HIGHWOODS PROPERTIES, INC., 10-Q filed on 10/27/2020
Quarterly Report
v3.20.2
Cover Page - shares
 9 Months Ended
Sep. 30, 2020
Oct. 20, 2020
Entity Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Sep. 30, 2020  
Document Transition Report false  
Entity Registrant Name HIGHWOODS PROPERTIES, INC.  
Entity Incorporation, State or Country Code MD  
Entity File Number 001-13100  
Entity Tax Identification Number 56-1871668  
Entity Address, Address Line One 3100 Smoketree Court  
Entity Address, Address Line Two Suite 600  
Entity Address, City or Town Raleigh  
Entity Address, State or Province NC  
Entity Address, Postal Zip Code 27604  
City Area Code 919  
Local Phone Number 872-4924  
Title of 12(b) Security Common Stock, $.01 par value, of Highwoods Properties, Inc.  
Trading Symbol HIW  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   103,908,229
Entity Central Index Key 0000921082  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2020  
Document Fiscal Period Focus Q3  
Amendment Flag false  
Highwoods Realty Limited Partnership [Member]    
Entity Information [Line Items]    
Entity Registrant Name HIGHWOODS REALTY LIMITED PARTNERSHIP  
Entity Incorporation, State or Country Code NC  
Entity File Number 000-21731  
Entity Tax Identification Number 56-1869557  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Non-accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Central Index Key 0000941713  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2020  
Document Fiscal Period Focus Q3  
Amendment Flag false  
v3.20.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
Real estate assets, at cost:    
Land $ 465,160 $ 515,095
Buildings and tenant improvements 4,948,794 5,128,150
Development in-process 258,219 172,706
Land held for development 131,489 99,163
Total real estate assets 5,803,662 5,915,114
Less-accumulated depreciation (1,387,723) (1,388,566)
Net real estate assets 4,415,939 4,526,548
Real estate and other assets, net, held for sale 72,729 20,790
Cash and cash equivalents 118,705 9,505
Restricted cash 9,566 5,237
Accounts receivable 25,989 23,370
Mortgages and notes receivable 1,390 1,501
Accrued straight-line rents receivable 253,682 234,652
Investments in and advances to unconsolidated affiliates 26,639 26,298
Deferred leasing costs, net of accumulated amortization of $153,045 and $146,125, respectively 216,329 231,347
Prepaid expenses and other assets, net of accumulated depreciation of $20,557 and $20,017, respectively 63,671 58,996
Total Assets 5,204,639 5,138,244
Liabilities, Noncontrolling Interests in the Operating Partnership and Equity/Liabilities, Redeemable Operating Partnership Units and Capital:    
Mortgages and notes payable, net 2,469,554 2,543,710
Accounts payable, accrued expenses and other liabilities 299,587 286,911
Total Liabilities 2,769,141 2,830,621
Commitments and contingencies
Noncontrolling interests in the Operating Partnership 95,416 133,216
Equity/Capital:    
Preferred Stock, $.01 par value, 50,000,000 authorized shares; 8.625% Series A Cumulative Redeemable Preferred Shares (liquidation preference $1,000 per share), 28,826 and 28,859 shares issued and outstanding, respectively 28,826 28,859
Common Stock, $.01 par value, 200,000,000 authorized shares; 103,908,229 and 103,756,046 shares issued and outstanding, respectively 1,039 1,038
Additional paid-in capital 3,008,501 2,954,779
Distributions in excess of net income available for common stockholders (718,465) (831,808)
Accumulated other comprehensive loss (1,577) (471)
Total Stockholders’ Equity 2,318,324 2,152,397
Noncontrolling interests in consolidated affiliates 21,758 22,010
Total Equity/Capital 2,340,082 2,174,407
Total Liabilities, Noncontrolling Interests in the Operating Partnership and Equity/Total Liabilities, Redeemable Operating Partnership Units and Capital 5,204,639 5,138,244
Highwoods Realty Limited Partnership [Member]    
Real estate assets, at cost:    
Land 465,160 515,095
Buildings and tenant improvements 4,948,794 5,128,150
Development in-process 258,219 172,706
Land held for development 131,489 99,163
Total real estate assets 5,803,662 5,915,114
Less-accumulated depreciation (1,387,723) (1,388,566)
Net real estate assets 4,415,939 4,526,548
Real estate and other assets, net, held for sale 72,729 20,790
Cash and cash equivalents 118,705 9,505
Restricted cash 9,566 5,237
Accounts receivable 25,989 23,370
Mortgages and notes receivable 1,390 1,501
Accrued straight-line rents receivable 253,682 234,652
Investments in and advances to unconsolidated affiliates 26,639 26,298
Deferred leasing costs, net of accumulated amortization of $153,045 and $146,125, respectively 216,329 231,347
Prepaid expenses and other assets, net of accumulated depreciation of $20,557 and $20,017, respectively 63,671 58,996
Total Assets 5,204,639 5,138,244
Liabilities, Noncontrolling Interests in the Operating Partnership and Equity/Liabilities, Redeemable Operating Partnership Units and Capital:    
Mortgages and notes payable, net 2,469,554 2,543,710
Accounts payable, accrued expenses and other liabilities 299,587 286,911
Total Liabilities 2,769,141 2,830,621
Commitments and contingencies
Redeemable Operating Partnership Units:    
Common Units, 2,842,295 and 2,723,703 outstanding, respectively 95,416 133,216
Series A Preferred Units (liquidation preference $1,000 per unit), 28,826 and 28,859 units issued and outstanding, respectively 28,826 28,859
Total Redeemable Operating Partnership Units 124,242 162,075
Equity/Capital:    
General partner Common Units, 1,063,417 and 1,060,709 outstanding, respectively 22,910 21,240
Limited partner Common Units, 102,436,003 and 102,286,528 outstanding, respectively 2,268,165 2,102,769
Accumulated other comprehensive loss (1,577) (471)
Noncontrolling interests in consolidated affiliates 21,758 22,010
Total Equity/Capital 2,311,256 2,145,548
Total Liabilities, Noncontrolling Interests in the Operating Partnership and Equity/Total Liabilities, Redeemable Operating Partnership Units and Capital $ 5,204,639 $ 5,138,244
Series A Preferred Units, outstanding (in shares) 28,826 28,859
v3.20.2
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2020
Dec. 31, 2019
Assets:    
Deferred leasing costs, accumulated amortization $ 153,045 $ 146,125
Prepaid Expenses And Other Assets Accumulated Depreciation $ 20,557 $ 20,017
Equity/Capital:    
Series A Preferred Stock, par value (in dollars per share) $ 0.01  
Series A Preferred Stock, authorized shares (in shares) 50,000,000  
Series A Preferred Stock, dividend rate percentage (in hundredths) 8.625%  
Series A Preferred Stock, liquidation preference (in dollars per share) $ 1,000  
Series A Preferred Stock, shares issued (in shares) 28,826 28,859
Series A Preferred Stock, shares outstanding (in shares) 28,826 28,859
Common Stock, par value (in dollars per share) $ 0.01  
Common Stock, authorized shares (in shares) 200,000,000  
Common Stock, shares issued (in shares) 103,908,229 103,756,046
Common Stock, shares outstanding (in shares) 103,908,229 103,756,046
Highwoods Realty Limited Partnership [Member]    
Assets:    
Deferred leasing costs, accumulated amortization $ 153,045 $ 146,125
Prepaid Expenses And Other Assets Accumulated Depreciation $ 20,557 $ 20,017
Redeemable Operating Partnership Units: [Abstract]    
Redeemable Common Units outstanding (in shares) 2,842,295 2,723,703
Series A Preferred Units, liquidation preference (in dollars per share) $ 1,000  
Series A Preferred Units, issued (in shares) 28,826 28,859
Series A Preferred Units, outstanding (in shares) 28,826 28,859
Common Units: [Abstract]    
General partners' capital account, units outstanding (in shares) 1,063,417 1,060,709
Limited partners' capital account, units outstanding (in shares) 102,436,003 102,286,528
v3.20.2
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Rental and other revenues $ 181,043 $ 187,475 $ 556,996 $ 543,908
Operating expenses:        
Rental property and other expenses 56,892 64,135 174,213 185,244
Depreciation and amortization 60,303 60,850 180,914 189,514
Impairments of real estate assets 0 5,318 1,778 5,849
General and administrative 9,155 11,717 30,169 33,658
Total operating expenses 126,350 142,020 387,074 414,265
Interest expense 19,886 20,527 61,003 59,622
Other income/(loss) (3,311) 174 (2,654) (3,271)
Gains on disposition of property 10,012 3,515 163,397 10,218
Equity in earnings of unconsolidated affiliates 823 940 2,965 2,369
Net income 42,331 29,557 272,627 79,337
Net (income) attributable to noncontrolling interests in the Operating Partnership (1,107) (737) (7,084) (1,974)
Net (income) attributable to noncontrolling interests in consolidated affiliates (298) (297) (872) (919)
Dividends on Preferred Stock (622) (622) (1,866) (1,866)
Net income available for common stockholders $ 40,304 $ 27,901 $ 262,805 $ 74,578
Earnings per Common Share – basic:        
Net income available for common stockholders (in dollars per share) $ 0.39 $ 0.27 $ 2.53 $ 0.72
Weighted average Common Shares outstanding - basic (in shares) 103,896 103,727 103,865 103,674
Earnings per Common Share - diluted:        
Net income available for common stockholders (in dollars per share) $ 0.39 $ 0.27 $ 2.53 $ 0.72
Weighted average Common Shares outstanding - diluted (in shares) 106,740 106,471 106,702 106,425
Highwoods Realty Limited Partnership [Member]        
Rental and other revenues $ 181,043 $ 187,475 $ 556,996 $ 543,908
Operating expenses:        
Rental property and other expenses 56,892 64,135 174,213 185,244
Depreciation and amortization 60,303 60,850 180,914 189,514
Impairments of real estate assets 0 5,318 1,778 5,849
General and administrative 9,155 11,717 30,169 33,658
Total operating expenses 126,350 142,020 387,074 414,265
Interest expense 19,886 20,527 61,003 59,622
Other income/(loss) (3,311) 174 (2,654) (3,271)
Gains on disposition of property 10,012 3,515 163,397 10,218
Equity in earnings of unconsolidated affiliates 823 940 2,965 2,369
Net income 42,331 29,557 272,627 79,337
Net (income) attributable to noncontrolling interests in consolidated affiliates (298) (297) (872) (919)
Distributions on Preferred Units (622) (622) (1,866) (1,866)
Net income available for common unitholders $ 41,411 $ 28,638 $ 269,889 $ 76,552
Earnings per Common Unit - basic:        
Net income available for common unitholders (in dollars per share) $ 0.39 $ 0.27 $ 2.54 $ 0.72
Weighted average Common Units outstanding - basic (in shares) 106,329 106,046 106,283 105,998
Earnings per Common Unit - diluted:        
Net income available for common unitholders (in dollars per share) $ 0.39 $ 0.27 $ 2.54 $ 0.72
Weighted average Common Units outstanding - diluted (in shares) 106,331 106,062 106,293 106,016
v3.20.2
Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Comprehensive income:        
Net income $ 42,331 $ 29,557 $ 272,627 $ 79,337
Other comprehensive income/(loss):        
Unrealized gains/(losses) on cash flow hedges 5 (6,732) (1,231) (9,282)
Amortization of cash flow hedges 122 (283) 125 (1,158)
Total other comprehensive income/(loss) 127 (7,015) (1,106) (10,440)
Total comprehensive income 42,458 22,542 271,521 68,897
Less-comprehensive (income) attributable to noncontrolling interests (1,405) (1,034) (7,956) (2,893)
Comprehensive income attributable to common stockholders/Comprehensive income attributable to common unitholders 41,053 21,508 263,565 66,004
Highwoods Realty Limited Partnership [Member]        
Comprehensive income:        
Net income 42,331 29,557 272,627 79,337
Other comprehensive income/(loss):        
Unrealized gains/(losses) on cash flow hedges 5 (6,732) (1,231) (9,282)
Amortization of cash flow hedges 122 (283) 125 (1,158)
Total other comprehensive income/(loss) 127 (7,015) (1,106) (10,440)
Total comprehensive income 42,458 22,542 271,521 68,897
Less-comprehensive (income) attributable to noncontrolling interests (298) (297) (872) (919)
Comprehensive income attributable to common stockholders/Comprehensive income attributable to common unitholders $ 42,160 $ 22,245 $ 270,649 $ 67,978
v3.20.2
Consolidated Statements of Equity/Capital - USD ($)
$ in Thousands
Total
Highwoods Realty Limited Partnership [Member]
Common Stock [Member]
Series A Cumulative Redeemable Preferred Shares [Member]
General Partners' Common Units [Member]
Highwoods Realty Limited Partnership [Member]
Limited Partners' Common Units [Member]
Highwoods Realty Limited Partnership [Member]
Additional Paid-in Capital [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Highwoods Realty Limited Partnership [Member]
Noncontrolling Interests in Consolidated Affiliates [Member]
Noncontrolling Interests in Consolidated Affiliates [Member]
Highwoods Realty Limited Partnership [Member]
Distributions in Excess of Net Income Available for Common Stockholders [Member]
Balance (in shares) at Dec. 31, 2018     103,557,065                  
Balance at Dec. 31, 2018 $ 2,264,296 $ 2,235,419 $ 1,036 $ 28,877 $ 22,078 $ 2,185,852 $ 2,976,197 $ 9,913 $ 9,913 $ 17,576 $ 17,576 $ (769,303)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Issuances of Common Units, net of issuance costs and tax withholdings   (243)     (2) (241)            
Distributions on Common Units   (150,973)     (1,510) (149,463)            
Distributions on Preferred Units   (1,866)     (19) (1,847)            
Issuances of Common Stock, net of issuance costs and tax withholdings - Shares     (11,715)                  
Issuances of Common Stock, net of issuance costs and tax withholdings (243)   $ 0       (243)          
Conversions of Common Units to Common Stock - Shares     13,000                  
Conversions of Common Units to Common Stock 572           572          
Dividends on Common Stock (147,662)                     (147,662)
Dividends on Preferred Stock (1,866)                     (1,866)
Adjustment of noncontrolling interests in the Operating Partnership to fair value (19,025)           (19,025)          
Distributions to noncontrolling interests in consolidated affiliates (1,227) (1,227)               (1,227) (1,227)  
Contributions from noncontrolling interests in consolidate affiliates 4,987 4,987               4,987 4,987  
Issuances of restricted stock - shares     190,934                  
Issuances of restricted stock 0                      
Redemptions/repurchases of Preferred Stock (18)     (18)                
Share-based compensation expense, net of forfeitures - shares     (947)                  
Share-based compensation expense, net of forfeitures 6,180 6,180 $ 1   62 6,118 6,179          
Adjustment of Redeemable Common Units to fair value and contributions/distributions from/to the General Partner   (17,116)     (172) (16,944)            
Net (income) attributable to noncontrolling interests in the Operating Partnership (1,974)                     (1,974)
Net (income) attributable to noncontrolling interests in consolidated affiliates 0 0     (9) (910)       919 919 (919)
Comprehensive income:                        
Net income 79,337 79,337     793 78,544           79,337
Other comprehensive income/(loss) (10,440) (10,440)           (10,440) (10,440)      
Total comprehensive income 68,897 68,897                    
Balance (in shares) at Sep. 30, 2019     103,748,337                  
Balance at Sep. 30, 2019 2,172,917 2,144,058 $ 1,037 28,859 21,221 2,101,109 2,963,680 (527) (527) 22,255 22,255 (842,387)
Balance (in shares) at Jun. 30, 2019     103,704,603                  
Balance at Jun. 30, 2019 2,210,532 2,181,673 $ 1,037 28,859 21,528 2,131,256 2,972,798 6,488 6,488 22,401 22,401 (821,051)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Issuances of Common Units, net of issuance costs and tax withholdings   488     5 483            
Distributions on Common Units   (50,339)     (504) (49,835)            
Distributions on Preferred Units   (622)     (7) (615)            
