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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
ASSETS    
Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $6,789,029 and $6,702,830 at December 31, 2022 and December 31, 2021, respectively) $ 25,389,663 $ 23,752,630
Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at December 31, 2022 and December 31, 2021, respectively) 237,510 237,507
Right of use assets - operating leases 167,351 169,778
Less: accumulated depreciation (amounts related to VIEs of $(1,381,401) and $(1,283,060) at December 31, 2022 and December 31, 2021, respectively) (6,298,082) (5,883,961)
Total real estate 19,496,442 18,275,954
Cash and cash equivalents (amounts related to VIEs of $259,658 and $300,937 at December 31, 2022 and December 31, 2021, respectively) 690,333 452,692
Cash held in escrows 46,479 48,466
Investments in securities 32,277 43,632
Tenant and other receivables, net (amounts related to VIEs of $16,521 and $6,824 at December 31, 2022 and December 31, 2021, respectively) 81,389 70,186
Related party note receivable, net 78,576 78,336
Notes receivable, net 0 9,641
Sales-type lease receivable, net 12,811 0
Accrued rental income, net (amounts related to VIEs of $367,138 and $357,395 at December 31, 2022 and December 31, 2021, respectively) 1,276,580 1,226,745
Deferred charges, net (amounts related to VIEs of $176,597 and $174,637 at December 31, 2022 and December 31, 2021, respectively) 733,282 618,798
Prepaid expenses and other assets (amounts related to VIEs of $11,647 and $29,668 at December 31, 2022 and December 31, 2021, respectively) 43,589 57,811
Investments in unconsolidated joint ventures 1,715,911 1,482,997
Total assets 24,207,669 22,365,258
Liabilities:    
Mortgage notes payable, net (amounts related to VIEs of $3,272,368 and $3,267,914 at December 31, 2022 and December 31, 2021, respectively) 3,272,368 3,267,914
Unsecured senior notes, net 10,237,968 9,483,695
Unsecured line of credit 0 145,000
Unsecured term loan 730,000 0
Lease liabilities - finance leases (amounts related to VIEs of $20,604 and $20,458 at December 31, 2022 and December 31, 2021, respectively) 249,335 244,421
Lease liabilities - operating leases 204,686 204,561
Accounts payable and accrued expenses (amounts related to VIEs of $29,466 and $29,464 at December 31, 2022 and December 31, 2021, respectively) 417,545 320,775
Dividends and distributions payable 170,643 169,859
Accrued interest payable 103,774 94,796
Other liabilities (amounts related to VIEs of $114,232 and $150,131 at December 31, 2022 and December 31, 2021, respectively) 450,918 391,441
Total liabilities 15,837,237 14,322,462
Redeemable deferred stock units— 97,853 and 83,073 units outstanding at redemption value at December 31, 2022 and December 31, 2021, respectively $ 6,613 $ 9,568
Excess stock, shares outstanding 0 0
Excess stock, shares issued 0 0
Preferred stock / units, shares / units issued (in shares / units) 0 0
Preferred stock / units, shares / units outstanding (in shares / units) 0 0
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, 156,836,767 and 156,623,749 issued and 156,757,867 and 156,544,849 outstanding at December 31, 2022 and December 31, 2021, respectively 1,568 1,565
Additional paid-in capital 6,539,147 6,497,730
Dividends in excess of earnings (391,356) (625,891)
Treasury common stock at cost, 78,900 shares at December 31, 2022 and December 31, 2021 (2,722) (2,722)
Accumulated other comprehensive loss (13,718) (36,662)
Total stockholders' equity attributable to Boston Properties, Inc. 6,132,919 5,834,020
Noncontrolling interests:    
Common units of the Operating Partnership 683,583 642,655
Property partnerships 1,547,317 1,556,553
Total equity / capital 8,363,819 8,033,228
Total liabilities and equity / capital 24,207,669 22,365,258
Boston Properties Limited Partnership    
ASSETS    
Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $6,789,029 and $6,702,830 at December 31, 2022 and December 31, 2021, respectively) 25,022,149 23,379,243
Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at December 31, 2022 and December 31, 2021, respectively) 237,510 237,507
Right of use assets - operating leases 167,351 169,778
Less: accumulated depreciation (amounts related to VIEs of $(1,381,401) and $(1,283,060) at December 31, 2022 and December 31, 2021, respectively) (6,180,474) (5,772,018)
Total real estate 19,246,536 18,014,510
Cash and cash equivalents (amounts related to VIEs of $259,658 and $300,937 at December 31, 2022 and December 31, 2021, respectively) 690,333 452,692
Cash held in escrows 46,479 48,466
Investments in securities 32,277 43,632
Tenant and other receivables, net (amounts related to VIEs of $16,521 and $6,824 at December 31, 2022 and December 31, 2021, respectively) 81,389 70,186
Related party note receivable, net 78,576 78,336
Notes receivable, net 0 9,641
Sales-type lease receivable, net 12,811 0
Accrued rental income, net (amounts related to VIEs of $367,138 and $357,395 at December 31, 2022 and December 31, 2021, respectively) 1,276,580 1,226,745
Deferred charges, net (amounts related to VIEs of $176,597 and $174,637 at December 31, 2022 and December 31, 2021, respectively) 733,282 618,798
Prepaid expenses and other assets (amounts related to VIEs of $11,647 and $29,668 at December 31, 2022 and December 31, 2021, respectively) 43,589 57,811
Investments in unconsolidated joint ventures 1,715,911 1,482,997
Total assets 23,957,763 22,103,814
Liabilities:    
Mortgage notes payable, net (amounts related to VIEs of $3,272,368 and $3,267,914 at December 31, 2022 and December 31, 2021, respectively) 3,272,368 3,267,914
Unsecured senior notes, net 10,237,968 9,483,695
Unsecured line of credit 0 145,000
Unsecured term loan 730,000 0
Lease liabilities - finance leases (amounts related to VIEs of $20,604 and $20,458 at December 31, 2022 and December 31, 2021, respectively) 249,335 244,421
Lease liabilities - operating leases 204,686 204,561
Accounts payable and accrued expenses (amounts related to VIEs of $29,466 and $29,464 at December 31, 2022 and December 31, 2021, respectively) 417,545 320,775
Dividends and distributions payable 170,643 169,859
Accrued interest payable 103,774 94,796
Other liabilities (amounts related to VIEs of $114,232 and $150,131 at December 31, 2022 and December 31, 2021, respectively) 450,918 391,441
Total liabilities 15,837,237 14,322,462
Redeemable deferred stock units— 97,853 and 83,073 units outstanding at redemption value at December 31, 2022 and December 31, 2021, respectively 6,613 9,568
Noncontrolling interest:    
Redeemable partnership units— 16,531,172 and 16,561,186 common units and 1,679,175 and 1,485,376 long term incentive units outstanding at redemption value at December 31, 2022 and December 31, 2021, respectively 1,280,886 2,078,603
Equity / Capital:    
Boston Properties Limited Partnership partners’ capital— 1,749,682 and 1,745,914 general partner units and 155,008,185 and 154,798,935 limited partner units outstanding at December 31, 2022 and December 31, 2021, respectively 5,299,428 4,173,290
Accumulated other comprehensive loss (13,718) (36,662)
Total partners’ capital 5,285,710 4,136,628
Noncontrolling interests in property partnerships 1,547,317 1,556,553
Noncontrolling interests:    
Total equity / capital 6,833,027 5,693,181
Total liabilities and equity / capital $ 23,957,763 $ 22,103,814