Earnings Per Share and Per Unit (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share/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:

	Year Ended December 31,
	2020		2019		2018
Earnings per Common Share - basic:
Numerator:
Net income	$	357,914	$	141,683	$	177,630
Net (income) attributable to noncontrolling interests in the Operating Partnership	(9,338)		(3,551)		(4,588)
Net (income) attributable to noncontrolling interests in consolidated affiliates	(1,174)		(1,214)		(1,207)
Dividends on Preferred Stock	(2,488)		(2,488)		(2,492)
Net income available for common stockholders	$	344,914	$	134,430	$	169,343
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)	103,876		103,692		103,439
Net income available for common stockholders	$	3.32	$	1.30	$	1.64
Earnings per Common Share - diluted:
Numerator:
Net income	$	357,914	$	141,683	$	177,630
Net (income) attributable to noncontrolling interests in consolidated affiliates	(1,174)		(1,214)		(1,207)
Dividends on Preferred Stock	(2,488)		(2,488)		(2,492)
Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership	$	354,252	$	137,981	$	173,931
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)	103,876		103,692		103,439
Add:
Stock options using the treasury method	8		22		33
Noncontrolling interests Common Units	2,830		2,731		2,796
Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions	106,714		106,445		106,268
Net income available for common stockholders	$	3.32	$	1.30	$	1.64

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

Highwoods Realty Limited Partnership [Member]

Earnings Per Share/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:

	Year Ended December 31,
	2020		2019		2018
Earnings per Common Unit - basic:
Numerator:
Net income	$	357,914	$	141,683	$	177,630
Net (income) attributable to noncontrolling interests in consolidated affiliates	(1,174)		(1,214)		(1,207)
Distributions on Preferred Units	(2,488)		(2,488)		(2,492)
Net income available for common unitholders	$	354,252	$	137,981	$	173,931
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)	106,297		106,014		105,826
Net income available for common unitholders	$	3.33	$	1.30	$	1.64
Earnings per Common Unit - diluted:
Numerator:
Net income	$	357,914	$	141,683	$	177,630
Net (income) attributable to noncontrolling interests in consolidated affiliates	(1,174)		(1,214)		(1,207)
Distributions on Preferred Units	(2,488)		(2,488)		(2,492)
Net income available for common unitholders	$	354,252	$	137,981	$	173,931
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)	106,297		106,014		105,826
Add:
Stock options using the treasury method	8		22		33
Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions	106,305		106,036		105,859
Net income available for common unitholders	$	3.33	$	1.30	$	1.64

__________

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