HIGHWOODS PROPERTIES, INC. Earnings Per Share Disclosure
| Year Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Earnings per Common Share - basic: | |||||||||||||||||
| Numerator: | |||||||||||||||||
| Net income | $ | 162,650 | $ | 104,254 | $ | 151,330 | |||||||||||
| Net (income) attributable to noncontrolling interests in the Operating Partnership | (3,112) | (2,040) | (3,164) | ||||||||||||||
| Net loss attributable to noncontrolling interests in consolidated affiliates | 74 | 34 | 549 | ||||||||||||||
| Dividends on Preferred Stock | (2,359) | (2,485) | (2,485) | ||||||||||||||
| Net income available for common stockholders | $ | 157,253 | $ | 99,763 | $ | 146,230 | |||||||||||
| Denominator: | |||||||||||||||||
Denominator for basic earnings per Common Share – weighted average shares (1) | 108,454 | 106,167 | 105,529 | ||||||||||||||
| Net income available for common stockholders | $ | 1.45 | $ | 0.94 | $ | 1.39 | |||||||||||
| Earnings per Common Share - diluted: | |||||||||||||||||
| Numerator: | |||||||||||||||||
| Net income | $ | 162,650 | $ | 104,254 | $ | 151,330 | |||||||||||
| Net loss attributable to noncontrolling interests in consolidated affiliates | 74 | 34 | 549 | ||||||||||||||
| Dividends on Preferred Stock | (2,359) | (2,485) | (2,485) | ||||||||||||||
| Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership | $ | 160,365 | $ | 101,803 | $ | 149,394 | |||||||||||
| Denominator: | |||||||||||||||||
Denominator for basic earnings per Common Share – weighted average shares (1) | 108,454 | 106,167 | 105,529 | ||||||||||||||
| Add: | |||||||||||||||||
| Noncontrolling interests Common Units | 2,116 | 2,152 | 2,256 | ||||||||||||||
| Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions | 110,570 | 108,319 | 107,785 | ||||||||||||||
| Net income available for common stockholders | $ | 1.45 | $ | 0.94 | $ | 1.39 | |||||||||||
| Year Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Earnings per Common Unit - basic: | |||||||||||||||||
| Numerator: | |||||||||||||||||
| Net income | $ | 162,650 | $ | 104,254 | $ | 151,330 | |||||||||||
| Net loss attributable to noncontrolling interests in consolidated affiliates | 74 | 34 | 549 | ||||||||||||||
| Distributions on Preferred Units | (2,359) | (2,485) | (2,485) | ||||||||||||||
| Net income available for common unitholders | $ | 160,365 | $ | 101,803 | $ | 149,394 | |||||||||||
| Denominator: | |||||||||||||||||
Denominator for basic earnings per Common Unit – weighted average units (1) | 110,161 | 107,910 | 107,376 | ||||||||||||||
| Net income available for common unitholders | $ | 1.46 | $ | 0.94 | $ | 1.39 | |||||||||||
| Earnings per Common Unit - diluted: | |||||||||||||||||
| Numerator: | |||||||||||||||||
| Net income | $ | 162,650 | $ | 104,254 | $ | 151,330 | |||||||||||
| Net loss attributable to noncontrolling interests in consolidated affiliates | 74 | 34 | 549 | ||||||||||||||
| Distributions on Preferred Units | (2,359) | (2,485) | (2,485) | ||||||||||||||
| Net income available for common unitholders | $ | 160,365 | $ | 101,803 | $ | 149,394 | |||||||||||
| Denominator: | |||||||||||||||||
Denominator for basic earnings per Common Unit – weighted average units (1) | 110,161 | 107,910 | 107,376 | ||||||||||||||
| Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions | 110,161 | 107,910 | 107,376 | ||||||||||||||
| Net income available for common unitholders | $ | 1.46 | $ | 0.94 | $ | 1.39 | |||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 10, 2026 | Showing above |
| 2024 | Feb 11, 2025 | |
| 2023 | Feb 6, 2024 | |
| 2022 | Feb 7, 2023 | |
| 2021 | Feb 8, 2022 | |
| 2020 | Feb 9, 2021 | |
| 2019 | Feb 4, 2020 | |
| 2018 | Feb 5, 2019 | |
| 2017 | Feb 6, 2018 | |
| 2016 | Feb 7, 2017 | |
| 2015 | Feb 9, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.