Earnings Per Share and Per Unit (Tables)

9 Months Ended

Sep. 30, 2019

Earnings Per Share and Per Unit Basic and Diluted [Line Items]

Earnings Per Share

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

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
Earnings per Common Share - basic:
Numerator:
Net income	$	29,557		$	35,009		$	79,337		$	122,253
Net (income) attributable to noncontrolling interests in the Operating Partnership	(737		)	(902		)	(1,974		)	(3,171		)
Net (income) attributable to noncontrolling interests in consolidated affiliates	(297		)	(324		)	(919		)	(918		)
Dividends on Preferred Stock	(622		)	(623		)	(1,866		)	(1,869		)
Net income available for common stockholders	$	27,901		$	33,160		$	74,578		$	116,295
Denominator:
Denominator for basic earnings per Common Share – weighted average shares	103,727			103,471			103,674			103,408
Net income available for common stockholders	$	0.27		$	0.32		$	0.72		$	1.12
Earnings per Common Share - diluted:
Numerator:
Net income	$	29,557		$	35,009		$	79,337		$	122,253
Net (income) attributable to noncontrolling interests in consolidated affiliates	(297		)	(324		)	(919		)	(918		)
Dividends on Preferred Stock	(622		)	(623		)	(1,866		)	(1,869		)
Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership	$	28,638		$	34,062		$	76,552		$	119,466
Denominator:
Denominator for basic earnings per Common Share – weighted average shares	103,727			103,471			103,674			103,408
Add:
Stock options using the treasury method	16			58			18			39
Noncontrolling interests Common Units	2,728			2,804			2,733			2,809
Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions (1)	106,471			106,333			106,425			106,256
Net income available for common stockholders	$	0.27		$	0.32		$	0.72		$	1.12

__________

(1)

Includes all unvested restricted stock where dividends on such restricted stock are non-forfeitable.

Highwoods Realty Limited Partnership [Member]

Earnings Per Share and Per Unit Basic and Diluted [Line Items]

Earnings Per Unit

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

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
Earnings per Common Unit - basic:
Numerator:
Net income	$	29,557		$	35,009		$	79,337		$	122,253
Net (income) attributable to noncontrolling interests in consolidated affiliates	(297		)	(324		)	(919		)	(918		)
Distributions on Preferred Units	(622		)	(623		)	(1,866		)	(1,869		)
Net income available for common unitholders	$	28,638		$	34,062		$	76,552		$	119,466
Denominator:
Denominator for basic earnings per Common Unit – weighted average units	106,046			105,866			105,998			105,808
Net income available for common unitholders	$	0.27		$	0.32		$	0.72		$	1.13
Earnings per Common Unit - diluted:
Numerator:
Net income	$	29,557		$	35,009		$	79,337		$	122,253
Net (income) attributable to noncontrolling interests in consolidated affiliates	(297		)	(324		)	(919		)	(918		)
Distributions on Preferred Units	(622		)	(623		)	(1,866		)	(1,869		)
Net income available for common unitholders	$	28,638		$	34,062		$	76,552		$	119,466
Denominator:
Denominator for basic earnings per Common Unit – weighted average units	106,046			105,866			105,998			105,808
Add:
Stock options using the treasury method	16			58			18			39
Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions (1)	106,062			105,924			106,016			105,847
Net income available for common unitholders	$	0.27		$	0.32		$	0.72		$	1.13

__________

(1)

Includes all unvested restricted stock where distributions on such restricted stock are non-forfeitable.