v2.4.0.8
Consolidated Statements Of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenue        
Base rent $ 484,071 $ 449,636 $ 1,402,328 $ 1,221,874
Recoveries from tenants 90,103 80,718 253,419 213,358
Parking and other 26,236 25,000 76,869 71,984
Total rental revenue 600,410 555,354 1,732,616 1,507,216
Hotel revenue 11,918 10,652 32,478 30,061
Development and management services 6,475 5,475 18,197 22,063
Total revenue 618,803 571,481 1,783,291 1,559,340
Expenses        
Rental 215,179 199,288 624,213 544,368
Hotel 7,585 6,580 21,697 20,959
General and administrative 22,589 24,841 75,765 94,673
Transaction costs 1,402 766 2,500 1,744
Impairment loss 0 0 0 8,306
Depreciation and amortization 157,245 153,253 466,143 406,162
Total expenses 404,000 384,728 1,190,318 1,076,212
Operating income 214,803 186,753 592,973 483,128
Other income (expense)        
Income from unconsolidated joint ventures 4,419 14,736 10,069 72,240
Gains on consolidation of joint ventures 0 (1,810) 0 385,991
Interest and other income 3,421 3,879 6,841 6,646
Gains (losses) from investments in securities (297) 956 651 1,872
Gains (losses) from early extinguishments of debt 0 (30) 0 122
Interest expense (113,308) (122,173) (337,839) (325,746)
Income from continuing operations 109,038 82,311 272,695 624,253
Discontinued operations        
Income from discontinued operations 0 1,677 0 7,486
Gain on sale of real estate from discontinued operations 0 86,448 0 86,448
Gain on forgiveness of debt from discontinued operations 0 0 0 20,182
Impairment loss from discontinued operations 0 0 0 (3,241)
Income before gains on sales of real estate 109,038 170,436 272,695 735,128
Gains on sales of real estate 41,937 0 41,937 0
Net income 150,975 170,436 314,632 735,128
Net income attributable to noncontrolling interests        
Noncontrolling interests in property partnerships (5,566) 3,279 (17,473) 924
Noncontrolling interest—redeemable preferred units of the Operating Partnership (75) (1,082) (1,014) (3,385)
Noncontrolling interest—redeemable preferred units of the Operating Partnership (14,963) (8,339) (29,819) (62,945)
Noncontrolling interest—common units of the Operating Partnership 0 (8,970) 0 (11,450)
Net income attributable to Boston Properties, Inc. 130,371 155,324 266,326 658,272
Preferred dividends (2,647) (2,647) (7,854) (5,411)
Net income attributable to Boston Properties, Inc. common shareholders $ 127,724 $ 152,677 $ 258,472 $ 652,861
Basic earnings per common share attributable to Boston Properties, Inc. common shareholders:        
Income from continuing operations $ 0.83 $ 0.48 $ 1.69 $ 3.62
Discontinued operations $ 0.00 $ 0.52 $ 0.00 $ 0.65
Net income $ 0.83 $ 1.00 $ 1.69 $ 4.27
Weighted average number of common shares outstanding 153,120 152,407 153,077 152,000
Diluted earnings per common share attributable to Boston Properties, Inc. common shareholders:        
Income from continuing operations $ 0.83 $ 0.48 $ 1.69 $ 3.61
Discontinued operations $ 0.00 $ 0.52 $ 0.00 $ 0.65
Net income $ 0.83 $ 1.00 $ 1.69 $ 4.26
Weighted average number of common and common equivalent shares outstanding 153,273 152,692 153,228 152,381