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Partners' Capital of the Operating Partnership | 12 Months Ended
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Dec. 31, 2020
Partners' Capital [Abstract] |
Partners' Capital of the Operating Partnership | Partners’ Capital of the Operating Partnership Common Units Issuance of Common Units In March 2020, the Company physically settled the forward equity sale agreements entered into in February 2020 (see Note 13 “Stockholders’ Equity of the Company”). Upon settlement, the Company issued 5,750,000 shares of common stock for net proceeds of $474.9 million and contributed the net proceeds to the Operating Partnership in exchange for 5,750,000 common units. In July 2019, the Company physically settled the forward equity sale agreements entered into in August 2018 (see Note 13 “Stockholders’ Equity of the Company”). Upon settlement, the Company issued 5,000,000 shares of common stock for net proceeds of $354.3 million and contributed the net proceeds to the Operating Partnership in exchange for 5,000,000 common units. At-The-Market Stock Offering Program In March 2020, the Company physically settled all forward equity sale agreements entered into in 2019. Upon settlement, the Company issued 3,147,110 shares of common stock for net proceeds of $247.3 million and contributed the net proceeds to the Operating Partnership in exchange for an equal number of units in the Operating Partnership. The Company did not issue any shares of common stock under its at-the-market programs and did not contribute any shares of common stock to the Operating Partnership during the year ended December 31, 2019. During the year ended December 31, 2018, the Company utilized its at-the-market stock offering programs to issue shares of common stock. See Note 13 “Stockholders’ Equity of the Company” for additional information. The net offering proceeds contributed by the Company to the Operating Partnership in exchange for common units for the year ended December 31, 2020 and 2018 are as follows:
|  | Year Ended December 31,
|  | 2020 | 2018
|  | (in millions except share and per share data)
Shares of common stock contributed by the Company |  | 3,147,110 |  | 1,817,195 |
Common units exchanged for shares of common stock by the Company |  | 3,147,110 |  | 1,817,195 |
Aggregate gross proceeds |  | $ | 252.0 |  | $ | 133.8 |
Aggregate net proceeds after selling commissions |  | $ | 247.3 |  | $ | 132.1 |
Common Units Outstanding The following table sets forth the number of common units held by the Company and the number of common units held by non-affiliated investors and certain of our executive officers and directors in the form of noncontrolling common units as well as the ownership interest held on each respective date:
| December 31, 2020 |  | December 31, 2019
Company owned common units in the Operating Partnership | 116,035,827 |  |  | 106,016,287 |
Company owned general partnership interest | 99.0 | % |  | 98.1 | %
Noncontrolling common units of the Operating Partnership | 1,150,574 |  |  | 2,023,287 |
Ownership interest of noncontrolling interest | 1.0 | % |  | 1.9 | %
For a further discussion of the noncontrolling common units during the years ended December 31, 2020 and 2019, refer to Note 11 “Noncontrolling Interests on the Company’s Consolidated Financial Statements.” Accrued Distributions The following tables summarize accrued distributions for the noted common units as of December 31, 2020 and 2019:
| December 31, 2020 |  | December 31, 2019
| (in thousands)
Distributions payable to: |  |  |
General partner | $ | 58,018 |  |  | $ | 51,418 |
Common limited partners | 575 |  |  | 981 |
RSU holders (1) | 838 |  |  | 820 |
Total accrued distributions to common unitholders | $ | 59,431 |  |  | $ | 53,219 |
_____________________ (1)The amount includes the value of the dividend equivalents that will be paid with additional RSUs (see Note 15 “Share-Based and Other Compensation” for additional information).
| December 31, 2020 |  | December 31, 2019
Outstanding Units: |
Common units held by the general partner | 116,035,827 |  |  | 106,016,287 |
Common units held by the limited partners | 1,150,574 |  |  | 2,023,287 |
RSUs (1) | 1,638,026 |  |  | 1,651,905 |
_____________________ (1)Does not include 873,709 and 932,675 market measure-based RSUs because not all the necessary performance conditions have been met as of December 31, 2020 and 2019, respectively. Refer to Note 15 “Share-Based and Other Compensation” for additional information.

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- Definition The entire disclosure for the formation, structure, control and ownership of the partnership. Disclosures related to accounts comprising partners' capital. Includes balances of general partners' capital account, limited partners' capital account, preferred partners' capital account and total partners' capital account and units outstanding; accumulated other comprehensive income; amount and nature of changes to amount of partner's capital and units outstanding by class, rights and privileges for each class of units; distribution policies and distributions paid by unit class; impact of and correction of an error in previously issued financial statements; limitations of partners' liability; redemption, conversion and distribution policies; and deferred compensation related to the issuance of units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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