Stockholders' Equity

6 Months Ended

Jun. 30, 2014

Stockholders' Equity [Abstract]

Stockholders' Equity

13. Stockholders’ Equity

     The following is a summary of our stockholders’ equity capital accounts as of the dates indicated:

	June 30, 2014	December 31, 2013
Preferred Stock:
Authorized shares	50,000,000	50,000,000
Issued shares	25,875,000	26,108,236
Outstanding shares	25,875,000	26,108,236
Common Stock, $1.00 par value:
Authorized shares	700,000,000	400,000,000
Issued shares	308,976,931	290,024,789
Outstanding shares	308,329,737	289,563,651

Preferred Stock. The following is a summary of our preferred stock activity during the periods indicated:

	Six Months Ended
	June 30, 2014		June 30, 2013
		Weighted Avg.		Weighted Avg.
	Shares	Dividend Rate	Shares	Dividend Rate
Beginning balance	26,108,236	6.496%	26,224,854	6.493%
Shares converted	(233,236)	6.000%	-	0.000%
Ending balance	25,875,000	6.500%	26,224,854	6.493%

Common Stock. The following is a summary of our common stock issuances during the six months ended June 30, 2014 and 2013 (dollars in thousands, except per share amounts):

	Shares Issued		Average Price		Gross Proceeds		Net Proceeds
2013 Public issuances	23,000,000	$	73.50	$	1,690,500	$	1,630,636
2013 Dividend reinvestment plan issuances	1,370,661		66.87		91,651		91,651
2013 Option exercises	186,404		42.64		7,948		7,948
2013 Stock incentive plans, net of forfeitures	301,544				-		-
2013 Senior note conversions	18				-		-
2013 Totals	24,858,627			$	1,790,099	$	1,730,235
2014 Public issuances	16,100,000	$	62.35	$	1,003,835	$	968,517
2014 Dividend reinvestment plan issuances	2,132,427		58.73		125,232		125,232
2014 Option exercises	175,699		46.78		8,220		8,220
2014 Preferred stock conversions	233,236				-		-
2014 Stock incentive plans, net of forfeitures	124,723				-		-
2014 Senior note conversions	1				-		-
2014 Totals	18,766,086			$	1,137,287	$	1,101,969

Dividends. The increase in dividends is primarily attributable to increases in our common shares outstanding as described above and an increase in common dividends per share. The following is a summary of our dividend payments (in thousands, except per share amounts):

	Six Months Ended
	June 30, 2014				June 30, 2013
	Per Share		Amount		Per Share		Amount
Common Stock	$	1.5900	$	462,551	$	1.5300	$	399,815
Series H Preferred Stock		0.0079		1		1.4292		500
Series I Preferred Stock		1.6250		23,360		1.6250		23,359
Series J Preferred Stock		0.8126		9,344		0.8126		9,344
Totals			$	495,256			$	433,018

Accumulated Other Comprehensive Income. The following is a summary of accumulated other comprehensive income(loss) for the periods presented (in thousands):

		Unrecognized gains (losses) related to:
		Foreign Currency Translation		Equity Investments		Actuarial losses		Cash Flow Hedges		Total
Balance at December 31, 2013	$	(17,631)	$	(389)	$	(1,452)	$	(5,059)	$	(24,531)
Other comprehensive income before reclassification adjustments		4,628		389		-		(7)		5,010
Reclassification amount to net income		-		-		-		879(1)		879
Net current-period other comprehensive income		4,628		389		-		872		5,889
Balance at June 30, 2014	$	(13,003)	$	-	$	(1,452)	$	(4,187)	$	(18,642)
Balance at December 31, 2012	$	(881)	$	(216)	$	(2,974)	$	(6,957)	$	(11,028)
Other comprehensive income before reclassification adjustments		(39,003)		(86)		-		(8)		(39,097)
Reclassification amount to net income		-		-		-		951(1)		951
Net current-period other comprehensive income		(39,003)		(86)		-		943		(38,146)
Balance at June 30, 2013	$	(39,884)	$	(302)	$	(2,974)	$	(6,014)	$	(49,174)
(1) Please see Note 11 for additional information.