Stockholders' Equity

9 Months Ended

Sep. 30, 2015

Stockholders' Equity [Abstract]

Stockholders' Equity

13. Stockholders’ Equity

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

	September 30, 2015	December 31, 2014
Preferred Stock:
Authorized shares	50,000,000	50,000,000
Issued shares	25,875,000	25,875,000
Outstanding shares	25,875,000	25,875,000
Common Stock, $1.00 par value:
Authorized shares	700,000,000	700,000,000
Issued shares	353,814,909	329,487,615
Outstanding shares	352,998,274	328,790,066

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

	Nine Months Ended
	September 30, 2015		September 30, 2014
		Weighted Avg.		Weighted Avg.
	Shares	Dividend Rate	Shares	Dividend Rate
Beginning balance	25,875,000	6.500%	26,108,236	6.496%
Shares converted	-	0.000%	(233,236)	6.000%
Ending balance	25,875,000	6.500%	25,875,000	6.500%

Common Stock. The following is a summary of our common stock issuances during the nine months ended September 30, 2015 and 2014 (dollars in thousands, except per share amounts):

	Shares Issued		Average Price		Gross Proceeds		Net Proceeds
June 2014 public issuance	16,100,000	$	62.35	$	1,003,835	$	968,517
September 2014 public issuance	17,825,000		63.75		1,136,344		1,095,883
2014 Dividend reinvestment plan issuances	3,114,052		60.05		186,996		186,996
2014 Option exercises	207,046		45.94		9,512		9,512
2014 Stock incentive plans, net of forfeitures	186,837				-		-
2014 Senior note conversions	199,943				-		-
2014 Preferred stock conversions	233,236				-		-
2014 Totals	37,866,114			$	2,336,687	$	2,260,908
February 2015 public issuance	19,550,000	$	75.50	$	1,476,025	$	1,423,935
2015 Dividend reinvestment plan issuances	2,935,950		70.28		206,334		206,334
2015 Option exercises	247,005		47.42		11,712		11,712
2015 Stock incentive plans, net of forfeitures	144,779				-		-
2015 Senior note conversions	1,330,474				-		-
2015 Totals	24,208,208			$	1,694,071	$	1,641,981

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):

	Nine Months Ended
	September 30, 2015				September 30, 2014
	Per Share		Amount		Per Share		Amount
Common Stock	$	2.4750	$	852,563	$	2.3850	$	708,923
Series H Preferred Stock		-		-		0.0079		1
Series I Preferred Stock		2.4375		35,039		2.4375		35,040
Series J Preferred Stock		1.2189		14,016		1.2189		14,016
Totals			$	901,618			$	757,980

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		Available for Sale Securities		Actuarial Losses		Cash Flow Hedges		Total
Balance at December 31, 2014	$	(74,770)	$	-	$	(1,589)	$	(650)	$	(77,009)
Other comprehensive income before reclassification adjustments		2,071		(18,186)		-		(2,625)		(18,740)
Reclassification amount to net income		-		-		-		1,390 (1)		1,390
Net current-period other comprehensive income		2,071		(18,186)		-		(1,235)		(17,350)
Balance at September 30, 2015	$	(72,699)	$	(18,186)	$	(1,589)	$	(1,885)	$	(94,359)
Balance at December 31, 2013	$	(17,631)	$	(389)	$	(1,452)	$	(5,059)	$	(24,531)
Other comprehensive income before reclassification adjustments		(29,361)		389		-		(11)		(28,983)
Reclassification amount to net income		(528)		-		-		1,338 (1)		810
Net current-period other comprehensive income		(29,889)		389		-		1,327		(28,173)
Balance at September 30, 2014	$	(47,520)	$	-	$	(1,452)	$	(3,732)	$	(52,704)
(1) Please see note 11 for additional information.