Earnings Per Share and Per Unit (Tables)

12 Months Ended

Dec. 31, 2019

Earnings Per Share/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:

	Year Ended December 31,
	2019			2018			2017
Earnings per Common Share - basic:
Numerator:
Net income	$	141,683		$	177,630		$	191,663
Net (income) attributable to noncontrolling interests in the Operating Partnership	(3,551		)	(4,588		)	(5,059		)
Net (income) attributable to noncontrolling interests in consolidated affiliates	(1,214		)	(1,207		)	(1,239		)
Dividends on Preferred Stock	(2,488		)	(2,492		)	(2,492		)
Net income available for common stockholders	$	134,430		$	169,343		$	182,873
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)	103,692			103,439			102,682
Net income available for common stockholders	$	1.30		$	1.64		$	1.78
Earnings per Common Share - diluted:
Numerator:
Net income	$	141,683		$	177,630		$	191,663
Net (income) attributable to noncontrolling interests in consolidated affiliates	(1,214		)	(1,207		)	(1,239		)
Dividends on Preferred Stock	(2,488		)	(2,492		)	(2,492		)
Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership	$	137,981		$	173,931		$	187,932
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)	103,692			103,439			102,682
Add:
Stock options using the treasury method	22			33			79
Noncontrolling interests Common Units	2,731			2,796			2,833
Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions	106,445			106,268			105,594
Net income available for common stockholders	$	1.30		$	1.64		$	1.78

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(1)

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

Highwoods Realty Limited Partnership [Member]

Earnings Per Share/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:

	Year Ended December 31,
	2019			2018			2017
Earnings per Common Unit - basic:
Numerator:
Net income	$	141,683		$	177,630		$	191,663
Net (income) attributable to noncontrolling interests in consolidated affiliates	(1,214		)	(1,207		)	(1,239		)
Distributions on Preferred Units	(2,488		)	(2,492		)	(2,492		)
Net income available for common unitholders	$	137,981		$	173,931		$	187,932
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)	106,014			105,826			105,106
Net income available for common unitholders	$	1.30		$	1.64		$	1.79
Earnings per Common Unit - diluted:
Numerator:
Net income	$	141,683		$	177,630		$	191,663
Net (income) attributable to noncontrolling interests in consolidated affiliates	(1,214		)	(1,207		)	(1,239		)
Distributions on Preferred Units	(2,488		)	(2,492		)	(2,492		)
Net income available for common unitholders	$	137,981		$	173,931		$	187,932
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)	106,014			105,826			105,106
Add:
Stock options using the treasury method	22			33			79
Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions	106,036			105,859			105,185
Net income available for common unitholders	$	1.30		$	1.64		$	1.79

__________

(1)

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