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Equity
 6 Months Ended
Jun. 30, 2015
Equity  
Equity

 

NOTE 13.  Equity

Common Stock

The following table lists the common stock cash dividends declared by the Company in 2015:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount

 

Dividend

 

Declaration Date

    

Record Date

    

Per Share

    

Payable Date

 

January 29

 

February 9

 

$
0.565

 

February 24

 

April 30 

 

May 11

 

 
0.565

 

May 26

 

July 30

 

August 10

 

 
0.565

 

August 25

 

 

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

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30,

 

 

    

2015

    

2014

 

Dividend Reinvestment and Stock Purchase Plan 

 
1,645

 
1,386

 

Conversion of DownREIT units(1) 

 
70

 
2

 

Exercise of stock options 

 
817

 
111

 

Vesting of restricted stock units

 
379

 
567

 

Repurchase of common stock

 
171

 
284

 

(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):

 

 

 

 

 

 

 

 

 

 

 

 

June 30,

 

December 31,

 

 

    

2015

    

2014

 

Cumulative foreign currency translation adjustment

 

$
(19,254)

 

$
(10,747)

 

Unrealized losses on cash flow hedges, net

 

 
(9,478)

 

 
(9,624)

 

Supplemental Executive Retirement Plan minimum liability

 

 
(3,399)

 

 
(3,537)

 

Unrealized gains on available for sale securities

 

 
16

 

 
13

 

Total accumulated other comprehensive loss

 

$
(32,115)

 

$
(23,895)

 

 

Noncontrolling Interests

At June 30, 2015, 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 June 30, 2015, the carrying and fair values of these DownREIT units were $186 million and $219 million, respectively.

 

See Note 17 for the supplemental schedule of non-cash financing activities.

 

At-The-Market Program

In June 2015, the Company established an at-the-market equity offering program (“ATM Program”). Under this program, the Company may sell shares of its common stock from time to time having an aggregate gross sales price of up to $750 million through a consortium of banks acting as sales agents or directly to the banks acting as principals. As of June 30, 2015, no shares of common stock have been issued under this ATM Program.