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Redemption of Preferred Stock
3 Months Ended
Mar. 31, 2017
Redemption of Preferred Stock  
Redemption of Preferred Stock

9.        Redemption of Preferred Stock

 

In March 2017, we issued an irrevocable notice of redemption for all 16,350,000 shares of our 6.625% Monthly Income Class F Preferred Stock for $25 per share, plus accrued dividends. The redemption occurred in        April 2017. The issuance of the redemption notice prior to the end of the quarter required us to reclassify  $408.8 million of preferred stock from stockholders’ equity to liabilities on our consolidated balance sheet at March 31, 2017. These shares subject to mandatory redemption are presented at fair value. We incurred a charge of $13.4 million, representing the Class F preferred stock original issuance costs that we paid in 2012.