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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities:      
Net income $ 323,310 $ 357,914 $ 141,683
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 259,255 241,585 254,504
Amortization of lease incentives and acquisition-related intangible assets and liabilities (1,903) (2,537) (505)
Share-based compensation expense 8,646 6,210 7,180
Net credit losses on operating lease receivables 425 5,458 9,861
Write-off of mortgages and notes receivable 0 0 4,087
Accrued interest on mortgages and notes receivable (103) (118) (184)
Amortization of debt issuance costs 4,451 3,092 2,970
Amortization of cash flow hedges 508 247 (1,250)
Amortization of mortgages and notes payable fair value adjustments 862 1,681 1,619
Impairments of real estate assets 0 1,778 5,849
Losses on debt extinguishment 286 3,674 640
Net gains on disposition of property (174,059) (215,897) (39,517)
Equity in earnings of unconsolidated affiliates (1,947) (4,005) (3,276)
Distributions of earnings from unconsolidated affiliates 1,417 1,533 1,149
Settlement of cash flow hedges 0 0 (11,749)
Changes in operating assets and liabilities:      
Accounts receivable 5,744 437 (3,271)
Prepaid expenses and other assets 1,575 (365) 1,610
Accrued straight-line rents receivable (22,100) (36,576) (29,828)
Accounts payable, accrued expenses and other liabilities 8,191 (5,951) 24,225
Net cash provided by operating activities 414,558 358,160 365,797
Investing activities:      
Investments in acquired real estate and related intangible assets, net of cash acquired (305,291) (2,363) (424,222)
Investments in development in-process (77,854) (160,612) (116,111)
Investments in tenant improvements and deferred leasing costs (93,654) (137,997) (138,754)
Investments in building improvements (48,405) (62,154) (53,826)
Investment in acquired controlling interest in unconsolidated affiliate (127,339) 0 0
Net proceeds from disposition of real estate assets 374,016 484,311 133,326
Distributions of capital from unconsolidated affiliates 0 72 7,833
Investments in mortgages and notes receivable (84) (32) 0
Repayments of mortgages and notes receivable 301 310 295
Investments in and advances to unconsolidated affiliates (6,079) 0 (9,977)
Changes in other investing activities (3,289) (10,853) (5,971)
Net cash provided by/(used in) investing activities (287,678) 110,682 (607,407)
Financing activities:      
Dividends on Common Stock (204,182) (199,331) (196,935)
Redemptions/repurchases of Preferred Stock (5) (33) (18)
Dividends on Preferred Stock (2,486) (2,488) (2,488)
Distributions to noncontrolling interests in the Operating Partnership (5,516) (5,456) (5,189)
Distributions to noncontrolling interests in consolidated affiliates (1,342) (1,138) (1,767)
Proceeds from the issuance of Common Stock 23,917 3,571 2,086
Costs paid for the issuance of Common Stock (535) (215) 0
Repurchase of shares related to tax withholdings (1,718) (1,160) (1,788)
Borrowings on revolving credit facility 380,000 129,000 604,600
Repayments of revolving credit facility (310,000) (350,000) (565,600)
Borrowings on mortgages and notes payable 200,000 398,364 747,990
Repayments of mortgages and notes payable (353,780) (251,952) (326,876)
Payments of debt extinguishment costs 0 (3,193) 0
Changes in debt issuance costs and other financing activities (9,279) (10,309) (7,806)
Net cash provided by/(used in) financing activities (284,926) (294,340) 246,209
Net increase/(decrease) in cash and cash equivalents and restricted cash (158,046) 174,502 4,599
Cash and cash equivalents and restricted cash at beginning of the period 189,244 14,742 10,143
Cash and cash equivalents and restricted cash at end of the period 31,198 189,244 14,742
Reconciliation of cash and cash equivalents and restricted cash:      
Cash and cash equivalents at end of the period 23,152 109,322 9,505
Restricted cash at end of the period 8,046 79,922 5,237
Supplemental disclosure of cash flow information:      
Cash paid for interest, net of amounts capitalized 79,474 72,350 72,014
Supplemental disclosure of non-cash investing and financing activities:      
Unrealized losses on cash flow hedges (19) (1,238) (9,134)
Conversions of Common Units to Common Stock 15,076 145 663
Changes in accrued capital expenditures (1) [1] (9,843) (1,913) 5,625
Write-off of fully depreciated real estate assets 68,307 46,656 85,727
Write-off of fully amortized leasing costs 43,648 25,618 45,042
Write-off of fully amortized debt issuance costs 5,200 1,438 1,791
Adjustment of noncontrolling interests in the Operating Partnership to fair value 11,461 (30,617) 29,557
Assumption of mortgages and notes payable related to acquisition activities 403,000 0 0
Issuances of Common Units to acquire real estate assets 0 6,163 0
Contingent consideration in connection with the acquisition of land 0 0 1,200
Contributions from noncontrolling interests in consolidated affiliates 0 0 4,987
Initial recognition of lease liabilities related to right of use assets 5,310 0 35,349
Future consideration in connection with the acquisition of land 16,000 0 0
Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities 56,100 66,000 67,900
Highwoods Realty Limited Partnership [Member]      
