XML 63 R42.htm IDEA: XBRL DOCUMENT v3.25.0.1

Debt Obligations (Tables)

12 Months Ended

Dec. 31, 2024

Debt Obligations

Schedule of interest rate swaps

The following table sets forth information regarding our Interest Rate Swaps at December 31, 2024 and 2023 (dollar amounts in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Notional

​

Fair Value at

​

Date Entered

​

Maturity Date

​

Swap Rate

​

Rate Index

​

​

Amount

​

​

December 31, 2024

​

​

​

December 31, 2023

​

November 2021

​

November 19, 2025

​

2.62

%

​

1-month SOFR

​

$

50,000

​

$

1,305

​

​

$

2,698

​

November 2021

​

November 19, 2026

​

2.76

%

​

1-month SOFR

​

​

50,000

​

​

2,510

​

​

​

3,412

​

​

​

​

​

​

​

​

​

​

$

100,000

​

$

3,815

​

​

$

6,110

​

Schedule of Debt Obligations

The following table sets forth information regarding debt obligations by component as of December 31, 2024 and 2023 (dollar amounts in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

At December 31, 2024

​

At December 31, 2023

​

​

​

Applicable

​

​

​

Available

​

​

​

Available

​

​

​

Interest

​

Outstanding

​

for

​

Outstanding

​

for

​

Debt Obligations

​

Rate (1)

​

Balance

​

Borrowing

​

Balance

​

Borrowing

​

Revolving line of credit (2)

​

6.04%

​

$

144,350

​

$

280,650

​

$

302,250

​

$

97,750

​

Term loans, net of debt issue costs

​

2.59%

​

​

99,808

​

​

—

​

​

99,658

​

​

—

​

Senior unsecured notes, net of debt issue costs (3)

​

4.15%

​

​

440,442

​

​

—

​

​

489,409

​

​

—

​

Total

​

4.32%

​

$

684,600

​

$

280,650

​

$

891,317

​

$

97,750

​

(1) Represents weighted average of interest rate as of December 31, 2024.

​

(2) Subsequent to December 31, 2024, we borrowed $15,000 under our unsecured revolving line of credit. Accordingly, we have $159,350 outstanding and $265,650 available for borrowing under our unsecured revolving line of credit.

​

(3) Subsequent to December 31, 2024, we repaid $7,000 in scheduled principal paydowns on our senior unsecured notes. Accordingly, we have $433,442 outstanding under our senior unsecured notes, net of debt issue costs.

Schedule of borrowings and repayments

Our borrowings and repayments for the years ended December 31, 2024, 2023 and 2022 are as follows (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Year Ended December 31,

​

​

2024

​

2023

​

2022

Debt Obligations

​

​

Borrowings

​

​

Repayments

​

Borrowings

​

Repayments

​

Borrowings

​

Repayments

Revolving line of credit

​

$

27,200

(1)

$

(185,100)

​

$

277,450

​

$

(105,200)

​

$

194,000

​

$

(174,900)

Senior unsecured notes

​

​

—

​

​

(49,160)

(2)

​

—

​

​

(49,160)

​

​

75,000

​

​

(48,160)

Total

​

$

27,200

​

$

(234,260)

​

$

277,450

​

$

(154,360)

​

$

269,000

​

$

(223,060)

(1) Subsequent to December 31, 2024, we borrowed $15,000 under our unsecured revolving line of credit. Accordingly, we have $159,350 outstanding and $265,650 available for borrowing under our unsecured revolving line of credit.

​

(2) Subsequent to December 31, 2024, we repaid $7,000 in scheduled principal paydowns on our senior unsecured notes. Accordingly, we have $433,442 outstanding under our senior unsecured notes, net of debt issue costs.

Schedule of principal payments and amounts due at maturity

The following table represents our long-term contractual obligations (scheduled principal payments and amounts due at maturity) as of December 31, 2024, and excludes the effects of interest and debt issue costs (in thousands):

​

​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	Total		​	2025		​	2026		​	2027		​	2028		​	2029		​	Thereafter
Revolving line of credit	​	$	144,350	(1)	$	—	​	$	144,350	​	$	—	​	$	—	​	$	—	​	$	—	​
Term loans	​	​	100,000	​	​	50,000	​	​	50,000	​	​	—	​	​	—	​	​	—	​	​	—	​
Senior unsecured notes	​		441,500	(2)		49,500	(2)		51,500	​		54,500	​		55,000	​	​	63,000	​		168,000	​
​	​	$	685,850	​	$	99,500	​	$	245,850	​	$	54,500	​	$	55,000	​	$	63,000	​	$	168,000	​

(1) Subsequent to December 31, 2024, we borrowed $15,000 under our unsecured revolving line of credit. Accordingly, we have $159,350 outstanding and $265,650 available for borrowing under our unsecured revolving line of credit.

​

(2) Subsequent to December 31, 2024, we repaid $7,000 in scheduled principal paydowns on our senior unsecure notes. Accordingly, we have $433,442 outstanding under our senior unsecured notes, net of debt issue costs.

X

- Definition

Tabular summary of borrowings and repayments of long term debt.

+ References

No definition available.

+ Details

Name:	ltc_ScheduleOfLongTermDebtBorrowingsAndRepaymentsTableTextBlock
Namespace Prefix:	ltc_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_DebtDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-SubTopic 10
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-3

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477734/942-470-50-3

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-8

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-6

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

+ Details

Name:	us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C

+ Details

Name:	us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of maturity and sinking fund requirement for long-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 470
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-1

+ Details

Name:	us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration