HIGHWOODS PROPERTIES, INC., 10-Q filed on 4/26/2022
Quarterly Report
v3.22.1
Cover Page - shares
 3 Months Ended
Mar. 31, 2022
Apr. 19, 2022
Entity Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2022  
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, $.01 par value, of Highwoods Properties, Inc.  
Trading Symbol HIW  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   105,153,984
Entity Central Index Key 0000921082  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2022  
Document Fiscal Period Focus Q1  
Amendment Flag false  
Highwoods Realty Limited Partnership [Member]    
Entity Information [Line Items]    
Entity Registrant Name HIGHWOODS REALTY LIMITED PARTNERSHIP  
Entity Incorporation, State or Country Code NC  
Entity File Number 000-21731  
Entity Tax Identification Number 56-1869557  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Non-accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Central Index Key 0000941713  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2022  
Document Fiscal Period Focus Q1  
Amendment Flag false  
v3.22.1
HPI - Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Real estate assets, at cost:    
Land $ 548,190 $ 549,228
Buildings and tenant improvements 5,735,759 5,718,169
Development in-process 11,928 6,890
Land held for development 211,512 215,257
Total real estate assets 6,507,389 6,489,544
Less-accumulated depreciation (1,502,901) (1,457,511)
Net real estate assets 5,004,488 5,032,033
Real estate and other assets, net, held for sale 6,031 3,518
Cash and cash equivalents 18,669 23,152
Restricted cash 14,070 8,046
Accounts receivable 17,888 14,002
Mortgages and notes receivable 1,203 1,227
Accrued straight-line rents receivable 275,133 268,324
Investments in and advances to unconsolidated affiliates 14,275 7,383
Deferred leasing costs, net of accumulated amortization of $149,486 and $143,111, respectively 252,207 258,902
Prepaid expenses and other assets, net of accumulated depreciation of $19,515 and $21,408, respectively 81,153 78,551
Total Assets 5,685,117 5,695,138
Liabilities, Noncontrolling Interests in the Operating Partnership and Equity:    
Mortgages and notes payable, net 2,827,898 2,788,915
Accounts payable, accrued expenses and other liabilities 250,128 294,976
Total Liabilities 3,078,026 3,083,891
Commitments and contingencies
Noncontrolling interests in the Operating Partnership 114,570 111,689
Equity:    
Preferred Stock, $.01 par value, 50,000,000 authorized shares; 8.625% Series A Cumulative Redeemable Preferred Shares (liquidation preference $1,000 per share), 28,821 shares issued and outstanding 28,821 28,821
Common Stock, $.01 par value, 200,000,000 authorized shares; 105,143,984 and 104,892,780 shares issued and outstanding, respectively 1,051 1,049
Additional paid-in capital 3,034,155 3,027,861
Distributions in excess of net income available for common stockholders (591,780) (579,616)
Accumulated other comprehensive loss (988) (973)
Total Stockholders’ Equity 2,471,259 2,477,142
Noncontrolling interests in consolidated affiliates 21,262 22,416
Total Equity/Capital 2,492,521 2,499,558
Total Liabilities, Noncontrolling Interests in the Operating Partnership and Equity/Total Liabilities, Redeemable Operating Partnership Units and Capital $ 5,685,117 $ 5,695,138
v3.22.1
HPI - Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2022
Dec. 31, 2021
Assets:    
Deferred leasing costs, accumulated amortization $ 149,486 $ 143,111
Prepaid Expenses And Other Assets Accumulated Depreciation $ 19,515 $ 21,408
Equity:    
Series A Preferred Stock, par value (in dollars per share) $ 0.01 $ 0.01
Series A Preferred Stock, authorized shares (in shares) 50,000,000 50,000,000
Series A Preferred Stock, dividend rate percentage (in hundredths) 8.625% 8.625%
Series A Preferred Stock, liquidation preference (in dollars per share) $ 1,000 $ 1,000
Series A Preferred Stock, shares issued (in shares) 28,821 28,821
Series A Preferred Stock, shares outstanding (in shares) 28,821 28,821
Common Stock, par value (in dollars per share) $ 0.01 $ 0.01
Common Stock, authorized shares (in shares) 200,000,000 200,000,000
Common Stock, shares issued (in shares) 105,143,984 104,892,780
Common Stock, shares outstanding (in shares) 105,143,984 104,892,780
v3.22.1
HRLP - Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Real estate assets, at cost:    
Land $ 548,190 $ 549,228
Buildings and tenant improvements 5,735,759 5,718,169
Development in-process 11,928 6,890
Land held for development 211,512 215,257
Total real estate assets 6,507,389 6,489,544
Less-accumulated depreciation (1,502,901) (1,457,511)
Net real estate assets 5,004,488 5,032,033
Real estate and other assets, net, held for sale 6,031 3,518
Cash and cash equivalents 18,669 23,152
Restricted cash 14,070 8,046
Accounts receivable 17,888 14,002
Mortgages and notes receivable 1,203 1,227
Accrued straight-line rents receivable 275,133 268,324
Investments in and advances to unconsolidated affiliates 14,275 7,383
Deferred leasing costs, net of accumulated amortization of $149,486 and $143,111, respectively 252,207 258,902
Prepaid expenses and other assets, net of accumulated depreciation of $19,515 and $21,408, respectively 81,153 78,551
Total Assets 5,685,117 5,695,138
Liabilities, Redeemable Operating Partnership Units and Capital:    
Mortgages and notes payable, net 2,827,898 2,788,915
Accounts payable, accrued expenses and other liabilities 250,128 294,976
Total Liabilities 3,078,026 3,083,891
Commitments and contingencies
Capital:    
Accumulated other comprehensive loss (988) (973)
Noncontrolling interests in consolidated affiliates 21,262 22,416
Total Equity/Capital 2,492,521 2,499,558
Total Liabilities, Noncontrolling Interests in the Operating Partnership and Equity/Total Liabilities, Redeemable Operating Partnership Units and Capital 5,685,117 5,695,138
Highwoods Realty Limited Partnership [Member]    
Real estate assets, at cost:    
Land 548,190 549,228
Buildings and tenant improvements 5,735,759 5,718,169
Development in-process 11,928 6,890
Land held for development 211,512 215,257
Total real estate assets 6,507,389 6,489,544
Less-accumulated depreciation (1,502,901) (1,457,511)
Net real estate assets 5,004,488 5,032,033
Real estate and other assets, net, held for sale 6,031 3,518
Cash and cash equivalents 18,669 23,152
Restricted cash 14,070 8,046
Accounts receivable 17,888 14,002
Mortgages and notes receivable 1,203 1,227
Accrued straight-line rents receivable 275,133 268,324
Investments in and advances to unconsolidated affiliates 14,275 7,383
Deferred leasing costs, net of accumulated amortization of $149,486 and $143,111, respectively 252,207 258,902
Prepaid expenses and other assets, net of accumulated depreciation of $19,515 and $21,408, respectively 81,153 78,551
Total Assets 5,685,117 5,695,138
Liabilities, Redeemable Operating Partnership Units and Capital:    
Mortgages and notes payable, net 2,827,898 2,788,915
Accounts payable, accrued expenses and other liabilities 250,128 294,976
Total Liabilities 3,078,026 3,083,891
Commitments and contingencies
Redeemable Operating Partnership Units:    
Common Units, 2,504,805 outstanding 114,570 111,689
Series A Preferred Units (liquidation preference $1,000 per unit), 28,821 units issued and outstanding 28,821 28,821
Total Redeemable Operating Partnership Units 143,391 140,510
Capital:    
General partner Common Units, 1,072,400 and 1,069,888 outstanding, respectively 24,433 24,492
Limited partner Common Units, 103,662,775 and 103,414,083 outstanding, respectively 2,418,993 2,424,802
Accumulated other comprehensive loss (988) (973)
Noncontrolling interests in consolidated affiliates 21,262 22,416
Total Equity/Capital 2,463,700 2,470,737
Total Liabilities, Noncontrolling Interests in the Operating Partnership and Equity/Total Liabilities, Redeemable Operating Partnership Units and Capital $ 5,685,117 $ 5,695,138
v3.22.1
HRLP - Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Assets:    
Deferred leasing costs, accumulated amortization $ 149,486 $ 143,111
Prepaid Expenses And Other Assets Accumulated Depreciation 19,515 21,408
Highwoods Realty Limited Partnership [Member]    
Assets:    
Deferred leasing costs, accumulated amortization 149,486 143,111
Prepaid Expenses And Other Assets Accumulated Depreciation $ 19,515 $ 21,408
Redeemable Operating Partnership Units: [Abstract]    
Redeemable Common Units outstanding (in shares) 2,504,805 2,504,805
Series A Preferred Units, liquidation preference (in dollars per share) $ 1,000 $ 1,000
Series A Preferred Units, issued (in shares) 28,821 28,821
Series A Preferred Units, outstanding (in shares) 28,821 28,821
Common Units: [Abstract]    
General partners' capital account, units outstanding (in shares) 1,072,400 1,069,888
Limited partners' capital account, units outstanding (in shares) 103,662,775 103,414,083
v3.22.1
HPI - Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Income Statement [Abstract]    
Rental and other revenues $ 206,378 $ 183,805
Operating expenses:    
Rental property and other expenses 61,422 56,189
Depreciation and amortization 69,667 60,927
General and administrative 13,556 9,952
Total operating expenses 144,645 127,068
Interest expense 24,393 19,768
Other income 363 312
Gains on disposition of property 4,100 18,937
Equity in earnings of unconsolidated affiliates 300 637
Net income 42,103 56,855
Net (income) attributable to noncontrolling interests in the Operating Partnership (965) (1,493)
Net (income) attributable to noncontrolling interests in consolidated affiliates (257) (281)
Dividends on Preferred Stock (621) (622)
Net income available for common stockholders $ 40,260 $ 54,459
Earnings per Common Share – basic:    
Net income available for common stockholders (in dollars per share) $ 0.38 $ 0.52
Weighted average Common Shares outstanding - basic (in shares) 104,933 103,963
Earnings per Common Share - diluted:    
Net income available for common stockholders (in dollars per share) $ 0.38 $ 0.52
Weighted average Common Shares outstanding - diluted (in shares) 107,453 106,810
v3.22.1
HRLP - Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Rental and other revenues $ 206,378 $ 183,805
Operating expenses:    
Rental property and other expenses 61,422 56,189
Depreciation and amortization 69,667 60,927
General and administrative 13,556 9,952
Total operating expenses 144,645 127,068
Interest expense 24,393 19,768
Other income 363 312
Gains on disposition of property 4,100 18,937
