XML 43 R28.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Segment Information (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2018
Segment Reporting [Abstract] |
Schedule Of Reconciliation Of Net Operating Income To Net Income | The following tables present reconciliations of Net Income Attributable to Boston Properties, Inc. Common Shareholders to Net Operating Income and Net Income Attributable to Boston Properties Limited Partnership Common Unitholders to Net Operating Income for the three and nine months ended September 30, 2018 and 2017. Boston Properties, Inc.
| Three months ended September 30, |  | Nine months ended September 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
| (in thousands)
Net income attributable to Boston Properties, Inc. common shareholders | $ | 119,118 |  |  | $ | 117,337 |  |  | $ | 423,835 |  |  | $ | 348,086 |
Add: |  |  |  |  |  |  |
Preferred dividends | 2,625 |  |  | 2,625 |  |  | 7,875 |  |  | 7,875 |
Noncontrolling interest—common units of Boston Properties Limited Partnership | 13,852 |  |  | 13,402 |  |  | 49,128 |  |  | 40,350 |
Noncontrolling interests in property partnerships | 14,850 |  |  | 14,340 |  |  | 46,484 |  |  | 33,967 |
Interest expense | 95,366 |  |  | 92,032 |  |  | 277,790 |  |  | 282,709 |
Depreciation and amortization expense | 157,996 |  |  | 152,164 |  |  | 480,210 |  |  | 463,288 |
Transaction costs | 914 |  |  | 239 |  |  | 1,409 |  |  | 572 |
Payroll and related costs from management services contracts | 2,516 |  |  | — |  |  | 7,371 |  |  | — |
General and administrative expense | 29,677 |  |  | 25,792 |  |  | 94,039 |  |  | 84,319 |
Less: |  |  |  |  |  |  |
Gains from early extinguishments of debt | — |  |  | — |  |  | — |  |  | 14,354 |
Gains from investments in securities | 1,075 |  |  | 944 |  |  | 1,454 |  |  | 2,716 |
Interest and other income | 2,822 |  |  | 1,329 |  |  | 7,049 |  |  | 3,447 |
Gains on sales of real estate | 7,863 |  |  | 2,891 |  |  | 122,552 |  |  | 6,791 |
Income (loss) from unconsolidated joint ventures | (4,313 | ) |  | 843 |  |  | (3,083 | ) |  | 7,035 |
Direct reimbursements of payroll and related costs from management services contracts | 2,516 |  |  | — |  |  | 7,371 |  |  | — |
Development and management services revenue | 15,253 |  |  | 10,811 |  |  | 32,963 |  |  | 24,648 |
Net Operating Income | $ | 411,698 |  |  | $ | 401,113 |  |  | $ | 1,219,835 |  |  | $ | 1,202,175 |
Boston Properties Limited Partnership
| Three months ended September 30, |  | Nine months ended September 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
| (in thousands)
Net income attributable to Boston Properties Limited Partnership common unitholders | $ | 136,201 |  |  | $ | 132,693 |  |  | $ | 483,069 |  |  | $ | 395,199 |
Add: |  |  |  |  |  |  |
Preferred distributions | 2,625 |  |  | 2,625 |  |  | 7,875 |  |  | 7,875 |
Noncontrolling interests in property partnerships | 14,850 |  |  | 14,340 |  |  | 46,484 |  |  | 33,967 |
Interest expense | 95,366 |  |  | 92,032 |  |  | 277,790 |  |  | 282,709 |
Depreciation and amortization expense | 156,056 |  |  | 150,210 |  |  | 474,383 |  |  | 457,102 |
Transaction costs | 914 |  |  | 239 |  |  | 1,409 |  |  | 572 |
Payroll and related costs from management services contracts | 2,516 |  |  | — |  |  | 7,371 |  |  | — |
General and administrative expense | 29,677 |  |  | 25,792 |  |  | 94,039 |  |  | 84,319 |
Less: |  |  |  |  |  |  |
Gains from early extinguishments of debt | — |  |  | — |  |  | — |  |  | 14,354 |
Gains from investments in securities | 1,075 |  |  | 944 |  |  | 1,454 |  |  | 2,716 |
Interest and other income | 2,822 |  |  | 1,329 |  |  | 7,049 |  |  | 3,447 |
Gains on sales of real estate | 9,154 |  |  | 2,891 |  |  | 126,831 |  |  | 7,368 |
Income (loss) from unconsolidated joint ventures | (4,313 | ) |  | 843 |  |  | (3,083 | ) |  | 7,035 |
Direct reimbursements of payroll and related costs from management services contracts | 2,516 |  |  | — |  |  | 7,371 |  |  | — |
Development and management services revenue | 15,253 |  |  | 10,811 |  |  | 32,963 |  |  | 24,648 |
Net Operating Income | $ | 411,698 |  |  | $ | 401,113 |  |  | $ | 1,219,835 |  |  | $ | 1,202,175 |
Schedule Of Segment Information By Geographic Area And Property Type | Information by geographic area and property type (dollars in thousands): For the three months ended September 30, 2018:
| Boston |  | New York |  | San Francisco |  | Washington, DC |  | Total
Rental Revenue: |  |  |  |  |  |  |  |  |
Office | $ | 210,277 |  |  | $ | 237,944 |  |  | $ | 102,035 |  |  | $ | 98,275 |  |  | $ | 648,531 |
Residential | 1,905 |  |  | — |  |  | — |  |  | 4,415 |  |  | 6,320 |
Hotel | 13,664 |  |  | — |  |  | — |  |  | — |  |  | 13,664 |
Total | 225,846 |  |  | 237,944 |  |  | 102,035 |  |  | 102,690 |  |  | 668,515 |
% of Grand Totals | 33.78 | % |  | 35.60 | % |  | 15.26 | % |  | 15.36 | % |  | 100.00 | %
Rental Expenses: |  |  |  |  |  |  |  |  |
Office | 78,089 |  |  | 96,795 |  |  | 34,016 |  |  | 35,365 |  |  | 244,265 |
Residential | 1,159 |  |  | — |  |  | — |  |  | 2,565 |  |  | 3,724 |
Hotel | 8,828 |  |  | — |  |  | — |  |  | — |  |  | 8,828 |
Total | 88,076 |  |  | 96,795 |  |  | 34,016 |  |  | 37,930 |  |  | 256,817 |
% of Grand Totals | 34.30 | % |  | 37.68 | % |  | 13.25 | % |  | 14.77 | % |  | 100.00 | %
Net operating income | $ | 137,770 |  |  | $ | 141,149 |  |  | $ | 68,019 |  |  | $ | 64,760 |  |  | $ | 411,698 |
% of Grand Totals | 33.46 | % |  | 34.29 | % |  | 16.52 | % |  | 15.73 | % |  | 100.00 | %
For the three months ended September 30, 2017:
| Boston |  | New York |  | San Francisco |  | Washington, DC |  | Total
Rental Revenue: |  |  |  |  |  |  |  |  |
Office | $ | 196,687 |  |  | $ | 242,071 |  |  | $ | 87,162 |  |  | $ | 103,622 |  |  | $ | 629,542 |
Residential | 1,228 |  |  | — |  |  | — |  |  | 3,067 |  |  | 4,295 |
Hotel | 13,064 |  |  | — |  |  | — |  |  | — |  |  | 13,064 |
Total | 210,979 |  |  | 242,071 |  |  | 87,162 |  |  | 106,689 |  |  | 646,901 |
% of Grand Totals | 32.61 | % |  | 37.43 | % |  | 13.47 | % |  | 16.49 | % |  | 100.00 | %
Rental Expenses: |  |  |  |  |  |  |  |  |
