Debt (Tables)

3 Months Ended

Mar. 31, 2015

Our debt consists of the following (in thousands):



	March 31, 2015		December 31, 2014
Debt payable, net to 2038 ⁽¹⁾	$	1,743,792	$	1,656,083
Unsecured notes payable under credit facilities	104,000		189,000
Debt service guaranty liability	72,105		72,105
Obligations under capital leases	21,000		21,000
Total	$	1,940,897	$	1,938,188

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(1)	At March 31, 2015, interest rates ranged from 2.6% to 8.6% at a weighted average rate of 4.5%. At December 31, 2014, interest rates ranged from 3.4% to 8.6% at a weighted average rate of 4.9%.

Grouping Of Debt Between Fixed And Variable As Well As Secured And Unsecured

The allocation of total debt between fixed and variable-rate as well as between secured and unsecured is summarized below (in thousands):



	March 31, 2015		December 31, 2014
As to interest rate (including the effects of interest rate contracts):
Fixed-rate debt	$	1,740,075	$	1,651,959
Variable-rate debt	200,822		286,229
Total	$	1,940,897	$	1,938,188
As to collateralization:
Unsecured debt	$	1,368,350	$	1,343,217
Secured debt	572,547		594,971
Total	$	1,940,897	$	1,938,188

Schedule Of Credit Facilities

The following table discloses certain information regarding our unsecured notes payable under our credit facilities (in thousands, except percentages):



	March 31, 2015			December 31, 2014
Unsecured revolving credit facility:
Balance outstanding	$	104,000		$	189,000
Available balance	391,777			306,777
Letters of credit outstanding under facility	4,223			4,223
Variable interest rate (excluding facility fee)	1.0		%	0.8		%
Unsecured short-term facility:
Balance outstanding	$	—
Variable interest rate (excluding facility fee)	—		%
Both facilities:
Maximum balance outstanding during the period	$	243,000		$	270,000
Weighted average balance	167,500			151,036
Year-to-date weighted average interest rate (excluding facility fee)	0.9		%	0.8		%

Principal Payments Of Debt

Scheduled principal payments on our debt (excluding $104.0 million due under our credit facilities, $21.0 million of certain capital leases, $3.9 million fair value of interest rate contracts, $(3.0) million net premium/(discount) on debt, $4.2 million of non-cash debt-related items, and $72.1 million debt service guaranty liability) are due during the following years (in thousands):



2015 remaining	$	114,054
2016	169,043
2017	141,225
2018	61,567
2019	55,236
2020	236,725
2021	3,687
2022	306,266
2023	303,430
2024	253,589
Thereafter	93,864
Total	$	1,738,686