Equity

3 Months Ended

Mar. 31, 2015

Equity

Equity

NOTE 13.  Equity

Common Stock

The following table lists the common stock cash dividends declared by the Company in 2015:

		Amount		Dividend
Declaration Date	Record Date	Per Share		Payable Date
January 29	February 9	$	0.565	February 24
April 30	May 11		0.565	May 26

The following is a summary of the Company’s common stock issuances (shares in thousands):

	Three Months Ended March 31,
	2015	2014
Dividend Reinvestment and Stock Purchase Plan	829	875
Conversion of DownREIT units(1)	38	2
Exercise of stock options	811	4
Vesting of restricted stock units	288	411
Repurchase of common stock	128	208

(1)  Non-managing member LLC units.

Accumulated Other Comprehensive Loss

The following is a summary of the Company’s accumulated other comprehensive loss (in thousands):

	March 31,		December 31,
	2015		2014
Cumulative foreign currency translation adjustment	$	(17,710)	$	(10,747)
Unrealized losses on cash flow hedges, net		(7,291)		(9,624)
Supplemental Executive Retirement Plan minimum liability		(3,468)		(3,537)
Unrealized gains on available for sale securities		8		13
Total accumulated other comprehensive loss	$	(28,461)	$	(23,895)

Noncontrolling Interests

At March 31, 2015, non-managing members held an aggregate of 4 million units in five limited liability companies (“DownREITs”), for which the Company is the managing member. At March 31, 2015, the carrying and fair values of these DownREIT units were $187 million and $261 million, respectively.