XML 16 R2.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
ASSETS    
Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $6,717,227 and $6,702,830 at March 31, 2022 and December 31, 2021, respectively) $ 23,902,226 $ 23,752,630
Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at March 31, 2022 and December 31, 2021, respectively) 237,501 237,507
Right of use assets - operating leases 169,248 169,778
Less: accumulated depreciation (amounts related to VIEs of $(1,306,601) and $(1,283,060) at March 31, 2022 and December 31, 2021, respectively) (5,995,760) (5,883,961)
Real estate and development in process, net 18,313,215 18,275,954
Cash and cash equivalents (amounts related to VIEs of $266,593 and $300,937 at March 31, 2022 and December 31, 2021, respectively) 436,271 452,692
Cash held in escrows 46,072 48,466
Investments in securities 36,032 43,632
Tenant and other receivables, net (amounts related to VIEs of $8,414 and $6,824 at March 31, 2022 and December 31, 2021, respectively) 56,132 70,186
Related party note receivable, net 78,544 78,336
Notes receivable, net 9,674 9,641
Accrued rental income, net (amounts related to VIEs of $356,640 and $357,395 at March 31, 2022 and December 31, 2021, respectively) 1,243,395 1,226,745
Deferred charges, net (amounts related to VIEs of $174,063 and $174,637 at March 31, 2022 and December 31, 2021, respectively) 609,205 618,798
Prepaid expenses and other assets (amounts related to VIEs of $39,362 and $29,668 at March 31, 2022 and December 31, 2021, respectively) 128,472 57,811
Investments in unconsolidated joint ventures 1,518,622 1,482,997
Total assets 22,475,634 22,365,258
Liabilities:    
Secured Debt 3,268,745 3,267,914
Unsecured senior notes, net 9,486,379 9,483,695
Unsecured line of credit 255,000 145,000
Lease liabilities - finance leases (amounts related to VIEs of $20,420 and $20,458 at March 31, 2022 and December 31, 2021, respectively) 245,554 244,421
Lease liabilities - operating leases 204,677 204,561
Accounts payable and accrued expenses (amounts related to VIEs of $30,804 and $29,464 at March 31, 2022 and December 31, 2021, respectively) 304,576 320,775
Dividends and distributions payable 170,869 169,859
Accrued interest payable 90,861 94,796
Preferred stock redemption liability 0  
Other liabilities (amounts related to VIEs of $128,581 and $150,131 at March 31, 2022 and December 31, 2021, respectively) 396,283 391,441
Total liabilities 14,422,944 14,322,462
Redeemable deferred stock units— 85,645 and 83,073 units outstanding at redemption value at March 31, 2022 and December 31, 2021, respectively 11,031 9,568
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, none issued or outstanding    
Common stock, $0.01 par value, 250,000,000 shares authorized, 156,790,614 and 156,623,749 issued and 156,711,714 and 156,544,849 outstanding at March 31, 2022 and December 31, 2021, respectively 1,567 1,565
Additional paid-in capital 6,509,663 6,497,730
Dividends in excess of earnings (636,421) (625,891)
Treasury common stock at cost, 78,900 shares at March 31, 2022 and December 31, 2021 (2,722) (2,722)
Accumulated other comprehensive loss (28,485) (36,662)
Total stockholders' equity attributable to Boston Properties, Inc. 5,843,602 5,834,020
Noncontrolling interests:    
Common units of the Operating Partnership 649,602 642,655
Property partnerships 1,548,455 1,556,553
Total equity / capital 8,041,659 8,033,228
Total liabilities and equity / capital $ 22,475,634 $ 22,365,258
Preferred stock, shares authorized 50,000,000 50,000,000
Preferred stock, par value $ 0.01 $ 0.01
Boston Properties Limited Partnership    
ASSETS    
Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $6,717,227 and $6,702,830 at March 31, 2022 and December 31, 2021, respectively) $ 23,529,828 $ 23,379,243
Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at March 31, 2022 and December 31, 2021, respectively) 237,501 237,507
Right of use assets - operating leases 169,248 169,778
Less: accumulated depreciation (amounts related to VIEs of $(1,306,601) and $(1,283,060) at March 31, 2022 and December 31, 2021, respectively) (5,882,385) (5,772,018)
Real estate and development in process, net 18,054,192 18,014,510
Cash and cash equivalents (amounts related to VIEs of $266,593 and $300,937 at March 31, 2022 and December 31, 2021, respectively) 436,271 452,692
Cash held in escrows 46,072 48,466
Investments in securities 36,032 43,632
Tenant and other receivables, net (amounts related to VIEs of $8,414 and $6,824 at March 31, 2022 and December 31, 2021, respectively) 56,132 70,186
Related party note receivable, net 78,544 78,336
Notes receivable, net 9,674 9,641
Accrued rental income, net (amounts related to VIEs of $356,640 and $357,395 at March 31, 2022 and December 31, 2021, respectively) 1,243,395 1,226,745
Deferred charges, net (amounts related to VIEs of $174,063 and $174,637 at March 31, 2022 and December 31, 2021, respectively) 609,205 618,798
Prepaid expenses and other assets (amounts related to VIEs of $39,362 and $29,668 at March 31, 2022 and December 31, 2021, respectively) 128,472 57,811
Investments in unconsolidated joint ventures 1,518,622 1,482,997
Total assets 22,216,611 22,103,814
Liabilities:    
Secured Debt 3,268,745 3,267,914
Unsecured senior notes, net 9,486,379 9,483,695
Unsecured line of credit 255,000 145,000
Lease liabilities - finance leases (amounts related to VIEs of $20,420 and $20,458 at March 31, 2022 and December 31, 2021, respectively) 245,554 244,421
Lease liabilities - operating leases 204,677 204,561
Accounts payable and accrued expenses (amounts related to VIEs of $30,804 and $29,464 at March 31, 2022 and December 31, 2021, respectively) 304,576 320,775
Dividends and distributions payable 170,869 169,859
Accrued interest payable 90,861 94,796
Preferred stock redemption liability 0  
Other liabilities (amounts related to VIEs of $128,581 and $150,131 at March 31, 2022 and December 31, 2021, respectively) 396,283 391,441
Total liabilities 14,422,944 14,322,462
Redeemable deferred stock units— 85,645 and 83,073 units outstanding at redemption value at March 31, 2022 and December 31, 2021, respectively 11,031 9,568
Noncontrolling interest:    
Redeemable partnership units— 16,550,441 and 16,561,186 common units and 1,678,082 and 1,485,376 long term incentive units outstanding at redemption value at March 31, 2022 and December 31, 2021, respectively 2,347,834 2,078,603
Preferred stock, $0.01 par value, 50,000,000 shares authorized, none issued or outstanding    
Boston Properties Limited Partnership partners’ capital— 1,749,402 and 1,745,914 general partner units and 154,962,312 and 154,798,935 limited partner units outstanding at March 31, 2022 and December 31, 2021, respectively 3,914,832 4,173,290
Accumulated other comprehensive loss (28,485) (36,662)
Total partners’ capital 3,886,347 4,136,628
Noncontrolling interests in property partnerships 1,548,455 1,556,553
Noncontrolling interests:    
Total equity / capital 5,434,802 5,693,181
Total liabilities and equity / capital $ 22,216,611 $ 22,103,814
NonControlling Interest Redeemable Partnership Units Common Units Shares Outstanding 16,550,441 16,561,186
NonControlling Interest Redeemable Partnership Units Common Units Long Term Incentive Units At Redemption Value Shares Outstanding 1,678,082 1,485,376