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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities:    
Net income $ 118,699 $ 230,296
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 122,876 120,611
Amortization of lease incentives and acquisition-related intangible assets and liabilities (1,439) (1,278)
Share-based compensation expense 4,855 3,738
Net credit losses/(reversals) on operating lease receivables (489) 2,333
Accrued interest on mortgages and notes receivable (54) (61)
Amortization of debt issuance costs 1,661 1,533
Amortization of cash flow hedges 248 3
Amortization of mortgages and notes payable fair value adjustments 776 852
Impairments of real estate assets 0 1,778
Losses on debt extinguishment 134 0
Net gains on disposition of property (41,799) (153,385)
Equity in earnings of unconsolidated affiliates (1,068) (2,142)
Distributions of earnings from unconsolidated affiliates 1,402 407
Changes in operating assets and liabilities:    
Accounts receivable 6,694 (1,031)
Prepaid expenses and other assets (5,642) (8,320)
Accrued straight-line rents receivable (7,638) (21,522)
Accounts payable, accrued expenses and other liabilities (1,801) 6,403
Net cash provided by operating activities 197,415 180,215
Investing activities:    
Investments in acquired real estate and related intangible assets, net of cash acquired (120) (2,363)
Investments in development in-process (54,365) (83,071)
Investments in tenant improvements and deferred leasing costs (44,827) (85,544)
Investments in building improvements (24,109) (30,312)
Investment in acquired controlling interest in unconsolidated affiliate (127,339) 0
Net proceeds from disposition of real estate assets 71,501 334,366
Distributions of capital from unconsolidated affiliates 0 72
Investments in mortgages and notes receivable (23) (32)
Repayments of mortgages and notes receivable 154 154
Payments of earnest money deposits (55,000) 0
Changes in other investing activities 5,711 (3,541)
Net cash provided by/(used in) investing activities (228,417) 129,729
Financing activities:    
Dividends on Common Stock (99,778) (99,596)
Redemptions/repurchases of Preferred Stock (5) (16)
Dividends on Preferred Stock (1,243) (1,244)
Distributions to noncontrolling interests in the Operating Partnership (2,726) (2,728)
Distributions to noncontrolling interests in consolidated affiliates (782) (829)
Proceeds from the issuance of Common Stock 7,763 2,753
Costs paid for the issuance of Common Stock (185) (228)
Repurchase of shares related to tax withholdings (1,681) (1,124)
Borrowings on revolving credit facility 230,000 129,000
Repayments of revolving credit facility (75,000) (336,000)
Repayments of mortgages and notes payable (151,006) (967)
Changes in debt issuance costs and other financing activities (5,166) 0
Net cash used in financing activities (99,809) (310,979)
Net decrease in cash and cash equivalents and restricted cash (130,811) (1,035)
Cash and cash equivalents and restricted cash at beginning of the period 189,244 14,742
Cash and cash equivalents and restricted cash at end of the period 58,433 13,707
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents at end of the period 6,535 4,752
Restricted cash at end of the period 51,898 8,955
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 36,071 38,424
Supplemental disclosure of non-cash investing and financing activities:    
Unrealized losses on cash flow hedges (11) (1,236)
Conversions of Common Units to Common Stock 44 0
Changes in accrued capital expenditures (1) [1] (23,599) (18,819)
Write-off of fully depreciated real estate assets 36,798 22,630
Write-off of fully amortized leasing costs 28,575 10,564
Write-off of fully amortized debt issuance costs 4,158 0
Adjustment of noncontrolling interests in the Operating Partnership to fair value 15,334 (36,525)
Issuances of Common Units to acquire real estate assets 0 6,163
Contingent consideration in connection with the acquisition of land 0 1,500
Future consideration in connection with the acquisition of land 16,000 0
Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities 42,300 49,100
Highwoods Realty Limited Partnership [Member]    
Operating activities:    
Net income 118,699 230,296
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 122,876 120,611
Amortization of lease incentives and acquisition-related intangible assets and liabilities (1,439) (1,278)
Share-based compensation expense 4,855 3,738
Net credit losses/(reversals) on operating lease receivables (489) 2,333
Accrued interest on mortgages and notes receivable (54) (61)
Amortization of debt issuance costs 1,661 1,533
Amortization of cash flow hedges 248 3
Amortization of mortgages and notes payable fair value adjustments 776 852
Impairments of real estate assets 0 1,778
Losses on debt extinguishment 134 0
Net gains on disposition of property (41,799) (153,385)
Equity in earnings of unconsolidated affiliates (1,068) (2,142)
Distributions of earnings from unconsolidated affiliates 1,402 407
Changes in operating assets and liabilities:    
Accounts receivable 6,694 (1,031)
Prepaid expenses and other assets (5,642) (8,320)
Accrued straight-line rents receivable (7,638) (21,522)
Accounts payable, accrued expenses and other liabilities (1,801) 6,403
Net cash provided by operating activities 197,415 180,215
Investing activities:    
Investments in acquired real estate and related intangible assets, net of cash acquired (120) (2,363)
Investments in development in-process (54,365) (83,071)
Investments in tenant improvements and deferred leasing costs (44,827) (85,544)
Investments in building improvements (24,109) (30,312)
Investment in acquired controlling interest in unconsolidated affiliate (127,339) 0
Net proceeds from disposition of real estate assets 71,501 334,366
Distributions of capital from unconsolidated affiliates 0 72
Investments in mortgages and notes receivable (23) (32)
Repayments of mortgages and notes receivable 154 154
Payments of earnest money deposits (55,000) 0
Changes in other investing activities 5,711 (3,541)
Net cash provided by/(used in) investing activities (228,417) 129,729
Financing activities:    
Distributions on Common Units (102,112) (101,931)
Redemptions/repurchases of Preferred Units (5) (16)
Distributions on Preferred Units (1,243) (1,244)
Distributions to noncontrolling interests in consolidated affiliates (782) (829)
Proceeds from the issuance of Common Units 7,763 2,753
Costs paid for the issuance of Common Units (185) (228)
Repurchase of units related to tax withholdings (1,681) (1,124)
Borrowings on revolving credit facility 230,000 129,000
Repayments of revolving credit facility (75,000) (336,000)
Repayments of mortgages and notes payable (151,006) (967)
Changes in debt issuance costs and other financing activities (5,558) (393)
Net cash used in financing activities (99,809) (310,979)
Net decrease in cash and cash equivalents and restricted cash (130,811) (1,035)
Cash and cash equivalents and restricted cash at beginning of the period 189,244 14,742
Cash and cash equivalents and restricted cash at end of the period 58,433 13,707
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents at end of the period 6,535 4,752
Restricted cash at end of the period 51,898 8,955
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 36,071 38,424
Supplemental disclosure of non-cash investing and financing activities:    
Unrealized losses on cash flow hedges (11) (1,236)
Changes in accrued capital expenditures (1) [1] (23,599) (18,819)
Write-off of fully depreciated real estate assets 36,798 22,630
Write-off of fully amortized leasing costs 28,575 10,564
Write-off of fully amortized debt issuance costs 4,158 0
Adjustment of Redeemable Common Units to fair value 15,681 (33,276)
Issuances of Common Units to acquire real estate assets 0 6,163
Contingent consideration in connection with the acquisition of land 0 1,500
Future consideration in connection with the acquisition of land 16,000 0
Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities $ 42,300 $ 49,100
[1] Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities at June 30, 2021 and 2020 were $42.3 million and $49.1 million, respectively.