CAPITAL STOCK (Tables)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Schedule of Stock by Class

The following table provides a summary of the Company’s common shares authorized, and issued and outstanding at December 31, 2022 and 2021.

	Shares authorized		Shares issued and outstanding
	December 31, 2022	December 31, 2021	December 31, 2022	December 31, 2021	Par Value
Common stock	2,936,500,000	2,936,500,000	468,309,810	364,934,065	$0.01

The following is a summary of the Company’s cumulative redeemable preferred stock outstanding at December 31, 2022 and 2021. In the event of a liquidation or dissolution of the Company, the Company’s then outstanding preferred stock takes precedence over the Company’s common stock with respect to payment of dividends and the distribution of assets.

	Shares Authorized		Shares Issued And Outstanding		Carrying Value				Contractual Rate	Earliest Redemption Date (1)	Date At Which Dividend Rate Becomes Floating	Floating Annual Rate
	December 31, 2022	December 31, 2021	December 31, 2022	December 31, 2021	December 31, 2022		December 31, 2021
Fixed-to-floating rate
Series F	28,800,000	28,800,000	28,800,000	28,800,000	696,910		696,910		6.95%	9/30/2022	9/30/2022	3M LIBOR + 4.993%
Series G	17,000,000	17,000,000	17,000,000	17,000,000	411,335		411,335		6.50%	3/31/2023	3/31/2023	3M LIBOR + 4.172%
Series I	17,700,000	17,700,000	17,700,000	17,700,000	428,324		428,324		6.75%	6/30/2024	6/30/2024	3M LIBOR + 4.989%
Total	63,500,000	63,500,000	63,500,000	63,500,000	$	1,536,569	$	1,536,569
(1) Subject to the Company’s right under limited circumstances to redeem preferred stock earlier in order to preserve its qualification as a REIT or under limited circumstances related to a change in control of the Company.

Summary of Dividend Distribution Activity

The following table provides a summary of the Company’s dividend distribution activity for the periods presented:

	For the Years Ended
	December 31, 2022		December 31, 2021
	(dollars in thousands, except per share data)
Dividends and dividend equivalents declared on common stock and share-based awards	$	1,504,353	$	1,268,558
Distributions declared per common share (1)	$	3.52	$	3.52
Distributions paid to common stockholders after period end	$	412,113	$	321,142
Distributions paid per common share after period end	$	0.88	$	0.88
Date of distributions paid to common stockholders after period end	January 31, 2023		January 31, 2022
Dividends declared to series F preferred stockholders	$	53,131	$	50,040
Dividends declared per share of series F preferred stock (2)	$	1.845	$	1.738
Dividends declared to series G preferred stockholders	$	27,624	$	27,624
Dividends declared per share of series G preferred stock (2)	$	1.625	$	1.625
Dividends declared to series I preferred stockholders	$	29,868	$	29,868
Dividends declared per share of series I preferred stock (2)	$	1.688	$	1.688
(1) For the year ended December 31, 2022, 86.5% and 13.5% of common stock dividend distributions of $3.52 per share was taxable as ordinary income and a return of capital, respectively. For the year ended December 31, 2021, 100% of common stock dividend distributions of $3.49 per share were taxable as a return of capital. (2) For the year ended December 31, 2022, 100% of the preferred stock dividend distributions per share were taxable as ordinary income. For the year ended December 31, 2021, 100% of the preferred stock dividend distributions per share were taxable as a return of capital.