Equity in earnings of unconsolidated affiliates 300 637
Net income 42,103 56,855
Net (income) attributable to noncontrolling interests in consolidated affiliates (257) (281)
Highwoods Realty Limited Partnership [Member]    
Rental and other revenues 206,378 183,805
Operating expenses:    
Rental property and other expenses 61,422 56,189
Depreciation and amortization 69,667 60,927
General and administrative 13,556 9,952
Total operating expenses 144,645 127,068
Interest expense 24,393 19,768
Other income 363 312
Gains on disposition of property 4,100 18,937
Equity in earnings of unconsolidated affiliates 300 637
Net income 42,103 56,855
Net (income) attributable to noncontrolling interests in consolidated affiliates (257) (281)
Distributions on Preferred Units (621) (622)
Net income available for common unitholders $ 41,225 $ 55,952
Earnings per Common Unit - basic:    
Net income available for common unitholders (in dollars per share) $ 0.39 $ 0.53
Weighted average Common Units outstanding - basic (in shares) 107,029 106,393
Earnings per Common Unit - diluted:    
Net income available for common unitholders (in dollars per share) $ 0.39 $ 0.53
Weighted average Common Units outstanding - diluted (in shares) 107,044 106,401
v3.22.1
HPI - Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Comprehensive income:    
Net income $ 42,103 $ 56,855
Other comprehensive income/(loss):    
Amortization of cash flow hedges (15) 122
Total other comprehensive income/(loss) (15) 122
Total comprehensive income 42,088 56,977
Less-comprehensive (income) attributable to noncontrolling interests (1,222) (1,774)
Comprehensive income attributable to common stockholders/Comprehensive income attributable to common unitholders $ 40,866 $ 55,203
v3.22.1
HRLP - Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Comprehensive income:    
Net income $ 42,103 $ 56,855
Other comprehensive income/(loss):    
Amortization of cash flow hedges (15) 122
Total other comprehensive income/(loss) (15) 122
Total comprehensive income 42,088 56,977
Less-comprehensive (income) attributable to noncontrolling interests (1,222) (1,774)
Comprehensive income attributable to common stockholders/Comprehensive income attributable to common unitholders 40,866 55,203
Highwoods Realty Limited Partnership [Member]    
Comprehensive income:    
Net income 42,103 56,855
Other comprehensive income/(loss):    
Amortization of cash flow hedges (15) 122
Total other comprehensive income/(loss) (15) 122
Total comprehensive income 42,088 56,977
Less-comprehensive (income) attributable to noncontrolling interests (257) (281)
Comprehensive income attributable to common stockholders/Comprehensive income attributable to common unitholders $ 41,831 $ 56,696
v3.22.1
HPI - Consolidated Statements of Equity - USD ($)
$ in Thousands
Total
Common Stock [Member]
Series A Cumulative Redeemable Preferred Shares [Member]
Additional Paid-in Capital [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Noncontrolling Interests in Consolidated Affiliates [Member]
Distributions in Excess of Net Income Available for Common Stockholders [Member]
Balance (in shares) at Dec. 31, 2020   103,921,546          
Balance at Dec. 31, 2020 $ 2,358,170 $ 1,039 $ 28,826 $ 2,993,946 $ (1,462) $ 22,046 $ (686,225)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuances of Common Stock, net of issuance costs and tax withholdings - shares   (49,058)          
Issuances of Common Stock, net of issuance costs and tax withholdings (1,198)     (1,198)      
Dividends on Common Stock (49,847)           (49,847)
Dividends on Preferred Stock (622)           (622)
Adjustment of noncontrolling interests in the Operating Partnership to fair value (9,266)     (9,266)      
Distributions to noncontrolling interests in consolidated affiliates (782)         (782)  
Issuances of restricted stock - shares   183,100          
Issuances of restricted stock 0            
Share-based compensation expense, net of forfeitures - shares   (436)          
Share-based compensation expense, net of forfeitures 2,982 $ 2   2,980      
Net (income) attributable to noncontrolling interests in the Operating Partnership (1,493)           (1,493)
Net (income) attributable to noncontrolling interests in consolidated affiliates 0         281 (281)
Comprehensive income:              
Net income 56,855           56,855
Other comprehensive income/(loss) 122       122    
Total comprehensive income 56,977            
Balance (in shares) at Mar. 31, 2021   104,055,152          
Balance at Mar. 31, 2021 $ 2,354,921 $ 1,041 28,826 2,986,462 (1,340) 21,545 (681,613)
Balance (in shares) at Dec. 31, 2021 104,892,780 104,892,780          
Balance at Dec. 31, 2021 $ 2,499,558 $ 1,049 28,821 3,027,861 (973) 22,416 (579,616)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuances of Common Stock, net of issuance costs and tax withholdings - shares   69,821          
Issuances of Common Stock, net of issuance costs and tax withholdings 4,173 $ 0   4,173      
Dividends on Common Stock (52,424)           (52,424)
Dividends on Preferred Stock (621)           (621)
Adjustment of noncontrolling interests in the Operating Partnership to fair value (3,168)     (3,168)      
Distributions to noncontrolling interests in consolidated affiliates (1,411)         (1,411)  
Issuances of restricted stock - shares   181,383          
Issuances of restricted stock 0            
Share-based compensation expense, net of forfeitures - shares   0          
Share-based compensation expense, net of forfeitures 5,291 $ 2   5,289      
Net (income) attributable to noncontrolling interests in the Operating Partnership (965)           (965)
Net (income) attributable to noncontrolling interests in consolidated affiliates 0         257 (257)
Comprehensive income:              
Net income 42,103           42,103
Other comprehensive income/(loss) (15)       (15)    
Total comprehensive income $ 42,088            
Balance (in shares) at Mar. 31, 2022 105,143,984 105,143,984          
Balance at Mar. 31, 2022 $ 2,492,521 $ 1,051 $ 28,821 $ 3,034,155 $ (988) $ 21,262 $ (591,780)
v3.22.1
HPI - Consolidated Statements of Equity (Parentheticals) - Highwoods Properties, Inc. [Member] - $ / shares
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dividends on Common Stock (per share) $ 0.50 $ 0.48
Series A Cumulative Redeemable Preferred Shares [Member]    
Dividends on Preferred Stock (per share) $ 21.5625 $ 21.5625
v3.22.1
HRLP - Consolidated Statements of Capital - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Increase (Decrease) in Partners' Capital [Roll Forward]    
Balance $ 2,499,558 $ 2,358,170
Share-based compensation expense, net of forfeitures 5,291 2,982
Distributions to noncontrolling interests in consolidated affiliates (1,411) (782)
Net (income) attributable to noncontrolling interests in consolidated affiliates 0 0
Comprehensive income:    
Net income 42,103 56,855
Other comprehensive income/(loss) (15) 122
Total comprehensive income 42,088 56,977
Balance 2,492,521 2,354,921
Highwoods Realty Limited Partnership [Member]    
Increase (Decrease) in Partners' Capital [Roll Forward]    
Balance 2,470,737 2,329,344
Issuances of Common Units, net of issuance costs and tax withholdings 4,173 (1,198)
Distributions on Common Units (53,471) (51,014)
Distributions on Preferred Units (621) (622)
Share-based compensation expense, net of forfeitures 5,291 2,982
Distributions to noncontrolling interests in consolidated affiliates (1,411) (782)
Adjustment of Redeemable Common Units to fair value and contributions/distributions from/to the General Partner (3,086) (9,592)
Net (income) attributable to noncontrolling interests in consolidated affiliates 0 0
Comprehensive income:    
Net income 42,103 56,855
Other comprehensive income/(loss) (15) 122
Total comprehensive income 42,088 56,977
Balance 2,463,700 2,326,095
General Partners' Common Units [Member] | Highwoods Realty Limited Partnership [Member]    
Increase (Decrease) in Partners' Capital [Roll Forward]    
Balance 24,492 23,087
Issuances of Common Units, net of issuance costs and tax withholdings 42 (12)
Distributions on Common Units (535) (510)
Distributions on Preferred Units (6) (6)
Share-based compensation expense, net of forfeitures 53 30
Adjustment of Redeemable Common Units to fair value and contributions/distributions from/to the General Partner (31) (96)
Net (income) attributable to noncontrolling interests in consolidated affiliates (3) (3)
Comprehensive income:    
Net income 421 569
Balance 24,433 23,059
Limited Partners' Common Units [Member] | Highwoods Realty Limited Partnership [Member]    
Increase (Decrease) in Partners' Capital [Roll Forward]    
Balance 2,424,802 2,285,673
Issuances of Common Units, net of issuance costs and tax withholdings 4,131 (1,186)
Distributions on Common Units (52,936) (50,504)
Distributions on Preferred Units (615) (616)
Share-based compensation expense, net of forfeitures 5,238 2,952
Adjustment of Redeemable Common Units to fair value and contributions/distributions from/to the General Partner (3,055) (9,496)
Net (income) attributable to noncontrolling interests in consolidated affiliates (254) (278)
Comprehensive income:    
Net income 41,682 56,286
Balance 2,418,993 2,282,831
Accumulated Other Comprehensive Income (Loss) [Member] | Highwoods Realty Limited Partnership [Member]    
Increase (Decrease) in Partners' Capital [Roll Forward]    
Balance (973) (1,462)
Comprehensive income:    
Other comprehensive income/(loss) (15) 122
Balance (988) (1,340)
Noncontrolling Interests in Consolidated Affiliates [Member] | Highwoods Realty Limited Partnership [Member]    
Increase (Decrease) in Partners' Capital [Roll Forward]    
Balance 22,416 22,046
Distributions to noncontrolling interests in consolidated affiliates (1,411) (782)
Net (income) attributable to noncontrolling interests in consolidated affiliates 257 281
Comprehensive income:    
Balance $ 21,262 $ 21,545
v3.22.1
HRLP - Consolidated Statements of Capital (Parentheticals) - Highwoods Realty Limited Partnership [Member] - $ / shares
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Distributions on Common Units (per unit) $ 0.50 $ 0.48
Series A Cumulative Redeemable Preferred Shares [Member]    
Distributions on Preferred Units (per unit) $ 21.5625 $ 21.5625
v3.22.1
HPI - Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities:    
Net income $ 42,103 $ 56,855
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 69,667 60,927
Amortization of lease incentives and acquisition-related intangible assets and liabilities (87) (704)
