BXP, Inc.

BXP 10-K · Q4 2025

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Income Statement

Income Statement
Metric Q4 2025 Q4 2024 YoY
Operating Lease Lease Income (Q) — — —
Show — breakouts
Operating Lease Lease Income 809,150 798,189 +1.4%
Show Legal Entity breakouts
Boston Properties Limited Partnership 809,150 798,189 +1.4%
Revenue From Contract With Customer Including Assessed Tax (Q) — — —
Show Product Lines breakouts
Hotel 12,464 13,144 -5.2%
Hotel · Boston [Member] 12,464 13,144 -5.2%
Hotel · Boston Properties Limited Partnership 12,464 13,144 -5.2%
Management Service 8,641 8,784 -1.6%
Management Service · Boston Properties Limited Partnership 8,641 8,784 -1.6%
Management Service · Boston Properties Limited Partnership 8,641 8,784 -1.6%
Management Service · Material Reconciling Items 8,641 8,784 -1.6%
Parking and Other [Member] 42,883 34,056 +25.9%
Parking and Other [Member] · Boston Properties Limited Partnership 42,883 34,056 +25.9%
Real Estate Other 3,959 4,398 -10.0%
Real Estate Other · Boston Properties Limited Partnership 3,959 4,398 -10.0%
Show Legal Entity breakouts
Boston Properties Limited Partnership · Material Reconciling Items 3,959 4,398 -10.0%
Show Consolidation Items breakouts
Material Reconciling Items 3,959 4,398 -10.0%
Revenue (Q) — — —
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Revenue 877,097 858,571 +2.2%
Show Legal Entity breakouts
Boston Properties Limited Partnership 877,097 858,571 +2.2%
Unconsolidated Joint Ventures [Member] 123,670 128,697 -3.9%
Direct Costs Of Leased And Rented Property Or Equipment (Q) — — —
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Direct Costs Of Leased And Rented Property Or Equipment 339,693 323,358 +5.1%
Show Legal Entity breakouts
Boston Properties Limited Partnership 339,693 323,358 +5.1%
Cost of Revenue (Q) — — —
Show Product Lines breakouts
Hotel 9,041 9,601 -5.8%
Hotel · Boston [Member] 9,041 9,601 -5.8%
Hotel · Boston Properties Limited Partnership 9,041 9,601 -5.8%
Real Estate Other 3,959 4,398 -10.0%
Real Estate Other · Boston Properties Limited Partnership 3,959 4,398 -10.0%
Show Legal Entity breakouts
Boston Properties Limited Partnership · Material Reconciling Items -3,959 -4,398 +10.0%
Show Consolidation Items breakouts
Material Reconciling Items -3,959 -4,398 +10.0%
General & Administrative (Q) — — —
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General & Administrative 37,801 32,504 +16.3%
Show Legal Entity breakouts
Boston Properties Limited Partnership 37,801 32,504 +16.3%
Boston Properties Limited Partnership · Material Reconciling Items -37,801 -32,504 -16.3%
Show Consolidation Items breakouts
Material Reconciling Items -37,801 -32,504 -16.3%
Other Cost And Expense Operating (Q) — — —
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Other Cost And Expense Operating 122 707 -82.7%
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Boston Properties Limited Partnership 122 707 -82.7%
Boston Properties Limited Partnership · Material Reconciling Items -122 -707 +82.7%
Unconsolidated Joint Ventures [Member] 60 395 -84.8%
Show Consolidation Items breakouts
Material Reconciling Items -122 -707 +82.7%
Depreciation And Amortization (Q) — — —
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Depreciation And Amortization 232,015 226,043 +2.6%
Show Legal Entity breakouts
Boston Properties Limited Partnership 230,337 224,339 +2.7%
Boston Properties Limited Partnership · Material Reconciling Items -230,337 -224,339 -2.7%
Unconsolidated Joint Ventures [Member] 41,370 41,855 -1.2%
Unconsolidated Joint Ventures [Member] · Basis Differential -4.4 8.6 -151.2%
Show Consolidation Items breakouts
Material Reconciling Items -232,015 -226,043 -2.6%
Total Costs & Expenses (Q) — — —
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Total Costs & Expenses 622,631 596,611 +4.4%
Show Legal Entity breakouts
Boston Properties Limited Partnership 620,953 594,907 +4.4%
Unconsolidated Joint Ventures [Member] 99,000 97,946 +1.1%
Income Loss From Equity Method Investments (Q) — — —
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Income Loss From Equity Method Investments 50,232 -349,553 +114.4%
Show Legal Entity breakouts
Boston Properties Limited Partnership 50,232 -349,553 +114.4%
Boston Properties Limited Partnership · Material Reconciling Items -257,352 -336,801 +23.6%
Unconsolidated Joint Ventures [Member] 50,232 -349,553 +114.4%
Show Consolidation Items breakouts
Material Reconciling Items -257,352 -336,801 +23.6%
Gain Loss On Disposition Of Assets (Q) — — —
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Gain Loss On Disposition Of Assets 156,410 85 +183911.8%
Show Legal Entity breakouts
Boston Properties Limited Partnership 158,901 85 +186842.4%
Boston Properties Limited Partnership · Material Reconciling Items 158,901 85 +186842.4%
Show Consolidation Items breakouts
Material Reconciling Items 156,410 85 +183911.8%
Interest And Other Income (Q) — — —
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Interest And Other Income 12,351 20,452 -39.6%
