Equity

Common Stock

A summary of the changes in our common shares issued for the Current Period and the Prior Period are detailed below.



	Nine Months Ended September 30,
	2016	2015
	(in thousands)
Shares issued as of January 1	664,796	664,944
Exchange of convertible notes	55,428	—
Exchange of senior notes	53,924	—
Conversion of preferred stock	1,021	—
Restricted stock issuances (net of forfeitures and cancellations)	1,852	85
Stock option exercises	—	14
Shares issued as of September 30	777,021	665,043

On May 20, 2016, our shareholders approved an amendment to our certificate of incorporation to increase our authorized common stock from 1,000,000,000 shares to 1,500,000,000 shares, par value $0.01 per share.

Preferred Stock

Outstanding shares of our preferred stock for the Current Period and the Prior Period are detailed below.



	5.75%		5.75% (A)		4.50%	5.00% (2005B)
	(in thousands)
Shares outstanding as of January 1, 2016	1,497		1,100		2,559	2,096
Preferred stock conversions^(a)	(25	)	(1	)	—	—
Shares outstanding as of September 30, 2016	1,472		1,099		2,559	2,096

Shares outstanding as of January 1, 2015 and September 30, 2015	1,497		1,100		2,559	2,096

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(a)

In the Current Period, holders of our 5.75% Cumulative Convertible Preferred Stock converted 24,601 shares into 975,488 shares of common stock. Also in the Current Period, holders of our 5.75% (Series A) Cumulative Convertible Preferred Stock converted 1,201 shares into 46,018 shares of common stock. Subsequent to September 30, 2016, we exchanged additional shares of our outstanding preferred stock for shares of our common stock. See Note 16 for information regarding the exchanges.

Dividends

In January 2016, we announced that we were suspending dividend payments on each series of our outstanding convertible preferred stock. Suspension of the dividends did not constitute an event of default under our revolving credit facility or bond indentures. Our preferred stock dividends for the Current Period (paid in arrears) are detailed below.



	5.75%		5.75% (A)		4.50%		5.00% (2005B)
	($ in millions)
Dividends in arrears	$	63	$	48	$	7	$	9

Accumulated Other Comprehensive Income (Loss)

For the Current Period and the Prior Period, changes in accumulated other comprehensive income (loss) for cash flow hedges, net of tax, are detailed below.



	Nine Months Ended September 30,
	2016			2015
	($ in millions)
Balance, December 31	$	(99	)	$	(143	)

Other comprehensive income before reclassifications	(23		)	6
Amounts reclassified from accumulated other comprehensive income	21			18
Net other comprehensive income (loss)	(2		)	24

Balance, September 30	$	(101	)	$	(119	)

For the Current Quarter, the Prior Quarter, the Current Period and the Prior Period, net losses on cash flow hedges for commodity contracts reclassified from accumulated other comprehensive income (loss), net of tax, to oil, natural gas and NGL revenues in the condensed consolidated statements of operations were $7 million, $5 million, $21 million and $18 million, respectively.