HIGHWOODS PROPERTIES, INC. HIW Income Statement

Highwoods properties, inc. (HIW)

Income statement / TTM

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
756,416	735,979	725,296	717,238	711,960	720,035	714,508	715,276	713,767	702,737	694,522	680,606	670,183	665,634	658,114	642,611	624,294	604,671	546,612	548,475	552,654	555,871	550,990	543,188	523,084	505,008	517,828	496,419	490,529	485,046	460,729	454,576	442,499	431,956	442,756	441,019	440,133	440,836	457,517	453,903	0	0	0
Operating expenses:
Rental property and other expenses
250,162	248,511	247,411	244,429	243,534	242,415	239,652	239,733	238,924	236,888	234,854	232,240	230,901	231,085	230,342	226,152	221,007	215,941	196,150	199,103	202,008	205,884	205,222	201,941	193,983	184,187	188,591	180,393	178,960	176,744	168,576	166,703	160,750	157,306	157,470	156,778	154,990	155,771	165,761	161,323	0	0	0
Depreciation, Depletion and Amortization, Nonproduction
246,450	254,504	247,546	244,357	241,591	229,955	230,821	230,133	229,255	227,832	227,340	223,290	222,791	220,140	217,894	215,934	208,545	201,918	179,500	176,824	179,339	180,637	181,782	180,833	171,014	162,937	161,392	151,095	149,462	146,357	139,223	137,233	130,926	127,499	131,351	130,483	131,059	130,232	132,539	130,870	0	0	0
Impairment of Long-Lived Assets Held-for-use
-	-	0	0	-	-	0	0	-	-	0	-	-	-	0	-	-	-	-	-	-	-	0	0	-	-	0	0	-	-	-	0	0	-	0	-	-	-	0	-	-	-	-
General and Administrative Expense
42,616	44,067	42,795	40,629	40,609	40,006	40,730	40,426	39,936	39,648	38,613	39,229	38,506	38,153	38,071	37,198	37,536	37,642	37,183	35,719	35,787	35,258	35,406	36,849	36,513	36,381	37,027	37,783	38,286	37,377	36,042	38,529	37,607	35,727	36,562	33,232	32,234	32,948	33,854	34,458	0	0	0
Total operating expenses
545,077	552,931	544,024	530,369	526,157	512,799	511,203	511,737	509,560	505,813	502,252	494,759	492,198	489,378	486,307	479,284	467,088	455,501	412,833	411,646	417,722	422,367	422,998	420,211	401,510	383,505	387,010	369,271	366,708	360,478	341,412	342,465	329,283	320,532	327,812	320,493	318,283	318,951	332,154	326,651	0	0	0
Interest expense:
Contractual
-	-	-	-	-	-	-	-	-	-	65,794	67,121	70,450	73,142	76,573	79,335	81,518	82,245	81,718	82,196	81,979	82,287	83,311	85,032	86,790	88,838	90,408	90,635	91,785	92,838	93,132	93,486	92,878	91,458	90,517	89,273	88,038	87,409	85,528	83,453	0	0	0
Amortization of debt issuance costs
-	-	-	-	-	-	-	-	-	-	3,306	3,354	3,356	3,506	3,789	3,818	3,835	3,645	3,313	3,259	3,230	3,082	3,212	3,356	3,505	3,802	3,836	3,780	3,732	3,685	3,573	3,472	3,393	3,312	3,305	3,357	3,371	3,385	3,155	2,986	0	0	0
Financing obligation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-242	-540	-1,081	-915	-754	35	-196	-212	-409	-255	151	373	740	1,465	1,724	1,972	2,157	2,036	2,286	0	0	0
Interest Expense
84,186	81,648	77,339	74,249	71,770	71,422	71,602	71,356	69,633	69,105	69,100	70,475	73,806	76,648	80,362	83,153	85,515	86,052	84,650	85,641	85,007	85,127	85,983	87,307	89,380	91,886	94,279	94,219	95,305	96,114	96,450	97,109	96,644	95,510	95,287	94,354	93,381	92,951	90,719	88,725	0	0	0
Other income:
Interest and other income
-	-	-	-	-	-	-	-	-	-	2,260	2,535	2,505	2,338	2,372	1,918	1,904	1,969	357	1,032	1,922	2,739	2,392	2,920	3,127	3,511	6,452	6,786	6,906	7,353	7,993	7,582	7,744	7,387	7,265	7,469	6,535	6,362	7,698	8,273	0	0	0
Gain (Loss) on Extinguishment of Debt
-	-	-	-	-	-	-	-	-	-	0	0	-	-	0	0	-	-	0	0	-	-	0	0	-	-199	-196	-164	-1,137	-973	-973	-997	0	-	0	0	-	-	0	0	-	0	0
Other income/(loss)
1,325	-2,510	-3,066	-2,422	-2,281	1,940	1,386	1,126	2,054	2,283	3,086	3,361	2,505	2,338	2,349	1,895	1,661	1,726	137	486	1,614	2,431	2,081	2,903	3,092	3,312	6,256	6,622	5,769	6,380	7,020	6,609	7,720	7,363	6,621	6,740	5,830	5,657	8,270	9,560	0	0	0
Income from continuing operations before disposition of investment properties and activity in unconsolidated affiliates
