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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Rental and other revenues $ 147,294 $ 123,418 $ 415,961 $ 368,029
Operating expenses:        
Rental property and other expenses 55,365 45,904 151,802 134,102
Depreciation and amortization 48,124 37,041 130,390 110,656
General and administrative 8,969 9,725 27,948 28,298
Total operating expenses 112,458 92,670 310,140 273,056
Interest expense:        
Contractual 22,683 22,910 67,879 70,309
Amortization of deferred financing costs 963 907 2,860 2,709
Financing obligations 26 (205) 87 (357)
Total interest expense 23,672 23,612 70,826 72,661
Other income:        
Interest and other income 1,582 1,916 4,982 5,883
Losses on debt extinguishment (32) 0 (196) (973)
Total other income 1,550 1,916 4,786 4,910
Income from continuing operations before disposition of property and condominiums and acquisition of controlling interest in and equity in earnings/(losses) of unconsolidated affiliates 12,714 9,052 39,781 27,222
Gains/(losses) on disposition of property 34 0 (3) 0
Gains on for-sale residential condominiums 0 80 0 255
Gain on acquisition of controlling interest in unconsolidated affiliate 7,451 0 7,451 0
Equity in earnings/(losses) of unconsolidated affiliates (3,173) 1,324 (1,824) 2,670
Income from continuing operations 17,026 10,456 45,405 30,147
Discontinued operations:        
Income from discontinued operations 1,096 2,404 3,843 9,024
Impairments of real estate assets 0 0 (2,194) 0
Net gains on disposition of discontinued operations 37,946 22,936 52,353 29,455
Total discontinued operations 39,042 25,340 54,002 38,479
Net income 56,068 35,796 99,407 68,626
Net (income) attributable to noncontrolling interests in the Operating Partnership (1,889) (1,653) (3,713) (3,166)
Net (income) attributable to noncontrolling interests in consolidated affiliates (203) (159) (593) (566)
Dividends on Preferred Stock (627) (627) (1,881) (1,881)
Net income available for common stockholders 53,349 33,357 93,220 63,013
Earnings per Common Share – basic:        
Income from continuing operations available for common stockholders (in dollars per share) $ 0.18 $ 0.12 $ 0.49 $ 0.35
Income from discontinued operations available for common stockholders (in dollars per share) $ 0.43 $ 0.32 $ 0.62 $ 0.49
Net income available for common stockholders (in dollars per share) $ 0.61 $ 0.44 $ 1.11 $ 0.84
Weighted average Common Shares outstanding - basic (in shares) 87,467 [1],[2] 76,590 [1],[2] 83,793 [1],[2] 74,703 [1],[2]
Earnings per Common Share - diluted:        
Income from continuing operations available for common stockholders (in dollars per share) $ 0.18 $ 0.12 $ 0.49 $ 0.35
Income from discontinued operations available for common stockholders (in dollars per share) $ 0.43 $ 0.31 $ 0.62 $ 0.49
Net income available for common stockholders (in dollars per share) $ 0.61 $ 0.43 $ 1.11 $ 0.84
Weighted average Common Shares outstanding - diluted (in shares) 90,769 [1] 80,495 [1] 87,443 [1] 78,568 [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 stockholders 15,693 9,211 41,247 26,365
Income from discontinued operations available for common stockholders 37,656 24,146 51,973 36,648
Net income available for common stockholders 53,349 33,357 93,220 63,013
Highwoods Realty Limited Partnership [Member]
       
Rental and other revenues 147,294 123,418 415,961 368,029
Operating expenses:        
Rental property and other expenses 55,343 45,830 151,784 133,907
Depreciation and amortization 48,124 37,041 130,390 110,656
General and administrative 8,991 9,799 27,966 28,493
Total operating expenses 112,458 92,670 310,140 273,056
Interest expense:        
Contractual 22,683 22,910 67,879 70,309
Amortization of deferred financing costs 963 907 2,860 2,709
Financing obligations 26 (205) 87 (357)
Total interest expense 23,672 23,612 70,826 72,661
Other income:        
Interest and other income 1,582 1,916 4,982 5,883
Losses on debt extinguishment (32) 0 (196) (973)
Total other income 1,550 1,916 4,786 4,910
Income from continuing operations before disposition of property and condominiums and acquisition of controlling interest in and equity in earnings/(losses) of unconsolidated affiliates 12,714 9,052 39,781 27,222
Gains/(losses) on disposition of property 34 0 (3) 0
Gains on for-sale residential condominiums 0 80 0 255
Gain on acquisition of controlling interest in unconsolidated affiliate 7,451 0 7,451 0
Equity in earnings/(losses) of unconsolidated affiliates (3,174) 1,328 (1,875) 2,679
Income from continuing operations 17,025 10,460 45,354 30,156
Discontinued operations:        
Income from discontinued operations 1,096 2,404 3,843 9,024
Impairments of real estate assets 0 0 (2,194) 0
Net gains on disposition of discontinued operations 37,946 22,936 52,353 29,455
Total discontinued operations 39,042 25,340 54,002 38,479
Net income 56,067 35,800 99,356 68,635
Net (income) attributable to noncontrolling interests in consolidated affiliates (203) (159) (593) (566)
Distributions on Preferred Units (627) (627) (1,881) (1,881)
Net income available for common unitholders 55,237 35,014 96,882 66,188
Earnings per Common Unit - basic:        
Income from continuing operations available for common unitholders (in dollars per share) $ 0.18 $ 0.12 $ 0.49 $ 0.36
Income from discontinued operations available for common unitholders (in dollars per share) $ 0.43 $ 0.32 $ 0.62 $ 0.49
Net income available for common unitholders (in dollars per share) $ 0.61 $ 0.44 $ 1.11 $ 0.85
Weighted average Common Units outstanding - basic (in shares) 90,259 [2],[3] 79,949 [2],[3] 86,920 [2],[3] 78,032 [2],[3]
Earnings per Common Unit - diluted:        
Income from continuing operations available for common unitholders (in dollars per share) $ 0.18 $ 0.12 $ 0.49 $ 0.36
Income from discontinued operations available for common unitholders (in dollars per share) $ 0.43 $ 0.32 $ 0.62 $ 0.49
Net income available for common unitholders (in dollars per share) $ 0.61 $ 0.44 $ 1.11 $ 0.85
Weighted average Common Units outstanding - diluted (in shares) 90,360 [3] 80,086 [3] 87,034 [3] 78,159 [3]
Distributions declared per Common Unit (in dollars per unit) $ 0.425 $ 0.425 $ 1.275 $ 1.275
Net income available for common unitholders:        
Income from continuing operations available for common unitholders 16,195 9,674 42,880 27,709
Income from discontinued operations available for common unitholders 39,042 25,340 54,002 38,479
Net income available for common unitholders $ 55,237 $ 35,014 $ 96,882 $ 66,188
[1] There were 0.3 million and 0.5 million options outstanding during the three months ended September 30, 2013 and 2012, respectively, and 0.3 million and 0.5 million options outstanding during the nine months ended September 30, 2013 and 2012, 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 where dividends on such restricted stock are non-forfeitable.
[3] There were 0.3 million and 0.5 million options outstanding during the three months ended September 30, 2013 and 2012, respectively, and 0.3 million and 0.5 million options outstanding during the nine months ended September 30, 2013 and 2012, respectively, that were not included in the computation of diluted earnings per unit because the impact of including such options would be anti-dilutive.