Convertible Debt and Notes Payable (Tables)

9 Months Ended

Sep. 30, 2018

Schedule of Debt and Capital Lease Obligations

As of September 30, 2018 and December 31, 2017, the Company's outstanding debt was as follows:



	As of September 30, 2018		As of December 31, 2017
	(dollars in thousands)
Convertible debt	$	133,126	$	141,502
Notes payable	229,581		132,970
Term loan	28,200		28,121
Other notes payable	7,688		8,247
Capital lease obligations	5,613		4,120
	$	404,208	$	314,960

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

Annual scheduled maturities of debt and minimum payments (of principal and interest) for all debt outstanding as of September 30, 2018, are as follows:



	Convertible Debt			Notes Payable			Term loan			Other Notes Payable			Capital Lease Obligation
	(dollars in thousands)
2018	$	2,025		$	4,473		$	—		$	1,106		$	568
2019	25,223			17,893			29,414			3,410			1,438
2020	4,050			17,893			—			1,363			1,360
2021	4,050			17,893			—			2,512			1,360
2022	139,050			17,893			—			—			1,128
Thereafter	—			370,090			—			—			374
Subtotal	174,398			446,135			29,414			8,391			6,228
Less (a)	(41,272		)	(216,554		)	(1,214		)	(703		)	(615		)
Total	$	133,126		$	229,581		$	28,200		$	7,688		$	5,613


(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 September 30, 2018, the Company has the following seven irrevocable letters of credit, related to leased office space, for which there is cash collateral pledged, which the Company pays a fee on the stated amount of the letter of credit. The Company also has pledged collateral for reinsurance agreements which amounted to $10.8 million, as of September 30, 2018, and $11.8 million, as of December 31, 2017, which is anticipated to be due March 2021



Location	Amount		Maturity
	(dollars in thousands)
Boston	$	386	March 2019
New York	$	356	April 2019
New York	$	70	May 2019
New York	$	497	October 2018
New York	$	1,686	October 2018
New York	$	1,615	November 2018
San Francisco	$	714	January 2019