-	-	-	-	-	-	-	-	-	-	126,256	118,733	106,684	101,946	93,794	82,069	73,352	64,844	49,266	51,674	51,539	50,808	44,090	38,573	35,286	32,929	42,795	39,551	34,285	34,834	29,887	21,611	24,292	23,277	26,278	32,912	34,299	34,591	42,914	48,087	0	0	0
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property
192,584	39,517	10,221	23,678	0	-	0	0	-	54,157	25,828	9,881	15,742	14,807	15,023	18,133	14,684	11,444	12,748	41,974	45,509	44,352	42,219	5,944	0	-	0	0	-	-	0	0	-	-	0	0	-	74	89	264	0	0	0
Gain on disposition of investment in unconsolidated affiliate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	0	-	0	0
Gains on for-sale residential condominiums
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	444	261	-295	-289	-316	-453	77	124	276	594	829	0	0	0
Gain on acquisition of controlling interest in unconsolidated affiliate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Equity in earnings of unconsolidated affiliates
3,575	3,276	2,966	2,599	2,380	2,238	2,288	6,762	6,971	7,404	7,540	5,301	5,463	5,793	5,721	3,693	4,552	5,078	5,308	4,776	3,667	1,827	4,974	1,553	1,799	2,264	541	5,038	5,633	5,035	3,615	3,404	3,249	4,878	5,053	4,958	4,493	3,821	3,383	4,227	0	0	0
Income from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	122,546	114,538	108,050	96,743	85,521	71,477	98,424	100,715	96,987	91,249	53,558	44,533	42,641	50,973	44,821	40,297	40,313	34,065	27,566	30,298	30,885	33,641	38,185	64,301	64,092	72,310	78,737	0	0	0
Discontinued operations:
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax
-	-	-	-	-	-	-	-	-	-	-	-	-	4,097	6,986	11,251	15,921	15,739	0	0	0	-	-	-	-	26,858	13,884	14,774	14,929	14,467	20,385	19,695	18,284	16,942	10,306	8,864	8,623	8,297	1,630	2,561	0	0	0
Impairments of real estate assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,194	2,194	0	0	-	0	-	0	-	-	-	-	-	-	-	-	-	-
Net gains on disposition of discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	414,496	414,496	414,496	414,496	0	0	0	0	384	11,823	49,769	62,932	63,792	52,353	37,343	25,565	29,455	29,455	9,092	7,707	2,573	2,573	0	-260	-86	-463	20,480	0	0	0
Total income from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	418,593	421,482	425,747	430,417	15,739	31,451	27,186	22,516	18,985	32,828	72,288	86,380	88,456	64,043	49,923	39,366	43,922	47,411	26,358	23,562	17,086	12,879	8,864	8,363	8,211	1,167	23,041	0	0	0
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
324,637	141,683	134,714	140,166	151,770	177,630	181,328	205,868	192,424	191,663	159,624	133,915	127,889	541,139	536,020	533,797	527,160	101,260	102,928	125,610	123,231	115,972	124,077	125,846	130,913	131,097	115,016	94,744	79,663	84,235	81,476	53,924	53,860	47,971	46,520	47,049	72,664	72,303	73,477	101,778	0	0	0
Net (income) attributable to noncontrolling interests in the Operating Partnership
8,318	3,551	3,391	3,556	3,893	4,588	4,728	5,397	5,059	5,059	4,222	3,577	3,473	15,596	15,498	15,490	15,333	2,918	3,025	3,780	3,740	3,542	3,791	4,007	4,508	4,691	4,401	4,165	3,608	3,854	3,761	2,474	2,411	2,091	1,997	1,997	3,307	3,320	3,410	5,098	0	0	0
Net (income) attributable to noncontrolling interests in consolidated affiliates
1,183	1,214	1,208	1,235	1,237	1,207	1,243	1,234	1,225	1,239	1,226	1,230	1,245	1,253	1,257	1,262	1,276	1,264	1,262	1,229	1,339	1,466	1,508	1,420	1,169	949	813	769	805	786	767	857	816	755	758	361	394	485	305	569	0	0	0
Dividends on Preferred Stock
2,488	2,488	2,489	2,490	2,491	2,492	2,492	2,492	2,492	2,492	2,493	2,494	2,498	2,501	2,504	2,506	2,505	2,506	2,505	2,506	2,507	2,507	2,508	2,508	2,508	2,508	2,508	2,508	2,508	2,508	2,508	2,508	3,503	4,553	5,603	6,653	6,708	6,708	6,708	6,708	0	0	0
Excess of Preferred Stock redemption/repurchase cost over carrying value
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	0	0	-	-	-
Net Income (Loss) Available to Common Stockholders, Basic
