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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities:    
Net income $ 194,286 $ 272,627
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 189,423 180,914
Amortization of lease incentives and acquisition-related intangible assets and liabilities (1,770) (1,867)
Share-based compensation expense 6,751 4,980
Net credit losses/(reversals) on operating lease receivables (60) 4,387
Accrued interest on mortgages and notes receivable (79) (91)
Amortization of debt issuance costs 2,963 2,312
Amortization of cash flow hedges 377 125
Amortization of mortgages and notes payable fair value adjustments 882 1,270
Impairments of real estate assets 0 1,778
Losses on debt extinguishment 134 3,671
Net gains on disposition of property (80,371) (163,397)
Equity in earnings of unconsolidated affiliates (1,614) (2,965)
Distributions of earnings from unconsolidated affiliates 1,410 952
Changes in operating assets and liabilities:    
Accounts receivable 5,753 (206)
Prepaid expenses and other assets (1,210) (3,684)
Accrued straight-line rents receivable (13,734) (30,187)
Accounts payable, accrued expenses and other liabilities 6,077 4,840
Net cash provided by operating activities 309,218 275,459
Investing activities:    
Investments in acquired real estate and related intangible assets, net of cash acquired (270,160) (2,363)
Investments in development in-process (65,333) (116,839)
Investments in tenant improvements and deferred leasing costs (68,197) (106,843)
Investments in building improvements (34,452) (44,088)
Investment in acquired controlling interest in unconsolidated affiliate (127,339) 0
Net proceeds from disposition of real estate assets 187,964 356,644
Distributions of capital from unconsolidated affiliates 0 72
Investments in mortgages and notes receivable (56) (32)
Repayments of mortgages and notes receivable 229 234
Changes in other investing activities 4,119 (6,416)
Net cash provided by/(used in) investing activities (373,225) 80,369
Financing activities:    
Dividends on Common Stock (151,898) (149,462)
Redemptions/repurchases of Preferred Stock (5) (33)
Dividends on Preferred Stock (1,864) (1,866)
Distributions to noncontrolling interests in the Operating Partnership (4,144) (4,092)
Distributions to noncontrolling interests in consolidated affiliates (1,342) (1,124)
Proceeds from the issuance of Common Stock 15,453 3,163
Costs paid for the issuance of Common Stock (355) (215)
Repurchase of shares related to tax withholdings (1,693) (1,160)
Borrowings on revolving credit facility 310,000 129,000
Repayments of revolving credit facility (175,000) (350,000)
Borrowings on mortgages and notes payable 200,000 398,364
Repayments of mortgages and notes payable (264,212) (251,457)
Payments of debt extinguishment costs 0 (3,108)
Changes in debt issuance costs and other financing activities (9,279) (10,309)
Net cash used in financing activities (84,339) (242,299)
Net increase/(decrease) in cash and cash equivalents and restricted cash (148,346) 113,529
Cash and cash equivalents and restricted cash at beginning of the period 189,244 14,742
Cash and cash equivalents and restricted cash at end of the period 40,898 128,271
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents at end of the period 27,871 118,705
Restricted cash at end of the period 13,027 9,566
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 66,457 63,064
Supplemental disclosure of non-cash investing and financing activities:    
Unrealized losses on cash flow hedges (17) (1,231)
Conversions of Common Units to Common Stock 278 0
Changes in accrued capital expenditures [1] (20,150) 16,318
Write-off of fully depreciated real estate assets 52,158 31,526
Write-off of fully amortized leasing costs 37,045 15,184
Write-off of fully amortized debt issuance costs 4,158 1,438
Adjustment of noncontrolling interests in the Operating Partnership to fair value 11,072 (46,955)
Assumption of mortgages and notes payable related to acquisition activities 403,000 0
Issuances of Common Units to acquire real estate assets 0 6,163
Initial recognition of lease liabilities related to right of use assets 5,310 0
Future consideration in connection with the acquisition of land 16,000 0
Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities 45,800 84,300
