Earnings Per Share and Per Unit (Tables)

9 Months Ended

Sep. 30, 2020

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,
	2020		2019		2020		2019
Earnings per Common Share - basic:
Numerator:
Net income	$	42,331	$	29,557	$	272,627	$	79,337
Net (income) attributable to noncontrolling interests in the Operating Partnership	(1,107)		(737)		(7,084)		(1,974)
Net (income) attributable to noncontrolling interests in consolidated affiliates	(298)		(297)		(872)		(919)
Dividends on Preferred Stock	(622)		(622)		(1,866)		(1,866)
Net income available for common stockholders	$	40,304	$	27,901	$	262,805	$	74,578
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)	103,896		103,727		103,865		103,674
Net income available for common stockholders	$	0.39	$	0.27	$	2.53	$	0.72
Earnings per Common Share - diluted:
Numerator:
Net income	$	42,331	$	29,557	$	272,627	$	79,337
Net (income) attributable to noncontrolling interests in consolidated affiliates	(298)		(297)		(872)		(919)
Dividends on Preferred Stock	(622)		(622)		(1,866)		(1,866)
Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership	$	41,411	$	28,638	$	269,889	$	76,552
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)	103,896		103,727		103,865		103,674
Add:
Stock options using the treasury method	2		16		10		18
Noncontrolling interests Common Units	2,842		2,728		2,827		2,733
Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions	106,740		106,471		106,702		106,425
Net income available for common stockholders	$	0.39	$	0.27	$	2.53	$	0.72

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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 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,
	2020		2019		2020		2019
Earnings per Common Unit - basic:
Numerator:
Net income	$	42,331	$	29,557	$	272,627	$	79,337
Net (income) attributable to noncontrolling interests in consolidated affiliates	(298)		(297)		(872)		(919)
Distributions on Preferred Units	(622)		(622)		(1,866)		(1,866)
Net income available for common unitholders	$	41,411	$	28,638	$	269,889	$	76,552
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)	106,329		106,046		106,283		105,998
Net income available for common unitholders	$	0.39	$	0.27	$	2.54	$	0.72
Earnings per Common Unit - diluted:
Numerator:
Net income	$	42,331	$	29,557	$	272,627	$	79,337
Net (income) attributable to noncontrolling interests in consolidated affiliates	(298)		(297)		(872)		(919)
Distributions on Preferred Units	(622)		(622)		(1,866)		(1,866)
Net income available for common unitholders	$	41,411	$	28,638	$	269,889	$	76,552
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)	106,329		106,046		106,283		105,998
Add:
Stock options using the treasury method	2		16		10		18
Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions	106,331		106,062		106,293		106,016
Net income available for common unitholders	$	0.39	$	0.27	$	2.54	$	0.72

__________

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