Equity

9 Months Ended

Sep. 30, 2016

Equity

Equity

NOTE 12.  Equity

Common Stock

The following table summarizes the Company’s common stock cash dividends declared 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
July 28	August 8		0.575	August 23
October 31	November 10		0.370	November 25

The following table summarizes the Company’s other common stock activities (shares in thousands):

	Nine Months Ended September 30,
	2016	2015
Dividend Reinvestment and Stock Purchase Plan	1,763	2,345
Conversion of DownREIT units(1)	145	75
Exercise of stock options	133	820
Vesting of restricted stock units	527	382
Repurchase of common stock	236	178

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

Accumulated Other Comprehensive Loss

The following table summarizes the Company’s accumulated other comprehensive loss (in thousands):

	September 30,		December 31,
	2016		2015
Cumulative foreign currency translation adjustment	$	(21,415)	$	(19,485)
Unrealized losses on cash flow hedges, net		(5,556)		(7,582)
Supplemental Executive Retirement Plan minimum liability		(3,200)		(3,411)
Unrealized gains on available for sale securities		7		8
Total accumulated other comprehensive loss	$	(30,164)	$	(30,470)

Noncontrolling Interests

At September 30, 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 September 30, 2016, the carrying and fair values of these DownREIT units were $180 million and $221 million, respectively.

On October 7, 2015, the Company issued a 49% noncontrolling interest in HCP Ventures V to an institutional capital investor for $110 million (see Note 3).

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