2021 Q1 Form 10-Q Financial Statement

#000165642321000013 Filed on May 07, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $713.7M $752.6M
YoY Change -5.16% 3.69%
Cost Of Revenue $262.9M $273.0M
YoY Change -3.7% 3371.96%
Gross Profit $443.9M $471.7M
YoY Change -5.87% 5.35%
Gross Profit Margin 62.2% 62.67%
Selling, General & Admin $45.00M $36.50M
YoY Change 23.29% -12.68%
% of Gross Profit 10.14% 7.74%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $176.6M $171.1M
YoY Change 3.2% 3.95%
% of Gross Profit 39.77% 36.28%
Operating Expenses $221.6M $207.6M
YoY Change 6.74% 0.63%
Operating Profit $222.3M $264.1M
YoY Change -15.79% 9.38%
Interest Expense $107.9M $101.6M
YoY Change 6.21% 0.58%
% of Operating Profit 48.53% 38.47%
Other Income/Expense, Net
YoY Change
Pretax Income $128.1M $577.1M
YoY Change -77.8% 339.86%
Income Tax
% Of Pretax Income
Net Earnings $100.6M $500.1M
YoY Change -79.89% 396.5%
Net Earnings / Revenue 14.1% 66.46%
Basic Earnings Per Share $0.59 $3.21
Diluted Earnings Per Share $0.59 $3.20
COMMON SHARES
Basic Shares Outstanding 155.9M shares 155.0M shares
Diluted Shares Outstanding 156.1M shares 155.3M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $736.4M $688.8M
YoY Change 6.9% 75.66%
Cash & Equivalents $697.4M $660.7M
Short-Term Investments $39.00M $28.10M
Other Short-Term Assets $129.0M $137.0M
YoY Change -5.84% 4.58%
Inventory
Prepaid Expenses
Receivables $51.00M $89.00M
Other Receivables $1.145B $1.060B
Total Short-Term Assets $2.022B $1.947B
YoY Change 3.85% 26.59%
LONG-TERM ASSETS
Property, Plant & Equipment $17.87B $17.52B
YoY Change 2.03% 2.34%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.347B $1.405B
YoY Change -4.13% 39.25%
Other Assets $874.0M $865.0M
YoY Change 1.04% 17.05%
Total Long-Term Assets $20.19B $19.88B
YoY Change 1.55% 4.85%
TOTAL ASSETS
Total Short-Term Assets $2.022B $1.947B
Total Long-Term Assets $20.19B $19.88B
Total Assets $22.21B $21.83B
YoY Change 1.76% 6.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $261.0M $294.0M
YoY Change -11.22% -10.64%
Accrued Expenses $277.0M $283.0M
YoY Change -2.12% -2.08%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $709.0M $748.0M
YoY Change -5.21% -4.47%
LONG-TERM LIABILITIES
Long-Term Debt $12.78B $12.29B
YoY Change 3.97% 9.92%
Other Long-Term Liabilities $608.0M $373.0M
YoY Change 63.0% 0.81%
Total Long-Term Liabilities $13.38B $12.66B
YoY Change 5.71% 9.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $709.0M $748.0M
Total Long-Term Liabilities $13.38B $12.66B
Total Liabilities $14.08B $13.40B
YoY Change 5.09% 8.69%
SHAREHOLDERS EQUITY
Retained Earnings -$571.0M -$416.7M
YoY Change 37.01% -42.76%
Common Stock $1.561M $1.553M
YoY Change 0.52% 0.52%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.722M $2.722M
YoY Change 0.0% 0.0%
Treasury Stock Shares 78.90K shares 78.90K shares
Shareholders Equity $5.776B $6.048B
YoY Change
Total Liabilities & Shareholders Equity $22.21B $21.83B
YoY Change 1.76% 6.48%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $100.6M $500.1M
YoY Change -79.89% 396.5%
Depreciation, Depletion And Amortization $176.6M $171.1M
YoY Change 3.2% 3.95%
Cash From Operating Activities $152.1M $175.2M
YoY Change -13.2% -15.46%
INVESTING ACTIVITIES
Capital Expenditures -$245.4M -$246.5M
YoY Change -0.45% 14.28%
Acquisitions
YoY Change
Other Investing Activities $3.100M $172.7M
YoY Change -98.2% -2286.08%
Cash From Investing Activities -$242.3M -$73.79M
YoY Change 228.31% -66.99%
FINANCING ACTIVITIES
Cash Dividend Paid $171.6M $172.0M
YoY Change -0.23% 3.37%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$679.9M $65.29M
