BXP Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters.
| Line item | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 | Mar 31, 2025 · Q1 | Sep 30, 2024 · Q3 |
|---|---|---|---|---|
| Lease | $809.8M | $805.9M | $811.1M | $799.5M |
| Other revenue | $61.7M | $62.5M | $54.1M | $59.8M |
| Total revenue | $871.5M | $868.5M | $865.2M | $859.2M |
| Rental | $331.7M | $332.1M | $331.6M | $327.9M |
| Operating expense | $13.4M | $13.5M | $12.1M | $13.5M |
| General and administrative | $36.2M | $42.5M | $52.3M | $33.4M |
| Transaction costs | $1.4M | $357.0K | $768.0K | $188.0K |
| Depreciation and amortization | $236.1M | $223.8M | $220.1M | $222.9M |
| Total expenses | $619.0M | $612.2M | $616.8M | $597.8M |
| Income (loss) from unconsolidated joint ventures | ($148.3M) | ($3.3M) | ($2.1M) | ($7.0M) |
| Gains on sales of real estate | $1.9M | $18.4M | — | $517.0K |
| Loss on sales-type lease | $0 | $0 | ($2.5M) | — |
| Interest and other income (loss) | $7.6M | $8.1M | $7.8M | $14.4M |
| Gains (losses) from investments in securities | $2.4M | $2.6M | ($365.0K) | $2.2M |
| Unrealized gain (loss) on non-real estate investments | $178.0K | ($39.0K) | ($483.0K) | $94.0K |
| Impairment loss | ($68.9M) | $0 | $0 | $0 |
| Loss from early extinguishment of debt | $0 | $0 | ($338.0K) | — |
| Interest expense | ($164.3M) | ($162.8M) | ($163.4M) | ($163.2M) |
| Net income (loss) | ($116.8M) | $119.1M | $86.9M | $108.5M |
| Noncontrolling interests in property partnerships | ($17.9M) | ($20.1M) | ($18.7M) | ($15.2M) |
| Noncontrolling interest - common units of the Operating Partnership | $13.0M | ($10.1M) | ($7.0M) | ($9.6M) |
| Net income (loss) attributable to BXP, Inc. | ($121.7M) | $89.0M | $61.2M | $83.6M |
| Earnings Per Share After Allocation of Undistributed Earnings to Participating Securities Basic (dollars per share) | -$0.77 | $0.56 | $0.39 | $0.53 |
| Weighted average number of common shares / units outstanding (in shares / units) | 158.3M | 158.3M | 158.2M | 157.7M |
| Diluted Earnings: Net income (Loss), Per Share Amount (in dollars per share / unit) | -$0.77 | $0.56 | $0.39 | $0.53 |
| Weighted average number of common and common equivalent shares / units outstanding (in shares / units) | 158.3M | 158.8M | 158.6M | 158.2M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $8,005,124 and $7,797,430 at December 31, 2025 and December 31, 2024, respectively) | $28.2B | $27.9B | $26.7B | $25.4B |
| Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at December 31, 2025 and December 31, 2024, respectively) | $372.5M | $372.9M | $401.7M | — |
| Right of use assets - operating leases (amounts related to VIEs of $0 and $140,558 at December 31, 2025 and December 31, 2024, respectively) | $325.8M | $334.8M | $324.3M | $167.4M |
| Less: accumulated depreciation (amounts related to VIEs of $(1,763,988) and $(1,628,274) at December 31, 2025 and December 31, 2024, respectively) | ($8.0B) | ($7.5B) | ($6.9B) | ($6.3B) |
| Total real estate | $20.9B | $21.1B | $20.6B | $19.5B |
| Cash and cash equivalents (amounts related to VIEs of $255,631 and $373,737 at December 31, 2025 and December 31, 2024, respectively) | $1.5B | $1.3B | $1.5B | $690.3M |
| Cash held in escrows (amounts related to VIEs of $10,319 and $4,979 at December 31, 2025 and December 31, 2024, respectively) | $79.1M | $80.3M | $81.1M | $46.5M |
| Investments in securities | $44.6M | $39.7M | $36.3M | $32.3M |
