Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2015

Accumulated Other Comprehensive Income (Loss) [Line Items]

Accumulated Other Comprehensive Loss of the Company/Operating Partnership

Stockholders’ Equity of the Company

Common Stock

Our authorized capital stock consists of 260,000,000 shares, $0.01 par value per share, consisting of 160,000,000 shares of common stock, $0.01 par value per share, 75,000,000 shares of excess stock, at $0.01 par value per share, and 25,000,000 shares of preferred stock, par value $0.01 per share. As of December 31, 2015, 99,975,238 shares of common stock and no shares of excess stock were issued and outstanding.

At-The-Market Equity Offering Program

In July 2011, the Company, along with the Operating Partnership, entered into an "at-the-market" equity offering program, or ATM Program, to sell an aggregate of $250.0 million of SL Green's common stock. During the year ended December 31, 2014, we sold 25,659 shares of our common stock out of the remaining balance of the ATM Program for aggregate net proceeds of $2.8 million. The net proceeds from these offerings were contributed to the Operating Partnership in exchange for 25,659 units of limited partnership interest of the Operating Partnership.

In June 2014, the Company, along with the Operating Partnership, entered into an "at-the-market" equity offering program, or ATM Program, to sell an aggregate of $300.0 million of SL Green's common stock. During the year ended December 31, 2014, we sold 1,626,999 shares of our common stock for aggregate net proceeds of $182.9 million. The net proceeds from these offerings were contributed to the Operating Partnership in exchange for 1,626,999 units of limited partnership interest of the Operating Partnership. During the three months ended March 31, 2015, we sold 895,956 shares of our common stock for aggregate net proceeds of $113.4 million comprising the remaining balance of this ATM Program. The net proceeds from these offerings were contributed to the Operating Partnership in exchange for 895,956 units of limited partnership interest of the Operating Partnership.

In March 2015, the Company, along with the Operating Partnership, entered into a new ATM Program to sell an aggregate of $300.0 million of SL Green's common stock. During the year ended December 31, 2015, we sold 91,180 shares of our common stock for aggregate net proceeds of $12.0 million. The net proceeds from these offerings were contributed to the Operating Partnership in exchange for 91,180 units of limited partnership interest of the Operating Partnership. As of December 31, 2015, $288.0 million remained available for issuance of common stock under the new ATM program.

Perpetual Preferred Stock

We have 9,200,000 shares of our 6.50% Series I Cumulative Redeemable Preferred Stock, or the Series I Preferred Stock, outstanding with a mandatory liquidation preference of $25.00 per share. The Series I Preferred stockholders receive annual dividends of $1.625 per share paid on a quarterly basis and dividends are cumulative, subject to certain provisions. We are entitled to redeem the Series I Preferred Stock at par for cash at our option on or after August 10, 2017. In August 2012, we received $221.9 million in net proceeds from the issuance of the Series I Preferred Stock, which were recorded net of underwriters' discount and issuance costs, and contributed the net proceeds to the Operating Partnership in exchange for 9,200,000 units of 6.50% Series I Cumulative Redeemable Preferred Units of limited partnership interest, or the Series I Preferred Units.

Dividend Reinvestment and Stock Purchase Plan

In February 2015, the Company filed a registration statement with the SEC for our dividend reinvestment and stock purchase plan, or DRSPP, which automatically became effective upon filing. The Company registered 3,500,000 shares of SL Green's common stock under the DRSPP. The DRSPP commenced on September 24, 2001.

The following table summarizes SL Green common stock issued, and proceeds received from dividend reinvestments and/or stock purchases under the DRSPP for the year ended December 31, 2015, 2014, and 2013, respectively (in thousands):

	Year Ended December 31,
	2015		2014		2013
Common Stock Shares Issued	775,760		608		761
Dividend reinvestments/stock purchases under the DRSPP	$	99,555	$	64	$	67

Earnings per Share

SL Green's earnings per share for the years ended December 31, 2015, 2014, and 2013 are computed as follows (in thousands):

	Year Ended December 31,
Numerator	2015		2014		2013
Basic Earnings:
Income attributable to SL Green common stockholders	$	269,132	$	503,104	$	101,330
Effect of Dilutive Securities:
Redemption of units to common shares	10,565		18,467		3,023
Diluted Earnings:
Income attributable to SL Green common stockholders	$	279,697	$	521,571	$	104,353

	Year Ended December 31,
Denominator	2015	2014	2013
Basic Shares:
Weighted average common stock outstanding	99,345	95,774	92,269
Effect of Dilutive Securities:
Redemption of units to common shares	3,899	3,514	2,735
Stock-based compensation plans	490	408	262
Diluted weighted average common stock outstanding	103,734	99,696	95,266

SL Green has excluded 263,991, 737,361, and 964,789 common stock equivalents from the diluted shares outstanding for the years ended December 31, 2015, 2014, and 2013 respectively, as they were anti-dilutive.

SL Green Realty Corp

Accumulated Other Comprehensive Income (Loss) [Line Items]

Accumulated Other Comprehensive Loss of the Company/Operating Partnership

Accumulated Other Comprehensive Loss

The following tables set forth the changes in accumulated other comprehensive income (loss) by component as of December 31, 2015, 2014 and 2013 (in thousands):

	Net unrealized (loss) gain on derivative instruments(1)			SL Green’s share of joint venture net unrealized (loss) gain on derivative instruments(2)			Unrealized gain (loss) on marketable securities			Total
Balance at December 31, 2012	$	(16,834	)	$	(16,063	)	$	3,310		$	(29,587	)
Other comprehensive (loss) income before reclassifications	(168		)	6,267			1,474			7,573
Amounts reclassified from accumulated other comprehensive income	1,877			4,926			—			6,803
Balance at December 31, 2013	(15,125		)	(4,870		)	4,784			(15,211		)
Other comprehensive (loss) income before reclassifications	(576		)	2,847			(2,692		)	(421		)
Amounts reclassified from accumulated other comprehensive income	6,203			1,928			521			8,652
Balance at December 31, 2014	(9,498		)	(95		)	2,613			(6,980		)
Other comprehensive loss before reclassifications	(11,143		)	(1,714		)	(610		)	(13,467		)
Amounts reclassified from accumulated other comprehensive income	10,481			1,217			—			11,698
Balance at December 31, 2015	$	(10,160	)	$	(592	)	$	2,003		$	(8,749	)

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(1) Amount reclassified from accumulated other comprehensive income (loss) is included in interest expense in the respective consolidated statements of operations. As of December 31, 2015 and 2014, the deferred net losses from these terminated hedges, which is included in accumulated other comprehensive loss relating to net unrealized loss on derivative instrument, was $9.7 million and $11.8 million, respectively.

(2) Amount reclassified from accumulated other comprehensive income (loss) is included in equity in net income from unconsolidated joint ventures in the respective consolidated statements of operations.