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Other Equity Matters (Table)
 6 Months Ended
Jun. 30, 2020
Equity [Abstract]  
Preferred Stock
The following table summarizes the Company's preferred share issuances (the "Series"):
Preferred Share Offering
 
Issuance
 
Liquidation Preference (in thousands)
 
# of Shares(1)
Series A 8.50% Cumulative Redeemable Perpetual Preference Shares ("Series A")
 
March 2019
 
$
86,250

 
3,450,000

Series B 8.00% Cumulative Redeemable Perpetual Preference Shares ("Series B")
 
June 2019
 
143,750

 
5,750,000

Series C 7.375% Cumulative Redeemable Perpetual Preference Shares ("Series C")
 
November 2019
 
175,000

 
7,000,000

Series D 6.875% Cumulative Redeemable Perpetual Preference Shares ("Series D")
 
January 2020
 
150,000

 
6,000,000

 
 
 
 
$
555,000

 
22,200,000

(1)
Represents number of shares authorized, issued, and outstanding.
Dividends
The Company paid the following quarterly dividends during the six months ended June 30, 2020 and 2019 on its issued and outstanding common shares:
Record Date
Payment Date
 
Aggregate Payment
 
Per Share Payment
June 11, 2020
June 25, 2020
 
$35.8 Million
 
$0.52
March 13, 2020
March 27, 2020
 
$37.1 Million
 
$0.52
June 6, 2019
June 27, 2019
 
$38.6 Million
 
$0.52
March 12, 2019
March 28, 2019
 
$40.4 Million
 
$0.52
Schedule of accumulated other comprehensive (loss)
The following table summarizes the components of accumulated other comprehensive income (loss), net of tax, for the six months ended June 30, 2020 and 2019 (in thousands):
 
Cash Flow
Hedges
 
Foreign
Currency
Translation
 
Accumulated Other Comprehensive (Loss) Income
Balance as of December 31, 2019
$
(27,096
)
 
$
(4,537
)
 
$
(31,633
)
Change in derivative instruments designated as cash flow hedges(1)
(120,140
)
 
—

 
(120,140
)
Reclassification of (gain) loss on derivative instruments designated as cash flow hedges(1)
1,411

 
—

 
1,411

Foreign currency translation adjustment
—

 
(262
)
 
(262
)
Balance as of March 31, 2020
$
(145,825
)
 
$
(4,799
)
 
$
(150,624
)
Change in derivative instruments designated as cash flow hedges(1)
(16,112
)
 
—

 
(16,112
)
Reclassification of (gain) loss on derivative instruments designated as cash flow hedges(1)
5,854

 
—

 
5,854

Foreign currency translation adjustment
—

 
(115
)
 
(115
)
Balance as of June 30, 2020
$
(156,083
)
 
$
(4,914
)
 
$
(160,997
)
 
Cash Flow
Hedges
 
Foreign
Currency
Translation
 
Accumulated Other Comprehensive (Loss) Income
Balance as of December 31, 2018
$
19,043

 
$
(4,480
)
 
$
14,563

Change in derivative instruments designated as cash flow hedges(1)
(14,323
)
 
—

 
(14,323
)
Reclassification of (gain) loss on derivative instruments designated as cash flow hedges(1)
(1,749
)
 
—

 
(1,749
)
Cumulative effect for the adoption of ASU 2017-12, net of income tax effect
432

 
—

 
432

Foreign currency translation adjustment
—

 
43

 
43

Balance as of March 31, 2019
$
3,403

 
$
(4,437
)
 
$
(1,034
)
Change in derivative instruments designated as cash flow hedges(1)
(31,517
)
 
—

 
(31,517
)
Reclassification of (gain) loss on derivative instruments designated as cash flow hedges(1)
(1,716
)
 
—

 
(1,716
)
Foreign currency translation adjustment
—

 
(175
)
 
(175
)
Balance as of June 30, 2019
$
(29,830
)
 
$
(4,612
)
 
$
(34,442
)

(1)
Refer to Note 8 - "Derivative Instruments" for reclassification impact on the Consolidated Statement of Operations