EX-12.1 2 ex12_1.htm COMPUTATION RE: RATIO OF EARNINGS FOR THE COMPANY
Exhibit 12.1
HIGHWOODS PROPERTIES, INC.
RATIO OF EARNINGS TO FIXED CHARGES AND
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND
PREFERRED STOCK DIVIDENDS

|  | Nine Months Ended September 30, 2011 |
Earnings: |  |  |  |
Income from continuing operations before equity in earnings of unconsolidated affiliates |  | $ | 27,718 |
Fixed charges |  |  | 73,416 |
Capitalized interest |  |  | (513 | )
Distributions of earnings from unconsolidated affiliates |  |  | 3,400 |
Total earnings |  | $ | 104,021 |
Fixed charges and Preferred Stock dividends: |  |  |  |
Contractual interest expense |  | $ | 68,727 |
Amortization of deferred financing costs |  |  | 2,448 |
Interest expense on financing obligations |  |  | 665 |
Capitalized interest |  |  | 513 |
Interest component of rental expense |  |  | 1,063 |
Total fixed charges |  |  | 73,416 |
Dividends on Preferred Stock |  |  | 3,926 |
Total fixed charges and Dividends on Preferred Stock |  | $ | 77,342 |
Ratio of earnings to fixed charges |  |  | 1.42 |
Ratio of earnings to combined fixed charges and Dividends on Preferred Stock |  |  | 1.34 |