HIGHWOODS PROPERTIES, INC., 10-Q filed on 10/24/2017
Quarterly Report
v3.8.0.1
Document and Entity Information Document - shares
9 Months Ended
Sep. 30, 2017
Oct. 18, 2017
Entity Information [Line Items]    
Entity Registrant Name HIGHWOODS PROPERTIES INC.  
Entity Central Index Key 0000921082  
Current Fiscal Year End Date --12-31  
Entity Filer Category Large Accelerated Filer  
Document Type 10-Q  
Document Period End Date Sep. 30, 2017  
Document Fiscal Year Focus 2017  
Document Fiscal Period Focus Q3  
Amendment Flag false  
Entity Common Stock, Shares Outstanding   103,248,940
Highwoods Realty Limited Partnership [Member]    
Entity Information [Line Items]    
Entity Registrant Name HIGHWOODS REALTY LIMITED PARTNERSHIP  
Entity Central Index Key 0000941713  
Current Fiscal Year End Date --12-31  
Entity Filer Category Non-accelerated Filer  
Document Type 10-Q  
Document Period End Date Sep. 30, 2017  
Document Fiscal Year Focus 2017  
Document Fiscal Period Focus Q3  
Amendment Flag false  
v3.8.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
Real estate assets, at cost:    
Land $ 488,013 $ 474,375
Buildings and tenant improvements 4,605,061 4,313,373
Development in-process 58,578 279,602
Land held for development 76,969 77,355
Total real estate assets 5,228,621 5,144,705
Less-accumulated depreciation (1,196,642) (1,134,103)
Net real estate assets 4,031,979 4,010,602
Cash and cash equivalents 4,864 49,490
Restricted cash 47,761 29,141
Accounts receivable, net of allowance of $504 and $624, respectively 18,027 17,372
Mortgages and notes receivable, net of allowance of $80 and $105, respectively 6,789 8,833
Accrued straight-line rents receivable, net of allowance of $324 and $692, respectively 194,639 172,829
Investments in and advances to unconsolidated affiliates 23,523 18,846
Deferred leasing costs, net of accumulated amortization of $145,814 and $140,081, respectively 202,814 213,500
Prepaid expenses and other assets, net of accumulated amortization of $22,341 and $19,904, respectively 30,070 40,437
Total Assets 4,560,466 4,561,050
Liabilities, Noncontrolling Interests in the Operating Partnership and Equity/Liabilities, Redeemable Operating Partnership Units and Capital:    
Mortgages and notes payable, net 1,966,398 1,948,047
Accounts payable, accrued expenses and other liabilities 227,575 313,885
Total Liabilities 2,193,973 2,261,932
Commitments and contingencies
Noncontrolling interests in the Operating Partnership 147,451 144,802
Equity/Capital:    
Preferred Stock, $.01 par value, 50,000,000 authorized shares; 8.625% Series A Cumulative Redeemable Preferred Shares (liquidation preference $1,000 per share), 28,892 and 28,920 shares issued and outstanding, respectively 28,892 28,920
Common Stock, $.01 par value, 200,000,000 authorized shares; 103,248,940 and 101,665,554 shares issued and outstanding, respectively 1,032 1,017
Additional paid-in capital 2,924,048 2,850,881
Distributions in excess of net income available for common stockholders (758,484) (749,412)
Accumulated other comprehensive income 5,910 4,949
Total Stockholders’ Equity 2,201,398 2,136,355
Noncontrolling interests in consolidated affiliates 17,644 17,961
Total Equity/Capital 2,219,042 2,154,316
Total Liabilities, Noncontrolling Interests in the Operating Partnership and Equity/Total Liabilities, Redeemable Operating Partnership Units and Capital 4,560,466 4,561,050
Highwoods Realty Limited Partnership [Member]    
Real estate assets, at cost:    
Land 488,013 474,375
Buildings and tenant improvements 4,605,061 4,313,373
Development in-process 58,578 279,602
Land held for development 76,969 77,355
Total real estate assets 5,228,621 5,144,705
Less-accumulated depreciation (1,196,642) (1,134,103)
Net real estate assets 4,031,979 4,010,602
Cash and cash equivalents 4,864 49,490
Restricted cash 47,761 29,141
Accounts receivable, net of allowance of $504 and $624, respectively 18,027 17,372
Mortgages and notes receivable, net of allowance of $80 and $105, respectively 6,789 8,833
Accrued straight-line rents receivable, net of allowance of $324 and $692, respectively 194,639 172,829
Investments in and advances to unconsolidated affiliates 23,523 18,846
Deferred leasing costs, net of accumulated amortization of $145,814 and $140,081, respectively 202,814 213,500
Prepaid expenses and other assets, net of accumulated amortization of $22,341 and $19,904, respectively 30,070 40,437
Total Assets 4,560,466 4,561,050
Liabilities, Noncontrolling Interests in the Operating Partnership and Equity/Liabilities, Redeemable Operating Partnership Units and Capital:    
Mortgages and notes payable, net 1,966,398 1,948,047
Accounts payable, accrued expenses and other liabilities 227,575 313,885
Total Liabilities 2,193,973 2,261,932
Commitments and contingencies
Redeemable Operating Partnership Units:    
Common Units, 2,830,704 and 2,838,704 outstanding, respectively 147,451 144,802
Series A Preferred Units (liquidation preference $1,000 per unit), 28,892 and 28,920 units issued and outstanding, respectively 28,892 28,920
Total Redeemable Operating Partnership Units 176,343 173,722
Equity/Capital:    
General partner Common Units, 1,056,708 and 1,040,954 outstanding, respectively 21,665 21,023
Limited partner Common Units, 101,783,423 and 100,215,791 outstanding, respectively 2,144,931 2,081,463
Accumulated other comprehensive income 5,910 4,949
Noncontrolling interests in consolidated affiliates 17,644 17,961
Total Equity/Capital 2,190,150 2,125,396
Total Liabilities, Noncontrolling Interests in the Operating Partnership and Equity/Total Liabilities, Redeemable Operating Partnership Units and Capital $ 4,560,466 $ 4,561,050
v3.8.0.1
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
9 Months Ended 12 Months Ended
Sep. 30, 2017
Dec. 31, 2016
Assets:    
Accounts receivable allowance $ 504 $ 624
Mortgages and notes receivable allowance 80 105
Accrued straight-line rents receivable allowance 324 692
Deferred leasing costs, accumulated amortization 145,814 140,081
Prepaid expenses and other assets, accumulated amortization $ 22,341 $ 19,904
Equity/Capital:    
Series A Preferred Stock, dividend rate percentage (in hundredths) 8.625% 8.625%
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, liquidation preference (in dollars per share) $ 1,000 $ 1,000
Series A Preferred Stock, shares issued (in shares) 28,892 28,920
Series A Preferred Stock, shares outstanding (in shares) 28,892 28,920
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) 103,248,940 101,665,554
Common Stock, shares outstanding (in shares) 103,248,940 101,665,554
Highwoods Realty Limited Partnership [Member]    
Assets:    
Accounts receivable allowance $ 504 $ 624
Mortgages and notes receivable allowance 80 105
Accrued straight-line rents receivable allowance 324 692
Deferred leasing costs, accumulated amortization 145,814 140,081
Prepaid expenses and other assets, accumulated amortization $ 22,341 $ 19,904
Redeemable Operating Partnership Units: [Abstract]    
Redeemable Common Units outstanding (in shares) 2,830,704 2,838,704
Series A Preferred Units, liquidation preference (in dollars per share) $ 1,000 $ 1,000
Series A Preferred Units, issued (in shares) 28,892 28,920
Series A Preferred Units, outstanding (in shares) 28,892 28,920
Common Units: [Abstract]    
General partners' capital account, units outstanding (in shares) 1,056,708 1,040,954
Limited partners' capital account, units outstanding (in shares) 101,783,423 100,215,791
v3.8.0.1
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Rental and other revenues $ 180,185 $ 166,269 $ 526,876 $ 497,988
Operating expenses:        
Rental property and other expenses 61,234 58,620 177,484 173,715
Depreciation and amortization 56,973 52,923 168,934 161,734
Impairments of real estate assets 1,445 0 1,445 0
General and administrative 9,247 9,863 29,787 29,327
Total operating expenses 128,899 121,406 377,650 364,776
Interest expense:        
Contractual 16,395 17,722 48,763 56,111
Amortization of debt issuance costs 796 844 2,445 2,645
Total interest expense 17,191 18,566 51,208 58,756
Other income:        
Interest and other income 558 833 1,806 1,884
Gains on debt extinguishment 0 0 826 0
Total other income 558 833 2,632 1,884
Income from continuing operations before disposition of investment properties and activity in unconsolidated affiliates 34,653 27,130 100,650 76,340
Gains on disposition of property 19,849 3,902 25,181 14,160
Equity in earnings of unconsolidated affiliates 5,047 2,808 6,757 5,010
Income from continuing operations 59,549 33,840 132,588 95,510
Discontinued operations:        
Income from discontinued operations 0 0 0 4,097
Net gains on disposition of discontinued operations 0 0 0 414,496
Total income from discontinued operations 0 0 0 418,593
Net income 59,549 33,840 132,588 514,103
Net (income) attributable to noncontrolling interests in the Operating Partnership (1,571) (926) (3,502) (14,876)
Net (income) attributable to noncontrolling interests in consolidated affiliates (315) (319) (914) (941)
Dividends on Preferred Stock (623) (624) (1,869) (1,877)
Net income available for common stockholders $ 57,040 $ 31,971 $ 126,303 $ 496,409
Earnings per Common Share – basic:        
Income from continuing operations available for common stockholders (in dollars per share) $ 0.55 $ 0.32 $ 1.23 $ 0.92
Income from discontinued operations available for common stockholders (in dollars per share) 0.00 0.00 0.00 4.16
Net income available for common stockholders (in dollars per share) $ 0.55 $ 0.32 $ 1.23 $ 5.08
Weighted average Common Shares outstanding - basic (in shares) 103,237 98,973 102,489 97,669
Earnings per Common Share - diluted:        
Income from continuing operations available for common stockholders (in dollars per share) $ 0.55 $ 0.32 $ 1.23 $ 0.92
Income from discontinued operations available for common stockholders (in dollars per share) 0.00 0.00 0.00 4.16
Net income available for common stockholders (in dollars per share) $ 0.55 $ 0.32 $ 1.23 $ 5.08
Weighted average Common Shares outstanding - diluted (in shares) 106,145 101,939 105,402 100,645
Dividends declared per Common Share (in dollars per share) $ 0.440 $ 0.425 $ 1.320 $ 1.275
Net income available for common stockholders:        
Income from continuing operations available for common stockholders $ 57,040 $ 31,971 $ 126,303 $ 90,081
Income from discontinued operations available for common stockholders 0 0 0 406,328
Net income available for common stockholders 57,040 31,971 126,303 496,409
Highwoods Realty Limited Partnership [Member]        
Rental and other revenues 180,185 166,269 526,876 497,988
Operating expenses:        
Rental property and other expenses 61,234 58,620 177,484 173,715
Depreciation and amortization 56,973 52,923 168,934 161,734
Impairments of real estate assets 1,445 0 1,445 0
General and administrative 9,247 9,863 29,787 29,327
Total operating expenses 128,899 121,406 377,650 364,776
Interest expense:        
Contractual 16,395 17,722 48,763 56,111
Amortization of debt issuance costs 796 844 2,445 2,645
Total interest expense 17,191 18,566 51,208 58,756
Other income:        
Interest and other income 558 833 1,806 1,884
Gains on debt extinguishment 0 0 826 0
Total other income 558 833 2,632 1,884
Income from continuing operations before disposition of investment properties and activity in unconsolidated affiliates 34,653 27,130 100,650 76,340
Gains on disposition of property 19,849 3,902 25,181 14,160
Equity in earnings of unconsolidated affiliates 5,047 2,808 6,757 5,010
Income from continuing operations 59,549 33,840 132,588 95,510
Discontinued operations:        
Income from discontinued operations 0 0 0 4,097
Net gains on disposition of discontinued operations 0 0 0 414,496
Total income from discontinued operations 0 0 0 418,593
Net income 59,549 33,840 132,588 514,103
Net (income) attributable to noncontrolling interests in consolidated affiliates (315) (319) (914) (941)
Distributions on Preferred Units (623) (624) (1,869) (1,877)
Net income available for common unitholders $ 58,611 $ 32,897 $ 129,805 $ 511,285
Earnings per Common Unit - basic:        
Income from continuing operations available for common unitholders (in dollars per share) $ 0.55 $ 0.32 $ 1.24 $ 0.93
Income from discontinued operations available for common unitholders (in dollars per share) 0.00 0.00 0.00 4.18
Net income available for common unitholders (in dollars per share) $ 0.55 $ 0.32 $ 1.24 $ 5.11
Weighted average Common Units outstanding - basic (in shares) 105,660 101,422 104,914 100,142
Earnings per Common Unit - diluted:        
Income from continuing operations available for common unitholders (in dollars per share) $ 0.55 $ 0.32 $ 1.24 $ 0.92
Income from discontinued operations available for common unitholders (in dollars per share) 0.00 0.00 0.00 4.18
Net income available for common unitholders (in dollars per share) $ 0.55 $ 0.32 $ 1.24 $ 5.10
Weighted average Common Units outstanding - diluted (in shares) 105,736 101,530 104,993 100,236
Distributions declared per Common Unit (in dollars per unit) $ 0.440 $ 0.425 $ 1.320 $ 1.275
Net income available for common unitholders:        
Income from continuing operations available for common unitholders $ 58,611 $ 32,897 $ 129,805 $ 92,692
Income from discontinued operations available for common unitholders 0 0 0 418,593
Net income available for common unitholders $ 58,611 $ 32,897 $ 129,805 $ 511,285
v3.8.0.1
Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Comprehensive income:        
Net income $ 59,549 $ 33,840 $ 132,588 $ 514,103
Other comprehensive income/(loss):        
Unrealized gains/(losses) on cash flow hedges (347) 1,610 (31) (7,785)
Amortization of cash flow hedges 211 758 992 2,336
Total other comprehensive income/(loss) (136) 2,368 961 (5,449)
Total comprehensive income 59,413 36,208 133,549 508,654
Less-comprehensive (income) attributable to noncontrolling interests (1,886) (1,245) (4,416) (15,817)
Comprehensive income attributable to common stockholders/Comprehensive income attributable to common unitholders 57,527 34,963 129,133 492,837
Highwoods Realty Limited Partnership [Member]        
Comprehensive income:        
Net income 59,549 33,840 132,588 514,103
Other comprehensive income/(loss):        
Unrealized gains/(losses) on cash flow hedges (347) 1,610 (31) (7,785)
Amortization of cash flow hedges 211 758 992 2,336
Total other comprehensive income/(loss) (136) 2,368 961 (5,449)
Total comprehensive income 59,413 36,208 133,549 508,654
Less-comprehensive (income) attributable to noncontrolling interests (315) (319) (914) (941)
Comprehensive income attributable to common stockholders/Comprehensive income attributable to common unitholders $ 59,098 $ 35,889 $ 132,635 $ 507,713
v3.8.0.1
Consolidated Statements of Equity/Capital - USD ($)
$ in Thousands
Total
Highwoods Realty Limited Partnership [Member]
Common Stock [Member]
Series A Cumulative Redeemable Preferred Shares [Member]
General Partners' Common Units [Member]
Highwoods Realty Limited Partnership [Member]
Limited Partners' Common Units [Member]
Highwoods Realty Limited Partnership [Member]
Additional Paid-in Capital [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Highwoods Realty Limited Partnership [Member]
Noncontrolling Interests in Consolidated Affiliates [Member]
Noncontrolling Interests in Consolidated Affiliates [Member]
Highwoods Realty Limited Partnership [Member]
Distributions in Excess of Net Income Available for Common Stockholders [Member]
Balance (in shares) at Dec. 31, 2015     96,091,932                  
Balance at Dec. 31, 2015 $ 1,619,282 $ 1,590,232 $ 961 $ 29,050 $ 15,759 $ 1,560,309 $ 2,598,242 $ (3,811) $ (3,811) $ 17,975 $ 17,975 $ (1,023,135)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Issuances of Common Units, net of issuance costs and tax withholdings   187,214     1,872 185,342            
Distributions on Common Units   (127,391)     (1,274) (126,117)            
Distributions on Preferred Units   (1,877)     (19) (1,858)            
Issuances of Common Stock, net of issuance costs and tax withholdings - Shares     3,930,262                  
Issuances of Common Stock, net of issuance costs and tax withholdings 187,214   $ 39       187,175          
Conversions of Common Units to Common Stock - Shares     60,048                  
Conversions of Common Units to Common Stock 3,006           3,006          
Dividends on Common Stock (124,228)                     (124,228)
Dividends on Preferred Stock (1,877)                     (1,877)
Adjustment of noncontrolling interests in the Operating Partnership to fair value (13,390)           (13,390)          
Distributions to noncontrolling interests in consolidated affiliates (966) (966)               (966) (966)  
Issuances of restricted stock - shares     130,752                  
Issuances of restricted stock 0                      
Redemptions/repurchases of Preferred Stock (130)     (130)                
Share-based compensation expense, net of forfeitures - shares     (8,888)                  
Share-based compensation expense, net of forfeitures 5,412 5,412 $ 2   54 5,358 5,410          
Adjustment of Redeemable Common Units to fair value and contributions/distributions from/to the General Partner   (22,097)     (221) (21,876)            
Net (income) attributable to noncontrolling interests in the Operating Partnership (14,876)                     (14,876)
Net (income) attributable to noncontrolling interests in consolidated affiliates 0 0     (9) (932)       941 941 (941)
Comprehensive income:                        
Net income 514,103 514,103     5,141 508,962           514,103
Other comprehensive income/(loss) (5,449) (5,449)           (5,449) (5,449)      
Total comprehensive income 508,654 508,654                    
Balance (in shares) at Sep. 30, 2016     100,204,106                  
Balance at Sep. 30, 2016 $ 2,168,101 2,139,181 $ 1,002 28,920 21,303 2,109,188 2,780,443 (9,260) (9,260) 17,950 17,950 (650,954)
Balance (in shares) at Dec. 31, 2016 101,665,554   101,665,554                  
Balance at Dec. 31, 2016 $ 2,154,316 2,125,396 $ 1,017 28,920 21,023 2,081,463 2,850,881 4,949 4,949 17,961 17,961 (749,412)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Issuances of Common Units, net of issuance costs and tax withholdings   70,307     703 69,604            
Distributions on Common Units   (138,577)     (1,386) (137,191)            
Distributions on Preferred Units   (1,869)     (19) (1,850)            
Issuances of Common Stock, net of issuance costs and tax withholdings - Shares     1,464,638                  
Issuances of Common Stock, net of issuance costs and tax withholdings 70,307   $ 15       70,292          
Conversions of Common Units to Common Stock - Shares     8,000                  
Conversions of Common Units to Common Stock 408           408          
Dividends on Common Stock (135,375)                     (135,375)
Dividends on Preferred Stock (1,869)                     (1,869)
Adjustment of noncontrolling interests in the Operating Partnership to fair value (3,297)           (3,297)          
Distributions to noncontrolling interests in consolidated affiliates (1,231) (1,231)               (1,231) (1,231)  
Issuances of restricted stock - shares     110,748                  
Issuances of restricted stock 0                      
Redemptions/repurchases of Preferred Stock (28)     (28)                
Share-based compensation expense, net of forfeitures - shares     0                  
Share-based compensation expense, net of forfeitures 5,764 5,764     58 5,706 5,764          
Adjustment of Redeemable Common Units to fair value and contributions/distributions from/to the General Partner   (3,189)     (31) (3,158)            
Net (income) attributable to noncontrolling interests in the Operating Partnership (3,502)                     (3,502)
Net (income) attributable to noncontrolling interests in consolidated affiliates 0 0     (9) (905)       914 914 (914)
Comprehensive income:                        
Net income 132,588 132,588     1,326 131,262           132,588
Other comprehensive income/(loss) 961 961           961 961      
Total comprehensive income $ 133,549 133,549                    
Balance (in shares) at Sep. 30, 2017 103,248,940   103,248,940                  
Balance at Sep. 30, 2017 $ 2,219,042 $ 2,190,150 $ 1,032 $ 28,892 $ 21,665 $ 2,144,931 $ 2,924,048 $ 5,910 $ 5,910 $ 17,644 $ 17,644 $ (758,484)
v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Operating activities:    
Net income $ 132,588 $ 514,103
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 168,934 161,734
Amortization of lease incentives and acquisition-related intangible assets and liabilities (666) (1,599)
Share-based compensation expense 5,764 5,412
Allowance for losses on accounts and accrued straight-line rents receivable 435 1,846
Accrued interest on mortgages and notes receivable (391) (364)
Amortization of debt issuance costs 2,445 2,645
Amortization of cash flow hedges 992 2,336
Amortization of mortgages and notes payable fair value adjustments 422 (175)
Impairments of real estate assets 1,445 0
Gains on debt extinguishment (826) 0
Net gains on disposition of property (25,181) (428,656)
Equity in earnings of unconsolidated affiliates (6,757) (5,010)
Distributions of earnings from unconsolidated affiliates 4,815 3,936
Settlement of cash flow hedges 7,322 0
Changes in operating assets and liabilities:    
Accounts receivable 916 4,798
Prepaid expenses and other assets 2,735 (2,243)
Accrued straight-line rents receivable (24,473) (18,931)
Accounts payable, accrued expenses and other liabilities (308) (7,447)
Net cash provided by operating activities 270,211 232,385
Investing activities:    
Investments in acquired real estate and related intangible assets, net of cash acquired 0 (110,249)
Investments in development in-process (121,367) (122,839)
Investments in tenant improvements and deferred leasing costs (78,691) (63,715)
Investments in building improvements (41,862) (51,714)
Net proceeds from disposition of real estate assets 85,538 680,994
Distributions of capital from unconsolidated affiliates 11,670 2,639
Investments in mortgages and notes receivable 0 (7,934)
Repayments of mortgages and notes receivable 2,435 869
Investments in and advances to unconsolidated affiliates (10,063) (105)
Repayments from unconsolidated affiliates 0 448
Changes in restricted cash and other investing activities (24,225) (23,310)
Net cash provided by/(used in) investing activities (176,565) 305,084
Financing activities:    
Dividends on Common Stock (135,375) (124,228)
Special dividend on Common Stock (81,205) 0
Redemptions/repurchases of Preferred Stock (28) (130)
Dividends on Preferred Stock (1,869) (1,877)
Distributions to noncontrolling interests in the Operating Partnership (3,742) (3,684)
Special distribution to noncontrolling interests in the Operating Partnership (2,271) 0
Distributions to noncontrolling interests in consolidated affiliates (1,231) (966)
Proceeds from the issuance of Common Stock 75,517 194,518
Costs paid for the issuance of Common Stock (1,244) (2,888)
Repurchase of shares related to tax withholdings (3,966) (4,416)
Borrowings on revolving credit facility 492,300 257,800
Repayments of revolving credit facility (420,300) (528,800)
Borrowings on mortgages and notes payable 456,001 75,000
Repayments of mortgages and notes payable (507,114) (395,455)
Payments of debt extinguishment costs (57) 0
Changes in debt issuance costs and other financing activities (3,688) (992)
Net cash used in financing activities (138,272) (536,118)
Net increase/(decrease) in cash and cash equivalents (44,626) 1,351
Cash and cash equivalents at beginning of the period 49,490 5,036
Cash and cash equivalents at end of the period 4,864 6,387
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 50,025 58,138
Supplemental disclosure of non-cash investing and financing activities:    
Unrealized losses on cash flow hedges (31) (7,785)
Conversions of Common Units to Common Stock 408 3,006
Changes in accrued capital expenditures (6,327) 25,037
Write-off of fully depreciated real estate assets 41,860 28,783
Write-off of fully amortized leasing costs 28,343 16,075
Write-off of fully amortized debt issuance costs 4,324 916
Adjustment of noncontrolling interests in the Operating Partnership to fair value 3,297 13,390
Highwoods Realty Limited Partnership [Member]    
Operating activities:    
Net income 132,588 514,103
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 168,934 161,734
Amortization of lease incentives and acquisition-related intangible assets and liabilities (666) (1,599)
Share-based compensation expense 5,764 5,412
Allowance for losses on accounts and accrued straight-line rents receivable 435 1,846
Accrued interest on mortgages and notes receivable (391) (364)
Amortization of debt issuance costs 2,445 2,645
Amortization of cash flow hedges 992 2,336
Amortization of mortgages and notes payable fair value adjustments 422 (175)
Impairments of real estate assets 1,445 0
Gains on debt extinguishment (826) 0
Net gains on disposition of property (25,181) (428,656)
Equity in earnings of unconsolidated affiliates (6,757) (5,010)
Distributions of earnings from unconsolidated affiliates 4,815 3,523
Settlement of cash flow hedges 7,322 0
Changes in operating assets and liabilities:    
Accounts receivable 916 4,798
Prepaid expenses and other assets 2,735 (2,243)
Accrued straight-line rents receivable (24,473) (18,931)
Accounts payable, accrued expenses and other liabilities (308) (7,447)
Net cash provided by operating activities 270,211 231,972
Investing activities:    
Investments in acquired real estate and related intangible assets, net of cash acquired 0 (110,249)
Investments in development in-process (121,367) (122,839)
Investments in tenant improvements and deferred leasing costs (78,691) (63,715)
Investments in building improvements (41,862) (51,714)
Net proceeds from disposition of real estate assets 85,538 680,994
Distributions of capital from unconsolidated affiliates 11,670 3,052
Investments in mortgages and notes receivable 0 (7,934)
Repayments of mortgages and notes receivable 2,435 869
Investments in and advances to unconsolidated affiliates (10,063) (105)
Repayments from unconsolidated affiliates 0 448
Changes in restricted cash and other investing activities (24,225) (23,310)
Net cash provided by/(used in) investing activities (176,565) 305,497
Financing activities:    
Distributions on Common Units (138,577) (127,391)
Special distribution on Common Units (83,149) 0
Redemptions/repurchases of Preferred Units (28) (130)
Distributions on Preferred Units (1,869) (1,877)
Distributions to noncontrolling interests in consolidated affiliates (1,231) (966)
Proceeds from the issuance of Common Units 75,517 194,518
Costs paid for the issuance of Common Units (1,244) (2,888)
Repurchase of units related to tax withholdings (3,966) (4,416)
Borrowings on revolving credit facility 492,300 257,800
Repayments of revolving credit facility (420,300) (528,800)
Borrowings on mortgages and notes payable 456,001 75,000
Repayments of mortgages and notes payable (507,114) (395,455)
Payments of debt extinguishment costs (57) 0
Changes in debt issuance costs and other financing activities (4,555) (1,513)
Net cash used in financing activities (138,272) (536,118)
Net increase/(decrease) in cash and cash equivalents (44,626) 1,351
Cash and cash equivalents at beginning of the period 49,490 5,036
Cash and cash equivalents at end of the period 4,864 6,387
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 50,025 58,138
Supplemental disclosure of non-cash investing and financing activities:    
Unrealized losses on cash flow hedges (31) (7,785)
Changes in accrued capital expenditures (6,327) 25,037
Write-off of fully depreciated real estate assets 41,860 28,783
Write-off of fully amortized leasing costs 28,343 16,075
Write-off of fully amortized debt issuance costs 4,324 916
Adjustment of Redeemable Common Units to fair value $ 2,649 $ 21,576
v3.8.0.1
Description of Business and Significant Accounting Policies
9 Months Ended
Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Description of Business and Significant Accounting Policies
Description of Business and Significant Accounting Policies

