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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Rental and other revenues $ 180,185 $ 166,269 $ 526,876 $ 497,988
Operating expenses:        
Rental property and other expenses 61,234 58,620 177,484 173,715
Depreciation and amortization 56,973 52,923 168,934 161,734
Impairments of real estate assets 1,445 0 1,445 0
General and administrative 9,247 9,863 29,787 29,327
Total operating expenses 128,899 121,406 377,650 364,776
Interest expense:        
Contractual 16,395 17,722 48,763 56,111
Amortization of debt issuance costs 796 844 2,445 2,645
Total interest expense 17,191 18,566 51,208 58,756
Other income:        
Interest and other income 558 833 1,806 1,884
Gains on debt extinguishment 0 0 826 0
Total other income 558 833 2,632 1,884
Income from continuing operations before disposition of investment properties and activity in unconsolidated affiliates 34,653 27,130 100,650 76,340
Gains on disposition of property 19,849 3,902 25,181 14,160
Equity in earnings of unconsolidated affiliates 5,047 2,808 6,757 5,010
Income from continuing operations 59,549 33,840 132,588 95,510
Discontinued operations:        
Income from discontinued operations 0 0 0 4,097
Net gains on disposition of discontinued operations 0 0 0 414,496
Total income from discontinued operations 0 0 0 418,593
Net income 59,549 33,840 132,588 514,103
Net (income) attributable to noncontrolling interests in the Operating Partnership (1,571) (926) (3,502) (14,876)
Net (income) attributable to noncontrolling interests in consolidated affiliates (315) (319) (914) (941)
Dividends on Preferred Stock (623) (624) (1,869) (1,877)
Net income available for common stockholders $ 57,040 $ 31,971 $ 126,303 $ 496,409
Earnings per Common Share – basic:        
Income from continuing operations available for common stockholders (in dollars per share) $ 0.55 $ 0.32 $ 1.23 $ 0.92
Income from discontinued operations available for common stockholders (in dollars per share) 0.00 0.00 0.00 4.16
Net income available for common stockholders (in dollars per share) $ 0.55 $ 0.32 $ 1.23 $ 5.08
Weighted average Common Shares outstanding - basic (in shares) 103,237 98,973 102,489 97,669
Earnings per Common Share - diluted:        
Income from continuing operations available for common stockholders (in dollars per share) $ 0.55 $ 0.32 $ 1.23 $ 0.92
Income from discontinued operations available for common stockholders (in dollars per share) 0.00 0.00 0.00 4.16
Net income available for common stockholders (in dollars per share) $ 0.55 $ 0.32 $ 1.23 $ 5.08
Weighted average Common Shares outstanding - diluted (in shares) 106,145 101,939 105,402 100,645
Dividends declared per Common Share (in dollars per share) $ 0.440 $ 0.425 $ 1.320 $ 1.275
Net income available for common stockholders:        
Income from continuing operations available for common stockholders $ 57,040 $ 31,971 $ 126,303 $ 90,081
Income from discontinued operations available for common stockholders 0 0 0 406,328
Net income available for common stockholders 57,040 31,971 126,303 496,409
Highwoods Realty Limited Partnership [Member]        
Rental and other revenues 180,185 166,269 526,876 497,988
Operating expenses:        
Rental property and other expenses 61,234 58,620 177,484 173,715
Depreciation and amortization 56,973 52,923 168,934 161,734
Impairments of real estate assets 1,445 0 1,445 0
General and administrative 9,247 9,863 29,787 29,327
Total operating expenses 128,899 121,406 377,650 364,776
Interest expense:        
Contractual 16,395 17,722 48,763 56,111
Amortization of debt issuance costs 796 844 2,445 2,645
Total interest expense 17,191 18,566 51,208 58,756
Other income:        
Interest and other income 558 833 1,806 1,884
Gains on debt extinguishment 0 0 826 0
Total other income 558 833 2,632 1,884
Income from continuing operations before disposition of investment properties and activity in unconsolidated affiliates 34,653 27,130 100,650 76,340
Gains on disposition of property 19,849 3,902 25,181 14,160
Equity in earnings of unconsolidated affiliates 5,047 2,808 6,757 5,010
Income from continuing operations 59,549 33,840 132,588 95,510
Discontinued operations:        
Income from discontinued operations 0 0 0 4,097
Net gains on disposition of discontinued operations 0 0 0 414,496
Total income from discontinued operations 0 0 0 418,593
Net income 59,549 33,840 132,588 514,103
Net (income) attributable to noncontrolling interests in consolidated affiliates (315) (319) (914) (941)
Distributions on Preferred Units (623) (624) (1,869) (1,877)
Net income available for common unitholders $ 58,611 $ 32,897 $ 129,805 $ 511,285
Earnings per Common Unit - basic:        
Income from continuing operations available for common unitholders (in dollars per share) $ 0.55 $ 0.32 $ 1.24 $ 0.93
Income from discontinued operations available for common unitholders (in dollars per share) 0.00 0.00 0.00 4.18
Net income available for common unitholders (in dollars per share) $ 0.55 $ 0.32 $ 1.24 $ 5.11
Weighted average Common Units outstanding - basic (in shares) 105,660 101,422 104,914 100,142
Earnings per Common Unit - diluted:        
Income from continuing operations available for common unitholders (in dollars per share) $ 0.55 $ 0.32 $ 1.24 $ 0.92
Income from discontinued operations available for common unitholders (in dollars per share) 0.00 0.00 0.00 4.18
Net income available for common unitholders (in dollars per share) $ 0.55 $ 0.32 $ 1.24 $ 5.10
Weighted average Common Units outstanding - diluted (in shares) 105,736 101,530 104,993 100,236
Distributions declared per Common Unit (in dollars per unit) $ 0.440 $ 0.425 $ 1.320 $ 1.275
Net income available for common unitholders:        
Income from continuing operations available for common unitholders $ 58,611 $ 32,897 $ 129,805 $ 92,692
Income from discontinued operations available for common unitholders 0 0 0 418,593
Net income available for common unitholders $ 58,611 $ 32,897 $ 129,805 $ 511,285