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Stockholder's Equity
 12 Months Ended
Dec. 31, 2023
Equity [Abstract]  
Stockholders' Equity Stockholders’ Equity 
The following is a summary of our stockholders’ equity capital accounts as of the dates indicated:
December 31, 2023December 31, 2022
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 shares566,001,632 492,283,488 
Outstanding shares564,241,181 490,508,937 
Common Stock
In August 2023, we entered into an equity distribution agreement whereby we can offer and sell up to $4,000,000,000 aggregate amount of our common stock ("ATM Program", as amended from time to time). The ATM Program also allows us to enter into forward sale agreements (none outstanding at December 31, 2023). As of December 31, 2023, we had $1,854,611,000 of remaining capacity under the ATM Program. Subsequent to December 31, 2023, we sold 5,046,308 shares of common stock under the ATM Program.
In November 2023, we issued 20,125,000 shares of common stock. The shares were sold pursuant to an underwriting agreement, dated as of November 6, 2023.
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. We did not repurchase any shares of our common stock during the years ended December 31, 2023, 2022, and 2021.
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
2021 Option exercises
338 $56.21 $19 $19 
2021 ATM Program issuances
29,667,348 80.41 2,385,683 2,348,182 
2021 Stock incentive plans, net of forfeitures
171,189 — — 
2021 Totals
29,838,875 $2,385,702 $2,348,201 
2022 Option exercises
2,433 $67.00 $163 $163 
2022 ATM Program issuances
43,092,888 86.23 3,715,971 3,667,691 
2022 Redemption of OP Units and DownREIT Units
5,498 — — 
2022 Stock incentive plans, net of forfeitures
168,641 — — 
2022 Totals
43,269,460 $3,716,134 $3,667,854 
2023 Option exercises
3,541$78.23 $277 $277 
2023 ATM Program issuances
53,300,87480.924,313,007 4,290,766 
2023 Equity issuance20,125,00088.061,772,216 1,719,086 
2023 Redemption of OP Units and DownREIT Units
335,562— — 
2023 Stock incentive plans, net of forfeitures
(32,733)— — 
2023 Totals
73,732,244 $6,085,500 $6,010,129 
Dividends 
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, 2023December 31, 2022December 31, 2021
  Per ShareAmountPer ShareAmountPer ShareAmount
Common stock$2.44 $1,259,676 $2.44 $1,133,182 $2.44 $1,037,194 
Accumulated Other Comprehensive Income
The following is a summary of accumulated other comprehensive income/(loss) for the periods presented (in thousands):
 December 31, 2023December 31, 2022
Foreign currency translation$(913,675)$(1,115,317)
Derivative and financial instruments designated as hedges750,515 995,610 
Total accumulated other comprehensive income (loss)$(163,160)$(119,707)