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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Rental and other revenues $ 128,214 $ 117,265 $ 382,120 $ 339,497
Operating expenses:        
Rental property and other expenses 47,233 44,031 138,132 122,358
Depreciation and amortization 38,651 35,051 115,755 99,659
Impairments of real estate assets 0 2,429 0 2,429
General and administrative 9,725 12,212 28,298 27,983
Total operating expenses 95,609 93,723 282,185 252,429
Interest expense:        
Contractual 22,910 23,264 70,309 68,444
Amortization of deferred financing costs 907 806 2,709 2,448
Financing obligations (205) 201 (357) 584
Total interest expense 23,612 24,271 72,661 71,476
Other income:        
Interest and other income 1,916 1,505 5,883 5,277
Losses on debt extinguishment 0 0 (973) (24)
Total other income 1,916 1,505 4,910 5,253
Income from continuing operations before disposition of property, condominiums and investments in unconsolidated affiliates and equity in earnings of unconsolidated affiliates 10,909 776 32,184 20,845
Gains on disposition of property 0 262 0 462
Gains/(losses) on for-sale residential condominiums 80 (476) 255 (322)
Gains on disposition of investments in unconsolidated affiliates 0 2,282 0 2,282
Equity in earnings of unconsolidated affiliates 1,324 1,113 2,670 3,933
Income from continuing operations 12,313 3,957 35,109 27,200
Discontinued operations:        
Income from discontinued operations 547 1,714 4,062 5,348
Net gains on disposition of discontinued operations 22,936 2,573 29,455 2,573
Total discontinued operations 23,483 4,287 33,517 7,921
Net income 35,796 8,244 68,626 35,121
Net (income) attributable to noncontrolling interests in the Operating Partnership (1,653) (366) (3,166) (1,496)
Net (income) attributable to noncontrolling interests in consolidated affiliates (159) (249) (566) (554)
Dividends on Preferred Stock (627) (627) (1,881) (3,926)
Excess of Preferred Stock redemption/repurchase cost over carrying value 0 0 0 (1,895)
Net income available for common stockholders 33,357 7,002 63,013 27,250
Earnings per Common Share - basic:        
Income from continuing operations available for common stockholders (in dollars per share) $ 0.15 $ 0.04 $ 0.42 $ 0.28
Income from discontinued operations available for common stockholders (in dollars per share) $ 0.29 $ 0.06 $ 0.42 $ 0.10
Net income available for common stockholders (in dollars per share) $ 0.44 $ 0.10 $ 0.84 $ 0.38
Weighted average Common Shares outstanding - basic (in shares) 76,590 [1],[2] 72,492 [1],[2] 74,703 [1],[2] 72,176 [1],[2]
Earnings per Common Share - diluted:        
Income from continuing operations available for common stockholders (in dollars per share) $ 0.14 $ 0.04 $ 0.42 $ 0.28
Income from discontinued operations available for common stockholders (in dollars per share) $ 0.29 $ 0.06 $ 0.42 $ 0.10
Net income available for common stockholders (in dollars per share) $ 0.43 $ 0.10 $ 0.84 $ 0.38
Weighted average Common Shares outstanding - diluted (in shares) 80,495 [1] 76,402 [1] 78,568 [1] 76,127 [1]
Dividends declared per Common Share (in dollars per share) $ 0.425 $ 0.425 $ 1.275 $ 1.275
Net income available for common stockholders:        
Income from continuing operations available for common stockholders 10,980 2,928 31,090 19,724
Income from discontinued operations available for common stockholders 22,377 4,074 31,923 7,526
Net income available for common stockholders 33,357 7,002 63,013 27,250
Highwoods Realty Limited Partnership [Member]
       
Rental and other revenues 128,214 117,265 382,120 339,497
Operating expenses:        
Rental property and other expenses 47,159 43,963 137,937 122,376
Depreciation and amortization 38,651 35,051 115,755 99,659
Impairments of real estate assets 0 2,429 0 2,429
General and administrative 9,799 12,280 28,493 27,965
Total operating expenses 95,609 93,723 282,185 252,429
Interest expense:        
Contractual 22,910 23,264 70,309 68,444
Amortization of deferred financing costs 907 806 2,709 2,448
Financing obligations (205) 201 (357) 584
Total interest expense 23,612 24,271 72,661 71,476
Other income:        
Interest and other income 1,916 1,505 5,883 5,277
Losses on debt extinguishment 0 0 (973) (24)
Total other income 1,916 1,505 4,910 5,253
Income from continuing operations before disposition of property, condominiums and investments in unconsolidated affiliates and equity in earnings of unconsolidated affiliates 10,909 776 32,184 20,845
Gains on disposition of property 0 262 0 462
Gains/(losses) on for-sale residential condominiums 80 (476) 255 (322)
Gains on disposition of investments in unconsolidated affiliates 0 2,282 0 2,282
Equity in earnings of unconsolidated affiliates 1,328 1,113 2,679 3,945
Income from continuing operations 12,317 3,957 35,118 27,212
Discontinued operations:        
Income from discontinued operations 547 1,714 4,062 5,348
Net gains on disposition of discontinued operations 22,936 2,573 29,455 2,573
Total discontinued operations 23,483 4,287 33,517 7,921
Net income 35,800 8,244 68,635 35,133
Net (income) attributable to noncontrolling interests in consolidated affiliates (159) (249) (566) (554)
Distributions on Preferred Units (627) (627) (1,881) (3,926)
Excess of Preferred Unit redemption/repurchase cost over carrying value 0 0 0 (1,895)
Net income available for common unitholders 35,014 7,368 66,188 28,758
Earnings per Common Unit - basic:        
Income from continuing operations available for common unitholders (in dollars per share) $ 0.15 $ 0.04 $ 0.42 $ 0.28
Income from discontinued operations available for common unitholders (in dollars per share) $ 0.29 $ 0.06 $ 0.43 $ 0.10
Net income available for common unitholders (in dollars per share) $ 0.44 $ 0.10 $ 0.85 $ 0.38
Weighted average Common Units outstanding - basic (in shares) 79,949 [1],[2] 75,855 [1],[2] 78,032 [1],[2] 75,549 [1],[2]
Earnings per Common Unit - diluted:        
Income from continuing operations available for common unitholders (in dollars per share) 0.15 0.04 0.42 0.28
Income from discontinued operations available for common unitholders (in dollars per share) 0.29 0.06 0.43 0.10
Net income available for common unitholders (in dollars per share) 0.44 0.10 0.85 0.38
Weighted average Common Units outstanding - diluted (in shares) 80,086 [1] 75,993 [1] 78,159 [1] 75,718 [1]
Distributions declared per Common Unit (in dollars per unit) $ 0.425 $ 0.425 $ 1.275 $ 1.275
Net income available for common unitholders:        
Income from continuing operations available for common unitholders 11,531 3,081 32,671 20,837
Income from discontinued operations available for common unitholders 23,483 4,287 33,517 7,921
Net income available for common unitholders $ 35,014 $ 7,368 $ 66,188 $ 28,758
[1] There were 0.5 million and 0.4 million options outstanding during the three months ended September 30, 2012 and 2011, respectively, and 0.5 million and 0.3 million options outstanding during the nine months ended September 30, 2012 and 2011, respectively, that were not included in the computation of diluted earnings per share because the impact of including such options would be anti-dilutive.
[2] Includes all unvested restricted stock since dividends on restricted stock are non-forfeitable.