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Forward Equity Sale Agreement
12 Months Ended
Dec. 31, 2013
Forward Equity Sale Agreements  
Forward Equity Sale Agreement
Forward Equity Sale Agreement
Under a forward equity agreement, the Company may sell shares of common stock up to an aggregate notional amount of $400.0 million. During 2012, the Company entered into contracts to sell a notional amount of $147.2 million at an average share price of $121.37. During 2013, the Company agreed to net settle $77.0 million notional amount of forward equity contracts for cash at an average share price of $185.56. As of December 31, 2013, the Company has $70.2 million notional amount outstanding. The Company has the ability to settle the outstanding contracts either by delivering shares of common stock and receiving cash or net settling for cash or shares of common stock.