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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities:    
Net income $ 272,627 $ 79,337
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 180,914 189,514
Amortization of lease incentives and acquisition-related intangible assets and liabilities (1,867) 197
Share-based compensation expense 4,980 6,180
Credit losses on operating lease receivables 4,387 8,711
Write-off of mortgages and notes receivable 0 4,087
Accrued interest on mortgages and notes receivable (91) (151)
Amortization of debt issuance costs 2,312 2,194
Amortization of cash flow hedges 125 (1,158)
Amortization of mortgages and notes payable fair value adjustments 1,270 1,193
Impairments of real estate assets 1,778 5,849
Losses on debt extinguishment 3,671 640
Net gains on disposition of property (163,397) (10,218)
Equity in earnings of unconsolidated affiliates (2,965) (2,369)
Distributions of earnings from unconsolidated affiliates 952 730
Settlement of cash flow hedges 0 (11,749)
Changes in operating assets and liabilities:    
Accounts receivable (206) (3,611)
Prepaid expenses and other assets (3,684) 458
Accrued straight-line rents receivable (30,187) (20,955)
Accounts payable, accrued expenses and other liabilities 4,840 37,382
Net cash provided by operating activities 275,459 286,261
Investing activities:    
Investments in acquired real estate and related intangible assets, net of cash acquired (2,363) (19,365)
Investments in development in-process (116,839) (77,854)
Investments in tenant improvements and deferred leasing costs (106,843) (105,879)
Investments in building improvements (44,088) (36,383)
Net proceeds from disposition of real estate assets 356,644 45,250
Distributions of capital from unconsolidated affiliates 72 29
Investments in mortgages and notes receivable (32) 0
Repayments of mortgages and notes receivable 234 221
Payments of earnest money deposits 0 (50,000)
Changes in other investing activities (6,416) (6,279)
Net cash provided by/(used in) investing activities 80,369 (250,260)
Financing activities:    
Dividends on Common Stock (149,462) (147,662)
Redemptions/repurchases of Preferred Stock (33) (18)
Dividends on Preferred Stock (1,866) (1,866)
Distributions to noncontrolling interests in the Operating Partnership (4,092) (3,894)
Distributions to noncontrolling interests in consolidated affiliates (1,124) (1,227)
Proceeds from the issuance of Common Stock 3,163 1,541
Costs paid for the issuance of Common Stock (215) 0
Repurchase of shares related to tax withholdings (1,160) (1,784)
Borrowings on revolving credit facility 129,000 278,600
Repayments of revolving credit facility (350,000) (460,600)
Borrowings on mortgages and notes payable 398,364 747,990
Repayments of mortgages and notes payable (251,457) (326,400)
Payments of debt extinguishment costs (3,108) 0
Changes in debt issuance costs and other financing activities (10,309) (7,800)
Net cash provided by/(used in) financing activities (242,299) 76,880
Net increase in cash and cash equivalents and restricted cash 113,529 112,881
Cash and cash equivalents and restricted cash at beginning of the period 14,742 10,143
Cash and cash equivalents and restricted cash at end of the period 128,271 123,024
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents at end of the period 118,705 116,724
Restricted cash at end of the period 9,566 6,300
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 63,064 55,608
Supplemental disclosure of non-cash investing and financing activities:    
Unrealized losses on cash flow hedges (1,231) (9,282)
Conversions of Common Units to Common Stock 0 572
Changes in accrued capital expenditures (1) [1] 16,318 (7,407)
Write-off of fully depreciated real estate assets 31,526 59,428
Write-off of fully amortized leasing costs 15,184 34,203
Write-off of fully amortized debt issuance costs 1,438 1,791
Adjustment of noncontrolling interests in the Operating Partnership to fair value (46,955) 19,025
Contributions from noncontrolling interests in consolidated affiliates 0 4,987
Issuances of Common Units to acquire real estate assets 6,163 0
Initial recognition of lease liabilities related to right of use assets 0 35,349
Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities 84,300 54,900