YoY Change -1141.44% -134.25%
NET CHANGE
Cash From Operating Activities $152.1M $175.2M
Cash From Investing Activities -$242.3M -$73.79M
Cash From Financing Activities -$679.9M $65.29M
Net Change In Cash -$770.1M $166.7M
YoY Change -562.02% -180.57%
FREE CASH FLOW
Cash From Operating Activities $152.1M $175.2M
Capital Expenditures -$245.4M -$246.5M
Free Cash Flow $397.5M $421.7M
YoY Change -5.75% -0.29%

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CY2021Q1 bxp Writeoffoffullydepreciatedrealestate
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25161000 USD
CY2020Q1 bxp Writeoffoffullydepreciatedrealestate
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CY2021Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2021Q1 bxp Preferred Stock Redemption Liability
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200000000 USD
CY2020Q1 bxp Preferred Stock Redemption Liability
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CY2021Q1 bxp Accruedrentalincomenetdeconsolidated
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CY2020Q1 bxp Accruedrentalincomenetdeconsolidated
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CY2021Q1 bxp Transfer Of Tenant Lease Costs Real Estate
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CY2020Q1 bxp Transfer Of Tenant Lease Costs Real Estate
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CY2020Q1 us-gaap Transfer Of Other Real Estate
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111889000 USD
CY2021Q1 bxp Transfer Of Tenant Improvements Real Estate
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0 USD
CY2020Q1 bxp Transfer Of Tenant Improvements Real Estate
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12331000 USD
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CY2020Q1 us-gaap Transfer To Investments
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CY2020Q1 bxp Deferred Proceeds From Sale Of Investment In Unconsolidated Joint Venture
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171003000 USD
CY2020Q1 us-gaap Dividends Payable Current And Noncurrent
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CY2020Q1 bxp Conversions Of Noncontrolling Interests To Stockholders Equity
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CY2020Q1 bxp Issuance Of Restricted Securities To Employees And Directors
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CY2021Q1 us-gaap Limited Liability Company Llc Or Limited Partnership Lp Managing Member Or General Partner Ownership Interest
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0.899
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CY2021Q1 bxp Restriction On Redemption Of Op Units From Date Of Issuance In Years
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CY2021Q1 bxp Common Stock Conversion Rate
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CY2020Q4 bxp Number Of Series Of Preferred Units Outstanding
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CY2021Q1 us-gaap Use Of Estimates
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The Company bases its estimates on historical experience and on various other assumptions that it considers to be reasonable under the circumstances, including the impact of extraordinary events such as the novel coronavirus (“COVID-19”) pandemic, the results of which form the basis for making significant judgments about the carrying values of assets and liabilities, assessments of future collectability, and other areas of the financial statements that are impacted by the use of estimates. Actual results may differ from these estimates under different assumptions or conditions.