Highwoods Realty Limited Partnership [Member]    
Operating activities:    
Net income 194,286 272,627
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 189,423 180,914
Amortization of lease incentives and acquisition-related intangible assets and liabilities (1,770) (1,867)
Share-based compensation expense 6,751 4,980
Net credit losses/(reversals) on operating lease receivables (60) 4,387
Accrued interest on mortgages and notes receivable (79) (91)
Amortization of debt issuance costs 2,963 2,312
Amortization of cash flow hedges 377 125
Amortization of mortgages and notes payable fair value adjustments 882 1,270
Impairments of real estate assets 0 1,778
Losses on debt extinguishment 134 3,671
Net gains on disposition of property (80,371) (163,397)
Equity in earnings of unconsolidated affiliates (1,614) (2,965)
Distributions of earnings from unconsolidated affiliates 1,410 952
Changes in operating assets and liabilities:    
Accounts receivable 5,753 (206)
Prepaid expenses and other assets (1,210) (3,684)
Accrued straight-line rents receivable (13,734) (30,187)
Accounts payable, accrued expenses and other liabilities 6,077 4,840
Net cash provided by operating activities 309,218 275,459
Investing activities:    
Investments in acquired real estate and related intangible assets, net of cash acquired (270,160) (2,363)
Investments in development in-process (65,333) (116,839)
Investments in tenant improvements and deferred leasing costs (68,197) (106,843)
Investments in building improvements (34,452) (44,088)
Investment in acquired controlling interest in unconsolidated affiliate (127,339) 0
Net proceeds from disposition of real estate assets 187,964 356,644
Distributions of capital from unconsolidated affiliates 0 72
Investments in mortgages and notes receivable (56) (32)
Repayments of mortgages and notes receivable 229 234
Changes in other investing activities 4,119 (6,416)
Net cash provided by/(used in) investing activities (373,225) 80,369
Financing activities:    
Distributions on Common Units (155,445) (152,965)
Redemptions/repurchases of Preferred Units (5) (33)
Distributions on Preferred Units (1,864) (1,866)
Distributions to noncontrolling interests in consolidated affiliates (1,342) (1,124)
Proceeds from the issuance of Common Units 15,453 3,163
Costs paid for the issuance of Common Units (355) (215)
Repurchase of units related to tax withholdings (1,693) (1,160)
Borrowings on revolving credit facility 310,000 129,000
Repayments of revolving credit facility (175,000) (350,000)
Borrowings on mortgages and notes payable 200,000 398,364
Repayments of mortgages and notes payable (264,212) (251,457)
Payments of debt extinguishment costs 0 (3,108)
Changes in debt issuance costs and other financing activities (9,876) (10,898)
Net cash used in financing activities (84,339) (242,299)
Net increase/(decrease) in cash and cash equivalents and restricted cash (148,346) 113,529
Cash and cash equivalents and restricted cash at beginning of the period 189,244 14,742
Cash and cash equivalents and restricted cash at end of the period 40,898 128,271
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents at end of the period 27,871 118,705
Restricted cash at end of the period 13,027 9,566
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 66,457 63,064
Supplemental disclosure of non-cash investing and financing activities:    
Unrealized losses on cash flow hedges (17) (1,231)
Changes in accrued capital expenditures [1] (20,150) 16,318
Write-off of fully depreciated real estate assets 52,158 31,526
Write-off of fully amortized leasing costs 37,045 15,184
Write-off of fully amortized debt issuance costs 4,158 1,438
Adjustment of Redeemable Common Units to fair value 11,734 (43,963)
Assumption of mortgages and notes payable related to acquisition activities 403,000 0
Issuances of Common Units to acquire real estate assets 0 6,163
Initial recognition of lease liabilities related to right of use assets 5,310 0
Future consideration in connection with the acquisition of land 16,000 0
Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities $ 45,800 $ 84,300
[1] Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities at September 30, 2021 and 2020 were $45.8 million and $84.3 million, respectively.