Issuances of Common Stock, net of issuance costs and tax withholdings - Shares     11,990                  
Issuances of Common Stock, net of issuance costs and tax withholdings 488   $ 0       488          
Conversions of Common Units to Common Stock - Shares     5,000                  
Conversions of Common Units to Common Stock 219           219          
Dividends on Common Stock (49,237)                     (49,237)
Dividends on Preferred Stock (622)                     (622)
Adjustment of noncontrolling interests in the Operating Partnership to fair value (10,493)           (10,493)          
Distributions to noncontrolling interests in consolidated affiliates (443) (443)               (443) (443)  
Issuances of restricted stock - shares     26,744                  
Issuances of restricted stock 0                      
Share-based compensation expense, net of forfeitures - shares     0                  
Share-based compensation expense, net of forfeitures 668 668 $ 0   7 661 668          
Adjustment of Redeemable Common Units to fair value and contributions/distributions from/to the General Partner   (9,909)     (100) (9,809)            
Net (income) attributable to noncontrolling interests in the Operating Partnership (737)                     (737)
Net (income) attributable to noncontrolling interests in consolidated affiliates 0 0     (3) (294)       297 297 (297)
Comprehensive income:                        
Net income 29,557 29,557     295 29,262           29,557
Other comprehensive income/(loss) (7,015) (7,015)           (7,015) (7,015)      
Total comprehensive income 22,542 22,542                    
Balance (in shares) at Sep. 30, 2019     103,748,337                  
Balance at Sep. 30, 2019 $ 2,172,917 2,144,058 $ 1,037 28,859 21,221 2,101,109 2,963,680 (527) (527) 22,255 22,255 (842,387)
Balance (in shares) at Dec. 31, 2019 103,756,046   103,756,046                  
Balance at Dec. 31, 2019 $ 2,174,407 2,145,548 $ 1,038 28,859 21,240 2,102,769 2,954,779 (471) (471) 22,010 22,010 (831,808)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Issuances of Common Units, net of issuance costs and tax withholdings   7,951     80 7,871            
Distributions on Common Units   (152,965)     (1,530) (151,435)            
Distributions on Preferred Units   (1,866)     (19) (1,847)            
Issuances of Common Stock, net of issuance costs and tax withholdings - Shares     9,045                  
Issuances of Common Stock, net of issuance costs and tax withholdings 1,788   $ 0       1,788          
Conversions of Common Units to Common Stock 0                      
Dividends on Common Stock (149,462)                     (149,462)
Dividends on Preferred Stock (1,866)                     (1,866)
Adjustment of noncontrolling interests in the Operating Partnership to fair value 46,955           46,955          
Distributions to noncontrolling interests in consolidated affiliates (1,124) (1,124)               (1,124) (1,124)  
Issuances of restricted stock - shares     149,304                  
Issuances of restricted stock 0                      
Redemptions/repurchases of Preferred Stock (33)     (33)                
Share-based compensation expense, net of forfeitures - shares     (6,166)                  
Share-based compensation expense, net of forfeitures 4,980 4,980 $ 1   50 4,930 4,979          
Adjustment of Redeemable Common Units to fair value and contributions/distributions from/to the General Partner   37,211     372 36,839            
Net (income) attributable to noncontrolling interests in the Operating Partnership (7,084)                     (7,084)
Net (income) attributable to noncontrolling interests in consolidated affiliates 0 0     (9) (863)       872 872 (872)
Comprehensive income:                        
Net income 272,627 272,627     2,726 269,901           272,627
Other comprehensive income/(loss) (1,106) (1,106)           (1,106) (1,106)      
Total comprehensive income $ 271,521 271,521                    
Balance (in shares) at Sep. 30, 2020 103,908,229   103,908,229                  
Balance at Sep. 30, 2020 $ 2,340,082 2,311,256 $ 1,039 28,826 22,910 2,268,165 3,008,501 (1,577) (1,577) 21,758 21,758 (718,465)
Balance (in shares) at Jun. 30, 2020     103,896,936                  
Balance at Jun. 30, 2020 2,337,472 2,308,629 $ 1,039 28,843 22,886 2,265,692 2,996,442 (1,704) (1,704) 21,755 21,755 (708,903)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Issuances of Common Units, net of issuance costs and tax withholdings   387     4 383            
Distributions on Common Units   (51,034)     (511) (50,523)            
Distributions on Preferred Units   (622)     (7) (615)            
Issuances of Common Stock, net of issuance costs and tax withholdings - Shares     11,293                  
Issuances of Common Stock, net of issuance costs and tax withholdings 387   $ 0       387          
Dividends on Common Stock (49,866)                     (49,866)
Dividends on Preferred Stock (622)                     (622)
Adjustment of noncontrolling interests in the Operating Partnership to fair value 10,430           10,430          
Distributions to noncontrolling interests in consolidated affiliates (295) (295)               (295) (295)  
Redemptions/repurchases of Preferred Stock (17)     (17)                
Share-based compensation expense, net of forfeitures - shares     0                  
Share-based compensation expense, net of forfeitures 1,242 1,242 $ 0   13 1,229 1,242          
Adjustment of Redeemable Common Units to fair value and contributions/distributions from/to the General Partner   10,491     105 10,386            
Net (income) attributable to noncontrolling interests in the Operating Partnership (1,107)                     (1,107)
Net (income) attributable to noncontrolling interests in consolidated affiliates 0 0     (3) (295)       298 298 (298)
Comprehensive income:                        
Net income 42,331 42,331     423 41,908           42,331
Other comprehensive income/(loss) 127 127           127 127      
Total comprehensive income $ 42,458 42,458                    
Balance (in shares) at Sep. 30, 2020 103,908,229   103,908,229                  
Balance at Sep. 30, 2020 $ 2,340,082 $ 2,311,256 $ 1,039 $ 28,826 $ 22,910 $ 2,268,165 $ 3,008,501 $ (1,577) $ (1,577) $ 21,758 $ 21,758 $ (718,465)
v3.20.2
Consolidated Statements of Equity/Capital (Parentheticals) - $ / shares
 3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Highwoods Properties, Inc. [Member]        
Dividends on Common Stock (per share) $ 0.48 $ 0.475 $ 1.44 $ 1.425
Highwoods Properties, Inc. [Member] | Series A Cumulative Redeemable Preferred Shares [Member]        
Dividends on Preferred Stock (per share)/Distributions on Preferred Units (per unit) 21.5625 21.5625 64.6875 64.6875
Highwoods Realty Limited Partnership [Member]        
Distributions on Common Units (per unit) 0.48 0.475 1.44 1.425
Highwoods Realty Limited Partnership [Member] | Series A Cumulative Redeemable Preferred Shares [Member]        
Dividends on Preferred Stock (per share)/Distributions on Preferred Units (per unit) $ 21.5625 $ 21.5625 $ 64.6875 $ 64.6875
v3.20.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities:    
Net income $ 272,627 $ 79,337
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 180,914 189,514
Amortization of lease incentives and acquisition-related intangible assets and liabilities (1,867) 197
Share-based compensation expense 4,980 6,180
Credit losses on operating lease receivables 4,387 8,711
Write-off of mortgages and notes receivable 0 4,087
Accrued interest on mortgages and notes receivable (91) (151)
Amortization of debt issuance costs 2,312 2,194
Amortization of cash flow hedges 125 (1,158)
Amortization of mortgages and notes payable fair value adjustments 1,270 1,193
Impairments of real estate assets 1,778 5,849
Losses on debt extinguishment 3,671 640
Net gains on disposition of property (163,397) (10,218)
Equity in earnings of unconsolidated affiliates (2,965) (2,369)
Distributions of earnings from unconsolidated affiliates 952 730
Settlement of cash flow hedges 0 (11,749)
Changes in operating assets and liabilities:    
Accounts receivable (206) (3,611)
Prepaid expenses and other assets (3,684) 458
Accrued straight-line rents receivable (30,187) (20,955)
Accounts payable, accrued expenses and other liabilities 4,840 37,382
Net cash provided by operating activities 275,459 286,261
Investing activities:    
Investments in acquired real estate and related intangible assets, net of cash acquired (2,363) (19,365)
Investments in development in-process (116,839) (77,854)
Investments in tenant improvements and deferred leasing costs (106,843) (105,879)
Investments in building improvements (44,088) (36,383)
Net proceeds from disposition of real estate assets 356,644 45,250
Distributions of capital from unconsolidated affiliates 72 29
Investments in mortgages and notes receivable (32) 0
Repayments of mortgages and notes receivable 234 221
Payments of earnest money deposits 0 (50,000)
Changes in other investing activities (6,416) (6,279)
Net cash provided by/(used in) investing activities 80,369 (250,260)
Financing activities:    
Dividends on Common Stock (149,462) (147,662)
Redemptions/repurchases of Preferred Stock (33) (18)
Dividends on Preferred Stock (1,866) (1,866)
Distributions to noncontrolling interests in the Operating Partnership (4,092) (3,894)
Distributions to noncontrolling interests in consolidated affiliates (1,124) (1,227)
Proceeds from the issuance of Common Stock 3,163 1,541
Costs paid for the issuance of Common Stock (215) 0
Repurchase of shares related to tax withholdings (1,160) (1,784)
Borrowings on revolving credit facility 129,000 278,600
Repayments of revolving credit facility (350,000) (460,600)
Borrowings on mortgages and notes payable 398,364 747,990
Repayments of mortgages and notes payable (251,457) (326,400)
Payments of debt extinguishment costs (3,108) 0
Changes in debt issuance costs and other financing activities (10,309) (7,800)
Net cash provided by/(used in) financing activities (242,299) 76,880
Net increase in cash and cash equivalents and restricted cash 113,529 112,881
Cash and cash equivalents and restricted cash at beginning of the period 14,742 10,143
Cash and cash equivalents and restricted cash at end of the period 128,271 123,024
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents at end of the period 118,705 116,724
Restricted cash at end of the period 9,566 6,300
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 63,064 55,608
Supplemental disclosure of non-cash investing and financing activities:    
Unrealized losses on cash flow hedges (1,231) (9,282)
Conversions of Common Units to Common Stock 0 572
Changes in accrued capital expenditures (1) [1] 16,318 (7,407)
Write-off of fully depreciated real estate assets 31,526 59,428
Write-off of fully amortized leasing costs 15,184 34,203
Write-off of fully amortized debt issuance costs 1,438 1,791
Adjustment of noncontrolling interests in the Operating Partnership to fair value (46,955) 19,025
Contributions from noncontrolling interests in consolidated affiliates 0 4,987
Issuances of Common Units to acquire real estate assets 6,163 0
Initial recognition of lease liabilities related to right of use assets 0 35,349
Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities 84,300 54,900
Highwoods Realty Limited Partnership [Member]    
Operating activities:    
Net income 272,627 79,337
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 180,914 189,514
Amortization of lease incentives and acquisition-related intangible assets and liabilities (1,867) 197
Share-based compensation expense 4,980 6,180
Credit losses on operating lease receivables 4,387 8,711
Write-off of mortgages and notes receivable 0 4,087
Accrued interest on mortgages and notes receivable (91) (151)
Amortization of debt issuance costs 2,312 2,194
Amortization of cash flow hedges 125 (1,158)
Amortization of mortgages and notes payable fair value adjustments 1,270 1,193
Impairments of real estate assets 1,778 5,849
Losses on debt extinguishment 3,671 640
Net gains on disposition of property (163,397) (10,218)
Equity in earnings of unconsolidated affiliates (2,965) (2,369)
Distributions of earnings from unconsolidated affiliates 952 730
Settlement of cash flow hedges 0 (11,749)
Changes in operating assets and liabilities:    
Accounts receivable (206) (3,611)
Prepaid expenses and other assets (3,684) 458
Accrued straight-line rents receivable (30,187) (20,955)
Accounts payable, accrued expenses and other liabilities 4,840 37,382
Net cash provided by operating activities 275,459 286,261
Investing activities:    
Investments in acquired real estate and related intangible assets, net of cash acquired (2,363) (19,365)
Investments in development in-process (116,839) (77,854)
Investments in tenant improvements and deferred leasing costs (106,843) (105,879)
Investments in building improvements (44,088) (36,383)
Net proceeds from disposition of real estate assets 356,644 45,250
Distributions of capital from unconsolidated affiliates 72 29
Investments in mortgages and notes receivable (32) 0
Repayments of mortgages and notes receivable 234 221
Payments of earnest money deposits 0 (50,000)
Changes in other investing activities (6,416) (6,279)
Net cash provided by/(used in) investing activities 80,369 (250,260)
Financing activities:    
Distributions on Common Units (152,965) (150,973)
Redemptions/repurchases of Preferred Units (33) (18)
Distributions on Preferred Units (1,866) (1,866)
Distributions to noncontrolling interests in consolidated affiliates (1,124) (1,227)
Proceeds from the issuance of Common Units 3,163 1,541
Costs paid for the issuance of Common Units (215) 0
Repurchase of units related to tax withholdings (1,160) (1,784)
Borrowings on revolving credit facility 129,000 278,600
Repayments of revolving credit facility (350,000) (460,600)
Borrowings on mortgages and notes payable 398,364 747,990
Repayments of mortgages and notes payable (251,457) (326,400)
Payments of debt extinguishment costs (3,108) 0
Changes in debt issuance costs and other financing activities (10,898) (8,383)
Net cash provided by/(used in) financing activities (242,299) 76,880
Net increase in cash and cash equivalents and restricted cash 113,529 112,881
Cash and cash equivalents and restricted cash at beginning of the period 14,742 10,143
Cash and cash equivalents and restricted cash at end of the period 128,271 123,024
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents at end of the period 118,705 116,724
Restricted cash at end of the period 9,566 6,300
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 63,064 55,608
Supplemental disclosure of non-cash investing and financing activities:    
Unrealized losses on cash flow hedges (1,231) (9,282)
Changes in accrued capital expenditures (1) [1] 16,318 (7,407)
Write-off of fully depreciated real estate assets 31,526 59,428
Write-off of fully amortized leasing costs 15,184 34,203
Write-off of fully amortized debt issuance costs 1,438 1,791
Adjustment of Redeemable Common Units to fair value (43,963) 16,533
Contributions from noncontrolling interests in consolidated affiliates 0 4,987
Issuances of Common Units to acquire real estate assets 6,163 0
Initial recognition of lease liabilities related to right of use assets 0 35,349
Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities $ 84,300 $ 54,900
[1] Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities at September 30, 2020 and 2019 were $84.3 million and $54.9 million, respectively.
v3.20.2
Description of Business and Significant Accounting Policies
 9 Months Ended
Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Description of Business and Significant Accounting Policies Description of Business and Significant Accounting Policies
Description of Business

