Opening its latest reports…Reading every line of the four statements…Putting it into plain words…
BXPBXP, Inc.
The four financial statements
Every company that sells shares in the US files four statements with the SEC. Together they show whether BXP made money, what it owns and owes, where its cash went, and what changed for its shareholders. Below is every line exactly as BXP filed it, with what each one means in plain English.
As filed with the SEC on Feb 27, 2026 · the full report · SEC's figures viewer
Income statement · also called the statement of operations, statement of earnings or profit and loss
Did it make money?
Read it from the top down. It starts with everything customers paid (sales), takes away the cost of making what was sold, then the costs of running the company, then interest and tax. What is left at the bottom is profit (net income), the part that belongs to shareholders. It covers a stretch of time: a year, or a quarter.
- People usually check: Are sales growing compared with a year earlier?
- People usually check: How much of each dollar of sales is left at each step (the margins)?
- People usually check: Is profit growing faster or slower than sales?
Point at or tap a bar to see the lines inside it.
Out of every $100 of sales
- all costs and tax: $92
- kept as profit: $7.9
Every line, explained
| Line (tap for what it means) | 12 months to Dec 31, 2025 | 12 months to Dec 31, 2024 | 12 months to Dec 31, 2023 |
|---|---|---|---|
| Revenue | |||
| $3.2B▲ 1.9% | $3.2B | $3.1B | |
| $3.5B▲ 2.2% | $3.4B | $3.3B | |
| Expenses | |||
| $1.3B▲ 3.7% | $1.3B | $1.2B | |
| $168.8M▲ 5.5% | $160.0M | $170.2M | |
| $2.7M▲ 68% | $1.6M | $4.3M | |
| $912.1M▲ 2.8% | $887.2M | $830.8M | |
| $2.5B▲ 3.5% | $2.4B | $2.2B | |
| Other income (expense) | |||
| −$103.6M▲ 70% | −$343.2M | −$239.5M | |
| $176.7M▲ 29257% | $602.0K | $517.0K | |
| −$2.5M | $0 | $0 | |
| $35.8M▼ 41% | $60.2M | $70.0M | |
| $5.5M▲ 24% | $4.4M | $5.6M | |
| $0 | $0 | −$79.0K | |
| −$346.0K | $546.0K | $239.0K | |
| −$85.8M▼ 530% | −$13.6M | $0 | |
| −$338.0K | $0 | $0 | |
| −$653.1M▼ 1.2% | −$645.1M | −$579.6M | |
| $384.0M▲ 356% | $84.2M | $291.4M | |
| Net income attributable to noncontrolling interests | |||
| −$75.2M▼ 11% | −$67.5M | −$78.7M | |
| −$32.0M▼ 1234% | −$2.4M | −$22.5M | |
| $276.8M▲ 1839% | $14.3M | $190.2M | |
| Basic earnings per common share / unit attributable to the Company | |||
| $1.75▲ 1844% | $0.09 | $1.21 | |
| 158.3M shares▲ 0.5% | 157.5M shares | 156.9M shares | |
| Diluted earnings per common share / unit attributable to the Company | |||
| $1.74▲ 1833% | $0.09 | $1.21 | |
| 158.9M shares▲ 0.7% | 157.8M shares | 157.2M shares | |
Split by Boston Properties Limited Partnership, Parking and Other, Parking and Other | Boston Properties Limited Partnership, Hotel and more
| Boston Properties Limited Partnership | |||
|---|---|---|---|
| Leases (Lease) | $3.2B | $3.2B | $3.1B |
| Sales (Total revenue) | $3.5B | $3.4B | $3.3B |
| Buildings and equipment (Rental) | $1.3B | $1.3B | $1.2B |
| Running the company (general and administrative) (General and administrative) | $168.8M | $160.0M | $170.2M |
| Other item (Transaction costs) | $2.7M | $1.6M | $4.3M |
| Wear and tear (depreciation and amortization) (Depreciation and amortization) | $905.3M | $880.4M | – |
| Total costs (Total expenses) | $2.5B | $2.4B | $2.2B |
| Share of profit from part-owned businesses (Loss from unconsolidated joint ventures) | −$103.6M | −$343.2M | −$239.5M |
| Gains or losses (Gains on sales of real estate) | $179.3M | $602.0K | $517.0K |
| Gains or losses (Loss on sales-type lease) | −$2.5M | $0 | $0 |
| Other item (Interest and other income (loss)) | $35.8M | $60.2M | $70.0M |
| Gains or losses on investments (Gains from investments in securities) | $5.5M | $4.4M | $5.6M |
| Hedges (Losses from interest rate contracts) | $0 | $0 | −$79.0K |
| Value changes not yet cashed in (Unrealized gain (loss) on non-real estate investments) | −$346.0K | $546.0K | $239.0K |
| Write-down (impairment) (Impairment loss) | −$82.9M | −$13.6M | $0 |
| Debt (Loss from early extinguishment of debt) | −$338.0K | $0 | $0 |
| Interest paid on debt (Interest expense) | −$653.1M | −$645.1M | −$579.6M |