Show Legal Entity breakouts
Boston Properties Limited Partnership 12,351 20,452 -39.6%
Boston Properties Limited Partnership · Material Reconciling Items 12,351 20,452 -39.6%
Show Consolidation Items breakouts
Material Reconciling Items 12,351 20,452 -39.6%
Gain Loss On Investments (Q) — — —
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Gain Loss On Investments 846 -369 +329.3%
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Boston Properties Limited Partnership 846 -369 +329.3%
Boston Properties Limited Partnership · Material Reconciling Items 846 -369 +329.3%
Show Consolidation Items breakouts
Material Reconciling Items 846 -369 +329.3%
Other Nonoperating Gains Losses (Q) — — —
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Other Nonoperating Gains Losses -2 -2 0.0%
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Boston Properties Limited Partnership -2 -2 0.0%
Impairment Of Real Estate (Q) — — —
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Impairment Of Real Estate -16,902 0 —
Show Legal Entity breakouts
Boston Properties Limited Partnership -16,902 0 —
Interest Expense (Q) — — —
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Interest Expense -162,612 -170,390 +4.6%
Show Legal Entity breakouts
Boston Properties Limited Partnership -162,612 -170,390 +4.6%
Boston Properties Limited Partnership · Material Reconciling Items 162,612 170,390 -4.6%
Unconsolidated Joint Ventures [Member] -36,177 -44,888 +19.4%
Show Consolidation Items breakouts
Material Reconciling Items 162,612 170,390 -4.6%
Net Income (Q) — — —
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Net Income 294,789 -237,817 +224.0%
Show Legal Entity breakouts
Boston Properties Limited Partnership 298,958 -236,113 +226.6%
Boston Properties Limited Partnership · Material Reconciling Items 298,958 -236,113 +226.6%
Unconsolidated Joint Ventures [Member] -688,503 -355 -193844.5%
Show Consolidation Items breakouts
Material Reconciling Items 294,789 -237,817 +224.0%
Noncontrolling Interest In Net Income Loss Limited Partnerships Nonredeemable (Q) — — —
Show — breakouts
Noncontrolling Interest In Net Income Loss Limited Partnerships Nonredeemable -18,479 -17,233 -7.2%
Show Legal Entity breakouts
Boston Properties Limited Partnership -18,479 -17,233 -7.2%
Boston Properties Limited Partnership · Material Reconciling Items -18,479 -17,233 -7.2%
Show Consolidation Items breakouts
Material Reconciling Items -18,479 -17,233 -7.2%
Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable (Q) — — —
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Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable -27,960 26,196 -206.7%
Show Consolidation Items breakouts
Material Reconciling Items -27,960 26,196 -206.7%
Net Income (Q) — — —
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Net Income 248,350 -228,854 +208.5%
Show Legal Entity breakouts
Boston Properties Limited Partnership 280,479 -253,346 +210.7%
Earnings Per Share After Allocation Of Undistributed Earnings To Participating Securities Basic Dollars Per Share (Q) — — —
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Earnings Per Share After Allocation Of Undistributed Earnings To Participating Securities Basic Dollars Per Share 1.57 -1.46 +207.5%
Show Legal Entity breakouts
Boston Properties Limited Partnership 1.6 -1.45 +210.3%
Wtd Avg Shares (Basic) (Q) — — —
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Wtd Avg Shares (Basic) 43 218 -80.3%
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Boston Properties Limited Partnership 16 21 -23.8%
EPS (Diluted) (Q) — — —
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EPS (Diluted) 1.56 -1.45 +207.6%
Show Legal Entity breakouts
Boston Properties Limited Partnership 1.59 -1.45 +209.7%
Wtd Avg Shares (Diluted) (Q) — — —
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Wtd Avg Shares (Diluted) 82 246 -66.7%
Show Legal Entity breakouts
Boston Properties Limited Partnership 55 49 +12.2%
Gross Profit (Q) — — —
Show Geography breakouts
Boston [Member] 196,320 193,854 +1.3%
Boston [Member] · Company's Share [Member] 188,704 188,921 -0.1%
Boston [Member] · Noncontrolling interest - property partnerships [Member] -16,466 -13,684 -20.3%
Boston [Member] · Unconsolidated Joint Ventures [Member] 8,850 8,751 +1.1%
DC 70,962 68,937 +2.9%
DC · Company's Share [Member] 77,233 75,184 +2.7%
DC · Unconsolidated Joint Ventures [Member] 6,271 6,247 +0.4%
Los Angeles [Member] 10,954 10,960 -0.1%
Los Angeles [Member] · Company's Share [Member] 18,054 17,209 +4.9%
Los Angeles [Member] · Unconsolidated Joint Ventures [Member] 7,100 6,249 +13.6%
NY 149,264 151,327 -1.4%
NY · Company's Share [Member] 114,471 119,750 -4.4%
NY · Noncontrolling interest - property partnerships [Member] -35,199 -34,575 -1.8%
NY · Unconsolidated Joint Ventures [Member] 406 2,998 -86.5%
San Francisco [Member] 80,696 78,940 +2.2%
San Francisco [Member] · Company's Share [Member] 84,308 83,402 +1.1%
San Francisco [Member] · Unconsolidated Joint Ventures [Member] 3,612 4,462 -19.0%
Seattle 7,567 8,412 -10.0%
Seattle · Company's Share [Member] 9,511 10,487 -9.3%
Seattle · Unconsolidated Joint Ventures [Member] 1,944 2,075 -6.3%
Show Equity Components breakouts
Noncontrolling interest - property partnerships [Member] -51,665 -48,259 -7.1%
Noncontrolling interest - property partnerships [Member] · Boston Properties Limited Partnership 51,665 48,259 +7.1%
Show — breakouts
Gross Profit 515,763 512,430 +0.7%
Show Legal Entity breakouts
Unconsolidated Joint Ventures [Member] 28,183 30,782 -8.4%
Unconsolidated Joint Ventures [Member] · Material Reconciling Items 28,183 30,782 -8.4%
Show Ownership breakouts
Company's Share [Member] 492,281 494,953 -0.5%
Operating Expenses (Q) — — —
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Unconsolidated Joint Ventures [Member] 57,570 55,696 +3.4%
Comprehensive Income (Q) — — —
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Comprehensive Income 250,260 -204,499 +222.4%
Show Legal Entity breakouts
Boston Properties Limited Partnership 282,602 -226,212 +224.9%
EPS (Basic) (Q) — — —
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EPS (Basic) 1.57 -1.46 +207.5%
Show Legal Entity breakouts
Boston Properties Limited Partnership 1.6 -1.45 +210.3%
Net Income Loss Attributable To Noncontrolling Interest (Q) — — —
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Net Income Loss Attributable To Noncontrolling Interest -46,439 8,963 -618.1%
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax (Q) — — —
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Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax 591 24,178 -97.6%
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Boston Properties Limited Partnership 591 24,178 -97.6%
Net Income Loss Available To Common Stockholders Basic (Q) — — —
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Net Income Loss Available To Common Stockholders Basic 248,350 -228,854 +208.5%
Show Legal Entity breakouts
Boston Properties Limited Partnership 280,479 -253,346 +210.7%
Boston Properties Limited Partnership · Material Reconciling Items 280,479 -253,346 +210.7%
Show Consolidation Items breakouts
Material Reconciling Items 248,350 -228,854 +208.5%

Balance Sheet

Balance Sheet
Metric Q4 2025 Q4 2024 YoY
Current Assets
Cash & Cash Equivalents (Q) — — —
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Cash & Cash Equivalents 1,478,206 1,254,882 +17.8%
Show Legal Entity breakouts
Boston Properties Limited Partnership 1,478,206 1,254,882 +17.8%
Boston Properties Limited Partnership · Variable Interest Entity Primary Beneficiary 255,631 373,737 -31.6%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 255,631 373,737 -31.6%
Sales Type Lease Net Investment In Lease After Allowance For Credit Loss Current (Q) — — —
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Sales Type Lease Net Investment In Lease After Allowance For Credit Loss Current 15,672 14,657 +6.9%
Show Legal Entity breakouts
Boston Properties Limited Partnership 15,672 14,657 +6.9%
Show Fair Value By Measurement Basis breakouts
Carrying Reported Amount Fair Value Disclosure 15,672 14,657 +6.9%
Estimate Of Fair Value Fair Value Disclosure 13,911 13,632 +2.0%
Non-Current Assets
Operating Lease Right-of-Use Assets (Q) — — —
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Operating Lease Right-of-Use Assets 325,841 334,767 -2.7%
Show Legal Entity breakouts
Boston Properties Limited Partnership 325,841 334,767 -2.7%
Boston Properties Limited Partnership · Land And Land Improvements 325,841 — —
Boston Properties Limited Partnership · Variable Interest Entity Primary Beneficiary 0 140,558 -100.0%
Unconsolidated Joint Ventures [Member] 17.9 19 -5.8%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 0 140,558 -100.0%
Show Property Plant And Equipment By Type breakouts
Land And Land Improvements 325,841 — —
Total Assets (Q) — — —
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Total Assets 26,166,164 26,084,980 +0.3%
Show Legal Entity breakouts
Boston Properties Limited Partnership 25,942,364 25,848,890 +0.4%
Unconsolidated Joint Ventures [Member] 5,458,834 6,451,294 -15.4%
Other Assets
Real Estate Investment Property At Cost (Q) — — —
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Real Estate Investment Property At Cost 28,241,879 27,870,623 +1.3%
Show Legal Entity breakouts
Boston Properties Limited Partnership 27,884,397 27,504,358 +1.4%
Boston Properties Limited Partnership · Variable Interest Entity Primary Beneficiary 8,005,124 7,797,430 +2.7%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 8,005,124 7,797,430 +2.7%
Finance Lease Right Of Use Asset Before Accumulated Amortization (Q) — — —
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Finance Lease Right Of Use Asset Before Accumulated Amortization 372,470 372,922 -0.1%
Show Legal Entity breakouts
Boston Properties Limited Partnership 372,470 372,922 -0.1%
