BOSTON PROPERTIES, INC. BXP Cash Flow

Boston properties, inc. (BXP)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09	Jun'09	Mar'09
Cash flows from operating activities:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
1,097,986	651,999	661,231	670,306	627,410	712,563	659,525	656,784	663,229	562,481	595,172	518,972	469,319	569,977	571,821	823,588	806,970	799,918	844,605	672,309	667,471	526,057	420,944	440,405	851,265	841,440	811,736	706,822	334,235	332,139	370,974	385,903	321,467	313,826	185,627	173,265	176,014	190,327	265,829	275,390	282,976	274,499	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
684,264	677,764	673,306	665,440	644,446	645,649	634,469	628,637	624,139	617,547	641,320	692,904	694,160	694,403	680,831	630,098	644,767	639,542	637,512	641,742	628,526	628,573	621,552	618,500	598,476	565,397	530,538	487,899	465,370	454,044	442,675	440,616	439,621	439,184	422,766	394,404	364,724	338,371	324,733	321,781	327,386	321,681	0	0	0
Amortization of right of use assets - operating leases
2,390	2,412	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment loss
0	24,038	35,850	35,850	35,850	11,812	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,306	8,306	8,306	8,306	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash compensation expense
43,433	40,958	41,670	42,318	40,395	40,117	39,801	39,367	39,331	35,361	34,881	34,501	33,644	32,911	31,648	30,350	28,241	29,183	28,216	27,680	28,730	28,099	28,862	29,590	29,752	45,155	43,821	44,030	44,104	29,679	30,829	30,020	29,174	29,672	29,829	30,272	30,697	32,852	33,225	33,328	33,553	26,636	0	0	0
Income (Loss) from Equity Method Investments
46,010	46,592	52,833	49,169	1,974	2,222	1,114	6,270	8,609	11,232	9,620	10,241	9,367	8,074	7,700	8,883	9,727	22,770	23,259	25,031	24,787	12,769	12,903	23,220	69,169	75,074	79,189	73,670	46,078	49,078	99,841	101,950	89,641	85,896	38,018	38,257	36,840	36,774	27,902	22,687	14,871	12,058	0	0	0
Distributions of net cash flow from operations of unconsolidated joint ventures
20,422	17,155	19,485	8,930	8,506	6,703	22,283	25,616	25,844	26,858	21,873	16,461	16,098	24,955	13,630	14,099	17,837	8,469	10,726	10,936	7,291	7,372	6,123	9,116	21,110	32,600	44,250	52,501	50,951	47,002	44,988	42,599	41,160	39,851	34,767	29,502	23,497	16,734	13,989	11,445	11,726	12,676	0	0	0
Losses (gains) from investments in securities
-1,997	6,417	921	1,890	1,230	-1,865	2,416	2,285	2,510	3,678	3,276	3,308	3,056	2,273	2,206	-285	-787	-653	-759	459	1,145	1,038	1,690	2,943	2,462	2,911	2,059	1,690	1,323	1,389	1,240	-207	-15	-443	201	1,792	1,108	935	763	1,349	3,221	2,434	0	0	0
Non-cash portion of interest expense
22,453	22,254	21,975	21,596	21,451	21,303	21,305	21,302	11,744	-1,284	-14,333	-27,701	-32,643	-35,052	-36,839	-39,749	-41,525	-42,271	-43,408	-43,024	-42,551	-39,343	-55,253	-35,642	-15,588	2,649	39,599	41,358	41,847	43,131	46,627	49,841	53,373	54,962	54,991	54,594	55,020	56,174	56,552	57,103	56,646	55,664	0	0	0
Settlement of accreted debt discount on redemption of unsecured senior notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-94,963	-92,979	-92,979	-149,511	-56,532	-57,271	-57,271	-739	-69,499	0	0	0	-	-	-	-13,891	-17,555	0	0	0	-	-	-	-
Gain (Loss) on Extinguishment of Debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,000	0	0	0	-	-	-	-10,041	-12,211	0	0	0	-	-	-	-
Suspension of development
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,200	7,200	7,200	7,200	-27,766	0	0	0
Losses (gains) on sales of real estate
411,779	709	60,570	68,448	85,054	182,356	123,424	118,452	103,927	7,663	6,791	16,883	13,116	80,606	161,938	348,434	348,434	375,895	420,665	263,123	263,123	168,039	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	2,734	4,812	7,206	10,730	11,760	0	0	0
Gain on forgiveness of debt from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	20,182	20,182	20,182	20,182	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Impairment loss from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,241	3,241	3,241	3,241	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Change in assets and liabilities:
