BXP Inc
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
BXP$63.54-4.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets as of December 31, 202 and
| BXP, INC.CONSOLIDATED BALANCE SHEETS(in thousands, except for share and par value amounts) | ||
|---|---|---|
| December 31, 2024 | December 31, 2023 | |
| ASSETS | ||
| Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $7,797,430 and $7,054,075 at December 31, 2024 and December 31, 2023, respectively) | $27,870,623 | $26,749,209 |
| Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at December 31, 2024 and December 31, 2023, respectively) | 372,922 | 401,680 |
| Right of use assets - operating leases (amounts related to VIEs of $140,558 and $158,885 at December 31, 2024 and December 31, 2023, respectively) | 334,767 | 324,298 |
| Less: accumulated depreciation (amounts related to VIEs of $(1,628,274) and $(1,501,483) at December 31, 2024 and December 31, 2023, respectively) | (7,528,057) | (6,881,728) |
| Total real estate | 21,050,255 | 20,593,459 |
| Cash and cash equivalents (amounts related to VIEs of $373,737 and $245,317 at December 31, 2024 and December 31, 2023, respectively) | 1,254,882 | 1,531,477 |
| Cash held in escrows (amounts related to VIEs of $4,979 and $22,160 at December 31, 2024 and December 31, 2023, respectively) | 80,314 | 81,090 |
| Investments in securities | 39,706 | 36,337 |
| Tenant and other receivables, net (amounts related to VIEs of $20,435 and $27,987 at December 31, 2024 and December 31, 2023, respectively) | 107,453 | 122,407 |
| Note receivable, net | 4,947 | 1,714 |
| Related party notes receivable, net | 88,779 | 88,779 |
| Sales-type lease receivable, net | 14,657 | 13,704 |
| Accrued rental income, net (amounts related to VIEs of $435,110 and $401,159 at December 31, 2024 and December 31, 2023, respectively) | 1,466,220 | 1,355,212 |
| Deferred charges, net (amounts related to VIEs of $211,726 and $175,383 at December 31, 2024 and December 31, 2023, respectively) | 813,345 | 760,421 |
| Prepaid expenses and other assets (amounts related to VIEs of $15,036 and $11,824 at December 31, 2024 and December 31, 2023, respectively) | 70,839 | 64,230 |
| Investments in unconsolidated joint ventures | 1,093,583 | 1,377,319 |
| Total assets | $26,084,980 | $26,026,149 |
| LIABILITIES AND EQUITY | ||
| Liabilities: | ||
| Mortgage notes payable, net (amounts related to VIEs of $3,282,027 and $3,277,185 at December 31, 2024 and December 31, 2023, respectively) | $4,276,609 | $4,166,379 |
| Unsecured senior notes, net | 10,645,077 | 10,491,617 |
| Unsecured line of credit | — | — |
| Unsecured term loans, net | 798,813 | 1,198,301 |
| Unsecured commercial paper | 500,000 | — |
| Lease liabilities - finance leases (amounts related to VIEs of $20,931 and $20,794 at December 31, 2024 and December 31, 2023, respectively) | 370,885 | 417,961 |
| Lease liabilities - operating leases (amounts related to VIEs of $157,691 and $145,826 at December 31, 2024 and December 31, 2023, respectively) | 392,686 | 350,391 |
| Accounts payable and accrued expenses (amounts related to VIEs of $115,808 and $59,667 at December 31, 2024 and December 31, 2023, respectively) | 401,874 | 458,329 |
| Dividends and distributions payable | 172,486 | 171,176 |
| Accrued interest payable | 128,098 | 133,684 |
| Other liabilities (amounts related to VIEs of $126,202 and $115,275 at December 31, 2024 and December 31, 2023, respectively) | 450,796 | 445,947 |
| Total liabilities | 18,137,324 | 17,833,785 |
| BXP, INC.CONSOLIDATED BALANCE SHEETS(in thousands, except for share and par value amounts) | ||
|---|---|---|
| December 31, 2024 | December 31, 2023 | |
| Commitments and contingencies (See Note 9) | ||
| Redeemable deferred stock units— 128,227 and 119,471 units outstanding at redemption value at December 31, 2024 and December 31, 2023, respectively | 9,535 | 8,383 |
| Equity: | ||
| Stockholders’ equity attributable to BXP, Inc.: | ||
| Excess stock, $0.01 par value, 150,000,000 shares authorized, none issued or outstanding | — | — |
| Preferred stock, $0.01 par value, 50,000,000 shares authorized, none issued or outstanding | — | — |
| Common stock, $0.01 par value, 250,000,000 shares authorized, 158,253,895 and 157,019,766 issued and 158,174,995 and 156,940,866 outstanding at December 31, 2024 and December 31, 2023, respectively | 1,582 | 1,569 |
| Additional paid-in capital | 6,836,093 | 6,715,149 |
| Dividends in excess of earnings | (1,419,575) | (816,152) |
| Treasury common stock at cost, 78,900 shares at December 31, 2024 and December 31, 2023 | (2,722) | (2,722) |
| Accumulated other comprehensive loss | (2,072) | (21,147) |
| Total stockholders’ equity attributable to BXP, Inc. | 5,413,306 | 5,876,697 |
| Noncontrolling interests: | ||
| Common units of Boston Properties Limited Partnership | 591,270 | 666,580 |
| Property partnerships | 1,933,545 | 1,640,704 |
| Total equity | 7,938,121 | 8,183,981 |
| Total liabilities and equity | $26,084,980 | $26,026,149 |
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