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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, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Rental and other revenues $ 138,515 $ 126,728 $ 274,631 $ 250,762
Operating expenses:        
Rental property and other expenses 49,633 45,884 98,372 90,066
Depreciation and amortization 42,394 38,991 84,208 75,687
Impairments of real estate assets 1,066 0 1,066 0
General and administrative 8,397 8,900 18,979 18,573
Total operating expenses 101,490 93,775 202,625 184,326
Interest expense:        
Contractual 22,398 23,548 45,196 47,399
Amortization of deferred financing costs 948 900 1,897 1,802
Financing obligations (60) (76) 61 (152)
Total interest expense 23,286 24,372 47,154 49,049
Other income:        
Interest and other income 1,617 1,737 3,400 3,967
Losses on debt extinguishment 0 (973) (164) (973)
Total other income 1,617 764 3,236 2,994
Income from continuing operations before disposition of property and condominiums and equity in earnings of unconsolidated affiliates 15,356 9,345 28,088 20,381
Losses on disposition of property (37) 0 (37) 0
Gains on for-sale residential condominiums 0 110 0 175
Equity in earnings of unconsolidated affiliates 913 1,508 1,349 1,346
Income from continuing operations 16,232 10,963 29,400 21,902
Discontinued operations:        
Income from discontinued operations 184 2,150 245 4,409
Net gains on disposition of discontinued operations 13,163 1,385 13,694 6,519
Total discontinued operations 13,347 3,535 13,939 10,928
Net income 29,579 14,498 43,339 32,830
Net (income) attributable to noncontrolling interests in the Operating Partnership (1,243) (686) (1,824) (1,513)
Net (income) attributable to noncontrolling interests in consolidated affiliates (187) (223) (390) (407)
Dividends on Preferred Stock (627) (627) (1,254) (1,254)
Net income available for common stockholders 27,522 12,962 39,871 29,656
Earnings per Common Share – basic:        
Income from continuing operations available for common stockholders (in dollars per share) $ 0.18 $ 0.13 $ 0.33 $ 0.26
Income from discontinued operations available for common stockholders (in dollars per share) $ 0.15 $ 0.04 $ 0.16 $ 0.14
Net income available for common stockholders (in dollars per share) $ 0.33 $ 0.17 $ 0.49 $ 0.40
Weighted average Common Shares outstanding - basic (in shares) 82,811 [1],[2] 74,662 [1],[2] 81,925 [1],[2] 73,749 [1],[2]
Earnings per Common Share - diluted:        
Income from continuing operations available for common stockholders (in dollars per share) $ 0.18 $ 0.13 $ 0.33 $ 0.26
Income from discontinued operations available for common stockholders (in dollars per share) $ 0.15 $ 0.04 $ 0.16 $ 0.14
Net income available for common stockholders (in dollars per share) $ 0.33 $ 0.17 $ 0.49 $ 0.40
Weighted average Common Shares outstanding - diluted (in shares) 86,631 [2] 78,521 [2] 85,752 [2] 77,601 [2]
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 14,746 9,596 26,529 19,259
Income from discontinued operations available for common stockholders 12,776 3,366 13,342 10,397
Net income available for common stockholders 27,522 12,962 39,871 29,656
Highwoods Realty Limited Partnership [Member]
       
Rental and other revenues 138,515 126,728 274,631 250,762
Operating expenses:        
Rental property and other expenses 49,611 45,825 98,376 89,945
Depreciation and amortization 42,394 38,991 84,208 75,687
Impairments of real estate assets 1,066 0 1,066 0
General and administrative 8,419 8,959 18,975 18,694
Total operating expenses 101,490 93,775 202,625 184,326
Interest expense:        
Contractual 22,398 23,548 45,196 47,399
Amortization of deferred financing costs 948 900 1,897 1,802
Financing obligations (60) (76) 61 (152)
Total interest expense 23,286 24,372 47,154 49,049
Other income:        
Interest and other income 1,617 1,737 3,400 3,967
Losses on debt extinguishment 0 (973) (164) (973)
Total other income 1,617 764 3,236 2,994
Income from continuing operations before disposition of property and condominiums and equity in earnings of unconsolidated affiliates 15,356 9,345 28,088 20,381
Losses on disposition of property (37) 0 (37) 0
Gains on for-sale residential condominiums 0 110 0 175
Equity in earnings of unconsolidated affiliates 916 1,511 1,299 1,351
Income from continuing operations 16,235 10,966 29,350 21,907
Discontinued operations:        
Income from discontinued operations 184 2,150 245 4,409
Net gains on disposition of discontinued operations 13,163 1,385 13,694 6,519
Total discontinued operations 13,347 3,535 13,939 10,928
Net income 29,582 14,501 43,289 32,835
Net (income) attributable to noncontrolling interests in consolidated affiliates (187) (223) (390) (407)
Distributions on Preferred Units (627) (627) (1,254) (1,254)
Net income available for common unitholders 28,768 13,651 41,645 31,174
Earnings per Common Unit - basic:        
Income from continuing operations available for common unitholders (in dollars per share) $ 0.18 $ 0.13 $ 0.33 $ 0.26
Income from discontinued operations available for common unitholders (in dollars per share) $ 0.15 $ 0.05 $ 0.16 $ 0.14
Net income available for common unitholders (in dollars per share) $ 0.33 $ 0.18 $ 0.49 $ 0.40
Weighted average Common Units outstanding - basic (in shares) 86,090 [1],[2],[3] 77,971 [1],[3] 85,223 [1],[3] 77,063 [1],[3]
Earnings per Common Unit - diluted:        
Income from continuing operations available for common unitholders (in dollars per share) 0.18 0.13 0.33 0.26
Income from discontinued operations available for common unitholders (in dollars per share) 0.15 0.04 0.16 0.14
Net income available for common unitholders (in dollars per share) 0.33 0.17 0.49 0.40
Weighted average Common Units outstanding - diluted (in shares) 86,222 [3] 78,112 [2],[3] 85,343 [3] 77,192 [3]
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 15,421 10,116 27,706 20,246
Total discontinued operations 13,347 3,535 13,939 10,928
Net income available for common unitholders $ 28,768 $ 13,651 $ 41,645 $ 31,174
[1] Includes all unvested restricted stock where dividends on such restricted stock are non-forfeitable.
[2] There were 0.3 million and 0.5 million options outstanding during the three months ended June 30, 2013 and 2012, respectively, and 0.3 million and 0.5 million options outstanding during the six months ended June 30, 2013 and 2012, respectively, that were not included in the computation of diluted earnings per share because the impact of including such options would be anti-dilutive.
[3] There were 0.3 million and 0.5 million options outstanding during the three months ended June 30, 2013 and 2012, respectively, and 0.3 million and 0.5 million options outstanding during the six months ended June 30, 2013 and 2012, respectively, that were not included in the computation of diluted earnings per unit because the impact of including such options would be anti-dilutive.