EX-12.1 2 exh12_1.htm COMPUTATION RE: RATIO OF EARNINGS

exh12_1.htm

Exhibit 12.1

HIGHWOODS PROPERTIES, INC.

RATIO OF EARNINGS TO FIXED CHARGES AND

RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND

PREFERRED STOCK DIVIDENDS

		Three Months Ended June 30, 2010			Six Months Ended June 30, 2010
Earnings:
Income from continuing operations before equity in earnings of unconsolidated affiliates		$	39,224		$	50,123
Fixed charges			23,691			47,518
Capitalized interest			(370	)		(723	)
Distributions of earnings from unconsolidated affiliates			1,036			1,717
Total earnings		$	63,581		$	98,635
Fixed charges and Preferred Stock dividends:
Contractual interest expense		$	21,705		$	43,507
Amortization of deferred financing costs			835			1,670
Interest expense on financing obligations			394			870
Capitalized interest			370			723
Interest component of rental expense			387			748
Total fixed charges			23,691			47,518
Dividends on Preferred Stock			1,677			3,354
Total fixed charges and Dividends on Preferred Stock		$	25,368		$	50,872
Ratio of earnings to fixed charges			2.68			2.08
Ratio of earnings to combined fixed charges and Dividends on Preferred Stock			2.51			1.94