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Equity and Capital
 3 Months Ended
Mar. 31, 2016
Equity and Capital [Abstract]  
Equity and Capital
Equity and Capital

Common Stock of the Parent Company

Issuances:

The current at the market ("ATM") equity offering program authorizes the Parent Company to sell up to $200 million of common stock at prices determined by the market at the time of sale. As of March 31, 2016, $70.8 million of common stock remained available for issuance under this ATM equity program.

The following table presents the shares that were issued under the ATM equity program:
 
Three months ended March 31,
(dollar amounts are in thousands, except price per share data)
2016
 
2015
Shares issued (1)
182,787

 
18,125

Weighted average price per share
$
68.85

 
$
64.72

Gross proceeds
$
12,584

 
$
1,173

Commissions
$
157

 
$
15

(1) Reflects 182,787 shares traded in December 2015 and settled in January 2016 and 18,125 shares traded December 2014 and settled in January 2015.



In March 2016, the Parent Company entered into a forward sale agreement (the "Forward Equity Offering") with respect to 3.1 million shares of its common stock. Assuming the Forward Equity Offering is physically settled based on the offering price to the public of $75.25 per share, the Forward Equity Offering will result in gross proceeds of approximately $233.3 million, before any underwriting discount and offering expenses. We expect to settle the offering on one or more dates occurring no later than 15 months after the date of the offering.


Common Units of the Operating Partnership

Issuances:
Common units were issued to the Parent Company in relation to the Parent Company's issuance of common stock, as discussed above.

Accumulated Other Comprehensive Loss

The following tables present changes in the balances of each component of AOCI:
 
Controlling Interest
 
Noncontrolling Interest
 
Total
(in thousands)
Cash Flow Hedges
 
Unrealized gain (loss) on Available-For-Sale Securities
 
AOCI
 
Cash Flow Hedges
 
Unrealized gain (loss) on Available-For-Sale Securities
 
AOCI
 
AOCI
Balance as of December 31, 2014
$
(57,748
)
 
—

 
(57,748
)
 
(750
)
 
—

 
(750
)
 
(58,498
)
Other comprehensive income before reclassifications
(13,739
)
 

 
(13,739
)
 
(143
)
 

 
(143
)
 
(13,882
)
Amounts reclassified from accumulated other comprehensive income
2,210

 
—

 
2,210

 
39

 
—

 
39

 
2,249

Current period other comprehensive income, net
(11,529
)
 
—

 
(11,529
)
 
(104
)
 
—

 
(104
)
 
(11,633
)
Balance as of March 31, 2015
$
(69,277
)
 
—

 
(69,277
)
 
(854
)
 
—

 
(854
)
 
(70,131
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Controlling Interest
 
Noncontrolling Interest
 
Total
(in thousands)
Cash Flow Hedges
 
Unrealized gain (loss) on Available-For-Sale Securities
 
AOCI
 
Cash Flow Hedges
 
Unrealized gain (loss) on Available-For-Sale Securities
 
AOCI
 
AOCI
Balance as of December 31, 2015
$
(58,650
)
 
(43
)
 
(58,693
)
 
(785
)
 
—

 
(785
)
 
(59,478
)
Other comprehensive income before reclassifications
(16,581
)
 
(36
)
 
(16,617
)
 
(204
)
 
—

 
(204
)
 
(16,821
)
Amounts reclassified from accumulated other comprehensive income
2,417

 
—

 
2,417

 
36

 
—

 
36

 
2,453

Current period other comprehensive income, net
(14,164
)
 
(36
)
 
(14,200
)
 
(168
)
 
—

 
(168
)
 
(14,368
)
Balance as of March 31, 2016
$
(72,814
)
 
(79
)
 
(72,893
)
 
(953
)
 
—

 
(953
)
 
(73,846
)


The following represents amounts reclassified out of AOCI into income:
AOCI Component
Amount Reclassified from AOCI into income
Affected Line Item Where Net Income is Presented
 
Three months ended March 31,
 
(in thousands)
2016
 
2015
 
Interest rate swaps
$
2,453

 
$
2,249

Interest expense