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Consolidated Balance Sheets - USD ($)
shares in Thousands, $ in Thousands
Jun. 30, 2023
Dec. 31, 2022
ASSETS    
Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $6,870,107 and $6,789,029 at June 30, 2023 and December 31, 2022, respectively) $ 25,762,722 $ 25,389,663
Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at June 30, 2023 and December 31, 2022, respectively) 237,526 237,510
Right of use assets - operating leases 166,421 167,351
Less: accumulated depreciation (amounts related to VIEs of $(1,434,592) and $(1,381,401) at June 30, 2023 and December 31, 2022, respectively) (6,568,568) (6,298,082)
Total real estate 19,598,101 19,496,442
Cash and cash equivalents (amounts related to VIEs of $256,201 and $259,658 at June 30, 2023 and December 31, 2022, respectively) 1,581,575 690,333
Cash held in escrows 46,915 46,479
Investments in securities 33,481 32,277
Tenant and other receivables, net (amounts related to VIEs of $13,921 and $16,521 at June 30, 2023 and December 31, 2022, respectively) 91,968 81,389
Related party note receivable, net 88,834 78,576
Sales-type lease receivable, net 13,250 12,811
Accrued rental income, net (amounts related to VIEs of $382,622 and $367,138 at June 30, 2023 and December 31, 2022, respectively) 1,318,320 1,276,580
Deferred charges, net (amounts related to VIEs of $172,655 and $176,597 at June 30, 2023 and December 31, 2022, respectively) 710,820 733,282
Prepaid expenses and other assets (amounts related to VIEs of $13,534 and $11,647 at June 30, 2023 and December 31, 2022, respectively) 77,457 43,589
Investments in unconsolidated joint ventures 1,780,959 1,715,911
Total assets 25,341,680 24,207,669
Liabilities:    
Mortgage notes payable, net (amounts related to VIEs of $3,274,764 and $3,272,368 at June 30, 2023 and December 31, 2022, respectively) 3,274,764 3,272,368
Unsecured senior notes, net 10,985,395 10,237,968
Unsecured line of credit 0 0
Unsecured term loan 1,196,046 730,000
Lease liabilities - finance leases (amounts related to VIEs of $20,675 and $20,604 at June 30, 2023 and December 31, 2022, respectively) 251,874 249,335
Lease liabilities - operating leases 204,826 204,686
Accounts payable and accrued expenses (amounts related to VIEs of $57,852 and $29,466 at June 30, 2023 and December 31, 2022, respectively) 434,574 417,545
Dividends and distributions payable 171,465 170,643
Accrued interest payable 111,088 103,774
Other liabilities (amounts related to VIEs of $101,301 and $114,232 at June 30, 2023 and December 31, 2022, respectively) 418,813 450,918
Total liabilities 17,048,845 15,837,237
Redeemable deferred stock units— 108,642 and 97,853 units outstanding at redemption value at June 30, 2023 and December 31, 2022, respectively $ 6,292 $ 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, 156,932,300 and 156,836,767 issued and 156,853,400 and 156,757,867 outstanding at June 30, 2023 and December 31, 2022, respectively 1,569 1,568
Additional paid-in capital 6,561,161 6,539,147
Dividends in excess of earnings (516,550) (391,356)
Treasury common stock at cost, 78,900 shares at June 30, 2023 and December 31, 2022 (2,722) (2,722)
Accumulated other comprehensive loss (3,406) (13,718)
Total stockholders' equity attributable to Boston Properties, Inc. 6,040,052 6,132,919
Noncontrolling interests:    
Common units of the Operating Partnership 689,123 683,583
Property partnerships 1,557,368 1,547,317
Total equity / capital 8,286,543 8,363,819
Total liabilities and equity / capital 25,341,680 24,207,669
Boston Properties Limited Partnership    
ASSETS    
Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $6,870,107 and $6,789,029 at June 30, 2023 and December 31, 2022, respectively) 25,396,457 25,022,149
Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at June 30, 2023 and December 31, 2022, respectively) 237,526 237,510
Right of use assets - operating leases 166,421 167,351
Less: accumulated depreciation (amounts related to VIEs of $(1,434,592) and $(1,381,401) at June 30, 2023 and December 31, 2022, respectively) (6,448,665) (6,180,474)
Total real estate 19,351,739 19,246,536
Cash and cash equivalents (amounts related to VIEs of $256,201 and $259,658 at June 30, 2023 and December 31, 2022, respectively) 1,581,575 690,333
Cash held in escrows 46,915 46,479
Investments in securities 33,481 32,277
Tenant and other receivables, net (amounts related to VIEs of $13,921 and $16,521 at June 30, 2023 and December 31, 2022, respectively) 91,968 81,389
Related party note receivable, net 88,834 78,576
Sales-type lease receivable, net 13,250 12,811
Accrued rental income, net (amounts related to VIEs of $382,622 and $367,138 at June 30, 2023 and December 31, 2022, respectively) 1,318,320 1,276,580
Deferred charges, net (amounts related to VIEs of $172,655 and $176,597 at June 30, 2023 and December 31, 2022, respectively) 710,820 733,282
Prepaid expenses and other assets (amounts related to VIEs of $13,534 and $11,647 at June 30, 2023 and December 31, 2022, respectively) 77,457 43,589
Investments in unconsolidated joint ventures 1,780,959 1,715,911
Total assets 25,095,318 23,957,763
Liabilities:    
Mortgage notes payable, net (amounts related to VIEs of $3,274,764 and $3,272,368 at June 30, 2023 and December 31, 2022, respectively) 3,274,764 3,272,368
Unsecured senior notes, net 10,985,395 10,237,968
Unsecured line of credit 0 0
Unsecured term loan 1,196,046 730,000
Lease liabilities - finance leases (amounts related to VIEs of $20,675 and $20,604 at June 30, 2023 and December 31, 2022, respectively) 251,874 249,335
Lease liabilities - operating leases 204,826 204,686
Accounts payable and accrued expenses (amounts related to VIEs of $57,852 and $29,466 at June 30, 2023 and December 31, 2022, respectively) 434,574 417,545
Dividends and distributions payable 171,465 170,643
Accrued interest payable 111,088 103,774
Other liabilities (amounts related to VIEs of $101,301 and $114,232 at June 30, 2023 and December 31, 2022, respectively) 418,813 450,918
Total liabilities 17,048,845 15,837,237
Redeemable deferred stock units— 108,642 and 97,853 units outstanding at redemption value at June 30, 2023 and December 31, 2022, respectively 6,292 6,613
Noncontrolling interest:    
Redeemable partnership units— 16,522,540 and 16,531,172 common units and 2,135,852 and 1,679,175 long term incentive units outstanding at redemption value at June 30, 2023 and December 31, 2022, respectively 1,135,053 1,280,886
Equity / Capital:    
Boston Properties Limited Partnership partners’ capital— 1,755,118 and 1,749,682 general partner units and 155,098,282 and 155,008,185 limited partner units outstanding at June 30, 2023 and December 31, 2022, respectively 5,351,166 5,299,428
Accumulated other comprehensive loss (3,406) (13,718)
Total partners’ capital 5,347,760 5,285,710
Noncontrolling interests in property partnerships 1,557,368 1,547,317
Noncontrolling interests:    
Total equity / capital 6,905,128 6,833,027
Total liabilities and equity / capital $ 25,095,318 $ 23,957,763