Cash held in escrows
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-16,141	17,477	17,388	18,284	33,274	-5,305	-1,516	-3,433	-255	4,419	-3,573	-315	-6,883	-4,892	-862	-10,272	-3,833	-2,674	-6,973	9,801	13,488	9,557	17,344	8,664	2,590	3,093	1,428	-103	0	0	0
Tenant and other receivables, net
-6,908	24,876	-6,949	15,322	7,586	-29,204	8,517	-33,412	-6,200	-2,433	5,919	8,242	2,307	-3,688	4,340	23,775	20,135	46,326	23,236	3,835	9,956	-12,869	-12,183	-14,691	-10,519	443	1,897	13,983	-11,159	-23,155	3,813	5,622	2,783	19,396	-5,060	-683	-1,225	5,115	13,105	-6,678	5,963	-1,844	0	0	0
Note receivable, net
-1	-4	389	263	138	13	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued rental income, net
68,532	56,817	21,470	35,376	32,913	43,662	63,862	84,766	75,516	58,355	49,521	42,181	24,304	28,127	32,588	39,032	63,642	73,911	71,660	76,088	71,022	57,899	57,516	52,829	55,804	59,972	62,822	66,966	72,418	77,363	73,014	70,321	78,798	79,992	87,830	90,824	86,175	79,562	67,299	60,931	45,705	46,410	0	0	0
Prepaid expenses and other assets
22,300	-2,965	-553	-7,794	-10,886	-12,472	-13,120	-10,561	-5,654	-51,425	-34,407	-26,394	13,834	-52,923	32,982	17,670	-25,236	16,877	-76,030	-32,341	-17,696	-20,238	-19,407	-46,700	-271	-12,966	4,330	14,005	-18,654	-6,990	2,541	-5,995	2,761	39,213	39,251	-1,435	-7,121	-3,239	-186	-520	3,334	-4,717	0	0	0
Lease liabilities - operating leases
-1,639	-1,616	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable and accrued expenses
-36,222	12,627	27,466	28,710	15,524	1,353	8,975	3,191	12,875	10,482	6,675	3,822	4,569	15,666	13,479	8,899	-5,984	-6,310	-3,271	2,634	-2,920	3,903	8,166	7,005	15,568	13,108	9,320	7,963	1,119	3,854	5,032	3,781	17,357	6,660	3,222	1,751	-18,451	-32,839	-24,666	-26,981	-8,451	14,848	0	0	0
Accrued interest payable
-6,626	858	-9,727	-7,840	-7,322	5,237	-6,828	11,239	-170,903	-160,521	-135,528	-137,003	45,136	53,547	33,712	43,627	34,948	26,854	18,962	22,524	7,979	-3,991	644	7,781	2,272	21,302	5,676	9,295	2,024	3,356	12,319	3,142	12,525	6,778	4,866	-18,475	18,904	-13,731	35,153	14,058	18,837	8,926	0	0	0
Other liabilities
-53,034	-49,569	-71,933	-37,119	-35,965	4,955	18,542	-278	-14,777	-44,970	-56,823	-67,387	-79,856	-106,071	-74,956	-49,230	-44,188	-34,005	-70,448	-75,200	-58,812	-57,873	-49,370	-17,094	-12,421	2,073	-1,059	-11,143	-15,232	1,354	15,294	27,497	21,392	6,569	-5,059	-8,421	-5,315	-9,393	-21,575	-24,039	-7,076	-9,452	0	0	0
Tenant leasing costs
-116,639	-117,282	-117,498	-128,514	-117,567	-130,742	-126,096	-121,920	-112,393	-104,429	-101,390	-92,700	-99,867	-96,103	-97,386	-88,047	-82,655	-90,396	-90,851	-97,091	-110,119	-99,076	-82,925	-81,562	-64,061	-56,428	-72,174	-72,821	-77,820	-76,821	-135,795	-97,999	-51,988	-53,212	10,524	-20,891	-59,067	-59,513	-52,432	-50,881	-50,727	-46,280	0	0	0
Total adjustments
51,142	529,166	538,179	484,697	504,291	437,682	438,116	451,232	234,676	349,498	280,556	296,234	456,101	464,571	362,497	116,898	139,975	-507	-9,851	157,327	105,319	169,496	276,238	311,676	-186,559	-63,514	-82,052	-60,115	376,882	310,810	256,181	261,404	321,838	292,502	300,271	282,225	272,069	185,566	236,485	235,553	284,358	342,877	0	0	0
Net cash provided by operating activities
1,149,128	1,181,165	1,199,410	1,155,003	1,131,701	1,150,245	1,097,641	1,108,016	897,905	911,979	875,728	815,206	925,420	1,034,548	934,318	940,486	946,945	799,411	834,754	829,636	772,790	695,553	697,182	752,081	664,706	777,926	729,684	646,707	711,117	642,949	627,155	647,307	643,305	606,328	485,898	455,490	448,083	375,893	502,314	510,943	567,334	617,376	0	0	0
Cash flows from investing activities:
Acquisition of real estate
105,970	149,031	148,912	43,061	43,061	0	0	0	0	-	-	-	-	-	-	-	-	0	0	0	0	-	-	-	-	522,900	191,224	257,938	24,854	356,397	759,153	692,439	692,439	112,180	0	0	0	-	-	-	-	3,664	0	0	0
Construction in progress
603,588	546,060	554,677	517,485	630,363	694,791	686,510	691,222	603,946	608,404	592,917	555,153	531,928	500,350	0	0	0	-	-	-	-	405,942	-422,241	-422,382	-390,682	-396,835	0	0	0	-	-716,063	-287,146	-300,636	-271,856	117,416	-277,978	-294,363	-321,978	0	0	0	-	-	-	-
