Segment Information (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Schedule Of Reconciliation Of Net Operating Income To Net Income

Boston Properties, Inc.

	Year ended December 31,
	2021		2020		2019
	(in thousands)
Net income attributable to Boston Properties, Inc. common shareholders	$	496,223	$	862,227	$	511,034
Add:
Preferred stock redemption charge	6,412		—		—
Preferred dividends	2,560		10,500		10,500
Noncontrolling interest—common units of the Operating Partnership	55,931		97,704		59,345
Noncontrolling interests in property partnerships	70,806		48,260		71,120
Interest expense	423,346		431,717		412,717
Losses from early extinguishment of debt	45,182		—		29,540
Impairment loss	—		—		24,038
Net operating income from unconsolidated joint ventures	107,756		94,943		97,716
Depreciation and amortization expense	717,336		683,751		677,764
Transaction costs	5,036		1,531		1,984
Payroll and related costs from management services contracts	12,487		11,626		10,386
General and administrative expense	151,573		133,112		140,777
Less:
Net operating income attributable to noncontrolling interests in property partnerships	186,304		162,887		183,989
Gains from investments in securities	5,626		5,261		6,417
Interest and other income (loss)	5,704		5,953		18,939
Gains on sales of real estate	123,660		618,982		709
Income (loss) from unconsolidated joint ventures	(2,570)		(85,110)		46,592
Direct reimbursements of payroll and related costs from management services contracts	12,487		11,626		10,386
Development and management services revenue	27,697		29,641		40,039
Company’s share of Net Operating Income	$	1,735,740	$	1,626,131	$	1,739,850

Boston Properties Limited Partnership

	Year ended December 31,
	2021		2020		2019
	(in thousands)
Net income attributable to Boston Properties Limited Partnership common unitholders	$	561,993	$	979,979	$	580,102
Add:
Preferred unit redemption charge	6,412		—		—
Preferred distributions	2,560		10,500		10,500
Noncontrolling interests in property partnerships	70,806		48,260		71,120
Interest expense	423,346		431,717		412,717
Losses from early extinguishment of debt	45,182		—		29,540
Impairment loss	—		—		22,272
Net operating income from unconsolidated joint ventures	107,756		94,943		97,716
Depreciation and amortization expense	709,035		676,666		669,956
Transaction costs	5,036		1,531		1,984
Payroll and related costs from management services contracts	12,487		11,626		10,386
General and administrative expense	151,573		133,112		140,777
Less:
Net operating income attributable to noncontrolling interests in property partnerships	186,304		162,887		183,989
Gains from investments in securities	5,626		5,261		6,417
Interest and other income (loss)	5,704		5,953		18,939
Gains on sales of real estate	125,198		631,945		858
Income (loss) from unconsolidated joint ventures	(2,570)		(85,110)		46,592
Direct reimbursements of payroll and related costs from management services contracts	12,487		11,626		10,386
Development and management services revenue	27,697		29,641		40,039
Company’s share of Net Operating Income	$	1,735,740	$	1,626,131	$	1,739,850

Schedule Of Segment Information By Geographic Area And Property Type

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

For the year ended December 31, 2021:

	Boston			Los Angeles			New York			San Francisco			Seattle			Washington, DC			Total
Rental Revenue: (1)
Office	$	930,560		$	—		$	1,012,172		$	508,620		$	—		$	340,808		$	2,792,160
Residential	13,397			—			—			3,892			—			25,379			42,668
Hotel	13,609			—			—			—			—			—			13,609
Total	957,566			—			1,012,172			512,512			—			366,187			2,848,437
% of Grand Totals	33.62		%	—		%	35.53		%	17.99		%	—		%	12.86		%	100.00		%
Rental Expenses:
Office	322,298			—			379,267			168,040			—			127,102			996,707
Residential	5,811			—			—			6,717			—			11,916			24,444
Hotel	12,998			—			—			—			—			—			12,998
Total	341,107			—			379,267			174,757			—			139,018			1,034,149
% of Grand Totals	32.98		%	—		%	36.67		%	16.90		%	—		%	13.45		%	100.00		%
Net operating income	$	616,459		$	—		$	632,905		$	337,755		$	—		$	227,169		$	1,814,288
% of Grand Totals	33.98		%	—		%	34.88		%	18.62		%	—		%	12.52		%	100.00		%
Less: Net operating income attributable to noncontrolling interests in property partnerships	(43,232)			—			(143,072)			—			—			—			(186,304)
Add: Company’s share of net operating income from unconsolidated joint ventures	16,551			51,641			(664)			14,152			2,498			23,578			107,756
Company’s share of net operating income	$	589,778		$	51,641		$	489,169		$	351,907		$	2,498		$	250,747		$	1,735,740
% of Grand Totals	33.98		%	2.98		%	28.18		%	20.27		%	0.14		%	14.45		%	100.00		%

