XML 59 R45.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Stock and Other Incentive Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of unrecognized compensation cost, nonvested awards | The following table represents expected amortization of the Company's non-vested shares issued as of December 31, 2023:
Dollars in millions | FUTURE AMORTIZATION of non-vested shares
2024 | $ | 12.2 |
2025 | 9.7 |
2026 | 6.9 |
2027 | 2.1 |
2028 and thereafter | 0.5 |
Total | $ | 31.4 |
Schedule of other than stock options, valuation assumptions | a Monte Carlo simulation to calculate the weighted average grant date fair values of $24.23 for the absolute TSR component and $27.84 for the relative TSR component for the January 2023 grant using the following assumptions:
Volatility | 34.0 | %
Dividend Assumption | Accrued
Expected term in years | 3 years
Risk-free rate | 4.42 | %
Stock price (per share) | $20.21
The Company utilized a Monte Carlo simulation to calculate the weighted average grant date fair values of $12.24 for the absolute TSR component and $13.98 for the relative TSR component for the January 2023 grant using the following assumption:
Volatility |  |  | 34.0 | %
Dividend assumption |  |  | Accrued
Expected term |  |  | 3 years
Risk-free rate |  |  | 4.42 | %
Stock price (per share) |  |  | $20.21
Schedule of the activity under the incentive plans the previous directors' plan | The following table represents the summary of non-vested share-based awards (including restricted stock, RSUs, LTIP-C units and LTIP-D units) under the Incentive Plans and related information for the three years ended December 31, 2023:
| YEAR ENDED DECEMBER 31,
Dollars in thousands, except per share data | 2023 | 2022 | 2021
Share-based awards, beginning of year | 2,090,060 |  | 1,562,028 |  | 1,766,061 |
Granted 1 | 1,164,359 |  | 952,407 |  | 203,701 |
Vested | (403,266) |  | (418,949) |  | (404,777) |
Change in awards based on performance assessment 2 | (205,668) |  | — |  | — |
Forfeited | (29,923) |  | (5,426) |  | (2,957) |
Share-based awards, end of year | 2,615,562 |  | 2,090,060 |  | 1,562,028 |
Weighted-average grant date fair value of |  |  |
Share-based awards, beginning of year | $ | 30.35 |  | $ | 31.10 |  | $ | 30.51 |
Share-based awards granted during the year | $ | 18.70 |  | $ | 29.64 |  | $ | 30.86 |
Share-based awards vested during the year | $ | 28.38 |  | $ | 31.52 |  | $ | 28.38 |
Share-based awards change in performance assessment during the year | $ | 29.05 |  | $ | — |  | $ | — |
Stock-based awards forfeited during the year | $ | 31.16 |  | $ | 31.48 |  | $ | 33.04 |
Share-based awards, end of year | $ | 25.56 |  | $ | 30.35 |  | $ | 31.10 |
Grant date fair value of shares granted during the year | $ | 22,171 |  | $ | 28,225 |  | $ | 6,286 |
1 LTIP-C units are issued at the maximum possible value of the award and are reflected as such in this table until the performance period has been satisfied and the exact number of awards are determinable. 2 The Company's RSUs that are based on operating performance metrics are evaluated on the probability of those performance metrics being achieved. During 2023, the Company determined that the operating performance goals related to the RSUs issued in 2022 are not probable of being achieved and reversed all of the outstanding amortization expense for that grant. In addition, the Company lowered the probability of achieving the operating performance goals related to the RSUs issued in 2023.
Schedule of the employee stock purchase plan activity | A summary of the Legacy HR Employee Stock Purchase Plan activity and related information for the three years ended December 31, 2023 is as follows:
| YEAR ENDED DECEMBER 31,
Dollars in thousands, except per share data | 2023 | 2022 | 2021
Options outstanding, beginning of year | 340,976 |  | 348,514 |  | 341,647 |
Granted | — |  | 255,960 |  | 253,200 |
Exercised | (8,627) |  | (20,246) |  | (30,281) |
Forfeited | (43,737) |  | (102,619) |  | (71,630) |
Expired | (132,999) |  | (140,633) |  | (144,422) |
Options outstanding and exercisable, end of year | 155,613 |  | 340,976 |  | 348,514 |
Weighted-average exercise price of |  |  |
Options outstanding, beginning of year | $ | 16.38 |  | $ | 25.38 |  | $ | 24.70 |
Options granted during the year | $ | — |  | $ | 26.89 |  | $ | 25.16 |
Options exercised during the year | $ | 15.07 |  | $ | 20.97 |  | $ | 25.03 |
Options forfeited during the year | $ | 15.50 |  | $ | 21.88 |  | $ | 25.45 |
Options expired during the year | $ | 16.43 |  | $ | 23.36 |  | $ | 24.17 |
Options outstanding, end of year | $ | 12.98 |  | $ | 16.38 |  | $ | 25.38 |
Weighted-average fair value of options granted during the year (calculated as of the grant date) | $ | — |  | $ | 9.91 |  | $ | 9.05 |
Intrinsic value of options exercised during the year | $ | 23 |  | $ | 75 |  | $ | 165 |
Intrinsic value of options outstanding and exercisable (calculated as of December 31) | $ | 401 |  | $ | 985 |  | $ | 1,997 |
Exercise prices of options outstanding (calculated as of December 31) | $ | 14.65 |  | $ | 16.38 |  | $ | 25.91 |
Weighted-average contractual life of outstanding options (calculated as of December 31, in years) | 0.3 | 0.8 | 0.8
Schedule of stock options, valuation assumptions |
| 2023 | 2022 | 2021
Risk-free interest rates | — | % | 0.73 | % | 0.13 | %
Expected dividend yields | — | % | 3.97 | % | 4.11 | %
Expected life (in years) | 0 | 1.44 | 1.43
Expected volatility | — | % | 49.0 | % | 48.2 | %
Expected forfeiture rates | — | % | 85 | % | 85 | %

X
- Definition Schedule of Share-Based Payment Award, Other than Options, Valuation Assumptions + References No definition available. + Details
Name: | hr_ScheduleOfShareBasedPaymentAwardOtherThanOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | hr_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of employee stock purchase plan activity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationEmployeeStockPurchasePlanActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of cost not yet recognized and weighted-average period over which cost is expected to be recognized for nonvested award under share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (i) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfUnrecognizedCompensationCostNonvestedAwardsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration