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CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
shares in Thousands, $ in Thousands
Total
Common Stock
Additional Paid-In Capital
Cumulative Dividends In Excess Of Earnings
Accumulated Other Comprehensive Income (Loss)
Total Stockholders’ Equity
Noncontrolling Interests
Balance at Dec. 31, 2016 $ 5,941,308 $ 468,081 $ 8,198,890 $ (3,089,734) $ (29,642) $ 5,547,595 $ 393,713
Balance (in shares) at Dec. 31, 2016   468,081          
Increase (Decrease) in Stockholders' Equity              
Net income (loss) 422,634     414,169   414,169 8,465
Other comprehensive income (loss) 5,618       5,618 5,618  
Issuance of common stock, net 27,353 $ 1,402 25,951     27,353 0
Issuance of common stock, net (in shares)   1,402          
Conversion of DownREIT units to common stock 0 $ 78 2,411     2,489 (2,489)
Conversion of DownREIT units to common stock (in shares)   78          
Repurchase of common stock (4,785) $ (157) (4,628)     (4,785)  
Repurchase of common stock (in shares)   (157)          
Exercise of stock options 768 $ 32 736     768  
Exercise of stock options (in shares)   32          
Amortization of deferred compensation 14,258   14,258     14,258  
Common dividends (694,955)     (694,955)   (694,955)  
Distributions to noncontrolling interests (26,129)   0     0 (26,129)
Issuances of noncontrolling interests 1,615           1,615
Deconsolidation of noncontrolling interests (58,062)   0 0   0 (58,062)
Purchase of noncontrolling interests (34,685)   (11,505)     (11,505) (23,180)
Balance at Dec. 31, 2017 5,594,938 $ 469,436 8,226,113 (3,370,520) (24,024) 5,301,005 293,933
Balance (in shares) at Dec. 31, 2017   469,436          
Increase (Decrease) in Stockholders' Equity              
Cumulative effect of new accounting principle [1] 79,144     79,144   79,144  
Adjusted balance, January 1 5,674,082 $ 469,436 8,226,113 (3,291,376) (24,024) 5,380,149 293,933
Net income (loss) 1,073,474     1,061,093   1,061,093 12,381
Other comprehensive income (loss) 19,316       19,316 19,316  
Issuance of common stock, net 215,179 $ 8,078 207,101     215,179  
Issuance of common stock, net (in shares)   8,078          
Conversion of DownREIT units to common stock 0 $ 3 133     136 (136)
Conversion of DownREIT units to common stock (in shares)   3          
Repurchase of common stock (3,432) $ (141) (3,291)     (3,432)  
Repurchase of common stock (in shares)   (141)          
Exercise of stock options 2,477 $ 120 2,357     2,477  
Exercise of stock options (in shares)   120          
Amortization of deferred compensation 16,563   16,563     16,563  
Common dividends (696,913)     (696,913)   (696,913)  
Distributions to noncontrolling interests (18,415)   0       (18,415)
Issuances of noncontrolling interests 299,666           299,666
Purchase of noncontrolling interests (69,406)   (50,129)     (50,129) (19,277)
Balance at Dec. 31, 2018 6,512,591 $ 477,496 8,398,847 (2,927,196) (4,708) 5,944,439 568,152
Balance (in shares) at Dec. 31, 2018   477,496          
Increase (Decrease) in Stockholders' Equity              
Cumulative effect of new accounting principle [2] 590     590   590  
Adjusted balance, January 1 6,513,181 $ 477,496 8,398,847 (2,926,606) (4,708) 5,945,029 568,152
Net income (loss) 60,061     45,530   45,530 14,531
Other comprehensive income (loss) 1,851       1,851 1,851  
Issuance of common stock, net 791,048 $ 27,523 763,525     791,048  
Issuance of common stock, net (in shares)   27,523          
Conversion of DownREIT units to common stock 0 $ 213 4,932     5,145 $ (5,145)
Conversion of DownREIT units to common stock (in shares)   213         7,000
Repurchase of common stock (5,043) $ (162) (4,881)     (5,043)  
Repurchase of common stock (in shares)   (162)          
Exercise of stock options 4,538 $ 152 4,386     4,538  
Exercise of stock options (in shares)   152          
Amortization of deferred compensation 18,162   18,162     18,162  
Common dividends (720,123)     (720,123)   (720,123)  
Distributions to noncontrolling interests (28,301)           $ (28,301)
Issuances of noncontrolling interests 33,318           33,318
Purchase of noncontrolling interests (1,218)   (1,079)     (1,079) (139)
Balance at Dec. 31, 2019 $ 6,667,474 $ 505,222 $ 9,183,892 $ (3,601,199) $ (2,857) $ 6,085,058 $ 582,416
Balance (in shares) at Dec. 31, 2019   505,222          
[1]
On January 1, 2018, the Company adopted Accounting Standards Update (“ASU”) No. 2017-05, Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets (“ASU 2017-05”), and recognized the cumulative-effect of adoption to beginning retained earnings. Refer to Note 2 for a detailed impact of adoption.
[2]
On January 1, 2019, the Company adopted a series of ASUs related to accounting for leases, and recognized the cumulative-effect of adoption to beginning retained earnings. Refer to Note 2 for a detailed impact of adoption.