Description of Business

Highwoods Properties, Inc. (the “Company”) is a fully integrated real estate investment trust (“REIT”) that provides leasing, management, development, construction and other customer-related services for its properties and for third parties. The Company conducts its activities through Highwoods Realty Limited Partnership (the “Operating Partnership”). At September 30, 2017, we owned or had an interest in 30.9 million rentable square feet of in-service properties, 0.6 million rentable square feet of properties under development and approximately 400 acres of development land.
 
The Company is the sole general partner of the Operating Partnership. At September 30, 2017, the Company owned all of the Preferred Units and 102.8 million, or 97.3%, of the Common Units in the Operating Partnership. Limited partners owned the remaining 2.8 million Common Units. During the nine months ended September 30, 2017, the Company redeemed 8,000 Common Units for a like number of shares of Common Stock.

Common Stock Offerings
 
During the first quarter of 2017, 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 nine months ended September 30, 2017, the Company issued 1,363,919 shares of Common Stock under its equity distribution agreements at an average gross sales price of $50.85 per share and received net proceeds, after sales commissions, of $68.3 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. 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 2016 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.

1.    Description of Business and Significant Accounting Policies – Continued

Recently Issued Accounting Standards

The Financial Accounting Standards Board ("FASB") issued an accounting standards update ("ASU") that requires the use of a new five-step model to recognize revenue from customer contracts. The five-step model requires that we identify the contract with the customer, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price to the performance obligations in the contract and recognize revenue when we satisfy the performance obligations. We will also be required to disclose information regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Upon adoption of the ASU in 2018, we expect to utilize the modified retrospective approach. We are currently conducting our analysis of the impact of the guidance on our Consolidated Financial Statements, including our internal control processes, and have an active project team working on the evaluation and implementation of the guidance. Our analysis of our non-lease related revenue contracts, which include primarily real estate sales, management, development and construction fee income and transient parking income, indicates that the adoption of this ASU will impact the financial statement disclosure of these contracts with no material impact on the timing of revenue recognition; however, we continue to evaluate the impacts of adoption of this ASU. We expect additional impact of this ASU upon adoption of the ASU related to accounting for leases discussed below for certain lease revenue streams that will be required to be evaluated as non-lease components using the five-step revenue recognition model.
 
The FASB issued an ASU that adds to and clarifies guidance on the classification of certain cash receipts and payments in the statement of cash flows. The ASU is required to be adopted in 2018 with retrospective application required. We do not expect such adoption to have a material effect on our Consolidated Statements of Cash Flows.

