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Consolidated Statements Of Cash Flows
$ in Thousands
 12 Months Ended
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Net income $ 1,020,584 $ 631,932 $ 1,018,691
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 749,775 717,336 683,751
Amortization of right of use assets - operating leases 2,427 3,516 2,234
Non-cash compensation expense 52,026 50,860 44,142
Loss from unconsolidated joint ventures 59,840 2,570 85,110
Distributions of net cash flow from operations of unconsolidated joint ventures 26,827 21,542 31,892
Losses (gains) from investments in securities 6,453 (5,626) (5,261)
Allowance for current expected credit losses (224) (1,207) 1,849
Non-cash portion of interest expense 25,831 23,368 23,384
Settlement of accreted debt discount on redemption of unsecured senior notes 0 (8,500) 0
Losses from early extinguishment of debt 0 45,182 0
Other Income - assignment fee 6,624 0 0
Gains on sales of real estate (437,019) (123,660) (618,982)
Gain on sales-type lease (10,058) 0 0
Unrealized loss on non-real estate investment 150 0 0
Change in assets and liabilities:      
Tenant and other receivables, net (7,621) 4,820 22,550
Notes receivable, net (152) (545) (19)
Accrued rental income, net (98,075) (101,548) (97,099)
Prepaid expenses and other assets 20,099 (20,811) 12,488
Lease liabilities - finance leases 0 0 568
Lease liabilities - operating leases 125 (23,599) 1,533
Accounts payable and accrued expenses (22,777) 20,025 (4,059)
Accrued interest payable 8,989 (10,839) 16,211
Other liabilities (24,120) (28,739) 17,629
Tenant leasing costs (84,057) (62,850) (79,772)
Total adjustments 261,815 501,295 138,149
Net cash provided by operating activities 1,282,399 1,133,227 1,156,840
Cash flows from investing activities:      
Acquisitions of real estate (1,320,273) (222,260) (137,976)
Construction in progress (500,273) (513,878) (482,507)
Building and other capital improvements (177,004) (150,998) (160,126)
Tenant improvements (218,685) (263,952) (234,423)
Proceeds from sales of real estate 834,770 179,887 519,303
Proceeds from assignment fee 6,624 0 0
Capital contributions to unconsolidated joint ventures (277,581) (98,152) (172,436)
Capital distributions from unconsolidated joint ventures 37,122 122 55,298
Proceeds from sale of investment in unconsolidated joint venture 0 17,789 0
Investments in non-real estate investments (2,404) 0 0
Issuance of notes receivable, net 0 0 (9,800)
Proceeds from note receivable 10,000 10,035 6,397
Investments in securities, net 4,902 1,451 2,551
Net cash used in investing activities (1,602,802) (1,039,956) (613,719)
Cash flows from financing activities:      
Proceeds from Secured Notes Payable 0 1,201,388 0
Repayments of mortgage notes payable 0 (832,296) (17,168)
Proceeds from unsecured senior notes 749,557 1,695,996 1,248,125
Redemption of unsecured senior notes 0 (1,841,500) 0
Borrowings on unsecured line of credit 985,000 770,000 265,000
Repayments of unsecured line of credit (1,130,000) (625,000) (265,000)
Borrowings on unsecured term loan 730,000 0 0
Redemption of preferred stock 0 (200,000) 0
Payments on finance lease obligations 0 1,250 0
Repayment of unsecured term loan 0 (500,000) 0
Deferred financing costs (8,460) (20,757) (10,416)
Debt Issuance Costs 0 (16,186) 0
Debt prepayment and extinguishment costs 0 (43,036) 0
Net activity from equity transactions (352) 24,214 3,277
Dividends and distributions (685,019) (683,753) (688,904)
Contributions from noncontrolling interests in property partnerships 849 18,002 8,219
Distributions to noncontrolling interests in property partnerships (85,518) (259,764) (58,811)
Net cash provided by (used in) financing activities 556,057 (1,311,442) 484,322
Net increase (decrease) in cash and cash equivalents and cash held in escrows 235,654 (1,218,171) 1,027,443
