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Stockholder's Equity
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Stockholders' Equity Stockholders' Equity 
The following is a summary of our stockholders' equity capital accounts as of the dates indicated:
December 31, 2024December 31, 2023
Preferred Stock, $1.00 par value:
Authorized shares50,000,000 50,000,000
Issued shares— — 
Outstanding shares— — 
Common Stock, $1.00 par value:
Authorized shares1,400,000,000 700,000,000 
Issued shares637,056,054 566,001,632 
Outstanding shares635,289,329 564,241,181 
Common Stock
In October 2024, we entered into an equity distribution agreement whereby we can offer and sell up to $5,000,000,000 aggregate amount of our common stock, which replaced our prior equity distribution agreement dated April 30, 2024 allowing us to sell up to $3,500,000,000 aggregate amount of our common stock (collectively, along with other previous agreements, referred to as the "ATM Program"). The ATM Program allows us to enter into forward sale agreements (none outstanding at December 31, 2024). As of December 31, 2024, we had $3,362,038,000 of remaining capacity under the ATM Program. Subsequent to December 31, 2024, we sold 5,408,311 shares of common stock under the ATM Program.
On November 7, 2022, our Board of Directors approved a share repurchase program for up to $3,000,000,000 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 through the Stock Repurchase Program during the years ended December 31, 2024, 2023 and 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
2022 Option exercises2,433 $67.00 $163 $163 
2022 ATM Program issuances43,092,888 86.23 3,715,971 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 
2023 Option exercises
3,541 $78.23 $277 $277 
2023 ATM Program issuances
53,300,874 80.92 4,313,007 4,290,766 
2023 Equity issuance
20,125,000 88.061,772,216 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 
2024 Option exercises
17,809$71.59 $1,275 $1,275 
2024 ATM Program issuances
70,419,530105.827,452,108 7,414,503 
2024 Redemption of OP Units and DownREIT Units
494,941— — 
2024 Stock incentive plans, net of forfeitures
114,579— — 
2024 Totals
71,046,859 $7,453,383 $7,415,778 
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, 2024December 31, 2023December 31, 2022
Per ShareAmountPer ShareAmountPer ShareAmount
Common stock$2.56 $1,546,291 $2.44 $1,259,676 $2.44 $1,133,182 
Accumulated Other Comprehensive Income
The following is a summary of accumulated other comprehensive income/(loss) as of the periods presented (in thousands):
 December 31, 2024December 31, 2023
Foreign currency translation$(1,276,625)$(913,675)
Derivative and financial instruments designated as hedges916,844 750,515 
Total accumulated other comprehensive income (loss)$(359,781)$(163,160)