The FASB issued an ASU that clarifies and narrows the definition of a business used in determining whether to account for a transaction as an asset acquisition or business combination. The guidance requires evaluation of the fair value of the assets acquired to determine if it is concentrated in a single identifiable asset or a group of similar identifiable assets. If so, the transferred assets would not be a business. The guidance also requires a business to include at least one substantive process and narrows the definition of outputs. The ASU is required to be adopted in 2018 and applied prospectively. Upon adoption of this ASU, we expect that the majority of our future acquisitions would not meet the definition of a business; therefore, the related acquisition costs would be capitalized as part of the purchase price.

The FASB issued an ASU that clarifies when changes to the terms or conditions of a share-based payment award must be accounted for as modifications. The guidance requires modification accounting if the value, vesting conditions or classification of the award changes. The ASU is required to be adopted in 2018 and applied prospectively. We do not expect such adoption to have a material effect on our Consolidated Financial Statements.

The FASB issued an ASU which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both lessees and lessors. We are currently conducting our initial analysis of the impact of the guidance on our Consolidated Financial Statements and have an active project team working on the evaluation and implementation of the guidance. We currently believe that the adoption of the ASU will not significantly change the accounting for operating leases on our Consolidated Balance Sheets where we are the lessor, and that such leases will be accounted for in a similar method to existing standards with the underlying leased asset being reported and recognized as a real estate asset. In addition, the guidance requires lessors to capitalize and amortize only incremental direct leasing costs. As a result, we expect that upon the adoption of the ASU, we will no longer be able to capitalize and amortize certain leasing related costs and instead will expense these costs as incurred. We are in the process of evaluating the impact to our results of operations of expensing such costs. The ASU is required to be adopted in 2019 using a modified retrospective approach. Our initial analysis of our leases also indicates that upon adoption of the ASU, certain lease revenue streams that are currently accounted for using the lease accounting standard will be accounted for as non-lease components using the five-step revenue recognition model discussed above. We continue to evaluate other impacts of adoption of this ASU.

The FASB issued an ASU that eliminates the requirement to separately measure and report hedge ineffectiveness and generally requires the entire change in the fair value of a hedging instrument to be presented in the same income statement line as the hedged item when the hedged item affects earnings. The ASU is required to be adopted in 2019 using a modified retrospective approach. We do not expect such adoption to have a material effect on our Consolidated Financial Statements.

1.    Description of Business and Significant Accounting Policies – Continued

The FASB issued an ASU that requires, among other things, the use of a new current expected credit loss ("CECL") model in determining our allowances for doubtful accounts with respect to accounts receivable, accrued straight-line rents receivable and mortgages and notes receivable. The CECL model requires that we estimate our lifetime expected credit loss with respect to these receivables and record allowances that, when deducted from the balance of the receivables, represent the net amounts expected to be collected. We will also be required to disclose information about how we developed the allowances, including changes in the factors (e.g., portfolio mix, credit trends, unemployment, gross domestic product, etc.) that influenced our estimate of expected credit losses and the reasons for those changes. We will apply the ASU’s provisions as a cumulative-effect adjustment to retained earnings upon adoption in 2020. We are in the process of evaluating this ASU.
v3.8.0.1
Real Estate Assets
9 Months Ended
Sep. 30, 2017
Real Estate [Abstract]  
Real Estate Assets
Real Estate Assets
Dispositions

During the third quarter of 2017, we sold a total of 12 buildings for an aggregate sale price of $78.0 million (before closing credits to buyer of $2.5 million) and recorded aggregate gains on disposition of property of $19.8 million.

During the first quarter of 2017, we sold a building for a sale price of $13.0 million (before closing credits to buyer of $1.2 million) and recorded a gain on disposition of property of $5.3 million.

Impairments

During the third quarter of 2017, we recorded aggregate impairments of real estate assets of $1.4 million, which resulted from a change in market-based inputs and our assumptions about the use of the assets.
v3.8.0.1
Mortgages and Notes Receivable
9 Months Ended
Sep. 30, 2017
Receivables [Abstract]  
Mortgages and Notes Receivable
Mortgages and Notes Receivable
Mortgages and notes receivable were $6.8 million and $8.8 million at September 30, 2017 and December 31, 2016, respectively. We evaluate the ability to collect our mortgages and notes receivable by monitoring the leasing statistics and/or market fundamentals of these assets. As of September 30, 2017, our mortgages and notes receivable were not in default and there were no other indicators of impairment.
v3.8.0.1
Intangible Assets and Below Market Lease Liabilities
9 Months Ended
Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Below Market Lease Liabilities
Intangible Assets and Below Market Lease Liabilities
 
The following table sets forth total intangible assets and acquisition-related below market lease liabilities, net of accumulated amortization:
 
 
September 30,
2017
 
December 31,
2016
Assets:
 
 
 
Deferred leasing costs (including lease incentives and above market lease and in-place lease acquisition-related intangible assets)
$
348,628

 
$
353,581

Less accumulated amortization
(145,814
)
 
(140,081
)
 
$
202,814

 
$
213,500

Liabilities (in accounts payable, accrued expenses and other liabilities):
 
 
 
Acquisition-related below market lease liabilities
$
60,304

 
$
61,221

Less accumulated amortization
(26,905
)
 
(23,074
)
 
$
33,399

 
$
38,147

 
The following table sets forth amortization of intangible assets and below market lease liabilities:
 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2017
 
2016
 
2017
 
2016
Amortization of deferred leasing costs and acquisition-related intangible assets (in depreciation and amortization)
$
10,130

 
$
10,111

 
$
30,882

 
$
33,177

Amortization of lease incentives (in rental and other revenues)
$
444

 
$
273

 
$
1,284

 
$
1,374

Amortization of acquisition-related intangible assets (in rental and other revenues)
$
671

 
$
901

 
$
2,382

 
$
2,904

Amortization of acquisition-related intangible assets (in rental property and other expenses)
$
140

 
$
140

 
$
416

 
$
417

Amortization of acquisition-related below market lease liabilities (in rental and other revenues)
$
(1,576
)
 
$
(1,734
)
 
$
(4,748
)
 
$
(6,294
)

The following table sets forth scheduled future amortization of intangible assets and below market lease liabilities:
 
 
 
Amortization of Deferred Leasing Costs and Acquisition-Related Intangible Assets (in Depreciation and Amortization)
 
Amortization of Lease Incentives (in Rental and Other Revenues)
 
Amortization of Acquisition-Related Intangible Assets (in Rental and Other Revenues)
 
Amortization of Acquisition-Related Intangible Assets (in Rental Property and Other Expenses)
 
Amortization of Acquisition-Related Below Market Lease Liabilities (in Rental and Other Revenues)
October 1 through December 31, 2017
 
$
10,019

 
$
427

 
$
469

 
$
134

 
$
(1,497
)
2018
 
35,970

 
1,599

 
1,680

 
553

 
(5,962
)
2019
 
30,311

 
1,377

 
1,286

 
553

 
(5,492
)
2020
 
25,589

 
1,101

 
967

 
525

 
(5,180
)
2021
 
21,254

 
886

 
647

 

 
(4,409
)
Thereafter
 
61,333

 
4,249

 
1,885

 

 
(10,859
)
 
 
$
184,476

 
$
9,639

 
$
6,934

 
$
1,765

 
$
(33,399
)
Weighted average remaining amortization periods as of September 30, 2017 (in years)
 
7.6

 
9.5

 
6.5

 
3.2

 
6.8

v3.8.0.1
Mortgages and Notes Payable
9 Months Ended
Sep. 30, 2017
Debt Disclosure [Abstract]  
Mortgages and Notes Payable
Mortgages and Notes Payable
 
The following table sets forth our mortgages and notes payable:
 
 
September 30,
2017
 
December 31,
2016
Secured indebtedness
$
99,421

 
$
128,204

Unsecured indebtedness
1,875,239

 
1,826,145

Less-unamortized debt issuance costs
(8,262
)
 
(6,302
)
Total mortgages and notes payable, net
$
1,966,398

 
$
1,948,047


 
At September 30, 2017, our secured mortgage loans were collateralized by real estate assets with an aggregate undepreciated book value of $147.7 million.
 
At September 30, 2017, we had a $475.0 million unsecured revolving credit facility that was scheduled to mature in January 2018. The interest rate was LIBOR plus 110 basis points and the annual facility fee was 20 basis points. There was $72.0 million outstanding under our revolving credit facility at September 30, 2017 and $0.6 million of outstanding letters of credit, which reduced the availability on the credit facility. As a result, the unused capacity of our revolving credit facility at September 30, 2017 was $402.4 million.
 
During the second quarter of 2017, we prepaid without penalty a secured mortgage loan with a fair market value of $108.2 million with an effective interest rate of 4.22% that was originally scheduled to mature in November 2017. We recorded $0.4 million of gain on debt extinguishment related to this prepayment.
 
During 2015, we acquired our joint venture partner’s 77.2% interest in a building in Orlando. Simultaneously with this acquisition, the joint venture's previously existing mortgage note was restructured into a new $18.0 million first mortgage note and a $10.2 million subordinated note, both of which were scheduled to mature in July 2017. The first mortgage and subordinated notes had effective interest rates of 5.36% and 8.6%, respectively. The subordinated note and accrued interest thereon can be satisfied, in certain circumstances, upon payment of a "waterfall payment" equal to a cash payment of 50.0% of the amount by which the net sale proceeds or appraised value at the time of refinancing exceeded (1) the outstanding principal of the first mortgage note, (2) funds deposited by us into escrow to fund tenant improvements, leasing commissions and building improvements and (3) a 10.0% return on such funds deposited by us into escrow. As of the date of such restructuring, the subordinated note was recorded at a projected waterfall payment of $1.0 million. During the second quarter of 2017, both notes were retired upon payment of the $18.0 million principal balance on the first mortgage note and a $0.5 million waterfall payment relating to the subordinated note, which resulted in $0.4 million of gain on debt extinguishment.
 
During the second quarter of 2017, we obtained a $100.0 million secured mortgage loan from a third party lender with an effective interest rate of 4.0%. This loan is scheduled to mature in May 2029. We incurred $0.8 million of debt issuance costs in connection with this loan, which will be amortized over the term of the loan.
 
During the first quarter of 2017, the Operating Partnership issued $300.0 million aggregate principal amount of 3.875% notes due 2027, less original issue discount of $4.0 million. These notes were priced to yield 4.038%. Underwriting fees and other expenses were incurred that aggregated $2.5 million; these costs were deferred and will be amortized over the term of the notes.
 
During the first quarter of 2017, we paid off at maturity $379.7 million principal amount of 5.85% unsecured notes.
 
During the first quarter of 2017, we amended our $150.0 million unsecured bank term loan that is scheduled to mature in January 2022 by increasing the borrowed amount to $200.0 million. The interest rate on this term loan at our current credit ratings is LIBOR plus 110 basis points. The underlying LIBOR rate with respect to $50.0 million of the unsecured bank term loan has been effectively fixed for the term through floating-to-fixed interest rate swaps as discussed in Note 6. We incurred $0.3 million of debt issuance costs in connection with this amendment, which will be amortized along with existing unamortized debt issuance costs over the remaining term.

5.    Mortgages and Notes Payable - Continued
 
We are currently in compliance with financial covenants and other requirements with respect to our consolidated debt.
 
We have considered our short-term liquidity needs within one year from October 24, 2017 (the date of issuance of the quarterly financial statements) and the adequacy of our estimated cash flows from operating activities and other expected financing sources to meet these needs. In particular, we have considered our scheduled debt maturities during such one-year period, including the $200.0 million principal amount of unsecured notes due April 15, 2018. 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 (some of which debt securities may be hedged to a fixed interest rate pursuant to the forward-starting swaps referred to in Note 6);
 
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.
v3.8.0.1
Derivative Financial Instruments
9 Months Ended
Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments
Derivative Financial Instruments

During the second quarter of 2017, we entered into $150.0 million notional amount of forward-starting swaps that effectively lock the underlying 10-year treasury rate at 2.44% with respect to a planned issuance of debt securities by the Operating Partnership expected to occur prior to May 15, 2018.

During the second quarter of 2017, we entered into floating-to-fixed interest rate swaps through January 2022 with respect to an aggregate of $50.0 million LIBOR-based borrowings. These swaps effectively fix the underlying one-month LIBOR rate at a weighted average rate of 1.693%.

During 2016, we entered into $150.0 million notional amount of forward-starting swaps that effectively locked the underlying 10-year treasury rate at 1.90% with respect to a planned issuance of debt securities by the Operating Partnership. Upon issuance of the $300.0 million aggregate principal amount of 3.875% notes due 2027 during the first quarter of 2017, we terminated the forward-starting swaps resulting in an unrealized gain of $7.3 million in accumulated other comprehensive income.

The counterparties under these swaps are major financial institutions. The swap agreements contain a provision whereby if we default on certain of our indebtedness and which default results in repayment of such indebtedness being, or becoming capable of being, accelerated by the lender, then we could also be declared in default on our swaps.

Our interest rate swaps have been designated as and are being accounted for as cash flow hedges with changes in fair value recorded in other comprehensive income/(loss) each reporting period. No gain or loss was recognized related to hedge ineffectiveness or to amounts excluded from effectiveness testing on our cash flow hedges during the nine months ended September 30, 2017 and 2016. We have no collateral requirements related to our interest rate swaps.
 
Amounts reported in accumulated other comprehensive income/(loss) related to derivatives will be reclassified to interest expense as interest payments are made on our variable-rate debt. During the period from October 1, 2017 through September 30, 2018, we estimate that less than $0.1 million will be reclassified as a net increase to interest expense.
 

6.
Derivative Financial Instruments - Continued

The following table sets forth the gross fair value of our derivatives:
 
 
September 30,
2017
 
December 31,
2016
Derivatives:
 
 
 
Derivatives designated as cash flow hedges in prepaid expenses and other assets:
 
 
 
Interest rate swaps
$
306

 
$
7,619

Derivatives designated as cash flow hedges in accounts payable, accrued expenses and other liabilities:
 
 
 
Interest rate swaps
$
1,059

 
$
1,870


 
The following table sets forth the effect of our cash flow hedges on accumulated other comprehensive income/(loss) and interest expense:
 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2017
 
2016
 
2017
 
2016
Derivatives Designated as Cash Flow Hedges:
 
 
 
 
 
 
 
Amount of unrealized gains/(losses) recognized in accumulated other comprehensive income/(loss) on derivatives (effective portion):
 
 
 
 
 
 
 
Interest rate swaps
$
(347
)
 
$
1,610

 
$
(31
)
 
$
(7,785
)
Amount of net losses reclassified out of accumulated other comprehensive income/(loss) into contractual interest expense (effective portion):
 
 
 
 
 
 
 
Interest rate swaps
$
211

 
$
758

 
$
992

 
$
2,336

v3.8.0.1
Noncontrolling Interests
9 Months Ended
Sep. 30, 2017
Noncontrolling Interest [Abstract]  
Noncontrolling Interests
Noncontrolling Interests

Noncontrolling Interests in Consolidated Affiliates
 
At September 30, 2017, our noncontrolling interests in consolidated affiliates relate to our joint venture partner's 50.0% interest in office properties in Richmond. Our joint venture partner is an unrelated third party.