| Profit, including partners' share (Net income) | $396.3M | $91.0M | $298.4M |
| Partners' share (non-controlling interest) (Noncontrolling interests in property partnerships) | −$75.2M | −$67.5M | −$78.7M |
| Profit (net income) (Net income attributable to BXP, Inc.) | $321.1M | $23.5M | $219.8M |
| Per share (Earnings Per Share After Allocation of Undistributed Earnings to Participating Securities Basic) | $1.83 | $0.13 | $1.26 |
| Average number of shares (Weighted average number of common shares / units outstanding (in shares / units)) | 175.9M shares | 175.4M shares | 174.8M shares |
| Profit per share, counting promised shares (diluted EPS) (Diluted Earnings: Net income (Loss), Per Share Amount) | $1.82 | $0.13 | $1.25 |
| Average number of shares, counting promised shares (Weighted average number of common and common equivalent shares / units outstanding (in shares / units)) | 176.4M shares | 175.7M shares | 175.1M shares |
| Parking and Other | |||
| Sales, including sales taxes collected (Other revenue) | $143.3M | $135.1M | $112.9M |
| Parking and Other | Boston Properties Limited Partnership | |||
| Sales, including sales taxes collected (Other revenue) | $143.3M | $135.1M | $112.9M |
| Hotel | |||
| Sales, including sales taxes collected (Other revenue) | $50.0M | $51.2M | $47.4M |
| Cost of making what it sold (Operating expense) | $35.6M | $35.3M | $32.2M |
| Hotel | Boston Properties Limited Partnership | |||
| Sales, including sales taxes collected (Other revenue) | $50.0M | $51.2M | $47.4M |
| Cost of making what it sold (Operating expense) | $35.6M | $35.3M | $32.2M |
| Management Service | |||
| Sales, including sales taxes collected (Other revenue) | $36.6M | $28.1M | $40.9M |
| Management Service | Boston Properties Limited Partnership | |||
| Sales, including sales taxes collected (Other revenue) | $36.6M | $28.1M | $40.9M |
| Real Estate, Other | |||
| Sales, including sales taxes collected (Other revenue) | $16.4M | $16.5M | $17.8M |
| Cost of making what it sold (Operating expense) | $16.4M | $16.5M | $17.8M |
| Real Estate, Other | Boston Properties Limited Partnership | |||
| Sales, including sales taxes collected (Other revenue) | $16.4M | $16.5M | $17.8M |
| Cost of making what it sold (Operating expense) | $16.4M | $16.5M | $17.8M |
Every line as the company filed it (USD ($), shares in Thousands, $ in Thousands), shown in full dollars. See this statement on SEC.
Extra: What other gains and losses were there?Statement of comprehensive income: Profit, plus gains and losses that skip the income statement.
Some value changes don't count as profit yet: currency moves on businesses abroad, rises or falls in investments it hasn't sold, and some hedges and pension changes. They are added to profit here to give comprehensive income, and they build up in shareholders' equity.
Every line, explained
| Line (tap for what it means) | 12 months to Dec 31, 2025 | 12 months to Dec 31, 2024 | 12 months to Dec 31, 2023 |
|---|---|---|---|
| $384.0M | $84.2M | $291.4M | |
| Other comprehensive income (loss) | |||
| −$19.6M | $9.2M | −$14.4M | |
| $8.1M | $12.6M | $6.7M | |
| −$11.5M | $21.8M | −$7.7M | |
| $372.5M | $106.0M | $283.7M | |
| −$107.2M | −$69.9M | −$101.2M | |
| $626.0K | −$2.7M | $274.0K | |
| $266.0M | $33.3M | $182.8M | |
Split by Boston Properties Limited Partnership
| Boston Properties Limited Partnership | |||
|---|---|---|---|
| Profit, including partners' share (Net Income) | $396.3M | $91.0M | $298.4M |
| Other gains and losses not in profit (other comprehensive income) (Effective portion of interest rate contracts) | −$19.6M | $9.2M | −$14.4M |
| Wear and tear (depreciation and amortization) (Amortization of interest rate contracts (1)) | $8.1M | $12.6M | $6.7M |
| Other gains and losses not in profit (other comprehensive income) (Other comprehensive income (loss)) | −$11.5M | $21.8M | −$7.7M |
| Partners' share (non-controlling interest) (Comprehensive income) | $384.8M | $112.8M | $290.7M |
| Partners' share (non-controlling interest) (Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest) | −$75.8M | −$68.1M | −$79.2M |
| Profit plus other gains and losses (comprehensive income) (Comprehensive income attributable to BXP, Inc.) | $309.1M | $44.7M | $211.5M |