  _______________

(1)Rental Revenue is equal to Total Revenue per the Company’s Consolidated Statements of Operations, less Development and Management Services Revenue and Direct Reimbursements of Payroll and Related Costs from Management Services Contracts Revenue per the Consolidated Statements of Operations.

For the year ended December 31, 2020:

	Boston			Los Angeles			New York			San Francisco			Washington, DC			Total
Rental Revenue: (1)
Office	$	897,915		$	—		$	935,966		$	508,327		$	336,587		$	2,678,795
Residential	13,616			—			—			155			24,375			38,146
Hotel	7,478			—			—			—			—			7,478
Total	919,009			—			935,966			508,482			360,962			2,724,419
% of Grand Totals	33.73		%	—		%	34.36		%	18.66		%	13.25		%	100.00		%
Rental Expenses:
Office	318,509			—			384,753			163,156			132,051			998,469
Residential	5,378			—			—			2,261			11,100			18,739
Hotel	13,136			—			—			—			—			13,136
Total	337,023			—			384,753			165,417			143,151			1,030,344
% of Grand Totals	32.71		%	—		%	37.35		%	16.05		%	13.89		%	100.00		%
Net operating income	$	581,986		$	—		$	551,213		$	343,065		$	217,811		$	1,694,075
% of Grand Totals	34.35		%	—		%	32.54		%	20.25		%	12.86		%	100.00		%
Less: Net operating income attributable to noncontrolling interests in property partnerships	(41,849)			—			(121,038)			—			—			(162,887)
Add: Company’s share of net operating income from unconsolidated joint ventures	10,765			57,907			(5,326)			14,928			16,669			94,943
Company’s share of net operating income	$	550,902		$	57,907		$	424,849		$	357,993		$	234,480		$	1,626,131
% of Grand Totals	33.88		%	3.56		%	26.12		%	22.02		%	14.42		%	100.00		%

  _______________

(1)Rental Revenue is equal to Total Revenue per the Company’s Consolidated Statements of Operations, less Development and Management Services Revenue and Direct Reimbursements of Payroll and Related Costs from Management Services Contracts Revenue per the Consolidated Statements of Operations.

For the year ended December 31, 2019:

	Boston			Los Angeles			New York			San Francisco			Washington, DC			Total
Rental Revenue: (1)
Office	$	895,098		$	—		$	1,011,912		$	533,189		$	384,435		$	2,824,634
Residential	13,786			—			—			—			23,128			36,914
Hotel	48,589			—			—			—			—			48,589
Total	957,473			—			1,011,912			533,189			407,563			2,910,137
% of Grand Totals	32.90		%	—		%	34.78		%	18.32		%	14.00		%	100.00		%
Rental Expenses:
Office	322,282			—			389,532			177,994			144,217			1,034,025
Residential	5,071			—			—			—			10,914			15,985
Hotel	34,004			—			—			—			—			34,004
Total	361,357			—			389,532			177,994			155,131			1,084,014
% of Grand Totals	33.34		%	—		%	35.93		%	16.42		%	14.31		%	100.00		%
Net operating income	$	596,116		$	—		$	622,380		$	355,195		$	252,432		$	1,826,123
% of Grand Totals	32.64		%	—		%	34.09		%	19.45		%	13.82		%	100.00		%
Less: Net operating income attributable to noncontrolling interests in property partnerships	(40,109)			—			(143,432)			(448)			—			(183,989)
Add: Company’s share of net operating income from unconsolidated joint ventures	5,494			61,338			4,174			—			26,710			97,716
Company’s share of net operating income	$	561,501		$	61,338		$	483,122		$	354,747		$	279,142		$	1,739,850
% of Grand Totals	32.27		%	3.53		%	27.77		%	20.39		%	16.04		%	100.00		%

  _______________

(1)Rental Revenue is equal to Total Revenue per the Company’s Consolidated Statements of Operations, less Development and Management Services Revenue and Direct Reimbursements of Payroll and Related Costs from Management Services Contracts Revenue per the Consolidated Statements of Operations.