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Stockholders' Equity
 12 Months Ended
Dec. 31, 2013
Stockholders' Equity [Abstract]  
Stockholders' Equity

13. Stockholders’ Equity

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

December 31, 2013December 31, 2012
Preferred Stock, $1.00 par value:
Authorized shares 50,000,000 50,000,000
Issued shares 26,108,236 26,224,854
Outstanding shares 26,108,236 26,224,854
Common Stock, $1.00 par value:
Authorized shares 400,000,000 400,000,000
Issued shares 290,024,789 260,780,109
Outstanding shares 289,563,651 260,373,754

Preferred Stock. The following is a summary of our preferred stock activity during the periods presented (dollars in thousands, except per share amounts):

Year Ended
December 31, 2013December 31, 2012December 31, 2011
Weighted Avg.Weighted Avg.Weighted Avg.
SharesDividend RateSharesDividend RateSharesDividend Rate
Beginning balance 26,224,8546.493% 25,724,8547.013% 11,349,8547.663%
Shares issued -0.000% 11,500,0006.500% 14,375,0006.500%
Shares redeemed -0.000% (11,000,000)7.716% -0.000%
Shares converted (116,618)6.000% -0.000% -0.000%
Ending balance 26,108,2366.496% 26,224,8546.493% 25,724,8547.013%

     During the three months ended December 31, 2010, we issued 349,854 shares of 6.00% Series H Cumulative Convertible and Redeemable Preferred Stock in connection with a business combination. These shares have a liquidation value of $25.00 per share. Dividends are payable quarterly in arrears. The preferred stock, which has no stated maturity, may be redeemed by us at a redemption price of $25.00 per share, plus accrued and unpaid dividends on such shares to the redemption date, on or after December 31, 2015. During the twelve months ended December 31, 2013, 116,618 shares were converted into common stock.

     During the three months ended March 31, 2011, we issued 14,375,000 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 preferred stock is not redeemable by us. The 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).

     During the three months ended March 31, 2012, we issued 11,500,000 of 6.50% Series J Cumulative Redeemable Preferred Stock. Dividends are payable quarterly in arrears. The preferred stock, which has no stated maturity, may be redeemed by us at a redemption price of $25.00 per share, plus accrued and unpaid dividends on such shares to the redemption date, on or after March 7, 2017.

     Common Stock. The following is a summary of our common stock issuances during the periods indicated (dollars in thousands, except per share amounts):

Shares IssuedAverage PriceGross ProceedsNet Proceeds
March 2011 public issuance 28,750,000$ 49.25$ 1,415,938$ 1,358,543
November 2011 public issuance 12,650,000 50.00 632,500 606,595
2011 Dividend reinvestment plan issuances 2,534,707 48.44 122,794 121,846
2011 Equity shelf program issuances 848,620 50.53 42,888 41,982
2011 Option exercises 232,081 37.17 8,628 8,628
2011 Totals 45,015,408$ 2,222,748$ 2,137,594
February 2012 public issuance 20,700,000$ 53.50$ 1,107,450$ 1,062,256
August 2012 public issuance 13,800,000 58.75 810,750 778,011
September 2012 public issuance 29,900,000 56.00 1,674,400 1,606,665
2012 Dividend reinvestment plan issuances 2,136,140 56.37 120,411 120,411
2012 Option exercises 341,371 40.86 13,949 13,949
2012 Senior note conversions 1,039,721 0 0
2012 Totals 67,917,232$ 3,726,960$ 3,581,292
May 2013 public issuance 23,000,000$ 73.50$ 1,690,500$ 1,630,281
2013 Dividend reinvestment plan issuances 3,429,928 62.78 215,346 215,346
2013 Option exercises 213,724 42.16 9,010 9,010
2013 Senior note conversions 988,007 0 0
2013 Preferred stock conversions 116,618 0 0
2013 Equity issued in acquisition of noncontrolling interest 1,108,917 0 0
2013 Totals 28,857,194$ 1,914,856$ 1,854,637

During the twelve months ended December 31, 2013, we acquired the remaining 20% noncontrolling interest in an existing partnership for $91,000,000 which consisted of $23,247,000 of cash and 1,108,917 shares of common stock. In connection with the acquisition, we incurred $2,732,000 of transaction costs, which we have included as a reduction to additional paid in capital

     Dividends. The increase in dividends is primarily attributable to increases in our common and preferred shares outstanding as described above. Please refer to Notes 2 and 18 for information related to federal income tax of dividends. The following is a summary of our dividend payments (in thousands, except per share amounts):

Year Ended
December 31, 2013December 31, 2012December 31, 2011
Per ShareAmountPer ShareAmountPer ShareAmount
Common Stock$ 3.06000$ 839,939$ 2.96000$ 653,321$ 2.83500$ 483,746
Series D Preferred Stock - 0 0.50301 2,012 1.96875 7,875
Series F Preferred Stock - 0 0.48715 3,410 1.90625 13,344
Series H Preferred Stock 2.85840 930 2.85840 1,000 2.85840 1,000
Series I Preferred Stock 3.25000 46,719 3.25000 46,719 1.33159 38,283
Series J Preferred Stock 1.62510 18,687 1.39038 15,988 - 0
Totals$ 906,275$ 722,450$ 544,248

Accumulated Other Comprehensive Income. The following is a summary of accumulated other comprehensive income/(loss) for the periods presented (in thousands):

Unrecognized gains (losses) related to:
Foreign Currency TranslationEquity InvestmentsActuarial lossesCash Flow HedgesTotal
Balance at December 31, 2012$ (881)$ (216)$ (2,974)$ (6,957)$ (11,028)
Other comprehensive income before reclassification adjustments (16,750) (173) 1,522 (16) (15,417)
Reclassification amount to net income 0 0 0 1,914(1) 1,914
Net current-period other comprehensive income (16,750) (173) 1,522 1,898 (13,503)
Balance at December 31, 2013$ (17,631)$ (389)$ (1,452)$ (5,059)$ (24,531)
Balance at December 31, 2011$ 0$ (619)$ (2,748)$ (8,561)$ (11,928)
Other comprehensive income before reclassification adjustments (881) 403 (226) 2,808 2,104
Reclassification amount to net income 0 0 0 (1,204)(1) (1,204)
Net current-period other comprehensive income (881) 403 (226) 1,604 900
Balance at December 31, 2012$ (881)$ (216)$ (2,974)$ (6,957)$ (11,028)
(1) Please see Note 11 for additional information.

     Other Equity. Other equity consists of accumulated option compensation expense, which represents the amount of amortized compensation costs related to stock options awarded to employees and directors. Expense, which is recognized as the options vest based on the market value at the date of the award, totaled $1,114,000, $2,875,000 and $1,917,000 for the years ended December 31, 2013, 2012 and 2011, respectively.