Building and other capital improvements
186,991	180,556	178,142	172,984	168,940	189,771	201,056	218,404	232,345	222,482	231,193	203,142	168,998	150,640	109,953	112,928	118,693	112,755	109,794	93,327	84,360	82,479	84,345	87,425	77,169	73,821	64,589	52,055	55,492	49,943	64,714	70,140	61,700	61,961	35,712	26,670	25,361	20,683	0	0	0	-	-	-	-
Tenant improvements
261,761	251,831	272,116	241,992	217,119	210,034	182,032	181,780	201,678	205,331	215,285	220,896	225,369	230,298	226,282	210,063	173,361	144,572	111,363	103,512	101,402	106,003	107,655	103,372	111,988	105,425	110,024	122,864	129,738	139,662	134,020	120,816	96,981	76,320	255,637	205,017	150,465	113,495	0	0	0	-	-	-	-
Proceeds from sales of real estate
330,294	90,824	363,318	374,558	359,308	455,409	175,577	154,010	145,797	29,810	29,810	34,983	18,067	122,750	335,893	512,595	512,595	602,600	705,779	614,685	614,685	419,864	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sales of real estate placed in escrow
-	-	-	-	-	-	-	-	-	-	-	-	-	-	122,647	104,696	103,451	200,612	2,013,042	2,112,959	2,114,204	1,912,347	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sales of real estate released from escrow
-	-	-	-	-	-	-	-	-	-	-	-	-	-	122,647	296,958	638,945	634,165	2,112,959	1,920,697	1,578,710	1,478,794	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash released from escrow for investing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash released from escrow for land sale contracts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,465	5,335	5,800	5,312	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash placed in escrow for investment in unconsolidated joint venture
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-10,000	0	0	0	-	-	-	-	-	-	-	-
Repayments of notes receivable, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Capital contributions to unconsolidated joint ventures
150,394	87,392	97,141	330,535	323,889	345,717	333,216	132,774	139,858	109,015	118,687	591,246	583,560	575,795	564,326	49,258	45,978	38,207	25,148	19,274	54,496	52,052	47,767	47,767	-113	0	5,847	5,889	6,280	6,214	470	1,579	16,785	17,970	19,247	18,417	27,945	62,806	62,619	65,972	43,967	11,015	0	0	0
Proceeds from sale of investment in unconsolidated joint venture
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	23,886	24,170	24,414	0	3,436	25,037	225,975	225,862	223,567	201,682	3,500	3,557	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-
Investments in securities, net
-1,954	2,132	2,078	1,458	1,469	902	979	997	1,026	1,669	1,683	1,698	1,684	1,161	1,171	1,107	1,128	1,574	1,570	1,567	1,565	1,780	1,767	1,758	1,739	1,558	1,526	1,500	1,309	1,235	1,240	1,268	1,408	1,259	0	0	0	-	-	-	-	-	-	-	-
Investments in securities, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,288	5,496	5,037	4,078	0	0	0
Net cash used in investing activities
-865,369	-1,015,091	-815,275	-941,027	-1,138,603	-1,098,876	-1,308,216	-820,167	-798,009	-882,044	-826,858	-1,459,433	-1,495,813	-1,337,347	-1,783,411	-884,983	-392,308	-280,226	221,933	-139,388	-515,327	-665,124	-567,451	-426,909	-246,721	-532,640	-711,365	-923,920	-950,913	-1,278,032	-1,079,806	-706,404	-729,177	-90,096	-415,970	-1,065,814	-1,129,357	-1,161,274	-894,022	-533,202	-506,633	-446,601	0	0	0
Cash flows from financing activities:
Proceeds from mortgage notes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	268,964	274,738	74,348	92,969	107,929	0	0	0
Repayments of mortgage notes payable
44,740	46,173	19,467	19,144	18,946	18,634	18,440	18,137	1,317,948	1,317,653	1,317,471	2,413,038	1,325,638	1,326,865	1,357,948	264,427	54,042	54,801	25,865	88,460	88,152	87,758	65,591	12,653	63,254	80,311	102,323	113,877	127,045	253,877	304,071	1,003,067	1,393,583	1,251,841	1,624,734	1,162,642	731,737	730,191	307,501	69,368	125,108	125,238	0	0	0
Proceeds from unsecured senior notes