Share-based compensation expense 5,291 2,982
Net credit losses on operating lease receivables 366 237
Accrued interest on mortgages and notes receivable (24) (27)
Amortization of debt issuance costs 942 792
Amortization of cash flow hedges (15) 122
Amortization of mortgages and notes payable fair value adjustments (20) 411
Losses on debt extinguishment 0 76
Net gains on disposition of property (4,100) (18,937)
Equity in earnings of unconsolidated affiliates (300) (637)
Distributions of earnings from unconsolidated affiliates 591 395
Changes in operating assets and liabilities:    
Accounts receivable (1,038) 6,658
Prepaid expenses and other assets (4,529) (5,544)
Accrued straight-line rents receivable (7,224) (4,245)
Accounts payable, accrued expenses and other liabilities (27,545) (16,381)
Net cash provided by operating activities 74,078 82,980
Investing activities:    
Investments in development in-process (13,315) (19,789)
Investments in tenant improvements and deferred leasing costs (30,273) (22,939)
Investments in building improvements (15,413) (14,422)
Investment in acquired controlling interest in unconsolidated affiliate 0 (127,339)
Net proceeds from disposition of real estate assets 9,469 30,242
Investments in mortgages and notes receivable (24) 0
Repayments of mortgages and notes receivable 72 76
Investments in and advances to unconsolidated affiliates (7,378) 0
Changes in other investing activities (2,555) (746)
Net cash used in investing activities (59,417) (154,917)
Financing activities:    
Dividends on Common Stock (52,424) (49,847)
Dividends on Preferred Stock (621) (622)
Distributions to noncontrolling interests in the Operating Partnership (1,252) (1,363)
Distributions to noncontrolling interests in consolidated affiliates (1,411) (782)
Proceeds from the issuance of Common Stock 6,501 493
Costs paid for the issuance of Common Stock (183) (10)
Repurchase of shares related to tax withholdings (2,145) (1,681)
Borrowings on revolving credit facility 70,000 0
Repayments of revolving credit facility (30,000) 0
Repayments of mortgages and notes payable (1,585) (501)
Changes in debt issuance costs and other financing activities 0 (4,616)
Net cash used in financing activities (13,120) (58,929)
Net increase/(decrease) in cash and cash equivalents and restricted cash 1,541 (130,866)
Cash and cash equivalents and restricted cash at beginning of the period 31,198 189,244
Cash and cash equivalents and restricted cash at end of the period 32,739 58,378
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents at end of the period 18,669 49,279
Restricted cash at end of the period 14,070 9,099
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 34,380 27,646
Supplemental disclosure of non-cash investing and financing activities:    
Changes in accrued capital expenditures [1] (17,115) (454)
Write-off of fully depreciated real estate assets 12,183 15,468
Write-off of fully amortized leasing costs 6,150 12,848
Write-off of fully amortized debt issuance costs 0 2,983
Adjustment of noncontrolling interests in the Operating Partnership to fair value 3,168 9,266
Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities $ 37,500 $ 65,500
[1] Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities at March 31, 2022 and 2021 were $37.5 million and $65.5 million, respectively.
v3.22.1
HRLP - Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities:    
Net income $ 42,103 $ 56,855
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 69,667 60,927
Amortization of lease incentives and acquisition-related intangible assets and liabilities (87) (704)
Share-based compensation expense 5,291 2,982
Net credit losses on operating lease receivables 366 237
Accrued interest on mortgages and notes receivable (24) (27)
Amortization of debt issuance costs 942 792
Amortization of cash flow hedges (15) 122
Amortization of mortgages and notes payable fair value adjustments (20) 411
Losses on debt extinguishment 0 76
Net gains on disposition of property (4,100) (18,937)
Equity in earnings of unconsolidated affiliates (300) (637)
Distributions of earnings from unconsolidated affiliates 591 395
Changes in operating assets and liabilities:    
Accounts receivable (1,038) 6,658
Prepaid expenses and other assets (4,529) (5,544)
Accrued straight-line rents receivable (7,224) (4,245)
Accounts payable, accrued expenses and other liabilities (27,545) (16,381)
Net cash provided by operating activities 74,078 82,980
Investing activities:    
Investments in development in-process (13,315) (19,789)
Investments in tenant improvements and deferred leasing costs (30,273) (22,939)
Investments in building improvements (15,413) (14,422)
Investment in acquired controlling interest in unconsolidated affiliate 0 (127,339)
Net proceeds from disposition of real estate assets 9,469 30,242
Investments in mortgages and notes receivable (24) 0
Repayments of mortgages and notes receivable 72 76
Investments in and advances to unconsolidated affiliates (7,378) 0
Changes in other investing activities (2,555) (746)
Net cash used in investing activities (59,417) (154,917)
Financing activities:    
Distributions to noncontrolling interests in consolidated affiliates (1,411) (782)
Borrowings on revolving credit facility 70,000 0
Repayments of revolving credit facility (30,000) 0
Repayments of mortgages and notes payable (1,585) (501)
Changes in debt issuance costs and other financing activities 0 (4,616)
Net cash used in financing activities (13,120) (58,929)
Net increase/(decrease) in cash and cash equivalents and restricted cash 1,541 (130,866)
Cash and cash equivalents and restricted cash at beginning of the period 31,198 189,244
Cash and cash equivalents and restricted cash at end of the period 32,739 58,378
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents at end of the period 18,669 49,279
Restricted cash at end of the period 14,070 9,099
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 34,380 27,646
Supplemental disclosure of non-cash investing and financing activities:    
Changes in accrued capital expenditures [1] (17,115) (454)
Write-off of fully depreciated real estate assets 12,183 15,468
Write-off of fully amortized leasing costs 6,150 12,848
Write-off of fully amortized debt issuance costs 0 2,983
Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities 37,500 65,500
Highwoods Realty Limited Partnership [Member]    
Operating activities:    
Net income 42,103 56,855
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 69,667 60,927
Amortization of lease incentives and acquisition-related intangible assets and liabilities (87) (704)
Share-based compensation expense 5,291 2,982
Net credit losses on operating lease receivables 366 237
Accrued interest on mortgages and notes receivable (24) (27)
Amortization of debt issuance costs 942 792
Amortization of cash flow hedges (15) 122
Amortization of mortgages and notes payable fair value adjustments (20) 411
Losses on debt extinguishment 0 76
Net gains on disposition of property (4,100) (18,937)
Equity in earnings of unconsolidated affiliates (300) (637)
Distributions of earnings from unconsolidated affiliates 591 395
Changes in operating assets and liabilities:    
Accounts receivable (1,038) 6,658
Prepaid expenses and other assets (4,529) (5,544)
Accrued straight-line rents receivable (7,224) (4,245)
Accounts payable, accrued expenses and other liabilities (27,545) (16,381)
Net cash provided by operating activities 74,078 82,980
Investing activities:    
Investments in development in-process (13,315) (19,789)
Investments in tenant improvements and deferred leasing costs (30,273) (22,939)
Investments in building improvements (15,413) (14,422)
Investment in acquired controlling interest in unconsolidated affiliate 0 (127,339)
Net proceeds from disposition of real estate assets 9,469 30,242
Investments in mortgages and notes receivable (24) 0
Repayments of mortgages and notes receivable 72 76
Investments in and advances to unconsolidated affiliates (7,378) 0
Changes in other investing activities (2,555) (746)
Net cash used in investing activities (59,417) (154,917)
Financing activities:    
Distributions on Common Units (53,471) (51,014)
Distributions on Preferred Units (621) (622)
Distributions to noncontrolling interests in consolidated affiliates (1,411) (782)
Proceeds from the issuance of Common Units 6,501 493
Costs paid for the issuance of Common Units (183) (10)
Repurchase of units related to tax withholdings (2,145) (1,681)
Borrowings on revolving credit facility 70,000 0
Repayments of revolving credit facility (30,000) 0
Repayments of mortgages and notes payable (1,585) (501)
Changes in debt issuance costs and other financing activities (205) (4,812)
Net cash used in financing activities (13,120) (58,929)
Net increase/(decrease) in cash and cash equivalents and restricted cash 1,541 (130,866)
Cash and cash equivalents and restricted cash at beginning of the period 31,198 189,244
Cash and cash equivalents and restricted cash at end of the period 32,739 58,378
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents at end of the period 18,669 49,279
Restricted cash at end of the period 14,070 9,099
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 34,380 27,646
Supplemental disclosure of non-cash investing and financing activities:    
Changes in accrued capital expenditures [1] (17,115) (454)
Write-off of fully depreciated real estate assets 12,183 15,468
Write-off of fully amortized leasing costs 6,150 12,848
Write-off of fully amortized debt issuance costs 0 2,983
Adjustment of Redeemable Common Units to fair value 2,881 9,396
Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities $ 37,500 $ 65,500
[1] Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities at March 31, 2022 and 2021 were $37.5 million and $65.5 million, respectively.
v3.22.1
Description of Business and Significant Accounting Policies
 3 Months Ended
Mar. 31, 2022
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 office real estate investment trust (“REIT”) that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa. The Company conducts its activities through Highwoods Realty Limited Partnership (the “Operating Partnership”). At March 31, 2022, we owned or had an interest in 28.0 million rentable square feet of in-service properties, 0.6 million rentable square feet of office properties under development and development land with approximately 4.8 million rentable square feet of potential office build out.

