Highwoods Properties, Inc. (HIW)

Highwoods Properties Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	129	102.25	148.72	159.06	313.28	347.4
Depreciation & Amortization	258.3	257.58	254.22	240.58	217.29	202.8
Other Amortization	47.06	48.52	51.21	51.31	44.51	39.34
Gain (Loss) on Sale of Assets	-86.8	-46.82	-47.77	-63.55	-174.06	-215.9
Gain (Loss) on Sale of Investments	-	-	-11.78	-	-	-
Asset Writedown	24.6	24.6	-	36.52	-	1.78
Stock-Based Compensation	8.32	8	6.98	7.55	8.65	6.21
Income (Loss) on Equity Investments	2.63	1.82	0.14	-0.92	-0.53	-2.47
Change in Accounts Receivable	-9.23	-12.85	-25.06	-40.38	-16.36	-36.14
Change in Accounts Payable	-15.75	14.04	3.87	22.22	8.19	-5.95
Change in Other Net Operating Assets	2.6	2.67	1.26	1.69	1.58	-0.37
Other Operating Activities	1.48	1.49	1.34	4.5	11.59	16
Operating Cash Flow	364.07	403.58	386.96	421.78	414.56	358.16
Operating Cash Flow Growth	-10.81%	4.30%	-8.25%	1.74%	15.75%	-2.09%
Acquisition of Real Estate Assets	-375.1	-239.81	-228.99	-466.44	-525.2	-363.13
Sale of Real Estate Assets	161.29	100.93	101.83	130.04	374.02	484.31
Net Sale / Acq. of Real Estate Assets	-213.81	-138.88	-127.17	-336.4	-151.19	121.19
Investment in Marketable & Equity Securities	-121.02	-144.88	-46.02	-261.77	-133.42	0.07
Other Investing Activities	1.42	-12.51	8.07	-16.89	-3.29	-10.85
Investing Cash Flow	-328.63	-302.44	-169.69	-614.8	-287.68	110.68
Long-Term Debt Issued	-	339	839.35	1,225	580	527.36
Long-Term Debt Repaid	-	-262.06	-821.73	-815.44	-663.78	-601.95
Net Debt Issued (Repaid)	139.55	76.94	17.63	409.56	-83.78	-74.59
Issuance of Common Stock	54.97	53.52	1.74	7.57	23.92	3.57
Repurchase of Common Stock	-2.03	-1.44	-1.49	-5.92	-1.72	-1.16
Preferred Share Repurchases	-2.1	-	-0.01	-	-0.01	-0.03
Common Dividends Paid	-217.7	-215.84	-214.72	-214.23	-204.18	-199.33
Preferred Dividends Paid	-2.45	-2.49	-2.49	-2.49	-2.49	-2.49
Total Dividends Paid	-220.15	-218.32	-217.2	-216.72	-206.67	-201.82
Other Financing Activities	-2.48	-9.74	-6.09	-6.56	-16.67	-20.31
Miscellaneous Cash Flow Adjustments	-	-	-6.39	-	-	-
Net Cash Flow	3.2	2.11	5.46	-5.09	-158.05	174.5
Cash Interest Paid	148.75	133.58	129.76	102.5	79.47	72.35
Levered Free Cash Flow	327.26	216.78	355	374.26	454.75	173.24
Unlevered Free Cash Flow	414.74	303.14	435.56	435.8	503.95	220.75
Change in Working Capital	-22.38	3.86	-19.93	-16.47	-6.59	-42.46

Updated Jul 29, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

SEC Filings: 10-K · 10-Q