Stockholders' Equity

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity 

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

	June 30, 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	465,163,874	448,998,438
Outstanding shares	463,369,237	447,239,477

Common Stock In April 2022, we entered into an amended and restated equity distribution agreement whereby we can offer and sell up to $3,000,000,000 aggregate amount of our common stock ("ATM Program"). The ATM Program also allows us to enter into forward sale agreements. As of June 30, 2022, we had $3,000,000,000 of remaining capacity under the ATM Program, which excludes forward sales agreements outstanding for the sale of 12,170,108 shares or approximately $1,091,064,000 with maturity dates in 2023. In addition, we have forward sale agreements for the sale of 5,466,182 shares or approximately $487,172,000 with maturity dates in 2023 under the July 30, 2021 ATM Program.

The following is a summary of our common stock issuances during the six months ended June 30, 2022 and 2021 (dollars in thousands, except shares and average price amounts): 

	Shares Issued	Average Price		Gross Proceeds		Net Proceeds
2021 ATM Program issuances	5,015,673	$	74.15	$	371,937	$	366,464
2021 Stock incentive plans, net of forfeitures	145,588			—		—
2021 Totals	5,161,261			$	371,937	$	366,464
2022 Option exercises	299	$	66.89	$	20	$	20
2022 ATM Program issuances	15,986,251	86.26		1,379,002		1,357,541
2022 Stock incentive plans, net of forfeitures	143,210			—		—
2022 Totals	16,129,760			$	1,379,022	$	1,357,561

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

	Six Months Ended
	June 30, 2022				June 30, 2021
	Per Share		Amount		Per Share		Amount
Common stock	$	1.22	$	551,283	$	1.22	$	510,424

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

	June 30, 2022		December 31, 2021
Foreign currency translation	$	(1,034,207)	$	(674,306)
Derivative and financial instruments designated as hedges	889,011		552,990
Total accumulated other comprehensive income (loss)	$	(145,196)	$	(121,316)