CY2021Q1 bxp Numberof Vi Es
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CY2021Q1 bxp Numberof Vi Es Total
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CY2021Q1 bxp Numberof Vi Es
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CY2021Q1 us-gaap Land
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421349000 USD
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450954000 USD
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14004418000 USD
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13777691000 USD
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2816726000 USD
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2752880000 USD
CY2021Q1 us-gaap Furniture And Fixtures Gross
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51549000 USD
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49606000 USD
CY2021Q1 us-gaap Construction In Progress Gross
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794039000 USD
CY2020Q4 us-gaap Construction In Progress Gross
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868773000 USD
CY2021Q1 bxp Real Estate Investment Property At Cost Including Rightof Use Assets
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23538084000 USD
CY2020Q4 bxp Real Estate Investment Property At Cost Including Rightof Use Assets
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23352909000 USD
CY2021Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
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5665061000 USD
CY2020Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
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5534102000 USD
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17873023000 USD
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CY2021Q1 us-gaap Allowance For Loan And Lease Losses Write Offs
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CY2020Q1 us-gaap Allowance For Loan And Lease Losses Write Offs
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1200000 USD
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
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200000 USD
CY2020Q1 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
300000 USD
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575353000 USD
CY2020Q1 us-gaap Operating Lease Lease Income Lease Payments
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586957000 USD
CY2021Q1 us-gaap Operating Lease Variable Lease Income
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110464000 USD
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123154000 USD
CY2021Q1 us-gaap Operating Lease Lease Income
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685817000 USD
CY2020Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
710111000 USD
CY2021Q1 bxp Investments In Affiliates Subsidiaries Associates And Joint Venturesnet
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVenturesnet
1272076000 USD
CY2020Q4 bxp Investments In Affiliates Subsidiaries Associates And Joint Venturesnet
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVenturesnet
1273919000 USD
CY2021Q1 bxp Schedule Of Statements Of Operations Of Unconsolidated Joint Ventures Text Bock
ScheduleOfStatementsOfOperationsOfUnconsolidatedJointVenturesTextBock
<div style="margin-top:14pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The combined summarized statements of operations of the Company’s unconsolidated joint ventures are as follows:</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:5pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:100.000%"><tr><td style="width:1.0%"/><td style="width:68.929%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.081%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:1.408%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:13.082%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </span></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Three months ended March 31,</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </span></td><td colspan="9" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(in thousands)</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total revenue (1)</span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">87,266 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">93,203 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Expenses</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Operating</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">37,134 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">35,401 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Transaction costs</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Depreciation and amortization</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">34,103 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">32,035 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total expenses</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">71,244 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">67,436 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other income (expense)</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Interest expense</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(25,556)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(22,583)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net income (loss)</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(9,534)</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,184 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000000;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000000;padding:0 1pt"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Company’s share of net income (loss)</span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,640)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,252 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gain on sale of investment (2)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,257 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Basis differential (3)</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,392)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,621)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Income (loss) from unconsolidated joint ventures</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,225 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(369)</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">_______________ </span></div><div style="padding-left:27pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:7.02pt">Includes straight-line rent adjustments of approximately $1.1 million and $9.7 million for the three months ended March 31, 2021 and 2020, respectively. For the three months ended March 31, 2021, write-offs of accounts receivable and accrued rent balances totaled approximately $0.3 million.</span></div><div style="padding-left:27pt;text-indent:-18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:7.02pt">During the three months ended March 31, 2021, the Company completed the sale of its 50% ownership interest in Annapolis Junction NFM LLC. The Company recognized a gain on sale of investment of approximately $10.3 million.</span></div>(3)Includes straight-line rent adjustments of approximately $0.5 million and $0.5 million for the three months ended March 31, 2021 and 2020, respectively. Also includes net above-/below-market rent adjustments of approximately $0.1 million and $0.3 million for the three months ended March 31, 2021 and 2020, respectively.
CY2021Q1 us-gaap Line Of Credit Facility Covenant Terms
LineOfCreditFacilityCovenantTerms
Among other covenants, the 2017 Credit Facility requires that Boston Properties Limited Partnership maintain on an ongoing basis: (1) a leverage ratio not to exceed 60%, however, the leverage ratio may increase to no greater than 65% provided that it is reduced back to 60% within one year, (2) a secured debt leverage ratio not to exceed 55%, (3) a fixed charge coverage ratio of at least 1.40, (4) an unsecured debt leverage ratio not to exceed 60%, however, the unsecured debt leverage ratio may increase to no greater than 65% provided that it is reduced to 60% within one year, (5) an unsecured debt interest coverage ratio of at least 1.75 and (6) limitations on permitted investments.