Boston Properties Limited Partnership · Variable Interest Entity Primary Beneficiary 21,000 21,000 0.0%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 21,000 21,000 0.0%
Real Estate Investment Property Accumulated Depreciation (Q) — — —
Show — breakouts
Real Estate Investment Property Accumulated Depreciation -8,040,311 -7,528,057 -6.8%
Show Legal Entity breakouts
Boston Properties Limited Partnership -7,906,629 -7,397,882 -6.9%
Boston Properties Limited Partnership · Variable Interest Entity Primary Beneficiary -1,763,988 -1,628,274 -8.3%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary -1,763,988 -1,628,274 -8.3%
Real Estate Investment Property Net (Q) — — —
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Real Estate Investment Property Net 20,899,879 21,050,255 -0.7%
Show Legal Entity breakouts
Boston Properties Limited Partnership 20,676,079 20,814,165 -0.7%
Unconsolidated Joint Ventures [Member] 4,786,058 5,748,198 -16.7%
Restricted Cash And Cash Equivalents At Carrying Value (Q) — — —
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Restricted Cash And Cash Equivalents At Carrying Value 79,060 80,314 -1.6%
Show Legal Entity breakouts
Boston Properties Limited Partnership 79,060 80,314 -1.6%
Boston Properties Limited Partnership · Variable Interest Entity Primary Beneficiary 10,319 4,979 +107.3%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 10,319 4,979 +107.3%
Marketable Securities (Q) — — —
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Marketable Securities 44,614 39,706 +12.4%
Show Legal Entity breakouts
Boston Properties Limited Partnership 44,614 39,706 +12.4%
Accounts Receivable Net (Q) — — —
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Accounts Receivable Net 92,625 107,453 -13.8%
Show Legal Entity breakouts
Boston Properties Limited Partnership 92,625 107,453 -13.8%
Boston Properties Limited Partnership · Variable Interest Entity Primary Beneficiary 30,989 20,435 +51.6%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 30,989 20,435 +51.6%
Notes Receivable Net (Q) — — —
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Boston Properties Limited Partnership · Nonrelated Party 9,373 4,947 +89.5%
Boston Properties Limited Partnership · Related Party 28,346 88,779 -68.1%
Show Fair Value By Measurement Basis breakouts
Carrying Reported Amount Fair Value Disclosure · Related Party 28,346 88,779 -68.1%
Estimate Of Fair Value Fair Value Disclosure · Related Party 28,716 89,213 -67.8%
Show Related Party Transactions By Related Party breakouts
Nonrelated Party 9,373 4,947 +89.5%
Related Party 28,346 88,779 -68.1%
Deferred Rent Receivables Net (Q) — — —
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Deferred Rent Receivables Net 1,538,515 1,466,220 +4.9%
Show Legal Entity breakouts
Boston Properties Limited Partnership 1,538,515 1,466,220 +4.9%
Boston Properties Limited Partnership · Variable Interest Entity Primary Beneficiary 470,734 435,110 +8.2%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 470,734 435,110 +8.2%
Deferred Costs (Q) — — —
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Deferred Costs 847,690 813,345 +4.2%
Show Legal Entity breakouts
Boston Properties Limited Partnership 847,690 813,345 +4.2%
Boston Properties Limited Partnership · Variable Interest Entity Primary Beneficiary 204,924 211,726 -3.2%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 204,924 211,726 -3.2%
Prepaid Expense And Other Assets (Q) — — —
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Prepaid Expense And Other Assets 108,105 70,839 +52.6%
Show Legal Entity breakouts
Boston Properties Limited Partnership 108,105 70,839 +52.6%
Boston Properties Limited Partnership · Variable Interest Entity Primary Beneficiary 14,509 15,036 -3.5%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 14,509 15,036 -3.5%
Show Investment Type breakouts
Environmental Focused Investment Fund 10.9 7.1 +53.5%
Investments In Affiliates Subsidiaries Associates And Joint Ventures (Q) — — —
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Investments In Affiliates Subsidiaries Associates And Joint Ventures 999,309 1,093,583 -8.6%
Show Legal Entity breakouts
Boston Properties Limited Partnership 999,309 1,093,583 -8.6%
Unconsolidated Joint Ventures [Member] 983,710 1,060,074 -7.2%
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
1265 Main Office JV LLC [Member] 3,091 3,476 -11.1%
17 Hartwell Avenue JV LLC 10,567 — —
200 Fifth Avenue JV LLC 74,747 70,673 +5.8%
360 PAS Holdco LLC 104,778 74,592 +40.5%
501 K Street LLC [Member] 45,724 45,903 -0.4%
7750 Wisconsin Avenue LLC [Member] 47,144 48,423 -2.6%
ABXP Worldgate Investments LLC 21,995 18,225 +20.7%
BNY Tower Holdings LLC [Member] 83,547 — —
BP-M 3HB Venture LLC 109,451 112,771 -2.9%
CA-Colorado Center LLC[Member] 69,959 65,000 +7.6%
CAB 290 Coles Holdco LLC 30,362 — —
CAB 290 Coles Venture LLC 19,928 — —
Gateway Commons Complex [Member] 125,576 272,000 -53.8%
Hotel Tower Developer LLC [Member] 12,021 14,271 -15.8%
Office Venture LLC 48,924 55,810 -12.3%
