EX-12.1 2 hiw03312014ex121.htm EXHIBIT
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 March 31, 2014
Earnings: |  |
Income from continuing operations before equity in earnings/(losses) of unconsolidated affiliates |  | $ | 13,221 |
Fixed charges |  | 22,795 |
Capitalized interest |  | (566 | )
Distributions of earnings from unconsolidated affiliates |  | 788 |
Total earnings |  | $ | 36,238 |
Fixed charges and Preferred Stock dividends: |  |
Contractual interest expense |  | $ | 20,750 |
Amortization of deferred financing costs |  | 652 |
Financing obligations interest income |  | (40 | )
Capitalized interest |  | 566 |
Interest component of rental expense |  | 867 |
Total fixed charges |  | 22,795 |
Preferred Stock dividends |  | 627 |
Total fixed charges and Preferred Stock dividends |  | $ | 23,422 |
Ratio of earnings to fixed charges |  | 1.59 |
Ratio of earnings to combined fixed charges and Preferred Stock dividends |  | 1.55 |