| Schedule of Loans Payable and Other Borrowings |
Loans payable and other borrowings consist of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
As of |
|
|
March 31, 2016 |
|
December 31, 2015 |
Other borrowings, real estate note payable (1)
|
|
$ |
25,734 |
|
|
$ |
23,867 |
|
$500 million unsecured revolving credit facility, maturing July 2019, with interest approximating LIBOR (approximately 0.44% at March 31, 2016) plus 1.75% or Prime (3.50% at March 31, 2016) plus 0.75% |
|
— |
|
|
— |
|
Total |
|
$ |
25,734 |
|
|
$ |
23,867 |
|
|
|
(1) |
Reflects balance of non-recourse notes payable in connection with land purchases, with interest rates ranging from 0% to 6%.
|
Senior and convertible senior notes, net consist of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
As of |
|
|
March 31, 2016 |
|
December 31, 2015 |
4.50% senior notes due 2018 |
|
$ |
175,000 |
|
|
$ |
175,000 |
|
7.15% senior notes due 2020. At March 31, 2016 and December 31, 2015 there was approximately $2,275 and $2,418 in net unamortized premium, respectively |
|
302,275 |
|
|
302,418 |
|
7.00% senior notes due 2022 |
|
300,000 |
|
|
300,000 |
|
6.00% senior notes due 2025 |
|
200,000 |
|
|
200,000 |
|
1.875% convertible senior notes due 2032 (1)
|
|
126,500 |
|
|
126,500 |
|
Net debt issuance costs (2)
|
|
$ |
(10,116 |
) |
|
$ |
(10,745 |
) |
Total |
|
$ |
1,093,659 |
|
|
$ |
1,093,173 |
|
|
|
(1) |
The Convertible Notes may be redeemed by the note-holders on the fifth, tenth and fifteenth anniversary dates of the issuance date of the Convertible Notes (September 18, 2012). |
|
|
(2) |
As discussed in Note 1, the adoption of ASU 2015-03 resulted in a retrospective reclassification of our debt costs from Prepaids, other assets and goodwill to Senior and convertible senior notes, net on our December 31, 2015 balance sheet in the amount of $10.7 million.
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|