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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
ASSETS    
Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $6,736,095 and $6,702,830 at June 30, 2022 and December 31, 2021, respectively) $ 24,700,571 $ 23,752,630
Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at June 30, 2022 and December 31, 2021, respectively) 237,488 237,507
Right of use assets - operating leases 168,370 169,778
Less: accumulated depreciation (amounts related to VIEs of $(1,328,099) and $(1,283,060) at June 30, 2022 and December 31, 2021, respectively) (6,077,270) (5,883,961)
Real estate and development in process, net 19,029,159 18,275,954
Cash and cash equivalents (amounts related to VIEs of $297,608 and $300,937 at June 30, 2022 and December 31, 2021, respectively) 456,491 452,692
Cash held in escrows 46,359 48,466
Investments in securities 31,457 43,632
Tenant and other receivables, net (amounts related to VIEs of $11,008 and $6,824 at June 30, 2022 and December 31, 2021, respectively) 64,607 70,186
Related party note receivable, net 78,576 78,336
Notes receivable, net 0 9,641
Accrued rental income, net (amounts related to VIEs of $357,000 and $357,395 at June 30, 2022 and December 31, 2021, respectively) 1,265,480 1,226,745
Deferred charges, net (amounts related to VIEs of $178,001 and $174,637 at June 30, 2022 and December 31, 2021, respectively) 684,078 618,798
Prepaid expenses and other assets (amounts related to VIEs of $8,866 and $29,668 at June 30, 2022 and December 31, 2021, respectively) 55,232 57,811
Investments in unconsolidated joint ventures 1,554,994 1,482,997
Total assets 23,266,433 22,365,258
Liabilities:    
Mortgage notes payable, net (amounts related to VIEs of $3,269,948 and $3,267,914 at June 30, 2022 and December 31, 2021, respectively) 3,269,948 3,267,914
Unsecured senior notes, net 9,489,030 9,483,695
Unsecured line of credit 165,000 145,000
Unsecured term loan 728,795 0
Lease liabilities - finance leases (amounts related to VIEs of $20,532 and $20,458 at June 30, 2022 and December 31, 2021, respectively) 246,832 244,421
Lease liabilities - operating leases 204,643 204,561
Accounts payable and accrued expenses (amounts related to VIEs of $41,409 and $29,464 at June 30, 2022 and December 31, 2021, respectively) 342,467 320,775
Dividends and distributions payable 170,937 169,859
Accrued interest payable 96,821 94,796
Other liabilities (amounts related to VIEs of $113,103 and $150,131 at June 30, 2022 and December 31, 2021, respectively) 401,360 391,441
Total liabilities 15,115,833 14,322,462
Redeemable deferred stock units— 89,132 and 83,073 units outstanding at redemption value at June 30, 2022 and December 31, 2021, respectively 7,931 9,568
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, none issued or outstanding 0 0
Common stock, $0.01 par value, 250,000,000 shares authorized, 156,805,330 and 156,623,749 issued and 156,726,430 and 156,544,849 outstanding at June 30, 2022 and December 31, 2021, respectively 1,567 1,565
Additional paid-in capital 6,524,997 6,497,730
Dividends in excess of earnings (567,016) (625,891)
Treasury common stock at cost, 78,900 shares at June 30, 2022 and December 31, 2021 (2,722) (2,722)
Accumulated other comprehensive loss (27,077) (36,662)
Total stockholders' equity attributable to Boston Properties, Inc. 5,929,749 5,834,020
Noncontrolling interests:    
Common units of the Operating Partnership 660,214 642,655
Property partnerships 1,552,706 1,556,553
Total equity / capital 8,142,669 8,033,228
Total liabilities and equity / capital 23,266,433 22,365,258
Boston Properties Limited Partnership    
ASSETS    
Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $6,736,095 and $6,702,830 at June 30, 2022 and December 31, 2021, respectively) 24,333,045 23,379,243
Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at June 30, 2022 and December 31, 2021, respectively) 237,488 237,507
Right of use assets - operating leases 168,370 169,778
Less: accumulated depreciation (amounts related to VIEs of $(1,328,099) and $(1,283,060) at June 30, 2022 and December 31, 2021, respectively) (5,963,676) (5,772,018)
Real estate and development in process, net 18,775,227 18,014,510
Cash and cash equivalents (amounts related to VIEs of $297,608 and $300,937 at June 30, 2022 and December 31, 2021, respectively) 456,491 452,692
Cash held in escrows 46,359 48,466
Investments in securities 31,457 43,632
Tenant and other receivables, net (amounts related to VIEs of $11,008 and $6,824 at June 30, 2022 and December 31, 2021, respectively) 64,607 70,186
Related party note receivable, net 78,576 78,336
Notes receivable, net 0 9,641
Accrued rental income, net (amounts related to VIEs of $357,000 and $357,395 at June 30, 2022 and December 31, 2021, respectively) 1,265,480 1,226,745
Deferred charges, net (amounts related to VIEs of $178,001 and $174,637 at June 30, 2022 and December 31, 2021, respectively) 684,078 618,798
Prepaid expenses and other assets (amounts related to VIEs of $8,866 and $29,668 at June 30, 2022 and December 31, 2021, respectively) 55,232 57,811
Investments in unconsolidated joint ventures 1,554,994 1,482,997
Total assets 23,012,501 22,103,814
Liabilities:    
Mortgage notes payable, net (amounts related to VIEs of $3,269,948 and $3,267,914 at June 30, 2022 and December 31, 2021, respectively) 3,269,948 3,267,914
Unsecured senior notes, net 9,489,030 9,483,695
Unsecured line of credit 165,000 145,000
Unsecured term loan 728,795 0
Lease liabilities - finance leases (amounts related to VIEs of $20,532 and $20,458 at June 30, 2022 and December 31, 2021, respectively) 246,832 244,421
Lease liabilities - operating leases 204,643 204,561
Accounts payable and accrued expenses (amounts related to VIEs of $41,409 and $29,464 at June 30, 2022 and December 31, 2021, respectively) 342,467 320,775
Dividends and distributions payable 170,937 169,859
Accrued interest payable 96,821 94,796
Other liabilities (amounts related to VIEs of $113,103 and $150,131 at June 30, 2022 and December 31, 2021, respectively) 401,360 391,441
Total liabilities 15,115,833 14,322,462
Redeemable deferred stock units— 89,132 and 83,073 units outstanding at redemption value at June 30, 2022 and December 31, 2021, respectively 7,931 9,568
Noncontrolling interest:    
Redeemable partnership units— 16,539,178 and 16,561,186 common units and 1,685,357 and 1,485,376 long term incentive units outstanding at redemption value at June 30, 2022 and December 31, 2021, respectively 1,646,678 2,078,603
Equity / Capital:    
Boston Properties Limited Partnership partners’ capital— 1,749,510 and 1,745,914 general partner units and 154,976,920 and 154,798,935 limited partner units outstanding at June 30, 2022 and December 31, 2021, respectively 4,716,430 4,173,290
Accumulated other comprehensive loss (27,077) (36,662)
Total partners’ capital 4,689,353 4,136,628
Noncontrolling interests in property partnerships 1,552,706 1,556,553
Noncontrolling interests:    
Total equity / capital 6,242,059 5,693,181
Total liabilities and equity / capital $ 23,012,501 $ 22,103,814