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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Rental and other revenues $ 166,269 $ 150,766 $ 497,988 $ 444,545
Operating expenses:        
Rental property and other expenses 58,620 54,430 173,715 159,314
Depreciation and amortization 52,923 50,963 161,734 145,758
General and administrative 9,863 8,990 29,327 28,898
Total operating expenses 121,406 114,383 364,776 333,970
Interest expense:        
Contractual 17,722 20,484 56,111 61,783
Amortization of debt issuance costs 844 873 2,645 2,501
Financing obligation 0 0 0 162
Total interest expense 18,566 21,357 58,756 64,446
Other income:        
Interest and other income 833 379 1,884 1,481
Losses on debt extinguishment 0 0 0 (220)
Total other income 833 379 1,884 1,261
Income from continuing operations before disposition of investment properties and activity in unconsolidated affiliates 27,130 15,405 76,340 47,390
Gains on disposition of property 3,902 7,012 14,160 10,581
Gain on disposition of investment in unconsolidated affiliate 0 4,155 0 4,155
Equity in earnings of unconsolidated affiliates 2,808 780 5,010 4,367
Income from continuing operations 33,840 27,352 95,510 66,493
Discontinued operations:        
Income from discontinued operations 0 4,265 4,097 12,850
Net gains on disposition of discontinued operations 0 0 414,496 0
Total income from discontinued operations 0 4,265 418,593 12,850
Net income 33,840 31,617 514,103 79,343
Net (income) attributable to noncontrolling interests in the Operating Partnership (926) (918) (14,876) (2,296)
Net (income) attributable to noncontrolling interests in consolidated affiliates (319) (324) (941) (948)
Dividends on Preferred Stock (624) (626) (1,877) (1,879)
Net income available for common stockholders $ 31,971 $ 29,749 $ 496,409 $ 74,220
Earnings per Common Share – basic:        
Income from continuing operations available for common stockholders (in dollars per share) $ 0.32 $ 0.27 $ 0.92 $ 0.66
Income from discontinued operations available for common stockholders (in dollars per share) 0.00 0.04 4.16 0.13
Net income available for common stockholders (in dollars per share) $ 0.32 $ 0.31 $ 5.08 $ 0.79
Weighted average Common Shares outstanding - basic (in shares) 98,973 94,693 97,669 93,996
Earnings per Common Share - diluted:        
Income from continuing operations available for common stockholders (in dollars per share) $ 0.32 $ 0.27 $ 0.92 $ 0.66
Income from discontinued operations available for common stockholders (in dollars per share) 0.00 0.04 4.16 0.13
Net income available for common stockholders (in dollars per share) $ 0.32 $ 0.31 $ 5.08 $ 0.79
Weighted average Common Shares outstanding - diluted (in shares) [1] 101,939 97,661 100,645 97,003
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 $ 31,971 $ 25,612 $ 90,081 $ 61,759
Income from discontinued operations available for common stockholders 0 4,137 406,328 12,461
Net income available for common stockholders 31,971 29,749 496,409 74,220
Highwoods Realty Limited Partnership [Member]        
Rental and other revenues 166,269 150,766 497,988 444,545
Operating expenses:        
Rental property and other expenses 58,620 54,430 173,715 159,314
Depreciation and amortization 52,923 50,963 161,734 145,758
General and administrative 9,863 8,990 29,327 28,898
Total operating expenses 121,406 114,383 364,776 333,970
Interest expense:        
Contractual 17,722 20,484 56,111 61,783
Amortization of debt issuance costs 844 873 2,645 2,501
Financing obligation 0 0 0 162
Total interest expense 18,566 21,357 58,756 64,446
Other income:        
Interest and other income 833 379 1,884 1,481
Losses on debt extinguishment 0 0 0 (220)
Total other income 833 379 1,884 1,261
Income from continuing operations before disposition of investment properties and activity in unconsolidated affiliates 27,130 15,405 76,340 47,390
Gains on disposition of property 3,902 7,012 14,160 10,581
Gain on disposition of investment in unconsolidated affiliate 0 4,155 0 4,155
Equity in earnings of unconsolidated affiliates 2,808 780 5,010 4,367
Income from continuing operations 33,840 27,352 95,510 66,493
Discontinued operations:        
Income from discontinued operations 0 4,265 4,097 12,850
Net gains on disposition of discontinued operations 0 0 414,496 0
Total income from discontinued operations 0 4,265 418,593 12,850
Net income 33,840 31,617 514,103 79,343
Net (income) attributable to noncontrolling interests in consolidated affiliates (319) (324) (941) (948)
Distributions on Preferred Units (624) (626) (1,877) (1,879)
Net income available for common unitholders $ 32,897 $ 30,667 $ 511,285 $ 76,516
Earnings per Common Unit - basic:        
Income from continuing operations available for common unitholders (in dollars per share) $ 0.32 $ 0.27 $ 0.93 $ 0.66
Income from discontinued operations available for common unitholders (in dollars per share) 0.00 0.05 4.18 0.13
Net income available for common unitholders (in dollars per share) $ 0.32 $ 0.32 $ 5.11 $ 0.79
Weighted average Common Units outstanding - basic (in shares) 101,422 97,194 100,142 96,505
Earnings per Common Unit - diluted:        
Income from continuing operations available for common unitholders (in dollars per share) $ 0.32 $ 0.27 $ 0.92 $ 0.66
Income from discontinued operations available for common unitholders (in dollars per share) 0.00 0.05 4.18 0.13
Net income available for common unitholders (in dollars per share) $ 0.32 $ 0.32 $ 5.10 $ 0.79
Weighted average Common Units outstanding - diluted (in shares) [2] 101,530 97,252 100,236 96,594
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 $ 32,897 $ 26,402 $ 92,692 $ 63,666
Income from discontinued operations available for common unitholders 0 4,265 418,593 12,850
Net income available for common unitholders $ 32,897 $ 30,667 $ 511,285 $ 76,516
[1] Includes all unvested restricted stock where dividends on such restricted stock are non-forfeitable.
[2] Includes all unvested restricted stock where dividends on such restricted stock are non-forfeitable.