HIGHWOODS PROPERTIES, INC. HIW Income Statement

Highwoods properties, inc. (HIW)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Revenues
192,800	192,071	187,475	184,070	172,363	181,388	179,417	178,792	180,438	175,861	180,185	177,283	169,408	167,646	166,269	166,860	164,859	160,126	150,766	148,543	145,236	102,067	152,629	152,722	148,453	97,186	144,827	132,618	130,377	110,006	123,418	126,728	124,894	85,689	117,265	114,651	114,351	96,489	115,528	113,765	115,054	113,170	111,914
Operating expenses:
Rental property and other expenses
62,202	63,267	64,135	60,558	60,551	62,167	61,153	59,663	59,432	59,404	61,234	58,854	57,396	57,370	58,620	57,515	57,580	56,627	54,430	52,370	52,514	36,836	57,383	55,275	56,390	36,174	54,102	47,317	46,594	40,578	45,904	45,884	44,378	32,410	44,031	39,931	40,934	32,574	43,339	38,143	41,715	42,564	38,901
Depreciation, Depletion and Amortization, Nonproduction
61,150	64,990	60,850	59,460	69,204	58,032	57,661	56,694	57,568	58,898	56,973	55,816	56,145	58,406	52,923	55,317	53,494	56,160	50,963	47,928	46,867	33,742	48,287	50,443	48,165	34,887	47,338	40,624	40,088	33,342	37,041	38,991	36,983	26,208	35,051	32,684	33,556	30,060	34,183	33,260	32,729	32,367	32,514
Impairment of Long-Lived Assets Held-for-use
-	-	5,318	531	-	-	0	0	-	-	1,445	-	-	-	0	-	-	-	-	-	-	-	0	588	-	-	0	0	-	-	-	0	0	-	2,429	-	-	-	0	-	-	-	-
General and Administrative Expense
10,930	10,409	11,717	9,560	12,381	9,137	9,551	9,540	11,778	9,861	9,247	9,050	11,490	8,826	9,863	8,327	11,137	8,744	8,990	8,665	11,243	8,285	7,526	8,733	10,714	8,433	8,969	8,397	10,582	9,079	9,725	8,900	9,673	7,744	12,212	7,978	7,793	8,579	8,882	6,980	8,507	9,485	9,486
Total operating expenses
134,282	138,666	142,020	130,109	142,136	129,759	128,365	125,897	128,778	128,163	128,899	123,720	125,031	124,602	121,406	121,159	122,211	121,531	114,383	108,963	110,624	78,863	113,196	115,039	115,269	79,494	110,409	96,338	97,264	82,999	92,670	93,775	91,034	63,933	93,723	80,593	82,283	71,213	86,404	78,383	82,951	84,416	80,901
Interest expense:
Contractual
-	-	-	-	-	-	-	-	-	-	16,395	15,345	17,023	17,031	17,722	18,674	19,715	20,462	20,484	20,857	20,442	19,935	20,962	20,640	20,750	20,959	22,683	22,398	22,798	22,529	22,910	23,548	23,851	22,823	23,264	22,940	22,431	21,882	22,020	21,705	21,802	20,001	19,945
Amortization of debt issuance costs
-	-	-	-	-	-	-	-	-	-	796	809	840	861	844	811	990	1,144	873	828	800	812	819	799	652	942	963	948	949	976	907	900	902	864	806	821	821	857	858	835	835	627	689
Financing obligation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	162	-	-543	567	-226	-40	-841	26	-60	121	-52	-205	-76	-76	102	201	146	291	827	460	394	476	706	710
Interest Expense
21,277	22,026	20,527	20,356	18,739	17,717	17,437	17,877	18,391	17,897	17,191	16,154	17,863	17,892	18,566	19,485	20,705	21,606	21,357	21,847	21,242	20,204	22,348	21,213	21,362	21,060	23,672	23,286	23,868	23,453	23,612	24,372	24,677	23,789	24,271	23,907	23,543	23,566	23,338	22,934	23,113	21,334	21,344
Other income:
Interest and other income
-	-	-	-	-	-	-	-	-	-	558	564	684	454	833	534	517	488	379	520	582	-1,124	1,054	1,410	1,399	-1,471	1,582	1,617	1,783	1,470	1,916	1,737	2,230	2,110	1,505	1,899	1,873	1,988	1,709	965	1,700	3,324	2,284
Gain (Loss) on Extinguishment of Debt
-	-	-	-	-	-	-	-	-	-	0	826	-	-	0	0	-	-	0	-220	-	-	-326	18	-	-3	-32	0	-164	0	0	-973	0	-	0	-24	-	-	-85	0	-	657	630
Other income/(loss)
69	761	174	321	-3,766	205	818	462	455	-349	558	1,390	684	454	833	534	517	465	379	300	582	-1,124	728	1,428	1,399	-1,474	1,550	1,617	1,619	1,470	1,916	764	2,230	2,110	1,505	1,875	1,873	1,368	1,624	965	1,700	3,981	2,914
Income from continuing operations before disposition of investment properties and activity in unconsolidated affiliates
