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Real Estate (Tables)

6 Months Ended

Jun. 30, 2019

Entity Information [Line Items]

Schedule of Real Estate Properties [Table Text Block]

Boston Properties, Inc.

Real estate consisted of the following at June 30, 2019 and December 31, 2018 (in thousands):

	June 30, 2019				December 31, 2018
Land	$	5,056,046			$	5,072,568
Right of use assets - finance leases	187,269				—
Right of use assets - operating leases	149,839				—
Land held for future development (1)	272,332				200,498
Buildings and improvements	13,271,691				13,356,751
Tenant improvements	2,486,269				2,396,932
Furniture, fixtures and equipment	44,462				44,351
Construction in progress	812,408				578,796
Total	22,280,316				21,649,896
Less: Accumulated depreciation	(5,050,606		)		(4,897,777		)
	$	17,229,710			$	16,752,119

_______________

(1)

Includes pre-development costs.

Finance Lease, Liability, Maturity [Table Text Block]

The following table provides a maturity analysis for the Company’s lease liabilities related to its operating and finance leases as of June 30, 2019 (in thousands):

	Operating				Finance (1)
July 1, 2019 - December 31, 2019	$	4,872			$	2,494
2020	10,050				121,499
2021	24,953				2,096
2022	18,041				1,632
2023	10,326				1,039
Thereafter	567,232				73,241
Total lease payments	635,474				202,001
Less: interest portion	(436,130		)		(29,099		)
Present value of lease payments	$	199,344			$	172,902

_______________

(1)

Finance lease payments in 2020 and 2024 include approximately $119.8 million and $38.7 million, respectively, related to purchase options that the Company is reasonably certain that it will exercise.

Boston Properties Limited Partnership

Entity Information [Line Items]

Schedule of Real Estate Properties [Table Text Block]

Boston Properties Limited Partnership

Real estate consisted of the following at June 30, 2019 and December 31, 2018 (in thousands):

	June 30, 2019				December 31, 2018
Land	$	4,955,593			$	4,971,475
Right of use assets - finance leases	187,269				—
Right of use assets - operating leases	149,839				—
Land held for future development (1)	272,332				200,498
Buildings and improvements	12,976,345				13,059,488
Tenant improvements	2,486,269				2,396,932
Furniture, fixtures and equipment	44,462				44,351
Construction in progress	812,408				578,796
Total	21,884,517				21,251,540
Less: Accumulated depreciation	(4,949,822		)		(4,800,475		)
	$	16,934,695			$	16,451,065

_______________

(1)

Includes pre-development costs.

Platform 16 [Member]

Entity Information [Line Items]

Finance Lease, Liability, Maturity [Table Text Block]

As of January 24, 2019, the lease payments from the finance lease related to the remaining parcels made available for lease to the Company are as follows (in thousands):

Period from January 24, 2019 through December 31, 2019	$	17,918
2020	109,460
Total expected minimum lease payments	127,378
Interest portion	(4,815		)
Present value of expected net lease payments	$	122,563

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Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980

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Tabular disclosure of lessor's property under leasing agreements and property available for lease (not currently under lease) by property class, the gross amount, accumulated depreciation and net amount of as of the balance sheet date.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 20
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=84164653&loc=d3e41551-112718

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