XML 57 R31.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Summary Of Significant Accounting Policies (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Summary Of Significant Accounting Policies [Line Items] |
Property, Plant and Equipment | Depreciation is computed on a straight-line basis over the estimated useful lives of the assets as follows:
Land improvements |  | 25 to 40 years
Buildings and improvements |  | 10 to 40 years
Tenant improvements |  | Shorter of useful life or terms of related lease
Furniture, fixtures, and equipment |  | 3 to 7 years
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | The following table summarizes the scheduled amortization of the Company’s acquired “above-” and “below-market” lease intangibles for each of the five succeeding years (in thousands).
|  | Acquired Above-Market Lease Intangibles |  | Acquired Below-Market Lease Intangibles
2022 |  | $ | 428 |  |  | $ | 7,119 |
2023 |  | 208 |  |  | 5,334 |
2024 |  | 147 |  |  | 3,806 |
2025 |  | 135 |  |  | 3,775 |
2026 |  | 135 |  |  | 2,843 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | Recurring Fair Value of Financial Instruments The Company follows the authoritative guidance for fair value measurements when valuing its financial instruments for disclosure purposes. The table below presents for December 31, 2021 and 2020, the financial instruments that are being valued for disclosure purposes as well as the Level at which they are categorized as defined in ASC 820 “Fair Value Measurements and Disclosures” (“ASC 820”).
Financial Instrument | Level
Unsecured senior notes (1) | Level 1
Related party note receivable | Level 3
Notes receivable | Level 3
Mortgage notes payable | Level 3
Unsecured line of credit | Level 3
Unsecured term loan (2) | Level 3
_______________ (1) If trading volume for the period is low, the valuation could be categorized as Level 2. (2) As of December 31, 2021, the unsecured term loan had been repaid and was no longer outstanding.
Fair Value, by Balance Sheet Grouping [Table Text Block] | The following table presents the aggregate carrying value of the Company’s related party note receivable, net, notes receivable, net, mortgage notes payable, net, unsecured senior notes, net, unsecured line of credit and unsecured term loan, net and the Company’s corresponding estimate of fair value as of December 31, 2021 and December 31, 2020 (in thousands):
| December 31, 2021 |  | December 31, 2020
| Carrying Amount |  | Estimated Fair Value |  | Carrying Amount |  | Estimated Fair Value
Related party note receivable, net | $ | 78,336 |  |  | $ | 82,867 |  |  | $ | 77,552 |  |  | $ | 84,579 |
Note receivable, net | 9,641 |  |  | 10,000 |  |  | 18,729 |  |  | 19,372 |
Total | $ | 87,977 |  |  | $ | 92,867 |  |  | $ | 96,281 |  |  | $ | 103,951 |
Mortgage notes payable, net | $ | 3,267,914 |  |  | $ | 3,395,569 |  |  | $ | 2,909,081 |  |  | $ | 3,144,150 |
Unsecured senior notes, net | 9,483,695 |  |  | 9,966,591 |  |  | 9,639,287 |  |  | 10,620,527 |
Unsecured line of credit | 145,000 |  |  | 145,317 |  |  | — |  |  | — |
Unsecured term loan, net | — |  |  | — |  |  | 499,390 |  |  | 500,326 |
Total | $ | 12,896,609 |  |  | $ | 13,507,477 |  |  | $ | 13,047,758 |  |  | $ | 14,265,003 |
Dividends Declared | 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 during the years ended December 31, 2021, 2020 and 2019:
Record Date |  | Payment Date |  | Dividend (Per Share) |  | Distribution (Per Unit)
December 31, 2021 |  | January 28, 2022 |  | $0.98 |  |  | $0.98 |
September 30, 2021 |  | October 29, 2021 |  | $0.98 |  |  | $0.98 |
June 30, 2021 |  | July 30, 2021 |  | $0.98 |  |  | $0.98 |
March 31, 2021 |  | April 30, 2021 |  | $0.98 |  |  | $0.98 |
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 |
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 |
Dividend Paid [Member] |
Summary Of Significant Accounting Policies [Line Items] |
Dividends Declared | The tax treatment of common dividends per share for federal income tax purposes is as follows:
|  | For the year ended December 31,
|  | 2021 |  | 2020 |  | 2019
|  | Per Share |  | % |  | Per Share |  | % |  | Per Share |  | %
Ordinary income |  | $ | 2.90 |  |  | 73.86 | % |  | $ | 2.52 |  |  | 64.91 | % |  | $ | 2.99 |  |  | 94.84 | %
Capital gain income |  | 0.57 |  |  | 14.57 | % |  | 0.99 |  |  | 25.49 | % |  | 0.16 |  |  | 5.16 | %
Return of capital |  | 0.45 |  |  | 11.57 | % |  | 0.37 |  |  | 9.60 | % |  | — |  |  | — | %
Total |  | $ | 3.92 |  | (1) | 100.00 | % |  | $ | 3.88 |  | (2) | 100.00 | % |  | $ | 3.15 |  | (3) | 100.00 | %
_____________ (1)The fourth quarter 2021 regular quarterly dividend was $0.98 per common share, all of which was allocable to 2022. (2)The fourth quarter 2020 regular quarterly dividend was $0.98 per common share, all of which was allocable to 2021. (3)The fourth quarter 2019 regular quarterly dividend was $0.98 per common share of which approximately $0.04 per common share was allocable to 2019 and approximately $0.94 per common share was allocable to 2020.

X
- Definition Summary Of Significant Accounting Policies [Line Items] + References No definition available. + Details
Name: | bxp_SummaryOfSignificantAccountingPoliciesLineItems
Namespace Prefix: | bxp_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information related to dividends declared, including paid and unpaid dividends. + References No definition available. + Details
Name: | us-gaap_DividendsDeclaredTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(13)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 + Details
Name: | us-gaap_PropertyPlantAndEquipmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_DividendsAxis=us-gaap_DividendPaidMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |