EX-12.1 2 exh12_1.htm STATEMENT RE: COMPUTATION OF RATIOS OF THE COMPANY

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 September 30, 2010			Nine Months Ended September 30, 2010
Earnings:
Income from continuing operations before equity in earnings of unconsolidated affiliates		$	7,755		$	57,878
Fixed charges			24,143			71,661
Capitalized interest			(392	)		(1,115	)
Distributions of earnings from unconsolidated affiliates			1,216			2,933
Total earnings		$	32,722		$	131,357
Fixed charges and Preferred Stock dividends:
Contractual interest expense		$	22,020		$	65,527
Amortization of deferred financing costs			858			2,528
Interest expense on financing obligations			460			1,330
Capitalized interest			392			1,115
Interest component of rental expense			413			1,161
Total fixed charges			24,143			71,661
Dividends on Preferred Stock			1,677			5,031
Total fixed charges and Dividends on Preferred Stock		$	25,820		$	76,692
Ratio of earnings to fixed charges			1.36			1.83
Ratio of earnings to combined fixed charges and Dividends on Preferred Stock			1.27			1.71