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

9 Months Ended

Sep. 30, 2016

Debt Disclosure [Abstract]

Notes Payable, Collateralized and Short-Term Borrowings

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

	September 30, 2016		December 31, 2015
4.50% Convertible Notes	$	—	$	157,332
8.125% Senior Notes		109,240		109,147
5.375% Senior Notes		296,837		296,100
8.375% Senior Notes		249,078		255,300
5.125% Senior Notes		296,026		—
Collateralized borrowings		17,930		22,998
Total	$	969,111	$	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 September 30, 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):

	September 30, 2016				December 31, 2015
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
4.50% Convertible Notes	$	—	$	—	$	157,332	$	173,700
8.125% Senior Notes		109,240		116,820		109,147		121,095
5.375% Senior Notes		296,837		314,625		296,100		309,750
8.375% Senior Notes		249,078		259,350		255,300		263,724
5.125% Senior Notes		296,026		313,125		—		—
Total	$	951,181	$	1,003,920	$	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
	September 30, 2016		December 31, 2015
Principal amount of debt component	$	—	$	160,000
Unamortized discount		—		(2,668	)
Carrying amount of debt component		—		157,332
Equity component		—		18,972
Effective interest rate		—		7.61	%
Maturity date (period through which discount is being amortized)		7/15/2016		7/15/2016
Conversion price	$	—	$	9.84
Number of shares to be delivered upon conversion		—		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
	September 30, 2016		September 30, 2015		September 30, 2016		September 30, 2015
Coupon interest	$	280	$	1,800	$	—	$	—
Amortization of discount		207		1,206		—		—
Total interest expense	$	487	$	3,006	$	—	$	—

	4.50% Convertible Notes				8.75% Convertible Notes
	For the nine months ended				For the nine months ended
	September 30, 2016		September 30, 2015		September 30, 2016		September 30, 2015
Coupon interest	$	3,880	$	5,400	$	—	$	3,828
Amortization of discount		2,666		3,590		—		—
Total interest expense	$	6,546	$	8,990	$	—	$	3,828