BXP, Inc. (BXP) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that BXP, Inc. surfaced in its latest filing.

• For the year ended December 31, 2025, BXP and BPLP recognized impairments of long-lived assets of approximately $85.8 million and $82.9 million respectively.December 31, 2025
• One investment in an unconsolidated joint venture recognized an other-than-temporary impairment of approximately $145.1 million.
• We entered into capped call transactions with certain option counterparties in connection with our 2.00% Exchangeable Senior Notes due 2030 offering in September 2025.September 2025
• BXP did not obtain new owner’s title insurance policies for properties acquired at BXP’s initial public offering in June 1997.June 1997
• BPLP has issued a $20.0 million guarantee to cover liabilities of IXP.
• As of December 31, 2025, the U.S. Government was one of our clients.December 31, 2025
• As of February 20, 2026, we had $2.3 billion outstanding indebtedness bearing interest at a variable rate.February 20, 2026
• As of December 31, 2025, we had one tax protection agreement that could restrict our ability to repay or finance debt.December 31, 2025
• Consolidated Debt was approximately $15.6 billion as of February 20, 2026.February 20, 2026
• Consolidated Debt to Consolidated Market Capitalization ratio was 59.10% as of February 20, 2026.February 20, 2026
• Tax deficiency notices received to date from ongoing audits have not been material.