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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities:      
Net income $ 151,330 $ 163,958 $ 323,310
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 299,411 287,610 259,255
Amortization of lease incentives and acquisition-related intangible assets and liabilities 1,135 (42) (1,903)
Share-based compensation expense 6,984 7,552 8,646
Net credit losses on operating lease receivables 3,834 3,199 425
Accrued interest on mortgages and notes receivable (805) (88) (103)
Amortization of debt issuance costs 4,884 4,324 4,451
Amortization of cash flow hedges (293) (238) 508
Amortization of mortgages and notes payable fair value adjustments (288) (70) 862
Impairments of real estate assets 0 36,515 0
Losses on debt extinguishment 602 0 286
Net gains on disposition of property (47,773) (63,546) (174,059)
Gain on deconsolidation of affiliate (11,778) 0 0
Equity in earnings of unconsolidated affiliates (1,107) (1,535) (1,947)
Distributions of earnings from unconsolidated affiliates 1,246 614 1,417
Settlement of cash flow hedges (493) 0 0
Changes in operating assets and liabilities:      
Accounts receivable (547) (10,955) 5,744
Prepaid expenses and other assets 1,259 1,685 1,575
Accrued straight-line rents receivable (24,510) (29,421) (22,100)
Accounts payable, accrued expenses and other liabilities 3,871 22,217 8,191
Net cash provided by operating activities 386,962 421,779 414,558
Investing activities:      
Investments in acquired real estate and related intangible assets, net of cash acquired (18,544) (224,934) (305,291)
Investments in development in-process (33,848) (44,352) (77,854)
Investments in tenant improvements and deferred leasing costs (112,290) (120,739) (93,654)
Investments in building improvements (64,312) (76,415) (48,405)
Investment in acquired controlling interest in unconsolidated affiliate 0 0 (127,339)
Net proceeds from disposition of real estate assets 101,829 130,038 374,016
Distributions of capital from unconsolidated affiliates 6,594 0 0
Investments in mortgages and notes receivable (14,463) (24) (84)
Repayments of mortgages and notes receivable 9,888 288 301
Investments in and advances to unconsolidated affiliates (132,609) (261,772) (6,079)
Repayments of preferred equity from unconsolidated affiliates 80,000 0 0
Changes in earnest money deposits 15,500 (15,500) 0
Changes in other investing activities (7,431) (1,389) (3,289)
Net cash used in investing activities (169,686) (614,799) (287,678)
Financing activities:      
Dividends on Common Stock (211,023) (210,183) (204,182)
Redemptions/repurchases of Preferred Stock (10) 0 (5)
Redemptions of Common Units (163) (3,763) 0
Dividends on Preferred Stock (2,485) (2,486) (2,486)
Distributions to noncontrolling interests in the Operating Partnership (4,511) (4,866) (5,516)
Distributions to noncontrolling interests in consolidated affiliates 0 (1,411) (1,342)
Proceeds from the issuance of Common Stock 1,741 7,570 23,917
Costs paid for the issuance of Common Stock (226) (247) (535)
Repurchase of shares related to tax withholdings (1,325) (2,156) (1,718)
Borrowings on revolving credit facility 249,000 675,000 380,000
Repayments of revolving credit facility (615,000) (359,000) (310,000)
Borrowings on mortgages and notes payable 590,352 550,000 200,000
Repayments of mortgages and notes payable (206,726) (456,444) (353,780)
Contributions from noncontrolling interests in consolidated affiliates 320 0 0
Payments for debt issuance costs and other financing activities (5,370) (4,087) (9,279)
Net cash provided by/(used in) financing activities (205,426) 187,927 (284,926)
Net increase/(decrease) in cash and cash equivalents and restricted cash 11,850 (5,093) (158,046)
Cash from deconsolidation of affiliate (6,386) 0 0
Cash and cash equivalents and restricted cash at beginning of the period 26,105 31,198 189,244
Cash and cash equivalents and restricted cash at end of the period 31,569 26,105 31,198
Reconciliation of cash and cash equivalents and restricted cash:      
Cash and cash equivalents at end of the period 25,123 21,357 23,152
Restricted cash at end of the period 6,446 4,748 8,046
Supplemental disclosure of cash flow information:      
Cash paid for interest, net of amounts capitalized 129,764 102,501 79,474
Supplemental disclosure of non-cash investing and financing activities:      
Conversions of Common Units to Common Stock 4,795 1,251 15,076
Changes in accrued capital expenditures (1) [1] 2,342 (1,426) (9,843)
Write-off of fully depreciated real estate assets 76,722 58,905 68,307
Write-off of fully amortized leasing costs 36,051 29,083 43,648
Write-off of fully amortized debt issuance costs 1,356 3,292 5,200
Adjustment of noncontrolling interests in the Operating Partnership to fair value (10,152) (39,502) 11,461
Assumption of mortgages and notes payable related to acquisition activities 0 0 403,000
Initial recognition of lease liabilities related to right of use assets 0 0 5,310
Future consideration in connection with the acquisition of land 0 0 16,000
Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities 55,700 53,200 56,100
Highwoods Realty Limited Partnership [Member]      
Operating activities:      
Net income 151,330 163,958 323,310
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 299,411 287,610 259,255
Amortization of lease incentives and acquisition-related intangible assets and liabilities 1,135 (42) (1,903)
Share-based compensation expense 6,984 7,552 8,646
Net credit losses on operating lease receivables 3,834 3,199 425
Accrued interest on mortgages and notes receivable (805) (88) (103)
Amortization of debt issuance costs 4,884 4,324 4,451
Amortization of cash flow hedges (293) (238) 508
Amortization of mortgages and notes payable fair value adjustments (288) (70) 862
Impairments of real estate assets 0 36,515 0
Losses on debt extinguishment 602 0 286
Net gains on disposition of property (47,773) (63,546) (174,059)
Gain on deconsolidation of affiliate (11,778) 0 0
Equity in earnings of unconsolidated affiliates (1,107) (1,535) (1,947)
Distributions of earnings from unconsolidated affiliates 1,246 614 1,417
Settlement of cash flow hedges (493) 0 0
Changes in operating assets and liabilities:      
Accounts receivable (547) (10,955) 5,744
Prepaid expenses and other assets 1,259 1,685 1,575
Accrued straight-line rents receivable (24,510) (29,421) (22,100)
Accounts payable, accrued expenses and other liabilities 3,871 22,217 8,191
Net cash provided by operating activities 386,962 421,779 414,558
Investing activities:      
Investments in acquired real estate and related intangible assets, net of cash acquired (18,544) (224,934) (305,291)
Investments in development in-process (33,848) (44,352) (77,854)
Investments in tenant improvements and deferred leasing costs (112,290) (120,739) (93,654)
Investments in building improvements (64,312) (76,415) (48,405)
Investment in acquired controlling interest in unconsolidated affiliate 0 0 (127,339)
Net proceeds from disposition of real estate assets 101,829 130,038 374,016
Distributions of capital from unconsolidated affiliates 6,594 0 0
Investments in mortgages and notes receivable (14,463) (24) (84)
Repayments of mortgages and notes receivable 9,888 288 301
Investments in and advances to unconsolidated affiliates (132,609) (261,772) (6,079)
Repayments of preferred equity from unconsolidated affiliates 80,000 0 0
Changes in earnest money deposits 15,500 (15,500) 0
Changes in other investing activities (7,431) (1,389) (3,289)
Net cash used in investing activities (169,686) (614,799) (287,678)
Financing activities:      
Distributions on Common Units (214,716) (214,231) (208,896)
Redemptions/repurchases of Preferred Units (10) 0 (5)
Redemptions of Common Units (163) (3,763) 0
Distributions on Preferred Units (2,485) (2,486) (2,486)
Distributions to noncontrolling interests in consolidated affiliates 0 (1,411) (1,342)
Proceeds from the issuance of Common Units 1,741 7,570 23,917
Costs paid for the issuance of Common Units (226) (247) (535)
Repurchase of units related to tax withholdings (1,325) (2,156) (1,718)
Borrowings on revolving credit facility 249,000 675,000 380,000
Repayments of revolving credit facility (615,000) (359,000) (310,000)
Borrowings on mortgages and notes payable 590,352 550,000 200,000
Repayments of mortgages and notes payable (206,726) (456,444) (353,780)
Contributions from noncontrolling interests in consolidated affiliates 320 0 0
Payments for debt issuance costs and other financing activities (6,188) (4,905) (10,081)
Net cash provided by/(used in) financing activities (205,426) 187,927 (284,926)
Net increase/(decrease) in cash and cash equivalents and restricted cash 11,850 (5,093) (158,046)
Cash from deconsolidation of affiliate (6,386) 0 0
Cash and cash equivalents and restricted cash at beginning of the period 26,105 31,198 189,244
Cash and cash equivalents and restricted cash at end of the period 31,569 26,105 31,198
Reconciliation of cash and cash equivalents and restricted cash:      
Cash and cash equivalents at end of the period 25,123 21,357 23,152
Restricted cash at end of the period 6,446 4,748 8,046
Supplemental disclosure of cash flow information:      
Cash paid for interest, net of amounts capitalized 129,764 102,501 79,474
Supplemental disclosure of non-cash investing and financing activities:      
Changes in accrued capital expenditures (1) [2] 2,342 (1,426) (9,843)
Write-off of fully depreciated real estate assets 76,722 58,905 68,307
Write-off of fully amortized leasing costs 36,051 29,083 43,648
Write-off of fully amortized debt issuance costs 1,356 3,292 5,200
Assumption of mortgages and notes payable related to acquisition activities 0 0 403,000
Adjustment of Redeemable Common Units to fair value (16,457) (45,712) (810)
Initial recognition of lease liabilities related to right of use assets 0 0 5,310
Future consideration in connection with the acquisition of land 0 0 16,000
Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities $ 55,700 $ 53,200 $ 56,100
[1] Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities as of December 31, 2023, 2022 and 2021 were $55.7 million, $53.2 million and $56.1 million, respectively.
[2] Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities as of December 31, 2023, 2022 and 2021 were $55.7 million, $53.2 million and $56.1 million, respectively.