CY2021Q1 bxp Letter Of Credit And Performance Obligation
LetterOfCreditAndPerformanceObligation
20200000 USD
CY2021Q1 bxp Insurance Policy Limit
InsurancePolicyLimit
1000000000.0 USD
CY2021Q1 bxp Insurance Policy Limit
InsurancePolicyLimit
1000000000.0 USD
CY2021Q1 bxp Per Occurrence Limit For Nbcr Coverage
PerOccurrenceLimitForNbcrCoverage
1000000000.0 USD
CY2021Q1 bxp Program Trigger Value
ProgramTriggerValue
200000000 USD
CY2021Q1 bxp Program Trigger Coinsurance
ProgramTriggerCoinsurance
0.20
CY2021Q1 bxp Programtriggerdeductible
Programtriggerdeductible
0.20
CY2021Q1 bxp Earthquake Deductible Insurance Percentage Of Value Of The Affected Property San Franciscoand Los Angeles
EarthquakeDeductibleInsurancePercentageOfValueOfTheAffectedPropertySanFranciscoandLosAngeles
0.03
CY2021Q1 bxp Per Occurrence Limit Of Earth Quake Insurance San Franciscoand Los Angeles
PerOccurrenceLimitOfEarthQuakeInsuranceSanFranciscoandLosAngeles
240000000 USD
CY2021Q1 bxp Annual Aggregate Limit Of Earth Quake Insurance San Franciscoand Los Angeles
AnnualAggregateLimitOfEarthQuakeInsuranceSanFranciscoandLosAngeles
240000000 USD
CY2021Q1 bxp Amount Of Earthquake Insurance Provided By Ixpllc As Direct Insurer San Franciscoand Los Angeles
AmountOfEarthquakeInsuranceProvidedByIXPLLCAsDirectInsurerSanFranciscoandLosAngeles
20000000 USD
CY2020Q4 us-gaap Minority Interest In Limited Partnerships
MinorityInterestInLimitedPartnerships
1700000000 USD
CY2021Q1 us-gaap Minority Interest In Limited Partnerships
MinorityInterestInLimitedPartnerships
1700000000 USD
CY2020Q1 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
300000 USD
CY2021Q1 bxp Rental Revenue Class Office
RentalRevenueClassOffice
693580000 USD
CY2021Q1 bxp Rental Revenue Residential
RentalRevenueResidential
9175000 USD
CY2021Q1 bxp Rental Revenue Total
RentalRevenueTotal
703387000 USD
CY2021Q1 bxp Percentage Of Total Revenue
PercentageOfTotalRevenue
1.0000
CY2021Q1 bxp Rental Expenses Class Office
RentalExpensesClassOffice
251262000 USD
CY2021Q1 bxp Rental Expenses Residential
RentalExpensesResidential
6127000 USD
CY2021Q1 bxp Rental Expenses Operating Expenses Total
RentalExpensesOperatingExpensesTotal
259440000 USD
CY2021Q1 bxp Percentage Of Total Rental Expenses
PercentageOfTotalRentalExpenses
1.0000
CY2021Q1 us-gaap Gross Profit
GrossProfit
443947000 USD
CY2021Q1 bxp Percentage Of Total Net Operating Income
PercentageOfTotalNetOperatingIncome
1.0000
CY2021Q1 bxp Percentageof Companys Shareof Net Operating Income
PercentageofCompanysShareofNetOperatingIncome
1.0000
CY2021Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
156074200 shares
CY2021Q1 us-gaap General Partners Capital Account Units Outstanding
GeneralPartnersCapitalAccountUnitsOutstanding
1736531 shares
CY2021Q1 us-gaap Limited Partners Capital Account Units Outstanding
LimitedPartnersCapitalAccountUnitsOutstanding
154337669 shares
CY2021Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
206377 shares
CY2021Q1 us-gaap Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
118290 shares
CY2021Q1 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
0.98
CY2021Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.98
CY2020Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.98
CY2020Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.98
CY2021Q1 us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
600000 USD
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
200000 USD
CY2020Q1 us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
1200000 USD
CY2020Q1 bxp Rental Revenue Residential
