XML 27 R4.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $7,797,430 and $7,054,075 at December 31, 2024 and December 31, 2023, respectively) $ 27,870,623 $ 26,749,209
Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at December 31, 2024 and December 31, 2023, respectively) 372,922 401,680
Right of use assets - operating leases (amounts related to VIEs of $140,558 and $158,885 at December 31, 2024 and December 31, 2023, respectively) [1] 334,767 324,298
Less: accumulated depreciation (amounts related to VIEs of $(1,628,274) and $(1,501,483) at December 31, 2024 and December 31, 2023, respectively) (7,528,057) (6,881,728)
Cash and cash equivalents (amounts related to VIEs of $373,737 and $245,317 at December 31, 2024 and December 31, 2023, respectively) 1,254,882 1,531,477
Cash held in escrows (amounts related to VIEs of $4,979 and $22,160 at December 31, 2024 and December 31, 2023, respectively) 80,314 81,090
Tenant and other receivables, net (amounts related to VIEs of $20,435 and $27,987 at December 31, 2024 and December 31, 2023, respectively) 107,453 122,407
Accrued rental income, net (amounts related to VIEs of $435,110 and $401,159 at December 31, 2024 and December 31, 2023, respectively) 1,466,220 1,355,212
Deferred charges, net (amounts related to VIEs of $211,726 and $175,383 at December 31, 2024 and December 31, 2023, respectively) 813,345 760,421
Prepaid expenses and other assets (amounts related to VIEs of $15,036 and $11,824 at December 31, 2024 and December 31, 2023, respectively) 70,839 64,230
Mortgage notes payable, net (amounts related to VIEs of $3,282,027 and $3,277,185 at December 31, 2024 and December 31, 2023, respectively) 4,276,609 4,166,379
Lease liabilities - finance leases (amounts related to VIEs of $20,931 and $20,794 at December 31, 2024 and December 31, 2023, respectively) 370,885 417,961
Lease liabilities - operating leases (amounts related to VIEs of $157,691 and $145,826 at December 31, 2024 and December 31, 2023, respectively) 392,686 350,391
Accounts payable and accrued expenses (amounts related to VIEs of $115,808 and $59,667 at December 31, 2024 and December 31, 2023, respectively) 401,874 458,329
Other liabilities (amounts related to VIEs of $126,202 and $115,275 at December 31, 2024 and December 31, 2023, respectively) $ 450,796 $ 445,947
Reedemable deferred stock units, units 128,227 119,471
Limited Partners' Capital Account, Units Outstanding (in units) 156,412,584  
General Partners' Capital Account, Units Outstanding (in units) 1,762,411  
Excess stock, par value $ 0.01 $ 0.01
Excess stock, shares authorized 150,000,000 150,000,000
Excess stock, shares outstanding 0 0
Excess stock, shares issued 0 0
Preferred stock, par value $ 0.01 $ 0.01
Preferred stock, shares authorized 50,000,000 50,000,000
Preferred stock / units, shares / units issued (in shares / units) 0 0
Preferred stock / units, shares / units outstanding (in shares / units) 0 0
Common Stock, Par or Stated Value Per Share $ 0.01 $ 0.01
Common stock, shares authorized 250,000,000 250,000,000
Common stock, shares issued 158,253,895 157,019,766
Common Stock, Shares, Outstanding 158,174,995 156,940,866
Treasury common stock at cost, shares 78,900 78,900
Boston Properties Limited Partnership    
Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $7,797,430 and $7,054,075 at December 31, 2024 and December 31, 2023, respectively) $ 27,504,358 $ 26,382,944
Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at December 31, 2024 and December 31, 2023, respectively) 372,922 401,680
Right of use assets - operating leases (amounts related to VIEs of $140,558 and $158,885 at December 31, 2024 and December 31, 2023, respectively) [1] 334,767 324,298
Less: accumulated depreciation (amounts related to VIEs of $(1,628,274) and $(1,501,483) at December 31, 2024 and December 31, 2023, respectively) (7,397,882) (6,758,361)
Cash and cash equivalents (amounts related to VIEs of $373,737 and $245,317 at December 31, 2024 and December 31, 2023, respectively) 1,254,882 1,531,477
Cash held in escrows (amounts related to VIEs of $4,979 and $22,160 at December 31, 2024 and December 31, 2023, respectively) 80,314 81,090
Tenant and other receivables, net (amounts related to VIEs of $20,435 and $27,987 at December 31, 2024 and December 31, 2023, respectively) 107,453 122,407
Accrued rental income, net (amounts related to VIEs of $435,110 and $401,159 at December 31, 2024 and December 31, 2023, respectively) 1,466,220 1,355,212
Deferred charges, net (amounts related to VIEs of $211,726 and $175,383 at December 31, 2024 and December 31, 2023, respectively) 813,345 760,421
Prepaid expenses and other assets (amounts related to VIEs of $15,036 and $11,824 at December 31, 2024 and December 31, 2023, respectively) 70,839 64,230
Mortgage notes payable, net (amounts related to VIEs of $3,282,027 and $3,277,185 at December 31, 2024 and December 31, 2023, respectively) 4,276,609 4,166,379
Lease liabilities - finance leases (amounts related to VIEs of $20,931 and $20,794 at December 31, 2024 and December 31, 2023, respectively) 370,885 417,961
Lease liabilities - operating leases (amounts related to VIEs of $157,691 and $145,826 at December 31, 2024 and December 31, 2023, respectively) 392,686 350,391
Accounts payable and accrued expenses (amounts related to VIEs of $115,808 and $59,667 at December 31, 2024 and December 31, 2023, respectively) 401,874 458,329
