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Consolidated Balance Sheets - USD ($)
shares in Thousands, $ in Thousands
Mar. 31, 2023
Dec. 31, 2022
ASSETS    
Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $6,832,119 and $6,789,029 at March 31, 2023 and December 31, 2022, respectively) $ 25,559,720 $ 25,389,663
Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at March 31, 2023 and December 31, 2022, respectively) 237,503 237,510
Right of use assets - operating leases 166,699 167,351
Less: accumulated depreciation (amounts related to VIEs of $(1,405,167) and $(1,381,401) at March 31, 2023 and December 31, 2022, respectively) (6,424,547) (6,298,082)
Total real estate 19,539,375 19,496,442
Cash and cash equivalents (amounts related to VIEs of $233,981 and $259,658 at March 31, 2023 and December 31, 2022, respectively) 918,952 690,333
Cash held in escrows 45,330 46,479
Investments in securities 32,099 32,277
Tenant and other receivables, net (amounts related to VIEs of $13,108 and $16,521 at March 31, 2023 and December 31, 2022, respectively) 85,603 81,389
Related party note receivable, net 78,544 78,576
Sales-type lease receivable, net 13,028 12,811
Accrued rental income, net (amounts related to VIEs of $375,008 and $367,138 at March 31, 2023 and December 31, 2022, respectively) 1,297,767 1,276,580
Deferred charges, net (amounts related to VIEs of $172,077 and $176,597 at March 31, 2023 and December 31, 2022, respectively) 720,174 733,282
Prepaid expenses and other assets (amounts related to VIEs of $40,737 and $11,647 at March 31, 2023 and December 31, 2022, respectively) 141,933 43,589
Investments in unconsolidated joint ventures 1,752,617 1,715,911
Total assets 24,625,422 24,207,669
Liabilities:    
Mortgage notes payable, net (amounts related to VIEs of $3,273,553 and $3,272,368 at March 31, 2023 and December 31, 2022, respectively) 3,273,553 3,272,368
Unsecured senior notes, net 10,240,967 10,237,968
Unsecured line of credit 0 0
Unsecured term loan 1,194,916 730,000
Lease liabilities - finance leases (amounts related to VIEs of $20,641 and $20,604 at March 31, 2023 and December 31, 2022, respectively) 250,567 249,335
Lease liabilities - operating leases 204,435 204,686
Accounts payable and accrued expenses (amounts related to VIEs of $37,595 and $29,466 at March 31, 2023 and December 31, 2022, respectively) 397,798 417,545
Dividends and distributions payable 171,427 170,643
Accrued interest payable 114,400 103,774
Other liabilities (amounts related to VIEs of $114,694 and $114,232 at March 31, 2023 and December 31, 2022, respectively) 465,276 450,918
Total liabilities 16,313,339 15,837,237
Redeemable deferred stock units— 103,454 and 97,853 units outstanding at redemption value at March 31, 2023 and December 31, 2022, respectively $ 5,599 $ 6,613
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, 156,908,693 and 156,836,767 issued and 156,829,793 and 156,757,867 outstanding at March 31, 2023 and December 31, 2022, respectively 1,568 1,568
Additional paid-in capital 6,549,314 6,539,147
Dividends in excess of earnings (467,159) (391,356)
Treasury common stock at cost, 78,900 shares at March 31, 2023 and December 31, 2022 (2,722) (2,722)
Accumulated other comprehensive loss (18,214) (13,718)
Total stockholders' equity attributable to Boston Properties, Inc. 6,062,787 6,132,919
Noncontrolling interests:    
Common units of the Operating Partnership 691,627 683,583
Property partnerships 1,552,070 1,547,317
Total equity / capital 8,306,484 8,363,819
Total liabilities and equity / capital 24,625,422 24,207,669
Boston Properties Limited Partnership    
ASSETS    
Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $6,832,119 and $6,789,029 at March 31, 2023 and December 31, 2022, respectively) 25,193,455 25,022,149
Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at March 31, 2023 and December 31, 2022, respectively) 237,503 237,510
Right of use assets - operating leases 166,699 167,351
Less: accumulated depreciation (amounts related to VIEs of $(1,405,167) and $(1,381,401) at March 31, 2023 and December 31, 2022, respectively) (6,306,326) (6,180,474)
Total real estate 19,291,331 19,246,536
Cash and cash equivalents (amounts related to VIEs of $233,981 and $259,658 at March 31, 2023 and December 31, 2022, respectively) 918,952 690,333
Cash held in escrows 45,330 46,479
Investments in securities 32,099 32,277
Tenant and other receivables, net (amounts related to VIEs of $13,108 and $16,521 at March 31, 2023 and December 31, 2022, respectively) 85,603 81,389
Related party note receivable, net 78,544 78,576
Sales-type lease receivable, net 13,028 12,811
Accrued rental income, net (amounts related to VIEs of $375,008 and $367,138 at March 31, 2023 and December 31, 2022, respectively) 1,297,767 1,276,580
Deferred charges, net (amounts related to VIEs of $172,077 and $176,597 at March 31, 2023 and December 31, 2022, respectively) 720,174 733,282
Prepaid expenses and other assets (amounts related to VIEs of $40,737 and $11,647 at March 31, 2023 and December 31, 2022, respectively) 141,933 43,589
Investments in unconsolidated joint ventures 1,752,617 1,715,911
Total assets 24,377,378 23,957,763
Liabilities:    
Mortgage notes payable, net (amounts related to VIEs of $3,273,553 and $3,272,368 at March 31, 2023 and December 31, 2022, respectively) 3,273,553 3,272,368
Unsecured senior notes, net 10,240,967 10,237,968
Unsecured line of credit 0 0
Unsecured term loan 1,194,916 730,000
Lease liabilities - finance leases (amounts related to VIEs of $20,641 and $20,604 at March 31, 2023 and December 31, 2022, respectively) 250,567 249,335
Lease liabilities - operating leases 204,435 204,686
Accounts payable and accrued expenses (amounts related to VIEs of $37,595 and $29,466 at March 31, 2023 and December 31, 2022, respectively) 397,798 417,545
Dividends and distributions payable 171,427 170,643
Accrued interest payable 114,400 103,774
Other liabilities (amounts related to VIEs of $114,694 and $114,232 at March 31, 2023 and December 31, 2022, respectively) 465,276 450,918
Total liabilities 16,313,339 15,837,237
Redeemable deferred stock units— 103,454 and 97,853 units outstanding at redemption value at March 31, 2023 and December 31, 2022, respectively 5,599 6,613
Noncontrolling interest:    
Redeemable partnership units— 16,527,638 and 16,531,172 common units and 2,131,785 and 1,679,175 long term incentive units outstanding at redemption value at March 31, 2023 and December 31, 2022, respectively 1,074,648 1,280,886
Equity / Capital:    
Boston Properties Limited Partnership partners’ capital— 1,754,892 and 1,749,682 general partner units and 155,074,901 and 155,008,185 limited partner units outstanding at March 31, 2023 and December 31, 2022, respectively 5,449,936 5,299,428
Accumulated other comprehensive loss (18,214) (13,718)
Total partners’ capital 5,431,722 5,285,710
Noncontrolling interests in property partnerships 1,552,070 1,547,317
Noncontrolling interests:    
Total equity / capital 6,983,792 6,833,027
Total liabilities and equity / capital $ 24,377,378 $ 23,957,763