XML 21 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements Of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenue        
Base rent $ 516,439 $ 520,542 $ 1,035,946 $ 1,024,104
Recoveries from tenants 95,259 89,163 190,377 178,327
Parking and other 26,904 26,462 53,038 52,072
Total rental revenue 638,602 636,167 1,279,361 1,254,503
Hotel revenue 14,607 13,375 23,709 20,795
Development and management services 9,305 7,365 17,710 13,837
Direct reimbursements of payroll and related costs from management services contracts 1,970 0 4,855 0
Total revenue 664,484 656,907 1,325,635 1,289,135
Expenses        
Rental 237,790 230,454 478,119 458,741
Hotel 8,741 8,404 16,814 15,495
General and administrative 28,468 27,141 64,362 58,527
Payroll and related costs from management services contracts 1,970 0 4,855 0
Transaction costs 474 299 495 333
Depreciation and amortization 156,417 151,919 322,214 311,124
Total expenses 433,860 418,217 886,859 844,220
Operating income 230,624 238,690 438,776 444,915
Other income (expense)        
Income from unconsolidated joint ventures 769 3,108 1,230 6,192
Interest and other income 2,579 1,504 4,227 2,118
Gains from investments in securities 505 730 379 1,772
Gains from early extinguishments of debt 0 14,354 0 14,354
Interest expense (92,204) (95,143) (182,424) (190,677)
Income before gains on sales of real estate 142,273 163,243 262,188 278,674
Gains on sales of real estate 18,292 3,767 114,689 3,900
Net income 160,565 167,010 376,877 282,574
Net income attributable to noncontrolling interests        
Noncontrolling interests in property partnerships (14,400) (15,203) (31,634) (19,627)
Noncontrolling interest—common units of Boston Properties Limited Partnership (14,859) (15,473) (35,311) (26,933)
Net income attributable to the Company 131,306 136,334 309,932 236,014
Preferred dividends / distributions (2,625) (2,625) (5,250) (5,250)
Net income attributable to the Company's common shareholders / unitholders $ 128,681 $ 133,709 $ 304,682 $ 230,764
Basic earnings per common share / unit attributable to the Company's common shareholders / unitholders        
Net income (in dollars per share / unit) $ 0.83 $ 0.87 $ 1.97 $ 1.50
Weighted average number of common shares / units outstanding 154,415 154,177 154,400 154,019
Diluted earnings per common share / unit attributable to the Company's common shareholders / unitholders        
Diluted Earnings: Net income, Per Share Amount (in dollars per share / unit) $ 0.83 $ 0.87 $ 1.97 $ 1.50
Weighted average number of common and common equivalent shares / units outstanding (in shares / units) 154,571 154,331 154,638 154,273
Dividends / Distributions, Per Share / Unit, Declared $ 0.80 $ 0.75 $ 1.60 $ 1.50
Boston Properties Limited Partnership        
Revenue        
Base rent $ 516,439 $ 520,542 $ 1,035,946 $ 1,024,104
Recoveries from tenants 95,259 89,163 190,377 178,327
Parking and other 26,904 26,462 53,038 52,072
Total rental revenue 638,602 636,167 1,279,361 1,254,503
Hotel revenue 14,607 13,375 23,709 20,795
Development and management services 9,305 7,365 17,710 13,837
Direct reimbursements of payroll and related costs from management services contracts 1,970 0 4,855 0
Total revenue 664,484 656,907 1,325,635 1,289,135
Expenses        
Rental 237,790 230,454 478,119 458,741
Hotel 8,741 8,404 16,814 15,495
General and administrative 28,468 27,141 64,362 58,527
Payroll and related costs from management services contracts 1,970 0 4,855 0
Transaction costs 474 299 495 333
Depreciation and amortization 154,474 149,834 318,327 306,892
Total expenses 431,917 416,132 882,972 839,988
Operating income 232,567 240,775 442,663 449,147
Other income (expense)        
Income from unconsolidated joint ventures 769 3,108 1,230 6,192
Interest and other income 2,579 1,504 4,227 2,118
Gains from investments in securities 505 730 379 1,772
Gains from early extinguishments of debt 0 14,354 0 14,354
Interest expense (92,204) (95,143) (182,424) (190,677)
Income before gains on sales of real estate 144,216 165,328 266,075 282,906
Gains on sales of real estate 18,770 4,344 117,677 4,477
Net income 162,986 169,672 383,752 287,383
Net income attributable to noncontrolling interests        
Noncontrolling interests in property partnerships (14,400) (15,203) (31,634) (19,627)
Net income attributable to the Company 148,586 154,469 352,118 267,756
Preferred dividends / distributions (2,625) (2,625) (5,250) (5,250)
Net income attributable to the Company's common shareholders / unitholders $ 145,961 $ 151,844 $ 346,868 $ 262,506
Basic earnings per common share / unit attributable to the Company's common shareholders / unitholders        
Net income (in dollars per share / unit) $ 0.85 $ 0.88 $ 2.02 $ 1.53
Weighted average number of common shares / units outstanding 171,916 171,675 171,892 171,628
Diluted earnings per common share / unit attributable to the Company's common shareholders / unitholders        
Diluted Earnings: Net income, Per Share Amount (in dollars per share / unit) $ 0.85 $ 0.88 $ 2.01 $ 1.53
Weighted average number of common and common equivalent shares / units outstanding (in shares / units) 172,072 171,829 172,130 171,882
Dividends / Distributions, Per Share / Unit, Declared $ 0.80 $ 0.75 $ 1.60 $ 1.50