-	-	-	-	-	-	-	-	-	-	-	-	-	1,989,790	1,989,790	997,080	997,080	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Redemption/repurchase of unsecured exchangeable senior notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	654,521	654,521	654,521	1,047,989	393,468	393,468	393,468	0	507,434	0	0	0	-	-	-	169,272	218,592	0	0	0	-	-	-	-
Borrowings on unsecured line of credit
595,000	380,000	545,000	780,000	535,000	745,000	690,000	495,000	665,000	580,000	495,000	455,000	200,000	25,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of unsecured line of credit
345,000	380,000	715,000	780,000	650,000	790,000	520,000	495,000	655,000	535,000	495,000	455,000	95,000	25,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of outside members’ notes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	25,000	0	0	0
Payments on finance lease obligations
32	502	502	628	470	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on capital lease obligations
-	-	-	-	-	-	-	-	474	493	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from real estate financing transaction
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,000	20,523	20,523	20,523	14,523	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on real estate financing transactions
-	-	-	-	-	960	2,494	2,787	2,804	2,840	1,854	1,983	4,959	5,260	5,451	5,870	3,248	3,103	2,598	1,757	870	234	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred financing costs
13,038	13,213	21,229	15,211	8,532	8,362	6,885	7,333	50,721	50,705	44,103	51,709	8,074	16,121	16,323	9,394	9,537	1,510	1,288	163	33	31	46	6,680	15,213	15,195	15,200	9,256	8,377	8,468	15,315	17,508	15,385	15,970	0	0	0	-	-	-	-	9,849	0	0	0
Net proceeds from preferred stock issuance
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	193,623	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net proceeds from ATM stock issuances
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	247,027	247,186	291,506	202,998	439,037	0	0	0	-	-	-	-	-	-	-	-
Net proceeds from equity transactions
15,267	13,710	2,165	2,215	1,785	-730	-333	-262	-299	241	240	214	203	-271	-270	-199	287	799	1,192	1,093	2,305	1,923	1,544	1,522	-302	-334	-338	-1,441	-946	226	329	1,833	7,152	9,667	10,214	25,346	24,872	22,593	25,730	13,077	850,952	850,624	0	0	0
Dividends and distributions
671,896	666,294	665,991	639,835	613,702	587,628	552,942	544,111	535,311	526,578	509,264	491,946	474,614	671,626	671,442	671,260	671,082	1,226,199	1,225,969	1,225,492	1,227,618	840,264	839,992	840,279	836,508	451,118	431,345	411,081	391,527	372,899	362,990	353,036	343,467	332,597	330,034	327,471	325,177	324,686	324,149	323,681	340,627	357,328	0	0	0
Contributions from noncontrolling interests in property partnerships
35,305	35,816	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Distributions to noncontrolling interests in property partnerships
61,535	69,913	78,854	77,869	75,939	82,501	69,533	71,260	71,231	54,342	58,385	56,675	56,360	55,474	64,275	161,941	167,890	172,949	158,962	59,591	49,949	37,118	28,963	19,623	12,667	9,624	9,857	8,872	7,272	5,922	2,757	2,507	2,257	2,007	3,365	3,365	3,365	3,365	2,007	2,007	2,757	4,007	0	0	0
Acquisition of noncontrolling interest in property partnership
-	-	-	-	-	0	-38,196	-23,496	7,122	0	43,410	30,407	17,607	11,951	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) financing activities
142,521	-113,379	-3,154	221,888	-15,929	82,453	57,525	-100,569	1,050	55,346	34,851	-69,827	-754,892	-74,621	-118,591	-218,210	-13,355	-1,558,546	-516,344	-384,073	-372,640	-632,487	-924,342	-897,327	-147,788	1,077,873	399,741	213,947	557,976	-146,147	612,842	950,510	-70,237	828,028	-276,978	-312,540	208,187	-184,604	879,676	906,462	1,015,902	1,036,648	0	0	0
Net increase (decrease) in cash and cash equivalents and cash held in escrows
426,280	52,695	380,981	435,864	-22,831	133,822	-153,050	187,280	100,946	85,281	83,721	-714,054	-1,325,285	-377,420	-967,684	-162,707	541,282	-1,039,361	540,343	306,175	-115,177	-602,058	-794,611	-572,155	270,197	1,323,159	418,060	-63,266	318,180	-781,230	160,191	891,413	-156,109	1,344,260	-207,050	-922,864	-473,087	-969,985	487,968	884,203	1,076,603	1,207,423	0	0	0
Supplemental disclosures:
Cash paid for interest
