XML 16 R2.htm IDEA: XBRL DOCUMENT v3.22.2.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
ASSETS    
Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $6,753,779 and $6,702,830 at September 30, 2022 and December 31, 2021, respectively) $ 25,192,376 $ 23,752,630
Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at September 30, 2022 and December 31, 2021, respectively) 237,505 237,507
Right of use assets - operating leases 167,935 169,778
Less: accumulated depreciation (amounts related to VIEs of $(1,352,781) and $(1,283,060) at September 30, 2022 and December 31, 2021, respectively) (6,170,472) (5,883,961)
Real estate and development in process, net 19,427,344 18,275,954
Cash and cash equivalents (amounts related to VIEs of $249,124 and $300,937 at September 30, 2022 and December 31, 2021, respectively) 375,774 452,692
Cash held in escrows 73,112 48,466
Investments in securities 30,040 43,632
Tenant and other receivables, net (amounts related to VIEs of $11,842 and $6,824 at September 30, 2022 and December 31, 2021, respectively) 69,633 70,186
Related party note receivable, net 78,592 78,336
Notes receivable, net 0 9,641
Accrued rental income, net (amounts related to VIEs of $359,439 and $357,395 at September 30, 2022 and December 31, 2021, respectively) 1,250,176 1,226,745
Deferred charges, net (amounts related to VIEs of $176,908 and $174,637 at September 30, 2022 and December 31, 2021, respectively) 720,648 618,798
Prepaid expenses and other assets (amounts related to VIEs of $44,525 and $29,668 at September 30, 2022 and December 31, 2021, respectively) 107,538 57,811
Investments in unconsolidated joint ventures 1,593,834 1,482,997
Total assets 23,726,691 22,365,258
Liabilities:    
Mortgage notes payable, net (amounts related to VIEs of $3,271,157 and $3,267,914 at September 30, 2022 and December 31, 2021, respectively) 3,271,157 3,267,914
Unsecured senior notes, net 9,491,714 9,483,695
Unsecured line of credit 340,000 145,000
Unsecured term loan 730,000 0
Lease liabilities - finance leases (amounts related to VIEs of $20,568 and $20,458 at September 30, 2022 and December 31, 2021, respectively) 248,092 244,421
Lease liabilities - operating leases 205,008 204,561
Accounts payable and accrued expenses (amounts related to VIEs of $35,043 and $29,464 at September 30, 2022 and December 31, 2021, respectively) 360,572 320,775
Dividends and distributions payable 170,952 169,859
Accrued interest payable 91,885 94,796
Other liabilities (amounts related to VIEs of $104,663 and $150,131 at September 30, 2022 and December 31, 2021, respectively) 417,255 391,441
Total liabilities 15,326,635 14,322,462
Redeemable deferred stock units— 93,175 and 83,073 units outstanding at redemption value at September 30, 2022 and December 31, 2021, respectively 6,985 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 0 0
Common stock, $0.01 par value, 250,000,000 shares authorized, 156,833,612 and 156,623,749 issued and 156,754,712 and 156,544,849 outstanding at September 30, 2022 and December 31, 2021, respectively 1,568 1,565
Additional paid-in capital 6,532,299 6,497,730
Dividends in excess of earnings (359,536) (625,891)
Treasury common stock at cost, 78,900 shares at September 30, 2022 and December 31, 2021 (2,722) (2,722)
Accumulated other comprehensive loss (15,991) (36,662)
Total stockholders' equity attributable to Boston Properties, Inc. 6,155,618 5,834,020
Noncontrolling interests:    
Common units of the Operating Partnership 685,952 642,655
Property partnerships 1,551,501 1,556,553
Total equity / capital 8,393,071 8,033,228
Total liabilities and equity / capital 23,726,691 22,365,258
Boston Properties Limited Partnership    
ASSETS    
Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $6,753,779 and $6,702,830 at September 30, 2022 and December 31, 2021, respectively) 24,824,862 23,379,243
Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at September 30, 2022 and December 31, 2021, respectively) 237,505 237,507
Right of use assets - operating leases 167,935 169,778
Less: accumulated depreciation (amounts related to VIEs of $(1,352,781) and $(1,283,060) at September 30, 2022 and December 31, 2021, respectively) (6,055,172) (5,772,018)
Real estate and development in process, net 19,175,130 18,014,510
Cash and cash equivalents (amounts related to VIEs of $249,124 and $300,937 at September 30, 2022 and December 31, 2021, respectively) 375,774 452,692
Cash held in escrows 73,112 48,466
Investments in securities 30,040 43,632
Tenant and other receivables, net (amounts related to VIEs of $11,842 and $6,824 at September 30, 2022 and December 31, 2021, respectively) 69,633 70,186
Related party note receivable, net 78,592 78,336
Notes receivable, net 0 9,641
Accrued rental income, net (amounts related to VIEs of $359,439 and $357,395 at September 30, 2022 and December 31, 2021, respectively) 1,250,176 1,226,745
Deferred charges, net (amounts related to VIEs of $176,908 and $174,637 at September 30, 2022 and December 31, 2021, respectively) 720,648 618,798
Prepaid expenses and other assets (amounts related to VIEs of $44,525 and $29,668 at September 30, 2022 and December 31, 2021, respectively) 107,538 57,811
Investments in unconsolidated joint ventures 1,593,834 1,482,997
Total assets 23,474,477 22,103,814
Liabilities:    
Mortgage notes payable, net (amounts related to VIEs of $3,271,157 and $3,267,914 at September 30, 2022 and December 31, 2021, respectively) 3,271,157 3,267,914
Unsecured senior notes, net 9,491,714 9,483,695
Unsecured line of credit 340,000 145,000
Unsecured term loan 730,000 0
Lease liabilities - finance leases (amounts related to VIEs of $20,568 and $20,458 at September 30, 2022 and December 31, 2021, respectively) 248,092 244,421
Lease liabilities - operating leases 205,008 204,561
Accounts payable and accrued expenses (amounts related to VIEs of $35,043 and $29,464 at September 30, 2022 and December 31, 2021, respectively) 360,572 320,775
Dividends and distributions payable 170,952 169,859
Accrued interest payable 91,885 94,796
Other liabilities (amounts related to VIEs of $104,663 and $150,131 at September 30, 2022 and December 31, 2021, respectively) 417,255 391,441
Total liabilities 15,326,635 14,322,462
Redeemable deferred stock units— 93,175 and 83,073 units outstanding at redemption value at September 30, 2022 and December 31, 2021, respectively 6,985 9,568
Noncontrolling interest:    
Redeemable partnership units— 16,535,172 and 16,561,186 common units and 1,680,123 and 1,485,376 long term incentive units outstanding at redemption value at September 30, 2022 and December 31, 2021, respectively 1,407,762 2,078,603
Equity / Capital:    
Boston Properties Limited Partnership partners’ capital— 1,749,700 and 1,745,914 general partner units and 155,005,012 and 154,798,935 limited partner units outstanding at September 30, 2022 and December 31, 2021, respectively 5,197,585 4,173,290
Accumulated other comprehensive loss (15,991) (36,662)
Total partners’ capital 5,181,594 4,136,628
Noncontrolling interests in property partnerships 1,551,501 1,556,553
Noncontrolling interests:    
Total equity / capital 6,733,095 5,693,181
Total liabilities and equity / capital $ 23,474,477 $ 22,103,814