RentalRevenueResidential
9956000 USD
CY2020Q1 bxp Rental Revenue Total
RentalRevenueTotal
741440000 USD
CY2020Q1 bxp Percentage Of Total Revenue
PercentageOfTotalRevenue
1.0000
CY2020Q1 bxp Rental Revenue Class Office
RentalRevenueClassOffice
724659000 USD
CY2020Q1 us-gaap Dilutive Securities
DilutiveSecurities
0 USD
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
156099000 shares
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.59
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
497496000 USD
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
155011000 shares
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.21
CY2020Q1 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
1011000 USD
CY2020Q1 bxp Allocationofundistributedearningstoparticipatingsecuritiesinshares
Allocationofundistributedearningstoparticipatingsecuritiesinshares
0 shares
CY2020Q1 bxp Allocationofundistributedearningstoparticipatingsecuritiespershares
Allocationofundistributedearningstoparticipatingsecuritiespershares
-0.01
CY2020Q1 bxp Net Income Loss Available To Common Stockholders After Allocationof Undistributed Earningsto Participating Securities Basic
NetIncomeLossAvailableToCommonStockholdersAfterAllocationofUndistributedEarningstoParticipatingSecuritiesBasic
496485000 USD
CY2020Q1 bxp Weighted Average Number Of Shares Outstanding After Allocationof Undistributed Earningsto Participating Securities Basicinshares
WeightedAverageNumberOfSharesOutstandingAfterAllocationofUndistributedEarningstoParticipatingSecuritiesBasicinshares
155011000 shares
CY2020Q1 bxp Earnings Per Share After Allccationof Undistributed Earningsto Particiapting Securities Basicdollarspershare
EarningsPerShareAfterAllccationofUndistributedEarningstoParticiaptingSecuritiesBasicdollarspershare
3.20
CY2020Q1 bxp Rental Expenses Class Office
RentalExpensesClassOffice
258902000 USD
CY2020Q1 bxp Rental Expenses Residential
RentalExpensesResidential
4064000 USD
CY2020Q1 bxp Rental Expenses Operating Expenses Total
RentalExpensesOperatingExpensesTotal
269787000 USD
CY2020Q1 bxp Percentage Of Total Rental Expenses
PercentageOfTotalRentalExpenses
1.0000
CY2020Q1 us-gaap Gross Profit
GrossProfit
471653000 USD
CY2020Q1 bxp Percentage Of Total Net Operating Income
PercentageOfTotalNetOperatingIncome
1.0000
CY2020Q1 bxp Percentageof Companys Shareof Net Operating Income
PercentageofCompanysShareofNetOperatingIncome
1.0000
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
91624000 USD
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
155928000 shares
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.59
CY2021Q1 us-gaap Dilutive Securities
DilutiveSecurities
0 USD
CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
171000 shares
CY2021Q1 bxp Weighted Average Number Diluted Shares Outstanding Adjustmentpershare
WeightedAverageNumberDilutedSharesOutstandingAdjustmentpershare
0
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
91624000 USD
CY2020Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
247000 shares
CY2020Q1 bxp Weighted Average Number Diluted Shares Outstanding Adjustmentpershare
WeightedAverageNumberDilutedSharesOutstandingAdjustmentpershare
0
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
496485000 USD
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
155258000 shares
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.20
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
19800000 USD
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17200000 USD

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