Cash and cash equivalents and cash held in escrows, beginning of period 501,158 1,719,329 691,886
Cash and cash equivalents and cash held in escrows, end of period 736,812 501,158 1,719,329
Reconciliation of cash and cash equivalents and cash held in escrow      
Cash and cash equivalents, beginning of period 452,692 1,668,742 644,950
Cash held in escrows, beginning of period 48,466 50,587 46,936
Cash and cash equivalents, end of period 690,333 452,692 1,668,742
Cash held in escrows,end of period 46,479 48,466 50,587
Supplemental disclosures:      
Cash paid for interest 449,903 465,442 433,492
Interest capitalized 52,130 53,097 53,881
Non-cash investing and financing activities:      
Write-off of fully depreciated real estate (119,534) (239,317) (99,494)
Change in real estate included in accounts payable and accrued expenses 97,586 (25,183) (19,848)
Construction in progress, net deconsolidated (11,316) (299,947) 0
Investment in unconsolidated joint ventures recorded upon deconsolidation 11,316 107,132 347,898
Sales-type lease origination 13,045 0 0
Derecognition of assets in exchange for sales-type lease obligation (2,987) 0 0
Accrued rental income, net deconsolidated 0 0 (4,558)
Tenant leasing costs, net deconsolidated 0 0 (3,462)
Building and other capital improvements, net deconsolidated 0 0 (111,889)
Tenant improvements, net deconsolidated 0 0 (12,331)
Prepaid expenses and other assets, net deconsolidated 0 (5,011) 0
Assumption of mortgage notes payable 0 200,311 0
Mortgage notes payable, net deconsolidation 0 (198,381) 0
Issuance of operating partnership units 0 99,689 0
Right-of-use assets obtained in exchange for lease liabilities 0 26,887 0
Dividends and distributions declared but not paid 170,643 169,859 171,082
Conversions of noncontrolling interests to stockholders’ equity 6,539 18,386 29,698
Issuance of restricted securities to employees and non-employee directors 48,417 44,405 42,607
Boston Properties Limited Partnership      
Net income 1,032,122 641,771 1,038,739
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 742,293 709,035 676,666
Amortization of right of use assets - operating leases 2,427 3,516 2,234
Non-cash compensation expense 52,026 50,860 44,142
Loss from unconsolidated joint ventures 59,840 2,570 85,110
Distributions of net cash flow from operations of unconsolidated joint ventures 26,827 21,542 31,892
Losses (gains) from investments in securities 6,453 (5,626) (5,261)
Allowance for current expected credit losses (224) (1,207) 1,849
Non-cash portion of interest expense 25,831 23,368 23,384
Settlement of accreted debt discount on redemption of unsecured senior notes 0 (8,500) 0
Losses from early extinguishment of debt 0 45,182 0
Other Income - assignment fee 6,624 0 0
Gains on sales of real estate (441,075) (125,198) (631,945)
Gain on sales-type lease (10,058) 0 0
Unrealized loss on non-real estate investment 150 0 0
Change in assets and liabilities:      
Tenant and other receivables, net (7,621) 4,820 22,550
Notes receivable, net (152) (545) (19)
Accrued rental income, net (98,075) (101,548) (97,099)
Prepaid expenses and other assets 20,099 (20,811) 12,488
Lease liabilities - finance leases 0 0 568
Lease liabilities - operating leases 125 (23,599) 1,533
Accounts payable and accrued expenses (22,777) 20,025 (4,059)
Accrued interest payable 8,989 (10,839) 16,211
Other liabilities (24,120) (28,739) 17,629
Tenant leasing costs (84,057) (62,850) (79,772)
Total adjustments 250,277 491,456 118,101
Net cash provided by operating activities 1,282,399 1,133,227 1,156,840
Cash flows from investing activities:      
Acquisitions of real estate (1,320,273) (222,260) (137,976)
Construction in progress (500,273) (513,878) (482,507)
Building and other capital improvements (177,004) (150,998) (160,126)