Operating activities:      
Net income 323,310 357,914 141,683
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 259,255 241,585 254,504
Amortization of lease incentives and acquisition-related intangible assets and liabilities (1,903) (2,537) (505)
Share-based compensation expense 8,646 6,210 7,180
Net credit losses on operating lease receivables 425 5,458 9,861
Write-off of mortgages and notes receivable 0 0 4,087
Accrued interest on mortgages and notes receivable (103) (118) (184)
Amortization of debt issuance costs 4,451 3,092 2,970
Amortization of cash flow hedges 508 247 (1,250)
Amortization of mortgages and notes payable fair value adjustments 862 1,681 1,619
Impairments of real estate assets 0 1,778 5,849
Losses on debt extinguishment 286 3,674 640
Net gains on disposition of property (174,059) (215,897) (39,517)
Equity in earnings of unconsolidated affiliates (1,947) (4,005) (3,276)
Distributions of earnings from unconsolidated affiliates 1,417 1,533 1,149
Settlement of cash flow hedges 0 0 (11,749)
Changes in operating assets and liabilities:      
Accounts receivable 5,744 437 (3,271)
Prepaid expenses and other assets 1,575 (365) 1,610
Accrued straight-line rents receivable (22,100) (36,576) (29,828)
Accounts payable, accrued expenses and other liabilities 8,191 (5,951) 24,225
Net cash provided by operating activities 414,558 358,160 365,797
Investing activities:      
Investments in acquired real estate and related intangible assets, net of cash acquired (305,291) (2,363) (424,222)
Investments in development in-process (77,854) (160,612) (116,111)
Investments in tenant improvements and deferred leasing costs (93,654) (137,997) (138,754)
Investments in building improvements (48,405) (62,154) (53,826)
Investment in acquired controlling interest in unconsolidated affiliate (127,339) 0 0
Net proceeds from disposition of real estate assets 374,016 484,311 133,326
Distributions of capital from unconsolidated affiliates 0 72 7,833
Investments in mortgages and notes receivable (84) (32) 0
Repayments of mortgages and notes receivable 301 310 295
Investments in and advances to unconsolidated affiliates (6,079) 0 (9,977)
Changes in other investing activities (3,289) (10,853) (5,971)
Net cash provided by/(used in) investing activities (287,678) 110,682 (607,407)
Financing activities:      
Distributions on Common Units (208,896) (204,002) (201,347)
Redemptions/repurchases of Preferred Units (5) (33) (18)
Distributions on Preferred Units (2,486) (2,488) (2,488)
Distributions to noncontrolling interests in consolidated affiliates (1,342) (1,138) (1,767)
Proceeds from the issuance of Common Units 23,917 3,571 2,086
Costs paid for the issuance of Common Units (535) (215) 0
Repurchase of units related to tax withholdings (1,718) (1,160) (1,788)
Borrowings on revolving credit facility 380,000 129,000 604,600
Repayments of revolving credit facility (310,000) (350,000) (565,600)
Borrowings on mortgages and notes payable 200,000 398,364 747,990
Repayments of mortgages and notes payable (353,780) (251,952) (326,876)
Payments of debt extinguishment costs 0 (3,193) 0
Changes in debt issuance costs and other financing activities (10,081) (11,094) (8,583)
Net cash provided by/(used in) financing activities (284,926) (294,340) 246,209
Net increase/(decrease) in cash and cash equivalents and restricted cash (158,046) 174,502 4,599
Cash and cash equivalents and restricted cash at beginning of the period 189,244 14,742 10,143
Cash and cash equivalents and restricted cash at end of the period 31,198 189,244 14,742
Reconciliation of cash and cash equivalents and restricted cash:      
Cash and cash equivalents at end of the period 23,152 109,322 9,505
Restricted cash at end of the period 8,046 79,922 5,237
Supplemental disclosure of cash flow information:      
Cash paid for interest, net of amounts capitalized 79,474 72,350 72,014
Supplemental disclosure of non-cash investing and financing activities:      
Unrealized losses on cash flow hedges (19) (1,238) (9,134)
Changes in accrued capital expenditures (1) [2] (9,843) (1,913) 5,625
Write-off of fully depreciated real estate assets 68,307 46,656 85,727
Write-off of fully amortized leasing costs 43,648 25,618 45,042
Write-off of fully amortized debt issuance costs 5,200 1,438 1,791
Assumption of mortgages and notes payable related to acquisition activities 403,000 0 0
Adjustment of Redeemable Common Units to fair value (810) (26,880) 27,256
Issuances of Common Units to acquire real estate assets 0 6,163 0
Contingent consideration in connection with the acquisition of land 0 0 1,200
Contributions from noncontrolling interests in consolidated affiliates 0 0 4,987
Initial recognition of lease liabilities related to right of use assets 5,310 0 35,349
Future consideration in connection with the acquisition of land 16,000 0 0
Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities $ 56,100 $ 66,000 $ 67,900
[1] Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities at December 31, 2021, 2020 and 2019 were $56.1 million, $66.0 million and $67.9 million, respectively.
[2] Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities at December 31, 2021, 2020 and 2019 were $56.1 million, $66.0 million and $67.9 million, respectively.