XML 37 R67.htm IDEA: XBRL DOCUMENT v3.2.0.727
Debt Obligations, net (Schedule of Debt) (Details) - USD ($)
$ / shares in Units, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Dec. 31, 2014
Jun. 10, 2014
Debt Instrument [Line Items]            
Total debt obligations $ 4,160,796   $ 4,160,796   $ 4,034,349  
Debt discounts, net (9,143)   (9,143)   (11,665)  
Total debt obligations, net(6) 4,151,653   4,151,653   4,022,684  
Interest Costs Capitalized 1,200 $ 1,000 2,600 $ 1,900    
2012 Tranche A-2 Facility            
Debt Instrument [Line Items]            
Total debt obligations [1] $ 345,048   $ 345,048   358,504  
Stated Interest Rates 7.00%   7.00%      
Variable interest rate, spread 5.75% [1]   5.75%      
Variable interest rate, basis [1]     LIBOR      
2015 Revolving Credit Facility            
Debt Instrument [Line Items]            
Total debt obligations [2] $ 250,000   $ 250,000   0  
Term loans collateralized by net lease assets            
Debt Instrument [Line Items]            
Total debt obligations [3] $ 244,623   $ 244,623   248,955  
Weighted average interest rate 5.30%   5.30%      
Stated interest rate, minimum [3]     4.851%      
Stated interest rate, maximum [3] 7.26%          
Total secured credit facilities and term loans            
Debt Instrument [Line Items]            
Total debt obligations $ 839,671   $ 839,671   607,459  
6.05% senior notes            
Debt Instrument [Line Items]            
Total debt obligations $ 0   $ 0   105,765  
Stated Interest Rates 6.05%   6.05%      
5.875% senior notes            
Debt Instrument [Line Items]            
Total debt obligations $ 261,403   $ 261,403   261,403  
Stated Interest Rates 5.875%   5.875%      
3.875% senior notes            
Debt Instrument [Line Items]            
Total debt obligations $ 265,000   $ 265,000   265,000  
Stated Interest Rates 3.875%   3.875%      
3.0% senior convertible notes            
Debt Instrument [Line Items]            
Total debt obligations [4] $ 200,000   $ 200,000   200,000  
Stated Interest Rates [4] 3.00%   3.00%      
Convertible debt conversion ratio 0.085          
Convertible debt conversion price $ 11.77   $ 11.77      
1.50% senior convertible notes            
Debt Instrument [Line Items]            
Total debt obligations [5] $ 200,000   $ 200,000   200,000  
Stated Interest Rates [5] 1.50%   1.50%      
Convertible debt conversion ratio 0.0578          
Convertible debt conversion price $ 17.29   $ 17.29      
5.85% senior notes            
Debt Instrument [Line Items]            
Total debt obligations $ 99,722   $ 99,722   99,722  
Stated Interest Rates 5.85%   5.85%      
9.0% senior notes            
Debt Instrument [Line Items]            
Total debt obligations $ 275,000   $ 275,000   275,000  
Stated Interest Rates 9.00%   9.00%      
4.00% senior notes            
Debt Instrument [Line Items]            
Total debt obligations $ 550,000   $ 550,000   550,000  
Stated Interest Rates 4.00%   4.00%     4.00%
7.125% senior notes            
Debt Instrument [Line Items]            
Total debt obligations $ 300,000   $ 300,000   300,000  
Stated Interest Rates 7.125%   7.125%      
4.875% senior notes            
Debt Instrument [Line Items]            
Total debt obligations $ 300,000   $ 300,000   300,000  
Stated Interest Rates 4.875%   4.875%      
5.00% senior notes            
Debt Instrument [Line Items]            
Total debt obligations $ 770,000   $ 770,000   770,000  
Stated Interest Rates 5.00%   5.00%     5.00%
Unsecured Notes            
Debt Instrument [Line Items]            
Total debt obligations $ 3,221,125   $ 3,221,125   3,326,890  
Other debt obligations            
Debt Instrument [Line Items]            
Total debt obligations $ 100,000   $ 100,000   $ 100,000  
Variable interest rate, spread 1.50%          
Variable interest rate, basis     LIBOR      
Minimum | 2012 Tranche A-2 Facility            
Debt Instrument [Line Items]            
Variable interest rate, spread 1.25%          
Property One | London Interbank Offered Rate (LIBOR) | Term loans collateralized by net lease assets            
Debt Instrument [Line Items]            
Variable interest rate, spread     2.00%      
Base Rate [Member] | London Interbank Offered Rate (LIBOR) | 2015 Revolving Credit Facility            
Debt Instrument [Line Items]            
Variable interest rate, spread     1.00%      
Base Rate [Member] | Federal Funds Effective Swap Rate [Member] | 2015 Revolving Credit Facility            
Debt Instrument [Line Items]            
Variable interest rate, spread     0.50%      
Base Rate [Member] | Minimum | 2015 Revolving Credit Facility            
Debt Instrument [Line Items]            
Debt instrument, margin     1.25%      
Base Rate [Member] | Maximum [Member] | 2015 Revolving Credit Facility            
Debt Instrument [Line Items]            
Debt instrument, margin     1.75%      
London Interbank Offered Rate (LIBOR) | Minimum | 2015 Revolving Credit Facility            
Debt Instrument [Line Items]            
Debt instrument, margin     2.25%      
London Interbank Offered Rate (LIBOR) | Maximum [Member] | 2015 Revolving Credit Facility            
Debt Instrument [Line Items]            
Debt instrument, margin     2.75%      
[1] The loan has a LIBOR floor of 1.25%. As of June 30, 2015, inclusive of the floor, the 2012 Tranche A-2 Facility loan incurred interest at a rate of 7.00%.
[2] The loan bears interest at the Company's election of either (i) a base rate, which is the greater of (a) prime, (b) federal funds plus 0.5% or (c) LIBOR plus 1.00% and subject to a margin ranging from 1.25% to 1.75%, or (ii) LIBOR subject to a margin ranging from 2.25% to 2.75%. At maturity, the Company may convert outstanding borrowings to a one year term loan which matures in quarterly installments through March 2019.
[3] As of June 30, 2015 and December 31, 2014, includes a loan with a floating rate of LIBOR plus 2.00%. As of June 30, 2015, the weighted average interest rate of these loans is 5.3%.
[4] The Company's 3.0% senior convertible fixed rate notes due November 2016 ("3.0% Convertible Notes") are convertible at the option of the holders, into 85.0 shares per $1,000 principal amount of 3.0% Convertible Notes, at $11.77 per share at any time prior to the close of business on November 14, 2016.
[5] The Company's 1.50% senior convertible fixed rate notes due November 2016 ("1.50% Convertible Notes") are convertible at the option of the holders, into 57.8 shares per $1,000 principal amount of 1.50% Convertible Notes, at $17.29 per share at any time prior to the close of business on November 14, 2016.