Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Summary of Stockholders' Equity Capital Accounts

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

	September 30, 2020	December 31, 2019
Preferred Stock:
Authorized shares	50,000,000	50,000,000
Issued shares	—	—
Outstanding shares	—	—
Common Stock, $1.00 par value:
Authorized shares	700,000,000	700,000,000
Issued shares	418,877,323	411,550,857
Outstanding shares	417,305,044	410,256,615

 The following is a summary of our preferred stock activity during the periods indicated: 

	Nine Months Ended
	September 30, 2020		September 30, 2019
		Weighted Avg.		Weighted Avg.
	Shares	Dividend Rate	Shares	Dividend Rate
Beginning balance	—	—%	14,369,965	6.50%
Shares converted	—	—%	(14,369,965)	6.50%
Ending balance	—	—%	—	—%

The following is a summary of our common stock issuances during the nine months ended September 30, 2020 and 2019 (dollars in thousands, except shares and average price amounts): 

	Shares Issued	Average Price		Gross Proceeds		Net Proceeds
2019 Dividend reinvestment plan issuances	4,438,787	$	75.59	$	335,535	$	332,054
2019 Option exercises	10,736	51.32		551		551
2019 Equity shelf program issuances	4,729,045	75.24		355,803		353,500
2019 Preferred stock conversions	12,712,452			—		—
2019 Stock incentive plans, net of forfeitures	192,237			—		—
2019 Totals	22,083,257			$	691,889	$	686,105
2020 Dividend reinvestment plan issuances	264,153	$	72.33	$	19,105	$	19,105
2020 Option exercises	251	47.81		12		12
2020 Equity shelf program issuances	6,799,978	86.48		588,072		576,196
2020 Stock incentive plans, net of forfeitures	185,994			—		—
2020 Totals	7,250,376			$	607,189	$	595,313

Summary of Dividend Payments

The following is a summary of our dividend payments (in thousands, except per share amounts): 

	Nine Months Ended
	September 30, 2020				September 30, 2019
	Per Share		Amount		Per Share		Amount
Common stock	$	2.09	$	865,357	$	2.61	$	1,051,687

Summary of Accumulated Other Comprehensive Income (Loss)

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

	September 30, 2020		December 31, 2019
Foreign currency translation	$	(820,555)	$	(719,814)
Derivative and financial instruments designated as hedges	694,086		607,657
Total accumulated other comprehensive income (loss)	$	(126,469)	$	(112,157)