Stockholders' Equity

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity 

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

	March 31, 2022	December 31, 2021
Preferred Stock, $1.00 par value:
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	455,763,781	448,998,438
Outstanding shares	453,948,046	447,239,477

Common Stock

In July 2021, we entered into an amended and restated equity distribution agreement whereby we can offer and sell up to $2,500,000,000 aggregate amount of our common stock ("ATM Program"). The ATM Program also allows us to enter into forward sale agreements. As of March 31, 2022, we had $1,317,295,000 of remaining capacity under the ATM Program, which excludes forward sales agreements outstanding for the sale of 14,297,958 shares with maturity dates in 2023, which we expect to physically settle for cash proceeds of $1,253,955,000.

The following is a summary of our common stock issuances during the three months ended March 31, 2022 and 2021 (dollars in thousands, except shares and average price amounts): 

	Shares Issued	Average Price		Gross Proceeds		Net Proceeds
2021 Stock incentive plans, net of forfeitures	119,818			$	—	$	—
2022 ATM Program issuances	6,605,191	$	84.60	$	558,790	$	549,326
2022 Option exercises	299	66.89		20		20
2022 Stock incentive plans, net of forfeitures	103,079			—		—
2022 Totals	6,708,569			$	558,810	$	549,346

Dividends 

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

	Three Months Ended
	March 31, 2022				March 31, 2021
	Per Share		Amount		Per Share		Amount
Common stock	$	0.61	$	273,668	$	0.61	$	254,952

Accumulated Other Comprehensive Income 

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

	March 31, 2022		December 31, 2021
Foreign currency translation	$	(743,402)	$	(674,306)
Derivative and financial instruments designated as hedges	604,930		552,990
Total accumulated other comprehensive income (loss)	$	(138,472)	$	(121,316)