Capital Structure

The Company is the sole general partner of the Operating Partnership. At March 31, 2022, the Company owned all of the Preferred Units and 104.7 million, or 97.7%, of the Common Units in the Operating Partnership. Limited partners owned the remaining 2.5 million Common Units.

During 2020, we entered into separate equity distribution agreements in which the Company may offer and sell up to $300.0 million in aggregate gross sales price of shares of Common Stock. During the three months ended March 31, 2022, the Company issued 130,011 shares of Common Stock under its equity distribution agreements at an average gross sales price of $46.50 per share and received net proceeds, after sales commissions, of $6.0 million.

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. At March 31, 2022, we have involvement with, and are the primary beneficiary in, an entity that we concluded to be a variable interest entity. As such, this entity is consolidated. Additionally, at March 31, 2022, we have involvement with, but are not the primary beneficiary in, an entity that we concluded to be a variable interest entity. As such, this entity is not consolidated. (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 2021 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 March 31, 2022, a reserve of $0.6 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 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 now 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.
v3.22.1
Leases
 3 Months Ended
Mar. 31, 2022
Leases [Abstract]  
Leases Leases
Operating 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 $203.6 million and $179.9 million during the three months ended March 31, 2022 and 2021, respectively. Included in these amounts are variable lease payments of $17.4 million and $14.5 million during the three months ended March 31, 2022 and 2021, respectively.
v3.22.1
Variable Interest Entities
 3 Months Ended
Mar. 31, 2022
Variable Interest Entities [Abstract]  
Variable Interest Entities Variable Interest Entities
Consolidated Variable Interest Entity

In 2019, we and The Bromley Companies formed a 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 and the building was placed in service 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 West 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 West joint venture that is scheduled to mature on the second anniversary of completion of the building as defined in the loan agreement. The maturity date is currently estimated at mid-2023. The loan bears interest at LIBOR plus 250 basis points. As of March 31, 2022, $30.1 million under the loan has been funded.

We determined that we have a variable interest in the Midtown West 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 West 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 West joint venture is consolidated and all intercompany transactions and accounts are eliminated. The following table sets forth the assets and liabilities of the Midtown West joint venture included on our Consolidated Balance Sheets:

March 31,
2022		December 31,
2021
Net real estate assets$55,061 $53,191 
Cash and cash equivalents$885 $389 
Accounts receivable$229 $— 
Accrued straight-line rents receivable$145 $121 
Deferred leasing costs, net$1,511 $1,519 
Prepaid expenses and other assets, net$172 $163 
Accounts payable, accrued expenses and other liabilities$1,728 $646 

The assets of the Midtown West joint venture can be used only to settle obligations of the joint venture and its creditors have no recourse to our wholly owned assets.
Unconsolidated Variable Interest Entity

During the fourth quarter of 2021, we and Brand Properties, LLC (“Brand”) formed a joint venture to construct 2827 Peachtree, a 135,000 square foot, multi-customer office building located in Atlanta’s Buckhead submarket. 2827 Peachtree has an anticipated total investment of $79.0 million. Construction of 2827 Peachtree began in the first quarter of 2022 with a scheduled completion date in the third quarter of 2023. At closing, we agreed to contribute cash of $13.3 million, which has been fully funded, in exchange for a 50.0% interest in the 2827 Peachtree joint venture and Brand contributed land valued at $7.7 million and cash of $5.6 million in exchange for the remaining 50.0% interest. We also committed to provide a $49.6 million interest-only secured construction loan to the 2827 Peachtree joint venture that is scheduled to mature in December 2024 with an option to extend for one year. The loan bears interest at LIBOR plus 300 basis points. As of March 31, 2022, no amounts under the loan have been funded.

We determined that we have a variable interest in the 2827 Peachtree 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 equity holder and Brand as an equity holder. The 2827 Peachtree 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 Brand is not sufficient to finance its planned investments and operations. However, since we are the not the managing member or lead developer, we concluded we do not have the power to direct matters that most significantly impact the activities of the entity and therefore, do not qualify as the primary beneficiary. Accordingly, the entity is not consolidated. At March 31, 2022, our risk of loss with respect to this arrangement was limited to the carrying value of the investment balance of $13.5 million as no amounts were outstanding under the loan. The assets of the 2827 Peachtree joint venture can be used only to settle obligations of the joint venture and its creditors have no recourse to our wholly owned assets.
v3.22.1
Real Estate Assets
 3 Months Ended
Mar. 31, 2022
Real Estate [Abstract]  
Real Estate Assets Real Estate Assets
Dispositions

During the first quarter of 2022, we sold land in Tampa for a sales price of $9.6 million and recorded a gain on disposition of property of $4.1 million.
v3.22.1
Intangible Assets and Below Market Lease Liabilities
 3 Months Ended
Mar. 31, 2022
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:

March 31,
2022		December 31,
2021
Assets:
Deferred leasing costs (including lease incentives and above market lease and in-place lease acquisition-related intangible assets)$401,693 $402,013 
Less accumulated amortization(149,486)(143,111)
$252,207 $258,902 
Liabilities (in accounts payable, accrued expenses and other liabilities):
Acquisition-related below market lease liabilities$56,955 $57,703 
Less accumulated amortization(29,597)(28,978)
$27,358 $28,725 

The following table sets forth amortization of intangible assets and below market lease liabilities:

Three Months Ended March 31,
20222021
Amortization of deferred leasing costs and acquisition-related intangible assets (in depreciation and amortization)$11,245 $8,571 
Amortization of lease incentives (in rental and other revenues)$450 $448 
Amortization of acquisition-related intangible assets (in rental and other revenues)$830 $277 
Amortization of acquisition-related below market lease liabilities (in rental and other revenues)$(1,367)$(1,429)

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 Below Market Lease Liabilities (in Rental and Other Revenues)
April 1 through December 31, 2022$32,180 $1,200 $2,281 $(3,927)
202337,817 1,502 2,745 (4,824)
202432,727 1,357 2,531 (4,111)
202525,975 1,281 1,667 (2,594)
202622,054 1,155 1,336 (2,294)
Thereafter75,701 3,904 4,794 (9,608)
$226,454 $10,399 $15,354 $(27,358)
Weighted average remaining amortization periods as of March 31, 2022 (in years)8.18.47.58.2
v3.22.1
Mortgages and Notes Payable
 3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]  
Mortgages and Notes Payable Mortgages and Notes Payable
The following table sets forth our mortgages and notes payable:

March 31,
2022		December 31,
2021
Secured indebtedness$489,979 $491,942 
Unsecured indebtedness2,352,538 2,312,180 
Less-unamortized debt issuance costs(14,619)(15,207)
Total mortgages and notes payable, net$2,827,898 $2,788,915 

At March 31, 2022, our secured mortgage loans were collateralized by real estate assets with an undepreciated book value of $728.1 million.

Our $750.0 million unsecured revolving credit facility is scheduled to mature in March 2025 and includes an accordion feature that allows for an additional $550.0 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 90 basis points and the annual facility fee is 20 basis points. The interest rate and facility fee are based on the higher of the publicly announced ratings from Moody’s Investors Service or Standard & Poor’s Ratings Services. There was $110.0 million outstanding under our revolving credit facility at both March 31, 2022 and April 19, 2022. At both March 31, 2022 and April 19, 2022, 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 March 31, 2022 and April 19, 2022 was $639.9 million.

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 April 26, 2022 (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 $200 million unsecured bank term loan that is scheduled to mature in November 2022 and the $250 million principal amount of unsecured notes that are scheduled to mature in January 2023. 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.
v3.22.1
Derivative Financial Instruments
 3 Months Ended
Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments Derivative Financial Instruments
We previously entered into floating-to-fixed interest rate swaps through January 2022 with respect to an aggregate of $50 million LIBOR-based borrowings. These swaps effectively fixed the underlying one month LIBOR rate at a weighted average rate of 1.693%. During the first quarter of 2022, these interest rate swaps expired.

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

Amounts reported in accumulated other comprehensive income/(loss) related to derivatives are reclassified to interest expense as interest payments are made on our debt. During the period from April 1, 2022 through March 31, 2023, we estimate that $0.3 million will be reclassified as a net decrease to interest expense.

The following table sets forth the fair value of our derivatives:

March 31,
2022		December 31,
2021
Derivatives:
Derivatives designated as cash flow hedges in accounts payable, accrued expenses and other liabilities:
Interest rate swaps$— $60 

The following table sets forth the effect of our cash flow hedges on accumulated other comprehensive loss and interest expense:

Three Months Ended March 31,
20222021
Derivatives Designated as Cash Flow Hedges:
Amount of (gains)/losses reclassified out of accumulated other comprehensive loss into interest expense:
Interest rate swaps$(15)$122 
v3.22.1
Noncontrolling Interests
 3 Months Ended
Mar. 31, 2022
Noncontrolling Interest [Abstract]  
Noncontrolling Interests Noncontrolling Interests
Noncontrolling Interests in Consolidated Affiliates

At March 31, 2022, 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 the Midtown West joint venture. See Note 3. 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 March 31,
20222021
Beginning noncontrolling interests in the Operating Partnership$111,689 $112,499 
Adjustment of noncontrolling interests in the Operating Partnership to fair value3,168 9,266 
Net income attributable to noncontrolling interests in the Operating Partnership965 1,493 
Distributions to noncontrolling interests in the Operating Partnership(1,252)(1,363)
Total noncontrolling interests in the Operating Partnership$114,570 $121,895 

There were no transfers from noncontrolling interests during the three months ended March 31, 2022 and 2021.
v3.22.1
Disclosure About Fair Value of Financial Instruments
 3 Months Ended
Mar. 31, 2022
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 any 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 any 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 March 31, 2022:
Assets:
Mortgages and notes receivable, at fair value (1)
$1,203 $— $1,203 
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets)
2,721 2,721 — 
Total Assets$3,924 $2,721 $1,203 
Noncontrolling Interests in the Operating Partnership$114,570 $114,570 $— 
Liabilities:
Mortgages and notes payable, net, at fair value (1)
$2,765,393 $— $2,765,393 
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities)
2,721 2,721 — 
Total Liabilities
$2,768,114 $2,721 $2,765,393 
Fair Value at December 31, 2021:
Assets:
Mortgages and notes receivable, at fair value (1)
$1,227 $— $1,227 
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets)
2,866 2,866 — 
Total Assets$4,093 $2,866 $1,227 
Noncontrolling Interests in the Operating Partnership$111,689 $111,689 $— 
Liabilities:
Mortgages and notes payable, net, at fair value (1)
$2,907,492 $— $2,907,492 
Interest rate swaps (in accounts payable, accrued expenses and other liabilities)
60 — 60 
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities)
2,866 2,866 — 
Total Liabilities
$2,910,418 $2,866 $2,907,552 
__________
(1)    Amounts are not recorded at fair value on our Consolidated Balance Sheets at March 31, 2022 and December 31, 2021.
v3.22.1
Share-Based Payments
 3 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [Abstract]  
Share-Based Payments Share-Based PaymentsDuring the three months ended March 31, 2022, the Company granted 99,551 shares of time-based restricted stock and 81,832 shares of total return-based restricted stock with weighted average grant date fair values per share of $43.60 and $41.94, respectively. We recorded share-based compensation expense of $5.3 million and $3.0 million during the three months ended March 31, 2022 and 2021, respectively. At March 31, 2022, there was $5.9 million of total unrecognized share-based compensation costs, which will be recognized over a weighted average remaining contractual term of 2.4 years.
v3.22.1
Accumulated Other Comprehensive Loss
 3 Months Ended
Mar. 31, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss
The following table sets forth the components of accumulated other comprehensive loss:

Three Months Ended March 31,
20222021
Cash flow hedges:
Beginning balance$(973)$(1,462)
Amortization of cash flow hedges (1)
(15)122 
Total accumulated other comprehensive loss$(988)$(1,340)
__________
(1)    Amounts reclassified out of accumulated other comprehensive loss into interest expense.
v3.22.1
Real Estate and Other Assets Held For Sale
 3 Months Ended
Mar. 31, 2022
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 March 31, 2022 and December 31, 2021, which are considered non-core:

March 31,
2022		December 31,
2021
Assets:
Land$1,038 $— 
Buildings and tenant improvements1,577 — 
Land held for development3,628 3,482 
Less-accumulated depreciation(274)— 
Net real estate assets5,969 3,482 
Prepaid expenses and other assets, net62 36 
Real estate and other assets, net, held for sale$6,031 $3,518 
v3.22.1
Earnings Per Share and Per Unit
 3 Months Ended
Mar. 31, 2022
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 March 31,
20222021
Earnings per Common Share - basic:
Numerator:
Net income$42,103 $56,855 
Net (income) attributable to noncontrolling interests in the Operating Partnership
(965)(1,493)
Net (income) attributable to noncontrolling interests in consolidated affiliates
(257)(281)
Dividends on Preferred Stock(621)(622)
Net income available for common stockholders$40,260 $54,459 
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)
104,933 103,963 
Net income available for common stockholders$0.38 $0.52 
Earnings per Common Share - diluted:
Numerator:
Net income$42,103 $56,855 
Net (income) attributable to noncontrolling interests in consolidated affiliates
(257)(281)
Dividends on Preferred Stock(621)(622)
Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership
$41,225 $55,952 
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)
104,933 103,963 
Add:
Stock options using the treasury method15 8 
Noncontrolling interests Common Units2,505 2,839 
Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions
107,453 106,810 
Net income available for common stockholders$0.38 $0.52 
__________
(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 March 31,
20222021
Earnings per Common Unit - basic:
Numerator:
Net income$42,103 $56,855 
Net (income) attributable to noncontrolling interests in consolidated affiliates
(257)(281)
Distributions on Preferred Units(621)(622)
Net income available for common unitholders$41,225 $55,952 
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)
107,029 106,393 
Net income available for common unitholders$0.39 $0.53 
Earnings per Common Unit - diluted:
Numerator:
Net income$42,103 $56,855 
Net (income) attributable to noncontrolling interests in consolidated affiliates
(257)(281)
Distributions on Preferred Units(621)(622)
Net income available for common unitholders$41,225 $55,952 
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)
107,029 106,393 
Add:
Stock options using the treasury method15 8 
Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions
107,044 106,401 
Net income available for common unitholders$0.39 $0.53 
__________
(1)Includes all unvested restricted stock where distributions on such restricted stock are non-forfeitable.
v3.22.1
Segment Information
 3 Months Ended
Mar. 31, 2022
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.

Three Months Ended March 31,
20222021
Rental and Other Revenues:
Office:
Atlanta$35,554 $35,975 
Charlotte16,944 9,134 
Nashville43,447 35,159 
Orlando13,312 12,559 
Pittsburgh14,946 14,618 
Raleigh46,296 37,042 
Richmond10,533 11,462 
Tampa24,023 24,424 
Total Office Segment205,055 180,373 
Other1,323 3,432 
Total Rental and Other Revenues$206,378 $183,805 
Net Operating Income:
Office:
Atlanta$23,681 $24,000 
Charlotte13,050 7,252 
Nashville32,522 24,993 
Orlando8,137 7,712 
Pittsburgh8,861 8,889 
Raleigh34,715 28,136 
Richmond7,225 8,053 
Tampa15,946 16,640 
Total Office Segment144,137 125,675 
Other819 1,941 
Total Net Operating Income144,956 127,616 
Reconciliation to net income:
Depreciation and amortization(69,667)(60,927)
General and administrative expenses(13,556)(9,952)
Interest expense(24,393)(19,768)
Other income363 312 
Gains on disposition of property4,100 18,937 
Equity in earnings of unconsolidated affiliates300 637 
Net income$42,103 $56,855 
v3.22.1
Subsequent Events
 3 Months Ended
Mar. 31, 2022
Subsequent Events [Abstract]  
Subsequent Events Subsequent EventsOn April 20, 2022, the Company declared a cash dividend of $0.50 per share of Common Stock, which is payable on June 14, 2022 to stockholders of record as of May 23, 2022.
v3.22.1
Description of Business and Significant Accounting Policies (Policies)
 3 Months Ended
Mar. 31, 2022
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. At March 31, 2022, we have involvement with, and are the primary beneficiary in, an entity that we concluded to be a variable interest entity. As such, this entity is consolidated. Additionally, at March 31, 2022, we have involvement with, but are not the primary beneficiary in, an entity that we concluded to be a variable interest entity. As such, this entity is not consolidated. (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 2021 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 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 now 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.
v3.22.1
Variable Interest Entities (Tables)
 3 Months Ended
Mar. 31, 2022
Variable Interest Entities [Abstract]  
Schedule of Variable Interest Entities The following table sets forth the assets and liabilities of the Midtown West joint venture included on our Consolidated Balance Sheets:
March 31,
2022		December 31,
2021
Net real estate assets$55,061 $53,191 
Cash and cash equivalents$885 $389 
Accounts receivable$229 $— 
Accrued straight-line rents receivable$145 $121 
Deferred leasing costs, net$1,511 $1,519 
Prepaid expenses and other assets, net$172 $163 
Accounts payable, accrued expenses and other liabilities$1,728 $646 
v3.22.1
Intangible Assets and Below Market Lease Liabilities (Tables)
 3 Months Ended
Mar. 31, 2022
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:

March 31,
2022		December 31,
2021
Assets:
Deferred leasing costs (including lease incentives and above market lease and in-place lease acquisition-related intangible assets)$401,693 $402,013 
Less accumulated amortization(149,486)(143,111)
$252,207 $258,902 
Liabilities (in accounts payable, accrued expenses and other liabilities):
Acquisition-related below market lease liabilities$56,955 $57,703 
Less accumulated amortization(29,597)(28,978)
$27,358 $28,725 
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 March 31,
20222021
Amortization of deferred leasing costs and acquisition-related intangible assets (in depreciation and amortization)$11,245 $8,571 
Amortization of lease incentives (in rental and other revenues)$450 $448 
Amortization of acquisition-related intangible assets (in rental and other revenues)$830 $277 
Amortization of acquisition-related below market lease liabilities (in rental and other revenues)$(1,367)$(1,429)
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 Below Market Lease Liabilities (in Rental and Other Revenues)
April 1 through December 31, 2022$32,180 $1,200 $2,281 $(3,927)
202337,817 1,502 2,745 (4,824)
202432,727 1,357 2,531 (4,111)
202525,975 1,281 1,667 (2,594)
202622,054 1,155 1,336 (2,294)
Thereafter75,701 3,904 4,794 (9,608)
$226,454 $10,399 $15,354 $(27,358)
Weighted average remaining amortization periods as of March 31, 2022 (in years)8.18.47.58.2
v3.22.1
Mortgages and Notes Payable (Tables)
 3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]  
Schedule of Consolidated Mortgages and Notes Payable
The following table sets forth our mortgages and notes payable:

