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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Rental and other revenues $ 152,722 $ 132,618 $ 301,175 $ 262,995
Operating expenses:        
Rental property and other expenses 55,275 47,317 111,665 93,911
Depreciation and amortization 50,443 40,624 98,608 80,712
Impairments of real estate assets 588 0 588 0
General and administrative 8,733 8,397 19,447 18,979
Total operating expenses 115,039 96,338 230,308 193,602
Interest expense:        
Contractual 20,640 22,398 41,390 45,196
Amortization of deferred financing costs 799 948 1,451 1,897
Financing obligations (226) (60) (266) 61
Total interest expense 21,213 23,286 42,575 47,154
Other income:        
Interest and other income 1,410 1,617 2,809 3,400
Gains/(losses) on debt extinguishment 18 0 18 (164)
Total other income 1,428 1,617 2,827 3,236
Income from continuing operations before disposition of investment properties and activity in unconsolidated affiliates 17,898 14,611 31,119 25,475
Gains/(losses) on disposition of property 5,947 (37) 5,947 (37)
Equity in earnings of unconsolidated affiliates 667 913 638 1,349
Income from continuing operations 24,512 15,487 37,704 26,787
Discontinued operations:        
Income from discontinued operations 0 1,995 0 4,339
Impairments of real estate assets 0 (1,066) 0 (2,194)
Net gains on disposition of discontinued operations 0 13,163 384 14,407
Total discontinued operations 0 14,092 384 16,552
Net income 24,512 29,579 38,088 43,339
Net (income) attributable to noncontrolling interests in the Operating Partnership (742) (1,243) (1,140) (1,824)
Net (income) attributable to noncontrolling interests in consolidated affiliates (438) (187) (861) (390)
Dividends on Preferred Stock (627) (627) (1,254) (1,254)
Net income available for common stockholders 22,705 27,522 34,833 39,871
Earnings per Common Share – basic:        
Income from continuing operations available for common stockholders (in dollars per share) $ 0.25 $ 0.17 $ 0.38 $ 0.30
Income from discontinued operations available for common stockholders (in dollars per share) $ 0.00 $ 0.16 $ 0.01 $ 0.19
Net income available for common stockholders (in dollars per share) $ 0.25 $ 0.33 $ 0.39 $ 0.49
Weighted average Common Shares outstanding - basic (in shares) 90,254 [1],[2] 82,811 [1],[2] 90,111 [1],[2] 81,925 [1],[2]
Earnings per Common Share - diluted:        
Income from continuing operations available for common stockholders (in dollars per share) $ 0.25 $ 0.17 $ 0.38 $ 0.30
Income from discontinued operations available for common stockholders (in dollars per share) $ 0.00 $ 0.16 $ 0.01 $ 0.19
Net income available for common stockholders (in dollars per share) $ 0.25 $ 0.33 $ 0.39 $ 0.49
Weighted average Common Shares outstanding - diluted (in shares) 93,312 [1],[2] 86,631 [1],[2] 93,172 [1],[2] 85,752 [1],[2]
Dividends declared per Common Share (in dollars per share) $ 0.425 $ 0.425 $ 0.850 $ 0.850
Net income available for common stockholders:        
Income from continuing operations available for common stockholders 22,705 14,033 34,461 24,031
Income from discontinued operations available for common stockholders 0 13,489 372 15,840
Net income available for common stockholders 22,705 27,522 34,833 39,871
Highwoods Realty Limited Partnership [Member]
       
Rental and other revenues 152,722 132,618 301,175 262,995
Operating expenses:        
Rental property and other expenses 55,258 47,295 111,632 93,915
Depreciation and amortization 50,443 40,624 98,608 80,712
Impairments of real estate assets 588 0 588 0
General and administrative 8,750 8,419 19,480 18,975
Total operating expenses 115,039 96,338 230,308 193,602
Interest expense:        
Contractual 20,640 22,398 41,390 45,196
Amortization of deferred financing costs 799 948 1,451 1,897
Financing obligations (226) (60) (266) 61
Total interest expense 21,213 23,286 42,575 47,154
Other income:        
Interest and other income 1,410 1,617 2,809 3,400
Gains/(losses) on debt extinguishment 18 0 18 (164)
Total other income 1,428 1,617 2,827 3,236
Income from continuing operations before disposition of investment properties and activity in unconsolidated affiliates 17,898 14,611 31,119 25,475
Gains/(losses) on disposition of property 5,947 (37) 5,947 (37)
Equity in earnings of unconsolidated affiliates 667 916 638 1,299
Income from continuing operations 24,512 15,490 37,704 26,737
Discontinued operations:        
Income from discontinued operations 0 1,995 0 4,339
Impairments of real estate assets 0 (1,066) 0 (2,194)
Net gains on disposition of discontinued operations 0 13,163 384 14,407
Total discontinued operations 0 14,092 384 16,552
Net income 24,512 29,582 38,088 43,289
Net (income) attributable to noncontrolling interests in consolidated affiliates (438) (187) (861) (390)
Distributions on Preferred Units (627) (627) (1,254) (1,254)
Net income available for common unitholders 23,447 28,768 35,973 41,645
Earnings per Common Unit - basic:        
Income from continuing operations available for common unitholders (in dollars per share) $ 0.25 $ 0.17 $ 0.38 $ 0.30
Income from discontinued operations available for common unitholders (in dollars per share) $ 0.00 $ 0.16 $ 0.01 $ 0.19
Net income available for common unitholders (in dollars per share) $ 0.25 $ 0.33 $ 0.39 $ 0.49
Weighted average Common Units outstanding - basic (in shares) 92,782 [1],[3] 86,090 [1],[3] 92,640 [1],[3] 85,223 [1],[3]
Earnings per Common Unit - diluted:        
Income from continuing operations available for common unitholders (in dollars per share) $ 0.25 $ 0.17 $ 0.38 $ 0.30
Income from discontinued operations available for common unitholders (in dollars per share) $ 0.00 $ 0.16 $ 0.01 $ 0.19
Net income available for common unitholders (in dollars per share) $ 0.25 $ 0.33 $ 0.39 $ 0.49
Weighted average Common Units outstanding - diluted (in shares) 92,903 [1],[3] 86,222 [1],[3] 92,763 [1],[3] 85,343 [1],[3]
Distributions declared per Common Unit (in dollars per unit) $ 0.425 $ 0.425 $ 0.850 $ 0.850
Net income available for common unitholders:        
Income from continuing operations available for common unitholders 23,447 14,676 35,589 25,093
Income from discontinued operations available for common unitholders 0 14,092 384 16,552
Net income available for common unitholders $ 23,447 $ 28,768 $ 35,973 $ 41,645
[1] Includes all unvested restricted stock where dividends on such restricted stock are non-forfeitable.
[2] There were 0.3 million options outstanding during the three months ended June 30, 2013 and 0.2 million and 0.3 million options outstanding during the six months ended June 30, 2014 and 2013, respectively, that were not included in the computation of diluted earnings per share because the impact of including such options would be anti-dilutive.
[3] There were 0.3 million options outstanding during the three months ended June 30, 2013 and 0.2 million and 0.3 million options outstanding during the six months ended June 30, 2014 and 2013, respectively, that were not included in the computation of diluted earnings per unit because the impact of including such options would be anti-dilutive.