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Stockholders' Equity | 12 Months Ended
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Dec. 31, 2021
Equity [Abstract] |
Stockholders' Equity | Stockholders' Equity Our authorized share capital is 300,000,000 shares of common stock and 100,000,000 shares of preferred stock, of which 25,000,000 is designated Series A, 25,000,000 is designated as Series A-1 and 50,000,000 is undesignated. As of December 31, 2021 and 2020, we had no preferred stock issued and outstanding. Common Stock In March 2019, we issued and sold 2,985,575 shares of common stock in a public offering pursuant to a registration statement and a related prospectus and prospectus supplement. We received net proceeds of approximately $1.2 billion, net of underwriting discounts, commissions and offering expenses. In May 2020, we issued and sold 2,587,500 shares of common stock in a public offering pursuant to a registration statement and a related prospectus and prospectus supplement. We received net proceeds of approximately $1.7 billion, net of underwriting discounts, commissions and offering expenses. In December 2018, we established an "at the market" equity offering program (the "2018 ATM Program"), under which we could, from time to time, offer and sell shares of our common stock to or through sales agents up to an aggregate of $750.0 million. For the years ended December 31, 2020, and 2019, we sold 415,512 shares and 903,555 shares, respectively, for approximately $298.3 million and $447.5 million, respectively, net of payment of commissions to sales agents and other offering expenses, under the 2018 ATM Program. As of December 31, 2020, no shares remained available for sale under the 2018 ATM Program. In October 2020, we established another ATM program, under which we may, from time to time, offer and sell up to an aggregate of $1.5 billion of our common stock to or through sales agents in "at the market" transactions (the "2020 ATM Program"). For the year ended December 31, 2021, we sold 637,617 shares for approximately $497.9 million, net of payment of commissions to sales agents and other offering expenses, under the 2020 ATM Program. For the year ended December 31, 2020, we did not sell any shares under the 2020 ATM Program. As of December 31, 2021, we had reserved the following authorized but unissued shares of common stock for future issuances:
Common stock options and restricted stock units | 5,327,514 |
Common stock employee purchase plans | 2,640,649 |
Total | 7,968,163 |
Accumulated Other Comprehensive Loss The changes in accumulated other comprehensive loss, net of tax, by components are as follows (in thousands):
| December 31, 2018 |  | Net Change |  | December 31, 2019 |  | Net Change |  | December 31, 2020 |  | Net Change |  |  |  | December 31, 2021
Foreign currency translation adjustment ("CTA") gain (loss) | $ | (998,603) |  |  | $ | (58,315) |  |  | $ | (1,056,918) |  |  | $ | 548,503 |  |  | $ | (508,415) |  |  | $ | (559,984) |  |  |  |  | $ | (1,068,399) |
Unrealized gain (loss) on cash flow hedges (1) | 19,480 |  |  | (3,842) |  |  | 15,638 |  |  | (82,790) |  |  | (67,152) |  |  | 60,562 |  |  |  |  | (6,590) |
Net investment hedge CTA gain (loss) (1) | 34,325 |  |  | 73,294 |  |  | 107,619 |  |  | (444,553) |  |  | (336,934) |  |  | 326,982 |  |  |  |  | (9,952) |
Net actuarial gain (loss) on defined benefit plans (2) | (904) |  |  | (48) |  |  | (952) |  |  | 85 |  |  | (867) |  |  | 57 |  |  |  |  | (810) |
| $ | (945,702) |  |  | $ | 11,089 |  |  | $ | (934,613) |  |  | $ | 21,245 |  |  | $ | (913,368) |  |  | $ | (172,383) |  |  |  |  | $ | (1,085,751) |
(1)Refer to Note 8 for a discussion of the amounts reclassified from accumulated other comprehensive loss to net income. (2)We have a defined benefit pension plan covering all employees in two countries where such plans are mandated by law. We do not have any defined benefit plans in any other countries. The unamortized gain (loss) on defined benefit plans includes gains or losses resulting from a change in the value of either the projected benefit obligation or the plan assets resulting from a change in an actuarial assumption, net of amortization. Changes in foreign currencies can have a significant impact to our consolidated balance sheets (as evidenced above in our foreign currency translation loss), as well as its consolidated results of operations, as amounts in foreign currencies are generally translated into more U.S. dollars when the U.S. dollar weakens or less U.S. dollars when the U.S. dollar strengthens. As of December 31, 2021, the U.S. dollar was generally stronger relative to certain of the currencies of the foreign countries in which we operate as compared to December 31, 2020. Because of this, the U.S. dollar had an overall unfavorable impact on our consolidated financial position because the foreign denominations translated into fewer U.S. dollars as evidenced by an increase in foreign currency translation loss for the year ended December 31, 2021 as reflected in the above table. The volatility of the U.S. dollar as compared to the other currencies in which we operate could have a significant impact on our consolidated financial position and results of operations including the amount of revenue that we report in future periods. Dividends During the years ended December 31, 2021, 2020 and 2019, our Board of Directors declared quarterly dividends whose treatment for federal income tax purposes were as follows:
Declaration Date |  | Record Date |  | Payment Date |  | Total Distribution (1) |  | Nonqualified Ordinary Dividend (2) |  | Total Distribution Amount |  |  |  |
|  |  |  |  |  | (per share) |  | (in thousands) |  |  |  |
Fiscal 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |
2/10/2021 |  | 2/24/2021 |  | 3/17/2021 |  | $ | 2.870000 |  |  | $ | 2.870000 |  |  | $ | 256,321 |  |  |  |  |
4/28/2021 |  | 5/19/2021 |  | 6/16/2021 |  | 2.870000 |  |  | 2.870000 |  |  | 257,199 |  |  |  |  |
7/28/2021 |  | 8/18/2021 |  | 9/22/2021 |  | 2.870000 |  |  | 2.870000 |  |  | 257,769 |  |  |  |  |
11/3/2021 |  | 11/17/2021 |  | 12/15/2021 |  | 2.870000 |  |  | 2.870000 |  |  | 258,716 |  |  |  |  |
Total |  |  |  |  |  | $ | 11.480000 |  |  | $ | 11.480000 |  |  | $ | 1,030,005 |  |  |  |  |
Fiscal 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |
2/12/2020 |  | 2/26/2020 |  | 3/18/2020 |  | $ | 2.660000 |  |  | $ | 2.660000 |  |  | $ | 227,386 |  |  |  |  |
5/6/2020 |  | 5/20/2020 |  | 6/17/2020 |  | 2.660000 |  |  | 2.660000 |  |  | 235,449 |  |  |  |  |
7/29/2020 |  | 8/19/2020 |  | 9/23/2020 |  | 2.660000 |  |  | 2.660000 |  |  | 236,424 |  |  |  |  |
10/28/2020 |  | 11/18/2020 |  | 12/9/2020 |  | 2.660000 |  |  | 2.660000 |  |  | 237,010 |  |  |  |  |
Total |  |  |  |  |  | $ | 10.640000 |  |  | $ | 10.640000 |  |  | $ | 936,269 |  |  |  |  |
Fiscal 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |
2/13/2019 |  | 2/27/2019 |  | 3/20/2019 |  | $ | 2.460000 |  |  | $ | 2.460000 |  |  | $ | 198,933 |  |  |  |  |
5/1/2019 |  | 5/22/2019 |  | 6/19/2019 |  | 2.460000 |  |  | 2.460000 |  |  | 207,949 |  |  |  |  |
7/31/2019 |  | 8/21/2019 |  | 9/18/2019 |  | 2.460000 |  |  | 2.460000 |  |  | 209,226 |  |  |  |  |
10/30/2019 |  | 11/20/2019 |  | 12/11/2019 |  | 2.460000 |  |  | 2.460000 |  |  | 209,785 |  |  |  |  |
Total |  |  |  |  |  | $ | 9.840000 |  |  | $ | 9.840000 |  |  | $ | 825,893 |  |  |  |  |
(1)Common stock dividends are characterized for federal income tax purposes as nonqualified ordinary dividend, qualified ordinary dividend, capital gains or return of capital. During the years ended December 31, 2021, 2020 and 2019, we did not classify any portion of the distributions as qualified ordinary dividend, capital gains or return of capital. (2)All nonqualified ordinary dividends are eligible for the 20% deduction generally allowable to non-corporate shareholders under Internal Revenue Code Section 199A. In addition, as of December 31, 2021, for dividends and special distributions attributed to the RSUs, we recorded a short term dividend payable of $12.0 million and a long term dividend payable of $9.7 million for the RSUs that have not yet vested. As of December 31, 2020, for dividends and special distributions attributed to the RSUs, we recorded a short term dividend payable of $10.9 million and a long term dividend payable of $7.9 million for the RSUs that have not yet vested.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 16 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496180-112644 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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