Segment Information (Tables)

12 Months Ended

Dec. 31, 2025

The following tables summarize rental and other revenues, rental property and other expenses, net operating income and total assets for each of our reportable segments. Net operating income is the primary industry property-level performance metric used by our chief operating decision maker and is defined as rental and other revenues less rental property and other expenses. Our chief operating decision maker uses net operating income to help assess segment performance and decide how to allocate resources accordingly.


	Year Ended December 31,
	2025		2024		2023
Rental and other revenues:

Atlanta	$	144,957	$	146,168	$	143,741
Charlotte	93,392		88,003		85,984
Nashville	156,603		169,158		171,797
Orlando	57,131		58,442		58,002

Raleigh	180,735		173,156		181,964
Richmond	36,192		35,265		35,918
Tampa	88,038		98,887		99,421
Rental and other revenues for reportable segments	757,048		769,079		776,827



Other	49,064		56,783		57,170
Total rental and other revenues	806,112		825,862		833,997


Rental property and other expenses:
Atlanta	56,982	57,453	54,041
Charlotte	25,866	24,419	22,063
Nashville	44,818	45,143	46,380
Orlando	21,706	23,094	22,840
Raleigh	46,867	47,046	49,702
Richmond	11,654	11,140	11,162
Tampa	33,651	37,603	37,039
Rental property and other expenses for reportable segments	241,544	245,898	243,227
Other	19,829	26,275	25,555
Total rental property and other expenses	261,373	272,173	268,782


Net operating income:
Atlanta	87,975		88,715		89,700
Charlotte	67,526		63,584		63,921
Nashville	111,785		124,015		125,417
Orlando	35,425		35,348		35,162
Raleigh	133,868		126,110		132,262
Richmond	24,538		24,125		24,756
Tampa	54,387		61,284		62,382
Net operating income for reportable segments	515,504		523,181		533,600
Other	29,235		30,508		31,615
Total net operating income	$	544,739	$	553,689	$	565,215


	Year Ended December 31,
	2025		2024		2023
















Reconciliation to net income:
Depreciation and amortization	$	(294,954)	$	(299,046)	$	(299,411)
Impairments of real estate assets	(8,800)		(24,600)		—
General and administrative expenses	(40,307)		(41,903)		(42,857)
Interest expense	(152,433)		(147,198)		(136,710)
Other income	9,587		12,337		4,435
Gains on disposition of property	107,149		46,817		47,773
Gain on deconsolidation of affiliate	—		—		11,778
Loss on disposition of investment in unconsolidated affiliate	(4,700)		—		—
Equity in earnings of unconsolidated affiliates	2,369		4,158		1,107
Net income	$	162,650	$	104,254	$	151,330


	December 31,
	2025		2024

Total assets:

Atlanta	$	928,924	$	958,101
Charlotte	1,225,852		950,068
Nashville	1,214,010		1,231,940
Orlando	267,110		276,070

Raleigh	1,308,827		1,182,217
Richmond	147,118		157,431
Tampa	400,801		463,884
Total assets for reportable segments	5,492,642		5,219,711
Other	781,196		809,644
Total assets	$	6,273,838	$	6,029,355

HIGHWOODS PROPERTIES, INC. 10-K