Stockholders’ Equity

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



	September 30, 2018	December 31, 2017
Preferred Stock:
Authorized shares	50,000,000	50,000,000
Issued shares	14,375,000	14,375,000
Outstanding shares	14,369,965	14,370,060

Common Stock, $1.00 par value:
Authorized shares	700,000,000	700,000,000
Issued shares	376,759,924	372,852,311
Outstanding shares	375,576,579	371,731,551

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



	Nine Months Ended
	September 30, 2018			September 30, 2017
			Weighted Avg.			Weighted Avg.
	Shares		Dividend Rate	Shares		Dividend Rate
Beginning balance	14,370,060		6.50%	25,875,000		6.50%
Shares redeemed	—		0.00%	(11,500,000	)	6.50%
Shares converted	(95	)	6.50%	(4,935	)	6.50%
Ending balance	14,369,965		6.50%	14,370,065		6.50%

During the nine months ended September 30, 2017, we recognized a charge of $9,769,000 in connection with the redemption of the Series J preferred stock.

Common Stock. The following is a summary of our common stock issuances during the nine months ended September 30, 2018 and 2017 (dollars in thousands, except average price amounts):



	Shares Issued	Average Price	Gross Proceeds		Net Proceeds
2017 Dividend reinvestment plan issuances	4,312,447	$71.14	$	306,785	$	305,996
2017 Option exercises	209,192	50.62	10,590		10,590
2017 Equity shelf program issuances	2,986,574	72.30	215,917		214,406
2017 Preferred stock conversions	4,296		—		—
2017 Redemption of equity membership units	91,180		—		—
2017 Stock incentive plans, net of forfeitures	135,773		—		—
2017 Totals	7,739,462		$	533,292	$	530,992

2018 Dividend reinvestment plan issuances	1,755,446	$64.24	$	112,770	$	112,294
2018 Option exercises	32,120	39.94	1,283		1,283
2018 Equity shelf program issuances	1,944,511	66.72	129,744		128,834
2018 Preferred stock conversions	83		—		—
2018 Stock incentive plans, net of forfeitures	112,868		—		—
2018 Totals	3,845,028		$	243,797	$	242,411

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



	Nine Months Ended
	September 30, 2018				September 30, 2017
	Per Share		Amount		Per Share		Amount
Common Stock	$	2.6100	$	971,280	$	2.6100	$	955,631
Series I Preferred Stock	2.4375		35,028		2.4375		35,035
Series J Preferred Stock	—		—		0.2347		2,699
Totals			$	1,006,308			$	993,365

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, 2017	$	(110,581	)	$	—		$	(884	)	$	—		$	(111,465	)
Other comprehensive income before reclassification adjustments	(27,026		)	—			—			—			(27,026		)
Net current-period other comprehensive income	(27,026		)	—			—			—			(27,026		)
Balance at September 30, 2018	$	(137,607	)	$	—		$	(884	)	$	—		$	(138,491	)

Balance at December 31, 2016	$	(173,496	)	$	5,120		$	(1,153	)	$	(2	)	$	(169,531	)
Other comprehensive income before reclassification adjustments	48,574			(20,285		)	—			2			28,291
Net current-period other comprehensive income	48,574			(20,285		)	—			2			28,291
Balance at September 30, 2017	$	(124,922	)	$	(15,165	)	$	(1,153	)	$	—		$	(141,240	)