The following is a summary of accumulated other comprehensive income/(loss) for the periods presented (in thousands):
| Unrecognized gains (losses) related to: | |||||||||||||||
| Foreign Currency Translation | Equity Investments | Actuarial losses | Cash Flow Hedges | Total | |||||||||||
| Balance at December 31, 2012 | $ | (881) | $ | (216) | $ | (2,974) | $ | (6,957) | $ | (11,028) | |||||
| Other comprehensive income before reclassification adjustments | (16,750) | (173) | 1,522 | (16) | (15,417) | ||||||||||
| Reclassification amount to net income | 0 | 0 | 0 | 1,914(1) | 1,914 | ||||||||||
| Net current-period other comprehensive income | (16,750) | (173) | 1,522 | 1,898 | (13,503) | ||||||||||
| Balance at December 31, 2013 | $ | (17,631) | $ | (389) | $ | (1,452) | $ | (5,059) | $ | (24,531) | |||||
| Balance at December 31, 2011 | $ | 0 | $ | (619) | $ | (2,748) | $ | (8,561) | $ | (11,928) | |||||
| Other comprehensive income before reclassification adjustments | (881) | 403 | (226) | 2,808 | 2,104 | ||||||||||
| Reclassification amount to net income | 0 | 0 | 0 | (1,204)(1) | (1,204) | ||||||||||
| Net current-period other comprehensive income | (881) | 403 | (226) | 1,604 | 900 | ||||||||||
| Balance at December 31, 2012 | $ | (881) | $ | (216) | $ | (2,974) | $ | (6,957) | $ | (11,028) | |||||
| (1) Please see Note 11 for additional information. | |||||||||||||||
Common Stock. The following is a summary of our common stock issuances during the periods indicated (dollars in thousands, except per share amounts):
| Shares Issued | Average Price | Gross Proceeds | Net Proceeds | ||||||||
| March 2011 public issuance | 28,750,000 | $ | 49.25 | $ | 1,415,938 | $ | 1,358,543 | ||||
| November 2011 public issuance | 12,650,000 | 50.00 | 632,500 | 606,595 | |||||||
| 2011 Dividend reinvestment plan issuances | 2,534,707 | 48.44 | 122,794 | 121,846 | |||||||
| 2011 Equity shelf program issuances | 848,620 | 50.53 | 42,888 | 41,982 | |||||||
| 2011 Option exercises | 232,081 | 37.17 | 8,628 | 8,628 | |||||||
| 2011 Totals | 45,015,408 | $ | 2,222,748 | $ | 2,137,594 | ||||||
| February 2012 public issuance | 20,700,000 | $ | 53.50 | $ | 1,107,450 | $ | 1,062,256 | ||||
| August 2012 public issuance | 13,800,000 | 58.75 | 810,750 | 778,011 | |||||||
| September 2012 public issuance | 29,900,000 | 56.00 | 1,674,400 | 1,606,665 | |||||||
| 2012 Dividend reinvestment plan issuances | 2,136,140 | 56.37 | 120,411 | 120,411 | |||||||
| 2012 Option exercises | 341,371 | 40.86 | 13,949 | 13,949 | |||||||
| 2012 Senior note conversions | 1,039,721 | 0 | 0 | ||||||||
| 2012 Totals | 67,917,232 | $ | 3,726,960 | $ | 3,581,292 | ||||||
| May 2013 public issuance | 23,000,000 | $ | 73.50 | $ | 1,690,500 | $ | 1,630,281 | ||||
| 2013 Dividend reinvestment plan issuances | 3,429,928 | 62.78 | 215,346 | 215,346 | |||||||
| 2013 Option exercises | 213,724 | 42.16 | 9,010 | 9,010 | |||||||
| 2013 Senior note conversions | 988,007 | 0 | 0 | ||||||||
| 2013 Preferred stock conversions | 116,618 | 0 | 0 | ||||||||
| 2013 Equity issued in acquisition of noncontrolling interest | 1,108,917 | 0 | 0 | ||||||||
| 2013 Totals | 28,857,194 | $ | 1,914,856 | $ | 1,854,637 | ||||||
The increase in dividends is primarily attributable to increases in our common and preferred shares outstanding as described above. Please refer to Notes 2 and 18 for information related to federal income tax of dividends. The following is a summary of our dividend payments (in thousands, except per share amounts)
| Year Ended | ||||||||||||||||||
| December 31, 2013 | December 31, 2012 | December 31, 2011 | ||||||||||||||||
| Per Share | Amount | Per Share | Amount | Per Share | Amount | |||||||||||||
| Common Stock | $ | 3.06000 | $ | 839,939 | $ | 2.96000 | $ | 653,321 | $ | 2.83500 | $ | 483,746 | ||||||
| Series D Preferred Stock | - | 0 | 0.50301 | 2,012 | 1.96875 | 7,875 | ||||||||||||
| Series F Preferred Stock | - | 0 | 0.48715 | 3,410 | 1.90625 | 13,344 | ||||||||||||
| Series H Preferred Stock | 2.85840 | 930 | 2.85840 | 1,000 | 2.85840 | 1,000 | ||||||||||||
| Series I Preferred Stock | 3.25000 | 46,719 | 3.25000 | 46,719 | 1.33159 | 38,283 | ||||||||||||
| Series J Preferred Stock | 1.62510 | 18,687 | 1.39038 | 15,988 | - | 0 | ||||||||||||
| Totals | $ | 906,275 | $ | 722,450 | $ | 544,248 | ||||||||||||
| Year Ended | ||||||||||||
| December 31, 2013 | December 31, 2012 | December 31, 2011 | ||||||||||
| Weighted Avg. | Weighted Avg. | Weighted Avg. | ||||||||||
| Shares | Dividend Rate | Shares | Dividend Rate | Shares | Dividend Rate | |||||||
| Beginning balance | 26,224,854 | 6.493% | 25,724,854 | 7.013% | 11,349,854 | 7.663% | ||||||
| Shares issued | - | 0.000% | 11,500,000 | 6.500% | 14,375,000 | 6.500% | ||||||
| Shares redeemed | - | 0.000% | (11,000,000) | 7.716% | - | 0.000% | ||||||
| Shares converted | (116,618) | 6.000% | - | 0.000% | - | 0.000% | ||||||
| Ending balance | 26,108,236 | 6.496% | 26,224,854 | 6.493% | 25,724,854 | 7.013% | ||||||
The following is a summary of our stockholder’s equity capital accounts as of the dates indicated:
| December 31, 2013 | December 31, 2012 | ||||
| Preferred Stock, $1.00 par value: | |||||
| Authorized shares | 50,000,000 | 50,000,000 | |||
| Issued shares | 26,108,236 | 26,224,854 | |||
| Outstanding shares | 26,108,236 | 26,224,854 | |||
| Common Stock, $1.00 par value: | |||||
| Authorized shares | 400,000,000 | 400,000,000 | |||
| Issued shares | 290,024,789 | 260,780,109 | |||
| Outstanding shares | 289,563,651 | 260,373,754 | |||