Equity and Capital

9 Months Ended

Sep. 30, 2017

Equity and Capital [Abstract]

Equity and Capital

Equity and Capital

Preferred Stock of the Parent Company

Redemption:

The Parent Company redeemed all of the issued and outstanding shares of its $250 million6.625% Series 6 cumulative redeemable preferred stock on February 16, 2017. The redemption price of $25.21 per share included accrued and unpaid dividends, resulting in an aggregate amount being paid of $252.0 million. The funds used to redeem the Series 6 preferred stock were provided by the $300 million30 year senior unsecured debt offering completed in January 2017, as discussed in note 4.

On August 23, 2017, the Parent Company also redeemed all of the issued and outstanding shares of its $75 million6% Series 7 cumulative redeemable preferred stock. The redemption price of $25.22 per share included accrued and unpaid dividends resulting in an aggregate amount being paid of $75.7 million. The Company used proceeds from its senior unsecured notes issued in June 2017 to fund the redemption, as discussed in note 4.

Common Stock of the Parent Company

Issuances:

At the Market ("ATM") Program

The Company's ATM equity offering program authorizes the Parent Company to sell up to $500 million of common stock at prices determined by the market at the time of sale. As of September 30, 2017, $500 million of common stock remained available for issuance under this ATM equity program.

There were no shares issued under the ATM equity program during the three months endedSeptember 30, 2017 or 2016, or during the nine months endedSeptember 30, 2017. The following table presents the shares that were issued under the ATM equity program during the nine months endedSeptember 30, 2016:

	Nine months ended September 30,
(dollar amounts are in thousands, except price per share data)	2017		2016
Shares issued (1)	—		182,787
Weighted average price per share	$	—	$	68.85
Gross proceeds	$	—	$	12,584
Commissions	$	—	$	157
Issuance costs (2)	$	349	$	80
(1)  Reflects shares traded in December and settled in January.
(2) Includes legal and accounting costs associated with maintaining the ATM program.

Forward Equity Offering

In March 2016, the Parent Company entered into a forward sale agreement (the "Forward Equity Offering") to issue 3.10 million shares of its common stock at an offering price of $75.25 per share before any underwriting discount and offering expenses.

In June 2016, the Parent Company partially settled its forward equity offering by delivering 1.85 million shares of newly issued common stock thereby receiving $137.5 million of net proceeds which were used to repay the Line. The remaining 1.25 million shares must be settled under the forward sale agreement prior to December 27, 2017.

Equity One merger

On March 1, 2017, Regency completed its merger with Equity One, whereby Equity One merged with and into Regency, with Regency continuing as the surviving public company. Under the terms of the merger Agreement, each Equity One stockholder received 0.45 of a newly issued share of Regency common stock for each share of Equity One common stock that they owned immediately prior to the effective time of the Merger resulting in approximately 65.5 million shares being issued to effect the merger.

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.

In April 2017, the Operating Partnership issued 195,732 limited partner units, valued at $13.1 million, as partial purchase price consideration for the acquisition of land to be developed.

Accumulated Other Comprehensive Loss ("AOCI")

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, 2015	$	(58,650	)	(43	)	(58,693	)	(785	)	—	(785	)	(59,478	)
Other comprehensive income before reclassifications	(25,015		)	89		(24,926	)	(322	)	—	(322	)	(25,248	)
Amounts reclassified from accumulated other comprehensive income	47,880			—		47,880		183		—	183		48,063
Current period other comprehensive income, net	22,865			89		22,954		(139	)	—	(139	)	22,815
Balance as of September 30, 2016	$	(35,785	)	46		(35,739	)	(924	)	—	(924	)	(36,663	)
	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, 2016	$	(18,327	)	(19	)	(18,346	)	(301	)	—	(301	)	(18,647	)
Other comprehensive income before reclassifications	(3,768		)	51		(3,717	)	(143	)	—	(143	)	(3,860	)
Amounts reclassified from accumulated other comprehensive income	7,922			—		7,922		132		—	132		8,054
Current period other comprehensive income, net	4,154			51		4,205		(11	)	—	(11	)	4,194
Balance as of September 30, 2017	$	(14,173	)	32		(14,141	)	(312	)	—	(312	)	(14,453	)

The following represents amounts reclassified out of AOCI into income:

AOCI Component	Amount Reclassified from AOCI into income						Affected Line Item(s) Where Net Income is Presented
	Three months ended September 30,			Nine months ended September 30,
(in thousands)	2017		2016	2017		2016
Interest rate swaps	$	2,329	43,111	$	8,054	48,063	Interest expense and Loss on derivative instruments