Notes Payable, Collateralized and Short-Term Borrowings (Tables)

3 Months Ended

Mar. 31, 2016

Debt Disclosure [Abstract]

Notes Payable, Collateralized and Short-Term Borrowings

Notes payable, collateralized and short-term borrowings consisted of the following (in thousands):

	March 31, 2016		December 31, 2015
4.50% Convertible Notes	$	158,557	$	157,332
8.125% Senior Notes		109,178		109,147
5.375% Senior Notes		296,346		296,100
8.375% Senior Notes		253,233		255,300
Collateralized borrowings		21,321		22,998
Total	$	838,635	$	840,877

Carrying Amounts and Estimated Fair Values of Company's Convertible Notes and Senior Notes

The Company’s Convertible Notes and Senior Notes are recorded at amortized cost. As of March 31, 2016 and December 31, 2015, the carrying amounts and estimated fair values of the Company’s Convertible Notes and Senior Notes were as follows (in thousands):

	March 31, 2016				December 31, 2015
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
4.50% Convertible Notes	$	158,557	$	164,200	$	157,332	$	173,700
8.125% Senior Notes		109,178		117,450		109,147		121,095
5.375% Senior Notes		296,346		315,420		296,100		309,750
8.375% Senior Notes		253,233		253,500		255,300		263,724
Total	$	817,314	$	850,570	$	817,879	$	868,269

Summary of Company's Convertible Notes

Below is a summary of the Company’s Convertible Notes (in thousands, except share and per share amounts):

	4.50% Convertible Notes
	March 31, 2016			December 31, 2015
Principal amount of debt component	$	160,000		$	160,000
Unamortized discount		(1,443	)		(2,668	)
Carrying amount of debt component		158,557			157,332
Equity component		18,972			18,972
Effective interest rate		7.61	%		7.61	%
Maturity date (period through which discount is being amortized)		7/15/2016			7/15/2016
Conversion price	$	9.84		$	9.84
Number of shares to be delivered upon conversion		16,260,160			16,260,160
Amount by which the notes’ if-converted value exceeds their principal amount	$	—		$	—

Summary of Interest Expense Related to Company's Convertible Notes

Below is a summary of the interest expense related to the Company’s Convertible Notes (in thousands):

	4.50% Convertible Notes				8.75% Convertible Notes
	For the three months ended				For the three months ended
	March 31, 2016		March 31, 2015		March 31, 2016		March 31, 2015
Coupon interest	$	1,800	$	1,800	$	—	$	3,281
Amortization of discount		1,225		1,187		—		—
Total interest expense	$	3,025	$	2,987	$	—	$	3,281