446,661	439,059	450,849	439,875	433,701	416,019	424,500	403,339	595,124	598,486	583,727	604,615	432,841	433,591	461,512	457,905	470,842	481,826	503,934	507,692	530,234	646,516	669,270	656,562	694,271	547,973	504,687	475,549	414,850	480,866	472,880	471,813	455,465	386,170	377,594	398,956	369,301	394,172	333,641	337,852	308,906	307,059	0	0	0
Interest capitalized
57,236	54,900	55,459	55,870	60,235	65,800	69,408	69,471	66,133	61,100	53,530	46,660	42,276	39,200	37,254	36,566	35,517	34,213	33,582	36,705	42,732	52,476	62,709	67,884	71,443	68,152	63,121	55,854	47,495	44,278	43,386	46,259	48,140	48,178	50,770	47,068	44,133	40,981	38,049	41,729	44,793	48,816	0	0	0
Non-cash investing and financing activities:
Write-off of fully depreciated real estate
136,973	129,831	121,809	117,814	137,462	135,431	121,037	117,656	105,208	124,891	141,832	240,148	238,495	206,721	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in real estate included in accounts payable and accrued expenses
12,141	89,245	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Real estate acquired through capital leases
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued rental income, net deconsolidated
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Additions to real estate included in accounts payable and accrued expenses
-	-	-	-	-	-	-	-	18,515	-	23,264	35,984	68,084	-1,481	58,603	42,910	40,885	74,985	6,799	11,342	-1,581	-1,431	-6,205	-19,739	-17,906	-19,824	9,266	15,580	15,875	14,059	6,796	-5,162	8,332	10,767	11,927	22,195	11,683	3,693	2,269	-3,789	17,557	36,789	0	0	0
Real estate acquired through finance lease
-	-	-	-	-	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tenant leasing costs, net deconsolidated
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Mortgage note payable extinguished through foreclosure
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	25,000	25,000	25,000	25,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Building and other capital improvements, net deconsolidated
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,508	7,508	7,508	7,508	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Tenant improvements, net deconsolidated
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investment in unconsolidated joint venture recorded upon deconsolidation
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Land improvements contributed by noncontrolling interest in property partnership
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,546	4,546	4,546	4,546	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Mortgage notes payable assigned in connection with the sale of real estate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	143,900	0	0	0	-	-	-	-	-	-	-	-
Dividends and distributions declared but not paid
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Conversions of noncontrolling interests to stockholders’ equity
19,888	4,885	2,203	2,896	2,540	2,880	2,216	1,690	16,955	16,916	17,392	20,219	6,808	6,461	6,067	6,164	23,478	14,343	19,225	15,784	-5,362	2,700	38,329	38,359	29,936	30,291	-33,791	-38,099	-28,867	-34,621	-167,915	-139,880	-120,740	-85,498	40,251	26,388	11,056	-17,182	15,737	7,028	4,093	3,970	0	0	0
Conversion of redeemable preferred units to common units
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,852	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of restricted securities to employees and directors
43,298	37,622	38,633	38,633	38,047	37,052	37,620	37,386	37,830	35,989	35,615	35,849	35,577	33,615	33,703	33,703	33,706	43,355	43,363	43,363	43,190	27,445	27,445	27,445	30,710	30,077	29,924	30,320	25,960	26,198	26,351	25,955	26,843	25,087	25,087	25,541	24,837	19,222	19,222	18,768	20,113	22,964	0	0	0
Boston Properties Limited Partnership
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
1,115,329	661,722	676,755	687,219	644,383	730,312	671,585	667,567	674,253	571,198	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
676,559	669,956	665,409	657,445	636,720	637,891	626,688	620,842	616,202	609,407	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of right of use assets - operating leases
