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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Net income $ 712,563 $ 562,481 $ 569,977
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 645,649 617,547 694,403
Impairment loss 11,812 0 1,783
Non-cash compensation expense 40,117 35,361 32,911
Income from unconsolidated joint ventures (2,222) (11,232) (8,074)
Gain on sale of investment in unconsolidated joint venture 0 0 (59,370)
Distributions of net cash flow from operations of unconsolidated joint ventures 6,703 26,858 24,955
(Gains) losses on investments in securities 1,865 (3,678) (2,273)
Non-cash portion of interest expense 21,303 (1,284) (35,052)
Settlement of accreted debt discount on redemption of unsecured senior notes (483) (1,980) 0
Losses (gains) from early extinguishments of debt 16,490 (496) 371
Gains on sales of real estate (182,356) (7,663) (80,606)
Change in assets and liabilities:      
Tenant and other receivables, net 29,204 2,433 3,688
Note receivable (13) 0 0
Accrued rental income, net (43,662) (58,355) (28,127)
Prepaid expenses and other assets 12,472 51,425 52,923
Accounts payable and accrued expenses 1,353 10,482 15,666
Accrued interest payable 5,237 (160,521) 53,547
Other liabilities 4,955 (44,970) (106,071)
Tenant leasing costs (130,742) (104,429) (96,103)
Total adjustments 437,682 349,498 464,571
Net cash provided by operating activities 1,150,245 911,979 1,034,548
Cash flows from investing activities:      
Acquisitions of real estate 0 (15,953) (78,000)
Construction in progress (694,791) (608,404) (500,350)
Building and other capital improvements (189,771) (222,482) (150,640)
Tenant improvements (210,034) (205,331) (230,298)
Proceeds from sales of real estate 455,409 29,810 122,750
Capital contributions to unconsolidated joint ventures (345,717) (109,015) (575,795)
Capital distributions from unconsolidated joint ventures 0 251,000 20,440
Proceeds from sale of investment in unconsolidated joint venture 0 0 55,707
Deposit on capital lease (13,615) 0 0
Issuance of related party note receivable (80,000) 0 0
Issuance of note receivable (19,455) 0 0
Investments in securities, net (902) (1,669) (1,161)
Net cash used in investing activities (1,098,876) (882,044) (1,337,347)
Cash flows from financing activities:      
Proceeds from mortgage notes payable 0 2,300,000 0
Repayments of mortgage notes payable (18,634) (1,317,653) (1,326,865)
Proceeds from unsecured senior notes 996,410 847,935 1,989,790
Redemption of unsecured senior notes (699,517) (848,020) 0
Borrowings on unsecured line of credit 745,000 580,000 25,000
Repayments of unsecured line of credit (790,000) (535,000) (25,000)
Proceeds from unsecured term loan 500,000 0 0
Repayments of mezzanine notes payable 0 (306,000) 0
Repayments of outside members’ notes payable 0 (70,424) 0
Payments on capital lease obligations (1,353) (493) (745)
Payments on real estate financing transactions (960) (2,840) (5,260)
Deposit on mortgage note payable interest rate lock 0 (23,200) 0
Return of deposit on mortgage note payable interest rate lock 0 23,200 0
Deferred financing costs (8,362) (50,705) (16,121)
Debt prepayment and extinguishment costs (15,973) (12,784) 0
Net proceeds from equity transactions (730) 241 (271)
Dividends and distributions (587,628) (526,578) (671,626)
Contributions from noncontrolling interests in property partnerships 46,701 52,009 11,951
Distributions to noncontrolling interests in property partnerships (82,501) (54,342) (55,474)
Net cash provided by (used in) financing activities 82,453 55,346 (74,621)
Net increase (decrease) in cash and cash equivalents 133,822 85,281 (377,420)
Cash and cash equivalents and cash held in escrows, beginning of year 505,369 420,088 797,508
Cash and cash equivalents and cash held in escrows, end of year 639,191 505,369 420,088
Reconciliation of cash and cash equivalents and cash held in escrow      
Cash and cash equivalents, beginning of year 434,767 356,914 723,718
Cash held in escrows, beginning of period 70,602 63,174 73,790
Cash and cash equivalents, end of year 543,359 434,767 356,914
Cash held in escrows,end of period 95,832 70,602 63,174
Supplemental disclosures:      
Cash paid for interest 416,019 598,486 433,591
Interest capitalized 65,766 61,070 39,200
Non-cash investing and financing activities:      
Write-off of fully depreciated real estate (135,431) (124,891) (206,721)
Change in real estate included in accounts payable and accrued expenses (44,866) 27,978 (1,481)
Real estate acquired through capital lease 12,397 28,962 21,000
Outside members’ notes payable contributed to noncontrolling interests in property partnerships 0 109,576 0
Dividends and distributions declared but not paid 165,114 139,040 130,308
Conversions of noncontrolling interests to stockholders’ equity 2,880 16,916 6,461
Issuance of restricted securities to employees and directors 37,052 35,989 33,615
