Issuances of Common Stock (Tables)

6 Months Ended

Jun. 30, 2023

ATM Program

Class of Stock [Line Items]

Schedule of common stock issuances

The following table outlines common stock issuances pursuant to our ATM programs (dollars in millions):

	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022
Shares of common stock issued under the ATM program(1)	35,475,153		15,899,972		48,139,631		25,973,181
Gross proceeds	$	2,195.7	$	1,067.3	$	2,997.4	$	1,727.5
Sales agents' commissions and other offering expenses	(15.2)		(10.7)		(20.7)		(14.8)
Net proceeds	$	2,180.5	$	1,056.6	$	2,976.7	$	1,712.7

(1) During the three and six months ended June 30, 2023, 20.7 million and 46.3 million shares were sold, respectively, and 35.5 million and 48.1 million shares were settled pursuant to forward sale confirmations, respectively. In addition, as of June 30, 2023, 4.9 million shares of common stock subject to forward sale confirmations have been executed, but not settled, at a weighted average initial price of $59.33 per share. We currently expect to fully settle forward sale agreements outstanding by September 30, 2023, representing $287.0 million in net proceeds, for which the weighted average forward price at June 30, 2023 was $58.72 per share.

DRSPP

Class of Stock [Line Items]

Schedule of common stock issuances

The following table outlines common stock issuances pursuant to our DRSPP program (dollars in millions):

	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022
Shares of common stock issued under the DRSPP program	44,118		43,260		85,781		84,631
Gross proceeds	$	2.7	$	2.9	$	5.4	$	5.7