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Issuances of Common Stock (Tables) | 9 Months Ended
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Sep. 30, 2023
ATM Program |
Class of Stock [Line Items] |
Schedule of common stock issuances | The following table outlines common stock issuances pursuant to our ATM programs (dollars in millions):
|  |  | Three months ended September 30, |  | Nine months ended September 30,
|  |  |  |  | 2023 |  | 2022 |  | 2023 |  | 2022
Shares of common stock issued under the ATM program(1) |  |  |  |  | 15,070,342 |  | 9,532,853 |  | 63,209,973 |  | 35,506,034
Gross proceeds |  |  |  |  | $ | 883.0 |  |  | $ | 696.6 |  |  | $ | 3,880.4 |  |  | $ | 2,424.1 |
Sales agents' commissions and other offering expenses |  |  |  |  | (9.7) |  |  | (5.2) |  |  | (30.4) |  |  | (20.0) |
Net proceeds |  |  |  |  | $ | 873.3 |  |  | $ | 691.4 |  |  | $ | 3,850.0 |  |  | $ | 2,404.1 |
(1) During the three and nine months ended September 30, 2023, 23.5 million and 69.7 million shares were sold, respectively, and 15.1 million and 63.2 million shares were settled pursuant to forward sale confirmations, respectively. In addition, as of September 30, 2023, 13.3 million shares of common stock subject to forward sale confirmations have been executed, but not settled, at a weighted average initial gross price of $56.61 per share. We currently expect to fully settle forward sale agreements outstanding by December 31, 2023, representing $749.3 million in net proceeds, for which the weighted average forward price at September 30, 2023 was $56.47 per share.
DRSPP |
Class of Stock [Line Items] |
Schedule of common stock issuances | The following table outlines common stock issuances pursuant to our DRSPP program (dollars in millions):
|  |  | Three months ended September 30, |  | Nine months ended September 30,
|  |  |  |  | 2023 |  | 2022 |  | 2023 |  | 2022
Shares of common stock issued under the DRSPP program |  |  |  |  | 51,951 |  | 43,430 |  | 137,732 |  | 128,061 |
Gross proceeds |  |  |  |  | $ | 3.0 |  |  | $ | 3.0 |  |  | $ | 8.4 |  |  | $ | 8.7 |

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