Platform 16 58,561 56,265 +4.1%
Podium Venture LLC [Member] 54,742 42,310 +29.4%
PR II BXP Reston Gateway LLC 14,506 14,844 -2.3%
Residential Tower Developer LLC [Member] 33,942 42,493 -20.1%
Rosecrans-Sepulveda Partners 4, LLC 272 27,051 -99.0%
WP Project Developer LLC [Member] 29,085 29,775 -2.3%
Real Estate Heldforsale (Q) — — —
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Real Estate Heldforsale 24,770 — —
Show Legal Entity breakouts
Boston Properties Limited Partnership 24,770 — —
Current Liabilities
Commercial Paper (Q) — — —
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Commercial Paper 750,000 500,000 +50.0%
Show Legal Entity breakouts
Boston Properties Limited Partnership 750,000 500,000 +50.0%
Show Cash And Cash Equivalents breakouts
Commercial Paper 750 — —
Show Fair Value By Measurement Basis breakouts
Carrying Reported Amount Fair Value Disclosure 750,000 500,000 +50.0%
Estimate Of Fair Value Fair Value Disclosure 750,000 500,000 +50.0%
Non-Current Liabilities
Accounts Payable And Accrued Liabilities Current And Noncurrent (Q) — — —
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Accounts Payable And Accrued Liabilities Current And Noncurrent 480,017 401,874 +19.4%
Show Legal Entity breakouts
Boston Properties Limited Partnership 480,017 401,874 +19.4%
Boston Properties Limited Partnership · Variable Interest Entity Primary Beneficiary 88,849 115,808 -23.3%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 88,849 115,808 -23.3%
Show Related Party Transactions By Related Party breakouts
Related Party 0.8 0.7 +14.3%
Dividends Payable Current And Noncurrent (Q) — — —
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Dividends Payable Current And Noncurrent 123,753 172,486 -28.3%
Show Legal Entity breakouts
Boston Properties Limited Partnership 123,753 172,486 -28.3%
Interest Payable Current And Noncurrent (Q) — — —
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Interest Payable Current And Noncurrent 125,345 128,098 -2.1%
Show Legal Entity breakouts
Boston Properties Limited Partnership 125,345 128,098 -2.1%
Total Liabilities (Q) — — —
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Total Liabilities 18,473,924 18,137,324 +1.9%
Show Legal Entity breakouts
Boston Properties Limited Partnership 18,473,924 18,137,324 +1.9%
Long-Term Debt (Q) — — —
Show Fair Value By Measurement Basis breakouts
Carrying Reported Amount Fair Value Disclosure 16,609,483 16,220,499 +2.4%
Estimate Of Fair Value Fair Value Disclosure 16,079,427 15,113,281 +6.4%
Show Long-Term Debt Type breakouts
Mortgages 4,298,063 — —
Other Liabilities
Secured Debt (Q) — — —
Show — breakouts
Secured Debt 4,280,067 4,276,609 +0.1%
Show Legal Entity breakouts
Boston Properties Limited Partnership 4,280,067 4,276,609 +0.1%
Boston Properties Limited Partnership · Variable Interest Entity Primary Beneficiary 3,286,870 3,282,027 +0.1%
Unconsolidated Joint Ventures [Member] 2,905,065 3,206,723 -9.4%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 3,286,870 3,282,027 +0.1%
Show Fair Value By Measurement Basis breakouts
Carrying Reported Amount Fair Value Disclosure 4,280,067 4,276,609 +0.1%
Estimate Of Fair Value Fair Value Disclosure 4,010,151 3,808,095 +5.3%
Show Long-Term Debt Type breakouts
Fixed Rate Mortgage [Member] 4.3 4.3 0.0%
Mortgages 4.3 4.3 0.0%
Senior Notes (Q) — — —
Show — breakouts
Senior Notes 9,806,100 10,645,077 -7.9%
Show Legal Entity breakouts
Boston Properties Limited Partnership 9,806,100 10,645,077 -7.9%
Show Fair Value By Measurement Basis breakouts
Carrying Reported Amount Fair Value Disclosure 9,806,100 10,645,077 -7.9%
Estimate Of Fair Value Fair Value Disclosure 9,554,844 10,005,606 -4.5%
Convertible Debt (Q) — — —
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Convertible Debt 976,263 — —
Show Legal Entity breakouts
Boston Properties Limited Partnership 976,263 — —
Show Fair Value By Measurement Basis breakouts
Carrying Reported Amount Fair Value Disclosure 976,263 — —
Estimate Of Fair Value Fair Value Disclosure 958,745 — —
Other Borrowings (Q) — — —
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Other Borrowings 797,053 798,813 -0.2%
Show Legal Entity breakouts
Boston Properties Limited Partnership 797,053 798,813 -0.2%
Show Fair Value By Measurement Basis breakouts
Carrying Reported Amount Fair Value Disclosure 797,053 798,813 -0.2%
Estimate Of Fair Value Fair Value Disclosure 805,687 799,580 +0.8%
Finance Lease Liability (Q) — — —
Show — breakouts
Finance Lease Liability 360,039 370,885 -2.9%
Show Legal Entity breakouts
Boston Properties Limited Partnership 360,039 370,885 -2.9%
Boston Properties Limited Partnership · Variable Interest Entity Primary Beneficiary 21,074 20,931 +0.7%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 21,074 20,931 +0.7%
Operating Lease Liability (Q) — — —
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Operating Lease Liability 389,213 392,686 -0.9%
Show Legal Entity breakouts
Boston Properties Limited Partnership 389,213 392,686 -0.9%