| Tenant and other receivables, net (amounts related to VIEs of $30,989 and $20,435 at December 31, 2025 and December 31, 2024, respectively) | $92.6M | $107.5M | $122.4M | $81.4M |
| Related party note receivable, net | $37.7M | $88.8M | $88.8M | $78.6M |
| Sales-type lease receivable, net | $15.7M | $14.7M | $13.7M | $12.8M |
| Accrued rental income, net (amounts related to VIEs of $470,734 and $435,110 at December 31, 2025 and December 31, 2024, respectively) | $1.5B | $1.5B | $1.4B | $1.3B |
| Deferred charges, net (amounts related to VIEs of $204,924 and $211,726 at December 31, 2025 and December 31, 2024, respectively) | $847.7M | $813.3M | $760.4M | $733.3M |
| Prepaid expenses and other assets (amounts related to VIEs of $14,509 and $15,036 at December 31, 2025 and December 31, 2024, respectively) | $108.1M | $70.8M | $64.2M | $43.6M |
| Investments in unconsolidated joint ventures | $999.3M | $1.1B | $1.4B | $1.7B |
| Assets held for sale | $24.8M | — | — | — |
| Total assets | $26.2B | $26.1B | $26.0B | $24.2B |
| Mortgage notes payable, net (amounts related to VIEs of $3,286,870 and $3,282,027 at December 31, 2025 and December 31, 2024, respectively) | $4.3B | $4.3B | $4.2B | $3.3B |
| Unsecured senior notes, net | $9.8B | $10.6B | $10.5B | $10.2B |
| Unsecured exchangeable senior notes, net | $976.3M | — | — | — |
| Unsecured line of credit | $0 | $0 | $0 | $0 |
| Unsecured term loans, net | $797.1M | $798.8M | $1.2B | $730.0M |
| Unsecured commercial paper | $750.0M | $500.0M | — | — |
| Lease liabilities - finance leases (amounts related to VIEs of $21,074 and $20,931 at December 31, 2025 and December 31, 2024, respectively) | $360.0M | $370.9M | $418.0M | $249.3M |
| Lease liabilities - operating leases (amounts related to VIEs of $0 and $157,691 at December 31, 2025 and December 31, 2024, respectively) | $389.2M | $392.7M | $350.4M | $204.7M |
| Accounts payable and accrued expenses (amounts related to VIEs of $88,849 and $115,808 at December 31, 2025 and December 31, 2024, respectively) | $480.0M | $401.9M | $458.3M | $417.5M |
| Dividends and distributions payable | $123.8M | $172.5M | $171.2M | $170.6M |
| Accrued interest payable | $125.3M | $128.1M | $133.7M | $103.8M |
| Other liabilities (amounts related to VIEs of $95,209 and $126,202 at December 31, 2025 and December 31, 2024, respectively) | $386.1M | $450.8M | $445.9M | $450.9M |
| Total liabilities | $18.5B | $18.1B | $17.8B | $15.8B |
| Redeemable deferred stock units— 111,701 and 128,227 units outstanding at redemption value at December 31, 2025 and December 31, 2024, respectively | $7.5M | $9.5M | $8.4M | $6.6M |
| Excess stock, shares outstanding | 0 | 0 | 0 | 0 |
| Excess stock, shares issued | 0 | 0 | 0 | 0 |
| Preferred stock / units, shares / units issued (in shares / units) | 0 | 0 | 0 | 0 |
| Preferred stock / units, shares / units outstanding (in shares / units) | 0 | 0 | 0 | 0 |
| Redeemable partnership units— 15,590,009 and 15,730,882 common units and 2,662,140 and 2,335,229 long term incentive units outstanding at redemption value at December 31, 2025 and December 31, 2024, respectively | $1.3B | $1.4B | $1.3B | $1.3B |
| Excess stock, $0.01 par value, 150,000,000 shares authorized, none issued or outstanding | 0 | 0 | 0 | 0 |
| Preferred stock, $0.01 par value, 50,000,000 shares authorized, none issued or outstanding | 0 | 0 | 0 | 0 |
| Boston Properties Limited Partnership partners’ capital— 1,768,004 and 1,762,411 general partner units and 156,780,294 and 156,412,584 limited partner units outstanding at December 31, 2025 and December 31, 2024, respectively | $4.2B | $4.4B | $5.0B | $5.3B |
