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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities:    
Net income $ 56,855 $ 191,340
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 60,927 61,150
Amortization of lease incentives and acquisition-related intangible assets and liabilities (704) (649)
Share-based compensation expense 2,982 2,496
Credit losses on operating lease receivables 237 1,249
Accrued interest on mortgages and notes receivable (27) (31)
Amortization of debt issuance costs 792 767
Amortization of cash flow hedges 122 (72)
Amortization of mortgages and notes payable fair value adjustments 411 426
Losses on debt extinguishment 76 0
Net gains on disposition of property (18,937) (153,067)
Equity in earnings of unconsolidated affiliates (637) (963)
Distributions of earnings from unconsolidated affiliates 395 341
Changes in operating assets and liabilities:    
Accounts receivable 6,658 824
Prepaid expenses and other assets (5,544) (8,745)
Accrued straight-line rents receivable (4,245) (10,888)
Accounts payable, accrued expenses and other liabilities (16,381) (20,564)
Net cash provided by operating activities 82,980 63,614
Investing activities:    
Investments in acquired real estate and related intangible assets, net of cash acquired 0 (55)
Investments in development in-process (19,789) (36,122)
Investments in tenant improvements and deferred leasing costs (22,939) (49,825)
Investments in building improvements (14,422) (15,254)
Investment in acquired controlling interest in unconsolidated affiliate (127,339) 0
Net proceeds from disposition of real estate assets 30,242 331,761
Distributions of capital from unconsolidated affiliates 0 72
Investments in mortgages and notes receivable 0 (32)
Repayments of mortgages and notes receivable 76 75
Changes in other investing activities (746) 477
Net cash provided by/(used in) investing activities (154,917) 231,097
Financing activities:    
Dividends on Common Stock (49,847) (49,735)
Redemptions/repurchases of Preferred Stock 0 (3)
Dividends on Preferred Stock (622) (622)
Distributions to noncontrolling interests in the Operating Partnership (1,363) (1,364)
Distributions to noncontrolling interests in consolidated affiliates (782) (198)
Proceeds from the issuance of Common Stock 493 2,343
Costs paid for the issuance of Common Stock (10) (180)
Repurchase of shares related to tax withholdings (1,681) (1,124)
Borrowings on revolving credit facility 0 110,000
Repayments of revolving credit facility 0 (244,000)
Repayments of mortgages and notes payable (501) (481)
Changes in debt issuance costs and other financing activities (4,616) 0
Net cash used in financing activities (58,929) (185,364)
Net increase/(decrease) in cash and cash equivalents and restricted cash (130,866) 109,347
Cash and cash equivalents and restricted cash at beginning of the period 189,244 14,742
Cash and cash equivalents and restricted cash at end of the period 58,378 124,089
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents at end of the period 49,279 12,696
Restricted cash at end of the period 9,099 111,393
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 27,646 25,321
Supplemental disclosure of non-cash investing and financing activities:    
Unrealized losses on cash flow hedges 0 (1,133)
Changes in accrued capital expenditures (1) [1] (454) (4,789)
Write-off of fully depreciated real estate assets 15,468 12,033
Write-off of fully amortized leasing costs 12,848 5,842
Write-off of fully amortized debt issuance costs 2,983 0
Adjustment of noncontrolling interests in the Operating Partnership to fair value 9,266 (42,301)
Issuances of Common Units to acquire real estate assets 0 6,163
Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities 65,500 63,200
Highwoods Realty Limited Partnership [Member]    
Operating activities:    
Net income 56,855 191,340
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 60,927 61,150
Amortization of lease incentives and acquisition-related intangible assets and liabilities (704) (649)
Share-based compensation expense 2,982 2,496
Credit losses on operating lease receivables 237 1,249
Accrued interest on mortgages and notes receivable (27) (31)
Amortization of debt issuance costs 792 767
Amortization of cash flow hedges 122 (72)
Amortization of mortgages and notes payable fair value adjustments 411 426
Losses on debt extinguishment 76 0
Net gains on disposition of property (18,937) (153,067)
Equity in earnings of unconsolidated affiliates (637) (963)
Distributions of earnings from unconsolidated affiliates 395 341
Changes in operating assets and liabilities:    
Accounts receivable 6,658 824
Prepaid expenses and other assets (5,544) (8,745)
Accrued straight-line rents receivable (4,245) (10,888)
Accounts payable, accrued expenses and other liabilities (16,381) (20,564)
Net cash provided by operating activities 82,980 63,614
Investing activities:    
Investments in acquired real estate and related intangible assets, net of cash acquired 0 (55)
Investments in development in-process (19,789) (36,122)
Investments in tenant improvements and deferred leasing costs (22,939) (49,825)
Investments in building improvements (14,422) (15,254)
Investment in acquired controlling interest in unconsolidated affiliate (127,339) 0
Net proceeds from disposition of real estate assets 30,242 331,761
Distributions of capital from unconsolidated affiliates 0 72
Investments in mortgages and notes receivable 0 (32)
Repayments of mortgages and notes receivable 76 75
Changes in other investing activities (746) 477
Net cash provided by/(used in) investing activities (154,917) 231,097
Financing activities:    
Distributions on Common Units (51,014) (50,903)
Redemptions/repurchases of Preferred Units 0 (3)
Distributions on Preferred Units (622) (622)
Distributions to noncontrolling interests in consolidated affiliates (782) (198)
Proceeds from the issuance of Common Units 493 2,343
Costs paid for the issuance of Common Units (10) (180)
Repurchase of units related to tax withholdings (1,681) (1,124)
Borrowings on revolving credit facility 0 110,000
Repayments of revolving credit facility 0 (244,000)
Repayments of mortgages and notes payable (501) (481)
Changes in debt issuance costs and other financing activities (4,812) (196)
Net cash used in financing activities (58,929) (185,364)
Net increase/(decrease) in cash and cash equivalents and restricted cash (130,866) 109,347
Cash and cash equivalents and restricted cash at beginning of the period 189,244 14,742
Cash and cash equivalents and restricted cash at end of the period 58,378 124,089
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents at end of the period 49,279 12,696
Restricted cash at end of the period 9,099 111,393
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 27,646 25,321
Supplemental disclosure of non-cash investing and financing activities:    
Unrealized losses on cash flow hedges 0 (1,133)
Changes in accrued capital expenditures (1) [1] (454) (4,789)
Write-off of fully depreciated real estate assets 15,468 12,033
Write-off of fully amortized leasing costs 12,848 5,842
Write-off of fully amortized debt issuance costs 2,983 0
Adjustment of Redeemable Common Units to fair value 9,396 (38,705)
Issuances of Common Units to acquire real estate assets 0 6,163
Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities $ 65,500 $ 63,200
[1] Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities at March 31, 2021 and 2020 were $65.5 million and $63.2 million, respectively.