Boston Properties Limited Partnership · Variable Interest Entity Primary Beneficiary 0 157,691 -100.0%
Unconsolidated Joint Ventures [Member] 30.5 30.5 0.0%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 0 157,691 -100.0%
Other Liabilities (Q) — — —
Show — breakouts
Other Liabilities 386,074 450,796 -14.4%
Show Legal Entity breakouts
Boston Properties Limited Partnership 386,074 450,796 -14.4%
Boston Properties Limited Partnership · Variable Interest Entity Primary Beneficiary 95,209 126,202 -24.6%
Unconsolidated Joint Ventures [Member] 189,125 292,125 -35.3%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 95,209 126,202 -24.6%
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
500 North Capitol Venture LLC [Member] 12,655 11,696 +8.2%
BNY Tower Holdings LLC [Member] 0.4 9,889 -100.0%
Safeco Plaza REIT LLC 2,557 — —
Unconsolidated Joint Ventures [Member] 15.6 33.5 -53.4%
Redeemable Noncontrolling Interest Equity Carrying Amount (Q) — — —
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Redeemable Noncontrolling Interest Equity Carrying Amount 7,538 9,535 -20.9%
Show Legal Entity breakouts
Boston Properties Limited Partnership 7,538 9,535 -20.9%
Stockholders' Equity
Redeemable Noncontrolling Interest Equity Preferred Carrying Amount (Q) — — —
Show Equity Components breakouts
OP Units [Member] 1.3 — —
Show Legal Entity breakouts
Boston Properties Limited Partnership 1,272,719 1,378,573 -7.7%
General And Limited Partners Capital Account (Q) — — —
Show Legal Entity breakouts
Boston Properties Limited Partnership 4,230,155 4,391,985 -3.7%
Common Stock (Q) — — —
Show — breakouts
Common Stock 1,585 1,582 +0.2%
Additional Paid-In Capital (Q) — — —
Show — breakouts
Additional Paid-In Capital 6,836,243 6,836,093 0.0%
Retained Earnings (Q) — — —
Show — breakouts
Retained Earnings -1,674,995 -1,419,575 -18.0%
Treasury Stock Common Shares (Q) — — —
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Treasury Stock Common Shares 78,900 78,900 0.0%
Treasury Stock Value (Q) — — —
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Treasury Stock Value -2,722 -2,722 0.0%
Accumulated Other Comprehensive Income (Q) — — —
Show — breakouts
Accumulated Other Comprehensive Income -12,921 -2,072 -523.6%
Show Legal Entity breakouts
Boston Properties Limited Partnership -12,921 -2,072 -523.6%
Total Stockholders' Equity (Q) — — —
Show — breakouts
Total Stockholders' Equity 5,147,190 5,413,306 -4.9%
Show Legal Entity breakouts
Unconsolidated Joint Ventures [Member] 2,364,644 2,952,446 -19.9%
Partners Capital (Q) — — —
Show Legal Entity breakouts
Boston Properties Limited Partnership 4,217,234 4,389,913 -3.9%
Partners Capital Attributable To Noncontrolling Interest (Q) — — —
Show Legal Entity breakouts
Boston Properties Limited Partnership 1,970,949 1,933,545 +1.9%
Minority Interest In Operating Partnerships (Q) — — —
Show — breakouts
Minority Interest In Operating Partnerships 566,563 591,270 -4.2%
Minority Interest In Limited Partnerships (Q) — — —
Show — breakouts
Minority Interest In Limited Partnerships 1,970,949 1,933,545 +1.9%
Stockholders Equity Including Portion Attributable To Noncontrolling Interest (Q) — — —
Show Equity Components breakouts
Accumulated Other Comprehensive Income -12,921 -2,072 -523.6%
Additional Paid In Capital 6,836,243 6,836,093 0.0%
Common Stock 1,585 1,582 +0.2%
Noncontrolling Interest 566,563 591,270 -4.2%
Noncontrolling interest - property partnerships [Member] 1,970,949 1,933,545 +1.9%
Retained Earnings -1,674,995 -1,419,575 -18.0%
Treasury Stock Common -2,722 -2,722 0.0%
Show — breakouts
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 7,684,702 7,938,121 -3.2%
Show Legal Entity breakouts
Boston Properties Limited Partnership 6,188,183 6,323,458 -2.1%
Total Liabilities & Equity (Q) — — —
Show — breakouts
Total Liabilities & Equity 26,166,164 26,084,980 +0.3%
Show Legal Entity breakouts
Boston Properties Limited Partnership 25,942,364 25,848,890 +0.4%
Unconsolidated Joint Ventures [Member] 5,458,834 6,451,294 -15.4%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q4 2025 YTD Q4 2024 YoY
Operating Activities
Depreciation & Amortization (Q) — — —
Show — breakouts
Depreciation & Amortization 232,015 226,043 +2.6%
Show Legal Entity breakouts
Boston Properties Limited Partnership 230,337 224,339 +2.7%
Operating Lease Right Of Use Asset Amortization Expense (Q) — — —
Show — breakouts
Operating Lease Right Of Use Asset Amortization Expense -35 543 -106.4%
Show Legal Entity breakouts
Boston Properties Limited Partnership -35 543 -106.4%
Amortization Of Sales Type Lease (Q) — — —
Show — breakouts
Amortization Of Sales Type Lease -240 -254 +5.5%
Show Legal Entity breakouts
Boston Properties Limited Partnership -240 -254 +5.5%
Stock-Based Compensation (Q) — — —
Show — breakouts
Stock-Based Compensation 4,771 4,397 +8.5%
Show Legal Entity breakouts
Boston Properties Limited Partnership 4,771 4,397 +8.5%
Equity Method Investment Dividends Or Distributions (Q) — — —
Show — breakouts