March 31,
2022		December 31,
2021
Secured indebtedness$489,979 $491,942 
Unsecured indebtedness2,352,538 2,312,180 
Less-unamortized debt issuance costs(14,619)(15,207)
Total mortgages and notes payable, net$2,827,898 $2,788,915 
v3.22.1
Derivative Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments, Fair Value
The following table sets forth the fair value of our derivatives:

March 31,
2022		December 31,
2021
Derivatives:
Derivatives designated as cash flow hedges in accounts payable, accrued expenses and other liabilities:
Interest rate swaps$— $60 
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 loss and interest expense:

Three Months Ended March 31,
20222021
Derivatives Designated as Cash Flow Hedges:
Amount of (gains)/losses reclassified out of accumulated other comprehensive loss into interest expense:
Interest rate swaps$(15)$122 
v3.22.1
Noncontrolling Interests (Tables)
 3 Months Ended
Mar. 31, 2022
Highwoods Properties, Inc. [Member]  
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 March 31,
20222021
Beginning noncontrolling interests in the Operating Partnership$111,689 $112,499 
Adjustment of noncontrolling interests in the Operating Partnership to fair value3,168 9,266 
Net income attributable to noncontrolling interests in the Operating Partnership965 1,493 
Distributions to noncontrolling interests in the Operating Partnership(1,252)(1,363)
Total noncontrolling interests in the Operating Partnership$114,570 $121,895 
v3.22.1
Disclosure About Fair Value of Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2022
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 March 31, 2022:
Assets:
Mortgages and notes receivable, at fair value (1)
$1,203 $— $1,203 
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets)
2,721 2,721 — 
Total Assets$3,924 $2,721 $1,203 
Noncontrolling Interests in the Operating Partnership$114,570 $114,570 $— 
Liabilities:
Mortgages and notes payable, net, at fair value (1)
$2,765,393 $— $2,765,393 
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities)
2,721 2,721 — 
Total Liabilities
$2,768,114 $2,721 $2,765,393 
Fair Value at December 31, 2021:
Assets:
Mortgages and notes receivable, at fair value (1)
$1,227 $— $1,227 
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets)
2,866 2,866 — 
Total Assets$4,093 $2,866 $1,227 
Noncontrolling Interests in the Operating Partnership$111,689 $111,689 $— 
Liabilities:
Mortgages and notes payable, net, at fair value (1)
$2,907,492 $— $2,907,492 
Interest rate swaps (in accounts payable, accrued expenses and other liabilities)
60 — 60 
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities)
2,866 2,866 — 
Total Liabilities
$2,910,418 $2,866 $2,907,552 
__________
(1)    Amounts are not recorded at fair value on our Consolidated Balance Sheets at March 31, 2022 and December 31, 2021.
v3.22.1
Accumulated Other Comprehensive Loss (Tables)
 3 Months Ended
Mar. 31, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Components of Accumulated Other Comprehensive Loss
The following table sets forth the components of accumulated other comprehensive loss:

Three Months Ended March 31,
20222021
Cash flow hedges:
Beginning balance$(973)$(1,462)
Amortization of cash flow hedges (1)
(15)122 
Total accumulated other comprehensive loss$(988)$(1,340)
__________
(1)    Amounts reclassified out of accumulated other comprehensive loss into interest expense.
v3.22.1
Real Estate and Other Assets Held For Sale (Tables)
 3 Months Ended
Mar. 31, 2022
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 March 31, 2022 and December 31, 2021, which are considered non-core:

March 31,
2022		December 31,
2021
Assets:
Land$1,038 $— 
Buildings and tenant improvements1,577 — 
Land held for development3,628 3,482 
Less-accumulated depreciation(274)— 
Net real estate assets5,969 3,482 
Prepaid expenses and other assets, net62 36 
Real estate and other assets, net, held for sale$6,031 $3,518 
v3.22.1
Earnings Per Share and Per Unit (Tables)
 3 Months Ended
Mar. 31, 2022
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 March 31,
20222021
Earnings per Common Share - basic:
Numerator:
Net income$42,103 $56,855 
Net (income) attributable to noncontrolling interests in the Operating Partnership
(965)(1,493)
Net (income) attributable to noncontrolling interests in consolidated affiliates
(257)(281)
Dividends on Preferred Stock(621)(622)
Net income available for common stockholders$40,260 $54,459 
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)
104,933 103,963 
Net income available for common stockholders$0.38 $0.52 
Earnings per Common Share - diluted:
Numerator:
Net income$42,103 $56,855 
Net (income) attributable to noncontrolling interests in consolidated affiliates
(257)(281)
Dividends on Preferred Stock(621)(622)
Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership
$41,225 $55,952 
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)
104,933 103,963 
Add:
Stock options using the treasury method15 8 
Noncontrolling interests Common Units2,505 2,839 
Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions
107,453 106,810 
Net income available for common stockholders$0.38 $0.52 
__________
(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 March 31,
20222021
Earnings per Common Unit - basic:
Numerator:
Net income$42,103 $56,855 
Net (income) attributable to noncontrolling interests in consolidated affiliates
(257)(281)
Distributions on Preferred Units(621)(622)
Net income available for common unitholders$41,225 $55,952 
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)
107,029 106,393 
Net income available for common unitholders$0.39 $0.53 
Earnings per Common Unit - diluted:
Numerator:
Net income$42,103 $56,855 
Net (income) attributable to noncontrolling interests in consolidated affiliates
(257)(281)
Distributions on Preferred Units(621)(622)
Net income available for common unitholders$41,225 $55,952 
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)
107,029 106,393 
Add:
Stock options using the treasury method15 8 
Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions
107,044 106,401 
Net income available for common unitholders$0.39 $0.53 
__________
(1)Includes all unvested restricted stock where distributions on such restricted stock are non-forfeitable.
v3.22.1
Segment Information (Tables)
 3 Months Ended
Mar. 31, 2022
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.

