XML 45 R33.htm IDEA: XBRL DOCUMENT v3.22.2.2
Shareholders' Equity (Tables)
9 Months Ended
Sep. 30, 2022
Equity [Abstract]  
Reconciliation of Changes in Parent Company's Total Shareholders' Equity

The following is a reconciliation of the changes in the Parent Company’s total shareholders’ equity for the nine months ended September 30, 2022:

 

(dollars in thousands)

 

Common
Stock

 

 

Additional
Paid-in
Capital

 

 

Dividends in
Excess of
Net Income

 

 

Accumulated
Other
Comprehensive
Income (Loss)

 

 

Total
Shareholders’
Equity

 

Balance December 31, 2021

 

$

836

 

 

$

3,697,000

 

 

$

(314,713

)

 

$

(4,124

)

 

$

3,378,999

 

Net proceeds from issuance of common stock

 

 

7

 

 

 

92,764

 

 

 

 

 

 

 

 

 

92,771

 

Exercise of stock options

 

 

 

 

 

173

 

 

 

 

 

 

 

 

 

173

 

Earned portion of non-vested stock

 

 

 

 

 

1,661

 

 

 

 

 

 

 

 

 

1,661

 

Adjustment to redemption value on
   noncontrolling redeemable Operating
   Partnership units

 

 

 

 

 

 

 

 

10,924

 

 

 

 

 

 

10,924

 

Net income attributable to common
   shareholders

 

 

 

 

 

 

 

 

73,575

 

 

 

 

 

 

73,575

 

Amortization of terminated hedge included in
   AOCL

 

 

 

 

 

 

 

 

 

 

 

229

 

 

 

229

 

Dividends

 

 

 

 

 

 

 

 

(83,637

)

 

 

 

 

 

(83,637

)

Balance March 31, 2022

 

$

843

 

 

$

3,791,598

 

 

$

(313,851

)

 

$

(3,895

)

 

$

3,474,695

 

Net proceeds from issuance of common stock

 

 

1

 

 

 

7,864

 

 

 

 

 

 

 

 

 

7,865

 

Earned portion of non-vested stock

 

 

 

 

 

1,743

 

 

 

 

 

 

 

 

 

1,743

 

Carrying value less than redemption value on
   redeemed noncontrolling interest

 

 

 

 

 

(2

)

 

 

 

 

 

 

 

 

(2

)

Adjustment to redemption value on
   noncontrolling redeemable Operating
   Partnership units

 

 

 

 

 

 

 

 

27,930

 

 

 

 

 

 

27,930

 

Net income attributable to common
  shareholders

 

 

 

 

 

 

 

 

92,264

 

 

 

 

 

 

92,264

 

Amortization of terminated hedge included in
   AOCL

 

 

 

 

 

 

 

 

 

 

 

229

 

 

 

229

 

Dividends

 

 

 

 

 

 

 

 

(84,363

)

 

 

 

 

 

(84,363

)

Balance June 30, 2022

 

$

844

 

 

$

3,801,203

 

 

$

(278,020

)

 

$

(3,666

)

 

$

3,520,361

 

Net proceeds from issuance of common stock

 

 

6

 

 

 

80,213

 

 

 

 

 

 

 

 

 

80,219

 

Earned portion of non-vested stock

 

 

 

 

 

1,822

 

 

 

 

 

 

 

 

 

1,822

 

Carrying value less than redemption value on
   redeemed noncontrolling interest

 

 

 

 

 

(191

)

 

 

 

 

 

 

 

 

(191

)

Adjustment to redemption value on
   noncontrolling redeemable Operating
   Partnership units

 

 

 

 

 

 

 

 

(1,958

)

 

 

 

 

 

(1,958

)

Net income attributable to common
  shareholders

 

 

 

 

 

 

 

 

98,505

 

 

 

 

 

 

98,505

 

Amortization of terminated hedge included in
   AOCL

 

 

 

 

 

 

 

 

 

 

 

229

 

 

 

229

 

Dividends

 

 

 

 

 

 

 

 

(91,135

)

 

 

 

 

 

(91,135

)

Balance September 30, 2022

 

$

850

 

 

$

3,883,047

 

 

$

(272,608

)

 

$

(3,437

)

 

$

3,607,852

 

 

The following is a reconciliation of the changes in the Parent Company’s total shareholders’ equity for the nine months ended September 30, 2021:

 

(dollars in thousands)

 

Common
Stock

 

 

Additional
Paid-in
Capital

 

 

Dividends in
Excess of
Net Income

 

 

Accumulated
Other
Comprehensive
Income (Loss)

 

 

Total
Shareholders’
Equity

 

Balance December 31, 2020

 

$

495

 

 

$

2,671,311

 

 

$

(288,667

)

 

$

(5,041

)

 

$

2,378,098

 

Net proceeds from issuance of common stock

 

 

18

 

 

 

180,511

 

 

 

 

 

 

 

 

 

180,529

 

Earned portion of non-vested stock

 

 

 

 

 

1,453

 

 

 

 

 

 

 

 

 

1,453

 

Stock dividend

 

 

252

 

 

 

(252

)

 

 

 

 

 

 

 

 

 

Carrying value less than redemption value on
    redeemed noncontrolling interest

 

 

 

 

 

(4

)

 

 

 

 

 

 

 

 

(4

)

Adjustment to redemption value on
   noncontrolling redeemable Operating
   Partnership units

 

 

 

 

 

 

 

 

(2,358

)

 

 

 

 

 

(2,358

)

Net income attributable to common shareholders

 

 

 

 

 

 

 

 

47,383

 

 

 

 

 

 

47,383

 

Amortization of terminated hedge included in
   AOCL

 

 

 

 

 

 

 

 

 

 

 

229

 

 

 

229

 

Dividends

 

 

 

 

 

 

 

 

(55,840

)

 

 

 

 

 

(55,840

)

Balance March 31, 2021

 

$

765

 

 

$

2,853,019

 

 

$

(299,482

)

 

$

(4,812

)

 

$

2,549,490

 

Net proceeds from issuance of common stock

 

 

16

 

 

 

148,309

 

 

 

 

 

 

 

 

 

148,325

 

Earned portion of non-vested stock

 

 

 

 

 

1,467

 

 

 

 

 

 

 

 

 

1,467

 

Carrying value less than redemption value on
    redeemed noncontrolling interest

 

 

 

 

 

(13

)

 

 

 

 

 

 

 

 

(13

)

Adjustment to redemption value on
   noncontrolling redeemable Operating
   Partnership units

 

 

 

 

 

 

 

 

(7,142

)

 

 

 

 

 

(7,142

)

Net income attributable to common shareholders

 

 

 

 

 

 

 

 

57,516

 

 

 

 

 

 

57,516

 

Amortization of terminated hedge included in
   AOCL

 

 

 

 

 

 

 

 

 

 

 

229

 

 

 

229

 

Dividends

 

 

 

 

 

 

 

 

(56,873

)

 

 

 

 

 

(56,873

)

Balance June 30, 2021

 

$

781

 

 

$

3,002,782

 

 

$

(305,981

)

 

$

(4,583

)

 

$

2,692,999

 

Net proceeds from issuance of common stock

 

 

39

 

 

 

478,292

 

 

 

 

 

 

 

 

 

478,331

 

Earned portion of non-vested stock

 

 

 

 

 

1,683

 

 

 

 

 

 

 

 

 

1,683

 

Carrying value less than redemption value on
   redeemed noncontrolling interest

 

 

 

 

 

(15

)

 

 

 

 

 

 

 

 

(15

)

Adjustment to redemption value on
   noncontrolling redeemable Operating
   Partnership units

 

 

 

 

 

 

 

 

(3,570

)

 

 

 

 

 

(3,570

)

Net income attributable to common shareholders

 

 

 

 

 

 

 

 

70,274

 

 

 

 

 

 

70,274

 

Amortization of terminated hedge included in
   AOCL

 

 

 

 

 

 

 

 

 

 

 

229

 

 

 

229

 

Dividends

 

 

 

 

 

 

 

 

(57,953

)

 

 

 

 

 

(57,953

)

Balance September 30, 2021

 

$

820

 

 

$

3,482,742

 

 

$

(297,230

)

 

$

(4,354

)

 

$

3,181,978