| Schedule Of Segment Information By Geographic Area And Property Type |
For the three months ended March 31, 2012:
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Boston |
|
|
New York |
|
|
Princeton |
|
|
San Francisco |
|
|
Washington, DC |
|
|
Total |
|
|
Rental Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A Office |
|
$ |
140,871 |
|
|
$ |
117,589 |
|
|
$ |
14,850 |
|
|
$ |
52,197 |
|
|
$ |
90,398 |
|
|
$ |
415,905 |
|
|
Office/Technical |
|
|
8,167 |
|
|
|
— |
|
|
|
— |
|
|
|
52 |
|
|
|
4,092 |
|
|
|
12,311 |
|
|
Residential |
|
|
883 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
3,598 |
|
|
|
4,481 |
|
|
Hotel |
|
|
6,816 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
6,816 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
156,737 |
|
|
|
117,589 |
|
|
|
14,850 |
|
|
|
52,249 |
|
|
|
98,088 |
|
|
|
439,513 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% of Grand Totals |
|
|
35.66 |
% |
|
|
26.75 |
% |
|
|
3.38 |
% |
|
|
11.89 |
% |
|
|
22.32 |
% |
|
|
100.0 |
% |
|
Rental Expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A Office |
|
|
57,890 |
|
|
|
38,429 |
|
|
|
7,358 |
|
|
|
20,091 |
|
|
|
27,442 |
|
|
|
151,210 |
|
|
Office/Technical |
|
|
2,510 |
|
|
|
— |
|
|
|
— |
|
|
|
24 |
|
|
|
1,047 |
|
|
|
3,581 |
|
|
Residential |
|
|
390 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
2,325 |
|
|
|
2,715 |
|
|
Hotel |
|
|
6,099 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
6,099 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
66,889 |
|
|
|
38,429 |
|
|
|
7,358 |
|
|
|
20,115 |
|
|
|
30,814 |
|
|
|
163,605 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% of Grand Totals |
|
|
40.89 |
% |
|
|
23.49 |
% |
|
|
4.50 |
% |
|
|
12.29 |
% |
|
|
18.83 |
% |
|
|
100.0 |
% |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net operating income |
|
$ |
89,848 |
|
|
$ |
79,160 |
|
|
$ |
7,492 |
|
|
$ |
32,134 |
|
|
$ |
67,274 |
|
|
$ |
275,908 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% of Grand Totals |
|
|
32.56 |
% |
|
|
28.69 |
% |
|
|
2.72 |
% |
|
|
11.65 |
% |
|
|
24.38 |
% |
|
|
100.0 |
% |
For the three months ended March 31, 2011:
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Boston |
|
|
New York |
|
|
Princeton |
|
|
San Francisco |
|
|
Washington, DC |
|
|
Total |
|
|
Rental Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A Office |
|
$ |
127,429 |
|
|
$ |
113,007 |
|
|
$ |
16,279 |
|
|
$ |
52,893 |
|
|
$ |
82,680 |
|
|
$ |
392,288 |
|
|
Office/Technical |
|
|
7,558 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
3,992 |
|
|
|
11,550 |
|
|
Residential |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Hotel |
|
|
5,948 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
5,948 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
140,935 |
|
|
|
113,007 |
|
|
|
16,279 |
|
|
|
52,893 |
|
|
|
86,672 |
|
|
|
409,786 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% of Grand Totals |
|
|
34.39 |
% |
|
|
27.58 |
% |
|
|
3.97 |
% |
|
|
12.91 |
% |
|
|
21.15 |
% |
|
|
100.0 |
% |
|
Rental Expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class A Office |
|
|
47,901 |
|
|
|
37,715 |
|
|
|
7,915 |
|
|
|
19,333 |
|
|
|
23,165 |
|
|
|
136,029 |
|
|
Office/Technical |
|
|
2,479 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,122 |
|
|
|
3,601 |
|
|
Residential |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Hotel |
|
|
5,739 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
5,739 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
56,119 |
|
|
|
37,715 |
|
|
|
7,915 |
|
|
|
19,333 |
|
|
|
24,287 |
|
|
|
145,369 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% of Grand Totals |
|
|
38.61 |
% |
|
|
25.94 |
% |
|
|
5.44 |
% |
|
|
13.30 |
% |
|
|
16.71 |
% |
|
|
100.0 |
% |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net operating income |
|
$ |
84,816 |
|
|
$ |
75,292 |
|
|
$ |
8,364 |
|
|
$ |
33,560 |
|
|
$ |
62,385 |
|
|
$ |
264,417 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% of Grand Totals |
|
|
32.08 |
% |
|
|
28.48 |
% |
|
|
3.16 |
% |
|
|
12.69 |
% |
|
|
23.59 |
% |
|
|
100.0 |
% |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Schedule Of Reconciliation Of Net Operating Income To Net Income |
| |
|
|
|
|
|
|
|
|
| |
|
Three months ended March 31, |
|
| |
|
2012 |
|
|
2011 |
|
|
Net Operating Income |
|
$ |
275,908 |
|
|
$ |
264,417 |
|
|
Add: |
|
|
|
|
|
|
|
|
|
Development and management services income |
|
|
8,149 |
|
|
|
7,428 |
|
|
Income from unconsolidated joint ventures |
|
|
11,721 |
|
|
|
7,976 |
|
|
Interest and other income |
|
|
1,646 |
|
|
|
974 |
|
|
Gains from investments in securities |
|
|
801 |
|
|
|
373 |
|
|
Gains from early extinguishments of debt |
|
|
767 |
|
|
|
— |
|
|
Gain on forgiveness of debt from discontinued operations |
|
|
17,807 |
|
|
|
— |
|
|
Less: |
|
|
|
|
|
|
|
|
|
General and administrative expense |
|
|
27,619 |
|
|
|
24,643 |
|
|
Transaction costs |
|
|
2,104 |
|
|
|
72 |
|
|
Depreciation and amortization expense |
|
|
109,673 |
|
|
|
109,237 |
|
|
Interest expense |
|
|
103,237 |
|
|
|
98,525 |
|
|
Loss from discontinued operations |
|
|
156 |
|
|
|
497 |
|
|
Noncontrolling interest in property partnerships |
|
|
546 |
|
|
|
529 |
|
|
Noncontrolling interest—redeemable preferred units of the Operating Partnership |
|
|
801 |
|
|
|
823 |
|
|
Noncontrolling interest—common units of the Operating Partnership |
|
|
6,089 |
|
|
|
6,090 |
|
|
Noncontrolling interest in discontinued operations—common units of the Operating Partnership |
|
|
1,942 |
|
|
|
(61 |
) |
| |
|
|
|
|
|
|
|
|
|
Net income attributable to Boston Properties, Inc. |
|
$ |
64,632 |
|
|
$ |
40,813 |
|
| |
|
|
|
|
|
|
|
| |