Equity (Tables)

9 Months Ended

Sep. 30, 2021

Stockholders' Equity Note [Abstract]

The following summarizes the changes in equity for the nine months ended September 30, 2021 (dollars in thousands):


	Common stock		Additional paid-in capital		Accumulated earnings less dividends		Accumulated other comprehensive loss		Total stockholder's equity		Noncontrolling interests		Total equity

Balance at December 31, 2020	$	1,395	$	10,664,416	$	126,022	$	(40,250)	$	10,751,583	$	591	$	10,752,174
Net income attributable to common stockholders	—		—		142,223		—		142,223		—		142,223
Cash flow hedge losses reclassified to earnings	—		—		—		2,367		2,367		—		2,367
Change in redemption value of redeemable noncontrolling interest	—		—		(273)		—		(273)		—		(273)
Noncontrolling interest distribution and income allocation	—		—		—		—		—		(16)		(16)
Dividends declared to common stockholders ($1.59 per share)	—		—		(221,779)		—		(221,779)		—		(221,779)
Issuance of common stock, net of withholdings	1		(14,037)		958		—		(13,078)		—		(13,078)
Amortization of deferred compensation	—		7,286		—		—		7,286		—		7,286
Balance at March 31, 2021	$	1,396	$	10,657,665	$	47,151	$	(37,883)	$	10,668,329	$	575	$	10,668,904
Net income attributable to common stockholders	—		—		447,953		—		447,953		—		447,953
Loss on cash flow hedges, net	—		—		—		(822)		(822)		—		(822)
Cash flow hedge losses reclassified to earnings	—		—		—		2,366		2,366		—		2,366
Change in redemption value of redeemable noncontrolling interest	—		—		(255)		—		(255)		—		(255)
Noncontrolling interest distribution and income allocation	—		—		—		—		—		(7)		(7)
Dividends declared to common stockholders ($1.59 per share)	—		—		(222,451)		—		(222,451)		—		(222,451)
Issuance of common stock, net of withholdings	—		2,496		—		—		2,496		—		2,496
Amortization of deferred compensation	—		10,403		—		—		10,403		—		10,403
Balance at June 30, 2021	$	1,396	$	10,670,564	$	272,398	$	(36,339)	$	10,908,019	$	568	$	10,908,587
Net income attributable to common stockholders	—		—		78,914		—		78,914		—		78,914
Gain on cash flow hedges, net	—		—		—		2,010		2,010		—		2,010
Cash flow hedge losses reclassified to earnings	—		—		—		7,405		7,405		—		7,405
Change in redemption value of redeemable noncontrolling interest	—		—		(261)		—		(261)		—		(261)
Noncontrolling interest distribution and income allocation	—		—		—		—		—		2		2
Dividends declared to common stockholders ($1.59 per share)	—		—		(222,475)		—		(222,475)		—		(222,475)
Issuance of common stock, net of withholdings	—		4,633		(27)		—		4,606		—		4,606
Amortization of deferred compensation	—		9,442		—		—		9,442		—		9,442
Balance at September 30, 2021	$	1,396	$	10,684,639	$	128,549	$	(26,924)	$	10,787,660	$	570	$	10,788,230

The following summarizes the changes in equity for the nine months ended September 30, 2020 (dollars in thousands):


	Common stock		Additional paid-in capital		Accumulated earnings less dividends		Accumulated other comprehensive loss		Total stockholder's equity		Noncontrolling interests		Total equity

Balance at December 31, 2019	$	1,406	$	10,736,733	$	282,913	$	(31,503)	$	10,989,549	$	649	$	10,990,198
Net income attributable to common stockholders	—		—		167,971		—		167,971		—		167,971
Loss on cash flow hedges, net	—		—		—		(17,603)		(17,603)		—		(17,603)
Cash flow hedge losses reclassified to earnings	—		—		—		1,949		1,949		—		1,949
Change in redemption value of redeemable noncontrolling interest	—		—		471		—		471		—		471
Noncontrolling interests income allocation	—		—		—		—		—		(35)		(35)
Dividends declared to common stockholders ($1.59 per share)	—		—		(224,083)		—		(224,083)		—		(224,083)
Issuance of common stock, net of withholdings	1		(12,492)		(1,616)		—		(14,107)		—		(14,107)
Amortization of deferred compensation	—		7,781		—		—		7,781		—		7,781
Balance at March 31, 2020	$	1,407	$	10,732,022	$	225,656	$	(47,157)	$	10,911,928	$	614	$	10,912,542
Net income attributable to common stockholders	—		—		170,828		—		170,828		—		170,828
Loss on cash flow hedges, net	—		—		—		(1,461)		(1,461)		—		(1,461)
Cash flow hedge losses reclassified to earnings	—		—		—		2,301		2,301		—		2,301
Change in redemption value of redeemable noncontrolling interest	—		—		(146)		—		(146)		—		(146)
Noncontrolling interests income allocation	—		—		—		—		—		1		1
Dividends declared to common stockholders ($1.59 per share)	—		—		(224,172)		—		(224,172)		—		(224,172)
Issuance of common stock, net of withholdings	—		1,050		138		—		1,188		—		1,188
Amortization of deferred compensation	—		9,724		—		—		9,724		—		9,724
Balance at June 30, 2020	$	1,407	$	10,742,796	$	172,304	$	(46,317)	$	10,870,190	$	615	$	10,870,805
Net income attributable to common stockholders	—		—		147,703		—		147,703		—		147,703
Gain on cash flow hedges, net	—		—		—		1,333		1,333		—		1,333
Cash flow hedge losses reclassified to earnings	—		—		—		2,367		2,367		—		2,367
Change in redemption value of redeemable noncontrolling interest	—		—		62		—		62		—		62
Noncontrolling interest distribution and income allocation	—		—		—		—		—		(17)		(17)
Dividends declared to common stockholders ($1.59 per share)	—		—		(222,694)		—		(222,694)		—		(222,694)
Issuance of common stock, net of withholdings	—		105		—		—		105		—		105
Repurchase of common stock, including repurchase costs	(9)		(69,779)		(67,670)		—		(137,458)		—		(137,458)
Amortization of deferred compensation	—		8,036		—		—		8,036		—		8,036
Balance at September 30, 2020	$	1,398	$	10,681,158	$	29,705	$	(42,617)	$	10,669,644	$	598	$	10,670,242