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Equity and Capital | 12 Months Ended
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Dec. 31, 2016
Equity and Capital [Abstract] |
Equity and Capital | Equity and Capital Preferred Stock of the Parent Company Terms and conditions of the preferred stock outstanding are summarized as follows:
|  | Preferred Stock Outstanding as of December 31, 2016 and 2015
|  | Date of Issuance |  | Shares Issued and Outstanding |  | Liquidation Preference |  | Distribution Rate |  | Callable By Company
Series 6 |  | 2/16/2012 |  | 10,000,000 |  |  | $ | 250,000,000 |  |  | 6.625% |  | 2/16/2017
Series 7 |  | 8/23/2012 |  | 3,000,000 |  |  | 75,000,000 |  |  | 6.000% |  | 8/23/2017
|  |  |  | 13,000,000 |  |  | $ | 325,000,000 |  |  |  |  |
The Series 6 and 7 preferred shares are perpetual, absent a change in control of the Parent Company, are not convertible into common stock of the Parent Company, and are redeemable at par upon the Company’s election beginning 5 years after the issuance date. None of the terms of the preferred stock contain any unconditional obligations that would require the Company to redeem the securities at any time or for any purpose. Preferred Shares Redemption - Subsequent Event Subsequent to December 31, 2016, on February 16, 2017, the Parent Company redeemed all of the issued and outstanding 6.625% Series 6 cumulative redeemable preferred shares. The redemption price of $25.21 per share includes accrued and unpaid dividends, resulting in an aggregate amount being paid of $252.0 million. The funds use to redeem the Series 6 preferred shares were provided by the senior unsecured debt offering done in January 2017, as discussed in note 6. Common Stock of the Parent Company Issuances: At the Market ("ATM") Program Under the Parent Company's March 2014 prospectus supplement filed with the Securities and Exchange Commission with respect to an ATM equity offering program, the Parent Company may sell up to $200.0 million of common stock at prices determined by the market at the time of sale. As of December 31, 2016, $70.8 million in common stock remained available for issuance under this ATM equity program. The following table presents the shares that were issued under the ATM equity program, which was used to fund investment activities:
| Year ended December 31,
(dollar amounts are in thousands, except price per share data) | 2016 |  | 2015
Shares issued (1) | 182,787 |  |  | 189,266 |
Weighted average price per share | $ | 68.85 |  |  | 67.86 |
Gross proceeds | $ | 12,584 |  |  | 12,843 |
Commissions | $ | 157 |  |  | 161 |
Issuance costs | $ | 97 |  |  | — |
(1) Reflects shares traded in December and settled in January each year.
Forward Equity Offering In March 2016, the Parent Company entered into a forward sale agreement (the "Forward Equity Offering") to issue 3.10 million shares of its common stock at an offering price of $75.25 per share, before any underwriting discount and offering expenses. In June 2016, the Parent Company partially settled its forward equity offering by delivering 1.85 million shares of newly issued common stock, receiving $137.5 million of net proceeds, which were used to repay the Line. The remaining 1.25 million shares must be settled under the forward sale agreement prior to June 23, 2017. Equity Offering In July 2016, the Parent Company issued 5.0 million shares of common stock at $79.78 per share resulting in net proceeds of $400.1 million, used to (i) redeem, in August, $300 million of notes, including a make-whole payment, (ii) settle forward interest rate swaps, and (iii) fund investment activities and general corporate purposes. Tax Status of Dividends The following table summarizes the tax status of dividends paid on our common shares:
| Year ended December 31,
| 2016 |  | 2015 |  | 2014
Dividend per share | $2.00 |  | 1.94 |  | 1.88
Ordinary income | 53% |  | 71% |  | 70%
Capital gain | 8% |  | 5% |  | 16%
Return of capital | 39% |  | 19% |  | 14%