Three Months Ended March 31,
20222021
Rental and Other Revenues:
Office:
Atlanta$35,554 $35,975 
Charlotte16,944 9,134 
Nashville43,447 35,159 
Orlando13,312 12,559 
Pittsburgh14,946 14,618 
Raleigh46,296 37,042 
Richmond10,533 11,462 
Tampa24,023 24,424 
Total Office Segment205,055 180,373 
Other1,323 3,432 
Total Rental and Other Revenues$206,378 $183,805 
Reconciliation of Operating Profit (Loss) from Segments to Consolidated
Net Operating Income:
Office:
Atlanta$23,681 $24,000 
Charlotte13,050 7,252 
Nashville32,522 24,993 
Orlando8,137 7,712 
Pittsburgh8,861 8,889 
Raleigh34,715 28,136 
Richmond7,225 8,053 
Tampa15,946 16,640 
Total Office Segment144,137 125,675 
Other819 1,941 
Total Net Operating Income144,956 127,616 
Reconciliation to net income:
Depreciation and amortization(69,667)(60,927)
General and administrative expenses(13,556)(9,952)
Interest expense(24,393)(19,768)
Other income363 312 
Gains on disposition of property4,100 18,937 
Equity in earnings of unconsolidated affiliates300 637 
Net income$42,103 $56,855 
v3.22.1
Description of Business and Significant Accounting Policies (Details)
$ / shares in Units, $ in Thousands, ft² in Millions
 3 Months Ended 6 Months Ended
Mar. 31, 2022
USD ($)
ft²
$ / shares
shares
Mar. 31, 2021
USD ($)
Jun. 30, 2020
USD ($)
Description of Business [Abstract]      
Rentable square feet of commercial real estate properties (in sq feet) | ft² 28.0    
Rentable square feet of commercial real estate office properties under development (in sq feet) | ft² 0.6    
Rentable square feet of potential office build (in sq feet) | ft² 4.8    
Net proceeds of Common Stock sold during the period $ 4,173 $ (1,198)  
Self insurance liability $ 600    
Highwoods Properties, Inc. [Member]      
Description of Business [Abstract]      
Common Units of partnership owned by the Company (in shares) | shares 104,700,000    
Percentage of ownership of Common Units (in hundredths) 97.70%    
Highwoods Properties, Inc. [Member] | ATM Equity Offering      
Description of Business [Abstract]      
Net proceeds of Common Stock sold during the period $ 6,000    
Number of Common Stock sold during the period (in shares) | shares 130,011    
Average price of Common Stock sold during the period (in dollars per share) | $ / shares $ 46.50    
Highwoods Properties, Inc. [Member] | ATM Equity Offering | Maximum [Member]      
Description of Business [Abstract]      
Net proceeds of Common Stock sold during the period     $ 300,000
Highwoods Realty Limited Partnership [Member]      
Description of Business [Abstract]      
Common Units of partnership not owned by the Company (in shares) | shares 2,500,000    
v3.22.1
Leases ASC 842 (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Lessor Disclosure [Abstract]    
Rental and other revenues related to operating lease payments $ 203.6 $ 179.9
Variable lease income $ 17.4 $ 14.5
Minimum [Member]    
Lessor Disclosure [Abstract]    
Operating leases, term of leases (in years) 3 years  
Maximum [Member]    
Lessor Disclosure [Abstract]    
Operating leases, term of leases (in years) 10 years  
v3.22.1
Variable Interest Entities (Details)
 3 Months Ended 12 Months Ended
Dec. 31, 2021
USD ($)
ft²
Dec. 31, 2019
USD ($)
ft²
Mar. 31, 2022
USD ($)
ft²
Mar. 31, 2021
USD ($)
Variable Interest Entities [Line Items]        
Rentable square feet of office property under development (in sq feet) | ft²     600,000  
Assets and liabilities of consolidated variable interest entity [Abstract]        
Net real estate assets $ 5,032,033,000   $ 5,004,488,000  
Cash and cash equivalents 23,152,000   18,669,000 $ 49,279,000
Accounts receivable 14,002,000   17,888,000  
Accrued straight-line rents receivable 268,324,000   275,133,000  
Deferred leasing costs, net 258,902,000   252,207,000  
Prepaid expense and other assets, net 78,551,000   81,153,000  
Accounts payable, accrued expenses and other liabilities $ 294,976,000   250,128,000  
Variable Interest Entity, Non Primary Beneficiary [Member]        
Variable Interest Entities [Line Items]        
Rentable square feet of office property under development (in sq feet) | ft² 135,000      
Total anticipated development costs $ 79,000,000      
Contribution of cash to acquire interest in joint venture $ 13,300,000      
Interest in joint venture (in hundredths) 50.00%      
Advance to affiliate $ 49,600,000      
Amount of loan funded to affiliate     0  
Term of optional extension 1 year      
Risk of loss limited to carrying value     13,500,000  
Variable Interest Entity, Non Primary Beneficiary [Member] | London Interbank Offered Rate (LIBOR) [Member]        
Variable Interest Entities [Line Items]        
Variable interest rate basis LIBOR      
Interest rate, basis spread (in hundredths) 3.00%      
Variable Interest Entity, Primary Beneficiary [Member]        
Variable Interest Entities [Line Items]        
Rentable square feet of office property under development (in sq feet) | ft²   150,000    
Total anticipated development costs   $ 71,300,000    
Contribution of cash to acquire interest in joint venture   $ 20,000,000    
Interest in joint venture (in hundredths)   80.00%    
Advance to affiliate   $ 46,300,000    
Amount of loan funded to affiliate     30,100,000  
Assets and liabilities of consolidated variable interest entity [Abstract]        
Net real estate assets $ 53,191,000   55,061,000  
Cash and cash equivalents 389,000   885,000  
Accounts receivable 0   229,000  
Accrued straight-line rents receivable 121,000   145,000  
Deferred leasing costs, net 1,519,000   1,511,000  
Prepaid expense and other assets, net 163,000   172,000  
Accounts payable, accrued expenses and other liabilities 646,000   $ 1,728,000  
Variable Interest Entity, Primary Beneficiary [Member] | London Interbank Offered Rate (LIBOR) [Member]        
Variable Interest Entities [Line Items]        
Variable interest rate basis   LIBOR    
Interest rate, basis spread (in hundredths)   2.50%    
Variable Interest Entity, Partner Interest [Member]        
Variable Interest Entities [Line Items]        
Partner's interest in joint venture (in hundredths)     20.00%  
Variable Interest Entity, Partner Interest [Member] | Variable Interest Entity, Non Primary Beneficiary [Member]        
Variable Interest Entities [Line Items]        
Contribution of cash to acquire interest in joint venture 5,600,000      
Partner's contribution of property to acquire interest in joint venture $ 7,700,000      
Partner's interest in joint venture (in hundredths) 50.00%      
Variable Interest Entity, Partner Interest [Member] | Variable Interest Entity, Primary Beneficiary [Member]        
Variable Interest Entities [Line Items]        
Partner's contribution of property to acquire interest in joint venture   $ 5,000,000    
Partner's interest in joint venture (in hundredths)   20.00%    
v3.22.1
Real Estate Assets (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dispositions [Abstract]    
Gains on disposition of property $ 4,100 $ 18,937
2022 Dispositions [Member]    
Dispositions [Abstract]    
Sale price of real estate 9,600  
Gains on disposition of property $ 4,100  
v3.22.1
Intangible Assets and Below Market Lease Liabilities (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Assets:      
Deferred leasing costs (including lease incentives and above market lease and in-place lease acquisition-related intangible assets) $ 401,693   $ 402,013
Deferred leasing costs, accumulated amortization (149,486)   (143,111)
Deferred leasing costs, net/Total scheduled future amortization of intangible assets 252,207   258,902
Liabilities (in accounts payable, accrued expenses and other liabilities):      
Acquisition-related below market lease liabilities, gross 56,955   57,703
Acquisition-related below market lease liabilities, accumulated amortization (29,597)   (28,978)
Acquisition-related below market lease liabilities, net 27,358   $ 28,725
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 226,454    
Amortization of intangible assets and below market lease liabilities [Abstract]      
Amortization of intangible assets 11,245 $ 8,571  
Lease Incentives (in Rental and Other Revenues) [Member]      
Assets:      
Deferred leasing costs, net/Total scheduled future amortization of intangible assets 10,399    
Amortization of intangible assets and below market lease liabilities [Abstract]      
Amortization of intangible assets 450 448  
Acquisition-Related Intangible Assets (in Rental and Other Revenues) [Member]      
Assets:      
Deferred leasing costs, net/Total scheduled future amortization of intangible assets 15,354    
Amortization of intangible assets and below market lease liabilities [Abstract]      
Amortization of intangible assets 830 277  
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 27,358    
Amortization of intangible assets and below market lease liabilities [Abstract]      
Amortization of acquisition-related below market lease liabilities $ (1,367) $ (1,429)  
v3.22.1
Intangible Assets and Below Market Lease Liabilities - Scheduled Future Amortization (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Dec. 31, 2021
Scheduled future amortization of intangible assets [Abstract]    
Deferred leasing costs, net/Total scheduled future amortization of intangible assets $ 252,207 $ 258,902
Scheduled future amortization of below market lease liabilities [Abstract]    
Total scheduled future amortization of acquisition-related below market lease liabilities (27,358) $ (28,725)
Deferred Leasing Costs and Acquisition-Related Intangible Assets (in Depreciation and Amortization) [Member]    
Scheduled future amortization of intangible assets [Abstract]    
April 1 through December 31, 2022 32,180  
2023 37,817  
2024 32,727  
2025 25,975  
2026 22,054  
Thereafter 75,701  
Deferred leasing costs, net/Total scheduled future amortization of intangible assets $ 226,454  
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 1 month 6 days  
Lease Incentives (in Rental and Other Revenues) [Member]    
Scheduled future amortization of intangible assets [Abstract]    
April 1 through December 31, 2022 $ 1,200  
2023 1,502  
2024 1,357  
2025 1,281  
2026 1,155  
Thereafter 3,904  
Deferred leasing costs, net/Total scheduled future amortization of intangible assets $ 10,399  
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 4 months 24 days  
Acquisition-Related Intangible Assets (in Rental and Other Revenues) [Member]    
Scheduled future amortization of intangible assets [Abstract]    
April 1 through December 31, 2022 $ 2,281  
2023 2,745  
2024 2,531  
2025 1,667  
2026 1,336  
Thereafter 4,794  
Deferred leasing costs, net/Total scheduled future amortization of intangible assets $ 15,354  
Weighted average remaining amortization periods for intangible assets and below market lease liabilities [Abstract]    
Finite-lived intangible assets, average useful life (in years) 7 years 6 months  
Acquisition-Related Below Market Lease Liabilities (in Rental and Other Revenues) [Member]    
Scheduled future amortization of below market lease liabilities [Abstract]    
April 1 through December 31, 2022 $ (3,927)  
2023 (4,824)  
2024 (4,111)  
2025 (2,594)  
2026 (2,294)  
Thereafter (9,608)  
Total scheduled future amortization of acquisition-related below market lease liabilities $ (27,358)  
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 2 months 12 days  
v3.22.1
Mortgages and Notes Payable (Details)
 3 Months Ended
Mar. 31, 2022
USD ($)
extension
Apr. 19, 2022
USD ($)
Dec. 31, 2021
USD ($)
Debt Instrument [Line Items]      
Mortgages and notes payable $ 2,827,898,000   $ 2,788,915,000
Unamortized debt issuance costs $ (14,619,000)   (15,207,000)
Maximum Liquidity Requirements 1 year    
Revolving Credit Facility [Member]      
Debt Instrument [Line Items]      
Maximum borrowing capacity on credit facility $ 750,000,000    
Additional borrowing capacity on revolving credit facility $ 550,000,000    
Number of additional extensions | extension 2    
Term of optional extension 6 months    
