Highwoods Properties, Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $162.7M | $104.3M | $151.3M | $164.0M | $323.3M | $357.9M | $141.7M | $177.6M |
| Depreciation & Amortization | $295.0M | $299.0M | $299.4M | $287.6M | $259.3M | $241.6M | $254.5M | $230.0M |
| Depreciation | $295.0M | $299.0M | $299.4M | $287.6M | $259.3M | $241.6M | $254.5M | $230.0M |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $8.2M | $8.0M | $7.0M | $7.6M | $8.6M | $6.2M | $7.2M | $7.5M |
| Net Cash from Operating Activities | $359.2M | $403.6M | $387.0M | $421.8M | $414.6M | $358.2M | $365.8M | $358.6M |
| Investing Activities | ||||||||
| Capital Expenditures | — | — | — | — | — | — | — | — |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-440.7M | $-302.4M | $-169.7M | $-614.8M | $-287.7M | $110.7M | $-607.4M | $-306.7M |
| Financing Activities | ||||||||
| Dividends Paid | $216.7M | $212.4M | $211.0M | $210.2M | $204.2M | $199.3M | $196.9M | $191.3M |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $90.8M | $-99.0M | $-205.4M | $187.9M | $-284.9M | $-294.3M | $246.2M | $-130.1M |
| Net Change in Cash | $9.4M | $2.1M | $11.9M | $-5.1M | $-158.0M | $174.5M | $4.6M | $-78.2M |
| Free Cash Flow | — | — | — | — | — | — | — | — |