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Stockholders' Equity / Partners' Capital | 12 Months Ended
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Dec. 31, 2020
Equity [Abstract] |
Stockholders' Equity / Partners' Capital | 12. Stockholders’ Equity / Partners’ Capital Boston Properties, Inc. As of December 31, 2020, Boston Properties, Inc. had 155,718,825 shares of Common Stock outstanding. As of December 31, 2020, Boston Properties, Inc. owned 1,730,921 general partnership units and 153,987,904 limited partnership units in Boston Properties Limited Partnership. On May 22, 2020, Boston Properties, Inc. renewed its “at the market” (“ATM”) stock offering program through which it may sell from time to time up to an aggregate of $600.0 million of its Common Stock through sales agents over a three-year period. Under the ATM stock offering program, Boston Properties, Inc. may also engage in forward sale transactions with affiliates of certain sales agents for the sale of its Common Stock on a forward basis. This program replaced Boston Properties, Inc.’s prior $600.0 million ATM stock offering program that was scheduled to expire on June 2, 2020. Boston Properties, Inc. intends to use the net proceeds from any offering for general business purposes, which may include investment opportunities and debt reduction. No shares of Common Stock have been issued under this ATM stock offering program. During the years ended December 31, 2020 and 2019, Boston Properties, Inc. issued 43,792 and 145,088 shares of Common Stock, respectively, upon the exercise of options to purchase Common Stock. During the years ended December 31, 2020 and 2019, Boston Properties, Inc. issued 856,811 and 144,481 shares of Common Stock, respectively, in connection with the redemption of an equal number of redeemable OP Units from limited partners. The following table presents Boston Properties, Inc.’s dividends per share and Boston Properties Limited Partnership’s distributions per OP Unit and LTIP Unit paid or declared in 2020 and during the year ended December 31, 2019:
Record Date |  | Payment Date |  | Dividend (Per Share) |  | Distribution (Per Unit)
December 31, 2020 |  | January 28, 2021 |  | $0.98 |  |  | $0.98 |
September 30, 2020 |  | October 30, 2020 |  | $0.98 |  |  | $0.98 |
June 30, 2020 |  | July 31, 2020 |  | $0.98 |  |  | $0.98 |
March 31, 2020 |  | April 30, 2020 |  | $0.98 |  |  | $0.98 |
December 31, 2019 |  | January 30, 2020 |  | $0.98 |  |  | $0.98 |
December 31, 2019 |  | January 30, 2020 |  | $0.98 |  |  | $0.98 |
September 30, 2019 |  | October 31, 2019 |  | $0.95 |  |  | $0.95 |
June 28, 2019 |  | July 31, 2019 |  | $0.95 |  |  | $0.95 |
March 29, 2019 |  | April 30, 2019 |  | $0.95 |  |  | $0.95 |
December 31, 2018 |  | January 30, 2019 |  | $0.95 |  |  | $0.95 |
Preferred Stock As of December 31, 2020, Boston Properties, Inc. had 80,000 shares (8,000,000 depositary shares each representing 1/100th of a share) outstanding of its 5.25% Series B Cumulative Redeemable Preferred Stock with a liquidation preference of $2,500.00 per share ($25.00 per depositary share). Boston Properties, Inc. pays cumulative cash dividends on the Series B Preferred Stock at a rate of 5.25% per annum of the $2,500.00 liquidation preference per share. Boston Properties, Inc. did not have the right to redeem the Series B Preferred Stock prior to March 27, 2018, except in certain circumstances relating to the preservation of Boston Properties, Inc.’s REIT status. On and after March 27, 2018, Boston Properties, Inc., at its option, may redeem the Series B Preferred Stock for a cash redemption price of $2,500.00 per share ($25.00 per depositary share), plus all accrued and unpaid dividends. The Series B Preferred Stock is not redeemable by the holders, has no maturity date and is not convertible into any other security of Boston Properties, Inc. or its affiliates. The following table presents Boston Properties, Inc.’s dividends per share on its outstanding Series B Preferred Stock paid or declared during 2020 and during the year ended December 31, 2019:
Record Date |  | Payment Date |  | Dividend (Per Share)
February 5, 2021 |  | February 16, 2021 |  | $32.8125 |
November 4, 2020 |  | November 16, 2020 |  | $32.8125 |
August 3, 2020 |  | August 17, 2020 |  | $32.8125 |
May 1, 2020 |  | May 15, 2020 |  | $32.8125 |
February 4, 2020 |  | February 18, 2020 |  | $32.8125 |
February 4, 2020 |  | February 18, 2020 |  | $32.8125 |
November 1, 2019 |  | November 15, 2019 |  | $32.8125 |
August 2, 2019 |  | August 15, 2019 |  | $32.8125 |
May 3, 2019 |  | May 15, 2019 |  | $32.8125 |
February 4, 2019 |  | February 15, 2019 |  | $32.8125 |

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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