Cumulative Additional Dividends in Preferred   Common Preferred Common Paid-In Excess of (in thousands, except share amounts) Shares Shares Stock Stock Capital Net Income Total Balance at December 31, 1997 9,580,000     59,993,778 $ 96 $ 600 $ 1,629,214 $ (77,213 ) $ 1,552,697   Sales of common stock — 11,612,781 — 116 296,373 — 296,489   Shares issued in exchange for Unit redemptions — 51,613 — 1 452 — 453   Exercise of stock options — 2,000 — — 18 — 18   Conversion of Series A Cumulative    Preferred Stock to common stock (100,000 ) 100,000 (1 )   1 — — —   Net income — — — — — 126,497 126,497   Dividends paid — — — — — (162,215 ) (162,215 ) Balance at December 31, 1998 9,480,000 71,760,172 95 718 1,926,057 (112,931 ) 1,813,939   Repurchase of common stock — (5,000,000 ) — (50 ) (109,752 ) — (109,802 )   Shares issued in exchange for Unit redemptions — 38,430 — — 551 — 551   Exercise of stock options — 27,686 — — 134 — 134   Net income — — — — — 143,217 143,217   Dividends paid — — — — — (161,324 ) (161,324 ) Balance at December 31, 1999 9,480,000 66,826,288 95 668 1,816,990 (131,038 ) 1,686,715   Repurchase of common stock — (3,174,100 ) — (31 ) (90,192 ) — (90,223 )   Shares issued in exchange for Unit redemptions — 593,800 — — 14,999 — 14,999   Management incentive plan cancellation — (88,659 ) — — (2,325 ) — (2,325 )   Exercise of stock options — 660,294 — 11 16,513 — 16,524   Conversion of Series A Cumulative    Preferred Stock to common stock (200,000 ) 200,000 (2 ) 2 — — —   Net income — — — — — 179,467 179,467   Dividends paid — — — — — (158,451 ) (158,451 ) Balance at December 31, 2000 9,280,000 65,017,623 $ 93 $ 650 $ 1,755,985 $ (110,022 ) $ 1,646,706 See accompanying notes to consolidated financial statements.