XML 19 R4.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Consolidated Statements Of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenue        
Lease $ 790,555 $ 761,733 $ 1,579,145 $ 1,518,608
Total revenue 850,482 817,153 1,689,921 1,620,353
Expenses        
Rental 321,426 291,036 635,583 582,344
General and administrative 44,109 44,175 94,127 99,977
Transaction costs 189 308 702 1,219
Depreciation and amortization 219,542 202,577 438,258 411,311
Total expenses 599,253 550,866 1,192,965 1,119,527
Other income (expense)        
Income (loss) from unconsolidated joint ventures (5,799) (6,668) 13,387 (14,237)
Interest and other income (loss) 10,788 17,343 25,317 28,284
Gains from investments in securities 315 1,571 2,587 3,236
Unrealized gain on non-real estate investments 58 124 454 383
Impairment loss 0 0 (13,615) 0
Interest expense (149,642) (142,473) (311,533) (276,680)
Net Income (loss) 106,949 136,184 213,553 241,812
Net income attributable to noncontrolling interests        
Noncontrolling interests in property partnerships (17,825) (19,768) (35,046) (38,428)
Noncontrolling interest - common units of the Operating Partnership (9,509) (12,117) (19,009) (21,169)
Net income attributable to BXP, Inc. 79,615 104,299 159,498 182,215
Net income attributable to the Company $ 79,615 $ 104,299 $ 159,498 $ 182,215
Basic earnings per common share / unit attributable to the Company common shareholders / unitholders        
Earnings Per Share After Allocation of Undistributed Earnings to Participating Securities Basic (dollars per share) $ 0.51 $ 0.67 $ 1.02 $ 1.16
Weighted average number of common shares / units outstanding (in shares / units) 157,039 156,826 157,011 156,815
Diluted earnings per common share / unit attributable to the Company common shareholders / unitholders        
Diluted Earnings: Net income, Per Share Amount (in dollars per share / unit) $ 0.51 $ 0.66 $ 1.01 $ 1.16
Weighted average number of common and common equivalent shares / units outstanding (in shares / units) 157,291 157,218 157,210 157,131
Boston Properties Limited Partnership        
Revenue        
Lease $ 790,555 $ 761,733 $ 1,579,145 $ 1,518,608
Total revenue 850,482 817,153 1,689,921 1,620,353
Expenses        
Rental 321,426 291,036 635,583 582,344
General and administrative 44,109 44,175 94,127 99,977
Transaction costs 189 308 702 1,219
Depreciation and amortization 217,839 200,895 434,858 407,767
Total expenses 597,550 549,184 1,189,565 1,115,983
Other income (expense)        
Income (loss) from unconsolidated joint ventures (5,799) (6,668) 13,387 (14,237)
Interest and other income (loss) 10,788 17,343 25,317 28,284
Gains from investments in securities 315 1,571 2,587 3,236
Unrealized gain on non-real estate investments 58 124 454 383
Impairment loss 0 0 (13,615) 0
Interest expense (149,642) (142,473) (311,533) (276,680)
Net Income (loss) 108,652 137,866 216,953 245,356
Net income attributable to noncontrolling interests        
Noncontrolling interests in property partnerships (17,825) (19,768) (35,046) (38,428)
Net income attributable to BXP, Inc. 90,827 118,098 181,907 206,928
Net income attributable to the Company $ 90,827 $ 118,098 $ 181,907 $ 206,928
Basic earnings per common share / unit attributable to the Company common shareholders / unitholders        
Earnings Per Share After Allocation of Undistributed Earnings to Participating Securities Basic (dollars per share) $ 0.52 $ 0.68 $ 1.04 $ 1.18
Weighted average number of common shares / units outstanding (in shares / units) 175,408 174,748 175,332 174,693
Diluted earnings per common share / unit attributable to the Company common shareholders / unitholders        
Diluted Earnings: Net income, Per Share Amount (in dollars per share / unit) $ 0.52 $ 0.67 $ 1.04 $ 1.18
Weighted average number of common and common equivalent shares / units outstanding (in shares / units) 175,660 175,140 175,531 175,009
Parking and Other [Member]        
Revenue        
Other revenue $ 34,615 $ 26,984 $ 66,831 $ 50,993
Parking and Other [Member] | Boston Properties Limited Partnership        
Revenue        
Other revenue 34,615 26,984 66,831 50,993
Hotel [Member]        
Revenue        
Other revenue 14,812 [1] 13,969 [1] 22,998 [2] 22,070 [2]
Expenses        
Operating expense 9,839 8,161 15,854 14,832
Hotel [Member] | Boston Properties Limited Partnership        
Revenue        
Other revenue 14,812 13,969 22,998 22,070
Expenses        
Operating expense 9,839 8,161 15,854 14,832
Management Service [Member]        
Revenue        
Other revenue 6,352 9,858 12,506 18,838
Management Service [Member] | Boston Properties Limited Partnership        
Revenue        
Other revenue 6,352 9,858 12,506 18,838
Real Estate, Other [Member]        
Revenue        
Other revenue 4,148 4,609 8,441 9,844
Expenses        
Operating expense 4,148 4,609 8,441 9,844
Real Estate, Other [Member] | Boston Properties Limited Partnership        
Revenue        
Other revenue 4,148 4,609 8,441 9,844
Expenses        
Operating expense $ 4,148 $ 4,609 $ 8,441 $ 9,844
[1] Rental Revenue is equal to Total Revenue per the Company’s Consolidated Statements of Operations, less Development and Management Services Revenue and Direct Reimbursements of Payroll and Related Costs from Management Services Contracts Revenue per the Consolidated Statements of Operations.
[2] Rental Revenue is equal to Total Revenue per the Company’s Consolidated Statements of Operations, less Development and Management Services Revenue and Direct Reimbursements of Payroll and Related Costs from Management Services Contracts Revenue per the Consolidated Statements of Operations.