Highwoods Properties Inc. (HIW) Financial Statements (2025 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)
| 9/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 25,123 | 21,357 | 23,152 | 109,322 | 9,505 | 3,769 | |||
| Cash and cash equivalents | 25,123 | 21,357 | 23,152 | 109,322 | 9,505 | 3,769 | |||
| Total current assets: | 25,123 | 21,357 | 23,152 | 109,322 | 9,505 | 3,769 | |||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 540,050 | 548,720 | 549,228 | 466,872 | 515,095 | 491,441 | |||
| Long-term investments and receivables | 343,241 | 269,221 | 7,383 | 27,104 | 26,298 | 23,585 | |||
| Long-term investments | 343,241 | 269,221 | 7,383 | 27,104 | 26,298 | 23,585 | |||
| Intangible assets, net (including goodwill) | 225,924 | 252,828 | 258,902 | 209,329 | 231,347 | 195,273 | |||
| Intangible assets, net (excluding goodwill) | 225,924 | 252,828 | 258,902 | 209,329 | 231,347 | 195,273 | |||
| Total noncurrent assets: | 1,109,215 | 1,070,769 | 815,513 | 703,305 | 772,740 | 710,299 | |||
| Other undisclosed assets | 4,868,590 | 4,971,250 | 4,856,473 | 4,396,790 | 4,355,999 | 3,960,941 | |||
| TOTAL ASSETS: | 6,002,928 | 6,063,376 | 5,695,138 | 5,209,417 | 5,138,244 | 4,675,009 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Noncurrent Liabilities | |||||||||
| Liabilities, other than long-term debt | 2,172 | 8,535 | 12,943 | ||||||
| Off-market lease, unfavorable | 2,172 | 8,535 | 12,943 | ||||||
| Total noncurrent liabilities: | 2,172 | 8,535 | 12,943 | ||||||
| Other undisclosed liabilities | 3,515,386 | 3,496,227 | 3,075,356 | 2,738,748 | 2,817,678 | 2,304,753 | |||
| Total liabilities: | 3,515,386 | 3,498,399 | 3,083,891 | 2,738,748 | 2,830,621 | 2,304,753 | |||
| Temporary equity, carrying amount | 49,520 | 65,977 | 111,689 | 112,499 | 133,216 | 105,960 | |||
| Equity | |||||||||
| Equity, attributable to parent | 2,433,297 | 2,476,765 | 2,477,142 | 2,336,124 | 2,152,397 | 2,246,720 | |||
| Preferred stock | 28,811 | 28,821 | 28,821 | 28,826 | 28,859 | 28,877 | |||
| Common stock | 1,057 | 1,052 | 1,049 | 1,039 | 1,038 | 1,036 | |||
| Additional paid in capital | 3,103,446 | 3,081,330 | 3,027,861 | 2,993,946 | 2,954,779 | 2,976,197 | |||
| Accumulated other comprehensive income (loss) | (1,997) | (1,211) | (973) | (1,462) | (471) | 9,913 | |||
| Accumulated deficit | (698,020) | (633,227) | (579,616) | (686,225) | (831,808) | (769,303) | |||
| Equity, attributable to noncontrolling interest | 4,725 | 22,235 | 22,416 | 22,046 | 22,010 | 17,576 | |||
| Total equity: | 2,438,022 | 2,499,000 | 2,499,558 | 2,358,170 | 2,174,407 | 2,264,296 | |||
| TOTAL LIABILITIES AND EQUITY: | 6,002,928 | 6,063,376 | 5,695,138 | 5,209,417 | 5,138,244 | 4,675,009 | |||
Income Statement (P&L) ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 833,997 | 828,929 | 768,007 | 736,900 | 735,979 | |||
| Operating lease, lease income | 819,900 | 816,300 | 754,900 | 726,000 | 723,100 | ✕ | ||
| Cost of revenue (Provision for Loan, Lease, and Other Losses) | (425) | (5,458) | (9,861) | |||||
| Gross profit: | 833,997 | 828,929 | 767,582 | 731,442 | 726,118 | |||
| Operating expenses | (611,050) | (626,197) | (536,244) | (516,219) | (552,931) | (512,799) | ||
| Other undisclosed operating income | 342,268 | 366,391 | 300,233 | 289,852 | 314,281 | 990,419 | ||
| Operating income: | 565,215 | 569,123 | 531,571 | 505,075 | 487,468 | 477,620 | ||
| Nonoperating income (expense) | 16,213 | 1,530 | 1,394 | (1,707) | (2,510) | 1,940 | ||
| Investment income, nonoperating | 11,778 | |||||||
| Other nonoperating income (expense) | 4,435 | 1,530 | 1,394 | (1,707) | (2,510) | 1,940 | ||
| Interest and debt expense | (136,710) | (105,385) | (86,139) | (84,636) | (81,648) | (71,422) | ||
| Other undisclosed loss from continuing operations before equity method investments, income taxes | (270,384) | |||||||
| Income from continuing operations before equity method investments, income taxes: | 444,718 | 465,268 | 446,826 | 418,732 | 403,310 | 137,754 | ||
| Income from equity method investments | 1,107 | 1,535 | 1,947 | 4,005 | 3,276 | 2,238 | ||
| Income from continuing operations before income taxes: | 445,825 | 466,803 | 448,773 | 422,737 | 406,586 | 139,992 | ||
| Other undisclosed income from continuing operations | 37,638 | |||||||
| Income from continuing operations: | 445,825 | 466,803 | 448,773 | 422,737 | 406,586 | 177,630 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 448,773 | 422,737 | 406,586 | 177,630 | |
| Other undisclosed net loss | (294,495) | (302,845) | (125,463) | (64,823) | (264,903) | |||
| Net income: | 151,330 | 163,958 | 323,310 | 357,914 | 141,683 | 177,630 | ||
| Net loss attributable to noncontrolling interest | (2,615) | (4,900) | (10,033) | (10,512) | (4,765) | (5,795) | ||
| Net income attributable to parent: | 148,715 | 159,058 | 313,277 | 347,402 | 136,918 | 171,835 | ||
| Preferred stock dividends and other adjustments | (2,485) | (2,486) | (2,486) | (2,488) | (2,488) | (2,492) | ||
| Net income available to common stockholders, basic: | 146,230 | 156,572 | 310,791 | 344,914 | 134,430 | 169,343 | ||
| Other undisclosed net income available to common stockholders, diluted | 3,164 | 3,670 | 8,321 | 9,338 | 3,551 | 4,588 | ||
| Net income available to common stockholders, diluted: | 149,394 | 160,242 | 319,112 | 354,252 | 137,981 | 173,931 | ||
Comprehensive Income ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 151,330 | 163,958 | 323,310 | 357,914 | 141,683 | 177,630 | ||
| Other comprehensive income (loss) | (786) | (238) | 489 | (991) | (10,384) | 2,075 | ||
| Comprehensive income: | 150,544 | 163,720 | 323,799 | 356,923 | 131,299 | 179,705 | ||
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (2,615) | (4,900) | (10,033) | (10,512) | (4,765) | (5,795) | ||
| Comprehensive income, net of tax, attributable to parent: | 147,929 | 158,820 | 313,766 | 346,411 | 126,534 | 173,910 | ||
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.