HIGHWOODS PROPERTIES INC
For the period ended Jun 30, 2024. Filed Jul 23, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Jul 23, 2024
HIW$31.47-0.8%Stored close · as of Nov 6, 2026
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HIGHWOODS PROPERTIES, INC.: Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023
Consolidated Balance Sheets
(Unaudited and in thousands, except share and per share data)
| June 30,2024 | December 31,2023 | |
|---|---|---|
| Assets: | ||
| Real estate assets, at cost: | ||
| Land | $533,361 | $540,050 |
| Buildings and tenant improvements | 5,940,252 | 5,960,895 |
| Development in-process | — | 8,918 |
| Land held for development | 222,157 | 227,058 |
| 6,695,770 | 6,736,921 | |
| Less-accumulated depreciation | (1,795,361) | (1,743,390) |
| Net real estate assets | 4,900,409 | 4,993,531 |
| Real estate and other assets, net, held for sale | 3,875 | — |
| Cash and cash equivalents | 27,003 | 25,123 |
| Restricted cash | 9,802 | 6,446 |
| Accounts receivable | 30,432 | 28,094 |
| Mortgages and notes receivable | 10,993 | 4,795 |
| Accrued straight-line rents receivable | 313,721 | 310,649 |
| Investments in and advances to unconsolidated affiliates | 378,761 | 343,241 |
| Deferred leasing costs, net of accumulated amortization of $183,154 and $175,697, respectively | 217,773 | 225,924 |
| Prepaid expenses and other assets, net of accumulated depreciation of $18,566 and $22,142, respectively | 78,704 | 65,125 |
| Total Assets | $5,971,473 | $6,002,928 |
| Liabilities, Noncontrolling Interests in the Operating Partnership and Equity: | ||
| Mortgages and notes payable, net | $3,191,429 | $3,213,206 |
| Accounts payable, accrued expenses and other liabilities | 304,733 | 302,180 |
| Total Liabilities | 3,496,162 | 3,515,386 |
| Commitments and contingencies | ||
| Noncontrolling interests in the Operating Partnership | 56,518 | 49,520 |
| Equity: | ||
| Preferred Stock, $.01 par value, 50,000,000 authorized shares; | ||
| 8.625% Series A Cumulative Redeemable Preferred Shares (liquidation preference $1,000 per share), 28,811 shares issued and outstanding | 28,811 | 28,811 |
| Common Stock, $.01 par value, 200,000,000 authorized shares; | ||
| 106,010,262 and 105,710,315 shares issued and outstanding, respectively | 1,060 | 1,057 |
| Additional paid-in capital | 3,101,381 | 3,103,446 |
| Distributions in excess of net income available for common stockholders | (714,956) | (698,020) |
| Accumulated other comprehensive loss | (2,121) | (1,997) |
| Total Stockholders’ Equity | 2,414,175 | 2,433,297 |
| Noncontrolling interests in consolidated affiliates | 4,618 | 4,725 |
| Total Equity | 2,418,793 | 2,438,022 |
| Total Liabilities, Noncontrolling Interests in the Operating Partnership and Equity | $5,971,473 | $6,002,928 |
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