Tenant improvements (218,685) (263,952) (234,423)
Proceeds from sales of real estate 834,770 179,887 519,303
Proceeds from assignment fee 6,624 0 0
Capital contributions to unconsolidated joint ventures (277,581) (98,152) (172,436)
Capital distributions from unconsolidated joint ventures 37,122 122 55,298
Proceeds from sale of investment in unconsolidated joint venture 0 17,789 0
Investments in non-real estate investments (2,404) 0 0
Issuance of notes receivable, net 0 0 (9,800)
Proceeds from note receivable 10,000 10,035 6,397
Investments in securities, net 4,902 1,451 2,551
Net cash used in investing activities (1,602,802) (1,039,956) (613,719)
Cash flows from financing activities:      
Proceeds from Secured Notes Payable 0 1,201,388 0
Repayments of mortgage notes payable 0 (832,296) (17,168)
Proceeds from unsecured senior notes 749,557 1,695,996 1,248,125
Redemption of unsecured senior notes 0 (1,841,500) 0
Borrowings on unsecured line of credit 985,000 770,000 265,000
Repayments of unsecured line of credit (1,130,000) (625,000) (265,000)
Borrowings on unsecured term loan 730,000 0 0
Redemption of preferred stock 0 (200,000) 0
Payments on finance lease obligations 0 1,250 0
Repayment of unsecured term loan 0 (500,000) 0
Deferred financing costs (8,460) (20,757) (10,416)
Debt Issuance Costs 0 (16,186) 0
Debt prepayment and extinguishment costs 0 (43,036) 0
Net activity from equity transactions (352) 24,214 3,277
Dividends and distributions (685,019) (683,753) (688,904)
Contributions from noncontrolling interests in property partnerships 849 18,002 8,219
Distributions to noncontrolling interests in property partnerships (85,518) (259,764) (58,811)
Net cash provided by (used in) financing activities 556,057 (1,311,442) 484,322
Net increase (decrease) in cash and cash equivalents and cash held in escrows 235,654 (1,218,171) 1,027,443
Cash and cash equivalents and cash held in escrows, beginning of period 501,158 1,719,329 691,886
Cash and cash equivalents and cash held in escrows, end of period 736,812 501,158 1,719,329
Reconciliation of cash and cash equivalents and cash held in escrow      
Cash and cash equivalents, beginning of period 452,692 1,668,742 644,950
Cash held in escrows, beginning of period 48,466 50,587 46,936
Cash and cash equivalents, end of period 690,333 452,692 1,668,742
Cash held in escrows,end of period 46,479 48,466 50,587
Supplemental disclosures:      
Cash paid for interest 449,903 465,442 433,492
Interest capitalized 52,130 53,097 53,881
Non-cash investing and financing activities:      
Write-off of fully depreciated real estate (119,534) (238,003) (99,494)
Change in real estate included in accounts payable and accrued expenses 97,586 (25,183) (19,848)
Construction in progress, net deconsolidated (11,316) (299,947) 0
Investment in unconsolidated joint ventures recorded upon deconsolidation 11,316 107,132 347,898
Sales-type lease origination 13,045 0 0
Derecognition of assets in exchange for sales-type lease obligation (2,987) 0 0
Accrued rental income, net deconsolidated 0 0 (4,558)
Tenant leasing costs, net deconsolidated 0 0 (3,462)
Building and other capital improvements, net deconsolidated 0 0 (111,889)
Tenant improvements, net deconsolidated 0 0 (12,331)
Prepaid expenses and other assets, net deconsolidated 0 (5,011) 0
Assumption of mortgage notes payable 0 200,311 0
Mortgage notes payable, net deconsolidation 0 (198,381) 0
Issuance of operating partnership units 0 99,689 0
Right-of-use assets obtained in exchange for operating lease liabilities 0 26,887 0
Dividends and distributions declared but not paid 170,643 169,859 171,082
Conversions of noncontrolling interests to stockholders’ equity 6,539 18,386 29,698
Issuance of restricted securities to employees and non-employee directors $ 48,417 $ 44,405 $ 42,607