-	-	-	-	-	-	-	-	-	-	34,653	38,799	27,198	25,606	27,130	26,750	22,460	17,454	15,405	18,033	13,952	1,876	17,813	17,898	13,221	-4,842	12,296	14,611	10,864	5,024	9,052	9,345	11,413	77	776	12,026	10,398	3,078	7,410	13,413	10,690	11,401	12,583
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property
153,067	29,299	3,515	6,703	0	-	3	16,972	-	28,976	19,849	0	5,332	647	3,902	5,861	4,397	863	7,012	2,412	1,157	2,167	36,238	5,947	0	-	34	-37	-	-	0	0	-	-	262	200	-	19	19	17	19	34	194
Gain on disposition of investment in unconsolidated affiliate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,155	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	2,282	-	-	-	0	25,330	-	0	0
Gains on for-sale residential condominiums
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	189	80	110	65	6	-476	116	38	-131	54	163	190	187	289
Gain on acquisition of controlling interest in unconsolidated affiliate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,451	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Equity in earnings of unconsolidated affiliates
963	907	940	765	664	597	573	546	522	647	5,047	755	955	783	2,808	917	1,285	711	780	1,776	1,811	941	248	667	-29	4,088	-3,173	913	436	2,365	1,324	1,508	-162	945	1,113	1,353	1,467	1,120	1,018	888	795	682	1,862
Income from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	27,036	33,840	33,528	28,142	19,028	27,352	22,221	16,920	4,984	54,299	24,512	13,192	-754	16,608	15,487	11,300	7,578	10,456	10,963	11,316	1,330	3,957	13,695	11,903	4,086	8,501	39,811	11,694	12,304	14,928
Discontinued operations:
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	4,097	2,889	4,265	4,670	3,915	-	-	-	-	21,005	1,514	1,995	2,344	8,031	2,404	2,150	1,882	13,949	1,714	739	540	7,313	272	498	214	646	1,203
Impairments of real estate assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	1,066	1,128	-	0	-	0	-	-	-	-	-	-	-	-	-	-
Net gains on disposition of discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	414,496	0	0	0	0	0	0	0	384	11,439	37,946	13,163	1,244	0	22,936	1,385	5,134	0	2,573	0	0	0	0	-260	174	-377	20,943
Total income from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	418,593	2,889	4,265	4,670	3,915	18,601	0	0	384	32,444	39,460	14,092	2,460	8,031	25,340	3,535	7,016	11,520	4,287	739	540	7,313	272	238	388	269	22,146
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
191,340	62,346	29,557	41,394	8,386	55,377	35,009	52,998	34,246	59,075	59,549	39,554	33,485	27,036	33,840	33,528	446,735	21,917	31,617	26,891	20,835	23,585	54,299	24,512	13,576	31,690	56,068	29,579	13,760	15,609	35,796	14,498	18,332	12,850	8,244	14,434	12,443	11,399	8,773	40,049	12,082	12,573	37,074
Net (income) attributable to noncontrolling interests in the Operating Partnership
4,960	1,577	737	1,044	193	1,417	902	1,381	888	1,557	1,571	1,043	888	720	926	939	13,011	622	918	782	596	729	1,673	742	398	978	1,889	1,243	581	688	1,653	686	827	595	366	623	507	501	366	1,933	520	591	2,054
Net (income) attributable to noncontrolling interests in consolidated affiliates
285	295	297	306	316	289	324	308	286	325	315	299	300	312	319	314	308	316	324	328	296	314	291	438	423	356	203	187	203	220	159	223	184	201	249	182	123	204	-148	215	214	24	116
Dividends on Preferred Stock
622	622	622	622	622	623	623	623	623	623	623	623	623	624	624	627	626	627	626	626	627	626	627	627	627	627	627	627	627	627	627	627	627	627	627	1,622	1,677	1,677	1,677	1,677	1,677	1,677	1,677
Excess of Preferred Stock redemption/repurchase cost over carrying value
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	1,895	-	-	0	0	-	-	-
Net Income (Loss) Available to Common Stockholders, Basic
185,473	59,852	27,901	39,422	7,255	53,048	33,160	50,686	32,449	56,570	57,040	37,589	31,674	25,380	31,971	31,648	432,790	20,352	29,749	25,155	19,316	21,916	51,708	22,705	12,128	29,729	53,349	27,522	12,349	14,074	33,357	12,962	16,694	11,427	7,002	10,112	10,136	9,017	6,878	36,224	9,671	10,281	33,227
Earnings per Common Share – basic:
Income from continuing operations available for common stockholders (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	0.26	0.32	0.32	0.27	0.18	0.27	0.22	0.17	0.05	0.57	0.25	0.13	-0.02	0.17	0.17	0.12	0.08	0.12	0.13	0.14	0.01	0.04	0.13	0.13	0.01	0.10	0.51	0.13	0.15	0.19
Income from discontinued operations available for common stockholders (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-0.09	0.00	0.00	4.22	0.03	0.04	0.05	0.04	0.20	0.00	0.00	0.00	0.37	0.44	0.16	0.03	0.10	0.32	0.04	0.09	0.15	0.06	0.01	0.01	0.10	0.00	0.00	0.01	0.00	0.31
Net income available for common stockholders (in dollars per share)
1.79	0.58	0.27	0.38	0.07	0.52	0.32	0.49	0.31	0.55	0.55	0.37	0.31	0.17	0.32	0.32	4.49	0.21	0.31	0.27	0.21	0.25	0.57	0.25	0.13	0.35	0.61	0.33	0.15	0.18	0.44	0.17	0.23	0.16	0.10	0.14	0.14	0.11	0.10	0.51	0.14	0.15	0.50
Weighted average Common Shares outstanding - basic (in shares)
103,813	103,748	103,727	103,693	103,600	103,533	103,471	103,428	103,324	103,278	103,237	102,475	101,738	100,762	98,973	97,648	96,373	95,646	94,693	94,055	93,222	92,084	90,668	90,254	89,966	90,033	87,467	82,811	81,029	79,156	76,590	74,662	72,836	72,604	72,492	72,211	71,817	71,666	71,631	71,601	71,414	70,902	66,122
Earnings per Common Share - diluted:
Income from continuing operations available for common stockholders (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	0.26	0.32	0.32	0.27	0.18	0.27	0.22	0.17	0.04	0.57	0.25	0.13	-0.02	0.17	0.17	0.12	0.08	0.12	0.13	0.14	0.01	0.04	0.13	0.13	0.02	0.10	0.50	0.13	0.14	0.19
Income from discontinued operations available for common stockholders (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-0.09	0.00	0.00	4.22	0.03	0.04	0.05	0.04	0.20	0.00	0.00	0.00	0.37	0.44	0.16	0.03	0.11	0.31	0.04	0.09	0.15	0.06	0.01	0.01	0.10	0.00	0.00	0.01	0.00	0.31
Net income available for common stockholders (in dollars per share)
1.79	0.58	0.27	0.38	0.07	0.52	0.32	0.49	0.31	0.55	0.55	0.37	0.31	0.17	0.32	0.32	4.49	0.21	0.31	0.27	0.21	0.24	0.57	0.25	0.13	0.35	0.61	0.33	0.15	0.19	0.43	0.17	0.23	0.16	0.10	0.14	0.14	0.12	0.10	0.50	0.14	0.14	0.50
Weighted average Common Shares outstanding - diluted (in shares)
106,633	106,507	106,471	106,445	106,357	106,307	106,333	106,267	106,165	106,184	106,145	105,386	104,661	103,668	101,939	100,628	99,357	98,635	97,661	97,049	96,279	95,135	93,723	93,312	93,030	93,082	90,769	86,631	84,862	83,000	80,495	78,521	76,696	76,365	76,402	76,197	75,792	75,670	75,638	75,607	75,397	75,072	70,234
Dividends declared per Common Share (in dollars per share)
-	-	-	-	-	-	-	-	-	-	0.44	0.44	0.44	-	0.42	0.42	0.42	-	0.42	0.42	0.42	-	0.42	0.42	0.42	-	0.42	0.42	0.42	-	0.42	0.42	0.42	-	0.42	0.42	0.42	-	0.42	0.42	-	0.42	0.42
Income from continuing operations available for common stockholders
-	-	-	-	-	-	-	-	-	-	-	-	-	25,380	31,971	31,648	26,462	17,549	25,612	20,626	15,521	3,900	51,708	22,705	11,756	-1,431	15,290	14,033	9,998	6,423	9,211	9,596	10,022	482	2,928	9,410	9,623	2,073	6,620	35,998	9,303	10,027	12,370
Income from discontinued operations available for common stockholders
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	406,328	2,803	4,137	4,529	3,795	18,016	0	0	372	31,160	38,059	13,489	2,351	7,651	24,146	3,366	6,672	10,945	4,074	702	513	6,944	258	226	368	254	20,857
Net Income (Loss) Available to Common Stockholders, Basic
185,473	59,852	27,901	39,422	7,255	53,048	33,160	50,686	32,449	56,570	57,040	37,589	31,674	25,380	31,971	31,648	432,790	20,352	29,749	25,155	19,316	21,916	51,708	22,705	12,128	29,729	53,349	27,522	12,349	14,074	33,357	12,962	16,694	11,427	7,002	10,112	10,136	9,017	6,878	36,224	9,671	10,281	33,227
Highwoods Realty Limited Partnership [Member]
Revenues
192,800	192,071	187,475	184,070	172,363	181,388	179,417	178,792	180,438	175,861	180,185	177,283	169,408	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Rental property and other expenses