Noncontrolling Interests in the Operating Partnership

The following table sets forth the Company's noncontrolling interests in the Operating Partnership:
 
 
Nine Months Ended
September 30,
 
2017
 
2016
Beginning noncontrolling interests in the Operating Partnership
$
144,802

 
$
126,429

Adjustment of noncontrolling interests in the Operating Partnership to fair value
3,297

 
13,390

Conversions of Common Units to Common Stock
(408
)
 
(3,006
)
Net income attributable to noncontrolling interests in the Operating Partnership
3,502

 
14,876

Distributions to noncontrolling interests in the Operating Partnership
(3,742
)
 
(3,684
)
Total noncontrolling interests in the Operating Partnership
$
147,451

 
$
148,005


7.
Noncontrolling Interests - Continued

The following table sets forth net income available for common stockholders and transfers from the Company's noncontrolling interests in the Operating Partnership:
 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2017
 
2016
 
2017
 
2016
Net income available for common stockholders
$
57,040

 
$
31,971

 
$
126,303

 
$
496,409

Increase in additional paid in capital from conversions of Common Units
to Common Stock
103

 
1,448

 
408

 
3,006

Change from net income available for common stockholders and transfers from noncontrolling interests
$
57,143

 
$
33,419

 
$
126,711

 
$
499,415

v3.8.0.1
Disclosure About Fair Value of Financial Instruments
9 Months Ended
Sep. 30, 2017
Fair Value Disclosures [Abstract]  
Disclosure About Fair Value of Financial Instruments
Disclosure About Fair Value of Financial Instruments

The following summarizes the three 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 and certain interest rate swaps. Our Level 2 liabilities include the fair value of our mortgages and notes payable and remaining interest rate swaps.

The fair value of mortgages and notes receivable and mortgages and notes payable is estimated by the income approach utilizing contractual cash flows and market-based interest rates to approximate the price that would be paid in an orderly transaction between market participants. The fair value of interest rate swaps is determined using the market standard methodology of netting the discounted future fixed cash receipts and the discounted expected variable cash payments. The variable cash payments of interest rate swaps are based on the expectation of future interest rates (forward curves) derived from observed market interest rate curves. In addition, credit valuation adjustments are considered in the fair values to account for potential nonperformance risk, but were concluded to not be significant inputs to the calculation for the periods presented.
 
Level 3. Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
 
Our Level 3 assets included (1) any real estate assets recorded at fair value on a non-recurring basis as a result of our quarterly impairment analysis, which were valued using the terms of definitive sales contracts or the sales comparison approach, and (2) our tax increment financing bond, which was not routinely traded but whose fair value was determined by the income approach utilizing contractual cash flows and market-based interest rates to estimate the projected redemption value based on quoted bid/ask prices for similar unrated municipal bonds. Our tax increment financing bond was assigned in conjunction with a sale during the first quarter of 2016. The estimated fair value at the date of sale of $11.2 million was equal to the outstanding principal amount due on the bond.
 

8.
Disclosure About Fair Value of Financial Instruments - Continued

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 1
 
Level 2
 
Level 3
 
 
Total
 
Quoted Prices
in Active
Markets for Identical Assets or Liabilities
 
Significant Observable Inputs
 
Significant Unobservable Inputs
Fair Value at September 30, 2017:
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
Mortgages and notes receivable, at fair value (1)
 
$
6,789

 
$

 
$
6,789

 
$

Interest rate swaps (in prepaid expenses and other assets)
 
306

 

 
306

 

Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets)
 
2,269

 
2,269

 

 

Impaired real estate assets
 
5,888

 

 

 
5,888

Total Assets
 
$
15,252

 
$
2,269

 
$
7,095

 
$
5,888

Noncontrolling Interests in the Operating Partnership
 
$
147,451

 
$
147,451

 
$

 
$

Liabilities:
 
 
 
 
 
 
 
 
Mortgages and notes payable, net, at fair value (1)
 
$
1,983,723

 
$

 
$
1,983,723

 
$

Interest rate swaps (in accounts payable, accrued expenses and other liabilities)
 
1,059

 

 
1,059

 

Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities)
 
2,269

 
2,269

 

 

Total Liabilities
 
$
1,987,051

 
$
2,269

 
$
1,984,782

 
$

Fair Value at December 31, 2016:
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
Mortgages and notes receivable, at fair value (1)
 
$
8,833

 
$

 
$
8,833

 
$

Interest rate swaps (in prepaid expenses and other assets)
 
7,619

 

 
7,619

 

Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets)
 
2,451

 
2,451

 

 

Total Assets
 
$
18,903

 
$
2,451

 
$
16,452

 
$

Noncontrolling Interests in the Operating Partnership
 
$
144,802

 
$
144,802

 
$

 
$

Liabilities:
 
 
 
 
 
 
 
 
Mortgages and notes payable, net, at fair value (1)
 
$
1,965,611

 
$

 
$
1,965,611

 
$

Interest rate swaps (in accounts payable, accrued expenses and other liabilities)
 
1,870

 

 
1,870

 

Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities)
 
2,451

 
2,451

 

 

Total Liabilities
 
$
1,969,932

 
$
2,451

 
$
1,967,481

 
$


__________
(1)    Amounts recorded at historical cost on our Consolidated Balance Sheets at September 30, 2017 and December 31, 2016.


8.
Disclosure About Fair Value of Financial Instruments - Continued
The impaired real estate assets that were measured in the third quarter of 2017 at fair value and deemed to be Level 3 assets were valued based primarily on market-based inputs and our assumptions about the use of the assets, as observable inputs were not available. In the absence of observable inputs, we estimate the fair value of real estate using unobservable local and national industry market data such as comparable sales, sales contracts and appraisals to assist us in our estimation of fair value. Significant increases or decreases in any valuation inputs in isolation would result in a significantly lower or higher fair value measurement.
v3.8.0.1
Share-Based Payments
9 Months Ended
Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share-Based Payments
Share-Based Payments
 
During the nine months ended September 30, 2017, the Company granted 168,748 stock options with an exercise price equal to the last reported stock price of our Common Stock on the New York Stock Exchange on the last trading day prior to the date of grant. The fair value of each option is estimated on the date of grant using the Black-Scholes option pricing model, which resulted in a weighted average grant date fair value per share of $6.72. During the nine months ended September 30, 2017, the Company also granted 61,404 shares of time-based restricted stock and 49,344 shares of total return-based restricted stock with weighted average grant date fair values per share of $52.49 and $49.59, respectively. We recorded share-based compensation expense of $0.9 million during each of the three months ended September 30, 2017 and 2016 and $5.8 million and $5.4 million during the nine months ended September 30, 2017 and 2016, respectively. At September 30, 2017, there was $6.1 million of total unrecognized share-based compensation costs, which will be recognized over a weighted average remaining contractual term of 2.3 years.
v3.8.0.1
Accumulated Other Comprehensive Income (Loss)
9 Months Ended
Sep. 30, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Income/(Loss)
Accumulated Other Comprehensive Income/(Loss)
 
The following table sets forth the components of accumulated other comprehensive income/(loss):
 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2017
 
2016
 
2017
 
2016
Cash flow hedges:
 
 
 
 
 
 
 
Beginning balance
$
6,046

 
$
(11,628
)
 
$
4,949

 
$
(3,811
)
Unrealized gains/(losses) on cash flow hedges
(347
)
 
1,610

 
(31
)
 
(7,785
)
Amortization of cash flow hedges (1)
211

 
758

 
992

 
2,336

Total accumulated other comprehensive income/(loss)
$
5,910


$
(9,260
)
 
$
5,910

 
$
(9,260
)
__________
(1)    Amounts reclassified out of accumulated other comprehensive income/(loss) into contractual interest expense.
v3.8.0.1
Discontinued Operations
9 Months Ended
Sep. 30, 2017
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
Discontinued Operations

The following tables set forth the results of operations for the three and nine months ended September 30, 2017 and 2016 and cash flows for the nine months ended September 30, 2017 and 2016 related to discontinued operations:
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2017
 
2016
 
2017
 
2016
Rental and other revenues
$

 
$

 
$

 
$
8,484

Operating expenses:
 
 
 
 
 
 
 
Rental property and other expenses

 

 

 
3,334

General and administrative

 

 

 
1,388

Total operating expenses

 

 

 
4,722

Interest expense

 

 

 
85

Other income

 

 

 
420

Income from discontinued operations

 

 

 
4,097

Net gains on disposition of discontinued operations

 

 

 
414,496

Total income from discontinued operations
$

 
$

 
$

 
$
418,593



 
Nine Months Ended
September 30,
 
2017
 
2016
Cash flows from operating activities
$

 
$
2,040

Cash flows from investing activities
$

 
$
417,097

v3.8.0.1
Earnings Per Share and Per Unit
9 Months Ended
Sep. 30, 2017
Earnings Per Share [Abstract]  
Earnings Per Share and Per Unit
Earnings Per Share and Per Unit

The following table sets forth the computation of basic and diluted earnings per share of the Company:

 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2017
 
2016
 
2017
 
2016
Earnings per Common Share - basic:
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
Income from continuing operations
$
59,549

 
$
33,840

 
$
132,588

 
$
95,510

Net (income) attributable to noncontrolling interests in the Operating Partnership from continuing operations
(1,571
)
 
(926
)
 
(3,502
)
 
(2,611
)
Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations
(315
)
 
(319
)
 
(914
)
 
(941
)
Dividends on Preferred Stock
(623
)
 
(624
)
 
(1,869
)
 
(1,877
)
Income from continuing operations available for common stockholders
57,040

 
31,971

 
126,303

 
90,081

Income from discontinued operations

 

 

 
418,593

Net (income) attributable to noncontrolling interests in the Operating Partnership from discontinued operations

 

 

 
(12,265
)
Income from discontinued operations available for common stockholders

 

 

 
406,328

Net income available for common stockholders
$
57,040

 
$
31,971

 
$
126,303

 
$
496,409

Denominator:
 
 
 
 
 
 
 
Denominator for basic earnings per Common Share – weighted average shares
103,237

 
98,973

 
102,489

 
97,669

Earnings per Common Share - basic:
 
 
 
 
 
 
 
Income from continuing operations available for common stockholders
$
0.55

 
$
0.32

 
$
1.23

 
$
0.92

Income from discontinued operations available for common stockholders

 

 

 
4.16

Net income available for common stockholders
$
0.55

 
$
0.32

 
$
1.23

 
$
5.08

Earnings per Common Share - diluted:
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
Income from continuing operations
$
59,549

 
$
33,840

 
$
132,588

 
$
95,510

Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations
(315
)
 
(319
)
 
(914
)
 
(941
)
Dividends on Preferred Stock
(623
)
 
(624
)
 
(1,869
)
 
(1,877
)
Income from continuing operations available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership
58,611

 
32,897

 
129,805

 
92,692

Income from discontinued operations available for common stockholders

 

 

 
418,593

Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership
$
58,611

 
$
32,897

 
$
129,805

 
$
511,285

Denominator:
 
 
 
 
 
 
 
Denominator for basic earnings per Common Share – weighted average shares
103,237

 
98,973

 
102,489

 
97,669

Add:
 
 
 
 
 
 
 
Stock options using the treasury method
76

 
108

 
79

 
94

Noncontrolling interests Common Units
2,832

 
2,858

 
2,834

 
2,882

Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions (1)
106,145

 
101,939

 
105,402

 
100,645

Earnings per Common Share - diluted:
 
 
 
 
 
 
 
Income from continuing operations available for common stockholders
$
0.55

 
$
0.32

 
$
1.23

 
$
0.92

Income from discontinued operations available for common stockholders

 

 

 
4.16

Net income available for common stockholders
$
0.55

 
$
0.32

 
$
1.23

 
$
5.08

__________
(1)
Includes all unvested restricted stock where dividends on such restricted stock are non-forfeitable.

12.
Earnings Per Share and Per Unit - Continued

The following table sets forth the computation of basic and diluted earnings per unit of the Operating Partnership:
 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2017
 
2016
 
2017
 
2016
Earnings per Common Unit - basic:
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
Income from continuing operations
$
59,549

 
$
33,840

 
$
132,588

 
$
95,510

Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations
(315
)
 
(319
)
 
(914
)
 
(941
)
Distributions on Preferred Units
(623
)
 
(624
)
 
(1,869
)
 
(1,877
)
Income from continuing operations available for common unitholders
58,611

 
32,897

 
129,805

 
92,692

Income from discontinued operations available for common unitholders

 

 

 
418,593

Net income available for common unitholders
$
58,611

 
$
32,897

 
$
129,805

 
$
511,285

Denominator:
 
 
 
 
 
 
 
Denominator for basic earnings per Common Unit – weighted average units
105,660

 
101,422

 
104,914

 
100,142

Earnings per Common Unit - basic:
 
 
 
 
 
 
 
Income from continuing operations available for common unitholders
$
0.55

 
$
0.32

 
$
1.24

 
$
0.93

Income from discontinued operations available for common unitholders

 

 

 
4.18

Net income available for common unitholders
$
0.55

 
$
0.32

 
$
1.24

 
$
5.11

Earnings per Common Unit - diluted:
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
Income from continuing operations
$
59,549

 
$
33,840

 
$
132,588

 
$
95,510

Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations
(315
)
 
(319
)
 
(914
)
 
(941
)
Distributions on Preferred Units
(623
)
 
(624
)
 
(1,869
)
 
(1,877
)
Income from continuing operations available for common unitholders
58,611

 
32,897

 
129,805

 
92,692

Income from discontinued operations available for common unitholders

 

 

 
418,593

Net income available for common unitholders
$
58,611

 
$
32,897

 
$
129,805

 
$
511,285

Denominator:
 
 
 
 
 
 
 
Denominator for basic earnings per Common Unit – weighted average units
105,660

 
101,422

 
104,914

 
100,142

Add:
 
 
 
 
 
 
 
Stock options using the treasury method
76

 
108

 
79

 
94

Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions (1)
105,736

 
101,530

 
104,993

 
100,236

Earnings per Common Unit - diluted:
 
 
 
 
 
 
 
Income from continuing operations available for common unitholders
$
0.55

 
$
0.32

 
$
1.24

 
$
0.92

Income from discontinued operations available for common unitholders

 

 

 
4.18

Net income available for common unitholders
$
0.55

 
$
0.32

 
$
1.24

 
$
5.10

__________
(1)
Includes all unvested restricted stock where distributions on such restricted stock are non-forfeitable.
v3.8.0.1
Segment Information
9 Months Ended
Sep. 30, 2017
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
September 30,
 
Nine Months Ended
September 30,
 
2017
 
2016
 
2017
 
2016
Rental and Other Revenues:
 
 
 
 
 
 
 
Office:
 
 
 
 
 
 
 