Highwoods Properties, Inc. (the “Company”) is a fully integrated real estate investment trust (“REIT”) that provides leasing, management, development, construction and other customer-related services for its properties and for third parties. The Company conducts its activities through Highwoods Realty Limited Partnership (the “Operating Partnership”). At September 30, 2020, we owned or had an interest in 27.9 million rentable square feet of in-service properties, 1.2 million rentable square feet of office properties under development and approximately 225 acres of development land.

The Company is the sole general partner of the Operating Partnership. At September 30, 2020, the Company owned all of the Preferred Units and 103.5 million, or 97.3%, of the Common Units in the Operating Partnership. Limited partners owned the remaining 2.8 million Common Units. During the nine months ended September 30, 2020, the Company issued 118,592 Common Units to acquire real estate assets.

Basis of Presentation

Our Consolidated Financial Statements are prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”).

The Company’s Consolidated Financial Statements include the Operating Partnership, wholly owned subsidiaries and those entities in which the Company has the controlling interest. The Operating Partnership’s Consolidated Financial Statements include wholly owned subsidiaries and those entities in which the Operating Partnership has the controlling interest. We consolidate joint venture investments, such as interests in partnerships and limited liability companies, when we control the major operating and financial policies of the investment through majority ownership, in our capacity as a general partner or managing member or through some other contractual right. We also consolidate those entities deemed to be variable interest entities in which we are determined to be the primary beneficiary. At September 30, 2020, we have involvement with, and are the primary beneficiary in, an entity that we concluded to be a variable interest entity (see Note 3). All intercompany transactions and accounts have been eliminated.

The unaudited interim consolidated financial statements and accompanying unaudited consolidated financial information, in the opinion of management, contain all adjustments (including normal recurring accruals) necessary for a fair presentation of our financial position, results of operations and cash flows. We have condensed or omitted certain notes and other information from the interim Consolidated Financial Statements presented in this Quarterly Report as permitted by SEC rules and regulations. These Consolidated Financial Statements should be read in conjunction with our 2019 Annual Report on Form 10-K.

Use of Estimates

The preparation of consolidated financial statements in accordance with GAAP requires us to make estimates and assumptions that affect the amounts reported in our Consolidated Financial Statements and accompanying notes. Actual results could differ from those estimates.

Insurance

We are primarily self-insured for health care claims for participating employees. We have stop-loss coverage to limit our exposure to significant claims on a per claim and annual aggregate basis. We determine our liabilities for claims, including incurred but not reported losses, based on all relevant information, including actuarial estimates of claim liabilities. At September 30, 2020, a reserve of $0.5 million was recorded to cover estimated reported and unreported claims.
Recently Issued Accounting Standards

The Financial Accounting Standards Board (“FASB”) issued an accounting standards update (“ASU”) that changes certain disclosure requirements for fair value measurements. We adopted the ASU as of January 1, 2020 with no material effect on our Notes to Consolidated Financial Statements.

The FASB issued an ASU that provides temporary optional expedients and exceptions to the guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from LIBOR and other interbank offered rates to alternative reference rates, such as the Secured Overnight Financing Rate (“SOFR”). Entities can elect not to apply certain modification accounting requirements to contracts affected by reference rate reform, if certain criteria are met. An entity that makes this election would not have to remeasure the contracts at the modification date or reassess a previous accounting determination. Entities can also elect various optional expedients that would allow them to continue applying hedge accounting for hedging relationships affected by reference rate reform, if certain criteria are met. The guidance in this ASU is optional and may be elected over the period March 12, 2020 through December 31, 2022 as reference rate reform activities occur. We will continue to evaluate the impact of this ASU; however, we currently expect to avail ourselves of such optional expedients and exceptions should our modified contracts meet the required criteria.

Due to the business disruptions and challenges severely affecting the global economy caused by the COVID-19 pandemic, lessors may provide rent deferrals and other lease concessions to lessees. In April 2020, the FASB staff issued a question and answer document (the “Lease Modification Q&A”) focused on the application of lease accounting guidance to lease concessions provided as a result of the COVID-19 pandemic. Under existing lease guidance, we would have to determine, on a lease by lease basis, if a lease concession was the result of a new arrangement reached with the tenant (treated within the lease modification accounting framework) or if a lease concession was under the enforceable rights and obligations within the existing lease agreement (precluded from applying the lease modification accounting framework). The Lease Modification Q&A allows us, if certain criteria have been met, to bypass the lease by lease analysis, and instead elect to either apply the lease modification accounting framework or not, with such election applied consistently to leases with similar characteristics and similar circumstances. We have elected the practical expedient and will not apply lease modification accounting on a lease by lease basis where applicable. As a result, $6.0 million of deferred rent is included in accounts receivable on our Consolidated Balance Sheets at September 30, 2020.
v3.20.2
Leases
 9 Months Ended
Sep. 30, 2020
Leases [Abstract]  
Leases Leases We generally lease our office properties to lessees in exchange for fixed monthly payments that cover rent, property taxes, insurance and certain cost recoveries, primarily common area maintenance. Office properties owned by us that are under lease are primarily located in Atlanta, Charlotte, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa and are leased to a wide variety of lessees across many industries. Our leases are operating leases and mostly range from three to 10 years. We recognized rental and other revenues related to operating lease payments of $178.9 million and $184.2 million during the three months ended September 30, 2020 and 2019, respectively, and $549.5 million and $534.2 million during the nine months ended September 30, 2020 and 2019, respectively. Included in these amounts are variable lease payments of $12.8 million and $17.3 million during the three months ended September 30, 2020 and 2019, respectively, and $42.7 million and $49.2 million during the nine months ended September 30, 2020 and 2019, respectively.
v3.20.2
Consolidated Variable Interest Entity
 9 Months Ended
Sep. 30, 2020
Variable Interest Entities [Abstract]  
Consolidated Variable Interest Entity Consolidated Variable Interest EntityIn 2019, we and The Bromley Companies formed a joint venture (the “Midtown One joint venture”) to construct Midtown West, a 150,000 square foot, multi-customer office building located in the mixed-use Midtown Tampa project in Tampa’s Westshore submarket. Midtown West has an anticipated total investment of $71.3 million. Construction of Midtown West began in the third quarter of 2019 with a scheduled completion date in the second quarter of 2021. At closing, we agreed to contribute cash of $20.0 million, which has been fully funded, in exchange for an 80.0% interest in the Midtown One joint venture and The Bromley Companies contributed land valued at $5.0 million in exchange for the remaining 20.0% interest. We also committed to provide a $46.3 million interest-only secured construction loan to the Midtown One joint venture that is scheduled to mature on the second anniversary of completion. The loan bears interest at LIBOR plus 250 basis points. As of September 30, 2020, $13.7 million under the loan has been funded.
We determined that we have a variable interest in the Midtown One joint venture primarily because the entity was designed to pass along interest rate risk, equity price risk and operation risk to us as both a debt and an equity holder and The Bromley Companies as an equity holder. The Midtown One joint venture was further determined to be a variable interest entity as it requires additional subordinated financial support in the form of a loan because the initial equity investment provided by us and The Bromley Companies is not sufficient to finance its planned investments and operations. We, as majority owner and managing member and through our control rights as set forth in the joint venture’s governance documents, were determined to be the primary beneficiary as we have both the power to direct the activities that most significantly affect the entity (primarily lease rates, property operations and capital expenditures) and significant economic exposure through our equity investment and loan commitment. As such, the Midtown One joint venture is consolidated and all intercompany transactions and accounts are eliminated. The following table sets forth the assets and liabilities of the Midtown One joint venture included on our Consolidated Balance Sheets:
September 30,
2020
Development in-process$42,015 
Accounts payable, accrued expenses and other liabilities$2,706 

The assets of the Midtown One joint venture can be used only to settle obligations of the joint venture and its creditors have no recourse to our wholly owned assets.
v3.20.2
Real Estate Assets
 9 Months Ended
Sep. 30, 2020
Real Estate [Abstract]  
Real Estate Assets Real Estate Assets
Acquisitions

During the second quarter of 2020, we acquired development land in Raleigh for a purchase price, including capitalized acquisition costs, of $2.3 million.

During the first quarter of 2020, we acquired development land in Nashville for a purchase price of $6.2 million, which consisted of the issuance of 118,592 Common Units and capitalized acquisition costs.

Dispositions

During the third quarter of 2020, we sold two buildings in Memphis for an aggregate sale price of $23.3 million and recorded aggregate gains on disposition of property of $9.4 million. During the third quarter of 2020, we also recognized $0.6 million of aggregate gains related to the disposition of property in the first quarter of 2020.

During the second quarter of 2020, we sold land in Atlanta for a sale price of $2.8 million and recorded a loss on disposition of property of $0.1 million. During the second quarter of 2020, we also recognized $0.4 million of gain related to the satisfaction of a performance obligation as part of a 2016 land sale.

During the first quarter of 2020, we sold 41 buildings and land in Greensboro and Memphis for an aggregate sale price of $338.4 million (before closing credits to buyer of $3.8 million) and recorded aggregate gains on disposition of property of $153.1 million.

