EX-12.1 2 hiw09302016ex121.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

|  | Nine Months Ended September 30, 2016
Earnings: |  |
Income from continuing operations before equity in earnings of unconsolidated affiliates |  | $ | 90,500 |
Fixed charges |  | 66,833 |
Capitalized interest |  | (5,731 | )
Distributions of earnings from unconsolidated affiliates |  | 3,936 |
Total earnings |  | $ | 155,538 |
Fixed charges and Preferred Stock dividends: |  |
Contractual interest expense |  | $ | 56,111 |
Amortization of debt issuance costs |  | 2,645 |
Capitalized interest |  | 5,731 |
Interest component of rental expense |  | 2,346 |
Total fixed charges |  | 66,833 |
Preferred Stock dividends |  | 1,877 |
Total fixed charges and Preferred Stock dividends |  | $ | 68,710 |
Ratio of earnings to fixed charges |  | 2.33 |
Ratio of earnings to combined fixed charges and Preferred Stock dividends |  | 2.26 |