Equity

9 Months Ended

Sep. 30, 2014

Equity

Equity

(13) Equity

Common Stock

The following table lists the common stock cash dividends declared by the Company in 2014:

		Amount		Dividend
Declaration Date	Record Date	Per Share		Payable Date
January 30	February 10	$	0.545	February 25
May 1	May 12		0.545	May 27
July 31	August 11		0.545	August 26
October 30	November 10		0.545	November 25

The following is a summary of the Company’s common stock issuances (shares in thousands):

	Nine Months Ended September 30,
	2014	2013
Dividend Reinvestment and Stock Purchase Plan	1,775	1,681
Conversion of DownREIT units(1)	2	85
Exercise of stock options	131	875
Vesting of restricted stock units	575	110

(1)  Non-managing member LLC units.

Accumulated Other Comprehensive Loss

The following is a summary of the Company’s accumulated other comprehensive loss (in thousands):

	September 30,		December 31,
	2014		2013
Unrealized losses on available for sale securities	$	(5)	$	—
Unrealized losses on cash flow hedges, net		(9,734)		(10,797)
Supplemental Executive Retirement Plan minimum liability		(2,747)		(2,910)
Cumulative foreign currency translation adjustment		(4,978)		(780)
Total accumulated other comprehensive loss	$	(17,464)	$	(14,487)

Noncontrolling Interests

At September 30, 2014, non-managing members held an aggregate of 4 million units in five limited liability companies (“DownREITs”), for which the Company is the managing member. At September 30, 2014, the carrying and fair values of these DownREIT units were $189 million and $242 million, respectively.

Severance-related charges

The Company’s Board of Directors, after its deliberations during the third quarter 2013, terminated its former Chairman, Chief Executive Officer and President on October 2, 2013. As a result of the termination, general and administrative expenses for the three and nine months ended September 30, 2013 include severance-related charges of $26.4 million related to: (i) the acceleration of $16.7 million of deferred compensation for restricted stock units and options that vested upon termination; and (ii) severance payments and other costs of approximately $9.7 million.