members’ notes payable 0 (70,424)
Payments on capital lease obligations 0 (463)
Payments on real estate financing transactions (960) (1,306)
Deposit on mortgage note payable interest rate lock 0 (23,200)
Return of deposit on mortgage note payable interest rate lock 0 23,200
Deferred financing costs (263) (44,083)
Debt prepayment and extinguishment costs 0 (90)
Net proceeds from equity transactions (333) 241
Dividends and distributions (421,264) (394,900)
Contributions from noncontrolling interests in property partnerships 37,148 38,196
Distributions to noncontrolling interests in property partnerships (56,796) (41,605)
Net cash provided by financing activities 167,855 165,676
Net increase (decrease) in cash and cash equivalents and cash held in escrows (81,585) 156,746
Cash and cash equivalents and cash held in escrows, beginning of period 505,369 420,088
Cash and cash equivalents and cash held in escrows, end of period 423,784 576,834
Reconciliation of cash and cash equivalents and cash held in escrows:    
Cash and cash equivalents, beginning of period 434,767 356,914
Cash held in escrows, beginning of period 70,602 63,174
Cash and Cash Equivalents, end of period 322,502 493,055
Cash held in escrows, end of period 101,282 83,779
Supplemental disclosures:    
Cash paid for interest 303,203 477,189
Interest capitalized 51,594 43,286
Non-cash investing and financing activities:    
Write-off of fully depreciated real estate (100,118) (102,795)
Additions to real estate included in accounts payable and accrued expenses (11,746) 36,609
Real estate acquired through capital lease 0 28,962
Outside members’ notes payable contributed to noncontrolling interests in property partnerships 0 109,576
Dividends and distributions declared but not paid 165,118 130,434
Conversions of noncontrolling interests to stockholders’ equity / partners' capital 2,112 16,812
Issuance of restricted securities to employees $ 37,342 $ 35,711