Equity

3 Months Ended

Mar. 31, 2017

Equity [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

Equity

Declaration and Payment of Dividends

During the three months ended March 31, 2017, the following dividend was declared and paid:

Equity Type	Declaration Date	Record Date	Payment Date	Dividends Per Share		Aggregate Payment Amount (In millions)
Common Stock	February 17, 2017	March 17, 2017	March 31, 2017	$	0.95	$	343.3	(a)

(a) Inclusive of dividends accrued for holders of unvested restricted stock units, which are paid at the time the restricted stock units vest.

Purchases of the Company's Common Stock

For the three months ended March 31, 2017, the Company purchased 0.2 million shares of its common stock utilizing $22.0 million in cash. The common stock shares purchased relate to shares withheld in connection with the payment of withholding taxes upon vesting of restricted stock.

"At the Market" Stock Offering Program

The Company maintains an "at the market" stock offering program ("ATM Program") through which it may, from time to time, issue and sell shares of its common stock having an aggregate cumulative gross sales price of up to $500.0 million to or through sales agents. Sales, if any, under the ATM Program may be made by means of ordinary brokers' transactions on the New York Stock Exchange or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or, subject to specific instructions of the Company, at negotiated prices. The Company intends to use the net proceeds from any sales under the ATM Program for general corporate purposes, which may include the funding of future acquisitions or investments and the repayment or repurchase of any outstanding indebtedness. During the three months ended March 31, 2017, 0.2 million shares of common stock were sold under the ATM Program generating net proceeds of $22.0 million after giving effect to sales agent commissions of $0.2 million. As of March 31, 2017, the Company had approximately $150 million of gross sales of common stock availability remaining on the ATM Program.

See note 12 for information regarding our May 2017 financing activities.