Impairments

During the second quarter of 2020, we recorded an impairment of real estate assets of $1.8 million, which resulted from a change in market-based inputs and our assumptions about the use of the assets.
v3.20.2
Intangible Assets and Below Market Lease Liabilities
 9 Months Ended
Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Below Market Lease Liabilities Intangible Assets and Below Market Lease Liabilities
The following table sets forth total intangible assets and acquisition-related below market lease liabilities, net of accumulated amortization:

September 30,
2020		December 31,
2019
Assets:
Deferred leasing costs (including lease incentives and above market lease and in-place lease acquisition-related intangible assets)$369,374 $377,472 
Less accumulated amortization(153,045)(146,125)
$216,329 $231,347 
Liabilities (in accounts payable, accrued expenses and other liabilities):
Acquisition-related below market lease liabilities$64,569 $65,971 
Less accumulated amortization(37,173)(34,014)
$27,396 $31,957 
The following table sets forth amortization of intangible assets and below market lease liabilities:

Three Months Ended
September 30,		Nine Months Ended
September 30,
2020201920202019
Amortization of deferred leasing costs and acquisition-related intangible assets (in depreciation and amortization)$8,466 $9,003 $25,830 $28,077 
Amortization of lease incentives (in rental and other revenues)$477 $540 $1,396 $3,848 
Amortization of acquisition-related intangible assets (in rental and other revenues)$273 $305 $882 $1,005 
Amortization of acquisition-related intangible assets (in rental property and other expenses)$140 $140 $417 $416 
Amortization of acquisition-related below market lease liabilities (in rental and other revenues)$(1,479)$(1,656)$(4,562)$(5,072)
The following table sets forth scheduled future amortization of intangible assets and below market lease liabilities:

Amortization of Deferred Leasing Costs and Acquisition-Related Intangible Assets (in Depreciation and Amortization)Amortization of Lease Incentives (in Rental and Other Revenues)Amortization of Acquisition-Related Intangible Assets (in Rental and Other Revenues)Amortization of Acquisition-Related Intangible Assets (in Rental Property and Other Expenses)Amortization of Acquisition-Related Below Market Lease Liabilities (in Rental and Other Revenues)
October 1 through December 31, 2020$9,338 $460 $244 $93 $(1,395)
202134,011 1,601 718 — (5,013)
202229,936 1,392 601 — (3,982)
202326,470 1,315 447 — (3,607)
202423,322 1,170 373 — (2,939)
Thereafter77,046 5,631 2,161 — (10,460)
$200,123 $11,569 $4,544 $93 $(27,396)
Weighted average remaining amortization periods as of September 30, 2020 (in years)
8.39.59.70.28.6
v3.20.2
Mortgages and Notes Payable
 9 Months Ended
Sep. 30, 2020
Debt Disclosure [Abstract]  
Mortgages and Notes Payable Mortgages and Notes Payable
The following table sets forth our mortgages and notes payable:
September 30,
2020		December 31,
2019
Secured indebtedness$93,846 $95,303 
Unsecured indebtedness2,390,241 2,461,425 
Less-unamortized debt issuance costs(14,533)(13,018)
Total mortgages and notes payable, net$2,469,554 $2,543,710 

At September 30, 2020, our secured mortgage loan was collateralized by real estate assets with an undepreciated book value of $147.6 million.

Our $600.0 million unsecured revolving credit facility is scheduled to mature in January 2022 and includes an accordion feature that allows for an additional $400.0 million of borrowing capacity subject to additional lender commitments. Assuming no defaults have occurred, we have an option to extend the maturity for two additional six-month periods. The interest rate at our current credit ratings is LIBOR plus 100 basis points and the annual facility fee is 20 basis points. There were no amounts outstanding under our revolving credit facility at both September 30, 2020 and October 20, 2020. At both September 30, 2020 and October 20, 2020, we had $0.1 million of outstanding letters of credit, which reduces the availability on our revolving credit facility. As a result, the unused capacity of our revolving credit facility at both September 30, 2020 and October 20, 2020 was $599.9 million.

During the third quarter of 2020, the Operating Partnership issued $400.0 million aggregate principal amount of 2.600% notes due February 2031, less original issuance discount of $1.6 million. These notes were priced to yield 2.645%. Underwriting fees and other expenses were incurred that aggregated $3.4 million; these costs were deferred and will be amortized over the term of the notes. The net proceeds from the issuance were used: (1) to finance the Operating Partnership’s cash tender offer to purchase $150.0 million principal amount of its 3.20% notes due June 15, 2021 at a purchase price of 101.908% of the face amount of the notes, plus accrued and unpaid interest; (2) to prepay without penalty our $100.0 million unsecured bank term loan that was scheduled to mature in January 2022 and which bore interest at LIBOR plus 110 basis points; and (3) for general corporate purposes. We recorded $3.7 million of aggregate losses on debt extinguishment related to the repurchase of the 3.20% notes and the term loan prepayment.

We are currently in compliance with financial covenants with respect to our consolidated debt.

We have considered our short-term liquidity needs within one year from October 27, 2020 (the date of issuance of the quarterly financial statements) and the adequacy of our estimated cash flows from operating activities and other available financing sources to meet these needs. In particular, we have considered our scheduled debt maturities during such one-year period, including the $150.0 million principal amount of unsecured notes due June 15, 2021. We have concluded it is probable we will meet these short-term liquidity requirements through a combination of the following:

•available cash and cash equivalents;

•cash flows from operating activities;

•issuance of debt securities by the Operating Partnership;

•issuance of secured debt;

•bank term loans;

•borrowings under our revolving credit facility;

•issuance of equity securities by the Company or the Operating Partnership; and

•the disposition of non-core assets.
v3.20.2
Derivative Financial Instruments
 9 Months Ended
Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments Derivative Financial Instruments
The counterparties under our swaps are major financial institutions. The swap agreements contain a provision whereby if we default on certain of our indebtedness and which default results in repayment of such indebtedness being, or becoming capable of being, accelerated by the lender, then we could also be declared in default on our swaps.

Our interest rate swaps have been designated as and are being accounted for as cash flow hedges with changes in fair value recorded in other comprehensive income/(loss) each reporting period. We have no collateral requirements related to our interest rate swaps.

Amounts reported in accumulated other comprehensive income/(loss) related to derivatives will be reclassified to interest expense as interest payments are made on our debt. During the period from October 1, 2020 through September 30, 2021, we estimate that $0.5 million will be reclassified as a net increase to interest expense.

The following table sets forth the fair value of our derivatives:
September 30,
2020		December 31,
2019
Derivatives:
Derivatives designated as cash flow hedges in accounts payable, accrued expenses and other liabilities:
Interest rate swaps$1,036 $154 
The following table sets forth the effect of our cash flow hedges on accumulated other comprehensive income/(loss) and interest expense:

Three Months Ended
September 30,		Nine Months Ended
September 30,
2020201920202019
Derivatives Designated as Cash Flow Hedges:
Amount of unrealized gains/(losses) recognized in accumulated other comprehensive income/(loss) on derivatives:
Interest rate swaps$5 $(6,732)$(1,231)$(9,282)
Amount of (gains)/losses reclassified out of accumulated other comprehensive income/(loss) into interest expense:
Interest rate swaps$122 $(283)$125 $(1,158)
v3.20.2
Noncontrolling Interests
 9 Months Ended
Sep. 30, 2020
Noncontrolling Interest [Abstract]  
Noncontrolling Interests Noncontrolling Interests
Noncontrolling Interests in Consolidated Affiliates

At September 30, 2020, our noncontrolling interests in consolidated affiliates relate to our joint venture partners’ 50.0% interest in office properties in Richmond and 20.0% interest in an office development property in Tampa. Our joint venture partners are unrelated third parties.

Noncontrolling Interests in the Operating Partnership

The following table sets forth the Company’s noncontrolling interests in the Operating Partnership:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2020201920202019
Beginning noncontrolling interests in the Operating Partnership$106,103 $112,778 $133,216 $105,960 
Adjustment of noncontrolling interests in the Operating Partnership to fair value(10,430)10,493 (46,955)19,025 
Issuances of Common Units— — 6,163 — 
Conversions of Common Units to Common Stock— (219)— (572)
Net income attributable to noncontrolling interests in the Operating Partnership1,107 737 7,084 1,974 
Distributions to noncontrolling interests in the Operating Partnership(1,364)(1,296)(4,092)(3,894)
Total noncontrolling interests in the Operating Partnership$95,416 $122,493 $95,416 $122,493 

The following table sets forth net income available for common stockholders and transfers from the Company’s noncontrolling interests in the Operating Partnership:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2020201920202019
Net income available for common stockholders$40,304 $27,901 $262,805 $74,578 
Increase in additional paid in capital from conversions of Common Units to Common Stock
— 219 — 572 
Issuances of Common Units— — (6,163)— 
Change from net income available for common stockholders and transfers from noncontrolling interests
$40,304 $28,120 $256,642 $75,150 
v3.20.2
Disclosure About Fair Value of Financial Instruments
 9 Months Ended
Sep. 30, 2020
Fair Value Disclosures [Abstract]  
Disclosure About Fair Value of Financial Instruments Disclosure About Fair Value of Financial Instruments
The following summarizes the levels of inputs that we use to measure fair value.

Level 1.  Quoted prices in active markets for identical assets or liabilities.

Our Level 1 asset is our investment in marketable securities that we use to pay benefits under our non-qualified deferred compensation plan. Our Level 1 liability is our non-qualified deferred compensation obligation. The Company’s Level 1 noncontrolling interests in the Operating Partnership relate to the ownership of Common Units by various individuals and entities other than the Company.

Level 2. Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities.

Our Level 2 assets include the fair value of our mortgages and notes receivable. Our Level 2 liabilities include the fair value of our mortgages and notes payable and interest rate swaps.

The fair value of mortgages and notes receivable and mortgages and notes payable is estimated by the income approach utilizing contractual cash flows and market-based interest rates to approximate the price that would be paid in an orderly transaction between market participants. The fair value of interest rate swaps is determined using the market standard methodology of netting the discounted future fixed cash receipts and the discounted expected variable cash payments. The variable cash payments of interest rate swaps are based on the expectation of future interest rates (forward curves) derived from observed market interest rate curves. In addition, credit valuation adjustments are considered in the fair values to account for potential nonperformance risk, but were concluded to not be significant inputs to the calculation for the periods presented.

Level 3. Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

Our Level 3 assets include any real estate assets recorded at fair value on a non-recurring basis as a result of our quarterly impairment analysis, which are valued using unobservable local and national industry market data such as comparable sales, appraisals, brokers’ opinions of value and/or the terms of definitive sales contracts. Significant increases or decreases in any valuation inputs in isolation would result in a significantly lower or higher fair value measurement.
The following table sets forth our assets and liabilities and the Company’s noncontrolling interests in the Operating Partnership that are measured or disclosed at fair value within the fair value hierarchy:
Level 1Level 2
TotalQuoted Prices
in Active
Markets for Identical Assets or Liabilities		Significant Observable Inputs
Fair Value at September 30, 2020:
Assets:
Mortgages and notes receivable, at fair value (1)
$1,390 $— $1,390 
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets)
2,259 2,259 — 
Total Assets$3,649 $2,259 $1,390 
Noncontrolling Interests in the Operating Partnership$95,416 $95,416 $— 
Liabilities:
Mortgages and notes payable, net, at fair value (1)
$2,601,035 $— $2,601,035 
Interest rate swaps (in accounts payable, accrued expenses and other liabilities)
1,036 — 1,036 
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities)
2,259 2,259 — 
Total Liabilities
$2,604,330 $2,259 $2,602,071 
Fair Value at December 31, 2019:
Assets:
Mortgages and notes receivable, at fair value (1)
$1,501 $— $1,501 
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets)
2,345 2,345 — 
Total Assets$3,846 $2,345 $1,501 
Noncontrolling Interests in the Operating Partnership$133,216 $133,216 $— 
Liabilities:
Mortgages and notes payable, net, at fair value (1)
$2,615,776 $— $2,615,776 
Interest rate swaps (in accounts payable, accrued expenses and other liabilities)
154 — 154 
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities)
2,345 2,345 — 
Total Liabilities
$2,618,275 $2,345 $2,615,930 
__________
(1)    Amounts are not recorded at fair value on our Consolidated Balance Sheets at September 30, 2020 and December 31, 2019.