Other liabilities (amounts related to VIEs of $126,202 and $115,275 at December 31, 2024 and December 31, 2023, respectively) $ 450,796 $ 445,947
Reedemable deferred stock units, units 128,227 119,471
Limited Partners' Capital Account, Units Outstanding (in units) 156,412,584 155,185,716
General Partners' Capital Account, Units Outstanding (in units) 1,762,411 1,755,150
NonControlling Interest Redeemable Partnership Units Common Units Shares Outstanding 15,730,882 16,508,277
NonControlling Interest Redeemable Partnership Units Common Units Long Term Incentive Units At Redemption Value Shares Outstanding 2,335,229 2,065,861
Variable Interest Entity, Primary Beneficiary [Member]    
Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $7,797,430 and $7,054,075 at December 31, 2024 and December 31, 2023, respectively) $ 7,797,430 $ 7,054,075
Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at December 31, 2024 and December 31, 2023, respectively) 21,000 21,000
Right of use assets - operating leases (amounts related to VIEs of $140,558 and $158,885 at December 31, 2024 and December 31, 2023, respectively) 140,558 158,885
Less: accumulated depreciation (amounts related to VIEs of $(1,628,274) and $(1,501,483) at December 31, 2024 and December 31, 2023, respectively) (1,628,274) (1,501,483)
Cash and cash equivalents (amounts related to VIEs of $373,737 and $245,317 at December 31, 2024 and December 31, 2023, respectively) 373,737 245,317
Cash held in escrows (amounts related to VIEs of $4,979 and $22,160 at December 31, 2024 and December 31, 2023, respectively) 4,979 22,160
Tenant and other receivables, net (amounts related to VIEs of $20,435 and $27,987 at December 31, 2024 and December 31, 2023, respectively) 20,435 27,987
Accrued rental income, net (amounts related to VIEs of $435,110 and $401,159 at December 31, 2024 and December 31, 2023, respectively) 435,110 401,159
Deferred charges, net (amounts related to VIEs of $211,726 and $175,383 at December 31, 2024 and December 31, 2023, respectively) 211,726 175,383
Prepaid expenses and other assets (amounts related to VIEs of $15,036 and $11,824 at December 31, 2024 and December 31, 2023, respectively) 15,036 11,824
Mortgage notes payable, net (amounts related to VIEs of $3,282,027 and $3,277,185 at December 31, 2024 and December 31, 2023, respectively) 3,282,027 3,277,185
Lease liabilities - finance leases (amounts related to VIEs of $20,931 and $20,794 at December 31, 2024 and December 31, 2023, respectively) 20,931 20,794
Lease liabilities - operating leases (amounts related to VIEs of $157,691 and $145,826 at December 31, 2024 and December 31, 2023, respectively) 157,691 145,826
Accounts payable and accrued expenses (amounts related to VIEs of $115,808 and $59,667 at December 31, 2024 and December 31, 2023, respectively) 115,808 59,667
Other liabilities (amounts related to VIEs of $126,202 and $115,275 at December 31, 2024 and December 31, 2023, respectively) 126,202 115,275
Variable Interest Entity, Primary Beneficiary [Member] | Boston Properties Limited Partnership    
Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $7,797,430 and $7,054,075 at December 31, 2024 and December 31, 2023, respectively) 7,797,430 7,054,075
Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at December 31, 2024 and December 31, 2023, respectively) 21,000 21,000
Right of use assets - operating leases (amounts related to VIEs of $140,558 and $158,885 at December 31, 2024 and December 31, 2023, respectively) 140,558 158,885
Less: accumulated depreciation (amounts related to VIEs of $(1,628,274) and $(1,501,483) at December 31, 2024 and December 31, 2023, respectively) (1,628,274) (1,501,483)
Cash and cash equivalents (amounts related to VIEs of $373,737 and $245,317 at December 31, 2024 and December 31, 2023, respectively) 373,737 245,317
Cash held in escrows (amounts related to VIEs of $4,979 and $22,160 at December 31, 2024 and December 31, 2023, respectively) 4,979 22,160
Tenant and other receivables, net (amounts related to VIEs of $20,435 and $27,987 at December 31, 2024 and December 31, 2023, respectively) 20,435 27,987
Accrued rental income, net (amounts related to VIEs of $435,110 and $401,159 at December 31, 2024 and December 31, 2023, respectively) 435,110 401,159
Deferred charges, net (amounts related to VIEs of $211,726 and $175,383 at December 31, 2024 and December 31, 2023, respectively) 211,726 175,383
Prepaid expenses and other assets (amounts related to VIEs of $15,036 and $11,824 at December 31, 2024 and December 31, 2023, respectively) 15,036 11,824
Mortgage notes payable, net (amounts related to VIEs of $3,282,027 and $3,277,185 at December 31, 2024 and December 31, 2023, respectively) 3,282,027 3,277,185
Lease liabilities - finance leases (amounts related to VIEs of $20,931 and $20,794 at December 31, 2024 and December 31, 2023, respectively) 20,931 20,794
Lease liabilities - operating leases (amounts related to VIEs of $157,691 and $145,826 at December 31, 2024 and December 31, 2023, respectively) 157,691 145,826
Accounts payable and accrued expenses (amounts related to VIEs of $115,808 and $59,667 at December 31, 2024 and December 31, 2023, respectively) 115,808 59,667
Other liabilities (amounts related to VIEs of $126,202 and $115,275 at December 31, 2024 and December 31, 2023, respectively) $ 126,202 $ 115,275
[1] See Note 4.