Equity Method Investment Dividends Or Distributions 12,974 6,529 +98.7%
Show Legal Entity breakouts
Boston Properties Limited Partnership 12,974 6,529 +98.7%
Gain Loss On Sale Of Investments (Q) — — —
Show — breakouts
Gain Loss On Sale Of Investments -846 369 -329.3%
Show Legal Entity breakouts
Boston Properties Limited Partnership -846 369 -329.3%
Provision For Loan Lease And Other Losses (Q) — — —
Show — breakouts
Provision For Loan Lease And Other Losses -1,110 34 -3364.7%
Show Legal Entity breakouts
Boston Properties Limited Partnership -1,110 34 -3364.7%
Paid In Kind Interest (Q) — — —
Show — breakouts
Paid In Kind Interest 8,198 11,568 -29.1%
Show Legal Entity breakouts
Boston Properties Limited Partnership 8,198 11,568 -29.1%
Nonoperating Gains Losses (Q) — — —
Show — breakouts
Nonoperating Gains Losses 2 2 0.0%
Show Legal Entity breakouts
Boston Properties Limited Partnership 2 2 0.0%
Change in Accounts Receivable (Q) — — —
Show — breakouts
Change in Accounts Receivable 37,358 -10,216 +465.7%
Show Legal Entity breakouts
Boston Properties Limited Partnership 37,358 -10,216 +465.7%
Straight Line Rent (Q) — — —
Show — breakouts
Straight Line Rent -19,765 -19,033 -3.8%
Show Legal Entity breakouts
Boston Properties Limited Partnership -19,765 -19,033 -3.8%
Change in Prepaid & Other Assets (Q) — — —
Show — breakouts
Change in Prepaid & Other Assets 67,086 64,322 +4.3%
Show Legal Entity breakouts
Boston Properties Limited Partnership 67,086 64,322 +4.3%
Increase Decrease In Other Operating Capital Net (Q) — — —
Show — breakouts
Increase Decrease In Other Operating Capital Net -3,204 188 -1804.3%
Show Legal Entity breakouts
Boston Properties Limited Partnership -3,204 188 -1804.3%
Increase Decrease In Accounts Payable And Accrued Liabilities (Q) — — —
Show — breakouts
Increase Decrease In Accounts Payable And Accrued Liabilities -15,645 -9,991 -56.6%
Show Legal Entity breakouts
Boston Properties Limited Partnership -15,645 -9,991 -56.6%
Increase Decrease In Interest Payable Net (Q) — — —
Show — breakouts
Increase Decrease In Interest Payable Net 5,219 6,736 -22.5%
Show Legal Entity breakouts
Boston Properties Limited Partnership 5,219 6,736 -22.5%
Increase Decrease In Other Operating Liabilities (Q) — — —
Show — breakouts
Increase Decrease In Other Operating Liabilities 21,737 48,159 -54.9%
Show Legal Entity breakouts
Boston Properties Limited Partnership 21,737 48,159 -54.9%
Lease Cost (Q) — — —
Show — breakouts
Lease Cost -45,812 -57,301 +20.1%
Show Legal Entity breakouts
Boston Properties Limited Partnership -45,812 -57,301 +20.1%
Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities (Q) — — —
Show — breakouts
Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities 112,963 621,563 -81.8%
Show Legal Entity breakouts
Boston Properties Limited Partnership 108,794 619,859 -82.4%
Net Cash from Operations (Q) — — —
Show — breakouts
Net Cash from Operations 407,752 383,746 +6.3%
Show Legal Entity breakouts
Boston Properties Limited Partnership 407,752 383,746 +6.3%
Investing Activities
Payments To Acquire Other Productive Assets (Q) — — —
Show — breakouts
Payments To Acquire Other Productive Assets -183,213 -181,398 -1.0%
Show Legal Entity breakouts
Boston Properties Limited Partnership -183,213 -181,398 -1.0%
Payments For Capital Improvements (Q) — — —
Show — breakouts
Payments For Capital Improvements -45,027 -71,256 +36.8%
Show Legal Entity breakouts
Boston Properties Limited Partnership -45,027 -71,256 +36.8%
Payments For Tenant Improvements (Q) — — —
Show — breakouts
Payments For Tenant Improvements -95,614 -79,477 -20.3%
Show Legal Entity breakouts
Boston Properties Limited Partnership -95,614 -79,477 -20.3%
Proceeds From Real Estate And Real Estate Joint Ventures (Q) — — —
Show — breakouts
Proceeds From Real Estate And Real Estate Joint Ventures 660,674 85 +777163.5%
Show Legal Entity breakouts
Boston Properties Limited Partnership 660,674 85 +777163.5%
Payments To Acquire Equity Method Investments (Q) — — —
Show — breakouts
Payments To Acquire Equity Method Investments -140,228 -44,598 -214.4%
Show Legal Entity breakouts
Boston Properties Limited Partnership -140,228 -44,598 -214.4%
Other Investing Activities (Q) — — —
Show — breakouts
Other Investing Activities -1,478 -1,000 -47.8%
Show Legal Entity breakouts
Boston Properties Limited Partnership -1,478 -1,000 -47.8%
Origination Of Notes Receivable From Related Parties (Q) — — —
Show — breakouts
Origination Of Notes Receivable From Related Parties -18,835 -1,035 -1719.8%
Show Legal Entity breakouts
Boston Properties Limited Partnership -18,835 -1,035 -1719.8%
Payments For Proceeds From Investments (Q) — — —
Show — breakouts
Payments For Proceeds From Investments -164 -889 +81.6%
Show Legal Entity breakouts
Boston Properties Limited Partnership -164 -889 +81.6%
Net Cash from Investing (Q) — — —
Show — breakouts
Net Cash from Investing 343,702 -386,609 +188.9%
Show Legal Entity breakouts
Boston Properties Limited Partnership 343,702 -386,609 +188.9%
