Earnings Per Share and Per Unit (Tables)

9 Months Ended

Sep. 30, 2018

Earnings Per Share and Per Unit Basic and Diluted [Line Items]

Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share of the Company:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Earnings per Common Share - basic:
Numerator:
Net income	$	35,009		$	59,549		$	122,253		$	132,588
Net (income) attributable to noncontrolling interests in the Operating Partnership	(902		)	(1,571		)	(3,171		)	(3,502		)
Net (income) attributable to noncontrolling interests in consolidated affiliates	(324		)	(315		)	(918		)	(914		)
Dividends on Preferred Stock	(623		)	(623		)	(1,869		)	(1,869		)
Net income available for common stockholders	$	33,160		$	57,040		$	116,295		$	126,303
Denominator:
Denominator for basic earnings per Common Share – weighted average shares	103,471			103,237			103,408			102,489
Net income available for common stockholders	$	0.32		$	0.55		$	1.12		$	1.23
Earnings per Common Share - diluted:
Numerator:
Net income	$	35,009		$	59,549		$	122,253		$	132,588
Net (income) attributable to noncontrolling interests in consolidated affiliates	(324		)	(315		)	(918		)	(914		)
Dividends on Preferred Stock	(623		)	(623		)	(1,869		)	(1,869		)
Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership	$	34,062		$	58,611		$	119,466		$	129,805
Denominator:
Denominator for basic earnings per Common Share – weighted average shares	103,471			103,237			103,408			102,489
Add:
Stock options using the treasury method	58			76			39			79
Noncontrolling interests Common Units	2,804			2,832			2,809			2,834
Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions (1)	106,333			106,145			106,256			105,402
Net income available for common stockholders	$	0.32		$	0.55		$	1.12		$	1.23

__________

(1) Includes all unvested restricted stock where dividends on such restricted stock are non-forfeitable.

Highwoods Realty Limited Partnership [Member]

Earnings Per Share and Per Unit Basic and Diluted [Line Items]

Earnings Per Unit

The following table sets forth the computation of basic and diluted earnings per unit of the Operating Partnership:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Earnings per Common Unit - basic:
Numerator:
Net income	$	35,009		$	59,549		$	122,253		$	132,588
Net (income) attributable to noncontrolling interests in consolidated affiliates	(324		)	(315		)	(918		)	(914		)
Distributions on Preferred Units	(623		)	(623		)	(1,869		)	(1,869		)
Net income available for common unitholders	$	34,062		$	58,611		$	119,466		$	129,805
Denominator:
Denominator for basic earnings per Common Unit – weighted average units	105,866			105,660			105,808			104,914
Net income available for common unitholders	$	0.32		$	0.55		$	1.13		$	1.24
Earnings per Common Unit - diluted:
Numerator:
Net income	$	35,009		$	59,549		$	122,253		$	132,588
Net (income) attributable to noncontrolling interests in consolidated affiliates	(324		)	(315		)	(918		)	(914		)
Distributions on Preferred Units	(623		)	(623		)	(1,869		)	(1,869		)
Net income available for common unitholders	$	34,062		$	58,611		$	119,466		$	129,805
Denominator:
Denominator for basic earnings per Common Unit – weighted average units	105,866			105,660			105,808			104,914
Add:
Stock options using the treasury method	58			76			39			79
Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions (1)	105,924			105,736			105,847			104,993
Net income available for common unitholders	$	0.32		$	0.55		$	1.13		$	1.24

__________

(1) Includes all unvested restricted stock where distributions on such restricted stock are non-forfeitable.