Convertible Debt and Notes Payable (Tables)

3 Months Ended

Mar. 31, 2018

Schedule of Debt and Capital Lease Obligations

As of March 31, 2018 and December 31, 2017, the Company's outstanding debt was as follows:



	As of March 31, 2018		As of December 31, 2017
	(dollars in thousands)
Convertible debt	$	142,962	$	141,502
Note payable	133,125		132,970
Pledge line	85,678		—
Term loan	28,161		28,121
Other notes payable	9,332		8,247
Capital lease obligations	3,948		4,120
	$	403,206	$	314,960

Schedule of Maturities of Debt and Future Minimum Lease Payments for Capital Leases

Annual scheduled maturities of debt and minimum payments (of principle and interest) for all debt outstanding as of March 31, 2018, are as follows:



	Convertible Debt			Note Payable			Term loan			Other Note Payable			Capital Lease Obligation
	(dollars in thousands)
2018	$	4,577		$	7,607		$	28,551		$	3,023		$	1,562
2019	38,925			10,143			—			3,410			802
2020	4,050			10,143			—			1,363			724
2021	4,050			10,143			—			2,512			724
2022	139,050			10,143			—			—			491
Thereafter	—			188,715			—			—			—
Subtotal	190,652			236,894			28,551			10,308			4,303
Less (a)	(47,690		)	(103,769		)	(390		)	(976		)	(355		)
Total	$	142,962		$	133,125		$	28,161		$	9,332		$	3,948


(a)	Amount necessary to reduce net minimum payments to present value calculated at the Company's implicit rate at inception. This amount also includes capitalized debt costs and the unamortized discount on the convertible debt.

Schedule of Line of Credit Facilities

As of March 31, 2018, the Company has eight irrevocable letters of credit, related to leased office space, for which there is cash collateral pledged and the Company pays a fee on the stated amount of the letter of credit. The Company also has pledged as collateral, $8.9 million, as of March 31, 2018, and $11.8 million, as of December 31, 2017, anticipated to be due March 2021, for reinsurance agreements.



Location	Amount		Maturity
	(dollars in thousands)
Connecticut	$	65	September 2018
Boston	$	385	March 2019
New York	$	356	April 2018
New York	$	70	May 2018
New York	$	496	October 2018
New York	$	2,249	October 2018
New York	$	1,611	November 2018
San Francisco	$	712	January 2019