The following table provides a reconciliation of both the net income attributable to BXP, Inc. and the number of common shares used in the computation of basic earnings per share (“EPS”), which is calculated by dividing net income attributable to BXP, Inc. by the weighted-average number of common shares outstanding during the period. Unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are also participating securities. As such, unvested restricted common stock of BXP and BPLP’s LTIP Units, 2012 OPP Units and MYLTIP Units are considered participating securities. Participating securities are included in the computation of basic EPS of BXP using the two-class method. Participating securities are included in the computation of diluted EPS of BXP using the if-converted method if the impact is dilutive. Because the 2012 OPP Units and 2013 - 2022 MYLTIP Units required, and the 2023 - 2025 MYLTIP Units require, BXP to outperform certain performance thresholds, unless such thresholds have been met by the end of the applicable reporting period, BXP excludes such units from the diluted EPS calculation. Other potentially dilutive common shares, including restricted stock and other securities of BPLP that are exchangeable for BXP’s Common Stock, and the related impact on earnings, are considered when calculating diluted EPS.


	Three months ended June 30, 2025
	Income (Numerator)		Shares (Denominator)	Per Share Amount
	(in thousands, except for per share amounts)
Basic Earnings:
Net income attributable to BXP, Inc.	$	88,977	158,312	$	0.56


Effect of Dilutive Securities:
Stock Based Compensation	—		483	—
Diluted Earnings:
Net income attributable to BXP, Inc.	$	88,977	158,795	$	0.56

	Three months ended June 30, 2024
	Income (Numerator)		Shares (Denominator)	Per Share Amount
	(in thousands, except for per share amounts)
Basic Earnings:
Net income attributable to BXP, Inc.	$	79,615	157,039	$	0.51


Effect of Dilutive Securities:
Stock Based Compensation	—		252	—
Diluted Earnings:
Net income attributable to BXP, Inc.	$	79,615	157,291	$	0.51


	Six months ended June 30, 2025
	Income (Numerator)		Shares (Denominator)	Per Share Amount
	(in thousands, except for per share amounts)
Basic Earnings:
Net income attributable to BXP, Inc.	$	150,161	158,257	$	0.95


Effect of Dilutive Securities:
Stock Based Compensation	—		456	—
Diluted Earnings:
Net income attributable to BXP, Inc.	$	150,161	158,713	$	0.95

	Six months ended June 30, 2024
	Income (Numerator)		Shares (Denominator)	Per Share Amount
	(in thousands, except for per share amounts)
Basic Earnings:
Net income attributable to BXP, Inc.	$	159,498	157,011	$	1.02


Effect of Dilutive Securities:
Stock Based Compensation	—		199	(0.01)
Diluted Earnings:
Net income attributable to BXP, Inc.	$	159,498	157,210	$	1.01

The following table provides a reconciliation of both the net income attributable to Boston Properties Limited Partnership and the number of common units used in the computation of basic earnings per common unit, which is calculated by dividing net income attributable to Boston Properties Limited Partnership by the weighted-average number of common units outstanding during the period. Unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are also participating securities. As such, unvested restricted common stock of BXP and BPLP’s LTIP Units, 2012 OPP Units and MYLTIP Units are considered participating securities. Participating securities are included in the computation of basic earnings per common unit using the two-class method. Participating securities are included in the computation of diluted earnings per common unit using the if-converted method if the impact is dilutive. Because the 2012 OPP Units and 2013 - 2022 MYLTIP Units required, and the 2023 - 2025 MYLTIP Units require, BXP to outperform certain performance thresholds, unless such thresholds have been met by the end of the applicable reporting period, BPLP excludes such units from the diluted earnings per common unit calculation. Other potentially dilutive common units and the related impact on earnings are considered when calculating diluted earnings per common unit. Included in the number of units (the denominator) below are approximately 17,559,000 and 18,369,000 redeemable common units for the three months ended June 30, 2025 and 2024, respectively, and 17,555,000 and 18,321,000 redeemable common units for the six months ended June 30, 2025 and 2024, respectively.


	Three months ended June 30, 2025
	Income (Numerator)		Units (Denominator)	Per Unit Amount
	(in thousands, except for per unit amounts)
Basic Earnings:
Net income attributable to Boston Properties Limited Partnership	$	100,843	175,871	$	0.57


Effect of Dilutive Securities:
Stock Based Compensation	—		483	—
Diluted Earnings:
Net income attributable to Boston Properties Limited Partnership	$	100,843	176,354	$	0.57

	Three months ended June 30, 2024
	Income (Numerator)		Units (Denominator)	Per Unit Amount
	(in thousands, except for per unit amounts)
Basic Earnings:
Net income attributable to Boston Properties Limited Partnership	$	90,827	175,408	$	0.52


Effect of Dilutive Securities:
Stock Based Compensation	—		252	—
Diluted Earnings:
Net income attributable to Boston Properties Limited Partnership	$	90,827	175,660	$	0.52


	Six months ended June 30, 2025
	Income (Numerator)		Units (Denominator)	Per Unit Amount
	(in thousands, except for per unit amounts)
Basic Earnings:
Net income attributable to Boston Properties Limited Partnership	$	170,702	175,812	$	0.97


Effect of Dilutive Securities:
Stock Based Compensation	—		456	—
Diluted Earnings:
Net income attributable to Boston Properties Limited Partnership	$	170,702	176,268	$	0.97

	Six months ended June 30, 2024
	Income (Numerator)		Units (Denominator)	Per Unit Amount
	(in thousands, except for per unit amounts)
Basic Earnings:
Net income attributable to Boston Properties Limited Partnership	$	181,907	175,332	$	1.04


Effect of Dilutive Securities:
Stock Based Compensation	—		199	—
Diluted Earnings:
Net income attributable to Boston Properties Limited Partnership	$	181,907	175,531	$	1.04