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Debt (Tables)
3 Months Ended
Mar. 31, 2016
Debt Disclosure [Abstract]  
Debt Instrument Redemption
The Company had the following senior notes outstanding as of March 31, 2016 and December 31, 2015:
Issue Date
 
March 31, 2016

 
December 31, 2015
 
Interest Rate
 
Maturity Date
 
Issue Price
May 2014
 
$
250,000

 
$
250,000

 
4.40
%
 
June 2024
 
99.883
%
June 2013
 
250,000

 
250,000

 
4.25
%
 
June 2023
 
99.026
%
 
 
500,000

 
500,000

 
 
 
 
 
 
Unamortized discount
 
(1,984
)
 
(2,053
)
 
 
 
 
 
 
Unamortized debt issuance cost
 
(4,281
)
 
(4,421
)
 
 
 
 
 
 
 
 
$
493,735

 
$
493,526

 
 
 
 
 
 
Schedule of Line of Credit Facilities
A summary of the significant terms are as follows:
 

Maturity Date
 
Current
Interest Rate
$400,000 Revolving Credit Facility(1)
August 2019
 
LIBOR + 1.00%
$250,000 Term Loan(2)(4)
August 2020
 
LIBOR + 1.10%
$255,000 Term Loan(3)(4)
January 2021
 
LIBOR + 1.10%
(1)
Maturity date can be extended to August 2020 at the Company's option. The interest rate ranges from LIBOR plus 0.85% to 1.55%. At March 31, 2016, the revolving credit facility had $147,000 outstanding and availability of $253,000, subject to covenant compliance.
(2)
The interest rate ranges from LIBOR plus 0.90% to 1.75%. The Company previously entered into aggregate interest-rate swap agreements to fix the LIBOR component at a weighted-average rate of 1.09% through February 2018 on the $250,000 of outstanding LIBOR-based borrowings.
(3)
The interest rate ranges from LIBOR plus 0.90% to 1.75%. The Company previously entered into aggregate interest-rate swap agreements to fix the LIBOR component at a weighted-average rate of 1.42% through January 2019 on the $255,000 of outstanding LIBOR-based borrowings.
(4)
The aggregate unamortized debt issuance costs for the term loans were $4,670 and $4,924 as of March 31, 2016 and December 31, 2015, respectively.
Schedule of Long-term Debt Instruments
Below is a summary of additional disclosures related to the 6.00% Convertible Guaranteed Notes due 2030.
 
6.00% Convertible Guaranteed Notes due 2030
Balance Sheets:
March 31, 2016
 
December 31, 2015
Principal amount of debt component
$
12,400

 
$
12,400

Unamortized discount
(167
)
 
(220
)
Unamortized debt issuance costs
(41
)
 
(54
)
Carrying amount of debt component
$
12,192

 
$
12,126

Carrying amount of equity component
$
(34,784
)
 
$
(34,784
)
Effective interest rate
8.1
%
 
7.8
%
Period through which discount is being amortized, put date
01/2017

 
01/2017

Aggregate if-converted value in excess of aggregate principal amount
$
4,295

 
$
2,863

 
Three months ended March 31,
Statements of Operations:
2016
 
2015
6.00% Convertible Guaranteed Notes
 
 
 
Coupon interest
$
186

 
$
236

Discount amortization
53

 
67

 
$
239

 
$
303

The Company had the following mortgages and notes payable outstanding as of March 31, 2016 and December 31, 2015:
 
March 31, 2016
 
December 31, 2015
Mortgages and notes payable
$
933,430

 
$
882,952

Unamortized debt issuance costs
(11,110
)
 
(10,309
)
 
$
922,320

 
$
872,643