| Common stock, $0.01 par value, 250,000,000 shares authorized, 158,627,198 and 158,253,895 issued and 158,548,298 and 158,174,995 outstanding at December 31, 2025 and December 31, 2024, respectively | 1.6M | 1.6M | 1.6M | 1.6M |
| Additional paid-in capital | $6.8B | $6.8B | $6.7B | $6.5B |
| Dividends in excess of earnings | ($1.7B) | ($1.4B) | ($816.2M) | ($391.4M) |
| Treasury common stock at cost, shares | 78.9K | 78.9K | 78.9K | — |
| Treasury common stock at cost, 78,900 shares at December 31, 2025 and December 31, 2024 | -2.7M | -2.7M | -2.7M | -2.7M |
| Accumulated other comprehensive loss | ($12.9M) | ($2.1M) | ($21.1M) | ($13.7M) |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Real estate, at cost (amounts related to variable interest entities (“VIEs”) of $8,169,231 and $8,005,124 at June 30, 2026 and December 31, 2025, respectively) | $28.6B | $28.4B | $28.6B | $28.4B |
| Right of use assets - finance leases (amounts related to VIEs of $21,000 and $21,000 at June 30, 2026 and December 31, 2025, respectively) | $371.9M | $372.5M | $372.7M | $372.8M |
| Right of use assets - operating leases | $290.7M | $321.0M | $321.1M | $325.7M |
| Less: accumulated depreciation (amounts related to VIEs of $(1,836,395) and $(1,763,988) at June 30, 2026 and December 31, 2025, respectively) | ($8.3B) | ($8.2B) | ($8.0B) | ($7.9B) |
| Total real estate | $21.0B | $20.9B | $21.3B | $21.3B |
| Cash and cash equivalents (amounts related to VIEs of $286,535 and $255,631 at June 30, 2026 and December 31, 2025, respectively) | $493.9M | $512.8M | $861.1M | $447.0M |
| Cash held in escrows (amounts related to VIEs of $5,218 and $10,319 at June 30, 2026 and December 31, 2025, respectively) | $59.5M | $68.5M | $77.7M | $80.9M |
| Investments in securities | $46.5M | $42.1M | $43.6M | $41.1M |
| Tenant and other receivables, net (amounts related to VIEs of $34,292 and $30,989 at June 30, 2026 and December 31, 2025, respectively) | $90.7M | $90.1M | $136.7M | $109.7M |
| Related party note receivable, net | $47.5M | $41.5M | $97.8M | $6.7M |
| Sales-type lease receivable, net | $16.2M | $15.9M | $15.4M | $15.2M |
| Accrued rental income, net (amounts related to VIEs of $479,569 and $470,734 at June 30, 2026 and December 31, 2025, respectively) | $1.6B | $1.6B | $1.5B | $1.5B |
| Deferred charges, net (amounts related to VIEs of $199,438 and $204,924 at June 30, 2026 and December 31, 2025, respectively) | $848.3M | $830.9M | $802.8M | $809.0M |
| Prepaid expenses and other assets (amounts related to VIEs of $11,990 and $14,509 at June 30, 2026 and December 31, 2025, respectively) | $122.8M | $188.8M | $137.6M | $89.6M |
| Investments in unconsolidated joint ventures | $820.1M | $854.7M | $999.8M | $1.2B |
| Assets held for sale | $62.5M | $0 | — | — |
| Total assets | $25.2B | $25.1B | $26.0B | $25.6B |
| Mortgage notes payable, net (amounts related to VIEs of $3,289,291 and $3,286,870 at June 30, 2026 and December 31, 2025, respectively) | $4.3B | $4.3B | $4.3B | $4.3B |
| Unsecured senior notes, net | $8.8B | $8.8B | $9.8B | $9.8B |
| Unsecured exchangeable senior notes, net | $978.6M | $977.4M | $975.1M | — |
| Unsecured line of credit | $0 | $0 | $0 | $185.0M |
| Unsecured term loans, net | $797.6M | $797.3M | $796.8M | $796.6M |
| Unsecured commercial paper | $750.0M | $750.0M | $750.0M | $750.0M |
