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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
ASSETS    
Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $6,592,019 and $6,497,031 at December 31, 2020 and December 31, 2019, respectively) $ 22,969,110 $ 22,502,976
Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at December 31, 2020 and December 31, 2019, respectively) 237,393 237,394
Right of use assets - operating leases 146,406 148,640
Less: accumulated depreciation (amounts related to VIEs of $(1,158,548) and $(1,058,495) at December 31, 2020 and December 31, 2019, respectively) (5,534,102) (5,266,798)
Total real estate 17,818,807 17,622,212
Cash and cash equivalents (amounts related to VIEs of $340,642 and $280,033 at December 31, 2020 and December 31, 2019, respectively) 1,668,742 644,950
Cash held in escrows 50,587 46,936
Investments in securities 39,457 36,747
Tenant and other receivables, net (amounts related to VIEs of $10,911 and $28,918 at December 31, 2020 and December 31, 2019, respectively) 77,411 112,807
Related party note receivable, net 77,552 80,000
Notes receivable, net 18,729 15,920
Accrued rental income, net (amounts related to VIEs of $336,594 and $298,318 at December 31, 2020 and December 31, 2019, respectively) 1,122,502 1,038,788
Deferred charges, net (amounts related to VIEs of $183,306 and $214,769 at December 31, 2020 and December 31, 2019, respectively) 640,085 689,213
Prepaid expenses and other assets (amounts related to VIEs of $13,137 and $20,931 at December 31, 2020 and December 31, 2019, respectively) 33,840 41,685
Investments in unconsolidated joint ventures 1,310,478 955,647
Total assets 22,858,190 21,284,905
Liabilities:    
Mortgage notes payable, net (amounts related to VIEs of $2,907,590 and $2,918,806 at December 31, 2020 and December 31, 2019, respectively) 2,909,081 2,922,408
Unsecured senior notes, net 9,639,287 8,390,459
Unsecured line of credit 0 0
Unsecured term loan, net 499,390 498,939
Lease liabilities - finance leases (amounts related to VIEs of $20,306 and $20,189 at December 31, 2020 and December 31, 2019, respectively) 236,492 224,042
Lease liabilities - operating leases 201,713 200,180
Accounts payable and accrued expenses (amounts related to VIEs of $23,128 and $45,777 at December 31, 2020 and December 31, 2019, respectively) 336,264 377,553
Dividends and distributions payable 171,082 170,713
Accrued interest payable 106,288 90,016
Other liabilities (amounts related to VIEs of $158,805 and $140,110 at December 31, 2020 and December 31, 2019, respectively) 412,084 387,994
Total liabilities 14,511,681 13,262,304
Redeemable deferred stock units— 72,966 and 60,676 units outstanding at redemption value at December 31, 2020 and December 31, 2019, respectively 6,897 8,365
Equity / Capital:    
Excess stock, $0.01 par value, 150,000,000 shares authorized, none issued or outstanding 0 0
Preferred stock, $0.01 par value, 50,000,000 shares authorized;    
5.25% Series B cumulative redeemable preferred stock / units, liquidation preference $2,500 per share / unit, 80,000 shares / units issued and outstanding at December 31, 2020 and December 31, 2019, respectively 200,000 200,000
Common stock, $0.01 par value, 250,000,000 shares authorized, 155,797,725 and 154,869,198 issued and 155,718,825 and 154,790,298 outstanding at December 31, 2020 and December 31, 2019, respectively 1,557 1,548
Additional paid-in capital 6,356,791 6,294,719
Dividends in excess of earnings (509,653) (760,523)
Treasury common stock at cost, 78,900 shares at December 31, 2020 and December 31, 2019 (2,722) (2,722)
Accumulated other comprehensive loss (49,890) (48,335)
Total stockholders' equity attributable to Boston Properties, Inc. 5,996,083 5,684,687
Noncontrolling interests:    
Common units of the Operating Partnership 616,596 600,860
Property partnerships 1,726,933 1,728,689