Writeoffoffullydepreciatedrealestate (Q) — — —
Show — breakouts
Writeoffoffullydepreciatedrealestate -46,573 -35,421 -31.5%
Show Legal Entity breakouts
Boston Properties Limited Partnership -46,573 -35,421 -31.5%
Change In Real Estate Included In Accounts Payable And Accrued Expenses (Q) — — —
Show — breakouts
Change In Real Estate Included In Accounts Payable And Accrued Expenses -28,511 -29,856 +4.5%
Show Legal Entity breakouts
Boston Properties Limited Partnership -28,511 -29,856 +4.5%
Non Cash Contributions From Noncontrolling Interests In Property Partnerships Net (Q) — — —
Show — breakouts
Non Cash Contributions From Noncontrolling Interests In Property Partnerships Net -9 5,771 -100.2%
Show Legal Entity breakouts
Boston Properties Limited Partnership -9 5,771 -100.2%
Capitalized Operating Lease Costs (Q) — — —
Show — breakouts
Capitalized Operating Lease Costs 7,882 7,548 +4.4%
Show Legal Entity breakouts
Boston Properties Limited Partnership 7,882 7,548 +4.4%
Conversions Of Noncontrolling Interests To Stockholders Equity (Q) — — —
Show — breakouts
Conversions Of Noncontrolling Interests To Stockholders Equity 4,436 6,818 -34.9%
Show Legal Entity breakouts
Boston Properties Limited Partnership 4,436 6,818 -34.9%
Issuance Of Restricted Securities To Employees And Directors (Q) — — —
Show — breakouts
Issuance Of Restricted Securities To Employees And Directors 31,983 0 —
Show Legal Entity breakouts
Boston Properties Limited Partnership 31,983 0 —
Financing Activities
Repayments Of Secured Debt (Q) — — —
Show — breakouts
Repayments Of Secured Debt -1,056 -1,319 +19.9%
Show Legal Entity breakouts
Boston Properties Limited Partnership -1,056 -1,319 +19.9%
Repayments Of Unsecured Debt (Q) — — —
Show — breakouts
Repayments Of Unsecured Debt 0 0 —
Show Legal Entity breakouts
Boston Properties Limited Partnership 0 0 —
Repayments Of Other Debt (Q) — — —
Show — breakouts
Repayments Of Other Debt 0 0 —
Show Legal Entity breakouts
Boston Properties Limited Partnership 0 0 —
Finance Lease Principal Payments (Q) — — —
Show — breakouts
Finance Lease Principal Payments -3,488 -3,297 -5.8%
Show Legal Entity breakouts
Boston Properties Limited Partnership -3,488 -3,297 -5.8%
Proceeds From Issuance Of Commercial Paper (Q) — — —
Show — breakouts
Proceeds From Issuance Of Commercial Paper 2,974,133 1,808,401 +64.5%
Show Legal Entity breakouts
Boston Properties Limited Partnership 2,974,133 1,808,401 +64.5%
Repayments Of Commercial Paper (Q) — — —
Show — breakouts
Repayments Of Commercial Paper -2,974,133 -1,808,401 -64.5%
Show Legal Entity breakouts
Boston Properties Limited Partnership -2,974,133 -1,808,401 -64.5%
Payments Of Financing Costs (Q) — — —
Show — breakouts
Payments Of Financing Costs -2,496 -1,343 -85.9%
Show Legal Entity breakouts
Boston Properties Limited Partnership -2,496 -1,343 -85.9%
Proceeds From Issuance Or Sale Of Equity (Q) — — —
Show — breakouts
Proceeds From Issuance Or Sale Of Equity -2 -3 +33.3%
Show Legal Entity breakouts
Boston Properties Limited Partnership -2 -3 +33.3%
Payments Of Dividends (Q) — — —
Show — breakouts
Payments Of Dividends -123,387 -172,509 +28.5%
Show Legal Entity breakouts
Boston Properties Limited Partnership -123,387 -172,509 +28.5%
Proceeds From Noncontrolling Interest Cash Portion (Q) — — —
Show — breakouts
Proceeds From Noncontrolling Interest Cash Portion 17,089 70,397 -75.7%
Show Legal Entity breakouts
Boston Properties Limited Partnership 17,089 70,397 -75.7%
Payments To Minority Shareholders (Q) — — —
Show Equity Components breakouts
Noncontrolling interest - property partnerships [Member] -19,577 -25,351 +22.8%
Total Capital [Member] -19,577 -25,351 +22.8%
Show — breakouts
Payments To Minority Shareholders -19,577 -25,351 +22.8%
Show Legal Entity breakouts
Boston Properties Limited Partnership -19,577 -25,351 +22.8%
Net Cash from Financing (Q) — — —
Show — breakouts
Net Cash from Financing -132,917 -133,425 +0.4%
Show Legal Entity breakouts
Boston Properties Limited Partnership -132,917 -133,425 +0.4%
Supplemental
Interest Paid (Q) — — —
Show — breakouts
Interest Paid 163,269 170,321 -4.1%
Show Legal Entity breakouts
Boston Properties Limited Partnership 163,269 170,321 -4.1%
Interest Costs Capitalized (Q) — — —
Show — breakouts
Interest Costs Capitalized 14,670 10,634 +38.0%
Show Legal Entity breakouts
Boston Properties Limited Partnership 14,670 10,634 +38.0%
Other Cash Flow
Net Change in Cash (Q) — — —
Show — breakouts
Net Change in Cash 618,537 -136,288 +553.8%
Show Legal Entity breakouts
Boston Properties Limited Partnership 618,537 -136,288 +553.8%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents (Q) — — —
Show — breakouts
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 1,557,266 1,335,196 +16.6%
Show Legal Entity breakouts
Boston Properties Limited Partnership 1,557,266 1,335,196 +16.6%

Values in thousands USD. Source: SEC EDGAR 10-K filing.

This table is rendered from the same JSON returned by /api/financials.

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