| Lease liabilities - finance leases (amounts related to VIEs of $21,164 and $21,074 at June 30, 2026 and December 31, 2025, respectively) | $353.4M | $357.0M | $363.2M | $365.9M |
| Lease liabilities - operating leases | $386.5M | $387.5M | $379.8M | $399.2M |
| Accounts payable and accrued expenses (amounts related to VIEs of $77,945 and $88,849 at June 30, 2026 and December 31, 2025, respectively) | $474.1M | $418.4M | $484.8M | $480.2M |
| Dividends and distributions payable | $123.9M | $124.0M | $123.3M | $172.7M |
| Accrued interest payable | $109.5M | $124.1M | $120.1M | $121.0M |
| Other liabilities (amounts related to VIEs of $114,331 and $95,209 at June 30, 2026 and December 31, 2025, respectively) | $364.1M | $352.8M | $406.8M | $416.8M |
| Liabilities held for sale | $6.1M | — | — | — |
| Total liabilities | $17.4B | $17.4B | $18.5B | $17.8B |
| Redeemable deferred stock units— 119,549 and 111,701 units outstanding at redemption value at June 30, 2026 and December 31, 2025, respectively | $7.9M | $6.1M | $8.0M | $7.0M |
| Excess stock, shares outstanding | 0 | 0 | 0 | 0 |
| Excess stock, shares issued | 0 | 0 | 0 | 0 |
| Preferred stock / units, shares / units issued (in shares / units) | 0 | 0 | 0 | 0 |
| Preferred stock / units, shares / units outstanding (in shares / units) | 0 | 0 | 0 | 0 |
| Redeemable partnership units— 14,867,831 and 15,590,009 common units and 3,102,888 and 2,662,140 long term incentive units outstanding at redemption value at June 30, 2026 and December 31, 2025, respectively | $1.2B | $1.0B | $1.4B | $1.3B |
| Excess stock, $0.01 par value, 150,000,000 shares authorized, none issued or outstanding | 0 | 0 | 0 | 0 |
| Preferred stock, $0.01 par value, 50,000,000 shares authorized, none issued or outstanding | 0 | 0 | 0 | 0 |
| Boston Properties Limited Partnership partners’ capital— 1,774,922 and 1,768,004 general partner units and 157,746,588 and 156,780,294 limited partner units outstanding at June 30, 2026 and December 31, 2025, respectively | $4.3B | $4.5B | $3.9B | $4.3B |
| Common stock, $0.01 par value, 250,000,000 shares authorized, 159,600,410 and 158,627,198 issued and 159,521,510 and 158,548,298 outstanding at June 30, 2026 and December 31, 2025, respectively | 1.6M | 1.6M | 1.6M | 1.6M |
| Additional paid-in capital | $6.9B | $6.8B | $6.8B | $6.9B |
| Dividends in excess of earnings | ($1.7B) | ($1.7B) | ($1.8B) | ($1.6B) |
| Treasury common stock at cost, 78,900 shares at June 30, 2026 and December 31, 2025 | -2.7M | -2.7M | -2.7M | -2.7M |
| Accumulated other comprehensive income (loss) | $2.1M | ($6.1M) | ($14.8M) | ($15.1M) |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents and cash held in escrows, beginning of period | $1.3B | $1.6B | $736.8M | $501.2M |
| Cash and cash equivalents and cash held in escrows, end of period | $1.6B | $1.3B | $1.6B | $736.8M |
| Cash and cash equivalents, beginning of period | $1.3B | $1.5B | $690.3M | $452.7M |
| Cash held in escrows, beginning of period | $80.3M | $81.1M | $46.5M | $48.5M |
| Cash and cash equivalents, end of period | $1.5B | $1.3B | $1.5B | $690.3M |
| Cash held in escrows,end of period | $79.1M | $80.3M | $81.1M | $46.5M |
| Dividends and distributions declared but not paid | $123.8M | $172.5M | $171.2M | $170.6M |
| Line item | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD | Mar 31, 2025 · Q1 | Sep 30, 2024 · YTD |
|---|---|---|---|---|
| Net Income | $89.2M | $206.0M | $86.9M | $322.0M |
| Depreciation and amortization | $680.1M | $443.9M | $220.1M | $661.1M |
