EX-12.1 2 hiw03312016ex121.htm EXHIBIT 12.1
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, 2016
Earnings: |  |
Income from continuing operations before equity in earnings of unconsolidated affiliates |  | $ | 26,857 |
Fixed charges |  | 23,501 |
Capitalized interest |  | (1,933 | )
Distributions of earnings from unconsolidated affiliates |  | 717 |
Total earnings |  | $ | 49,142 |
Fixed charges and Preferred Stock dividends: |  |
Contractual interest expense |  | $ | 19,715 |
Amortization of debt issuance costs |  | 990 |
Capitalized interest |  | 1,933 |
Interest component of rental expense |  | 863 |
Total fixed charges |  | 23,501 |
Preferred Stock dividends |  | 626 |
Total fixed charges and Preferred Stock dividends |  | $ | 24,127 |
Ratio of earnings to fixed charges |  | 2.09 |
Ratio of earnings to combined fixed charges and Preferred Stock dividends |  | 2.04 |