Atlanta
$
36,471

 
$
33,340

 
$
106,027

 
$
101,188

Greensboro
5,370

 
5,167

 
15,956

 
15,351

Memphis
11,459

 
12,330

 
35,077

 
36,275

Nashville
28,945

 
23,979

 
81,471

 
71,760

Orlando
13,309

 
11,678

 
38,183

 
34,360

Pittsburgh
14,719

 
14,386

 
44,420

 
43,721

Raleigh
30,524

 
27,767

 
90,167

 
84,013

Richmond
11,152

 
11,414

 
33,200

 
33,420

Tampa
25,072

 
22,836

 
72,578

 
67,088

Total Office Segment
177,021

 
162,897

 
517,079

 
487,176

Other
3,164

 
3,372

 
9,797

 
10,812

Total Rental and Other Revenues
$
180,185

 
$
166,269

 
$
526,876

 
$
497,988



13.
Segment Information - Continued

 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2017
 
2016
 
2017
 
2016
Net Operating Income:
 
 
 
 
 
 
 
Office:
 
 
 
 
 
 
 
Atlanta
$
23,600

 
$
20,718

 
$
68,150

 
$
63,681

Greensboro
3,367

 
3,187

 
10,116

 
9,544

Memphis
6,930

 
7,753

 
21,474

 
22,566

Nashville
21,000

 
17,042

 
59,250

 
51,470

Orlando
7,999

 
6,633

 
23,007

 
19,638

Pittsburgh
8,822

 
8,482

 
26,396

 
25,193

Raleigh
21,960

 
19,525

 
65,345

 
59,935

Richmond
6,987

 
7,602

 
22,453

 
22,718

Tampa
15,972

 
14,349

 
46,297

 
42,037

Total Office Segment
116,637

 
105,291

 
342,488

 
316,782

Other
2,314

 
2,358

 
6,904

 
7,491

Total Net Operating Income
118,951

 
107,649

 
349,392

 
324,273

Reconciliation to income from continuing operations before disposition of investment properties and activity in unconsolidated affiliates:
 
 
 
 
 
 
 
Depreciation and amortization
(56,973
)
 
(52,923
)
 
(168,934
)
 
(161,734
)
Impairments of real estate assets
(1,445
)
 

 
(1,445
)
 

General and administrative expenses
(9,247
)
 
(9,863
)
 
(29,787
)
 
(29,327
)
Interest expense
(17,191
)
 
(18,566
)
 
(51,208
)
 
(58,756
)
Other income
558

 
833

 
2,632

 
1,884

Income from continuing operations before disposition of investment properties and activity in unconsolidated affiliates
$
34,653

 
$
27,130

 
$
100,650

 
$
76,340

v3.8.0.1
Description of Business and Significant Accounting Policies (Policies)
9 Months Ended
Sep. 30, 2017
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. 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 2016 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.
Recently Issued Accounting Standards
Recently Issued Accounting Standards

The Financial Accounting Standards Board ("FASB") issued an accounting standards update ("ASU") that requires the use of a new five-step model to recognize revenue from customer contracts. The five-step model requires that we identify the contract with the customer, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price to the performance obligations in the contract and recognize revenue when we satisfy the performance obligations. We will also be required to disclose information regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Upon adoption of the ASU in 2018, we expect to utilize the modified retrospective approach. We are currently conducting our analysis of the impact of the guidance on our Consolidated Financial Statements, including our internal control processes, and have an active project team working on the evaluation and implementation of the guidance. Our analysis of our non-lease related revenue contracts, which include primarily real estate sales, management, development and construction fee income and transient parking income, indicates that the adoption of this ASU will impact the financial statement disclosure of these contracts with no material impact on the timing of revenue recognition; however, we continue to evaluate the impacts of adoption of this ASU. We expect additional impact of this ASU upon adoption of the ASU related to accounting for leases discussed below for certain lease revenue streams that will be required to be evaluated as non-lease components using the five-step revenue recognition model.
 
The FASB issued an ASU that adds to and clarifies guidance on the classification of certain cash receipts and payments in the statement of cash flows. The ASU is required to be adopted in 2018 with retrospective application required. We do not expect such adoption to have a material effect on our Consolidated Statements of Cash Flows.

The FASB issued an ASU that clarifies and narrows the definition of a business used in determining whether to account for a transaction as an asset acquisition or business combination. The guidance requires evaluation of the fair value of the assets acquired to determine if it is concentrated in a single identifiable asset or a group of similar identifiable assets. If so, the transferred assets would not be a business. The guidance also requires a business to include at least one substantive process and narrows the definition of outputs. The ASU is required to be adopted in 2018 and applied prospectively. Upon adoption of this ASU, we expect that the majority of our future acquisitions would not meet the definition of a business; therefore, the related acquisition costs would be capitalized as part of the purchase price.

The FASB issued an ASU that clarifies when changes to the terms or conditions of a share-based payment award must be accounted for as modifications. The guidance requires modification accounting if the value, vesting conditions or classification of the award changes. The ASU is required to be adopted in 2018 and applied prospectively. We do not expect such adoption to have a material effect on our Consolidated Financial Statements.

The FASB issued an ASU which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both lessees and lessors. We are currently conducting our initial analysis of the impact of the guidance on our Consolidated Financial Statements and have an active project team working on the evaluation and implementation of the guidance. We currently believe that the adoption of the ASU will not significantly change the accounting for operating leases on our Consolidated Balance Sheets where we are the lessor, and that such leases will be accounted for in a similar method to existing standards with the underlying leased asset being reported and recognized as a real estate asset. In addition, the guidance requires lessors to capitalize and amortize only incremental direct leasing costs. As a result, we expect that upon the adoption of the ASU, we will no longer be able to capitalize and amortize certain leasing related costs and instead will expense these costs as incurred. We are in the process of evaluating the impact to our results of operations of expensing such costs. The ASU is required to be adopted in 2019 using a modified retrospective approach. Our initial analysis of our leases also indicates that upon adoption of the ASU, certain lease revenue streams that are currently accounted for using the lease accounting standard will be accounted for as non-lease components using the five-step revenue recognition model discussed above. We continue to evaluate other impacts of adoption of this ASU.

The FASB issued an ASU that eliminates the requirement to separately measure and report hedge ineffectiveness and generally requires the entire change in the fair value of a hedging instrument to be presented in the same income statement line as the hedged item when the hedged item affects earnings. The ASU is required to be adopted in 2019 using a modified retrospective approach. We do not expect such adoption to have a material effect on our Consolidated Financial Statements.

1.    Description of Business and Significant Accounting Policies – Continued

The FASB issued an ASU that requires, among other things, the use of a new current expected credit loss ("CECL") model in determining our allowances for doubtful accounts with respect to accounts receivable, accrued straight-line rents receivable and mortgages and notes receivable. The CECL model requires that we estimate our lifetime expected credit loss with respect to these receivables and record allowances that, when deducted from the balance of the receivables, represent the net amounts expected to be collected. We will also be required to disclose information about how we developed the allowances, including changes in the factors (e.g., portfolio mix, credit trends, unemployment, gross domestic product, etc.) that influenced our estimate of expected credit losses and the reasons for those changes. We will apply the ASU’s provisions as a cumulative-effect adjustment to retained earnings upon adoption in 2020. We are in the process of evaluating this ASU.
v3.8.0.1
Intangible Assets and Below Market Lease Liabilities (Tables)
9 Months Ended
Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Total Intangible Assets and Below Market Lease Liabilities [Table Text Block]
The following table sets forth total intangible assets and acquisition-related below market lease liabilities, net of accumulated amortization:
 
 
September 30,
2017
 
December 31,
2016
Assets:
 
 
 
Deferred leasing costs (including lease incentives and above market lease and in-place lease acquisition-related intangible assets)
$
348,628

 
$
353,581

Less accumulated amortization
(145,814
)
 
(140,081
)
 
$
202,814

 
$
213,500

Liabilities (in accounts payable, accrued expenses and other liabilities):
 
 
 
Acquisition-related below market lease liabilities
$
60,304

 
$
61,221

Less accumulated amortization
(26,905
)
 
(23,074
)
 
$
33,399

 
$
38,147

Amortization of Intangible Assets and Below Market Lease Liabilities [Table Text Block]
The following table sets forth amortization of intangible assets and below market lease liabilities:
 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2017
 
2016
 
2017
 
2016
Amortization of deferred leasing costs and acquisition-related intangible assets (in depreciation and amortization)
$
10,130

 
$
10,111

 
$
30,882

 
$
33,177

Amortization of lease incentives (in rental and other revenues)
$
444

 
$
273

 
$
1,284

 
$
1,374

Amortization of acquisition-related intangible assets (in rental and other revenues)
$
671

 
$
901

 
$
2,382

 
$
2,904

Amortization of acquisition-related intangible assets (in rental property and other expenses)
$
140

 
$
140

 
$
416

 
$
417

Amortization of acquisition-related below market lease liabilities (in rental and other revenues)
$
(1,576
)
 
$
(1,734
)
 
$
(4,748
)
 
$
(6,294
)
Scheduled Future Amortization of Intangible Assets and Below Market Lease Liabilities [Table Text Block]
The following table sets forth scheduled future amortization of intangible assets and below market lease liabilities:
 
 
 
Amortization of Deferred Leasing Costs and Acquisition-Related Intangible Assets (in Depreciation and Amortization)
 
Amortization of Lease Incentives (in Rental and Other Revenues)
 
Amortization of Acquisition-Related Intangible Assets (in Rental and Other Revenues)
 
Amortization of Acquisition-Related Intangible Assets (in Rental Property and Other Expenses)
 
Amortization of Acquisition-Related Below Market Lease Liabilities (in Rental and Other Revenues)
October 1 through December 31, 2017
 
$
10,019

 
$
427

 
$
469

 
$
134

 
$
(1,497
)
2018
 
35,970

 
1,599

 
1,680

 
553

 
(5,962
)
2019
 
30,311

 
1,377

 
1,286

 
553

 
(5,492
)
2020
 
25,589

 
1,101

 
967

 
525

 
(5,180
)
2021
 
21,254

 
886

 
647

 

 
(4,409
)
Thereafter
 
61,333

 
4,249

 
1,885

 

 
(10,859
)
 
 
$
184,476

 
$
9,639

 
$
6,934

 
$
1,765

 
$
(33,399
)
Weighted average remaining amortization periods as of September 30, 2017 (in years)
 
7.6

 
9.5

 
6.5

 
3.2

 
6.8

v3.8.0.1
Mortgages and Notes Payable (Tables)
9 Months Ended
Sep. 30, 2017
Debt Disclosure [Abstract]  
Schedule of Consolidated Mortgages and Notes Payable [Table Text Block]
The following table sets forth our mortgages and notes payable:
 
 
September 30,
2017
 
December 31,
2016
Secured indebtedness
$
99,421

 
$
128,204

Unsecured indebtedness
1,875,239

 
1,826,145

Less-unamortized debt issuance costs
(8,262
)
 
(6,302
)
Total mortgages and notes payable, net
$
1,966,398

 
$
1,948,047

v3.8.0.1
Derivative Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments, Fair Value [Table Text Block]
The following table sets forth the gross fair value of our derivatives:
 
 
September 30,
2017
 
December 31,
2016
Derivatives:
 
 
 
Derivatives designated as cash flow hedges in prepaid expenses and other assets:
 
 
 
Interest rate swaps
$
306

 
$
7,619

Derivatives designated as cash flow hedges in accounts payable, accrued expenses and other liabilities:
 
 
 
Interest rate swaps
$
1,059

 
$
1,870

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]
The following table sets forth the effect of our cash flow hedges on accumulated other comprehensive income/(loss) and interest expense:
 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2017
 
2016
 
2017
 
2016
Derivatives Designated as Cash Flow Hedges:
 
 
 
 
 
 
 
Amount of unrealized gains/(losses) recognized in accumulated other comprehensive income/(loss) on derivatives (effective portion):
 
 
 
 
 
 
 
Interest rate swaps
$
(347
)
 
$
1,610

 
$
(31
)
 
$
(7,785
)
Amount of net losses reclassified out of accumulated other comprehensive income/(loss) into contractual interest expense (effective portion):
 
 
 
 
 
 
 
Interest rate swaps
$
211

 
$
758

 
$
992

 
$
2,336

v3.8.0.1
Noncontrolling Interests (Tables) - Highwoods Properties, Inc. [Member]
9 Months Ended
Sep. 30, 2017
Noncontrolling Interest [Line Items]  
Noncontrolling Interests in the Operating Partnership [Table Text Block]
The following table sets forth the Company's noncontrolling interests in the Operating Partnership:
 
 
Nine Months Ended
September 30,
 
2017
 
2016
Beginning noncontrolling interests in the Operating Partnership
$
144,802

 
$
126,429

Adjustment of noncontrolling interests in the Operating Partnership to fair value
3,297

 
13,390

Conversions of Common Units to Common Stock
(408
)
 
(3,006
)
Net income attributable to noncontrolling interests in the Operating Partnership
3,502

 
14,876

Distributions to noncontrolling interests in the Operating Partnership
(3,742
)
 
(3,684
)
Total noncontrolling interests in the Operating Partnership
$
147,451

 
$
148,005


Net Income Available for Common Stockholders and Transfers From Noncontrolling Interests in the Operating Partnership [Table Text Block]
The following table sets forth net income available for common stockholders and transfers from the Company's noncontrolling interests in the Operating Partnership:
 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2017
 
2016
 
2017
 
2016
Net income available for common stockholders
$
57,040

 
$
31,971

 
$
126,303

 
$
496,409

Increase in additional paid in capital from conversions of Common Units
to Common Stock
103

 
1,448

 
408

 
3,006

Change from net income available for common stockholders and transfers from noncontrolling interests
$
57,143

 
$
33,419

 
$
126,711

 
$
499,415

v3.8.0.1
Disclosure About Fair Value of Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2017
Fair Value Disclosures [Abstract]  
Fair Value Measurements of Assets, Liabilities and Noncontrolling Interests [Table Text Block]
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 1
 
Level 2
 
Level 3
 
 
Total
 
Quoted Prices
in Active
Markets for Identical Assets or Liabilities
 
Significant Observable Inputs
 
Significant Unobservable Inputs
Fair Value at September 30, 2017:
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
Mortgages and notes receivable, at fair value (1)
 
$
6,789

 
$

 
$
6,789

 
$

Interest rate swaps (in prepaid expenses and other assets)
 
306

 

 
306

 

Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets)
 
2,269

 
2,269

 

 

Impaired real estate assets
 
5,888

 

 

 
5,888

Total Assets
 
$
15,252

 
$
2,269

 
$
7,095

 
$
5,888

Noncontrolling Interests in the Operating Partnership
 
$
147,451

 
$
147,451

 
$

 
$

Liabilities:
 
 
 
 
 
 
 
 
Mortgages and notes payable, net, at fair value (1)
 
$
1,983,723

 
$

 
$
1,983,723

 
$

Interest rate swaps (in accounts payable, accrued expenses and other liabilities)
 
1,059

 

 
1,059

 

Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities)
 
2,269

 
2,269

 

 

Total Liabilities
 
$
1,987,051

 
$
2,269

 
$
1,984,782

 
$

Fair Value at December 31, 2016:
 
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
 
Mortgages and notes receivable, at fair value (1)
 
$
8,833

 
$

 
$
8,833

 
$

Interest rate swaps (in prepaid expenses and other assets)
 
7,619

 

 
7,619

 

Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets)
 
2,451

 
2,451

 

 

