EX-12.1 2 hiw06302017ex121.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

|  | Six Months Ended June 30, 2017
Earnings: |  |
Income from continuing operations before equity in earnings of unconsolidated affiliates |  | $ | 71,329 |
Fixed charges |  | 41,332 |
Capitalized interest |  | (6,043 | )
Distributions of earnings from unconsolidated affiliates |  | 2,907 |
Total earnings |  | $ | 109,525 |
Fixed charges and Preferred Stock dividends: |  |
Contractual interest expense |  | $ | 32,368 |
Amortization of debt issuance costs |  | 1,649 |
Capitalized interest |  | 6,043 |
Interest component of rental expense |  | 1,272 |
Total fixed charges |  | 41,332 |
Preferred Stock dividends |  | 1,246 |
Total fixed charges and Preferred Stock dividends |  | $ | 42,578 |
Ratio of earnings to fixed charges |  | 2.65 |
Ratio of earnings to combined fixed charges and Preferred Stock dividends |  | 2.57 |