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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Rental and other revenues $ 130,735 $ 114,651 $ 258,768 $ 226,981
Operating expenses:        
Rental property and other expenses 47,089 39,931 92,288 79,838
Depreciation and amortization 40,276 32,684 78,105 65,621
General and administrative 8,900 7,978 18,573 15,771
Total operating expenses 96,265 80,593 188,966 161,230
Interest expense:        
Contractual 23,643 22,940 47,591 45,371
Amortization of deferred financing costs 900 821 1,802 1,642
Financing obligations (48) 146 (96) 437
Total interest expense 24,495 23,907 49,297 47,450
Other income:        
Interest and other income 1,737 1,899 3,967 3,772
Losses on debt extinguishment (973) (24) (973) (24)
Total other income 764 1,875 2,994 3,748
Income from continuing operations before disposition of property and condominiums and equity in earnings of unconsolidated affiliates 10,739 12,026 23,499 22,049
Gains on disposition of property 0 200 0 200
Gains on for-sale residential condominiums 110 116 175 154
Equity in earnings of unconsolidated affiliates 1,508 1,353 1,346 2,820
Income from continuing operations 12,357 13,695 25,020 25,223
Discontinued operations:        
Income from discontinued operations 756 739 1,291 1,654
Net gains on disposition of discontinued operations 1,385 0 6,519 0
Total discontinued operations 2,141 739 7,810 1,654
Net income 14,498 14,434 32,830 26,877
Net (income) attributable to noncontrolling interests in the Operating Partnership (686) (623) (1,513) (1,130)
Net (income) attributable to noncontrolling interests in consolidated affiliates (223) (182) (407) (305)
Dividends on Preferred Stock (627) (1,622) (1,254) (3,299)
Excess of Preferred Stock redemption/repurchase cost over carrying value 0 (1,895) 0 (1,895)
Net income available for common stockholders 12,962 10,112 29,656 20,248
Earnings per Common Share - basic:        
Income from continuing operations available for common stockholders (in dollars per share) $ 0.15 $ 0.13 $ 0.30 $ 0.26
Income from discontinued operations available for common stockholders (in dollars per share) $ 0.02 $ 0.01 $ 0.10 $ 0.02
Net income available for common stockholders (in dollars per share) $ 0.17 $ 0.14 $ 0.40 $ 0.28
Weighted average Common Shares outstanding - basic (in shares) 74,662 [1],[2] 72,211 [1],[2] 73,749 [1],[2] 72,015 [1],[2]
Earnings per Common Share - diluted:        
Income from continuing operations available for common stockholders (in dollars per share) $ 0.15 $ 0.13 $ 0.30 $ 0.26
Income from discontinued operations available for common stockholders (in dollars per share) $ 0.02 $ 0.01 $ 0.10 $ 0.02
Net income available for common stockholders (in dollars per share) $ 0.17 $ 0.14 $ 0.40 $ 0.28
Weighted average Common Shares outstanding - diluted (in shares) 78,521 [1] 76,197 [1] 77,601 [1] 75,987 [1]
Dividends declared per Common Share (in dollars per share) $ 0.425 $ 0.425 $ 0.850 $ 0.850
Net income available for common stockholders:        
Income from continuing operations available for common stockholders 10,923 9,410 22,226 18,677
Income from discontinued operations available for common stockholders 2,039 702 7,430 1,571
Net income available for common stockholders 12,962 10,112 29,656 20,248
Highwoods Realty Limited Partnership [Member]
       
Rental and other revenues 130,735 114,651 258,768 226,981
Operating expenses:        
Rental property and other expenses 47,030 39,868 92,167 79,924
Depreciation and amortization 40,276 32,684 78,105 65,621
General and administrative 8,959 8,041 18,694 15,685
Total operating expenses 96,265 80,593 188,966 161,230
Interest expense:        
Contractual 23,643 22,940 47,591 45,371
Amortization of deferred financing costs 900 821 1,802 1,642
Financing obligations (48) 146 (96) 437
Total interest expense 24,495 23,907 49,297 47,450
Other income:        
Interest and other income 1,737 1,899 3,967 3,772
Losses on debt extinguishment (973) (24) (973) (24)
Total other income 764 1,875 2,994 3,748
Income from continuing operations before disposition of property and condominiums and equity in earnings of unconsolidated affiliates 10,739 12,026 23,499 22,049
Gains on disposition of property 0 200 0 200
Gains on for-sale residential condominiums 110 116 175 154
Equity in earnings of unconsolidated affiliates 1,511 1,357 1,351 2,832
Income from continuing operations 12,360 13,699 25,025 25,235
Discontinued operations:        
Income from discontinued operations 756 739 1,291 1,654
Net gains on disposition of discontinued operations 1,385 0 6,519 0
Total discontinued operations 2,141 739 7,810 1,654
Net income 14,501 14,438 32,835 26,889
Net (income) attributable to noncontrolling interests in consolidated affiliates (223) (182) (407) (305)
Distributions on Preferred Units (627) (1,622) (1,254) (3,299)
Excess of Preferred Unit redemption/repurchase cost over carrying value 0 (1,895) 0 (1,895)
Net income available for common unitholders 13,651 10,739 31,174 21,390
Earnings per Common Unit - basic:        
Income from continuing operations available for common unitholders (in dollars per share) $ 0.15 $ 0.13 $ 0.30 $ 0.26
Income from discontinued operations available for common unitholders (in dollars per share) $ 0.03 $ 0.01 $ 0.10 $ 0.02
Net income available for common unitholders (in dollars per share) $ 0.18 $ 0.14 $ 0.40 $ 0.28
Weighted average Common Units outstanding - basic (in shares) 77,971 [1],[2] 75,586 [1],[2] 77,063 [1],[2] 75,393 [1],[2]
Earnings per Common Unit - diluted:        
Income from continuing operations available for common unitholders (in dollars per share) 0.15 0.13 0.30 0.26
Income from discontinued operations available for common unitholders (in dollars per share) 0.02 0.01 0.10 0.02
Net income available for common unitholders (in dollars per share) 0.17 0.14 0.40 0.28
Weighted average Common Units outstanding - diluted (in shares) 78,112 [1] 75,788 [1] 77,192 [1] 75,578 [1]
Distributions declared per Common Unit (in dollars per unit) $ 0.425 $ 0.425 $ 0.850 $ 0.850
Net income available for common unitholders:        
Income from continuing operations available for common unitholders 11,510 10,000 23,364 19,736
Income from discontinued operations available for common unitholders 2,141 739 7,810 1,654
Net income available for common unitholders $ 13,651 $ 10,739 $ 31,174 $ 21,390
[1] There were 0.5 million and 0.3 million options outstanding during the three months ended June 30, 2012 and 2011, respectively, and 0.5 million and 0.6 million options outstanding during the six months ended June 30, 2012 and 2011, respectively, that were not included in the computation of diluted earnings per share because the impact of including such options would be anti-dilutive.
[2] Includes all unvested restricted stock since dividends on restricted stock are non-forfeitable.