Earnings Per Share and Per Unit (Tables)

3 Months Ended

Mar. 31, 2021

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 March 31,
	2021		2020
Earnings per Common Share - basic:
Numerator:
Net income	$	56,855	$	191,340
Net (income) attributable to noncontrolling interests in the Operating Partnership	(1,493)		(4,960)
Net (income) attributable to noncontrolling interests in consolidated affiliates	(281)		(285)
Dividends on Preferred Stock	(622)		(622)
Net income available for common stockholders	$	54,459	$	185,473
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)	103,963		103,813
Net income available for common stockholders	$	0.52	$	1.79
Earnings per Common Share - diluted:
Numerator:
Net income	$	56,855	$	191,340
Net (income) attributable to noncontrolling interests in consolidated affiliates	(281)		(285)
Dividends on Preferred Stock	(622)		(622)
Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership	$	55,952	$	190,433
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)	103,963		103,813
Add:
Stock options using the treasury method	8		25
Noncontrolling interests Common Units	2,839		2,795
Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions	106,810		106,633
Net income available for common stockholders	$	0.52	$	1.79

__________

(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 March 31,
	2021		2020
Earnings per Common Unit - basic:
Numerator:
Net income	$	56,855	$	191,340
Net (income) attributable to noncontrolling interests in consolidated affiliates	(281)		(285)
Distributions on Preferred Units	(622)		(622)
Net income available for common unitholders	$	55,952	$	190,433
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)	106,393		106,199
Net income available for common unitholders	$	0.53	$	1.79
Earnings per Common Unit - diluted:
Numerator:
Net income	$	56,855	$	191,340
Net (income) attributable to noncontrolling interests in consolidated affiliates	(281)		(285)
Distributions on Preferred Units	(622)		(622)
Net income available for common unitholders	$	55,952	$	190,433
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)	106,393		106,199
Add:
Stock options using the treasury method	8		25
Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions	106,401		106,224
Net income available for common unitholders	$	0.53	$	1.79

__________

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