Total equity / capital 8,339,612 8,014,236
Total liabilities and equity / capital 22,858,190 21,284,905
Boston Properties Limited Partnership    
ASSETS    
Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $6,592,019 and $6,497,031 at December 31, 2020 and December 31, 2019, respectively) 22,592,301 22,107,755
Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at December 31, 2020 and December 31, 2019, respectively) 237,393 237,394
Right of use assets - operating leases 146,406 148,640
Less: accumulated depreciation (amounts related to VIEs of $(1,158,548) and $(1,058,495) at December 31, 2020 and December 31, 2019, respectively) (5,428,576) (5,162,908)
Total real estate 17,547,524 17,330,881
Cash and cash equivalents (amounts related to VIEs of $340,642 and $280,033 at December 31, 2020 and December 31, 2019, respectively) 1,668,742 644,950
Cash held in escrows 50,587 46,936
Investments in securities 39,457 36,747
Tenant and other receivables, net (amounts related to VIEs of $10,911 and $28,918 at December 31, 2020 and December 31, 2019, respectively) 77,411 112,807
Related party note receivable, net 77,552 80,000
Notes receivable, net 18,729 15,920
Accrued rental income, net (amounts related to VIEs of $336,594 and $298,318 at December 31, 2020 and December 31, 2019, respectively) 1,122,502 1,038,788
Deferred charges, net (amounts related to VIEs of $183,306 and $214,769 at December 31, 2020 and December 31, 2019, respectively) 640,085 689,213
Prepaid expenses and other assets (amounts related to VIEs of $13,137 and $20,931 at December 31, 2020 and December 31, 2019, respectively) 33,840 41,685
Investments in unconsolidated joint ventures 1,310,478 955,647
Total assets 22,586,907 20,993,574
Liabilities:    
Mortgage notes payable, net (amounts related to VIEs of $2,907,590 and $2,918,806 at December 31, 2020 and December 31, 2019, respectively) 2,909,081 2,922,408
Unsecured senior notes, net 9,639,287 8,390,459
Unsecured line of credit 0 0
Unsecured term loan, net 499,390 498,939
Lease liabilities - finance leases (amounts related to VIEs of $20,306 and $20,189 at December 31, 2020 and December 31, 2019, respectively) 236,492 224,042
Lease liabilities - operating leases 201,713 200,180
Accounts payable and accrued expenses (amounts related to VIEs of $23,128 and $45,777 at December 31, 2020 and December 31, 2019, respectively) 336,264 377,553
Dividends and distributions payable 171,082 170,713
Accrued interest payable 106,288 90,016
Other liabilities (amounts related to VIEs of $158,805 and $140,110 at December 31, 2020 and December 31, 2019, respectively) 412,084 387,994
Total liabilities 14,511,681 13,262,304
Redeemable deferred stock units— 72,966 and 60,676 units outstanding at redemption value at December 31, 2020 and December 31, 2019, respectively 6,897 8,365
Redeemable partnership units— 16,037,121 and 16,764,466 common units and 1,336,115 and 1,143,215 long term incentive units outstanding at redemption value at December 31, 2020 and December 31, 2019, respectively 1,643,024 2,468,753
Preferred stock, $0.01 par value, 50,000,000 shares authorized;    
5.25% Series B cumulative redeemable preferred stock / units, liquidation preference $2,500 per share / unit, 80,000 shares / units issued and outstanding at December 31, 2020 and December 31, 2019, respectively 193,623 193,623
Boston Properties Limited Partnership partners’ capital— 1,730,921 and 1,726,980 general partner units and 153,987,904 and 153,063,318 limited partner units outstanding at December 31, 2020 and December 31, 2019, respectively 4,554,639 3,380,175
Accumulated other comprehensive loss (49,890) (48,335)
Total partners’ capital 4,698,372 3,525,463
Noncontrolling interests in property partnerships 1,726,933 1,728,689
Noncontrolling interests:    
Total equity / capital 6,425,305 5,254,152
Total liabilities and equity / capital $ 22,586,907 $ 20,993,574