Total Assets
 
$
18,903

 
$
2,451

 
$
16,452

 
$

Noncontrolling Interests in the Operating Partnership
 
$
144,802

 
$
144,802

 
$

 
$

Liabilities:
 
 
 
 
 
 
 
 
Mortgages and notes payable, net, at fair value (1)
 
$
1,965,611

 
$

 
$
1,965,611

 
$

Interest rate swaps (in accounts payable, accrued expenses and other liabilities)
 
1,870

 

 
1,870

 

Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities)
 
2,451

 
2,451

 

 

Total Liabilities
 
$
1,969,932

 
$
2,451

 
$
1,967,481

 
$


__________
(1)    Amounts recorded at historical cost on our Consolidated Balance Sheets at September 30, 2017 and December 31, 2016.


v3.8.0.1
Accumulated Other Comprehensive Income (Loss) (Tables)
9 Months Ended
Sep. 30, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Components of Accumulated Other Comprehensive Income/(Loss) [Table Text Block]
The following table sets forth the components of accumulated other comprehensive income/(loss):
 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2017
 
2016
 
2017
 
2016
Cash flow hedges:
 
 
 
 
 
 
 
Beginning balance
$
6,046

 
$
(11,628
)
 
$
4,949

 
$
(3,811
)
Unrealized gains/(losses) on cash flow hedges
(347
)
 
1,610

 
(31
)
 
(7,785
)
Amortization of cash flow hedges (1)
211

 
758

 
992

 
2,336

Total accumulated other comprehensive income/(loss)
$
5,910


$
(9,260
)
 
$
5,910

 
$
(9,260
)
__________
(1)    Amounts reclassified out of accumulated other comprehensive income/(loss) into contractual interest expense.
v3.8.0.1
Discontinued Operations (Tables)
9 Months Ended
Sep. 30, 2017
Discontinued Operations and Disposal Groups [Abstract]  
Operations Classified as Discontinued Operations [Table Text Block]
The following tables set forth the results of operations for the three and nine months ended September 30, 2017 and 2016 and cash flows for the nine months ended September 30, 2017 and 2016 related to discontinued operations:
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2017
 
2016
 
2017
 
2016
Rental and other revenues
$

 
$

 
$

 
$
8,484

Operating expenses:
 
 
 
 
 
 
 
Rental property and other expenses

 

 

 
3,334

General and administrative

 

 

 
1,388

Total operating expenses

 

 

 
4,722

Interest expense

 

 

 
85

Other income

 

 

 
420

Income from discontinued operations

 

 

 
4,097

Net gains on disposition of discontinued operations

 

 

 
414,496

Total income from discontinued operations
$

 
$

 
$

 
$
418,593



 
Nine Months Ended
September 30,
 
2017
 
2016
Cash flows from operating activities
$

 
$
2,040

Cash flows from investing activities
$

 
$
417,097

v3.8.0.1
Earnings Per Share and Per Unit (Tables)
9 Months Ended
Sep. 30, 2017
Earnings Per Share and Per Unit Basic and Diluted [Line Items]  
Earnings Per Share [Table Text Block]
The following table sets forth the computation of basic and diluted earnings per share of the Company:

 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2017
 
2016
 
2017
 
2016
Earnings per Common Share - basic:
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
Income from continuing operations
$
59,549

 
$
33,840

 
$
132,588

 
$
95,510

Net (income) attributable to noncontrolling interests in the Operating Partnership from continuing operations
(1,571
)
 
(926
)
 
(3,502
)
 
(2,611
)
Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations
(315
)
 
(319
)
 
(914
)
 
(941
)
Dividends on Preferred Stock
(623
)
 
(624
)
 
(1,869
)
 
(1,877
)
Income from continuing operations available for common stockholders
57,040

 
31,971

 
126,303

 
90,081

Income from discontinued operations

 

 

 
418,593

Net (income) attributable to noncontrolling interests in the Operating Partnership from discontinued operations

 

 

 
(12,265
)
Income from discontinued operations available for common stockholders

 

 

 
406,328

Net income available for common stockholders
$
57,040

 
$
31,971

 
$
126,303

 
$
496,409

Denominator:
 
 
 
 
 
 
 
Denominator for basic earnings per Common Share – weighted average shares
103,237

 
98,973

 
102,489

 
97,669

Earnings per Common Share - basic:
 
 
 
 
 
 
 
Income from continuing operations available for common stockholders
$
0.55

 
$
0.32

 
$
1.23

 
$
0.92

Income from discontinued operations available for common stockholders

 

 

 
4.16

Net income available for common stockholders
$
0.55

 
$
0.32

 
$
1.23

 
$
5.08

Earnings per Common Share - diluted:
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
Income from continuing operations
$
59,549

 
$
33,840

 
$
132,588

 
$
95,510

Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations
(315
)
 
(319
)
 
(914
)
 
(941
)
Dividends on Preferred Stock
(623
)
 
(624
)
 
(1,869
)
 
(1,877
)
Income from continuing operations available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership
58,611

 
32,897

 
129,805

 
92,692

Income from discontinued operations available for common stockholders

 

 

 
418,593

Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership
$
58,611

 
$
32,897

 
$
129,805

 
$
511,285

Denominator:
 
 
 
 
 
 
 
Denominator for basic earnings per Common Share – weighted average shares
103,237

 
98,973

 
102,489

 
97,669

Add:
 
 
 
 
 
 
 
Stock options using the treasury method
76

 
108

 
79

 
94

Noncontrolling interests Common Units
2,832

 
2,858

 
2,834

 
2,882

Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions (1)
106,145

 
101,939

 
105,402

 
100,645

Earnings per Common Share - diluted:
 
 
 
 
 
 
 
Income from continuing operations available for common stockholders
$
0.55

 
$
0.32

 
$
1.23

 
$
0.92

Income from discontinued operations available for common stockholders

 

 

 
4.16

Net income available for common stockholders
$
0.55

 
$
0.32

 
$
1.23

 
$
5.08

__________
(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 [Table Text Block]
The following table sets forth the computation of basic and diluted earnings per unit of the Operating Partnership:
 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2017
 
2016
 
2017
 
2016
Earnings per Common Unit - basic:
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
Income from continuing operations
$
59,549

 
$
33,840

 
$
132,588

 
$
95,510

Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations
(315
)
 
(319
)
 
(914
)
 
(941
)
Distributions on Preferred Units
(623
)
 
(624
)
 
(1,869
)
 
(1,877
)
Income from continuing operations available for common unitholders
58,611

 
32,897

 
129,805

 
92,692

Income from discontinued operations available for common unitholders

 

 

 
418,593

Net income available for common unitholders
$
58,611

 
$
32,897

 
$
129,805

 
$
511,285

Denominator:
 
 
 
 
 
 
 
Denominator for basic earnings per Common Unit – weighted average units
105,660

 
101,422

 
104,914

 
100,142

Earnings per Common Unit - basic:
 
 
 
 
 
 
 
Income from continuing operations available for common unitholders
$
0.55

 
$
0.32

 
$
1.24

 
$
0.93

Income from discontinued operations available for common unitholders

 

 

 
4.18

Net income available for common unitholders
$
0.55

 
$
0.32

 
$
1.24

 
$
5.11

Earnings per Common Unit - diluted:
 
 
 
 
 
 
 
Numerator:
 
 
 
 
 
 
 
Income from continuing operations
$
59,549

 
$
33,840

 
$
132,588

 
$
95,510

Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations
(315
)
 
(319
)
 
(914
)
 
(941
)
Distributions on Preferred Units
(623
)
 
(624
)
 
(1,869
)
 
(1,877
)
Income from continuing operations available for common unitholders
58,611

 
32,897

 
129,805

 
92,692

Income from discontinued operations available for common unitholders

 

 

 
418,593

Net income available for common unitholders
$
58,611

 
$
32,897

 
$
129,805

 
$
511,285

Denominator:
 
 
 
 
 
 
 
Denominator for basic earnings per Common Unit – weighted average units
105,660

 
101,422

 
104,914

 
100,142

Add:
 
 
 
 
 
 
 
Stock options using the treasury method
76

 
108

 
79

 
94

Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions (1)
105,736

 
101,530

 
104,993

 
100,236

Earnings per Common Unit - diluted:
 
 
 
 
 
 
 
Income from continuing operations available for common unitholders
$
0.55

 
$
0.32

 
$
1.24

 
$
0.92

Income from discontinued operations available for common unitholders

 

 

 
4.18

Net income available for common unitholders
$
0.55

 
$
0.32

 
$
1.24

 
$
5.10

__________
(1)
Includes all unvested restricted stock where distributions on such restricted stock are non-forfeitable.
v3.8.0.1
Segment Information (Tables)
9 Months Ended
Sep. 30, 2017
Segment Reporting [Abstract]  
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]
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
September 30,
 
Nine Months Ended
September 30,
 
2017
 
2016
 
2017
 
2016
Rental and Other Revenues:
 
 
 
 
 
 
 
Office:
 
 
 
 
 
 
 
Atlanta
$
36,471

 
$
33,340

 
$
106,027

 
$
101,188

Greensboro
5,370

 
5,167

 
15,956

 
15,351

Memphis
11,459

 
12,330

 
35,077

 
36,275

Nashville
28,945

 
23,979

 
81,471

 
71,760

Orlando
13,309

 
11,678

 
38,183

 
34,360

Pittsburgh
14,719

 
14,386

 
44,420

 
43,721

Raleigh
30,524

 
27,767

 
90,167

 
84,013

Richmond
11,152

 
11,414

 
33,200

 
33,420

Tampa
25,072

 
22,836

 
72,578

 
67,088

Total Office Segment
177,021

 
162,897

 
517,079

 
487,176

Other
3,164

 
3,372

 
9,797

 
10,812

Total Rental and Other Revenues
$
180,185

 
$
166,269

 
$
526,876

 
$
497,988

Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]

 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2017
 
2016
 
2017
 
2016
Net Operating Income:
 
 
 
 
 
 
 
Office:
 
 
 
 
 
 
 
Atlanta
$
23,600

 
$
20,718

 
$
68,150

 
$
63,681

Greensboro
3,367

 
3,187

 
10,116

 
9,544

Memphis
6,930

 
7,753

 
21,474

 
22,566

Nashville
21,000

 
17,042

 
59,250

 
51,470

Orlando
7,999

 
6,633

 
23,007

 
19,638

Pittsburgh
8,822

 
8,482

 
26,396

 
25,193

Raleigh
21,960

 
19,525

 
65,345

 
59,935

Richmond
6,987

 
7,602

 
22,453

 
22,718

Tampa
15,972

 
14,349

 
46,297

 
42,037

Total Office Segment
116,637

 
105,291

 
342,488

 
316,782

Other
2,314

 
2,358

 
6,904

 
7,491

Total Net Operating Income
118,951

 
107,649

 
349,392

 
324,273

Reconciliation to income from continuing operations before disposition of investment properties and activity in unconsolidated affiliates:
 
 
 
 
 
 
 
Depreciation and amortization
(56,973
)
 
(52,923
)
 
(168,934
)
 
(161,734
)
Impairments of real estate assets
(1,445
)
 

 
(1,445
)
 

General and administrative expenses
(9,247
)
 
(9,863
)
 
(29,787
)
 
(29,327
)
Interest expense
(17,191
)
 
(18,566
)
 
(51,208
)
 
(58,756
)
Other income
558

 
833

 
2,632

 
1,884

Income from continuing operations before disposition of investment properties and activity in unconsolidated affiliates
$
34,653

