XML 57 R18.htm IDEA: XBRL DOCUMENT

Stockholders' Equity

3 Months Ended

Mar. 31, 2012

13. Stockholders' Equity

The following is a summary of our stockholder's equity capital accounts as of the dates indicated:

	March 31, 2012	December 31, 2011
Preferred Stock:
Authorized shares	50,000,000	50,000,000
Issued shares	37,224,854	25,724,854
Outstanding shares	37,224,854	25,724,854

Common Stock, $1.00 par value:
Authorized shares	400,000,000	400,000,000
Issued shares	214,078,223	192,604,918
Outstanding shares	213,682,073	192,275,248

Preferred Stock. During the three months ended March 31, 2012, we issued 11,500,000 shares of 6.50% Series J Cumulative Redeemable Preferred Stock. These shares have a liquidation value of $25.00 per share. Dividends are payable quarterly in arrears. Please see Note 19 regarding preferred stock activity that occurred subsequent to March 31, 2012. During the three months ended March 31, 2011, we issued 14,375,000 shares of 6.50% Series I Cumulative Convertible Perpetual Preferred Stock. These shares have a liquidation value of $50.00 per share. Dividends are payable quarterly in arrears. The Series I preferred stock is not redeemable by us. These preferred shares are convertible, at the holder's option, into 0.8460 shares of common stock (equal to an initial conversion price of approximately $59.10).

Common Stock. The following is a summary of our common stock issuances during the three months ended March 31, 2012 and 2011 (dollars in thousands, except per share amounts):

	Shares Issued		Average Price		Gross Proceeds		Net Proceeds

March 2011 public issuance	28,750,000	$	49.25	$	1,415,938	$	1,358,694
2011 Dividend reinvestment plan issuances	574,652		48.42		27,822		27,822
2011 Option exercises	37,922		42.24		1,602		1,602
2011 Totals	29,362,574			$	1,445,362	$	1,388,118

Febraury 2012 public issuance	20,700,000	$	53.50	$	1,107,450	$	1,062,737
2012 Dividend reinvestment plan issuances	429,058		54.61		23,429		23,429
2012 Option exercises	43,047		37.42		1,611		1,611
2012 Totals	21,172,105			$	1,132,490	$	1,087,777

Comprehensive Income

The following is a summary of accumulated other comprehensive income (loss) as of the dates indicated (in thousands):

		March 31, 2012		December 31, 2011
Unrecognized losses on cash flow hedges	$	(8,283)	$	(8,561)
Unrecognized losses on equity investments		(612)		(619)
Unrecognized actuarial losses		(2,747)		(2,748)
Totals	$	(11,642)	$	(11,928)

The following is a summary of comprehensive income (loss) for the periods indicated (in thousands):

		Three Months Ended
		March 31,
		2012		2011
Unrecognized gains on cash flow hedges		$	278	$	482
Unrecognized gains on equity investments			8		322
	Total other comprehensive income (loss)		286		804
Net income attributable to controlling interests			58,514		32,052
	Comprehensive income (loss) attributable to controlling interests		58,800		32,856
Net and comprehensive income (loss) attributable to noncontrolling interests⁽¹⁾			(1,056)		(242)
	Total comprehensive income (loss) attributable to common stockholders	$	57,744	$	32,614


(1) Includes amounts attributable to redeemable noncontrolling interests.

- Definition

Disclosures related to accounts comprising shareholders' equity, including other comprehensive income. Includes: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables; effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

+ References+ Details