XML 25 R5.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Rental and other revenues $ 828,929 $ 768,007 $ 736,900
Operating expenses:      
Rental property and other expenses 259,806 236,436 231,825
Depreciation and amortization 287,610 259,255 241,585
Impairments of real estate assets 36,515 0 1,778
General and administrative 42,266 40,553 41,031
Total operating expenses 626,197 536,244 516,219
Interest expense 105,385 85,853 80,962
Other income/(loss) 1,530 1,394 (1,707)
Gains on disposition of property 63,546 174,059 215,897
Equity in earnings of unconsolidated affiliates 1,535 1,947 4,005
Net income 163,958 323,310 357,914
Net (income) attributable to noncontrolling interests in the Operating Partnership (3,670) (8,321) (9,338)
Net (income) attributable to noncontrolling interests in consolidated affiliates (1,230) (1,712) (1,174)
Dividends on Preferred Stock (2,486) (2,486) (2,488)
Net income available for common stockholders $ 156,572 $ 310,791 $ 344,914
Earnings per Common Share - basic:      
Net income available for common stockholders (in dollars per share) $ 1.49 $ 2.98 $ 3.32
Weighted average Common Shares outstanding - basic (in shares) 105,120 104,232 103,876
Earnings per Common Share - diluted:      
Net income available for common stockholders (in dollars per share) $ 1.49 $ 2.98 $ 3.32
Weighted average Common Shares outstanding - diluted (in shares) 107,567 107,061 106,714
Highwoods Realty Limited Partnership [Member]      
Rental and other revenues $ 828,929 $ 768,007 $ 736,900
Operating expenses:      
Rental property and other expenses 259,806 236,436 231,825
Depreciation and amortization 287,610 259,255 241,585
Impairments of real estate assets 36,515 0 1,778
General and administrative 42,266 40,553 41,031
Total operating expenses 626,197 536,244 516,219
Interest expense 105,385 85,853 80,962
Other income/(loss) 1,530 1,394 (1,707)
Gains on disposition of property 63,546 174,059 215,897
Equity in earnings of unconsolidated affiliates 1,535 1,947 4,005
Net income 163,958 323,310 357,914
Net (income) attributable to noncontrolling interests in consolidated affiliates (1,230) (1,712) (1,174)
Distributions on Preferred Units (2,486) (2,486) (2,488)
Net income available for common unitholders $ 160,242 $ 319,112 $ 354,252
Earnings per Common Unit - basic:      
Net income available for common unitholders (in dollars per share) $ 1.50 $ 2.99 $ 3.33
Weighted average Common Units outstanding - basic (in shares) 107,153 106,634 106,297
Earnings per Common Unit - diluted:      
Net income available for common unitholders (in dollars per share) $ 1.50 $ 2.99 $ 3.33
Weighted average Common Units outstanding - diluted (in shares) 107,158 106,652 106,305