XML 21 R4.htm IDEA: XBRL DOCUMENT v2.3.0.15
Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Per Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Rental and other revenues$ 122,086$ 115,528$ 354,122$ 343,796
Operating expenses:    
Rental property and other expenses46,01943,339128,360122,986
Depreciation and amortization36,32034,183103,467100,081
Impairment of assets held for use2,42902,4290
General and administrative12,2128,88227,98324,369
Total operating expenses96,98086,404262,239247,436
Interest expense:    
Contractual23,35622,02068,72765,527
Amortization of deferred financing costs8068582,4482,528
Financing obligations2284606651,330
Total interest expense24,39023,33871,84069,385
Other income:    
Interest and other income1,5051,7095,2774,374
Loss on debt extinguishment0(85)(24)(85)
Total other income1,5051,6245,2534,289
Income from continuing operations before disposition of property, condominiums and investment in unconsolidated affiliates and equity in earnings of unconsolidated affiliates2,2217,41025,29631,264
Gains on disposition of property2621946255
Gains/(losses) on for-sale residential condominiums(476)54(322)407
Gains on disposition of investment in unconsolidated affiliates2,28202,28225,330
Equity in earnings of unconsolidated affiliates1,1131,0183,9332,701
Income from continuing operations5,4028,50131,65159,757
Discontinued operations:    
Income from discontinued operations2692728971,233
Net gains/(losses) on disposition of discontinued operations2,57302,573(86)
Total discontinued operations2,8422723,4701,147
Net income8,2448,77335,12160,904
Net (income) attributable to noncontrolling interests in the Operating Partnership(366)(366)(1,496)(2,819)
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates(249)148(554)(281)
Dividends on Preferred Stock(627)(1,677)(3,926)(5,031)
Excess of Preferred Stock redemption/repurchase cost over carrying value00(1,895)0
Net income available for common stockholders7,0026,87827,25052,773
Earnings per Common Share - basic:    
Income from continuing operations available for common stockholders (in dollars per share)$ 0.06$ 0.10$ 0.33$ 0.72
Income from discontinued operations available for common stockholders (in dollars per share)$ 0.04$ 0.00$ 0.05$ 0.02
Net income available for common stockholders (in dollars per share)$ 0.10$ 0.10$ 0.38$ 0.74
Weighted average Common Shares outstanding - basic (in shares)72,49271,63172,17671,549
Earnings per Common Share - diluted:    
Income from continuing operations available for common stockholders (in dollars per share)$ 0.06$ 0.10$ 0.33$ 0.72
Income from discontinued operations available for common stockholders (in dollars per share)$ 0.04$ 0.00$ 0.05$ 0.02
Net income available for common stockholders (in dollars per share)$ 0.10$ 0.10$ 0.38$ 0.74
Weighted average Common Shares outstanding - diluted (in shares)76,402[1]75,638[1]76,127[1]75,537[1]
Dividends declared per Common Share (in dollars per share)$ 0.425$ 0.425$ 1.275$ 1.275
Net income available for common stockholders:    
Income from continuing operations available for common stockholders4,3016,62023,95351,684
Income from discontinued operations available for common stockholders2,7012583,2971,089
Net income available for common stockholders7,0026,87827,25052,773
Highwoods Realty Limited Partnership [Member]
    
Rental and other revenues122,086115,528354,122343,796
Operating expenses:    
Rental property and other expenses45,95143,339128,378122,776
Depreciation and amortization36,32034,183103,467100,081
Impairment of assets held for use2,42902,4290
General and administrative12,2808,88227,96524,579
Total operating expenses96,98086,404262,239247,436
Interest expense:    
Contractual23,35622,02068,72765,527
Amortization of deferred financing costs8068582,4482,528
Financing obligations2284606651,330
Total interest expense24,39023,33871,84069,385
Other income:    
Interest and other income1,5051,7095,2774,374
Loss on debt extinguishment0(85)(24)(85)
Total other income1,5051,6245,2534,289
Income from continuing operations before disposition of property, condominiums and investment in unconsolidated affiliates and equity in earnings of unconsolidated affiliates2,2217,41025,29631,264
Gains on disposition of property2621946255
Gains/(losses) on for-sale residential condominiums(476)54(322)407
Gains on disposition of investment in unconsolidated affiliates2,28202,28225,330
Equity in earnings of unconsolidated affiliates1,1131,0333,9452,705
Income from continuing operations5,4028,51631,66359,761
Discontinued operations:    
Income from discontinued operations2692728971,233
Net gains/(losses) on disposition of discontinued operations2,57302,573(86)
Total discontinued operations2,8422723,4701,147
Net income8,2448,78835,13360,908
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates(249)148(554)(281)
Distributions on Preferred Units(627)(1,677)(3,926)(5,031)
Excess of Preferred Unit redemption/repurchase cost over carrying value00(1,895)0
Net income available for common unitholders7,3687,25928,75855,596
Earnings per Common Unit - basic:    
Income from continuing operations available for common unitholders (in dollars per share)$ 0.06$ 0.10$ 0.33$ 0.72
Income from discontinued operations available for common unitholders (in dollars per share)$ 0.04$ 0.00$ 0.05$ 0.02
Net income available for common unitholders (in dollars per share)$ 0.10$ 0.10$ 0.38$ 0.74
Weighted average Common Units outstanding - basic (in shares)75,85575,01975,54974,945
Earnings per Common Unit - diluted:    
Income from continuing operations available for common unitholders (in dollars per share)$ 0.06$ 0.10$ 0.33$ 0.72
Income from discontinued operations available for common unitholders (in dollars per share)$ 0.04$ 0.00$ 0.05$ 0.02
Net income available for common unitholders (in dollars per share)$ 0.10$ 0.10$ 0.38$ 0.74
Weighted average Common Units outstanding - diluted (in shares)75,99375,22975,71875,128
Distributions declared per Common Unit (in dollars per share)$ 0.425$ 0.425$ 1.275$ 1.275
Net income available for common unitholders:    
Income from continuing operations available for common unitholders4,5266,98725,28854,449
Income from discontinued operations available for common unitholders2,8422723,4701,147
Net income available for common unitholders$ 7,368$ 7,259$ 28,758$ 55,596
[1](1) There were 0.4 million and 0.7 million options outstanding during the three months ended September 30, 2011 and 2010, respectively, and 0.3 million and 0.7 million options outstanding during the nine months ended September 30, 2011 and 2010, respectively, that were not included in the computation of diluted earnings per share because the impact of including such options would be anti-dilutive.