Qualified dividend income | —% |  | 5% |  | —%
Preferred Units of the Operating Partnership Preferred units for the Parent Company are outstanding in relation to the Parent Company's preferred stock, as discussed above. Common Units of the Operating Partnership Issuances: Common units were issued to the Parent Company in relation to the Parent Company's issuance of common stock, as discussed above. General Partners The Parent Company, as general partner, owned the following Partnership Units outstanding:
|  | December 31,
(in thousands) |  | 2016 |  | 2015
Partnership units owned by the general partner |  | 104,497 |  |  | 97,213 |
Partnership units owned by the limited partners |  | 154 |  |  | 154 |
Total partnership units outstanding |  | 104,651 |  |  | 97,367 |
Percentage of partnership units owned by the general partner |  | 99.9% |  | 99.8%
Accumulated Other Comprehensive Income (Loss) The following table presents changes in the balances of each component of AOCI:
| Controlling Interest |  | Noncontrolling Interest |  | Total
(in thousands) | Cash Flow Hedges |  | Unrealized gain (loss) on Available-For-Sale Securities |  | AOCI |  | Cash Flow Hedges |  | Unrealized gain (loss) on Available-For-Sale Securities |  | AOCI |  | AOCI
Balance as of December 31, 2013 | $ | (17,404 | ) |  | — |  |  | (17,404 | ) |  | (479 | ) |  | — |  |  | (479 | ) |  | (17,883 | )
Other comprehensive income before reclassifications | (49,524 | ) |  | 7,752 |  |  | (41,772 | ) |  | (444 | ) |  | 13 |  |  | (431 | ) |  | (42,203 | )
Amounts reclassified from accumulated other comprehensive income | 9,180 |  |  | (7,752 | ) |  | 1,428 |  |  | 173 |  |  | (13 | ) |  | 160 |  |  | 1,588 |
Current period other comprehensive income, net | (40,344 | ) |  | — |  |  | (40,344 | ) |  | (271 | ) |  | — |  |  | (271 | ) |  | (40,615 | )
Balance as of December 31, 2014 | $ | (57,748 | ) |  | — |  |  | (57,748 | ) |  | (750 | ) |  | — |  |  | (750 | ) |  | (58,498 | )
Other comprehensive income before reclassifications | (9,897 | ) |  | (43 | ) |  | (9,940 | ) |  | (192 | ) |  | — |  |  | (192 | ) |  | (10,132 | )
Amounts reclassified from accumulated other comprehensive income | 8,995 |  |  | — |  |  | 8,995 |  |  | 157 |  |  | — |  |  | 157 |  |  | 9,152 |
Current period other comprehensive income, net | (902 | ) |  | (43 | ) |  | (945 | ) |  | (35 | ) |  | — |  |  | (35 | ) |  | (980 | )
Balance as of December 31, 2015 | $ | (58,650 | ) |  | (43 | ) |  | (58,693 | ) |  | (785 | ) |  | — |  |  | (785 | ) |  | (59,478 | )
Other comprehensive income before reclassifications | (10,587 | ) |  | 24 |  |  | (10,563 | ) |  | 255 |  |  | — |  |  | 255 |  |  | (10,308 | )
Amounts reclassified from accumulated other comprehensive income | 50,910 |  |  | — |  |  | 50,910 |  |  | 229 |  |  | — |  |  | 229 |  |  | 51,139 |
Current period other comprehensive income, net | 40,323 |  |  | 24 |  |  | 40,347 |  |  | 484 |  |  | — |  |  | 484 |  |  | 40,831 |
Balance as of December 31, 2016 | $ | (18,327 | ) |  | (19 | ) |  | (18,346 | ) |  | (301 | ) |  | — |  |  | (301 | ) |  | (18,647 | )
The following represents amounts reclassified out of AOCI into income:
AOCI Component | Amount Reclassified from AOCI into Income |  | Affected Line Item (s) Where Net Income is Presented
| Year ended December 31, |  |
(in thousands) | 2016 |  | 2015 |  | 2014 |  |
Interest rate swaps | $ | 51,139 |  |  | 9,152 |  |  | 9,353 |  |  | Interest expense and Loss on derivative instruments
Realized gains on sale of available-for-sale securities | — |  |  | — |  |  | (7,765 | ) |  | Net investment (income) loss

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(d),(e)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 8: http://www.xbrl.org/2003/role/presentationRef -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=27012166&loc=d3e187085-122770 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section C + Details
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