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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
ASSETS    
Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $6,581,689 and $6,497,031 at June 30, 2020 and December 31, 2019, respectively) $ 22,575,903 $ 22,502,976
Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at June 30, 2020 and December 31, 2019, respectively) 237,394 237,394
Right of use assets - operating leases 147,512 148,640
Less: accumulated depreciation (amounts related to VIEs of $(1,112,769) and $(1,058,495) at June 30, 2020 and December 31, 2019, respectively) (5,292,389) (5,266,798)
Total real estate 17,668,420 17,622,212
Cash and cash equivalents (amounts related to VIEs of $300,552 and $280,033 at June 30, 2020 and December 31, 2019, respectively) 1,691,047 644,950
Cash held in escrows 300,608 46,936
Investments in securities 32,848 36,747
Tenant and other receivables, net (amounts related to VIEs of $11,989 and $28,918 at June 30, 2020 and December 31, 2019, respectively) 82,545 112,807
Related party note receivable, net 78,520 80,000
Notes receivable, net 25,480 15,920
Accrued rental income, net (amounts related to VIEs of $304,929 and $298,318 at June 30, 2020 and December 31, 2019, respectively) 1,069,004 1,038,788
Deferred charges, net (amounts related to VIEs of $190,708 and $214,769 at June 30, 2020 and December 31, 2019, respectively) 655,813 689,213
Prepaid expenses and other assets (amounts related to VIEs of $18,741 and $20,931 at June 30, 2020 and December 31, 2019, respectively) 56,768 41,685
Investments in unconsolidated joint ventures 1,339,724 955,647
Total assets 23,000,777 21,284,905
Liabilities:    
Mortgage notes payable, net (amounts related to VIEs of $2,913,287 and $2,918,806 at June 30, 2020 and December 31, 2019, respectively) 2,915,852 2,922,408
Unsecured senior notes, net 9,633,577 8,390,459
Unsecured line of credit 0 0
Unsecured term loan, net 499,150 498,939
Lease liabilities - finance leases (amounts related to VIEs of $20,227 and $20,189 at June 30, 2020 and December 31, 2019, respectively) 230,146 224,042
Lease liabilities - operating leases 200,979 200,180
Accounts payable and accrued expenses (amounts related to VIEs of $25,685 and $45,777 at June 30, 2020 and December 31, 2019, respectively) 328,292 377,553
Dividends and distributions payable 171,077 170,713
Accrued interest payable 95,274 90,016
Other liabilities (amounts related to VIEs of $132,460 and $140,110 at June 30, 2020 and December 31, 2019, respectively) 373,281 387,994
Total liabilities 14,447,628 13,262,304
Commitments and contingencies 0 0
Redeemable deferred stock units— 66,424 and 60,676 units outstanding at redemption value at June 30, 2020 and December 31, 2019, respectively 6,003 8,365
Equity / Capital:    
Excess stock, $0.01 par value, 150,000,000 shares authorized, none issued or outstanding 0 0
Preferred stock, $0.01 par value, 50,000,000 shares authorized;    
5.25% Series B cumulative redeemable preferred stock / units, liquidation preference $2,500 per share / unit, 80,000 shares / units issued and outstanding at June 30, 2020 and December 31, 2019, respectively 200,000 200,000
Common stock, $0.01 par value, 250,000,000 shares authorized, 155,701,186 and 154,869,198 issued and 155,622,286 and 154,790,298 outstanding at June 30, 2020 and December 31, 2019, respectively 1,556 1,548
Additional paid-in capital 6,340,665 6,294,719
Dividends in excess of earnings (302,511) (760,523)
Treasury common stock at cost, 78,900 shares at June 30, 2020 and December 31, 2019 (2,722) (2,722)
Accumulated other comprehensive loss (54,921) (48,335)
Total stockholders' equity attributable to Boston Properties, Inc. 6,182,067 5,684,687
Noncontrolling interests:    
Common units of the Operating Partnership 640,491 600,860
Property partnerships 1,724,588 1,728,689
Total equity / capital 8,547,146 8,014,236
Total liabilities and equity / capital $ 23,000,777 $ 21,284,905
Excess stock, par value $ 0.01 $ 0.01
Excess stock, shares authorized 150,000,000 150,000,000
Excess stock, shares issued 0 0
Excess stock, shares outstanding 0 0
Preferred stock, par value $ 0.01 $ 0.01
Preferred stock, shares authorized 50,000,000 50,000,000
Common Stock, Par or Stated Value Per Share $ 0.01 $ 0.01
Common stock, shares authorized 250,000,000 250,000,000
Treasury common stock at cost, shares 78,900 78,900
Common stock, shares issued 155,701,186 154,869,198
Common Stock, Shares, Outstanding 155,622,286 154,790,298
General Partners' Capital Account, Units Outstanding (in units) 1,730,919  
