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Accumulated Other Comprehensive Income | 6 Months Ended
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Jun. 30, 2018
Equity [Abstract] |
Accumulated Other Comprehensive Income | Stockholders’ Equity of the Company Common Stock Our authorized capital stock consists of 260,000,000 shares, $0.01 par value per share, consisting of 160,000,000 shares of common stock, $0.01 par value per share, 75,000,000 shares of excess stock, at $0.01 par value per share, and 25,000,000 shares of preferred stock, par value $0.01 per share. As of June 30, 2018, 85,725,135 shares of common stock and no shares of excess stock were issued and outstanding. Stock Repurchase Program In August 2016, our Board of Directors approved a stock repurchase plan under which we can repurchase up to $1.0 billion of shares of our common stock. The Board of Directors has since authorized two separate $500.0 million increases to the size of the share repurchase program in the fourth quarter of 2017 and the second quarter of 2018 bringing the program total to $2.0 billion. At June 30, 2018, repurchases executed under the plan were as follows:
Period | Shares repurchased | Average price paid per share | Cumulative number of shares repurchased as part of the repurchase plan or programs | Maximum approximate dollar value of shares that may yet be repurchased under the plan (in millions) (1)
2017 | 8,342,411 | $101.64 | 8,342,411 | $1,152.0
First quarter 2018 | 3,653,928 | $97.07 | 11,996,339 | $797.2
Second quarter 2018 (2) | 3,479,552 | $97.22 | 15,475,891 | $458.9
(1) | Reflective of $2.0 billion plan maximum as of June 30, 2018.
(2) | Includes 101,421 shares of common stock repurchased by the Company in June 2018 that were settled in July 2018.
Perpetual Preferred Stock We have 9,200,000 shares of our 6.50% Series I Cumulative Redeemable Preferred Stock, or the Series I Preferred Stock, outstanding with a mandatory liquidation preference of $25.00 per share. The Series I Preferred stockholders receive annual dividends of $1.625 per share paid on a quarterly basis and dividends are cumulative, subject to certain provisions. We are entitled to redeem the Series I Preferred Stock at par for cash at our option. In August 2012, we received $221.9 million in net proceeds from the issuance of the Series I Preferred Stock, which were recorded net of underwriters' discount and issuance costs, and contributed the net proceeds to the Operating Partnership in exchange for 9,200,000 units of 6.50% Series I Cumulative Redeemable Preferred Units of limited partnership interest, or the Series I Preferred Units. Dividend Reinvestment and Stock Purchase Plan ("DRSPP") In February 2018, the Company filed a registration statement with the SEC for our dividend reinvestment and stock purchase plan, or DRSPP, which automatically became effective upon filing. The Company registered 3,500,000 shares of our common stock under the DRSPP. The DRSPP commenced on September 24, 2001. The following table summarizes SL Green common stock issued, and proceeds received from dividend reinvestments and/or stock purchases under the DRSPP for the six months ended June 30, 2018 and 2017, respectively (dollars in thousands):
| Six Months Ended June 30,
| 2018 |  | 2017
Shares of common stock issued | 674 |  |  | 1,036 |
Dividend reinvestments/stock purchases under the DRSPP | $ | 64 |  |  | $ | 111 |
Earnings per Share SL Green's earnings per share for the three and six months ended June 30, 2018 and 2017 are computed as follows (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
Numerator | 2018 |  | 2017 |  | 2018 |  | 2017
Basic Earnings: |  |  |  |  |  |  |
Income attributable to SL Green common stockholders | $ | 103,556 |  |  | $ | 8,222 |  |  | $ | 205,322 |  |  | $ | 19,573 |
Effect of Dilutive Securities: |  |  |  |  |  |  |
Redemption of units to common shares | 5,586 |  |  | 419 |  |  | 10,858 |  |  | 895 |
Diluted Earnings: |  |  |  |  |  |  |
Income attributable to SL Green common stockholders | $ | 109,142 |  |  | $ | 8,641 |  |  | $ | 216,180 |  |  | $ | 20,468 |
| Three Months Ended June 30, |  | Six Months Ended June 30,
Denominator | 2018 |  | 2017 |  | 2018 |  | 2017
Basic Shares: |  |  |  |  |  |  |
Weighted average common stock outstanding | 87,176 |  |  | 99,900 |  |  | 88,772 |  |  | 100,268 |
Effect of Dilutive Securities: |  |  |  |  |  |  |
Operating Partnership units redeemable for common shares | 4,706 |  |  | 4,562 |  |  | 4,695 |  |  | 4,584 |
Stock-based compensation plans | 201 |  |  | 270 |  |  | 200 |  |  | 288 |
Diluted weighted average common stock outstanding | 92,083 |  |  | 104,732 |  |  | 93,667 |  |  | 105,140 |
SL Green has excluded 1,158,317 and 1,184,735 common stock equivalents from the diluted shares outstanding for the three and six months ended June 30, 2018, respectively, as they were anti-dilutive. SL Green has excluded 986,390 and 979,676 common stock equivalents from the diluted shares outstanding for the three and six months ended June 30, 2017, respectively, as they were anti-dilutive. Accumulated Other Comprehensive Income The following tables set forth the changes in accumulated other comprehensive income (loss) by component as of June 30, 2018 (in thousands):
| Net unrealized gain on derivative instruments (1) |  | SL Green’s share of joint venture net unrealized gain on derivative instruments (2) |  | Net unrealized gain on marketable securities |  | Total
Balance at December 31, 2017 | $ | 12,542 |  |  | $ | 5,020 |  |  | $ | 1,042 |  |  | $ | 18,604 |
Other comprehensive (loss) income before reclassifications | 9,837 |  |  | 4,097 |  |  | (14 | ) |  | 13,920 |
Amounts reclassified from accumulated other comprehensive income | 237 |  |  | (139 | ) |  | — |  |  | 98 |
Balance at June 30, 2018 | $ | 22,616 |  |  | $ | 8,978 |  |  | $ | 1,028 |  |  | $ | 32,622 |
(1) | Amount reclassified from accumulated other comprehensive income (loss) is included in interest expense in the respective consolidated statements of operations. As of June 30, 2018 and December 31, 2017, the deferred net losses from these terminated hedges, which is included in accumulated other comprehensive loss relating to net unrealized loss on derivative instrument, was $2.2 million and $3.2 million, respectively.
(2) | Amount reclassified from accumulated other comprehensive income (loss) is included in equity in net income from unconsolidated joint ventures in the respective consolidated statements of operations.

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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 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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