62,202	63,267	64,135	60,558	60,551	62,167	61,153	59,663	59,432	59,404	61,234	58,854	57,396	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation, Depletion and Amortization, Nonproduction
61,150	64,990	60,850	59,460	69,204	58,032	57,661	56,694	57,568	58,898	56,973	55,816	56,145	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of Long-Lived Assets Held-for-use
-	-	5,318	531	-	-	0	0	-	-	1,445	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
General and Administrative Expense
10,930	10,409	11,717	9,560	12,381	9,137	9,551	9,540	11,778	9,861	9,247	9,050	11,490	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating expenses
134,282	138,666	142,020	130,109	142,136	129,759	128,365	125,897	128,778	128,163	128,899	123,720	125,031	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contractual
-	-	-	-	-	-	-	-	-	-	16,395	15,345	17,023	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of debt issuance costs
-	-	-	-	-	-	-	-	-	-	796	809	840	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest Expense
21,277	22,026	20,527	20,356	18,739	17,717	17,437	17,877	18,391	17,897	17,191	16,154	17,863	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest and other income
-	-	-	-	-	-	-	-	-	-	558	564	684	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) on Extinguishment of Debt
-	-	-	-	-	-	-	-	-	-	0	826	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other income/(loss)
69	761	174	321	-3,766	205	818	462	455	-349	558	1,390	684	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income from continuing operations before disposition of investment properties and activity in unconsolidated affiliates
-	-	-	-	-	-	-	-	-	-	34,653	38,799	27,198	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property
153,067	29,299	3,515	6,703	0	-	3	16,972	-	28,976	19,849	0	5,332	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity in earnings of unconsolidated affiliates
963	907	940	765	664	597	573	546	522	647	5,047	755	955	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
191,340	62,346	29,557	41,394	8,386	55,377	35,009	52,998	34,246	59,075	59,549	39,554	33,485	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (income) attributable to noncontrolling interests in consolidated affiliates
285	295	297	306	316	289	324	308	286	325	315	299	300	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions on Preferred Units
622	622	622	622	622	623	623	623	623	623	623	623	623	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income available for common unitholders
190,433	61,429	28,638	40,466	7,448	54,465	34,062	52,067	33,337	58,127	58,611	38,632	32,562	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income available for common unitholders (in dollars per share)
1.79	0.58	0.27	0.38	0.07	0.51	0.32	0.49	0.32	0.56	0.55	0.37	0.31	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Weighted average Common Units outstanding - basic (in shares)
106,199	106,065	106,046	106,017	105,928	105,882	105,866	105,826	105,730	105,697	105,660	104,900	104,167	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income available for common unitholders (in dollars per share)
1.79	0.58	0.27	0.38	0.07	0.51	0.32	0.49	0.32	0.56	0.55	0.37	0.31	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Weighted average Common Units outstanding - diluted (in shares)
106,224	106,098	106,062	106,036	105,948	105,898	105,924	105,858	105,756	105,775	105,736	104,977	104,252	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions declared per Common Unit (in dollars per unit)
-	-	-	-	-	-	-	-	-	-	0.44	0.44	0.44	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income Loss Available To Common Unitholders Basic
190,433	61,429	28,638	40,466	7,448	54,465	34,062	52,067	33,337	58,127	58,611	38,632	32,562	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-