 
$
27,130

 
$
100,650

 
$
76,340

v3.8.0.1
Description of Business and Significant Accounting Policies (Details)
$ / shares in Units, $ in Thousands, ft² in Millions
3 Months Ended 9 Months Ended
Mar. 31, 2017
USD ($)
Sep. 30, 2017
USD ($)
a
ft²
$ / shares
shares
Sep. 30, 2016
USD ($)
Description of Business and Significant Accounting Policies [Line Items]      
Rentable square feet of commercial real estate properties (in sq feet) | ft²   30.9  
Rentable square feet of commercial real estate properties under development (in sq feet) | ft²   0.6  
Undeveloped land suitable for development (in acres) | a   400  
Net proceeds of Common Stock sold during the period | $   $ 70,307 $ 187,214
Highwoods Properties, Inc. [Member]      
Description of Business and Significant Accounting Policies [Line Items]      
Common Units of partnership owned by the Company (in shares)   102,800,000  
Percentage of ownership of Common Units (in hundredths)   97.30%  
Common Units redeemed for a like number of common shares of stock (in shares)   8,000  
Highwoods Properties, Inc. [Member] | ATM Equity Offering [Member]      
Description of Business and Significant Accounting Policies [Line Items]      
Net proceeds of Common Stock sold during the period | $   $ 68,300  
Number of Common Stock sold during the period (in shares)   1,363,919  
Average price of Common Stock sold during the period (in dollars per share) | $ / shares   $ 50.85  
Highwoods Properties, Inc. [Member] | ATM Equity Offering [Member] | Maximum [Member]      
Description of Business and Significant Accounting Policies [Line Items]      
Net proceeds of Common Stock sold during the period | $ $ 300,000    
Highwoods Realty Limited Partnership [Member]      
Description of Business and Significant Accounting Policies [Line Items]      
Common Units of partnership not owned by the Company (in shares)   2,800,000  
v3.8.0.1
Real Estate Assets (Details)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
USD ($)
property
Mar. 31, 2017
USD ($)
Sep. 30, 2016
USD ($)
Sep. 30, 2017
USD ($)
property
Sep. 30, 2016
USD ($)
Dispositions [Abstract]          
Gains on disposition of property $ 19,849   $ 3,902 $ 25,181 $ 14,160
Impairments [Abstract]          
Impairments of real estate assets $ 1,445   $ 0 $ 1,445 $ 0
2017 Dispositions [Member]          
Dispositions [Abstract]          
Number of buildings sold | property 12     12  
Purchase price of real estate $ 78,000 $ 13,000      
Disposition closing credits excluded 2,500 1,200      
Gains on disposition of property 19,800 $ 5,300      
2017 Impairments [Member]          
Impairments [Abstract]          
Impairments of real estate assets $ 1,400        
v3.8.0.1
Mortgages and Notes Receivable (Details) - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
Mortgages and notes receivable [Abstract]    
Mortgages and notes receivable, net $ 6,789 $ 8,833
v3.8.0.1
Intangible Assets and Below Market Lease Liabilities (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Dec. 31, 2016
Assets:          
Deferred leasing costs (including lease incentives and above market lease and in-place lease acquisition-related intangible assets) $ 348,628   $ 348,628   $ 353,581
Deferred leasing costs, accumulated amortization (145,814)   (145,814)   (140,081)
Deferred leasing costs, net/Total scheduled future amortization of intangible assets 202,814   202,814   213,500
Liabilities (in accounts payable, accrued expenses and other liabilities):          
Acquisition-related below market lease liabilities, gross 60,304   60,304   61,221
Acquisition-related below market lease liabilities, accumulated amortization (26,905)   (26,905)   (23,074)
Acquisition-related below market lease liabilities, net 33,399   33,399   $ 38,147
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 184,476   184,476    
Amortization of intangible assets and below market lease liabilities [Abstract]          
Amortization of intangible assets 10,130 $ 10,111 30,882 $ 33,177  
Lease Incentives (in Rental and Other Revenues) [Member]          
Assets:          
Deferred leasing costs, net/Total scheduled future amortization of intangible assets 9,639   9,639    
Amortization of intangible assets and below market lease liabilities [Abstract]          
Amortization of intangible assets 444 273 1,284 1,374  
Acquisition-Related Intangible Assets (in Rental and Other Revenues) [Member]          
Assets:          
Deferred leasing costs, net/Total scheduled future amortization of intangible assets 6,934   6,934    
Amortization of intangible assets and below market lease liabilities [Abstract]          
Amortization of intangible assets 671 901 2,382 2,904  
Acquisition-Related Intangible Assets (in Rental Property and Other Expenses) [Member]          
Assets:          
Deferred leasing costs, net/Total scheduled future amortization of intangible assets 1,765   1,765    
Amortization of intangible assets and below market lease liabilities [Abstract]          
Amortization of intangible assets 140 140 416 417  
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 33,399   33,399    
Amortization of intangible assets and below market lease liabilities [Abstract]          
Amortization of acquisition-related below market lease liabilities $ (1,576) $ (1,734) $ (4,748) $ (6,294)  
v3.8.0.1
Intangible Assets and Below Market Lease Liabilities - Scheduled Future Amortization (Details) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Dec. 31, 2016
Scheduled future amortization of intangible assets [Abstract]    
Deferred leasing costs, net/Total scheduled future amortization of intangible assets $ 202,814 $ 213,500
Scheduled future amortization of below market lease liabilities [Abstract]    
Total scheduled future amortization of acquisition-related below market lease liabilities (33,399) $ (38,147)
Deferred Leasing Costs and Acquisition-Related Intangible Assets (in Depreciation and Amortization) [Member]    
Scheduled future amortization of intangible assets [Abstract]    
October 1 through December 31, 2017 10,019  
2018 35,970  
2019 30,311  
2020 25,589  
2021 21,254  
Thereafter 61,333  
Deferred leasing costs, net/Total scheduled future amortization of intangible assets $ 184,476  
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 7 months 12 days  
Lease Incentives (in Rental and Other Revenues) [Member]    
Scheduled future amortization of intangible assets [Abstract]    
October 1 through December 31, 2017 $ 427  
2018 1,599  
2019 1,377  
2020 1,101  
2021 886  
Thereafter 4,249  
Deferred leasing costs, net/Total scheduled future amortization of intangible assets $ 9,639  
Weighted average remaining amortization periods for intangible assets and below market lease liabilities [Abstract]    
Finite-lived intangible assets, average useful life (in years) 9 years 6 months  
Acquisition-Related Intangible Assets (in Rental and Other Revenues) [Member]    
Scheduled future amortization of intangible assets [Abstract]    
October 1 through December 31, 2017 $ 469  
2018 1,680  
2019 1,286  
2020 967  
2021 647  
Thereafter 1,885  
Deferred leasing costs, net/Total scheduled future amortization of intangible assets $ 6,934  
Weighted average remaining amortization periods for intangible assets and below market lease liabilities [Abstract]    
Finite-lived intangible assets, average useful life (in years) 6 years 6 months  
Acquisition-Related Intangible Assets (in Rental Property and Other Expenses) [Member]    
Scheduled future amortization of intangible assets [Abstract]    
October 1 through December 31, 2017 $ 134  
2018 553  
2019 553  
2020 525  
2021 0  
Thereafter 0  
Deferred leasing costs, net/Total scheduled future amortization of intangible assets $ 1,765  
Weighted average remaining amortization periods for intangible assets and below market lease liabilities [Abstract]    
Finite-lived intangible assets, average useful life (in years) 3 years 2 months 15 days  
Acquisition-Related Below Market Lease Liabilities (in Rental and Other Revenues) [Member]    
Scheduled future amortization of below market lease liabilities [Abstract]    
October 1 through December 31, 2017 $ (1,497)  
2018 (5,962)  
2019 (5,492)  
2020 (5,180)  
2021 (4,409)  
Thereafter (10,859)  
Total scheduled future amortization of acquisition-related below market lease liabilities $ (33,399)  
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) 6 years 9 months 20 days  
v3.8.0.1
Mortgages and Notes Payable (Details) - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Dec. 31, 2015
Dec. 31, 2016
Debt Instrument [Line Items]                
Mortgages and notes payable $ 1,966,398,000       $ 1,966,398,000     $ 1,948,047,000
Unamortized debt issuance costs (8,262,000)       (8,262,000)     (6,302,000)
Gains on debt extinguishment $ 0     $ 0 826,000 $ 0    
Maximum liquidity requirements (in years) 1 year              
Revolving Credit Facility [Member]                
Debt Instrument [Line Items]                
Maximum borrowing capacity on revolving credit facility $ 475,000,000       475,000,000      
Maturity date on revolving credit facility Jan. 01, 2018              
Annual facility fee (in hundredths) 0.20%              
Amount outstanding on revolving credit facility $ 72,000,000       72,000,000      
Outstanding letters of credit on revolving credit facility 600,000       600,000      
Unused borrowing capacity on revolving credit facility $ 402,400,000       402,400,000      
5.10%(4.22% effective rate) Mortgage Loan due 2017 [Member]                
Debt Instrument [Line Items]                
Early repayment of debt   $ 108,200,000            
Effective interest rate (in hundredths)   4.22%            
Scheduled maturity date   Nov. 01, 2017            
Gains on debt extinguishment   $ 400,000            
6.11% (5.36% effective rate) Mortgage Loan due 2017 (Note A) [Member]                
Debt Instrument [Line Items]                
Early repayment of debt   18,000,000.0            
Effective interest rate (in hundredths)             5.36%  
Scheduled maturity date             Jul. 06, 2017  
Percentage of partner's interest in asset acquired (in hundredths)             77.20%  
Principal debt amount             $ 18,000,000  
6.11% (8.60% effective rate) Mortgage Loan due 2017 (Note B) [Member]                
Debt Instrument [Line Items]                
Early repayment of debt   500,000            
Effective interest rate (in hundredths)             8.60%  
Scheduled maturity date             Jul. 06, 2017  
Gains on debt extinguishment   $ 400,000            
Principal debt amount             $ 10,200,000  
Percentage of excess funds after waterfall payments (in hundredths)             50.00%  
Stated return on funds deposited in escrow (in hundredths)             10.00%  
Projected waterfall payment             $ 1,000,000  
4.0% Mortgage Loan due May 2029 [Member]                
Debt Instrument [Line Items]                
Effective interest rate (in hundredths)   4.00%            
Scheduled maturity date   May 01, 2029            
Principal debt amount   $ 100,000,000            
Debt issuance costs incurred   800,000            
3.875% (4.038% effective rate) Notes due 2027 [Member]                
Debt Instrument [Line Items]                
Effective interest rate (in hundredths)     4.038%          
Scheduled maturity date     Mar. 01, 2027          
Debt issuance costs incurred     $ 2,500,000          
Original issue discount     4,000,000          
5.85% (5.88% effective rate) Notes due 2017 [Member]                
Debt Instrument [Line Items]                
Principal debt amount     $ 379,700,000          
Interest rate (in hundredths)     5.85%          
Variable Rate Term Loan due 2022 [Member]                
Debt Instrument [Line Items]                
Principal debt amount     $ 150,000,000          
Variable Rate Term Loan (amended) due 2022 [Member]                
Debt Instrument [Line Items]                
Scheduled maturity date     Jan. 01, 2022          
Principal debt amount     $ 200,000,000          
Debt issuance costs incurred     $ 300,000          
7.50% Notes due 2018 [Member]                
Debt Instrument [Line Items]                
Scheduled maturity date Apr. 15, 2018              
Principal debt amount $ 200,000,000       200,000,000      
Secured indebtedness [Member]                
Debt Instrument [Line Items]                
Mortgages and notes payable 99,421,000       99,421,000     128,204,000
Aggregate undepreciated book value of secured real estate assets 147,700,000       147,700,000      
Unsecured indebtedness [Member]                
Debt Instrument [Line Items]                
Mortgages and notes payable $ 1,875,239,000       $ 1,875,239,000     $ 1,826,145,000
London Interbank Offered Rate (LIBOR) [Member] | Revolving Credit Facility [Member]                
Debt Instrument [Line Items]                
Facility interest rate basis LIBOR plus 110 basis points              
Interest rate, basis spread (in hundredths) 1.10%              
London Interbank Offered Rate (LIBOR) [Member] | Variable Rate Term Loan (amended) due 2022 [Member]                
Debt Instrument [Line Items]                
Interest rate, basis spread (in hundredths)     1.10%          
Variable interest rate basis     LIBOR plus 110 basis points          
3.875% (4.038% effective rate) Notes due 2027 [Member]                
Debt Instrument [Line Items]                
Principal debt amount     $ 300,000,000          
Interest rate (in hundredths)     3.875%          
Floating to Fixed Interest Rate Swaps [Member]                
Debt Instrument [Line Items]                
Amount of borrowings, subject to swaps   $ 50,000,000            
v3.8.0.1
Derivative Financial Instruments (Details) - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Dec. 31, 2016
Derivative [Line Items]              
Expected increase to interest expense $ 100,000       $ 100,000    
Derivatives designated as cash flow hedges in prepaid expenses and other assets [Abstract]              
Interest rate swaps 306,000       306,000   $ 7,619,000
Derivatives designated as cash flow hedges in accounts payable, accrued expenses and other liabilities [Abstract]              
Interest rate swaps 1,059,000       1,059,000   1,870,000
Amount of unrealized gains/(losses) recognized in accumulated other comprehensive income/(loss) on derivatives (effective portion) [Abstract]              
Interest rate swaps (347,000)     $ 1,610,000 (31,000) $ (7,785,000)  
Amount of losses reclassified out of accumulated other comprehensive income/(loss) into contractual interest expense (effective portion) [Abstract]              
Interest rate swaps $ 211,000     $ 758,000 $ 992,000 $ 2,336,000  
Forward Starting Swaps [Member]              
Derivative [Line Items]              
Amount of borrowings, subject to swaps   $ 150,000,000         $ 150,000,000
Underlying treasury rate term (in periods)   10 years         10 years
Underlying treasury rate locked by forward-starting swaps (in hundredths)   2.44%         1.90%
Gain on forward-starting interest rate swaps     $ 7,300,000        
Floating to Fixed Interest Rate Swaps [Member]              
Derivative [Line Items]              
Amount of borrowings, subject to swaps   $ 50,000,000          
Underlying treasury rate term (in periods)   1 month          
3.875% (4.038% effective rate) Notes due 2027 [Member]              
Derivative [Line Items]              
Principal debt amount     $ 300,000,000        
Interest rate (in hundredths)     3.875%        
London Interbank Offered Rate (LIBOR) [Member] | Floating to Fixed Interest Rate Swaps [Member]              
Derivative [Line Items]              
Underlying treasury rate locked by forward-starting swaps (in hundredths)   1.693%          
v3.8.0.1
Noncontrolling Interests (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Noncontrolling Interests in Consolidated Affiliates [Abstract]        
Consolidated joint venture, partner's interest (in hundredths) 50.00%   50.00%  
Noncontrolling Interests in the Operating Partnership [Roll Forward]        
Beginning noncontrolling interests in the Operating Partnership     $ 144,802  
Adjustment of noncontrolling interests in the Operating Partnership to fair value     3,297 $ 13,390
Conversions of Common Units to Common Stock     (408) (3,006)
Net income attributable to noncontrolling interests in the Operating Partnership $ 1,571 $ 926 3,502 14,876
Distributions to noncontrolling interests in the Operating Partnership     (3,742) (3,684)
Total noncontrolling interests in the Operating Partnership 147,451   147,451  
Net Income Available for Common Stockholders and Transfers From Noncontrolling Interests in the Operating Partnership [Abstract]        
Net income available for common stockholders 57,040 31,971 126,303 496,409
Highwoods Properties, Inc. [Member]        
Noncontrolling Interests in the Operating Partnership [Roll Forward]        
Beginning noncontrolling interests in the Operating Partnership     144,802 126,429
Adjustment of noncontrolling interests in the Operating Partnership to fair value     3,297 13,390
Conversions of Common Units to Common Stock     (408) (3,006)
Net income attributable to noncontrolling interests in the Operating Partnership     3,502 14,876
Distributions to noncontrolling interests in the Operating Partnership     (3,742) (3,684)
Total noncontrolling interests in the Operating Partnership 147,451 148,005 147,451 148,005
Net Income Available for Common Stockholders and Transfers From Noncontrolling Interests in the Operating Partnership [Abstract]        
Net income available for common stockholders 57,040 31,971 126,303 496,409
Increase in additional paid in capital from conversions of Common Units to Common Stock 103 1,448 408 3,006
Change from net income available for common stockholders and transfers from noncontrolling interests $ 57,143 $ 33,419 $ 126,711 $ 499,415
v3.8.0.1
Disclosure About Fair Value of Financial Instruments - Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation (Details)
$ in Millions
3 Months Ended
Mar. 31, 2016
USD ($)
