XML 61 R2.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
ASSETS    
Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $6,564,762 and $6,497,031 at March 31, 2020 and December 31, 2019, respectively) $ 22,342,209 $ 22,502,976
Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at March 31, 2020 and December 31, 2019, respectively) 237,394 237,394
Right of use assets - operating leases 148,057 148,640
Less: accumulated depreciation (amounts related to VIEs of $(1,082,486) and$(1,058,495) at March 31, 2020 and December 31, 2019, respectively) (5,209,487) (5,266,798)
Total real estate 17,518,173 17,622,212
Cash and cash equivalents (amounts related to VIEs of $268,415 and $280,033 at March 31, 2020 and December 31, 2019, respectively) 660,733 644,950
Cash held in escrows 197,845 46,936
Investments in securities 28,101 36,747
Tenant and other receivables, net (amounts related to VIEs of $19,954 and $28,918 at March 31, 2020 and December 31, 2019, respectively) 89,431 112,807
Related party note receivable, net 78,800 80,000
Note receivable, net 15,794 15,920
Accrued rental income, net (amounts related to VIEs of $308,482 and $298,318 at March 31, 2020 and December 31, 2019, respectively) 1,059,677 1,038,788
Deferred charges, net (amounts related to VIEs of $205,688 and $214,769 at March 31, 2020 and December 31, 2019, respectively) 667,076 689,213
Prepaid expenses and other assets (amounts related to VIEs of $52,641 and $20,931 at March 31, 2020 and December 31, 2019, respectively) 136,730 41,685
Investments in unconsolidated joint ventures 1,377,338 955,647
Total assets 21,829,698 21,284,905
Liabilities:    
Mortgage notes payable, net (amounts related to VIEs of $2,916,068 and $2,918,806 at March 31, 2020 and December 31, 2019, respectively) 2,919,157 2,922,408
Unsecured senior notes, net 8,393,009 8,390,459
Unsecured line of credit 250,000 0
Unsecured term loan, net 499,058 498,939
Lease liabilities - finance leases (amounts related to VIEs of $20,198 and $20,189 at March 31, 2020 and December 31, 2019, respectively) 227,067 224,042
Lease liabilities - operating leases 200,573 200,180
Accounts payable and accrued expenses (amounts related to VIEs of $28,437 and $45,777 at March 31, 2020 and December 31, 2019, respectively) 293,831 377,553
Dividends and distributions payable 171,026 170,713
Accrued interest payable 82,388 90,016
Other liabilities (amounts related to VIEs of $142,381 and $140,110 at March 31, 2020 and December 31, 2019, respectively) 366,852 387,994
Total liabilities 13,402,961 13,262,304
Commitments and contingencies 0 0
Redeemable deferred stock units— 63,475 and 60,676 units outstanding at redemption value at March 31, 2020 and December 31, 2019, respectively 5,854 8,365
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 March 31, 2020 and December 31, 2019, respectively 200,000 200,000
Common stock, $0.01 par value, 250,000,000 shares authorized, 155,393,455 and 154,869,198 issued and 155,314,555 and 154,790,298 outstanding at March 31, 2020 and December 31, 2019, respectively 1,553 1,548
Additional paid-in capital 6,321,475 6,294,719
Dividends in excess of earnings (416,740) (760,523)
Treasury common stock at cost, 78,900 shares at March 31, 2020 and December 31, 2019 (2,722) (2,722)
Accumulated other comprehensive loss (55,700) (48,335)
Total stockholders' equity attributable to Boston Properties, Inc. 6,047,866 5,684,687
Noncontrolling interests:    
Common units of the Operating Partnership 636,572 600,860
Property partnerships 1,736,445 1,728,689
Total equity / capital 8,420,883 8,014,236
Total liabilities and equity / capital 21,829,698 21,284,905
Boston Properties Limited Partnership    
ASSETS    
Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $6,564,762 and $6,497,031 at March 31, 2020 and December 31, 2019, respectively) 21,959,932 22,107,755
Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at March 31, 2020 and December 31, 2019, respectively) 237,394 237,394
Right of use assets - operating leases 148,057 148,640
Less: accumulated depreciation (amounts related to VIEs of $(1,082,486) and$(1,058,495) at March 31, 2020 and December 31, 2019, respectively) (5,107,243) (5,162,908)
Total real estate 17,238,140 17,330,881
Cash and cash equivalents (amounts related to VIEs of $268,415 and $280,033 at March 31, 2020 and December 31, 2019, respectively) 660,733 644,950
Cash held in escrows 197,845 46,936
Investments in securities 28,101 36,747
Tenant and other receivables, net (amounts related to VIEs of $19,954 and $28,918 at March 31, 2020 and December 31, 2019, respectively) 89,431 112,807
Related party note receivable, net 78,800 80,000
Note receivable, net 15,794 15,920
Accrued rental income, net (amounts related to VIEs of $308,482 and $298,318 at March 31, 2020 and December 31, 2019, respectively) 1,059,677 1,038,788
Deferred charges, net (amounts related to VIEs of $205,688 and $214,769 at March 31, 2020 and December 31, 2019, respectively) 667,076 689,213
Prepaid expenses and other assets (amounts related to VIEs of $52,641 and $20,931 at March 31, 2020 and December 31, 2019, respectively) 136,730 41,685
Investments in unconsolidated joint ventures 1,377,338 955,647
Total assets 21,549,665 20,993,574
Liabilities:    
Mortgage notes payable, net (amounts related to VIEs of $2,916,068 and $2,918,806 at March 31, 2020 and December 31, 2019, respectively) 2,919,157 2,922,408
Unsecured senior notes, net 8,393,009 8,390,459
Unsecured line of credit 250,000 0
Unsecured term loan, net 499,058 498,939
Lease liabilities - finance leases (amounts related to VIEs of $20,198 and $20,189 at March 31, 2020 and December 31, 2019, respectively) 227,067 224,042
Lease liabilities - operating leases 200,573 200,180
Accounts payable and accrued expenses (amounts related to VIEs of $28,437 and $45,777 at March 31, 2020 and December 31, 2019, respectively) 293,831 377,553
Dividends and distributions payable 171,026 170,713
Accrued interest payable 82,388 90,016
Other liabilities (amounts related to VIEs of $142,381 and $140,110 at March 31, 2020 and December 31, 2019, respectively) 366,852 387,994
Total liabilities 13,402,961 13,262,304
Commitments and contingencies 0 0
Redeemable deferred stock units— 63,475 and 60,676 units outstanding at redemption value at March 31, 2020 and December 31, 2019, respectively 5,854 8,365
Redeemable partnership units— 16,421,888 and 16,764,466 common units and 1,343,299 and 1,143,215 long term incentive units outstanding at redemption value at March 31, 2020 and December 31, 2019, respectively 1,639,855 2,468,753
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 March 31, 2020 and December 31, 2019, respectively 193,623 193,623
Boston Properties Limited Partnership partners’ capital— 1,730,797 and 1,726,980 general partner units and 153,583,758 and 153,063,318 limited partner units outstanding at March 31, 2020 and December 31, 2019, respectively 4,626,627 3,380,175
Accumulated other comprehensive loss (55,700) (48,335)
Total partners’ capital 4,764,550 3,525,463
Noncontrolling interests in property partnerships 1,736,445 1,728,689
Noncontrolling interests:    
Total equity / capital 6,500,995 5,254,152
Total liabilities and equity / capital $ 21,549,665 $ 20,993,574