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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Rental and other revenues $ 166,860 $ 148,543 $ 331,719 $ 293,779
Operating expenses:        
Rental property and other expenses 57,515 52,370 115,095 104,884
Depreciation and amortization 55,317 47,928 108,811 94,795
General and administrative 8,327 8,665 19,464 19,908
Total operating expenses 121,159 108,963 243,370 219,587
Interest expense:        
Contractual 18,674 20,857 38,389 41,299
Amortization of debt issuance costs 811 828 1,801 1,628
Financing obligation 0 162 0 162
Total interest expense 19,485 21,847 40,190 43,089
Other income:        
Interest and other income 534 520 1,051 1,102
Losses on debt extinguishment 0 (220) 0 (220)
Total other income 534 300 1,051 882
Income from continuing operations before disposition of investment properties and activity in unconsolidated affiliates 26,750 18,033 49,210 31,985
Gains on disposition of property 5,861 2,412 10,258 3,569
Equity in earnings of unconsolidated affiliates 917 1,776 2,202 3,587
Income from continuing operations 33,528 22,221 61,670 39,141
Discontinued operations:        
Income from discontinued operations 0 4,670 4,097 8,585
Net gains on disposition of discontinued operations 0 0 414,496 0
Total income from discontinued operations 0 4,670 418,593 8,585
Net income 33,528 26,891 480,263 47,726
Net (income) attributable to noncontrolling interests in the Operating Partnership (939) (782) (13,950) (1,378)
Net (income) attributable to noncontrolling interests in consolidated affiliates (314) (328) (622) (624)
Dividends on Preferred Stock (627) (626) (1,253) (1,253)
Net income available for common stockholders $ 31,648 $ 25,155 $ 464,438 $ 44,471
Earnings per Common Share – basic:        
Income from continuing operations available for common stockholders (in dollars per share) $ 0.32 $ 0.22 $ 0.60 $ 0.39
Income from discontinued operations available for common stockholders (in dollars per share) 0.00 0.05 4.19 0.08
Net income available for common stockholders (in dollars per share) $ 0.32 $ 0.27 $ 4.79 $ 0.47
Weighted average Common Shares outstanding - basic (in shares) 97,648 94,055 97,010 93,641
Earnings per Common Share - diluted:        
Income from continuing operations available for common stockholders (in dollars per share) $ 0.32 $ 0.22 $ 0.60 $ 0.39
Income from discontinued operations available for common stockholders (in dollars per share) 0.00 0.05 4.18 0.08
Net income available for common stockholders (in dollars per share) $ 0.32 $ 0.27 $ 4.78 $ 0.47
Weighted average Common Shares outstanding - diluted (in shares) [1] 100,628 97,049 99,992 96,666
Dividends declared per Common Share (in dollars per share) $ 0.425 $ 0.425 $ 0.85 $ 0.85
Net income available for common stockholders:        
Income from continuing operations available for common stockholders $ 31,648 $ 20,626 $ 58,110 $ 36,147
Income from discontinued operations available for common stockholders 0 4,529 406,328 8,324
Net income available for common stockholders 31,648 25,155 464,438 44,471
Highwoods Realty Limited Partnership [Member]        
Rental and other revenues 166,860 148,543 331,719 293,779
Operating expenses:        
Rental property and other expenses 57,515 52,370 115,095 104,884
Depreciation and amortization 55,317 47,928 108,811 94,795
General and administrative 8,327 8,665 19,464 19,908
Total operating expenses 121,159 108,963 243,370 219,587
Interest expense:        
Contractual 18,674 20,857 38,389 41,299
Amortization of debt issuance costs 811 828 1,801 1,628
Financing obligation 0 162 0 162
Total interest expense 19,485 21,847 40,190 43,089
Other income:        
Interest and other income 534 520 1,051 1,102
Losses on debt extinguishment 0 (220) 0 (220)
Total other income 534 300 1,051 882
Income from continuing operations before disposition of investment properties and activity in unconsolidated affiliates 26,750 18,033 49,210 31,985
Gains on disposition of property 5,861 2,412 10,258 3,569
Equity in earnings of unconsolidated affiliates 917 1,776 2,202 3,587
Income from continuing operations 33,528 22,221 61,670 39,141
Discontinued operations:        
Income from discontinued operations 0 4,670 4,097 8,585
Net gains on disposition of discontinued operations 0 0 414,496 0
Total income from discontinued operations 0 4,670 418,593 8,585
Net income 33,528 26,891 480,263 47,726
Net (income) attributable to noncontrolling interests in consolidated affiliates (314) (328) (622) (624)
Distributions on Preferred Units (627) (626) (1,253) (1,253)
Net income available for common unitholders $ 32,587 $ 25,937 $ 478,388 $ 45,849
Earnings per Common Unit - basic:        
Income from continuing operations available for common unitholders (in dollars per share) $ 0.33 $ 0.22 $ 0.60 $ 0.39
Income from discontinued operations available for common unitholders (in dollars per share) 0.00 0.05 4.21 0.09
Net income available for common unitholders (in dollars per share) $ 0.33 $ 0.27 $ 4.81 $ 0.48
Weighted average Common Units outstanding - basic (in shares) 100,129 96,556 99,496 96,153
Earnings per Common Unit - diluted:        
Income from continuing operations available for common unitholders (in dollars per share) $ 0.33 $ 0.22 $ 0.60 $ 0.39
Income from discontinued operations available for common unitholders (in dollars per share) 0.00 0.05 4.20 0.09
Net income available for common unitholders (in dollars per share) $ 0.33 $ 0.27 $ 4.80 $ 0.48
Weighted average Common Units outstanding - diluted (in shares) [2] 100,219 96,640 99,583 96,257
Distributions declared per Common Unit (in dollars per unit) $ 0.425 $ 0.425 $ 0.85 $ 0.85
Net income available for common unitholders:        
Income from continuing operations available for common unitholders $ 32,587 $ 21,267 $ 59,795 $ 37,264
Income from discontinued operations available for common unitholders 0 4,670 418,593 8,585
Net income available for common unitholders $ 32,587 $ 25,937 $ 478,388 $ 45,849
[1] Includes all unvested restricted stock where dividends on such restricted stock are non-forfeitable.
[2] Includes all unvested restricted stock where dividends on such restricted stock are non-forfeitable.