Earnings Per Share and Per Unit (Tables)

6 Months Ended

Jun. 30, 2019

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 June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Earnings per Common Share - basic:
Numerator:
Net income	$	41,394		$	52,998		$	49,780		$	87,244
Net (income) attributable to noncontrolling interests in the Operating Partnership	(1,044		)	(1,381		)	(1,237		)	(2,269		)
Net (income) attributable to noncontrolling interests in consolidated affiliates	(306		)	(308		)	(622		)	(594		)
Dividends on Preferred Stock	(622		)	(623		)	(1,244		)	(1,246		)
Net income available for common stockholders	$	39,422		$	50,686		$	46,677		$	83,135
Denominator:
Denominator for basic earnings per Common Share – weighted average shares	103,693			103,428			103,647			103,376
Net income available for common stockholders	$	0.38		$	0.49		$	0.45		$	0.80
Earnings per Common Share - diluted:
Numerator:
Net income	$	41,394		$	52,998		$	49,780		$	87,244
Net (income) attributable to noncontrolling interests in consolidated affiliates	(306		)	(308		)	(622		)	(594		)
Dividends on Preferred Stock	(622		)	(623		)	(1,244		)	(1,246		)
Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership	$	40,466		$	52,067		$	47,914		$	85,404
Denominator:
Denominator for basic earnings per Common Share – weighted average shares	103,693			103,428			103,647			103,376
Add:
Stock options using the treasury method	19			32			20			29
Noncontrolling interests Common Units	2,733			2,807			2,735			2,811
Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions (1)	106,445			106,267			106,402			106,216
Net income available for common stockholders	$	0.38		$	0.49		$	0.45		$	0.80

__________

(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 June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Earnings per Common Unit - basic:
Numerator:
Net income	$	41,394		$	52,998		$	49,780		$	87,244
Net (income) attributable to noncontrolling interests in consolidated affiliates	(306		)	(308		)	(622		)	(594		)
Distributions on Preferred Units	(622		)	(623		)	(1,244		)	(1,246		)
Net income available for common unitholders	$	40,466		$	52,067		$	47,914		$	85,404
Denominator:
Denominator for basic earnings per Common Unit – weighted average units	106,017			105,826			105,973			105,778
Net income available for common unitholders	$	0.38		$	0.49		$	0.45		$	0.81
Earnings per Common Unit - diluted:
Numerator:
Net income	$	41,394		$	52,998		$	49,780		$	87,244
Net (income) attributable to noncontrolling interests in consolidated affiliates	(306		)	(308		)	(622		)	(594		)
Distributions on Preferred Units	(622		)	(623		)	(1,244		)	(1,246		)
Net income available for common unitholders	$	40,466		$	52,067		$	47,914		$	85,404
Denominator:
Denominator for basic earnings per Common Unit – weighted average units	106,017			105,826			105,973			105,778
Add:
Stock options using the treasury method	19			32			20			29
Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions (1)	106,036			105,858			105,993			105,807
Net income available for common unitholders	$	0.38		$	0.49		$	0.45		$	0.81

__________

(1)

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