Limited Partners' Capital Account, Units Outstanding (in units) 153,891,367  
Reddemable deferred stock units, units 66,424 60,676
Variable Interest Entity, Primary Beneficiary [Member]    
ASSETS    
Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $6,581,689 and $6,497,031 at June 30, 2020 and December 31, 2019, respectively) $ 6,581,689 $ 6,497,031
Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at June 30, 2020 and December 31, 2019, respectively) 21,000 21,000
Less: accumulated depreciation (amounts related to VIEs of $(1,112,769) and $(1,058,495) at June 30, 2020 and December 31, 2019, respectively) (1,112,769) (1,058,495)
Cash and cash equivalents (amounts related to VIEs of $300,552 and $280,033 at June 30, 2020 and December 31, 2019, respectively) 300,552 280,033
Tenant and other receivables, net (amounts related to VIEs of $11,989 and $28,918 at June 30, 2020 and December 31, 2019, respectively) 11,989 28,918
Accrued rental income, net (amounts related to VIEs of $304,929 and $298,318 at June 30, 2020 and December 31, 2019, respectively) 304,929 298,318
Deferred charges, net (amounts related to VIEs of $190,708 and $214,769 at June 30, 2020 and December 31, 2019, respectively) 190,708 214,769
Prepaid expenses and other assets (amounts related to VIEs of $18,741 and $20,931 at June 30, 2020 and December 31, 2019, respectively) 18,741 20,931
Liabilities:    
Mortgage notes payable, net (amounts related to VIEs of $2,913,287 and $2,918,806 at June 30, 2020 and December 31, 2019, respectively) 2,913,287 2,918,806
Lease liabilities - finance leases (amounts related to VIEs of $20,227 and $20,189 at June 30, 2020 and December 31, 2019, respectively) 20,227 20,189
Accounts payable and accrued expenses (amounts related to VIEs of $25,685 and $45,777 at June 30, 2020 and December 31, 2019, respectively) 25,685 45,777
Other liabilities (amounts related to VIEs of $132,460 and $140,110 at June 30, 2020 and December 31, 2019, respectively) $ 132,460 $ 140,110
Series B Cumulative Redeemable Preferred Stock / Unit [Member]    
Noncontrolling interests:    
Preferred stock / units, shares / units outstanding (in shares / units) 80,000 80,000
Preferred stock / units, shares / units issued (in shares / units) 80,000 80,000
Series B Dividend Rate Percentage 5.25% 5.25%
Series B Liquidation Preference Per Share/ Unit $ 2,500.00 $ 2,500
Preferred stock, par value $ 0.01 $ 0.01
Preferred stock, shares authorized 92,000 92,000
Boston Properties Limited Partnership    
ASSETS    
Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $6,581,689 and $6,497,031 at June 30, 2020 and December 31, 2019, respectively) $ 22,199,094 $ 22,107,755
Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at June 30, 2020 and December 31, 2019, respectively) 237,394 237,394
Right of use assets - operating leases 147,512 148,640
Less: accumulated depreciation (amounts related to VIEs of $(1,112,769) and $(1,058,495) at June 30, 2020 and December 31, 2019, respectively) (5,190,360) (5,162,908)
Total real estate 17,393,640 17,330,881
Cash and cash equivalents (amounts related to VIEs of $300,552 and $280,033 at June 30, 2020 and December 31, 2019, respectively) 1,691,047 644,950
Cash held in escrows 300,608 46,936
Investments in securities 32,848 36,747
Tenant and other receivables, net (amounts related to VIEs of $11,989 and $28,918 at June 30, 2020 and December 31, 2019, respectively) 82,545 112,807
Related party note receivable, net 78,520 80,000
Notes receivable, net 25,480 15,920
Accrued rental income, net (amounts related to VIEs of $304,929 and $298,318 at June 30, 2020 and December 31, 2019, respectively) 1,069,004 1,038,788
Deferred charges, net (amounts related to VIEs of $190,708 and $214,769 at June 30, 2020 and December 31, 2019, respectively) 655,813 689,213
Prepaid expenses and other assets (amounts related to VIEs of $18,741 and $20,931 at June 30, 2020 and December 31, 2019, respectively) 56,768 41,685
Investments in unconsolidated joint ventures 1,339,724 955,647
Total assets 22,725,997 20,993,574
Liabilities:    
Mortgage notes payable, net (amounts related to VIEs of $2,913,287 and $2,918,806 at June 30, 2020 and December 31, 2019, respectively) 2,915,852 2,922,408
Unsecured senior notes, net 9,633,577 8,390,459
Unsecured line of credit 0 0
Unsecured term loan, net 499,150 498,939
Lease liabilities - finance leases (amounts related to VIEs of $20,227 and $20,189 at June 30, 2020 and December 31, 2019, respectively) 230,146 224,042
