Earnings Per Share and Per Unit (Tables)

12 Months Ended

Dec. 31, 2023

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,
	2023		2022		2021
Earnings per Common Share - basic:
Numerator:
Net income	$	151,330	$	163,958	$	323,310
Net (income) attributable to noncontrolling interests in the Operating Partnership	(3,164)		(3,670)		(8,321)
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates	549		(1,230)		(1,712)
Dividends on Preferred Stock	(2,485)		(2,486)		(2,486)
Net income available for common stockholders	$	146,230	$	156,572	$	310,791
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)	105,529		105,120		104,232
Net income available for common stockholders	$	1.39	$	1.49	$	2.98
Earnings per Common Share - diluted:
Numerator:
Net income	$	151,330	$	163,958	$	323,310
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates	549		(1,230)		(1,712)
Dividends on Preferred Stock	(2,485)		(2,486)		(2,486)
Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership	$	149,394	$	160,242	$	319,112
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)	105,529		105,120		104,232
Add:
Stock options using the treasury method	—		5		18
Noncontrolling interests Common Units	2,256		2,442		2,811
Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions	107,785		107,567		107,061
Net income available for common stockholders	$	1.39	$	1.49	$	2.98

__________

(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,
	2023		2022		2021
Earnings per Common Unit - basic:
Numerator:
Net income	$	151,330	$	163,958	$	323,310
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates	549		(1,230)		(1,712)
Distributions on Preferred Units	(2,485)		(2,486)		(2,486)
Net income available for common unitholders	$	149,394	$	160,242	$	319,112
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)	107,376		107,153		106,634
Net income available for common unitholders	$	1.39	$	1.50	$	2.99
Earnings per Common Unit - diluted:
Numerator:
Net income	$	151,330	$	163,958	$	323,310
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates	549		(1,230)		(1,712)
Distributions on Preferred Units	(2,485)		(2,486)		(2,486)
Net income available for common unitholders	$	149,394	$	160,242	$	319,112
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)	107,376		107,153		106,634
Add:
Stock options using the treasury method	—		5		18
Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions	107,376		107,158		106,652
Net income available for common unitholders	$	1.39	$	1.50	$	2.99

__________

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