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Stockholder's Equity
 12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Stockholders' Equity Stockholders’ Equity 
The following is a summary of our stockholders’ equity capital accounts as of the dates indicated:
December 31, 2022December 31, 2021
Preferred Stock, $1.00 par value:
Authorized shares50,000,000 50,000,000
Issued shares— — 
Outstanding shares— — 
Common Stock, $1.00 par value:
Authorized shares700,000,000 700,000,000 
Issued shares492,283,488 448,998,438 
Outstanding shares490,508,937 447,239,477 
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. During the year ended December 31, 2022, we physically settled all of our outstanding forward sale agreements for cash proceeds of $3,667,691,000. As of December 31, 2022, we had $1,150,203,000 of remaining capacity under the ATM Program.
On May 1, 2020, our Board of Directors authorized a share repurchase program whereby we may repurchase up to $1 billion of common stock through December 31, 2021. On November 7, 2022, our Board of Directors approved a follow on share repurchase program for up to $3 billion of common stock (the "Stock Repurchase Program"). Under the Stock Repurchase Program, we are not required to purchase shares but may choose to do so in the open market or through privately-negotiated transactions, through block trades, by effecting a tender offer, by way of an accelerated share repurchase program, through the purchase of call options or the sale of put options, or otherwise, or by any combination of the foregoing. We expect to finance any share repurchases using available cash and may use proceeds from borrowings or debt offerings. The Stock Repurchase Program has no expiration date and does not obligate us to repurchase any specific number of shares. During the year ended December 31, 2020, we repurchased 201,947 shares at an average price of $37.89 per share. We did not repurchase any shares of our common stock during the years ended December 31, 2021 or December 31, 2022.
The following is a summary of our common stock issuances during the periods indicated (dollars in thousands, except shares and average price amounts):
Shares IssuedAverage PriceGross ProceedsNet Proceeds
2020 Dividend reinvestment plan issuances264,153 $72.33 $19,105 $19,105 
2020 Option exercises251 47.81 12 12 
2020 ATM Program issuances6,799,978 86.48 588,072 576,196 
2020 Stock incentive plans, net of forfeitures281,552 — — 
2020 Totals7,345,934 $607,189 $595,313 
2021 Option exercises338 $56.21 $19 $19 
2021 ATM Program issuances29,667,348 80.41 2,385,683 2,348,182 
2021 Stock incentive plans, net of forfeitures171,189 — — 
2021 Totals29,838,875 $2,385,702 $2,348,201 
2022 Option exercises2,433$67.00 $163 $163 
2022 ATM Program issuances43,092,88886.233,715,971 3,667,691 
2022 Redemption of OP Units and DownREIT Units5,498— — 
2022 Stock incentive plans, net of forfeitures168,641— — 
2022 Totals43,269,460 $3,716,134 $3,667,854 
Dividends 
During the year ended December 31, 2020, we declared a reduced cash dividend beginning with the quarter ended March 31, 2020. Please refer to Note 19 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, 2022December 31, 2021December 31, 2020
  Per ShareAmountPer ShareAmountPer ShareAmount
Common stock$2.44 $1,133,182 $2.44 $1,037,194 $2.70 $1,120,187 
Accumulated Other Comprehensive Income
The following is a summary of accumulated other comprehensive income/(loss) for the periods presented (in thousands):
 December 31, 2022December 31, 2021
Foreign currency translation$(1,115,317)$(674,306)
Derivative and financial instruments designated as hedges995,610 552,990 
Total accumulated other comprehensive income (loss)$(119,707)$(121,316)