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v3.3.1.900

Debt (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2015
Debt [Abstract] |
Schedule of debt | Long-term debt and capital and financing lease obligations consist of the following (dollars in thousands):
|  | December 31, |
|  | 2015 |  |  | 2014 |
Mortgage notes payable due 2016 through 2047; weighted average interest rate of 4.51% in 2015, including net debt premium and deferred financing costs of $3.3 million in 2015 and including net debt premium and deferred financing costs of $42.9 million in 2014 (weighted average interest rate of 4.84% in 2014) |  | $ | 3,246,513 |  |  | $ | 3,088,752 |
Capital and financing lease obligations payable through 2031; weighted average interest rate of 8.11% in 2015 (weighted average interest rate of 8.57% in 2014) |  |  | 2,489,588 |  |  |  | 2,649,226 |
Convertible notes payable in aggregate principal amount of $316.3 million, less debt discount and deferred financing costs of $34.3 million and $46.9 million in 2015 and 2014, respectively, interest at 2.75% per annum, due June 2018 |  |  | 281,902 |  |  |  | 269,300 |
Construction financing due 2017 through 2019; weighted average interest rate of 4.84% in 2015 (weighted average interest rate of 4.90% in 2014) |  |  | 24,105 |  |  |  | 50,118 |
Notes payable issued to finance insurance premiums (weighted average interest rate of 2.82% in 2014) |  |  | — |  |  |  | 22,586 |
Other notes payable, weighted average interest rate of 5.16% in 2015 (weighted average interest rate of 4.75% in 2014) and maturity dates ranging from 2016 to 2020 |  |  | 80,305 |  |  |  | 66,271 |
Total debt and capital and financing lease obligations |  |  | 6,122,413 |  |  |  | 6,146,253 |
Less current portion |  |  | 235,604 |  |  |  | 268,399 |
Total long-term debt and capital and financing lease obligations |  | $ | 5,886,809 |  |  | $ | 5,877,854 |
As of December 31, 2015, the current portion of long-term debt within the Company's consolidated financial statements includes $60.8 million of mortgage notes payable secured by assets held for sale. This debt will either be assumed by the prospective purchasers or be repaid with the proceeds from the sales. Refer to Note 4 for more information about the Company's assets held for sale.
Annual aggregate scheduled maturities of long-term debt obligations outstanding | The annual aggregate scheduled maturities of long-term debt and capital and financing lease obligations outstanding as of December 31, 2015 are as follows (dollars in thousands):
Year Ending December 31, |  | Long-term Debt |  |  | Capital and Financing Lease Obligations |  |  | Total Debt |
2016 |  | $ | 180,423 |  |  | $ | 237,810 |  |  | $ | 418,233 |
2017 |  |  | 308,023 |  |  |  | 263,671 |  |  |  | 571,694 |
2018 |  |  | 1,179,702 |  |  |  | 282,951 |  |  |  | 1,462,653 |
2019 |  |  | 143,473 |  |  |  | 262,800 |  |  |  | 406,273 |
2020 |  |  | 490,605 |  |  |  | 207,594 |  |  |  | 698,199 |
Thereafter |  |  | 1,361,903 |  |  |  | 3,629,265 |  |  |  | 4,991,168 |
Total obligations |  |  | 3,664,129 |  |  |  | 4,884,091 |  |  |  | 8,548,220 |
Less amount representing debt discount and deferred financing costs, net |  |  | (31,304 | ) |  |  | — |  |  |  | (31,304 | )
Less amount representing interest (weighted average interest rate of 8.11%) |  |  | — |  |  |  | (2,394,503 | ) |  |  | (2,394,503 | )
Total |  | $ | 3,632,825 |  |  | $ | 2,489,588 |  |  | $ | 6,122,413 |
Interest expense associated with the convertible notes | The interest expense associated with the Notes (excluding amortization of the associated deferred financing costs) was as follows (dollars in thousands):
| For the Years Ended December 31, |
| 2015 |  | 2014 |  |  | 2013 |
Coupon interest |  | $ | 8,697 |  |  | $ | 8,697 |  |  | $ | 8,697 |
Amortization of discount |  |  | 11,732 |  |  |  | 10,902 |  |  |  | 10,131 |
Interest expense related to convertible notes |  | $ | 20,429 |  |  | $ | 19,599 |  |  | $ | 18,828 |
Summary of swap and cap instruments |
Current notional balance |  | $ | 983,281 |
Weighted average fixed cap rate |  |  | 4.34 | %
Earliest maturity date |  |  | 2016 |
Latest maturity date |  |  | 2018 |
Estimated asset fair value (included in other assets, net at December 31, 2015) |  | $ | 29 |
Estimated asset fair value (included in other assets, net at December 31, 2014) |  | $ | 763 |

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