2,390	2,412	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of right of use assets - operating leases
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment loss
0	22,272	32,453	32,453	32,453	10,181	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash compensation expense
43,433	40,958	41,670	42,318	40,395	40,117	39,801	39,367	39,331	35,361	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (Loss) from Equity Method Investments
46,010	46,592	52,833	49,169	1,974	2,222	1,114	6,270	8,609	11,232	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions of net cash flow from operations of unconsolidated joint ventures
20,422	17,155	19,485	8,930	8,506	6,703	22,283	25,616	25,844	26,858	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Losses (gains) from investments in securities
-1,997	6,417	921	1,890	1,230	-1,865	2,416	2,285	2,510	3,678	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash portion of interest expense
22,453	22,254	21,975	21,596	21,451	21,303	21,305	21,302	11,744	-1,284	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gains on sales of real estate
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Gains) losses on sales of real estate
421,417	858	64,800	73,969	90,904	190,716	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tenant and other receivables, net
-6,908	24,876	-6,949	15,322	7,586	-29,204	8,517	-33,412	-6,200	-2,433	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Note receivable, net
-1	-4	389	263	138	13	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued rental income, net
68,532	56,817	21,470	35,376	32,913	43,662	63,862	84,766	75,516	58,355	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Prepaid expenses and other assets
22,300	-2,965	-553	-7,794	-10,886	-12,472	-13,120	-10,561	-5,654	-51,425	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Lease liabilities - operating leases
-1,639	-1,616	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable and accrued expenses
-36,222	12,627	27,466	28,710	15,524	1,353	8,975	3,191	12,875	10,482	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued interest payable
-6,626	858	-9,727	-7,840	-7,322	5,237	-6,828	11,239	-170,903	-160,521	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other liabilities
-53,034	-49,569	-71,933	-37,119	-35,965	4,955	18,542	-278	-14,777	-44,970	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tenant leasing costs
-116,639	-117,282	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tenant leasing costs
-	-	-	-	-	-	-	-	-112,393	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total adjustments
33,799	519,443	522,655	467,784	487,318	419,933	426,056	440,449	223,652	340,781	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by operating activities
1,149,128	1,181,165	1,199,410	1,155,003	1,131,701	1,150,245	1,097,641	1,108,016	897,905	911,979	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition of real estate
105,970	149,031	148,912	43,061	43,061	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Construction in progress
603,588	546,060	554,677	517,485	630,363	694,791	686,510	691,222	603,946	608,404	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Building and other capital improvements
186,991	180,556	178,142	172,984	168,940	189,771	201,056	218,404	232,345	222,482	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tenant improvements
261,761	251,831	272,116	241,992	217,119	210,034	182,032	181,780	201,678	205,331	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sales of real estate
330,294	90,824	363,318	374,558	359,308	455,409	175,577	154,010	145,797	29,810	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capital contributions to unconsolidated joint ventures
150,394	87,392	97,141	330,535	323,889	345,717	333,216	132,774	139,858	109,015	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investments in securities, net