Highwoods Realty Limited Partnership [Member]    
Operating activities:    
Net income 272,627 79,337
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 180,914 189,514
Amortization of lease incentives and acquisition-related intangible assets and liabilities (1,867) 197
Share-based compensation expense 4,980 6,180
Credit losses on operating lease receivables 4,387 8,711
Write-off of mortgages and notes receivable 0 4,087
Accrued interest on mortgages and notes receivable (91) (151)
Amortization of debt issuance costs 2,312 2,194
Amortization of cash flow hedges 125 (1,158)
Amortization of mortgages and notes payable fair value adjustments 1,270 1,193
Impairments of real estate assets 1,778 5,849
Losses on debt extinguishment 3,671 640
Net gains on disposition of property (163,397) (10,218)
Equity in earnings of unconsolidated affiliates (2,965) (2,369)
Distributions of earnings from unconsolidated affiliates 952 730
Settlement of cash flow hedges 0 (11,749)
Changes in operating assets and liabilities:    
Accounts receivable (206) (3,611)
Prepaid expenses and other assets (3,684) 458
Accrued straight-line rents receivable (30,187) (20,955)
Accounts payable, accrued expenses and other liabilities 4,840 37,382
Net cash provided by operating activities 275,459 286,261
Investing activities:    
Investments in acquired real estate and related intangible assets, net of cash acquired (2,363) (19,365)
Investments in development in-process (116,839) (77,854)
Investments in tenant improvements and deferred leasing costs (106,843) (105,879)
Investments in building improvements (44,088) (36,383)
Net proceeds from disposition of real estate assets 356,644 45,250
Distributions of capital from unconsolidated affiliates 72 29
Investments in mortgages and notes receivable (32) 0
Repayments of mortgages and notes receivable 234 221
Payments of earnest money deposits 0 (50,000)
Changes in other investing activities (6,416) (6,279)
Net cash provided by/(used in) investing activities 80,369 (250,260)
Financing activities:    
Distributions on Common Units (152,965) (150,973)
Redemptions/repurchases of Preferred Units (33) (18)
Distributions on Preferred Units (1,866) (1,866)
Distributions to noncontrolling interests in consolidated affiliates (1,124) (1,227)
Proceeds from the issuance of Common Units 3,163 1,541
Costs paid for the issuance of Common Units (215) 0
Repurchase of units related to tax withholdings (1,160) (1,784)
Borrowings on revolving credit facility 129,000 278,600
Repayments of revolving credit facility (350,000) (460,600)
Borrowings on mortgages and notes payable 398,364 747,990
Repayments of mortgages and notes payable (251,457) (326,400)
Payments of debt extinguishment costs (3,108) 0
Changes in debt issuance costs and other financing activities (10,898) (8,383)
Net cash provided by/(used in) financing activities (242,299) 76,880
Net increase in cash and cash equivalents and restricted cash 113,529 112,881
Cash and cash equivalents and restricted cash at beginning of the period 14,742 10,143
Cash and cash equivalents and restricted cash at end of the period 128,271 123,024
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents at end of the period 118,705 116,724
Restricted cash at end of the period 9,566 6,300
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 63,064 55,608
Supplemental disclosure of non-cash investing and financing activities:    
Unrealized losses on cash flow hedges (1,231) (9,282)
Changes in accrued capital expenditures (1) [1] 16,318 (7,407)
Write-off of fully depreciated real estate assets 31,526 59,428
Write-off of fully amortized leasing costs 15,184 34,203
Write-off of fully amortized debt issuance costs 1,438 1,791
Adjustment of Redeemable Common Units to fair value (43,963) 16,533
Contributions from noncontrolling interests in consolidated affiliates 0 4,987
Issuances of Common Units to acquire real estate assets 6,163 0
Initial recognition of lease liabilities related to right of use assets 0 35,349
Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities $ 84,300 $ 54,900
[1] Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities at September 30, 2020 and 2019 were $84.3 million and $54.9 million, respectively.