Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2015

Long-Term Debt [Abstract]

Long-Term Debt

Long-term debt consists of the following:  

	December 31,
	2015		2014
Revolver under credit agreement	$	390,000	$	680,000
Term loan under credit agreement		800,000		660,000
2015 Notes		-		175,000
2016 Notes		100,000		100,000
2018 Notes		50,000		50,000
2019 Notes		175,000		175,000
2021 Notes		100,000		100,000
2022 Notes		125,000		-
2025 Notes		375,000		-
Tax-exempt bonds		31,430		31,430
Notes payable to sellers and other third parties, bearing interest at 3.0% to 10.9%, principal and interest payments due periodically with due dates ranging from 2016 to 2036		10,855		8,135
		2,157,285		1,979,565
Less – current portion		(2,127)		(3,649)
Less – debt issuance costs		(8,031)		(4,764)
	$	2,147,127	$	1,971,152

Tax-Exempt Bond Financing

The Company’s tax-exempt bond financings are as follows: 

	Type of	Interest Rate on Bond at December 31,	Maturity Date of	Outstanding Balance at December 31,				Backed by Letter of Credit
Name of Bond	Interest Rate	2015	Bond	2015		2014		(Amount)
West Valley Bond	Variable	0.05%	August 1, 2018	$	15,500	$	15,500	$	15,678
LeMay Washington Bond	Variable	0.05	April 1, 2033		15,930		15,930		16,126
				$	31,430	$	31,430	$	31,804

Aggregate Contractual Future Principal Payments by Calendar Year on Long-Term Debt

As of December 31, 2015, aggregate contractual future principal payments by calendar year on long-term debt are due as follows: 

2016 *	$	2,127
2017		1,069
2018		66,442
2019		175,955
2020		1,290,460
Thereafter		621,232
	$	2,157,285

______________________

*The Company has recorded the 2016 Notes in the 2020 category in the table above as the Company has the intent and ability to redeem the 2016 Notes on April 1, 2016 using borrowings under its credit agreement