-1,954	2,132	2,078	1,458	1,469	902	979	997	1,026	1,669	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-865,369	-1,015,091	-815,275	-941,027	-1,138,603	-1,098,876	-1,308,216	-820,167	-798,009	-882,044	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of mortgage notes payable
44,740	46,173	19,467	19,144	18,946	18,634	18,440	18,137	1,317,948	1,317,653	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Borrowings on unsecured line of credit
595,000	380,000	545,000	780,000	535,000	745,000	690,000	495,000	665,000	580,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of unsecured line of credit
345,000	380,000	715,000	780,000	650,000	790,000	520,000	495,000	655,000	535,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on finance lease obligations
32	502	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on capital lease obligations
-	-	-	-	-	-	-	-	474	493	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on real estate financing transactions
-	-	-	-	-	960	2,494	2,787	2,804	2,840	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred financing costs
13,038	13,213	21,229	15,211	8,532	8,362	6,885	7,333	50,721	50,705	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net proceeds from equity transactions
15,267	13,710	2,165	2,215	1,785	-730	-333	-262	-299	241	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends and distributions
671,896	666,294	665,991	639,835	613,702	587,628	552,942	544,111	535,311	526,578	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contributions from noncontrolling interests in property partnerships
35,305	35,816	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions to noncontrolling interests in property partnerships
61,535	69,913	78,854	77,869	75,939	82,501	69,533	71,260	71,231	54,342	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition of noncontrolling interest in property partnership
-	-	-	-	-	0	0	0	59,131	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) financing activities
142,521	-113,379	-3,154	221,888	-15,929	82,453	57,525	-100,569	1,050	55,346	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net increase (decrease) in cash and cash equivalents and cash held in escrows
426,280	52,695	380,981	435,864	-22,831	133,822	-153,050	187,280	100,946	85,281	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for interest
446,661	439,059	450,849	439,875	433,701	416,019	424,500	403,339	595,124	598,486	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest capitalized
57,247	54,911	55,425	55,836	60,201	65,766	69,378	69,441	66,103	61,070	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Write-off of fully depreciated real estate
136,395	129,253	121,809	117,814	137,462	135,431	121,037	117,089	104,031	123,714	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in real estate included in accounts payable and accrued expenses
12,141	89,245	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Real estate acquired through capital leases
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued rental income, net deconsolidated
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Additions to real estate included in accounts payable and accrued expenses
-	-	-	-	-	-	-	-	18,515	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Real estate acquired through capital lease
-	-	-	-	-	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tenant leasing costs, net deconsolidated
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Building and other capital improvements, net deconsolidated
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tenant improvements, net deconsolidated
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investment in unconsolidated joint venture recorded upon deconsolidation
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Conversions of noncontrolling interests to stockholders’ equity
19,888	4,885	2,203	2,896	2,540	2,880	2,216	1,690	16,955	16,916	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance Of Restricted Units To Employees And Directors
43,298	37,622	38,633	38,633	38,047	37,052	37,620	37,386	37,830	35,989	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-