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Equity
 6 Months Ended
Jun. 30, 2020
Stockholders' Equity Note [Abstract]  
Equity Equity
Transactions
        
Six Months Ended June 30, 2020

During the six months ended June 30, 2020, (i) we acquired 5 thousand OP Units in exchange for issuing an equal number of shares of our common stock to the holders of the OP Units, and (ii) we acquired 150 OP Units for $7 thousand in cash.

Six Months Ended June 30, 2019

During the six months ended June 30, 2019, (i) we acquired 75 thousand OP Units in exchange for issuing an equal number of shares of our common stock to the holders of the OP Units, and (ii) we acquired 13 thousand OP Units for $507 thousand in cash, and (iii) we issued 4.9 million shares of our common stock under our ATM program for net proceeds of $201.2 million.

We also purchased a property on June 7, 2019 for a contract price of $365.1 million, which we subsequently contributed to one of our consolidated JVs on June 28, 2019. We manage and own a twenty percent capital interest in the JV. To partially fund the acquisition of the property, we closed a secured, non-recourse $160.0 million interest-only loan scheduled to mature in June 2029, and the loan was assumed by the consolidated JV to which we contributed the property. Noncontrolling interests in the JV contributed $176.0 million to the JV for the acquisition of the property. See Note 3 for more information regarding the property acquisition and Note 8 for more information regarding the loan.

Noncontrolling Interests

Our noncontrolling interests consist of interests in our Operating Partnership and consolidated JVs which are not owned by us. Noncontrolling interests in our Operating Partnership owned 29.1 million OP Units and fully-vested LTIP Units, and represented approximately 14% of our Operating Partnership's total outstanding interests as of June 30, 2020 when we owned 175.4 millions OP Units (to match our 175.4 million shares of outstanding common stock).

A share of our common stock, an OP Unit and an LTIP Unit (once vested and booked up) have essentially the same economic characteristics, sharing equally in the distributions from our Operating Partnership.  Investors who own OP Units have the right to cause our Operating Partnership to acquire their OP Units for an amount of cash per unit equal to the market value of one share of our common stock at the date of acquisition, or, at our election, exchange their OP Units for shares of our common stock on a one-for-one basis. LTIP Units have been granted to our employees and non-employee directors as part of their compensation. These awards generally vest over a service period and once vested can generally be converted to OP Units provided our stock price increases by more than a specified hurdle.
Changes in our Ownership Interest in our Operating Partnership

The table below presents the effect on our equity from net income attributable to common stockholders and changes in our ownership interest in our Operating Partnership:
 Six Months Ended June 30,
(In thousands)20202019
Net income attributable to common stockholders$28,953  $62,667  
Transfers from noncontrolling interests:
Exchange of OP Units with noncontrolling interests90  1,223  
Repurchase of OP Units from noncontrolling interests(4) (291) 
Net transfers from noncontrolling interests86  932  
Change from net income attributable to common stockholders and transfers from noncontrolling interests$29,039  $63,599  


AOCI Reconciliation(1)

The table below presents a reconciliation of our AOCI, which consists solely of adjustments related to derivatives designated as cash flow hedges:
Six Months Ended June 30,
(In thousands)20202019
Beginning balance$(17,462) $53,944  
Consolidated derivatives:
Other comprehensive loss before reclassifications(241,189) (89,483) 
Reclassification of loss (gain) from AOCI to Interest Expense13,373  (17,284) 
Unconsolidated Funds' derivatives (our share)(2):
Other comprehensive loss before reclassifications(403) (6,928) 
Reclassification of gain from AOCI to Income (loss) from unconsolidated Funds(35) (1,226) 
Net current period OCI(228,254) (114,921) 
OCI attributable to noncontrolling interests66,245  35,124  
OCI attributable to common stockholders(162,009) (79,797) 
Ending balance$(179,471) $(25,853) 
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(1)See Note 10 for the details of our derivatives and Note 13 for our derivative fair value disclosures.
(2)We calculate our share by multiplying the total amount for each Fund by our equity interest in the respective Fund.
Equity Compensation

On June 2, 2016, the Douglas Emmett 2016 Omnibus Stock Incentive Plan, as amended (the "2016 Plan"), became effective after receiving stockholder approval, superseding our prior plan, the Douglas Emmett 2006 Omnibus Stock Incentive Plan (the "2006 Plan"), both of which allow for awards to our directors, officers, employees and consultants. The key terms of the two plans are substantially identical, except for the date of expiration, the number of shares authorized for grants and various technical provisions. Grants after June 2, 2016 were awarded under the 2016 Plan, while grants prior to that date were awarded under the 2006 Plan (grants under the 2006 Plan remain outstanding according to their terms). Both plans are administered by the compensation committee of our board of directors. On May 28, 2020, our stockholders approved an amendment to the 2016 Plan to, among other things, increase the number of common shares for future awards by 9.5 million. The table below presents our stock-based compensation expense:

Three Months Ended June 30,Six Months Ended June 30,
(In thousands)2020201920202019
Stock-based compensation expense, net$2,812  $2,383  $5,753  $5,013  
Capitalized stock-based compensation$751  $338  $1,610  $1,008