312,648	134,430	127,626	132,885	144,149	169,343	172,865	196,745	183,648	182,873	151,683	126,614	120,673	521,789	516,761	514,539	508,046	94,572	96,136	118,095	115,645	108,457	116,270	117,911	122,728	122,949	107,294	87,302	72,742	77,087	74,440	48,085	45,235	38,677	36,267	36,143	62,255	61,790	63,054	89,403	0	0	0
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
-	-	-	-	-	-	-	-	-	-	-	-	-	115,461	107,630	101,271	90,249	79,308	65,659	91,755	93,834	90,069	84,738	48,320	39,648	37,890	45,744	39,665	35,228	35,252	29,311	23,028	22,842	22,443	24,034	27,726	54,314	53,994	61,948	67,698	0	0	0
Income from discontinued operations available for common stockholders
-	-	-	-	-	-	-	-	-	-	-	-	-	406,328	409,131	413,268	417,797	15,264	30,477	26,340	21,811	18,388	31,532	69,591	83,080	85,059	61,550	47,637	37,514	41,835	45,129	25,057	22,393	16,234	12,233	8,417	7,941	7,796	1,106	21,705	0	0	0
Net Income (Loss) Available to Common Stockholders, Basic
312,648	134,430	127,626	132,885	144,149	169,343	172,865	196,745	183,648	182,873	151,683	126,614	120,673	521,789	516,761	514,539	508,046	94,572	96,136	118,095	115,645	108,457	116,270	117,911	122,728	122,949	107,294	87,302	72,742	77,087	74,440	48,085	45,235	38,677	36,267	36,143	62,255	61,790	63,054	89,403	0	0	0
Highwoods Realty Limited Partnership [Member]
Revenues
756,416	735,979	725,296	717,238	711,960	720,035	714,508	715,276	713,767	702,737	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Rental property and other expenses
250,162	248,511	247,411	244,429	243,534	242,415	0	239,733	238,924	236,888	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation, Depletion and Amortization, Nonproduction
246,450	254,504	247,546	244,357	241,591	229,955	0	230,133	229,255	227,832	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of Long-Lived Assets Held-for-use
-	-	0	0	-	-	0	0	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
General and Administrative Expense
42,616	44,067	42,795	40,629	40,609	40,006	0	40,426	39,936	39,648	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating expenses
545,077	552,931	544,024	530,369	526,157	512,799	0	511,737	509,560	505,813	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contractual
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of debt issuance costs
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest Expense
84,186	81,648	77,339	74,249	71,770	71,422	0	71,356	69,633	69,105	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest and other income
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) on Extinguishment of Debt
-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other income/(loss)
1,325	-2,510	-3,066	-2,422	-2,281	1,940	0	1,126	2,054	2,283	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income from continuing operations before disposition of investment properties and activity in unconsolidated affiliates
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property
192,584	39,517	10,221	23,678	0	-	0	0	-	54,157	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity in earnings of unconsolidated affiliates
3,575	3,276	2,966	2,599	2,380	2,238	0	6,762	6,971	7,404	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
324,637	141,683	134,714	140,166	151,770	177,630	0	205,868	192,424	191,663	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (income) attributable to noncontrolling interests in consolidated affiliates
1,183	1,214	1,208	1,235	1,237	1,207	0	1,234	1,225	1,239	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions on Preferred Units
2,488	2,488	2,489	2,490	2,491	2,492	0	2,492	2,492	2,492	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income available for common unitholders
320,966	137,981	131,017	136,441	148,042	173,931	0	202,142	188,707	187,932	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
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
320,966	137,981	131,017	136,441	148,042	173,931	0	202,142	188,707	187,932	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-