XML 33 R6.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Operating activities:    
Net income $ 26,877 $ 52,131
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 67,274 66,447
Amortization of lease incentives and acquisition-related intangible assets and liabilities 968 537
Share-based compensation expense 3,453 3,497
Allowance for losses on accounts and accrued straight-line rents receivable 1,029 2,636
Amortization of deferred financing costs 1,642 1,670
Amortization of settled cash-flow hedges (58) 287
Loss on debt extinguishment 24 0
Net (gains)/losses on disposition of property (200) 50
Gains on disposition of for-sale residential condominiums (154) (353)
Gains on disposition of investment in unconsolidated affiliates 0 (25,330)
Equity in earnings of unconsolidated affiliates (2,820) (1,683)
Changes in financing obligations (245) 81
Distributions of earnings from unconsolidated affiliates 2,162 1,717
Changes in operating assets and liabilities:    
Accounts receivable (1,821) (1,430)
Prepaid expenses and other assets (644) 1,734
Accrued straight-line rents receivable (6,098) (5,296)
Accounts payable, accrued expenses and other liabilities (3,794) 3,352
Net cash provided by operating activities 87,595 100,047
Investing activities:    
Additions to real estate assets and deferred leasing costs (44,447) (38,292)
Net proceeds from disposition of real estate assets 2,063 6,801
Net proceeds from disposition of for-sale residential condominiums 2,401 3,186
Proceeds from disposition of investment in unconsolidated affiliates 0 15,000
Distributions of capital from unconsolidated affiliates 632 1,106
Repayments of mortgages and notes receivable 235 29
Investment in and advances to unconsolidated affiliates (39,402) (303)
Changes in restricted cash and other investing activities (395) (3,178)
Net cash used in investing activities (78,913) (15,651)
Financing activities:    
Dividends on Common Stock (61,069) (60,753)
Redemptions/repurchases of Preferred Stock (52,505) 0
Dividends on Preferred Stock (3,299) (3,354)
Distributions to noncontrolling interests in the Operating Partnership (3,215) (3,243)
Distributions to noncontrolling interests in consolidated affiliates (319) (324)
Net proceeds from the issuance of Common Stock 16,984 1,062
Borrowings on revolving credit facility 124,700 4,000
Repayments of revolving credit facility (79,300) (4,000)
Borrowings on mortgages and notes payable 200,000 0
Repayments of mortgages and notes payable (153,522) (5,452)
Additions to deferred financing costs and other financing activities (2,104) (188)
Net cash used in financing activities (13,649) (72,252)
Net increase/(decrease) in cash and cash equivalents (4,967) 12,144
Cash and cash equivalents at beginning of the period 14,206 23,699
Cash and cash equivalents at end of the period 9,239 35,843
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 44,948 43,204
Supplemental disclosure of non-cash investing and financing activities:    
Conversion of Common Units to Common Stock 635 2,958
Change in accrued capital expenditures 1,525 (2,294)
Write-off of fully depreciated real estate assets 23,352 24,273
Write-off of fully amortized deferred financing and leasing costs 8,247 7,963
Unrealized gains on marketable securities of non-qualified deferred compensation plan 210 174
Settlement of financing obligation 0 4,184
Adjustment of noncontrolling interests in the Operating Partnership to fair value 6,957 (20,612)
Unrealized gain/(loss) on tax increment financing bond (471) 146
Mortgages receivable from seller financing 0 17,030
Highwoods Realty Limited Partnership [Member]
   
Operating activities:    
Net income 26,889 52,120
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 67,274 66,447
Amortization of lease incentives and acquisition-related intangible assets and liabilities 968 537
Share-based compensation expense 3,453 3,497
Allowance for losses on accounts and accrued straight-line rents receivable 1,029 2,636
Amortization of deferred financing costs 1,642 1,670
Amortization of settled cash-flow hedges (58) 287
Loss on debt extinguishment 24 0
Net (gains)/losses on disposition of property (200) 50
Gains on disposition of for-sale residential condominiums (154) (353)
Gains on disposition of investment in unconsolidated affiliates 0 (25,330)
Equity in earnings of unconsolidated affiliates (2,832) (1,672)
Changes in financing obligations (245) 81
Distributions of earnings from unconsolidated affiliates 2,150 1,704
Changes in operating assets and liabilities:    
Accounts receivable (1,821) (1,616)
Prepaid expenses and other assets (544) 1,769
Accrued straight-line rents receivable (6,098) (5,296)
Accounts payable, accrued expenses and other liabilities (3,794) 3,352
Net cash provided by operating activities 87,683 99,883
Investing activities:    
Additions to real estate assets and deferred leasing costs (44,447) (38,292)
Net proceeds from disposition of real estate assets 2,063 6,801
Net proceeds from disposition of for-sale residential condominiums 2,401 3,186
Proceeds from disposition of investment in unconsolidated affiliates 0 15,000
Distributions of capital from unconsolidated affiliates 632 1,106
Repayments of mortgages and notes receivable 235 29
Investment in and advances to unconsolidated affiliates (39,402) (303)
Changes in restricted cash and other investing activities (395) (3,178)
Net cash used in investing activities (78,913) (15,651)
Financing activities:    
Distributions on Common Units (63,936) (63,648)
Redemptions/repurchases of Preferred Units (52,505) 0
Distributions on Preferred Units (3,299) (3,354)
Distributions to noncontrolling interests in consolidated affiliates (319) (324)
Net proceeds from the issuance of Common Units 16,984 1,062
Borrowings on revolving credit facility 124,700 4,000
Repayments of revolving credit facility (79,300) (4,000)
Borrowings on mortgages and notes payable 200,000 0
Repayments of mortgages and notes payable (153,522) (5,452)
Additions to deferred financing costs and other financing activities (2,684) (290)
Net cash used in financing activities (13,881) (72,006)
Net increase/(decrease) in cash and cash equivalents (5,111) 12,226
Cash and cash equivalents at beginning of the period 14,198 23,519
Cash and cash equivalents at end of the period 9,087 35,745
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 44,948 43,204
Supplemental disclosure of non-cash investing and financing activities:    
Change in accrued capital expenditures 1,525 (2,294)
Write-off of fully depreciated real estate assets 23,352 24,273
Write-off of fully amortized deferred financing and leasing costs 8,247 7,963
Unrealized gains on marketable securities of non-qualified deferred compensation plan 210 174
Settlement of financing obligation 0 4,184
Adjustment of Redeemable Common Units to fair value 4,237 (24,360)
Unrealized gain/(loss) on tax increment financing bond (471) 146
Mortgages receivable from seller financing $ 0 $ 17,030