Boston Properties Limited Partnership      
Net income 730,312 571,198 583,773
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 637,891 609,407 682,776
Impairment loss 10,181 0 1,783
Non-cash compensation expense 40,117 35,361 32,911
Income from unconsolidated joint ventures (2,222) (11,232) (8,074)
Gain on sale of investment in unconsolidated joint venture 0 0 (59,370)
Distributions of net cash flow from operations of unconsolidated joint ventures 6,703 26,858 24,955
(Gains) losses on investments in securities 1,865 (3,678) (2,273)
Non-cash portion of interest expense 21,303 (1,284) (35,052)
Settlement of accreted debt discount on redemption of unsecured senior notes (483) (1,980) 0
Losses (gains) from early extinguishments of debt 16,490 (496) 371
Gains on sales of real estate (190,716) (8,240) (82,775)
Change in assets and liabilities:      
Tenant and other receivables, net 29,204 2,433 3,688
Note receivable (13) 0 0
Accrued rental income, net (43,662) (58,355) (28,127)
Prepaid expenses and other assets 12,472 51,425 52,923
Accounts payable and accrued expenses 1,353 10,482 15,666
Accrued interest payable 5,237 (160,521) 53,547
Other liabilities 4,955 (44,970) (106,071)
Tenant leasing costs (130,742) (104,429) (96,103)
Total adjustments 419,933 340,781 450,775
Net cash provided by operating activities 1,150,245 911,979 1,034,548
Cash flows from investing activities:      
Acquisitions of real estate 0 (15,953) (78,000)
Construction in progress (694,791) (608,404) (500,350)
Building and other capital improvements (189,771) (222,482) (150,640)
Tenant improvements (210,034) (205,331) (230,298)
Proceeds from sales of real estate 455,409 29,810 122,750
Capital contributions to unconsolidated joint ventures (345,717) (109,015) (575,795)
Capital distributions from unconsolidated joint ventures 0 251,000 20,440
Proceeds from sale of investment in unconsolidated joint venture 0 0 55,707
Deposit on capital lease (13,615) 0 0
Issuance of related party note receivable (80,000) 0 0
Issuance of note receivable (19,455) 0 0
Investments in securities, net (902) (1,669) (1,161)
Net cash used in investing activities (1,098,876) (882,044) (1,337,347)
Cash flows from financing activities:      
Proceeds from mortgage notes payable 0 2,300,000 0
Repayments of mortgage notes payable (18,634) (1,317,653) (1,326,865)
Proceeds from unsecured senior notes 996,410 847,935 1,989,790
Redemption of unsecured senior notes (699,517) (848,020) 0
Borrowings on unsecured line of credit 745,000 580,000 25,000
Repayments of unsecured line of credit (790,000) (535,000) (25,000)
Proceeds from unsecured term loan 500,000 0 0
Repayments of mezzanine notes payable 0 (306,000) 0
Repayments of outside members’ notes payable 0 (70,424) 0
Payments on capital lease obligations (1,353) (493) (745)
Payments on real estate financing transactions (960) (2,840) (5,260)
Deposit on mortgage note payable interest rate lock 0 (23,200) 0
Return of deposit on mortgage note payable interest rate lock 0 23,200 0
Deferred financing costs (8,362) (50,705) (16,121)
Debt prepayment and extinguishment costs (15,973) (12,784) 0
Net proceeds from equity transactions (730) 241 (271)
Dividends and distributions (587,628) (526,578) (671,626)
Contributions from noncontrolling interests in property partnerships 46,701 52,009 11,951
Distributions to noncontrolling interests in property partnerships (82,501) (54,342) (55,474)
Net cash provided by (used in) financing activities 82,453 55,346 (74,621)
Net increase (decrease) in cash and cash equivalents 133,822 85,281 (377,420)
Cash and cash equivalents and cash held in escrows, beginning of year 505,369 420,088 797,508
Cash and cash equivalents and cash held in escrows, end of year 639,191 505,369 420,088
Reconciliation of cash and cash equivalents and cash held in escrow      
Cash and cash equivalents, beginning of year 434,767 356,914 723,718
Cash held in escrows, beginning of period 70,602 63,174 73,790
Cash and cash equivalents, end of year 543,359 434,767 356,914
Cash held in escrows,end of period 95,832 70,602 63,174
Supplemental disclosures:      
Cash paid for interest 416,019 598,486 433,591
Interest capitalized 65,766 61,070 39,237
Non-cash investing and financing activities:      
Write-off of fully depreciated real estate (135,431) (123,714) (202,388)
Change in real estate included in accounts payable and accrued expenses (44,866) 27,978 (1,481)
Real estate acquired through capital lease 12,397 28,962 21,000
Outside members’ notes payable contributed to noncontrolling interests in property partnerships 0 109,576 0
Dividends and distributions declared but not paid 165,114 139,040 130,308
Conversions of noncontrolling interests to stockholders’ equity 2,880 16,916 6,461
Issuance Of Restricted Units To Employees And Directors $ 37,052 $ 35,989 $ 33,615