Lease liabilities - operating leases 200,979 200,180
Accounts payable and accrued expenses (amounts related to VIEs of $25,685 and $45,777 at June 30, 2020 and December 31, 2019, respectively) 328,292 377,553
Dividends and distributions payable 171,077 170,713
Accrued interest payable 95,274 90,016
Other liabilities (amounts related to VIEs of $132,460 and $140,110 at June 30, 2020 and December 31, 2019, respectively) 373,281 387,994
Total liabilities 14,447,628 13,262,304
Commitments and contingencies 0 0
Redeemable deferred stock units— 66,424 and 60,676 units outstanding at redemption value at June 30, 2020 and December 31, 2019, respectively 6,003 8,365
Redeemable partnership units— 16,123,912 and 16,764,466 common units and 1,345,723 and 1,143,215 long term incentive units outstanding at redemption value at June 30, 2020 and December 31, 2019, respectively 1,581,010 2,468,753
Preferred stock, $0.01 par value, 50,000,000 shares authorized;    
5.25% Series B cumulative redeemable preferred stock / units, liquidation preference $2,500 per share / unit, 80,000 shares / units issued and outstanding at June 30, 2020 and December 31, 2019, respectively 193,623 193,623
Boston Properties Limited Partnership partners’ capital— 1,730,919 and 1,726,980 general partner units and 153,891,367 and 153,063,318 limited partner units outstanding at June 30, 2020 and December 31, 2019, respectively 4,828,066 3,380,175
Accumulated other comprehensive loss (54,921) (48,335)
Total partners’ capital 4,966,768 3,525,463
Noncontrolling interests in property partnerships 1,724,588 1,728,689
Noncontrolling interests:    
Total equity / capital 6,691,356 5,254,152
Total liabilities and equity / capital $ 22,725,997 $ 20,993,574
General Partners' Capital Account, Units Outstanding (in units) 1,730,919 1,726,980
Limited Partners' Capital Account, Units Outstanding (in units) 153,891,367 153,063,318
Reddemable deferred stock units, units 66,424 60,676
NonControlling Interest Redeemable Partnership Units Common Units Shares Outstanding 16,123,912 16,764,466
NonControlling Interest Redeemable Partnership Units Common Units Long Term Incentive Units At Redemption Value Shares Outstanding 1,345,723 1,143,215
Boston Properties Limited Partnership | Variable Interest Entity, Primary Beneficiary [Member]    
ASSETS    
Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $6,581,689 and $6,497,031 at June 30, 2020 and December 31, 2019, respectively) $ 6,581,689 $ 6,497,031
Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at June 30, 2020 and December 31, 2019, respectively) 21,000 21,000
Less: accumulated depreciation (amounts related to VIEs of $(1,112,769) and $(1,058,495) at June 30, 2020 and December 31, 2019, respectively) (1,112,769) (1,058,495)
Cash and cash equivalents (amounts related to VIEs of $300,552 and $280,033 at June 30, 2020 and December 31, 2019, respectively) 300,552 280,033
Tenant and other receivables, net (amounts related to VIEs of $11,989 and $28,918 at June 30, 2020 and December 31, 2019, respectively) 11,989 28,918
Accrued rental income, net (amounts related to VIEs of $304,929 and $298,318 at June 30, 2020 and December 31, 2019, respectively) 304,929 298,318
Deferred charges, net (amounts related to VIEs of $190,708 and $214,769 at June 30, 2020 and December 31, 2019, respectively) 190,708 214,769
Prepaid expenses and other assets (amounts related to VIEs of $18,741 and $20,931 at June 30, 2020 and December 31, 2019, respectively) 18,741 20,931
Liabilities:    
Mortgage notes payable, net (amounts related to VIEs of $2,913,287 and $2,918,806 at June 30, 2020 and December 31, 2019, respectively) 2,913,287 2,918,806
Lease liabilities - finance leases (amounts related to VIEs of $20,227 and $20,189 at June 30, 2020 and December 31, 2019, respectively) 20,227 20,189
Accounts payable and accrued expenses (amounts related to VIEs of $25,685 and $45,777 at June 30, 2020 and December 31, 2019, respectively) 25,685 45,777
Other liabilities (amounts related to VIEs of $132,460 and $140,110 at June 30, 2020 and December 31, 2019, respectively) $ 132,460 $ 140,110
Boston Properties Limited Partnership | Series B Cumulative Redeemable Preferred Stock / Unit [Member]    
Noncontrolling interests:    
Preferred stock / units, shares / units outstanding (in shares / units) 80,000 80,000
Preferred stock / units, shares / units issued (in shares / units) 80,000 80,000
Series B Dividend Rate Percentage 5.25% 5.25%
Series B Liquidation Preference Per Share/ Unit $ 2,500 $ 2,500