Equity

3 Months Ended

Mar. 31, 2016

Equity

Equity

NOTE 12.  Equity

Common Stock

The following table lists the common stock cash dividends declared by the Company in 2016:

		Amount		Dividend
Declaration Date	Record Date	Per Share		Payable Date
January 28	February 8	$	0.575	February 23
April 27	May 9		0.575	May 24

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

	Three Months Ended March 31,
	2016	2015
Dividend Reinvestment and Stock Purchase Plan	1,081	829
Conversion of DownREIT units(1)	99	38
Exercise of stock options	111	811
Vesting of restricted stock units	248	288
Repurchase of common stock	102	128

(1) Non-managing member limited liability company (“LLC”) units.

Accumulated Other Comprehensive Loss

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

	March 31,		December 31,
	2016		2015
Cumulative foreign currency translation adjustment	$	(20,222)	$	(19,485)
Unrealized losses on cash flow hedges, net		(8,103)		(7,582)
Supplemental Executive Retirement Plan minimum liability		(3,341)		(3,411)
Unrealized (losses) gains on available for sale securities		(7)		8
Total accumulated other comprehensive loss	$	(31,673)	$	(30,470)

Noncontrolling Interests

At March 31, 2016, 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 March 31, 2016, the carrying and fair values of these DownREIT units were $181 million and $191 million, respectively.

See Note 15 for the supplemental schedule of non-cash financing activities.