The Level 3 impaired real estate assets measured at a fair value of $2.1 million in the second quarter of 2020 included a non-core office building. The impairment resulted from a change in our assumptions about the use of the assets and was calculated using brokers’ opinions of value, letters of intent and comparable sales as observable inputs were not available.
v3.20.2
Share-Based Payments
 9 Months Ended
Sep. 30, 2020
Share-based Payment Arrangement [Abstract]  
Share-Based Payments Share-Based PaymentsDuring the nine months ended September 30, 2020, the Company granted 83,116 shares of time-based restricted stock and 66,188 shares of total return-based restricted stock with weighted average grant date fair values per share of $44.88 and $38.31, respectively. We recorded share-based compensation expense of $1.2 million and $0.7 million during the three months ended September 30, 2020 and 2019, respectively, and $5.0 million and $6.2 million during the nine months ended September 30, 2020 and 2019, respectively. At September 30, 2020, there was $6.5 million of total unrecognized share-based compensation costs, which will be recognized over a weighted average remaining contractual term of 2.0 years.
v3.20.2
Accumulated Other Comprehensive Income/(Loss)
 9 Months Ended
Sep. 30, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Income/(Loss) Accumulated Other Comprehensive Income/(Loss)
The following table sets forth the components of accumulated other comprehensive income/(loss):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2020201920202019
Cash flow hedges:
Beginning balance$(1,704)$6,488 $(471)$9,913 
Unrealized gains/(losses) on cash flow hedges5 (6,732)(1,231)(9,282)
Amortization of cash flow hedges (1)
122 (283)125 (1,158)
Total accumulated other comprehensive loss$(1,577)$(527)$(1,577)$(527)
__________
(1)    Amounts reclassified out of accumulated other comprehensive income/(loss) into interest expense.
v3.20.2
Real Estate and Other Assets Held For Sale
 9 Months Ended
Sep. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]  
Real Estate and Other Assets Held For Sale Real Estate and Other Assets Held For Sale
The following table sets forth the assets held for sale at September 30, 2020 and December 31, 2019, which are considered non-core:
September 30,
2020		December 31,
2019
Assets:
Land$18,645 $4,815 
Buildings and tenant improvements72,869 29,581 
Less-accumulated depreciation(22,139)(16,775)
Net real estate assets69,375 17,621 
Accrued straight-line rents receivable1,512 2,073 
Deferred leasing costs, net1,842 1,096 
Real estate and other assets, net, held for sale$72,729 $20,790 
v3.20.2
Earnings Per Share and Per Unit
 9 Months Ended
Sep. 30, 2020
Earnings Per Share [Abstract]  
Earnings Per Share and Per Unit Earnings Per Share and Per Unit
The following table sets forth the computation of basic and diluted earnings per share of the Company:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2020201920202019
Earnings per Common Share - basic:
Numerator:
Net income$42,331 $29,557 $272,627 $79,337 
Net (income) attributable to noncontrolling interests in the Operating Partnership
(1,107)(737)(7,084)(1,974)
Net (income) attributable to noncontrolling interests in consolidated affiliates
(298)(297)(872)(919)
Dividends on Preferred Stock(622)(622)(1,866)(1,866)
Net income available for common stockholders$40,304 $27,901 $262,805 $74,578 
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)
103,896 103,727 103,865 103,674 
Net income available for common stockholders$0.39 $0.27 $2.53 $0.72 
Earnings per Common Share - diluted:
Numerator:
Net income$42,331 $29,557 $272,627 $79,337 
Net (income) attributable to noncontrolling interests in consolidated affiliates
(298)(297)(872)(919)
Dividends on Preferred Stock(622)(622)(1,866)(1,866)
Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership
$41,411 $28,638 $269,889 $76,552 
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)
103,896 103,727 103,865 103,674 
Add:
Stock options using the treasury method2 16 10 18 
Noncontrolling interests Common Units2,842 2,728 2,827 2,733 
Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions
106,740 106,471 106,702 106,425 
Net income available for common stockholders$0.39 $0.27 $2.53 $0.72 
__________
(1)Includes all unvested restricted stock where dividends on such restricted stock are non-forfeitable.
The following table sets forth the computation of basic and diluted earnings per unit of the Operating Partnership:

Three Months Ended
September 30,		Nine Months Ended
September 30,
2020201920202019
Earnings per Common Unit - basic:
Numerator:
Net income$42,331 $29,557 $272,627 $79,337 
Net (income) attributable to noncontrolling interests in consolidated affiliates
(298)(297)(872)(919)
Distributions on Preferred Units(622)(622)(1,866)(1,866)
Net income available for common unitholders$41,411 $28,638 $269,889 $76,552 
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)
106,329 106,046 106,283 105,998 
Net income available for common unitholders$0.39 $0.27 $2.54 $0.72 
Earnings per Common Unit - diluted:
Numerator:
Net income$42,331 $29,557 $272,627 $79,337 
Net (income) attributable to noncontrolling interests in consolidated affiliates
(298)(297)(872)(919)
Distributions on Preferred Units(622)(622)(1,866)(1,866)
Net income available for common unitholders$41,411 $28,638 $269,889 $76,552 
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)
106,329 106,046 106,283 105,998 
Add:
Stock options using the treasury method2 16 10 18 
Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions
106,331 106,062 106,293 106,016 
Net income available for common unitholders$0.39 $0.27 $2.54 $0.72 
__________
(1)Includes all unvested restricted stock where distributions on such restricted stock are non-forfeitable.
v3.20.2
Segment Information
 9 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]  
Segment Information Segment Information
The following tables summarize the rental and other revenues and net operating income, the primary industry property-level performance metric used by our chief operating decision maker and which is defined as rental and other revenues less rental property and other expenses, for each of our reportable segments. Our segment information for the three and nine months ended September 30, 2019 has been retrospectively revised from previously reported amounts to reflect a change in our reportable segments as a result of recent dispositions.
Three Months Ended
September 30,		Nine Months Ended
September 30,
2020201920202019
Rental and Other Revenues:
Office:
Atlanta$36,022 $39,120 $110,518 $113,115 
Charlotte8,858 — 26,801 — 
Nashville34,661 34,748 103,780 99,256 
Orlando11,518 12,854 36,844 39,781 
Pittsburgh14,430 15,154 44,054 45,463 
Raleigh32,037 30,688 95,792 90,458 
Richmond11,878 12,576 35,972 37,203 
Tampa24,575 23,563 75,177 62,631 
Total Office Segment173,979 168,703 528,938 487,907 
Other7,064 18,772 28,058 56,001 
Total Rental and Other Revenues$181,043 $187,475 $556,996 $543,908 
Net Operating Income:
Office:
Atlanta$23,303 $24,372 $72,387 $72,614 
Charlotte6,973 — 21,298 — 
Nashville25,022 25,191 74,907 71,717 
Orlando6,505 7,889 22,260 24,452 
Pittsburgh8,934 9,150 26,954 27,179 
Raleigh24,037 22,066 71,670 65,363 
Richmond8,204 8,337 25,403 25,499 
Tampa16,829 14,339 51,025 35,715 
Total Office Segment119,807 111,344 365,904 322,539 
Other4,344 11,996 16,879 36,125 
Total Net Operating Income124,151 123,340 382,783 358,664 
Reconciliation to net income:
Depreciation and amortization(60,303)(60,850)(180,914)(189,514)
Impairments of real estate assets— (5,318)(1,778)(5,849)
General and administrative expenses(9,155)(11,717)(30,169)(33,658)
Interest expense(19,886)(20,527)(61,003)(59,622)
Other income/(loss)(3,311)174 (2,654)(3,271)
Gains on disposition of property10,012 3,515 163,397 10,218 
Equity in earnings of unconsolidated affiliates823 940 2,965 2,369 
Net income$42,331 $29,557 $272,627 $79,337 
v3.20.2
Contingencies
 9 Months Ended
Sep. 30, 2020
Loss Contingency [Abstract]  
Contingencies ContingenciesSince early March 2020, efforts to slow the spread of the COVID-19 virus have had a significant impact on the U.S. economy. We continue to follow the policies described in Notes 1 and 2 to our Consolidated Financial Statements contained in our 2019 Annual Report on Form 10-K, including those related to impairments of real estate assets and investments in unconsolidated affiliates, leases and estimates of credit losses on operating lease receivables. While the results of our current analyses did not result in any material adjustments to amounts as of September 30, 2020 and during the three and nine months ended September 30, 2020, circumstances related to the COVID-19 pandemic may result in recording impairments, lease modifications and credit losses in future periods.
v3.20.2
Subsequent Events
 9 Months Ended
Sep. 30, 2020
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
On October 1, 2020, we sold a building in Greensboro for a sale price of $4.6 million and expect to record a gain on disposition of property of $1.3 million.

On October 15, 2020, the Company declared a cash dividend of $0.48 per share of Common Stock, which is payable on December 8, 2020 to stockholders of record as of November 16, 2020.

See also Note 15 for information regarding the potential impact of the COVID-19 pandemic in future periods. The severity and duration of the COVID-19 pandemic and the resulting economic recession and the future demand for office space over the long-term are difficult to predict and could materially and adversely impact or disrupt our financial condition, results of operations, cash flows and performance.
v3.20.2
Description of Business and Significant Accounting Policies (Policies)
 9 Months Ended
Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation
Basis of Presentation

Our Consolidated Financial Statements are prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”).

The Company’s Consolidated Financial Statements include the Operating Partnership, wholly owned subsidiaries and those entities in which the Company has the controlling interest. The Operating Partnership’s Consolidated Financial Statements include wholly owned subsidiaries and those entities in which the Operating Partnership has the controlling interest. We consolidate joint venture investments, such as interests in partnerships and limited liability companies, when we control the major operating and financial policies of the investment through majority ownership, in our capacity as a general partner or managing member or through some other contractual right. We also consolidate those entities deemed to be variable interest entities in which we are determined to be the primary beneficiary. At September 30, 2020, we have involvement with, and are the primary beneficiary in, an entity that we concluded to be a variable interest entity (see Note 3). All intercompany transactions and accounts have been eliminated.
The unaudited interim consolidated financial statements and accompanying unaudited consolidated financial information, in the opinion of management, contain all adjustments (including normal recurring accruals) necessary for a fair presentation of our financial position, results of operations and cash flows. We have condensed or omitted certain notes and other information from the interim Consolidated Financial Statements presented in this Quarterly Report as permitted by SEC rules and regulations. These Consolidated Financial Statements should be read in conjunction with our 2019 Annual Report on Form 10-K.
Use of Estimates
Use of Estimates

The preparation of consolidated financial statements in accordance with GAAP requires us to make estimates and assumptions that affect the amounts reported in our Consolidated Financial Statements and accompanying notes. Actual results could differ from those estimates.
Insurance InsuranceWe are primarily self-insured for health care claims for participating employees. We have stop-loss coverage to limit our exposure to significant claims on a per claim and annual aggregate basis. We determine our liabilities for claims, including incurred but not reported losses, based on all relevant information, including actuarial estimates of claim liabilities.
Recently Issued Accounting Standards
Recently Issued Accounting Standards

The Financial Accounting Standards Board (“FASB”) issued an accounting standards update (“ASU”) that changes certain disclosure requirements for fair value measurements. We adopted the ASU as of January 1, 2020 with no material effect on our Notes to Consolidated Financial Statements.

The FASB issued an ASU that provides temporary optional expedients and exceptions to the guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from LIBOR and other interbank offered rates to alternative reference rates, such as the Secured Overnight Financing Rate (“SOFR”). Entities can elect not to apply certain modification accounting requirements to contracts affected by reference rate reform, if certain criteria are met. An entity that makes this election would not have to remeasure the contracts at the modification date or reassess a previous accounting determination. Entities can also elect various optional expedients that would allow them to continue applying hedge accounting for hedging relationships affected by reference rate reform, if certain criteria are met. The guidance in this ASU is optional and may be elected over the period March 12, 2020 through December 31, 2022 as reference rate reform activities occur. We will continue to evaluate the impact of this ASU; however, we currently expect to avail ourselves of such optional expedients and exceptions should our modified contracts meet the required criteria.
Due to the business disruptions and challenges severely affecting the global economy caused by the COVID-19 pandemic, lessors may provide rent deferrals and other lease concessions to lessees. In April 2020, the FASB staff issued a question and answer document (the “Lease Modification Q&A”) focused on the application of lease accounting guidance to lease concessions provided as a result of the COVID-19 pandemic. Under existing lease guidance, we would have to determine, on a lease by lease basis, if a lease concession was the result of a new arrangement reached with the tenant (treated within the lease modification accounting framework) or if a lease concession was under the enforceable rights and obligations within the existing lease agreement (precluded from applying the lease modification accounting framework). The Lease Modification Q&A allows us, if certain criteria have been met, to bypass the lease by lease analysis, and instead elect to either apply the lease modification accounting framework or not, with such election applied consistently to leases with similar characteristics and similar circumstances. We have elected the practical expedient and will not apply lease modification accounting on a lease by lease basis where applicable.
v3.20.2
Consolidated Variable Interest Entity (Tables)
 9 Months Ended
Sep. 30, 2020
Variable Interest Entities [Abstract]  
Schedule of Variable Interest Entities The following table sets forth the assets and liabilities of the Midtown One joint venture included on our Consolidated Balance Sheets:
September 30,
2020
Development in-process$42,015 
Accounts payable, accrued expenses and other liabilities$2,706 
v3.20.2
Intangible Assets and Below Market Lease Liabilities (Tables)
 9 Months Ended
Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Total Intangible Assets and Below Market Lease Liabilities
The following table sets forth total intangible assets and acquisition-related below market lease liabilities, net of accumulated amortization:

September 30,
2020		December 31,
2019
Assets:
Deferred leasing costs (including lease incentives and above market lease and in-place lease acquisition-related intangible assets)$369,374 $377,472 
Less accumulated amortization(153,045)(146,125)
$216,329 $231,347 
Liabilities (in accounts payable, accrued expenses and other liabilities):
Acquisition-related below market lease liabilities$64,569 $65,971 
Less accumulated amortization(37,173)(34,014)
$27,396 $31,957 
Amortization of Intangible Assets and Below Market Lease Liabilities
The following table sets forth amortization of intangible assets and below market lease liabilities:

Three Months Ended
September 30,		Nine Months Ended
September 30,
2020201920202019
Amortization of deferred leasing costs and acquisition-related intangible assets (in depreciation and amortization)$8,466 $9,003 $25,830 $28,077 
Amortization of lease incentives (in rental and other revenues)$477 $540 $1,396 $3,848 
Amortization of acquisition-related intangible assets (in rental and other revenues)$273 $305 $882 $1,005 
Amortization of acquisition-related intangible assets (in rental property and other expenses)$140 $140 $417 $416 
Amortization of acquisition-related below market lease liabilities (in rental and other revenues)$(1,479)$(1,656)$(4,562)$(5,072)
Scheduled Future Amortization of Intangible Assets and Below Market Lease Liabilities
The following table sets forth scheduled future amortization of intangible assets and below market lease liabilities:

Amortization of Deferred Leasing Costs and Acquisition-Related Intangible Assets (in Depreciation and Amortization)Amortization of Lease Incentives (in Rental and Other Revenues)Amortization of Acquisition-Related Intangible Assets (in Rental and Other Revenues)Amortization of Acquisition-Related Intangible Assets (in Rental Property and Other Expenses)Amortization of Acquisition-Related Below Market Lease Liabilities (in Rental and Other Revenues)
October 1 through December 31, 2020$9,338 $460 $244 $93 $(1,395)
202134,011 1,601 718 — (5,013)
202229,936 1,392 601 — (3,982)
202326,470 1,315 447 — (3,607)
202423,322 1,170 373 — (2,939)
Thereafter77,046 5,631 2,161 — (10,460)
$200,123 $11,569 $4,544 $93 $(27,396)
Weighted average remaining amortization periods as of September 30, 2020 (in years)
8.39.59.70.28.6
v3.20.2
Mortgages and Notes Payable (Tables)
 9 Months Ended
Sep. 30, 2020
Debt Disclosure [Abstract]  
Schedule of Consolidated Mortgages and Notes Payable
The following table sets forth our mortgages and notes payable:
September 30,
2020		December 31,
2019
Secured indebtedness$93,846 $95,303 
Unsecured indebtedness2,390,241 2,461,425 
Less-unamortized debt issuance costs(14,533)(13,018)
Total mortgages and notes payable, net$2,469,554 $2,543,710 
v3.20.2
Derivative Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments, Fair Value
The following table sets forth the fair value of our derivatives:
September 30,
2020		December 31,
2019
Derivatives:
Derivatives designated as cash flow hedges in accounts payable, accrued expenses and other liabilities:
Interest rate swaps$1,036 $154 
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance
The following table sets forth the effect of our cash flow hedges on accumulated other comprehensive income/(loss) and interest expense:

Three Months Ended
September 30,		Nine Months Ended
September 30,
2020201920202019
Derivatives Designated as Cash Flow Hedges:
Amount of unrealized gains/(losses) recognized in accumulated other comprehensive income/(loss) on derivatives:
Interest rate swaps$5 $(6,732)$(1,231)$(9,282)
Amount of (gains)/losses reclassified out of accumulated other comprehensive income/(loss) into interest expense:
Interest rate swaps$122 $(283)$125 $(1,158)
v3.20.2
Noncontrolling Interests (Tables) - Highwoods Properties, Inc. [Member]
 9 Months Ended
Sep. 30, 2020
Noncontrolling Interest [Line Items]  
Noncontrolling Interests in the Operating Partnership
The following table sets forth the Company’s noncontrolling interests in the Operating Partnership:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2020201920202019
Beginning noncontrolling interests in the Operating Partnership$106,103 $112,778 $133,216 $105,960 
Adjustment of noncontrolling interests in the Operating Partnership to fair value(10,430)10,493 (46,955)19,025 
Issuances of Common Units— — 6,163 — 
Conversions of Common Units to Common Stock— (219)— (572)
Net income attributable to noncontrolling interests in the Operating Partnership1,107 737 7,084 1,974 
Distributions to noncontrolling interests in the Operating Partnership(1,364)(1,296)(4,092)(3,894)
Total noncontrolling interests in the Operating Partnership$95,416 $122,493 $95,416 $122,493 
Net Income Available for Common Stockholders and Transfers From Noncontrolling Interests in the Operating Partnership
The following table sets forth net income available for common stockholders and transfers from the Company’s noncontrolling interests in the Operating Partnership:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2020201920202019
Net income available for common stockholders$40,304 $27,901 $262,805 $74,578 
Increase in additional paid in capital from conversions of Common Units to Common Stock
— 219 — 572 
Issuances of Common Units— — (6,163)— 
Change from net income available for common stockholders and transfers from noncontrolling interests
$40,304 $28,120 $256,642 $75,150 
v3.20.2
Disclosure About Fair Value of Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2020
Fair Value Disclosures [Abstract]  
Fair Value Measurements of Assets, Liabilities and Noncontrolling Interests
The following table sets forth our assets and liabilities and the Company’s noncontrolling interests in the Operating Partnership that are measured or disclosed at fair value within the fair value hierarchy:
Level 1Level 2
TotalQuoted Prices
in Active
Markets for Identical Assets or Liabilities		Significant Observable Inputs
Fair Value at September 30, 2020:
Assets:
Mortgages and notes receivable, at fair value (1)
$1,390 $— $1,390 
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets)
2,259 2,259 — 
Total Assets$3,649 $2,259 $1,390 
Noncontrolling Interests in the Operating Partnership$95,416 $95,416 $— 
Liabilities:
Mortgages and notes payable, net, at fair value (1)
$2,601,035 $— $2,601,035 
Interest rate swaps (in accounts payable, accrued expenses and other liabilities)
1,036 — 1,036 
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities)
2,259 2,259 — 
Total Liabilities
$2,604,330 $2,259 $2,602,071 
Fair Value at December 31, 2019:
Assets:
Mortgages and notes receivable, at fair value (1)
$1,501 $— $1,501 
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets)
2,345 2,345 — 
Total Assets$3,846 $2,345 $1,501 
Noncontrolling Interests in the Operating Partnership$133,216 $133,216 $— 
Liabilities:
Mortgages and notes payable, net, at fair value (1)
$2,615,776 $— $2,615,776 
Interest rate swaps (in accounts payable, accrued expenses and other liabilities)
154 — 154 
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities)
2,345 2,345 — 
Total Liabilities
$2,618,275 $2,345 $2,615,930 
__________
(1)    Amounts are not recorded at fair value on our Consolidated Balance Sheets at September 30, 2020 and December 31, 2019.
v3.20.2
Accumulated Other Comprehensive Income/(Loss) (Tables)
 9 Months Ended
Sep. 30, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Components of Accumulated Other Comprehensive Income/(Loss)
The following table sets forth the components of accumulated other comprehensive income/(loss):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2020201920202019
Cash flow hedges:
Beginning balance$(1,704)$6,488 $(471)$9,913 
Unrealized gains/(losses) on cash flow hedges5 (6,732)(1,231)(9,282)
Amortization of cash flow hedges (1)
122 (283)125 (1,158)
Total accumulated other comprehensive loss$(1,577)$(527)$(1,577)$(527)
__________
(1)    Amounts reclassified out of accumulated other comprehensive income/(loss) into interest expense.
v3.20.2
Real Estate and Other Assets Held For Sale (Tables)
 9 Months Ended
Sep. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]  
Real Estate and Other Assets of the Properties Classified As Held For Sale
The following table sets forth the assets held for sale at September 30, 2020 and December 31, 2019, which are considered non-core:
September 30,
2020		December 31,
2019
Assets:
Land$18,645 $4,815 
Buildings and tenant improvements72,869 29,581 
Less-accumulated depreciation(22,139)(16,775)
Net real estate assets69,375 17,621 
Accrued straight-line rents receivable1,512 2,073 
Deferred leasing costs, net1,842 1,096 
Real estate and other assets, net, held for sale$72,729 $20,790 
v3.20.2
Earnings Per Share and Per Unit (Tables)
 9 Months Ended
Sep. 30, 2020
Earnings Per Share and Per Unit Basic and Diluted [Line Items]  
Earnings Per Share
The following table sets forth the computation of basic and diluted earnings per share of the Company:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2020201920202019
Earnings per Common Share - basic:
Numerator:
Net income$42,331 $29,557 $272,627 $79,337 
Net (income) attributable to noncontrolling interests in the Operating Partnership
(1,107)(737)(7,084)(1,974)
Net (income) attributable to noncontrolling interests in consolidated affiliates
(298)(297)(872)(919)
Dividends on Preferred Stock(622)(622)(1,866)(1,866)
Net income available for common stockholders$40,304 $27,901 $262,805 $74,578 
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)
103,896 103,727 103,865 103,674 
Net income available for common stockholders$0.39 $0.27 $2.53 $0.72 
Earnings per Common Share - diluted:
Numerator:
Net income$42,331 $29,557 $272,627 $79,337 
Net (income) attributable to noncontrolling interests in consolidated affiliates
(298)(297)(872)(919)
Dividends on Preferred Stock(622)(622)(1,866)(1,866)
Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership
$41,411 $28,638 $269,889 $76,552 
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)
103,896 103,727 103,865 103,674 
Add:
Stock options using the treasury method2 16 10 18 
Noncontrolling interests Common Units2,842 2,728 2,827 2,733 
Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions
106,740 106,471 106,702 106,425 
Net income available for common stockholders$0.39 $0.27 $2.53 $0.72 
__________
(1)Includes all unvested restricted stock where dividends on such restricted stock are non-forfeitable.
Highwoods Realty Limited Partnership [Member]  
Earnings Per Share and Per Unit Basic and Diluted [Line Items]  
Earnings Per Unit
The following table sets forth the computation of basic and diluted earnings per unit of the Operating Partnership:

Three Months Ended
September 30,		Nine Months Ended
September 30,
2020201920202019
Earnings per Common Unit - basic:
Numerator:
Net income$42,331 $29,557 $272,627 $79,337 
Net (income) attributable to noncontrolling interests in consolidated affiliates
(298)(297)(872)(919)
Distributions on Preferred Units(622)(622)(1,866)(1,866)
Net income available for common unitholders$41,411 $28,638 $269,889 $76,552 
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)
106,329 106,046 106,283 105,998 
Net income available for common unitholders$0.39 $0.27 $2.54 $0.72 
Earnings per Common Unit - diluted:
Numerator:
Net income$42,331 $29,557 $272,627 $79,337 
Net (income) attributable to noncontrolling interests in consolidated affiliates
(298)(297)(872)(919)
Distributions on Preferred Units(622)(622)(1,866)(1,866)
Net income available for common unitholders$41,411 $28,638 $269,889 $76,552 
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)
106,329 106,046 106,283 105,998 
Add:
Stock options using the treasury method2 16 10 18 
Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions
106,331 106,062 106,293 106,016 
Net income available for common unitholders$0.39 $0.27 $2.54 $0.72 
__________
(1)Includes all unvested restricted stock where distributions on such restricted stock are non-forfeitable.
v3.20.2
Segment Information (Tables)
 9 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]  
Reconciliation of Revenue from Segments to Consolidated
The following tables summarize the rental and other revenues and net operating income, the primary industry property-level performance metric used by our chief operating decision maker and which is defined as rental and other revenues less rental property and other expenses, for each of our reportable segments. Our segment information for the three and nine months ended September 30, 2019 has been retrospectively revised from previously reported amounts to reflect a change in our reportable segments as a result of recent dispositions.
Three Months Ended
September 30,		Nine Months Ended
September 30,
2020201920202019
Rental and Other Revenues:
Office:
Atlanta$36,022 $39,120 $110,518 $113,115 
Charlotte8,858 — 26,801 — 
Nashville34,661 34,748 103,780 99,256 
Orlando11,518 12,854 36,844 39,781 
Pittsburgh14,430 15,154 44,054 45,463 
Raleigh32,037 30,688 95,792 90,458 
Richmond11,878 12,576 35,972 37,203 
Tampa24,575 23,563 75,177 62,631 
Total Office Segment173,979 168,703 528,938 487,907 
Other7,064 18,772 28,058 56,001 
Total Rental and Other Revenues$181,043 $187,475 $556,996 $543,908 
Reconciliation of Operating Profit (Loss) from Segments to Consolidated
Net Operating Income:
Office:
Atlanta$23,303 $24,372 $72,387 $72,614 
Charlotte6,973 — 21,298 — 
Nashville25,022 25,191 74,907 71,717 
Orlando6,505 7,889 22,260 24,452 
Pittsburgh8,934 9,150 26,954 27,179 
Raleigh24,037 22,066 71,670 65,363 
Richmond8,204 8,337 25,403 25,499 
Tampa16,829 14,339 51,025 35,715 
Total Office Segment119,807 111,344 365,904 322,539 
Other4,344 11,996 16,879 36,125 
Total Net Operating Income124,151 123,340 382,783 358,664 
Reconciliation to net income:
Depreciation and amortization(60,303)(60,850)(180,914)(189,514)
Impairments of real estate assets— (5,318)(1,778)(5,849)
General and administrative expenses(9,155)(11,717)(30,169)(33,658)
Interest expense(19,886)(20,527)(61,003)(59,622)
Other income/(loss)(3,311)174 (2,654)(3,271)
Gains on disposition of property10,012 3,515 163,397 10,218 
Equity in earnings of unconsolidated affiliates823 940 2,965 2,369 
Net income$42,331 $29,557 $272,627 $79,337 
v3.20.2
Description of Business and Significant Accounting Policies (Details)
ft² in Millions, $ in Millions
Sep. 30, 2020
USD ($)
ft²
a
shares
Description of Business [Abstract]  
Rentable square feet of commercial real estate properties (in sq feet) | ft² 27.9
Rentable square feet of commercial real estate office properties under development (in sq feet) | ft² 1.2
Undeveloped land suitable for future development (in acres) | a 225
Self insurance liability | $ $ 0.5
Deferred rents included in accounts receivable | $ $ 6.0
Highwoods Properties, Inc. [Member]  
Description of Business [Abstract]  
Common Units of partnership owned by the Company (in shares) 103,500,000
Percentage of ownership of Common Units (in hundredths) 97.30%
Issuance of Common Units in acquisition (in units) 118,592
Highwoods Realty Limited Partnership [Member]  
Description of Business [Abstract]  
Common Units of partnership not owned by the Company (in shares) 2,800,000
v3.20.2
Leases ASC 842 (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Lessor Disclosure [Abstract]        
Rental and other revenues related to operating lease payments $ 178.9 $ 184.2 $ 549.5 $ 534.2
Variable lease income $ 12.8 $ 17.3 $ 42.7 $ 49.2
Minimum [Member]        
Lessor Disclosure [Abstract]        
Operating leases, term of leases (in years) 3 years   3 years  
Maximum [Member]        
Lessor Disclosure [Abstract]        
Operating leases, term of leases (in years) 10 years   10 years  
v3.20.2
Consolidated Variable Interest Entity (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
USD ($)
ft²
Sep. 30, 2020
USD ($)
ft²
Consolidated Variable Interest Entity [Abstract]    
Rentable square feet of office property under development (in sq feet) | ft²   1,200,000
Assets and liabilities of consolidated variable interest entity [Abstract]    
Development in-process $ 172,706 $ 258,219
Accounts payable, accrued expenses and other liabilities $ 286,911 299,587
Consolidated Variable Interest Entity [Member]    
Consolidated Variable Interest Entity [Abstract]    
Rentable square feet of office property under development (in sq feet) | ft² 150,000  
Total anticipated development costs $ 71,300  
Contribution of cash to acquire interest in consolidated joint venture $ 20,000  
Interest in consolidated joint venture (in hundredths) 80.00%  
Partner's contribution of property to acquire interest in consolidated joint venture $ 5,000  
Advance to consolidated affiliate $ 46,300  
Amount of loan funded to affiliate   13,700
Assets and liabilities of consolidated variable interest entity [Abstract]    
Development in-process   42,015
Accounts payable, accrued expenses and other liabilities   $ 2,706
Consolidated Variable Interest Entity [Member] | London Interbank Offered Rate (LIBOR) [Member]    
Consolidated Variable Interest Entity [Abstract]    
Variable interest rate basis LIBOR  
Interest rate, basis spread (in hundredths) 2.50%  
Variable Interest Entity [Member]    
Consolidated Variable Interest Entity [Abstract]    
Partner's interest in consolidated joint venture (in hundredths)   20.00%
Variable Interest Entity [Member] | Consolidated Variable Interest Entity [Member]    
Consolidated Variable Interest Entity [Abstract]    
Partner's interest in consolidated joint venture (in hundredths) 20.00%  
v3.20.2
Real Estate Assets (Details)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2020
USD ($)
propertyUnit
Jun. 30, 2020
USD ($)
Mar. 31, 2020
USD ($)
propertyUnit
shares
Sep. 30, 2019
USD ($)
Sep. 30, 2020
USD ($)
propertyUnit
Sep. 30, 2019
USD ($)
Dispositions [Abstract]            
Gain/(loss) on disposition of property $ 10,012     $ 3,515 $ 163,397 $ 10,218
Impairments [Abstract]            
Impairments of real estate assets $ 0     $ 5,318 $ 1,778 $ 5,849
Raleigh NC Land Acquisition [Member]            
Acquisitions [Abstract]            
Acquisition purchase price   $ 2,300        
Nashville TN Land Acquisition [Member]            
Acquisitions [Abstract]            
Acquisition purchase price     $ 6,200      
Issuance of Common Units in acquisition (in units) | shares     118,592      
2020 Dispositions [Member]            
Dispositions [Abstract]            
Number of buildings sold | propertyUnit 2   41   2  
Purchase price of real estate $ 23,300 2,800 $ 338,400      
Closing credits excluded for unfunded building and/or tenant improvements     3,800      
Gain/(loss) on disposition of property 9,400 (100) $ 153,100      
1st Quarter Disposition of Property [Member]            
Dispositions [Abstract]            
Gain/(loss) on disposition of property $ 600          
2016 Land Disposition [Member]            
Dispositions [Abstract]            
Gain/(loss) on disposition of property   400        
2020 Impairments [Member]            
Impairments [Abstract]            
Impairments of real estate assets   $ 1,800        
v3.20.2
Intangible Assets and Below Market Lease Liabilities (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
Assets:          
Deferred leasing costs (including lease incentives and above market lease and in-place lease acquisition-related intangible assets) $ 369,374   $ 369,374   $ 377,472
Deferred leasing costs, accumulated amortization (153,045)   (153,045)   (146,125)
Deferred leasing costs, net/Total scheduled future amortization of intangible assets 216,329   216,329   231,347
Liabilities (in accounts payable, accrued expenses and other liabilities):          
Acquisition-related below market lease liabilities, gross 64,569   64,569   65,971
Acquisition-related below market lease liabilities, accumulated amortization (37,173)   (37,173)   (34,014)
Acquisition-related below market lease liabilities, net 27,396   27,396   $ 31,957
Deferred Leasing Costs and Acquisition-Related Intangible Assets (in Depreciation and Amortization) [Member]          
Assets:          
Deferred leasing costs, net/Total scheduled future amortization of intangible assets 200,123   200,123    
Amortization of intangible assets and below market lease liabilities [Abstract]          
Amortization of intangible assets 8,466 $ 9,003 25,830 $ 28,077  
Lease Incentives (in Rental and Other Revenues) [Member]          
Assets:          
Deferred leasing costs, net/Total scheduled future amortization of intangible assets 11,569   11,569    
Amortization of intangible assets and below market lease liabilities [Abstract]          
Amortization of intangible assets 477 540 1,396 3,848  
Acquisition-Related Intangible Assets (in Rental and Other Revenues) [Member]          
Assets:          
Deferred leasing costs, net/Total scheduled future amortization of intangible assets 4,544   4,544    
Amortization of intangible assets and below market lease liabilities [Abstract]          
Amortization of intangible assets 273 305 882 1,005  
Acquisition-Related Intangible Assets (in Rental Property and Other Expenses) [Member]          
Assets:          
Deferred leasing costs, net/Total scheduled future amortization of intangible assets 93   93    
Amortization of intangible assets and below market lease liabilities [Abstract]          
Amortization of intangible assets 140 140 417 416  
Acquisition-Related Below Market Lease Liabilities (in Rental and Other Revenues) [Member]          
Liabilities (in accounts payable, accrued expenses and other liabilities):          
Acquisition-related below market lease liabilities, net 27,396   27,396    
Amortization of intangible assets and below market lease liabilities [Abstract]          
Amortization of acquisition-related below market lease liabilities $ (1,479) $ (1,656) $ (4,562) $ (5,072)  
v3.20.2
Intangible Assets and Below Market Lease Liabilities - Scheduled Future Amortization (Details) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2020
Dec. 31, 2019
Scheduled future amortization of intangible assets [Abstract]    
Deferred leasing costs, net/Total scheduled future amortization of intangible assets $ 216,329 $ 231,347
Scheduled future amortization of below market lease liabilities [Abstract]    
Total scheduled future amortization of acquisition-related below market lease liabilities (27,396) $ (31,957)
Deferred Leasing Costs and Acquisition-Related Intangible Assets (in Depreciation and Amortization) [Member]    
Scheduled future amortization of intangible assets [Abstract]    
October 1 through December 31, 2020 9,338  
2021 34,011  
2022 29,936  
2023 26,470  
2024 23,322  
Thereafter 77,046  
Deferred leasing costs, net/Total scheduled future amortization of intangible assets $ 200,123  
Weighted average remaining amortization periods for intangible assets and below market lease liabilities [Abstract]    
Finite-lived intangible assets, average useful life (in years) 8 years 3 months 18 days  
Lease Incentives (in Rental and Other Revenues) [Member]    
Scheduled future amortization of intangible assets [Abstract]    
October 1 through December 31, 2020 $ 460  
2021 1,601  
2022 1,392  
2023 1,315  
2024 1,170  
Thereafter 5,631  
Deferred leasing costs, net/Total scheduled future amortization of intangible assets $ 11,569  
Weighted average remaining amortization periods for intangible assets and below market lease liabilities [Abstract]    
Finite-lived intangible assets, average useful life (in years) 9 years 6 months  
Acquisition-Related Intangible Assets (in Rental and Other Revenues) [Member]    
Scheduled future amortization of intangible assets [Abstract]    
October 1 through December 31, 2020 $ 244  
2021 718  
2022 601  
2023 447  
2024 373  
Thereafter 2,161  
Deferred leasing costs, net/Total scheduled future amortization of intangible assets $ 4,544  
Weighted average remaining amortization periods for intangible assets and below market lease liabilities [Abstract]    
Finite-lived intangible assets, average useful life (in years) 9 years 8 months 12 days  
Acquisition-Related Intangible Assets (in Rental Property and Other Expenses) [Member]    
Scheduled future amortization of intangible assets [Abstract]    
October 1 through December 31, 2020 $ 93  
2021 0  
2022 0  
2023 0  
2024 0  
Thereafter 0  
Deferred leasing costs, net/Total scheduled future amortization of intangible assets $ 93  
Weighted average remaining amortization periods for intangible assets and below market lease liabilities [Abstract]    
Finite-lived intangible assets, average useful life (in years) 2 months 12 days  
Acquisition-Related Below Market Lease Liabilities (in Rental and Other Revenues) [Member]    
Scheduled future amortization of below market lease liabilities [Abstract]    
October 1 through December 31, 2020 $ (1,395)  
2021 (5,013)  
2022 (3,982)  
2023 (3,607)  
2024 (2,939)  
Thereafter (10,460)  
Total scheduled future amortization of acquisition-related below market lease liabilities $ (27,396)  
Weighted average remaining amortization periods for intangible assets and below market lease liabilities [Abstract]    
Finite-lived below market lease liabilities, average useful life (in years) 8 years 7 months 6 days  
v3.20.2
Mortgages and Notes Payable (Details)
 3 Months Ended 9 Months Ended
Sep. 30, 2020
USD ($)
Sep. 30, 2020
USD ($)
extension
Sep. 30, 2019
USD ($)
Oct. 20, 2020
USD ($)
Dec. 31, 2019
USD ($)
Debt Instrument [Line Items]          
Mortgages and notes payable $ 2,469,554,000 $ 2,469,554,000     $ 2,543,710,000
Unamortized debt issuance costs (14,533,000) (14,533,000)     (13,018,000)
Aggregate losses on debt extinguishment (3,700,000) $ (3,671,000) $ (640,000)    
Maximum liquidity requirements (in years)   1 year      
Revolving Credit Facility [Member]          
Debt Instrument [Line Items]          
Maximum borrowing capacity on revolving credit facility 600,000,000.0 $ 600,000,000.0      
Additional borrowing capacity on revolving credit facility 400,000,000.0 $ 400,000,000.0      
Number of additional extensions | extension   2      
Term of optional extension   6 months      
Amount outstanding on revolving credit facility 0 $ 0      
Outstanding letters of credit on revolving credit facility 100,000 100,000      
Unused borrowing capacity on revolving credit facility 599,900,000 599,900,000      
2.600% (2.645% Effective Rate) Notes Due 2031 [Member]          
Debt Instrument [Line Items]          
Principal amount of debt $ 400,000,000.0 $ 400,000,000.0      
Stated interest rate (in hundredths) 2.60% 2.60%      
Original issuance discount $ 1,600,000 $ 1,600,000      