Amount outstanding on revolving credit facility $ 110,000,000    
Outstanding letters of credit on revolving credit facility 100,000    
Unused borrowing capacity on revolving credit facility 639,900,000    
Variable Rate Term Loan (2) due 2022      
Debt Instrument [Line Items]      
Principal amount of debt 200,000,000    
3.625% (3.752% Effective Rate) Notes Due 2023      
Debt Instrument [Line Items]      
Principal amount of debt 250,000,000    
Secured indebtedness [Member]      
Debt Instrument [Line Items]      
Mortgages and notes payable 489,979,000   491,942,000
Aggregate undepreciated book value of secured real estate assets 728,100,000    
Unsecured indebtedness [Member]      
Debt Instrument [Line Items]      
Mortgages and notes payable $ 2,352,538,000   $ 2,312,180,000
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) 0.90%    
Annual facility fee (in hundredths) 0.20%    
Subsequent Event [Member] | Revolving Credit Facility [Member]      
Debt Instrument [Line Items]      
Amount outstanding on revolving credit facility   $ 110,000,000  
Outstanding letters of credit on revolving credit facility   100,000  
Unused borrowing capacity on revolving credit facility   $ 639,900,000  
v3.22.1
Derivative Financial Instruments (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Derivatives, Fair Value [Line Items]      
Expected net decrease to interest expense $ (300)    
Derivatives designated as cash flow hedges in accounts payable, accrued expenses and other liabilities:      
Interest rate swaps 0   $ 60
Amount of (gains)/losses reclassified out of accumulated other comprehensive loss into interest expense:      
Interest rate swaps (15) $ 122  
Floating to Fixed Interest Rate Swaps (2017) [Member]      
Derivatives, Fair Value [Line Items]      
Amount of borrowings outstanding, subject to swaps $ 50,000    
Underlying treasury rate term (in years) 1 month    
Weighted average interest rate under derivative instruments (in hundredths) 1.693%    
v3.22.1
Noncontrolling Interests (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Noncontrolling Interests in the Operating Partnership [Roll Forward]    
Beginning noncontrolling interests in the Operating Partnership $ 111,689  
Adjustment of noncontrolling interests in the Operating Partnership to fair value 3,168 $ 9,266
Net income attributable to noncontrolling interests in the Operating Partnership 965 1,493
Distributions to noncontrolling interests in the Operating Partnership (1,252) (1,363)
Total noncontrolling interests in the Operating Partnership 114,570  
Highwoods Properties, Inc. [Member]    
Noncontrolling Interests in the Operating Partnership [Roll Forward]    
Beginning noncontrolling interests in the Operating Partnership 111,689 112,499
Adjustment of noncontrolling interests in the Operating Partnership to fair value 3,168 9,266
Net income attributable to noncontrolling interests in the Operating Partnership 965 1,493
Distributions to noncontrolling interests in the Operating Partnership (1,252) (1,363)
Total noncontrolling interests in the Operating Partnership $ 114,570 $ 121,895
Richmond Joint Venture [Member]    
Noncontrolling Interests in Consolidated Affiliates [Abstract]    
Consolidated joint venture, partner's interest (in hundredths) 50.00%  
Midtown One Joint Venture [Member]    
Noncontrolling Interests in Consolidated Affiliates [Abstract]    
Consolidated joint venture, partner's interest (in hundredths) 20.00%  
v3.22.1
Disclosure About Fair Value of Financial Instruments - Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis (Details) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Assets:    
Mortgages and notes receivable, at fair value $ 1,203 $ 1,227
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets) 2,721 2,866
Total Assets 3,924 4,093
Liabilities:    
Mortgages and notes payable, net, at fair value 2,765,393 2,907,492
Interest rate swaps (in accounts payable, accrued expenses and other liabilities)   60
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities) 2,721 2,866
Total Liabilities 2,768,114 2,910,418
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) 2,721 2,866
Total Assets 2,721 2,866
Liabilities:    
Mortgages and notes payable, net, at fair value 0 0
Interest rate swaps (in accounts payable, accrued expenses and other liabilities)   0
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities) 2,721 2,866
Total Liabilities 2,721 2,866
Level 2 [Member]    
Assets:    
Mortgages and notes receivable, at fair value 1,203 1,227
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets) 0 0
Total Assets 1,203 1,227
Liabilities:    
Mortgages and notes payable, net, at fair value 2,765,393 2,907,492
Interest rate swaps (in accounts payable, accrued expenses and other liabilities)   60
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities) 0 0
Total Liabilities 2,765,393 2,907,552
Highwoods Properties, Inc. [Member]    
Assets:    
Noncontrolling Interests in the Operating Partnership 114,570 111,689
Highwoods Properties, Inc. [Member] | Level 1 [Member]    
Assets:    
Noncontrolling Interests in the Operating Partnership 114,570 111,689
Highwoods Properties, Inc. [Member] | Level 2 [Member]    
Assets:    
Noncontrolling Interests in the Operating Partnership $ 0 $ 0
v3.22.1
Share-Based Payments (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Share-based compensation expense $ 5,291 $ 2,982
Total unrecognized share-based compensation costs $ 5,900  
Weighted average remaining contractual term for recognition of unrecognized share-based compensation costs (in years) 2 years 4 months 24 days  
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) 99,551  
Weighted average grant date fair value of each restricted stock share granted (in dollars per share) $ 43.60  
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) 81,832  
Weighted average grant date fair value of each restricted stock share granted (in dollars per share) $ 41.94  
v3.22.1
Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Accumulated Other Comprehensive Loss Calculation [Roll Forward]    
Beginning balance $ (973) $ (1,462)
Amortization of cash flow hedges (15) 122
Total accumulated other comprehensive loss $ (988) $ (1,340)
v3.22.1
Real Estate and Other Assets Held For Sale (Details) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Real Estate and Other Assets Held For Sale [Abstract]    
Land $ 1,038 $ 0
Buildings and tenant improvements 1,577 0
Land held for development 3,628 3,482
Less-accumulated depreciation (274) 0
Net real estate assets 5,969 3,482
Prepaid expenses and other assets, net 62 36
Real estate and other assets, net, held for sale $ 6,031 $ 3,518
v3.22.1
Earnings Per Share and Per Unit (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Earnings per Common Share and Per Unit - basic: [Abstract]    
Net income $ 42,103 $ 56,855
Net (income) attributable to noncontrolling interests in the Operating Partnership (965) (1,493)
Net (income) attributable to noncontrolling interests in consolidated affiliates (257) (281)
Dividends on Preferred Stock (621) (622)
Net income available for common stockholders $ 40,260 $ 54,459
Denominator:    
Denominator for basic earnings per Common Share - weighted average shares (in shares) 104,933 103,963
Earnings per Common Share - basic:    
Net income available for common stockholders (in dollars per share) $ 0.38 $ 0.52
Earnings per Common Share and Per Unit - diluted: [Abstract]    
Net income $ 42,103 $ 56,855
Net (income) attributable to noncontrolling interests in consolidated affiliates (257) (281)
Dividends on Preferred Stock (621) (622)
Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership $ 41,225 $ 55,952
Denominator:    
Denominator for basic earnings per Common Share - weighted average shares (in shares) 104,933 103,963
Stock options using the treasury method (in shares) 15 8
Noncontrolling interests Common Units (in shares) 2,505 2,839
Denominator for diluted earnings per Common Share - adjusted weighted average shares and assumed conversions (in shares) 107,453 106,810
Earnings per Common Share - diluted:    
Net income available for common stockholders (in dollars per share) $ 0.38 $ 0.52
Highwoods Realty Limited Partnership [Member]    
Earnings per Common Share and Per Unit - basic: [Abstract]    
Net income $ 42,103 $ 56,855
Net (income) attributable to noncontrolling interests in consolidated affiliates (257) (281)
Distributions on Preferred Units (621) (622)
Net income available for common unitholders $ 41,225 $ 55,952
Denominator:    
Denominator for basic earnings per Common Unit - weighted average units (in shares) 107,029 106,393
Earnings per Common Unit - basic:    
Net income available for common unitholders (in dollars per share) $ 0.39 $ 0.53
Earnings per Common Share and Per Unit - diluted: [Abstract]    
Net income $ 42,103 $ 56,855
Net (income) attributable to noncontrolling interests in consolidated affiliates (257) (281)
Distributions on Preferred Units (621) (622)
Net income available for common unitholders $ 41,225 $ 55,952
Denominator:    
Denominator for basic earnings per Common Unit - weighted average units (in shares) 107,029 106,393
Stock options using the treasury method (in shares) 15 8
Denominator for diluted earnings per Common Unit - adjusted weighted average units and assumed conversions (in shares) 107,044 106,401
Earnings per Common Unit - diluted:    
Net income available for common unitholders (in dollars per share) $ 0.39 $ 0.53
v3.22.1
Segment Information (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Segment Reporting Information [Line Items]    
Total Rental and Other Revenues $ 206,378 $ 183,805
Total Net Operating Income 144,956 127,616
Reconciliation to net income:    
Depreciation and amortization (69,667) (60,927)
General and administrative expenses (13,556) (9,952)
Interest expense (24,393) (19,768)
Other income 363 312
Gains on disposition of property 4,100 18,937
Equity in earnings of unconsolidated affiliates 300 637
Net income 42,103 56,855
Total Office Segment [Member]    
Segment Reporting Information [Line Items]    
Total Rental and Other Revenues 205,055 180,373
Total Net Operating Income 144,137 125,675
Office Atlanta, GA [Member]    
Segment Reporting Information [Line Items]    
Total Rental and Other Revenues 35,554 35,975
Total Net Operating Income 23,681 24,000
Office Charlotte, NC [Member]    
Segment Reporting Information [Line Items]    
Total Rental and Other Revenues 16,944 9,134
Total Net Operating Income 13,050 7,252
Office Nashville, TN [Member]    
Segment Reporting Information [Line Items]    
Total Rental and Other Revenues 43,447 35,159
Total Net Operating Income 32,522 24,993
Office Orlando, FL [Member]    
Segment Reporting Information [Line Items]    
Total Rental and Other Revenues 13,312 12,559
Total Net Operating Income 8,137 7,712
Office Pittsburgh, PA [Member]    
Segment Reporting Information [Line Items]    
Total Rental and Other Revenues 14,946 14,618
Total Net Operating Income 8,861 8,889
Office Raleigh, NC [Member]    
Segment Reporting Information [Line Items]    
Total Rental and Other Revenues 46,296 37,042
Total Net Operating Income 34,715 28,136
Office Richmond, VA [Member]    
Segment Reporting Information [Line Items]    
Total Rental and Other Revenues 10,533 11,462
Total Net Operating Income 7,225 8,053
Office Tampa, FL [Member]    
Segment Reporting Information [Line Items]    
Total Rental and Other Revenues 24,023 24,424
Total Net Operating Income 15,946 16,640
Other [Member]    
Segment Reporting Information [Line Items]    
Total Rental and Other Revenues 1,323 3,432
Total Net Operating Income $ 819 $ 1,941
v3.22.1
Subsequent Events (Details) - Highwoods Properties, Inc. [Member] - $ / shares
 3 Months Ended
Apr. 20, 2022
Mar. 31, 2022
Mar. 31, 2021
Subsequent Event [Line Items]      
Dividends declared per share of Common Stock (in dollars per share)   $ 0.50 $ 0.48
Subsequent Event [Member]      
Subsequent Event [Line Items]      
Dividends declared per share of Common Stock (in dollars per share) $ 0.50