| Impairment loss | $68.9M | $0 | $0 | $13.6M |
| Amortization of right of use assets - operating leases | $299.0K | $289.0K | $203.0K | $1.7M |
| Amortization of sales type lease | ($749.0K) | ($513.0K) | ($281.0K) | ($738.0K) |
| Non-cash compensation expense | $39.6M | $34.9M | $22.9M | $39.6M |
| Income (loss) from unconsolidated joint ventures | $153.8M | $5.5M | $2.1M | ($6.4M) |
| Distributions of net cash flow from operations of unconsolidated joint ventures | $45.5M | $25.9M | $17.1M | $27.3M |
| Gains from investments in securities | ($4.6M) | ($2.2M) | $365.0K | ($4.8M) |
| Allowance for current expected credit losses | ($23.0K) | ($6.0K) | ($23.0K) | $44.0K |
| Non-cash portion of interest expense | $24.0M | $16.9M | $9.3M | $25.6M |
| Loss from early extinguishment of debt | $338.0K | $338.0K | $338.0K | — |
| Gains on sales of real estate | ($20.3M) | ($18.4M) | — | ($517.0K) |
| Loss on sales-type lease | $2.5M | $2.5M | $2.5M | — |
| Unrealized (gain) loss on non-real estate investments | $344.0K | $522.0K | $483.0K | ($548.0K) |
| Tenant and other receivables, net | ($4.9M) | $4.3M | $1.9M | $23.9M |
| Accrued rental income, net | ($82.1M) | ($51.2M) | ($28.2M) | ($78.6M) |
| Prepaid expenses and other assets | ($71.2M) | ($22.3M) | ($73.9M) | ($73.2M) |
| Right of use assets - operating lease | $0 | $0 | $0 | ($750.0K) |
| Lease liabilities - operating leases | ($341.0K) | $199.0K | ($162.0K) | ($390.0K) |
| Accounts payable and accrued expenses | $42.8M | $12.1M | ($14.7M) | $7.6M |
| Accrued interest payable | ($8.0M) | ($7.1M) | ($7.7M) | ($12.4M) |
| Other liabilities | ($40.9M) | ($41.6M) | ($11.9M) | ($27.6M) |
| Tenant leasing costs | ($76.8M) | ($46.9M) | ($17.4M) | ($61.7M) |
| Total adjustments | $748.2M | $357.1M | $123.1M | $528.8M |
| Net cash provided by operating activities | $837.4M | $563.2M | $210.0M | $850.8M |
| Construction in progress | ($500.5M) | ($278.7M) | ($138.8M) | ($469.9M) |
| Building, pre-development and other capital improvements | ($171.7M) | ($129.0M) | ($57.4M) | ($118.4M) |
| Tenant improvements | ($243.2M) | ($139.7M) | ($60.3M) | ($178.8M) |
| Proceeds from sale of real estate | $21.8M | $21.8M | — | — |
| Acquisition of real estate upon consolidation of unconsolidated joint ventures (net of cash) | $0 | $0 | $0 | $6.1M |
| Capital contributions to unconsolidated joint ventures | ($118.5M) | ($84.4M) | ($52.6M) | ($87.5M) |
| Capital distributions from unconsolidated joint ventures | $29.2M | — | — | $0 |
| Investment in non-real estate investments | ($2.1M) | ($1.4M) | ($434.0K) | ($1.5M) |
| Issuance of note receivables (including related party) | ($4.0M) | ($1.8M) | ($600.0K) | ($2.2M) |
| Investments in securities, net | $722.0K | $864.0K | $1.0M | $1.0M |
| Net cash used in investing activities | ($988.2M) | ($612.4M) | ($309.1M) | ($850.8M) |
| Repayments of mortgage notes payable | ($3.2M) | ($2.2M) | ($1.1M) | ($3.5M) |
| Proceeds from unsecured senior notes | $0 | — | — | $849.7M |
| Redemption of unsecured senior notes | ($850.0M) | ($850.0M) | ($850.0M) | ($700.0M) |
| Proceeds from Convertible Debt | $1.0B | — | — | — |
| Borrowings on unsecured line of credit | $865.0M | $520.0M | $360.0M | — |
| Repayments of unsecured line of credit | ($865.0M) | ($335.0M) | ($60.0M) | — |
| Borrowings on unsecured term loans | $700.0M | $700.0M | $700.0M | $0 |
| Repayment of unsecured term loan | ($700.0M) | ($700.0M) | ($700.0M) | ($500.0M) |
BXP Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.