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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
ASSETS    
Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $6,688,647 and $6,592,019 at September 30, 2021 and December 31, 2020, respectively) $ 23,711,400 $ 22,969,110
Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at September 30, 2021 and December 31, 2020, respectively) 237,845 237,393
Right of use assets - operating leases 170,085 [1] 146,406
Less: accumulated depreciation (amounts related to VIEs of $(1,266,516) and $(1,158,548) at September 30, 2021 and December 31, 2020, respectively) (5,850,397) (5,534,102)
Real estate and development in process, net 18,268,933 17,818,807
Cash and cash equivalents (amounts related to VIEs of $288,186 and $340,642 at September 30, 2021 and December 31, 2020, respectively) 1,002,728 1,668,742
Cash held in escrows 79,193 50,587
Investments in securities 41,517 39,457
Tenant and other receivables, net (amounts related to VIEs of $8,598 and $10,911 at September 30, 2021 and December 31, 2020, respectively) 61,269 77,411
Related party note receivable, net 78,144 77,552
Notes receivable, net 19,297 18,729
Accrued rental income, net (amounts related to VIEs of $352,291 and $336,594 at September 30, 2021 and December 31, 2020, respectively) 1,203,840 1,122,502
Deferred charges, net (amounts related to VIEs of $174,172 and $183,306 at September 30, 2021 and December 31, 2020, respectively) 622,807 640,085
Prepaid expenses and other assets (amounts related to VIEs of $42,051 and $13,137 at September 30, 2021 and December 31, 2020, respectively) 97,560 33,840
Investments in unconsolidated joint ventures 1,373,522 1,310,478
Total assets 22,848,810 22,858,190
Liabilities:    
Mortgage notes payable, net (amounts related to VIEs of $2,898,699 and $2,907,590 at September 30, 2021 and December 31, 2020, respectively) 2,898,699 2,909,081
Unsecured senior notes, net 10,479,651 9,639,287
Unsecured line of credit 0 0
Unsecured term loan, net 0 499,390
Lease liabilities - finance leases (amounts related to VIEs of $20,420 and $20,306 at September 30, 2021 and December 31, 2020, respectively) 243,562 236,492
Lease liabilities - operating leases 204,137 201,713
Accounts payable and accrued expenses (amounts related to VIEs of $36,967 and $23,128 at September 30, 2021 and December 31, 2020, respectively) 331,687 336,264
Dividends and distributions payable 169,739 171,082
Accrued interest payable 87,408 106,288
Other liabilities (amounts related to VIEs of $124,615 and $158,805 at September 30, 2021 and December 31, 2020, respectively) 370,403 412,084
Total liabilities 14,785,286 14,511,681
Redeemable deferred stock units— 80,989 and 72,966 units outstanding at redemption value at September 30, 2021 and December 31, 2020, respectively 8,775 6,897
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 December 31, 2020 0 200,000
Common stock, $0.01 par value, 250,000,000 shares authorized, 156,285,391 and 155,797,725 issued and 156,206,491 and 155,718,825 outstanding at September 30, 2021 and December 31, 2020, respectively 1,562 1,557
Additional paid-in capital 6,415,802 6,356,791
Dividends in excess of earnings (657,021) (509,653)
Treasury common stock at cost, 78,900 shares at September 30, 2021 and December 31, 2020 (2,722) (2,722)
Accumulated other comprehensive loss (40,803) (49,890)
Total stockholders' equity attributable to Boston Properties, Inc. 5,716,818 5,996,083
Noncontrolling interests:    
Common units of the Operating Partnership 609,830 616,596
Property partnerships 1,728,101 1,726,933
Total equity / capital 8,054,749 8,339,612
Total liabilities and equity / capital 22,848,810 22,858,190
Boston Properties Limited Partnership    
ASSETS    
Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $6,688,647 and $6,592,019 at September 30, 2021 and December 31, 2020, respectively) 23,335,905 22,592,301
Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at September 30, 2021 and December 31, 2020, respectively) 237,845 237,393
Right of use assets - operating leases 170,085 [1] 146,406
Less: accumulated depreciation (amounts related to VIEs of $(1,266,516) and $(1,158,548) at September 30, 2021 and December 31, 2020, respectively) (5,739,625) (5,428,576)
Real estate and development in process, net 18,004,210 17,547,524
Cash and cash equivalents (amounts related to VIEs of $288,186 and $340,642 at September 30, 2021 and December 31, 2020, respectively) 1,002,728 1,668,742
Cash held in escrows 79,193 50,587
Investments in securities 41,517 39,457
Tenant and other receivables, net (amounts related to VIEs of $8,598 and $10,911 at September 30, 2021 and December 31, 2020, respectively) 61,269 77,411
Related party note receivable, net 78,144 77,552
Notes receivable, net 19,297 18,729
Accrued rental income, net (amounts related to VIEs of $352,291 and $336,594 at September 30, 2021 and December 31, 2020, respectively) 1,203,840 1,122,502
Deferred charges, net (amounts related to VIEs of $174,172 and $183,306 at September 30, 2021 and December 31, 2020, respectively) 622,807 640,085
Prepaid expenses and other assets (amounts related to VIEs of $42,051 and $13,137 at September 30, 2021 and December 31, 2020, respectively) 97,560 33,840
Investments in unconsolidated joint ventures 1,373,522 1,310,478
Total assets 22,584,087 22,586,907
Liabilities:    
Mortgage notes payable, net (amounts related to VIEs of $2,898,699 and $2,907,590 at September 30, 2021 and December 31, 2020, respectively) 2,898,699 2,909,081
Unsecured senior notes, net 10,479,651 9,639,287
Unsecured line of credit 0 0
Unsecured term loan, net 0 499,390
Lease liabilities - finance leases (amounts related to VIEs of $20,420 and $20,306 at September 30, 2021 and December 31, 2020, respectively) 243,562 236,492
Lease liabilities - operating leases 204,137 201,713
Accounts payable and accrued expenses (amounts related to VIEs of $36,967 and $23,128 at September 30, 2021 and December 31, 2020, respectively) 331,687 336,264
Dividends and distributions payable 169,739 171,082
Accrued interest payable 87,408 106,288
Other liabilities (amounts related to VIEs of $124,615 and $158,805 at September 30, 2021 and December 31, 2020, respectively) 370,403 412,084
Total liabilities 14,785,286 14,511,681
Redeemable deferred stock units— 80,989 and 72,966 units outstanding at redemption value at September 30, 2021 and December 31, 2020, respectively 8,775 6,897
Redeemable partnership units— 15,989,304 and 16,037,121 common units and 1,487,492 and 1,336,115 long term incentive units outstanding at redemption value at September 30, 2021 and December 31, 2020, respectively 1,893,611 1,643,024
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 December 31, 2020 0 193,623
Boston Properties Limited Partnership partners’ capital— 1,736,833 and 1,730,921 general partner units and 154,469,658 and 153,987,904 limited partner units outstanding at September 30, 2021 and December 31, 2020, respectively 4,209,117 4,554,639
Accumulated other comprehensive loss (40,803) (49,890)
Total partners’ capital 4,168,314 4,698,372
Noncontrolling interests in property partnerships 1,728,101 1,726,933
Noncontrolling interests:    
Total equity / capital 5,896,415 6,425,305
Total liabilities and equity / capital $ 22,584,087 $ 22,586,907
[1] See Note 4.