Highwoods Properties, Inc. (HIW) Financial Statements (2024 and earlier)

Company Profile

Business Address 150 FAYETTEVILLE STREET
RALEIGH, NC 27601
State of Incorp. MD
Fiscal Year End December 31
Industry (SIC) 6798 - Real Estate Investment Trusts (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments21,35723,152109,3229,5053,7693,272
Cash and cash equivalents21,35723,152109,3229,5053,7693,272
Total current assets:21,35723,152109,3229,5053,7693,272
Noncurrent Assets
Property, plant and equipment548,720549,228466,872515,095491,441485,956
Long-term investments and receivables269,2217,38327,10426,29823,58523,897
Long-term investments269,2217,38327,10426,29823,58523,897
Intangible assets, net (including goodwill)252,828258,902209,329231,347195,273200,679
Intangible assets, net (excluding goodwill)252,828258,902209,329231,347195,273200,679
Total noncurrent assets:1,070,769815,513703,305772,740710,299710,532
Other undisclosed assets4,971,2504,856,4734,396,7904,355,9993,960,9413,909,987
TOTAL ASSETS:6,063,3765,695,1385,209,4175,138,2444,675,0094,623,791
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Liabilities, other than long-term debt 2,1728,535 12,943  
Off-market lease, unfavorable 2,1728,535 12,943  
Total noncurrent liabilities: 2,1728,535 12,943  
Other undisclosed liabilities3,496,2273,075,3562,738,7482,817,6782,304,7532,242,548
Total liabilities:3,498,3993,083,8912,738,7482,830,6212,304,7532,242,548
Temporary equity, carrying amount65,977111,689112,499133,216105,960144,009
Equity
Equity, attributable to parent2,476,7652,477,1422,336,1242,152,3972,246,7202,219,818
Preferred stock28,82128,82128,82628,85928,87728,892
Common stock1,0521,0491,0391,0381,0361,033
Additional paid in capital3,081,3303,027,8612,993,9462,954,7792,976,1972,929,399
Accumulated other comprehensive income (loss)(1,211)(973)(1,462)(471)9,9137,838
Accumulated deficit(633,227)(579,616)(686,225)(831,808)(769,303)(747,344)
Equity, attributable to noncontrolling interest22,23522,41622,04622,01017,57617,416
Total equity:2,499,0002,499,5582,358,1702,174,4072,264,2962,237,234
TOTAL LIABILITIES AND EQUITY:6,063,3765,695,1385,209,4175,138,2444,675,0094,623,791

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues828,929768,007736,900735,979 702,737
Revenue, net702,737
Operating lease, lease income816,300754,900726,000723,100
Cost of revenue  (425)(5,458)(9,861) (13,117)
Cost of goods and services sold      (13,117)
Provision for loan, lease, and other losses  (425)(5,458)(9,861) 
Gross profit:828,929767,582731,442726,118 689,620
Operating expenses(626,197)(536,244)(516,219)(552,931)(512,799)(505,813)
Other undisclosed operating income366,391300,233289,852314,281990,419282,042
Operating income:569,123531,571505,075487,468477,620465,849
Nonoperating income (expense)1,5301,394(1,707)(2,510)1,9402,283
Investment income, nonoperating      
Other nonoperating income (expense)1,5301,394(1,707)(2,510)1,9402,283
Interest and debt expense(105,385)(86,139)(84,636)(81,648)(71,422)(69,105)
Other undisclosed loss from continuing operations before equity method investments, income taxes     (270,384)(268,925)
Income from continuing operations before equity method investments, income taxes:465,268446,826418,732403,310137,754130,102
Income from equity method investments1,5351,9474,0053,2762,2387,404
Income from continuing operations before income taxes:466,803448,773422,737406,586139,992137,506
Other undisclosed income from continuing operations     37,63854,157
Income from continuing operations:466,803448,773422,737406,586177,630191,663
Income before gain (loss) on sale of properties:448,773422,737406,586177,630191,663
Other undisclosed net loss(302,845)(125,463)(64,823)(264,903)  
Net income:163,958323,310357,914141,683177,630191,663
Net loss attributable to noncontrolling interest(4,900)(10,033)(10,512)(4,765)(5,795)(6,298)
Net income attributable to parent:159,058313,277347,402136,918171,835185,365
Preferred stock dividends and other adjustments(2,486)(2,486)(2,488)(2,488)(2,492)(2,492)
Net income available to common stockholders, basic:156,572310,791344,914134,430169,343182,873
Other undisclosed net income available to common stockholders, diluted3,6708,3219,3383,5514,5885,059
Net income available to common stockholders, diluted:160,242319,112354,252137,981173,931187,932

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:163,958323,310357,914141,683177,630191,663
Other comprehensive income (loss)(238)489(991)(10,384)2,0752,889
Comprehensive income:163,720323,799356,923131,299179,705194,552
Comprehensive loss, net of tax, attributable to noncontrolling interest(4,900)(10,033)(10,512)(4,765)(5,795)(6,298)
Comprehensive income, net of tax, attributable to parent:158,820313,766346,411126,534173,910188,254

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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