Office | 76,086 |  |  | 95,775 |  |  | 26,792 |  |  | 37,111 |  |  | 235,764 |
Residential | 512 |  |  | — |  |  | — |  |  | 1,065 |  |  | 1,577 |
Hotel | 8,447 |  |  | — |  |  | — |  |  | — |  |  | 8,447 |
Total | 85,045 |  |  | 95,775 |  |  | 26,792 |  |  | 38,176 |  |  | 245,788 |
% of Grand Totals | 34.60 | % |  | 38.97 | % |  | 10.90 | % |  | 15.53 | % |  | 100.00 | %
Net operating income | $ | 125,934 |  |  | $ | 146,296 |  |  | $ | 60,370 |  |  | $ | 68,513 |  |  | $ | 401,113 |
% of Grand Totals | 31.40 | % |  | 36.47 | % |  | 15.05 | % |  | 17.08 | % |  | 100.00 | %
For the nine months ended September 30, 2018:
| Boston |  | New York |  | San Francisco |  | Washington, DC |  | Total
Rental Revenue: |  |  |  |  |  |  |  |  |
Office | $ | 623,084 |  |  | $ | 714,348 |  |  | $ | 285,410 |  |  | $ | 296,092 |  |  | $ | 1,918,934 |
Residential | 4,252 |  |  | — |  |  | — |  |  | 11,026 |  |  | 15,278 |
Hotel | 37,373 |  |  | — |  |  | — |  |  | — |  |  | 37,373 |
Total | 664,709 |  |  | 714,348 |  |  | 285,410 |  |  | 307,118 |  |  | 1,971,585 |
% of Grand Totals | 33.71 | % |  | 36.23 | % |  | 14.48 | % |  | 15.58 | % |  | 100.00 | %
Rental Expenses: |  |  |  |  |  |  |  |  |
Office | 235,560 |  |  | 282,395 |  |  | 92,858 |  |  | 106,386 |  |  | 717,199 |
Residential | 2,379 |  |  | — |  |  | — |  |  | 6,530 |  |  | 8,909 |
Hotel | 25,642 |  |  | — |  |  | — |  |  | — |  |  | 25,642 |
Total | 263,581 |  |  | 282,395 |  |  | 92,858 |  |  | 112,916 |  |  | 751,750 |
% of Grand Totals | 35.06 | % |  | 37.57 | % |  | 12.35 | % |  | 15.02 | % |  | 100.00 | %
Net operating income | $ | 401,128 |  |  | $ | 431,953 |  |  | $ | 192,552 |  |  | $ | 194,202 |  |  | $ | 1,219,835 |
% of Grand Totals | 32.88 | % |  | 35.41 | % |  | 15.79 | % |  | 15.92 | % |  | 100.00 | %
For the nine months ended September 30, 2017:
| Boston |  | New York |  | San Francisco |  | Washington, DC |  | Total
Rental Revenue: |  |  |  |  |  |  |  |  |
Office | $ | 573,883 |  |  | $ | 735,485 |  |  | $ | 257,286 |  |  | $ | 309,225 |  |  | $ | 1,875,879 |
Residential | 3,520 |  |  | — |  |  | — |  |  | 8,941 |  |  | 12,461 |
Hotel | 33,859 |  |  | — |  |  | — |  |  | — |  |  | 33,859 |
Total | 611,262 |  |  | 735,485 |  |  | 257,286 |  |  | 318,166 |  |  | 1,922,199 |
% of Grand Totals | 31.80 | % |  | 38.27 | % |  | 13.38 | % |  | 16.55 | % |  | 100.00 | %
Rental Expenses: |  |  |  |  |  |  |  |  |
Office | 225,502 |  |  | 280,569 |  |  | 77,204 |  |  | 108,044 |  |  | 691,319 |
Residential | 1,552 |  |  | — |  |  | — |  |  | 3,211 |  |  | 4,763 |
Hotel | 23,942 |  |  | — |  |  | — |  |  | — |  |  | 23,942 |
Total | 250,996 |  |  | 280,569 |  |  | 77,204 |  |  | 111,255 |  |  | 720,024 |
% of Grand Totals | 34.86 | % |  | 38.97 | % |  | 10.72 | % |  | 15.45 | % |  | 100.00 | %
Net operating income | $ | 360,266 |  |  | $ | 454,916 |  |  | $ | 180,082 |  |  | $ | 206,911 |  |  | $ | 1,202,175 |
% of Grand Totals | 29.97 | % |  | 37.84 | % |  | 14.98 | % |  | 17.21 | % |  | 100.00 | %

X
- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8736-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration