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Equity | 9 Months Ended
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Sep. 30, 2015
Equity |
Equity | NOTE 13. Equity Common Stock The following table lists the common stock cash dividends declared by the Company in 2015:
|  |  |  | Amount |  | Dividend |
Declaration Date |  | Record Date |  | Per Share |  | Payable Date |
January 29 |  | February 9 |  | $ | 0.565 |  | February 24 |
April 30 |  | May 11 |  |  | 0.565 |  | May 26 |
July 30 |  | August 10 |  |  | 0.565 |  | August 25 |
October 29 |  | November 9 |  |  | 0.565 |  | November 24 |
In June 2015, the Company established an at-the-market equity o ffering program (“ATM Program”). Under this program, t he Company may sell shares of its common stock from time to time having an aggregate gross sales price of up to $750 million through a consortium of banks acting as sales agents or directly to the banks acting as principals. During the three and nine months ended September 30, 2015, the Company issued 1.25 million shares of common stock at a weighted average price of $40.58 for proceeds of $50 million, net of fees and commissions of $1 million. The following is a summary of the Company’s other common stock activities (shares in thousands):
|  | Nine Months Ended September 30, |
|  | 2015 |  | 2014 |
Dividend Reinvestment and Stock Purchase Plan |  | 2,345 |  | 1,775 |
Conversion of DownREIT units(1) |  | 75 |  | 2 |
Exercise of stock options |  | 820 |  | 131 |
Vesting of restricted stock units |  | 382 |  | 575 |
Repurchase of common stock |  | 178 |  | 297 |
| (1) |  | Non-managing member LLC units.
Subsequent Event. During October 2015, the Company issued 589,000 shares of common stock under its ATM Program at a weighted average price of $39.20 for proceeds of $23 million, net of fees and commissions of $350,000. Accumulated Other Comprehensive Loss The following is a summary of the Company’s accumulated other comprehensive loss (in thousands):
|  | September 30, |  | December 31, |
|  | 2015 |  | 2014 |
Cumulative foreign currency translation adjustment |  | $ | (18,844) |  | $ | (10,747) |
Unrealized losses on cash flow hedges, net |  |  | (9,932) |  |  | (9,624) |
Supplemental Executive Retirement Plan minimum liability |  |  | (3,329) |  |  | (3,537) |
Unrealized (losses) gains on available for sale securities |  |  | (345) |  |  | 13 |
Total accumulated other comprehensive loss |  | $ | (32,450) |  | $ | (23,895) |
Noncontrolling Interests At September 30, 2015, non-managing members held an aggregate of 4 million units in five limited liability companies (“DownREITs”), for which the Company is the managing member. At September 30, 2015, the carrying and fair values of these DownREIT units were $186 million and $224 million, respectively. See Note 17 for the supplemental schedule of non-cash financing activities. Subsequent Event. On October 7, 2015, the Company issued a 49% noncontrolling interest in HCP Ventures V to a n institutional capital investor for $110 million. HCP Ventures V owns a portfolio of 11 on-campus MOBs located in Texas acquired through a sale-leaseback transaction with Memorial Hermann in June 2015 (see Note 4).

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