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Notes and Contracts Payable (Tables)
12 Months Ended
Dec. 31, 2014
Debt Disclosure [Abstract]  
Schedule of Notes and Contracts Payable

 

 

December 31,

 

 

2014

 

 

2013

 

 

(in thousands, except percentages)

 

4.60% senior unsecured notes due November 15, 2024, net of unamortized discount of $74 at December 31, 2014, effective interest rate of 4.60%

$

299,926

 

 

$

 

4.30% senior unsecured notes due February 1, 2023, net of unamortized discount of $760 and $837 at December 31, 2014 and 2013, respectively, effective interest rate of 4.35%

 

249,240

 

 

 

249,163

 

Trust deed notes with maturities through 2032, collateralized by land and buildings with a net book value of $52,414 and $55,206 at December 31, 2014 and 2013, respectively, weighted-average interest rate of 5.39% and 5.42%, at December 31, 2014 and 2013, respectively

 

34,420

 

 

 

38,151

 

Other notes and contracts payable with maturities through 2020, weighted-average interest rate of 5.30% and 2.96% at December 31, 2014 and 2013, respectively

 

3,751

 

 

 

22,971

 

 

$

587,337

 

 

$

310,285

 

 

Aggregate Annual Maturities of Notes and Contracts Payable

The aggregate annual maturities for notes and contracts payable in each of the five years after December 31, 2014, are as follows:

 

Year

 

Annual maturities

 

 

(in thousands)

 

2015

$

4,899

 

2016

 

4,458

 

2017

 

5,009

 

2018

 

3,861

 

2019

 

3,593

 

Thereafter

 

565,517

 

 

$

587,337