XML 74 R20.htm IDEA: XBRL DOCUMENT v2.4.0.6
Earnings Per Share
 6 Months Ended
Jun. 30, 2012
Earnings Per Share Basic and Diluted [Line Items]  
Earnings Per Share
Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share:

 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2012
 
2011
 
2012
 
2011
Earnings per Common Share - basic:
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
Income from continuing operations
$
12,357

 
$
13,695

 
$
25,020

 
$
25,223

Net (income) attributable to noncontrolling interests in the Operating Partnership from continuing operations
(584
)
 
(586
)
 
(1,133
)
 
(1,047
)
Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations
(223
)
 
(182
)
 
(407
)
 
(305
)
Dividends on Preferred Stock
(627
)
 
(1,622
)
 
(1,254
)
 
(3,299
)
Excess of Preferred Stock redemption/repurchase cost over carrying value
—

 
(1,895
)
 
—

 
(1,895
)
Income from continuing operations available for common stockholders
10,923

 
9,410

 
22,226

 
18,677

Income from discontinued operations
2,141

 
739

 
7,810

 
1,654

Net (income) attributable to noncontrolling interests in the Operating Partnership from discontinued operations
(102
)
 
(37
)
 
(380
)
 
(83
)
Income from discontinued operations available for common stockholders
2,039

 
702

 
7,430

 
1,571

Net income available for common stockholders
$
12,962

 
$
10,112

 
$
29,656

 
$
20,248

Denominator:
 
 
 
 
 
 
 
Denominator for basic earnings per Common Share – weighted average shares (1) (2)
74,662

 
72,211

 
73,749

 
72,015

Earnings per Common Share - basic:
 
 
 
 
 
 
 
Income from continuing operations available for common stockholders
$
0.15

 
$
0.13

 
$
0.30

 
$
0.26

Income from discontinued operations available for common stockholders
0.02

 
0.01

 
0.10

 
0.02

Net income available for common stockholders
$
0.17

 
$
0.14

 
$
0.40

 
$
0.28

Earnings per Common Share - diluted:
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
Income from continuing operations
$
12,357

 
$
13,695

 
$
25,020

 
$
25,223

Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations
(223
)
 
(182
)
 
(407
)
 
(305
)
Dividends on Preferred Stock
(627
)
 
(1,622
)
 
(1,254
)
 
(3,299
)
Excess of Preferred Stock redemption/repurchase cost over carrying value
—

 
(1,895
)
 
—

 
(1,895
)
Income from continuing operations available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership
11,507

 
9,996

 
23,359

 
19,724

Income from discontinued operations available for common stockholders
2,141

 
739

 
7,810

 
1,654

Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership
$
13,648

 
$
10,735

 
$
31,169

 
$
21,378

Denominator:
 
 
 
 
 
 
 
Denominator for basic earnings per Common Share –weighted average shares (1) (2)
74,662

 
72,211

 
73,749

 
72,015

Add:
 
 
 
 
 
 
 
Stock options using the treasury method
141

 
202

 
129

 
185

Noncontrolling interests Common Units
3,718

 
3,784

 
3,723

 
3,787

Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions (1)
78,521

 
76,197

 
77,601

 
75,987

Earnings per Common Share - diluted:
 
 
 
 
 
 
 
Income from continuing operations available for common stockholders
$
0.15

 
$
0.13

 
$
0.30

 
$
0.26

Income from discontinued operations available for common stockholders
0.02

 
0.01

 
0.10

 
0.02

Net income available for common stockholders
$
0.17

 
$
0.14

 
$
0.40

 
$
0.28

__________

13.
Earnings Per Share - Continued

(1)
There were 0.5 million and 0.3 million options outstanding during the three months ended June 30, 2012 and 2011, respectively, and 0.5 million and 0.6 million options outstanding during the six months ended June 30, 2012 and 2011, respectively, that were not included in the computation of diluted earnings per share because the impact of including such options would be anti-dilutive.
(2)
Includes all unvested restricted stock since dividends on restricted stock are non-forfeitable.
Highwoods Realty Limited Partnership [Member]
  
Earnings Per Share Basic and Diluted [Line Items]  
Earnings Per Unit
Earnings Per Unit

The following table sets forth the computation of basic and diluted earnings per unit:

 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2012
 
2011
 
2012
 
2011
Earnings per Common Unit - basic:
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
Income from continuing operations
$
12,360

 
$
13,699

 
$
25,025

 
$
25,235

Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations
(223
)
 
(182
)
 
(407
)
 
(305
)
Distributions on Preferred Units
(627
)
 
(1,622
)
 
(1,254
)
 
(3,299
)
Excess of Preferred Unit redemption/repurchase cost over carrying value
—

 
(1,895
)
 
—

 
(1,895
)
Income from continuing operations available for common unitholders
11,510

 
10,000

 
23,364

 
19,736

Income from discontinued operations available for common unitholders
2,141

 
739

 
7,810

 
1,654

Net income available for common unitholders
$
13,651

 
$
10,739

 
$
31,174

 
$
21,390

Denominator:
 
 
 
 
 
 
 
Denominator for basic earnings per Common Unit – weighted average units (1) (2)
77,971

 
75,586

 
77,063

 
75,393

Earnings per Common Unit - basic:
 
 
 
 
 
 
 
Income from continuing operations available for common unitholders
$
0.15

 
$
0.13

 
$
0.30

 
$
0.26

Income from discontinued operations available for common unitholders
0.03

 
0.01

 
0.10

 
0.02

Net income available for common unitholders
$
0.18

 
$
0.14

 
$
0.40

 
$
0.28

Earnings per Common Unit - diluted:
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
Income from continuing operations
$
12,360

 
$
13,699

 
$
25,025

 
$
25,235

Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations
(223
)
 
(182
)
 
(407
)
 
(305
)
Distributions on Preferred Units
(627
)
 
(1,622
)
 
(1,254
)
 
(3,299
)
Excess of Preferred Unit redemption/repurchase cost over carrying value
—

 
(1,895
)
 
—

 
(1,895
)
Income from continuing operations available for common unitholders
11,510

 
10,000

 
23,364

 
19,736

Income from discontinued operations available for common unitholders
2,141

 
739

 
7,810

 
1,654

Net income available for common unitholders
$
13,651

 
$
10,739

 
$
31,174

 
$
21,390

Denominator:
 
 
 
 
 
 
 
Denominator for basic earnings per Common Unit –weighted average units (1) (2)
77,971

 
75,586

 
77,063

 
75,393

Add:
 
 
 
 
 
 
 
Stock options using the treasury method
141

 
202

 
129

 
185

Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions (1)
78,112

 
75,788

 
77,192

 
75,578

Earnings per Common Unit - diluted:
 
 
 
 
 
 
 
Income from continuing operations available for common unitholders
$
0.15

 
$
0.13

 
$
0.30

 
$
0.26

Income from discontinued operations available for common unitholders
0.02

 
0.01

 
0.10

 
0.02

Net income available for common unitholders
$
0.17

 
$
0.14

 
$
0.40

 
$
0.28

__________
(1)
There were 0.5 million and 0.3 million options outstanding during the three months ended June 30, 2012 and 2011, respectively, and 0.5 million and 0.6 million options outstanding during the six months ended June 30, 2012 and 2011, respectively, that were not included in the computation of diluted earnings per unit because the impact of including such options would be anti-dilutive.
(2)
Includes all unvested restricted stock since dividends on restricted stock are non-forfeitable.