Effective interest rate, yield to maturity (in hundredths) 2.645% 2.645%      
Deferred financing fees $ 3,400,000 $ 3,400,000      
3.20% (3.363% effective rate) Notes due 2021 [Member]          
Debt Instrument [Line Items]          
Principal amount of debt $ 150,000,000.0 $ 150,000,000.0      
Stated interest rate (in hundredths) 3.20% 3.20%      
Purchase price of debt (in hundredths) 101.908% 101.908%      
Early repayment of debt $ 150,000,000.0        
Variable Rate Term Loan Due 2022 [Member]          
Debt Instrument [Line Items]          
Early repayment of debt 100,000,000.0        
Secured indebtedness [Member]          
Debt Instrument [Line Items]          
Mortgages and notes payable 93,846,000 $ 93,846,000     95,303,000
Aggregate undepreciated book value of secured real estate assets 147,600,000 147,600,000      
Unsecured indebtedness [Member]          
Debt Instrument [Line Items]          
Mortgages and notes payable $ 2,390,241,000 $ 2,390,241,000     $ 2,461,425,000
London Interbank Offered Rate (LIBOR) [Member] | Revolving Credit Facility [Member]          
Debt Instrument [Line Items]          
Facility interest rate basis   LIBOR      
Interest rate, basis spread (in hundredths)   1.00%      
Annual facility fee (in hundredths)   0.20%      
London Interbank Offered Rate (LIBOR) [Member] | Variable Rate Term Loan Due 2022 [Member]          
Debt Instrument [Line Items]          
Facility interest rate basis LIBOR        
Interest rate, basis spread (in hundredths) 1.10%        
Subsequent Event [Member] | Revolving Credit Facility [Member]          
Debt Instrument [Line Items]          
Amount outstanding on revolving credit facility       $ 0  
Outstanding letters of credit on revolving credit facility       100,000  
Unused borrowing capacity on revolving credit facility       $ 599,900,000  
v3.20.2
Derivative Financial Instruments (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]          
Expected net increase to interest expense $ 500   $ 500    
Derivatives designated as cash flow hedges in accounts payable, accrued expenses and other liabilities:          
Interest rate swaps 1,036   1,036   $ 154
Amount of unrealized gains/(losses) recognized in accumulated other comprehensive income/(loss) on derivatives:          
Interest rate swaps 5 $ (6,732) (1,231) $ (9,282)  
Amount of (gains)/losses reclassified out of accumulated other comprehensive income/(loss) into interest expense:          
Interest rate swaps $ 122 $ (283) $ 125 $ (1,158)  
v3.20.2
Noncontrolling Interests (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Noncontrolling Interests in the Operating Partnership [Roll Forward]        
Beginning noncontrolling interests in the Operating Partnership     $ 133,216  
Adjustment of noncontrolling interests in the Operating Partnership to fair value $ (10,430) $ 10,493 (46,955) $ 19,025
Conversions of Common Units to Common Stock   (219) 0 (572)
Net income attributable to noncontrolling interests in the Operating Partnership 1,107 737 7,084 1,974
Distributions to noncontrolling interests in the Operating Partnership     (4,092) (3,894)
Total noncontrolling interests in the Operating Partnership 95,416   95,416  
Net Income Available for Common Stockholders and Transfers From Noncontrolling Interests in the Operating Partnership [Abstract]        
Net income available for common stockholders 40,304 27,901 262,805 74,578
Highwoods Properties, Inc. [Member]        
Noncontrolling Interests in the Operating Partnership [Roll Forward]        
Beginning noncontrolling interests in the Operating Partnership 106,103 112,778 133,216 105,960
Adjustment of noncontrolling interests in the Operating Partnership to fair value (10,430) 10,493 (46,955) 19,025
Issuances of Common Units 0 0 6,163 0
Conversions of Common Units to Common Stock 0 (219) 0 (572)
Net income attributable to noncontrolling interests in the Operating Partnership 1,107 737 7,084 1,974
Distributions to noncontrolling interests in the Operating Partnership (1,364) (1,296) (4,092) (3,894)
Total noncontrolling interests in the Operating Partnership 95,416 122,493 95,416 122,493
Net Income Available for Common Stockholders and Transfers From Noncontrolling Interests in the Operating Partnership [Abstract]        
Net income available for common stockholders 40,304 27,901 262,805 74,578
Increase in additional paid in capital from conversions of Common Units to Common Stock 0 219 0 572
Issuances of Common Units 0 0 (6,163) 0
Change from net income available for common stockholders and transfers from noncontrolling interests $ 40,304 $ 28,120 $ 256,642 $ 75,150
Richmond Joint Venture [Member]        
Noncontrolling Interests in Consolidated Affiliates [Abstract]        
Consolidated joint venture, partner's interest (in hundredths) 50.00%   50.00%  
Tampa Joint Venture [Member]        
Noncontrolling Interests in Consolidated Affiliates [Abstract]        
Consolidated joint venture, partner's interest (in hundredths) 20.00%   20.00%  
v3.20.2
Disclosure About Fair Value of Financial Instruments - Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis (Details) - USD ($)
$ in Thousands
Sep. 30, 2020
Jun. 30, 2020
Dec. 31, 2019
Assets:      
Mortgages and notes receivable, at fair value $ 1,390   $ 1,501
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets) 2,259   2,345
Total Assets 3,649   3,846
Liabilities:      
Mortgages and notes payable, net, at fair value 2,601,035   2,615,776
Interest rate swaps (in accounts payable, accrued expenses and other liabilities) 1,036   154
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities) 2,259   2,345
Total Liabilities 2,604,330   2,618,275
Impaired real estate assets   $ 2,100  
Level 1 [Member]      
Assets:      
Mortgages and notes receivable, at fair value 0   0
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets) 2,259   2,345
Total Assets 2,259   2,345
Liabilities:      
Mortgages and notes payable, net, at fair value 0   0
Interest rate swaps (in accounts payable, accrued expenses and other liabilities) 0   0
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities) 2,259   2,345
Total Liabilities 2,259   2,345
Level 2 [Member]      
Assets:      
Mortgages and notes receivable, at fair value 1,390   1,501
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets) 0   0
Total Assets 1,390   1,501
Liabilities:      
Mortgages and notes payable, net, at fair value 2,601,035   2,615,776
Interest rate swaps (in accounts payable, accrued expenses and other liabilities) 1,036   154
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities) 0   0
Total Liabilities 2,602,071   2,615,930
Highwoods Properties, Inc. [Member]      
Assets:      
Noncontrolling Interests in the Operating Partnership 95,416   133,216
Highwoods Properties, Inc. [Member] | Level 1 [Member]      
Assets:      
Noncontrolling Interests in the Operating Partnership 95,416   133,216
Highwoods Properties, Inc. [Member] | Level 2 [Member]      
Assets:      
Noncontrolling Interests in the Operating Partnership $ 0   $ 0
v3.20.2
Share-Based Payments (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share-based compensation expense $ 1,200 $ 700 $ 4,980 $ 6,180
Total unrecognized share-based compensation costs $ 6,500   $ 6,500  
Weighted average remaining contractual term for recognition of unrecognized share-based compensation costs (in years)     2 years  
Highwoods Properties, Inc. [Member] | Time-Based Restricted Stock [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Restricted stock shares granted (in shares)     83,116  
Weighted average grant date fair value of each restricted stock share granted (in dollars per share)     $ 44.88  
Highwoods Properties, Inc. [Member] | Total Return-Based Restricted Stock [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Restricted stock shares granted (in shares)     66,188  
Weighted average grant date fair value of each restricted stock share granted (in dollars per share)     $ 38.31  
v3.20.2
Accumulated Other Comprehensive Income/(Loss) (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Accumulated Other Comprehensive Income/(Loss) Calculation [Roll Forward]        
Beginning balance $ (1,704) $ 6,488 $ (471) $ 9,913
Unrealized gains/(losses) on cash flow hedges 5 (6,732) (1,231) (9,282)
Amortization of cash flow hedges 122 (283) 125 (1,158)
Total accumulated other comprehensive loss $ (1,577) $ (527) $ (1,577) $ (527)
v3.20.2
Real Estate and Other Assets Held For Sale (Details) - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
Real Estate and Other Assets Held For Sale [Abstract]    
Land $ 18,645 $ 4,815
Buildings and tenant improvements 72,869 29,581
Less-accumulated depreciation (22,139) (16,775)
Net real estate assets 69,375 17,621
Accrued straight-line rents receivable 1,512 2,073
Deferred leasing costs, net 1,842 1,096
Real estate and other assets, net, held for sale $ 72,729 $ 20,790
v3.20.2
Earnings Per Share and Per Unit (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Earnings per Common Share and Per Unit - basic: [Abstract]        
Net income $ 42,331 $ 29,557 $ 272,627 $ 79,337
Net (income) attributable to noncontrolling interests in the Operating Partnership from continuing operations (1,107) (737) (7,084) (1,974)
Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations (298) (297) (872) (919)
Dividends on Preferred Stock (622) (622) (1,866) (1,866)
Net income available for common stockholders $ 40,304 $ 27,901 $ 262,805 $ 74,578
Denominator:        
Denominator for basic earnings per Common Share - weighted average shares (in shares) 103,896 103,727 103,865 103,674
Earnings per Common Share - basic:        
Net income available for common stockholders (in dollars per share) $ 0.39 $ 0.27 $ 2.53 $ 0.72
Earnings per Common Share and Per Unit - diluted: [Abstract]        
Net income $ 42,331 $ 29,557 $ 272,627 $ 79,337
Net (income) attributable to noncontrolling interests in consolidated affiliates (298) (297) (872) (919)
Dividends on Preferred Stock (622) (622) (1,866) (1,866)
Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership $ 41,411 $ 28,638 $ 269,889 $ 76,552
Denominator:        
Denominator for basic earnings per Common Share - weighted average shares (in shares) 103,896 103,727 103,865 103,674
Stock options using the treasury method (in shares) 2 16 10 18
Noncontrolling interests Common Units (in shares) 2,842 2,728 2,827 2,733
Denominator for diluted earnings per Common Share - adjusted weighted average shares and assumed conversions (in shares) 106,740 106,471 106,702 106,425
Earnings per Common Share - diluted:        
Net income available for common stockholders (in dollars per share) $ 0.39 $ 0.27 $ 2.53 $ 0.72
Highwoods Realty Limited Partnership [Member]        
Earnings per Common Share and Per Unit - basic: [Abstract]        
Net income $ 42,331 $ 29,557 $ 272,627 $ 79,337
Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations (298) (297) (872) (919)
Distributions on Preferred Units (622) (622) (1,866) (1,866)
Net income available for common unitholders $ 41,411 $ 28,638 $ 269,889 $ 76,552
Denominator:        
Denominator for basic earnings per Common Unit - weighted average units (in shares) 106,329 106,046 106,283 105,998
Earnings per Common Unit - basic:        
Net income available for common unitholders (in dollars per share) $ 0.39 $ 0.27 $ 2.54 $ 0.72
Earnings per Common Share and Per Unit - diluted: [Abstract]        
Net income $ 42,331 $ 29,557 $ 272,627 $ 79,337
Net (income) attributable to noncontrolling interests in consolidated affiliates (298) (297) (872) (919)
Distributions on Preferred Units (622) (622) (1,866) (1,866)
Net income available for common unitholders $ 41,411 $ 28,638 $ 269,889 $ 76,552
Denominator:        
Denominator for basic earnings per Common Unit - weighted average units (in shares) 106,329 106,046 106,283 105,998
Stock options using the treasury method (in shares) 2 16 10 18
Denominator for diluted earnings per Common Unit - adjusted weighted average units and assumed conversions (in shares) 106,331 106,062 106,293 106,016
Earnings per Common Unit - diluted:        
Net income available for common unitholders (in dollars per share) $ 0.39 $ 0.27 $ 2.54 $ 0.72
v3.20.2
Segment Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues $ 181,043 $ 187,475 $ 556,996 $ 543,908
Total Net Operating Income 124,151 123,340 382,783 358,664
Reconciliation to net income:        
Depreciation and amortization (60,303) (60,850) (180,914) (189,514)
Impairments of real estate assets 0 (5,318) (1,778) (5,849)
General and administrative expenses (9,155) (11,717) (30,169) (33,658)
Interest expense (19,886) (20,527) (61,003) (59,622)
Other income/(loss) (3,311) 174 (2,654) (3,271)
Gains on disposition of property 10,012 3,515 163,397 10,218
Equity in earnings of unconsolidated affiliates 823 940 2,965 2,369
Net income 42,331 29,557 272,627 79,337
Total Office Segment [Member]        
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues 173,979 168,703 528,938 487,907
Total Net Operating Income 119,807 111,344 365,904 322,539
Office Atlanta, GA [Member]        
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues 36,022 39,120 110,518 113,115
Total Net Operating Income 23,303 24,372 72,387 72,614
Office Charlotte, NC [Member]        
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues 8,858 0 26,801 0
Total Net Operating Income 6,973 0 21,298 0
Office Nashville, TN [Member]        
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues 34,661 34,748 103,780 99,256
Total Net Operating Income 25,022 25,191 74,907 71,717
Office Orlando, FL [Member]        
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues 11,518 12,854 36,844 39,781
Total Net Operating Income 6,505 7,889 22,260 24,452
Office Pittsburgh, PA [Member]        
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues 14,430 15,154 44,054 45,463
Total Net Operating Income 8,934 9,150 26,954 27,179
Office Raleigh, NC [Member]        
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues 32,037 30,688 95,792 90,458
Total Net Operating Income 24,037 22,066 71,670 65,363
Office Richmond, VA [Member]        
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues 11,878 12,576 35,972 37,203
Total Net Operating Income 8,204 8,337 25,403 25,499
Office Tampa, FL [Member]        
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues 24,575 23,563 75,177 62,631
Total Net Operating Income 16,829 14,339 51,025 35,715
Other [Member]        
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues 7,064 18,772 28,058 56,001
Total Net Operating Income $ 4,344 $ 11,996 $ 16,879 $ 36,125
v3.20.2
Subsequent Events (Details)
$ / shares in Units, $ in Thousands
 3 Months Ended 9 Months Ended
Oct. 15, 2020
$ / shares
Oct. 01, 2020
USD ($)
Sep. 30, 2020
USD ($)
propertyUnit
$ / shares
Jun. 30, 2020
USD ($)
Mar. 31, 2020
USD ($)
propertyUnit
Sep. 30, 2019
USD ($)
$ / shares
Sep. 30, 2020
USD ($)
propertyUnit
$ / shares
Sep. 30, 2019
USD ($)
$ / shares
Subsequent Event [Line Items]                
Gains on disposition of property     $ 10,012     $ 3,515 $ 163,397 $ 10,218
2020 Dispositions [Member]                
Subsequent Event [Line Items]                
Purchase price of real estate     23,300 $ 2,800 $ 338,400      
Gains on disposition of property     $ 9,400 $ (100) $ 153,100      
Number of buildings sold | propertyUnit     2   41   2  
2020 Dispositions [Member] | Subsequent Event [Member]                
Subsequent Event [Line Items]                
Purchase price of real estate   $ 4,600            
Gains on disposition of property   $ 1,300            
Highwoods Properties, Inc. [Member]                
Subsequent Event [Line Items]                
Dividends on Common Stock (per share) | $ / shares     $ 0.48     $ 0.475 $ 1.44 $ 1.425
Highwoods Properties, Inc. [Member] | Subsequent Event [Member]                
Subsequent Event [Line Items]                
Dividends on Common Stock (per share) | $ / shares $ 0.48