Tax Increment Financing Bond [Member]  
Tax increment financing bond [Abstract]  
Estimated fair value of outstanding principal amount at the date of sale $ 11.2
v3.8.0.1
Disclosure About Fair Value of Financial Instruments - Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis (Details) - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
Assets:    
Mortgages and notes receivable, at fair value $ 6,789 $ 8,833
Interest rate swaps (in prepaid expenses and other assets) 306 7,619
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets) 2,269 2,451
Impaired real estate assets 5,888  
Total Assets 15,252 18,903
Liabilities:    
Mortgages and notes payable, net, at fair value 1,983,723 1,965,611
Interest rate swaps (in accounts payable, accrued expenses and other liabilities) 1,059 1,870
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities) 2,269 2,451
Total Liabilities 1,987,051 1,969,932
Level 1 [Member]    
Assets:    
Mortgages and notes receivable, at fair value 0 0
Interest rate swaps (in prepaid expenses and other assets) 0 0
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets) 2,269 2,451
Impaired real estate assets 0  
Total Assets 2,269 2,451
Liabilities:    
Mortgages and notes payable, net, at fair value 0 0
Interest rate swaps (in accounts payable, accrued expenses and other liabilities) 0 0
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities) 2,269 2,451
Total Liabilities 2,269 2,451
Level 2 [Member]    
Assets:    
Mortgages and notes receivable, at fair value 6,789 8,833
Interest rate swaps (in prepaid expenses and other assets) 306 7,619
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets) 0 0
Impaired real estate assets 0  
Total Assets 7,095 16,452
Liabilities:    
Mortgages and notes payable, net, at fair value 1,983,723 1,965,611
Interest rate swaps (in accounts payable, accrued expenses and other liabilities) 1,059 1,870
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities) 0 0
Total Liabilities 1,984,782 1,967,481
Level 3 [Member]    
Assets:    
Mortgages and notes receivable, at fair value 0 0
Interest rate swaps (in prepaid expenses and other assets) 0 0
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets) 0 0
Impaired real estate assets 5,888  
Total Assets 5,888 0
Liabilities:    
Mortgages and notes payable, net, at fair value 0 0
Interest rate swaps (in accounts payable, accrued expenses and other liabilities) 0 0
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities) 0 0
Total Liabilities 0 0
Highwoods Properties, Inc. [Member]    
Assets:    
Noncontrolling Interests in the Operating Partnership 147,451 144,802
Highwoods Properties, Inc. [Member] | Level 1 [Member]    
Assets:    
Noncontrolling Interests in the Operating Partnership 147,451 144,802
Highwoods Properties, Inc. [Member] | Level 2 [Member]    
Assets:    
Noncontrolling Interests in the Operating Partnership 0 0
Highwoods Properties, Inc. [Member] | Level 3 [Member]    
Assets:    
Noncontrolling Interests in the Operating Partnership $ 0 $ 0
v3.8.0.1
Share-Based Payments (Details) - USD ($)
$ / shares in Units, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Stock-based compensation expense $ 900 $ 900 $ 5,764 $ 5,412
Total unrecognized stock-based compensation costs $ 6,100   $ 6,100  
Weighted average remaining contractual term for recognition of unrecognized stock-based compensation costs (in years)     2 years 4 months  
Highwoods Properties, Inc. [Member] | Stock Options [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Stock options granted (in shares)     168,748  
Weighted average grant date fair value of each stock option granted (in dollars per option)     $ 6.72  
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)     61,404  
Weighted average grant date fair value of each restricted stock share granted (in dollars per share)     $ 52.49  
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)     49,344  
Weighted average grant date fair value of each restricted stock share granted (in dollars per share)     $ 49.59  
v3.8.0.1
Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Accumulated Other Comprehensive Income (Loss) Calculation [Roll Forward]        
Beginning balance $ 6,046 $ (11,628) $ 4,949 $ (3,811)
Unrealized gains/(losses) on cash flow hedges (347) 1,610 (31) (7,785)
Amortization of cash flow hedges 211 758 992 2,336
Total accumulated other comprehensive income/(loss) $ 5,910 $ (9,260) $ 5,910 $ (9,260)
v3.8.0.1
Discontinued Operations (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Operating expenses:        
Income from discontinued operations $ 0 $ 0 $ 0 $ 4,097
Net gains on disposition of discontinued operations 0 0 0 414,496
Total income from discontinued operations 0 0 0 418,593
Disposal Group, Discontinued Operations [Member]        
Discontinued Operations [Abstract]        
Rental and other revenues 0 0 0 8,484
Operating expenses:        
Rental property and other expenses 0 0 0 3,334
General and administrative 0 0 0 1,388
Total operating expenses 0 0 0 4,722
Interest expense 0 0 0 85
Other income 0 0 0 420
Income from discontinued operations 0 0 0 4,097
Net gains on disposition of discontinued operations 0 0 0 414,496
Total income from discontinued operations $ 0 $ 0 0 418,593
Net Cash Provided by/(Used in) Discontinued Operations [Abstract]        
Cash flows from operating activities     0 2,040
Cash flows from investing activities     $ 0 $ 417,097
v3.8.0.1
Earnings Per Share and Per Unit (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Earnings per Common Share and Per Unit - basic: [Abstract]        
Income from continuing operations $ 59,549 $ 33,840 $ 132,588 $ 95,510
Net (income) attributable to noncontrolling interests in the Operating Partnership from continuing operations (1,571) (926) (3,502) (2,611)
Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations (315) (319) (914) (941)
Dividends on Preferred Stock (623) (624) (1,869) (1,877)
Income from continuing operations available for common stockholders 57,040 31,971 126,303 90,081
Income from discontinued operations 0 0 0 418,593
Net (income) attributable to noncontrolling interests in the Operating Partnership from discontinued operations 0 0 0 (12,265)
Income from discontinued operations available for common stockholders 0 0 0 406,328
Net income available for common stockholders $ 57,040 $ 31,971 $ 126,303 $ 496,409
Denominator:        
Denominator for basic earnings per Common Share - weighted average shares (in shares) 103,237 98,973 102,489 97,669
Earnings per Common Share - basic:        
Income from continuing operations available for common stockholders (in dollars per share) $ 0.55 $ 0.32 $ 1.23 $ 0.92
Income from discontinued operations available for common stockholders (in dollars per share) 0.00 0.00 0.00 4.16
Net income available for common stockholders (in dollars per share) $ 0.55 $ 0.32 $ 1.23 $ 5.08
Earnings per Common Share and Per Unit - diluted: [Abstract]        
Income from continuing operations $ 59,549 $ 33,840 $ 132,588 $ 95,510
Net (income) attributable to noncontrolling interests in consolidated affiliates (315) (319) (914) (941)
Dividends on Preferred Stock (623) (624) (1,869) (1,877)
Income from continuing operations available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership 58,611 32,897 129,805 92,692
Income from discontinued operations available for common stockholders 0 0 0 418,593
Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership $ 58,611 $ 32,897 $ 129,805 $ 511,285
Denominator:        
Denominator for basic earnings per Common Share - weighted average shares (in shares) 103,237 98,973 102,489 97,669
Stock options using the treasury method (in shares) 76 108 79 94
Noncontrolling interests Common Units (in shares) 2,832 2,858 2,834 2,882
Denominator for diluted earnings per Common Share - adjusted weighted average shares and assumed conversions (in shares) 106,145 101,939 105,402 100,645
Earnings per Common Share - diluted:        
Income from continuing operations available for common stockholders (in dollars per share) $ 0.55 $ 0.32 $ 1.23 $ 0.92
Income from discontinued operations available for common stockholders (in dollars per share) 0.00 0.00 0.00 4.16
Net income available for common stockholders (in dollars per share) $ 0.55 $ 0.32 $ 1.23 $ 5.08
Highwoods Realty Limited Partnership [Member]        
Earnings per Common Share and Per Unit - basic: [Abstract]        
Income from continuing operations $ 59,549 $ 33,840 $ 132,588 $ 95,510
Net (income) attributable to noncontrolling interests in consolidated affiliates from continuing operations (315) (319) (914) (941)
Distributions on Preferred Units (623) (624) (1,869) (1,877)
Income from continuing operations available for common unitholders 58,611 32,897 129,805 92,692
Income from discontinued operations available for common unitholders 0 0 0 418,593
Net income available for common unitholders $ 58,611 $ 32,897 $ 129,805 $ 511,285
Denominator:        
Denominator for basic earnings per Common Unit - weighted average units (in shares) 105,660 101,422 104,914 100,142
Earnings per Common Unit - basic:        
Income from continuing operations available for common unitholders (in dollars per share) $ 0.55 $ 0.32 $ 1.24 $ 0.93
Income from discontinued operations available for common unitholders (in dollars per share) 0.00 0.00 0.00 4.18
Net income available for common unitholders (in dollars per share) $ 0.55 $ 0.32 $ 1.24 $ 5.11
Earnings per Common Share and Per Unit - diluted: [Abstract]        
Income from continuing operations $ 59,549 $ 33,840 $ 132,588 $ 95,510
Net (income) attributable to noncontrolling interests in consolidated affiliates (315) (319) (914) (941)
Distributions on Preferred Units (623) (624) (1,869) (1,877)
Income from continuing operations available for common unitholders 58,611 32,897 129,805 92,692
Income from discontinued operations available for common unitholders 0 0 0 418,593
Net income available for common unitholders $ 58,611 $ 32,897 $ 129,805 $ 511,285
Denominator:        
Denominator for basic earnings per Common Unit - weighted average units (in shares) 105,660 101,422 104,914 100,142
Stock options using the treasury method (in shares) 76 108 79 94
Denominator for diluted earnings per Common Unit - adjusted weighted average units and assumed conversions (in shares) 105,736 101,530 104,993 100,236
Earnings per Common Unit - diluted:        
Income from continuing operations available for common unitholders (in dollars per share) $ 0.55 $ 0.32 $ 1.24 $ 0.92
Income from discontinued operations available for common unitholders (in dollars per share) 0.00 0.00 0.00 4.18
Net income available for common unitholders (in dollars per share) $ 0.55 $ 0.32 $ 1.24 $ 5.10
v3.8.0.1
Segment Information (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues $ 180,185 $ 166,269 $ 526,876 $ 497,988
Total Net Operating Income 118,951 107,649 349,392 324,273
Reconciliation to income from continuing operations before disposition of investment properties and activity in unconsolidated affiliates:        
Depreciation and amortization (56,973) (52,923) (168,934) (161,734)
Impairments of real estate assets (1,445) 0 (1,445) 0
General and administrative expenses (9,247) (9,863) (29,787) (29,327)
Interest expense (17,191) (18,566) (51,208) (58,756)
Other income 558 833 2,632 1,884
Income from continuing operations before disposition of investment properties and activity in unconsolidated affiliates 34,653 27,130 100,650 76,340
Total Office Segment [Member]        
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues 177,021 162,897 517,079 487,176
Total Net Operating Income 116,637 105,291 342,488 316,782
Office Atlanta, GA [Member]        
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues 36,471 33,340 106,027 101,188
Total Net Operating Income 23,600 20,718 68,150 63,681
Office Greensboro, NC [Member]        
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues 5,370 5,167 15,956 15,351
Total Net Operating Income 3,367 3,187 10,116 9,544
Office Memphis, TN [Member]        
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues 11,459 12,330 35,077 36,275
Total Net Operating Income 6,930 7,753 21,474 22,566
Office Nashville, TN [Member]        
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues 28,945 23,979 81,471 71,760
Total Net Operating Income 21,000 17,042 59,250 51,470
Office Orlando, FL [Member]        
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues 13,309 11,678 38,183 34,360
Total Net Operating Income 7,999 6,633 23,007 19,638
Office Pittsburgh, PA [Member]        
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues 14,719 14,386 44,420 43,721
Total Net Operating Income 8,822 8,482 26,396 25,193
Office Raleigh, NC [Member]        
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues 30,524 27,767 90,167 84,013
Total Net Operating Income 21,960 19,525 65,345 59,935
Office Richmond, VA [Member]        
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues 11,152 11,414 33,200 33,420
Total Net Operating Income 6,987 7,602 22,453 22,718
Office Tampa, FL [Member]        
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues 25,072 22,836 72,578 67,088
Total Net Operating Income 15,972 14,349 46,297 42,037
Other [Member]        
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues 3,164 3,372 9,797 10,812
Total Net Operating Income $ 2,314 $ 2,358 $ 6,904 $ 7,491
v3.8.0.1
Subsequent Events (Details)
1 Months Ended 3 Months Ended 9 Months Ended
Oct. 19, 2017
$ / shares
Oct. 18, 2017
USD ($)
extensions
Sep. 30, 2017
USD ($)
$ / shares
Mar. 31, 2017
USD ($)
Sep. 30, 2016
USD ($)
$ / shares
Sep. 30, 2017
USD ($)
$ / shares
Sep. 30, 2016
USD ($)
$ / shares
Subsequent Event [Line Items]              
Losses on debt extinguishment     $ 0   $ 0 $ 826,000 $ 0
Dividends declared per Common Share (in dollars per share) | $ / shares     $ 0.440   $ 0.425 $ 1.320 $ 1.275
Revolving Credit Facility [Member]              
Subsequent Event [Line Items]              
Maximum borrowing capacity on revolving credit facility     $ 475,000,000     $ 475,000,000  
Maturity date on revolving credit facility     Jan. 01, 2018        
Annual facility fee (in hundredths)     0.20%        
Amount outstanding on revolving credit facility     $ 72,000,000     72,000,000  
Outstanding letters of credit on revolving credit facility     600,000     600,000  
Unused borrowing capacity on revolving credit facility     $ 402,400,000     $ 402,400,000  
Revolving Credit Facility [Member] | Subsequent Event [Member]              
Subsequent Event [Line Items]              
Maximum borrowing capacity on revolving credit facility   $ 600,000,000          
Additional borrowing capacity on revolving credit facility   $ 400,000,000          
Maturity date on revolving credit facility   Jan. 31, 2022          
Number of addtional maturity extensions | extensions   2          
Term of optional extension   6 months          
Debt issuance costs incurred   $ 3,500,000          
Losses on debt extinguishment   (100,000)          
Amount outstanding on revolving credit facility   200,000,000          
Outstanding letters of credit on revolving credit facility   600,000          
Unused borrowing capacity on revolving credit facility   399,400,000          
Variable Rate Term Loan (amended) due 2022 [Member]              
Subsequent Event [Line Items]              
Debt issuance costs incurred       $ 300,000      
Principal debt amount       $ 200,000,000      
Scheduled maturity date       Jan. 01, 2022      
Variable Rate Term Loan (amended) due 2022 [Member] | Subsequent Event [Member]              
Subsequent Event [Line Items]              
Debt issuance costs incurred   1,100,000          
Losses on debt extinguishment   (400,000)          
Principal debt amount   $ 200,000,000          
Scheduled maturity date   Nov. 30, 2022          
Variable Rate Term Loan (1) due 2019 [Member] | Subsequent Event [Member]              
Subsequent Event [Line Items]              
Term of debt instrument   5 years          
Scheduled maturity date   Jan. 01, 2019          
Variable Rate Term Loan due 2020 [Member] | Subsequent Event [Member]              
Subsequent Event [Line Items]              
Losses on debt extinguishment   $ (400,000)          
Principal debt amount   $ 350,000,000          
Scheduled maturity date   Jun. 01, 2020          
Early repayment of debt   $ 125,000,000          
London Interbank Offered Rate (LIBOR) [Member] | Revolving Credit Facility [Member]              
Subsequent Event [Line Items]              
Facility interest rate basis     LIBOR plus 110 basis points        
Interest rate, basis spread (in hundredths)     1.10%        
London Interbank Offered Rate (LIBOR) [Member] | Revolving Credit Facility [Member] | Subsequent Event [Member]              
Subsequent Event [Line Items]              
Facility interest rate basis   LIBOR plus 100 basis points          
Interest rate, basis spread (in hundredths)   1.00%          
Annual facility fee (in hundredths)   0.20%          
London Interbank Offered Rate (LIBOR) [Member] | Variable Rate Term Loan (amended) due 2022 [Member]              
Subsequent Event [Line Items]              
Interest rate, basis spread (in hundredths)       1.10%      
Variable interest rate basis       LIBOR plus 110 basis points      
London Interbank Offered Rate (LIBOR) [Member] | Variable Rate Term Loan (amended) due 2022 [Member] | Subsequent Event [Member]              
Subsequent Event [Line Items]              
Interest rate, basis spread (in hundredths)   1.10%          
Variable interest rate basis   LIBOR plus 110 basis points          
London Interbank Offered Rate (LIBOR) [Member] | Variable Rate Term Loan (1) due 2019 [Member] | Subsequent Event [Member]              
Subsequent Event [Line Items]              
Interest rate, basis spread (in hundredths)   1.20%          
Variable interest rate basis   LIBOR plus 120 basis points          
Dividend Declared [Member] | Highwoods Properties, Inc. [Member] | Subsequent Event [Member]              
Subsequent Event [Line Items]              
Dividends declared per Common Share (in dollars per share) | $ / shares $ 0.44