Corporate Debt (Tables)

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Schedule of Corporate Debt

Corporate debt consists of the following (dollars in thousands):

	December 31, 2016				December 31, 2015
	Amortized Cost		Weighted- Average Stated Interest Rate (1)		Amortized Cost		Weighted- Average Stated Interest Rate (1)
2013 Term Loan (unpaid principal balance of $1,416,500 and $1,423,750 at December 31, 2016 and 2015, respectively)	$	1,394,658	4.75	%	$	1,396,884	4.75	%
Senior Notes (unpaid principal balance of $538,662 at December 31, 2016 and 2015, respectively)	529,738		7.875	%	528,337		7.875	%
Convertible Notes (unpaid principal balance of $242,468 and $290,000 at December 31, 2016 and 2015, respectively)	204,604		4.50	%	231,723		4.50	%
Capital leases	—				480
Total corporate debt	$	2,129,000			$	2,157,424

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(1) Represents the weighted-average stated interest rate, which may be different from the effective rate, which considers the amortization of discounts and issuance costs.

Schedule of Contractual Maturities of Corporate Debt

The following table provides the contractual maturities (by unpaid principal balance) of corporate debt at December 31, 2016 (in thousands):

	Corporate Debt
2019	256,218
2020	1,402,750
2021	538,662
Total	$	2,197,630

Schedule of Secured Credit Facilities Term

The terms of the 2013 Secured Credit Facilities are summarized in the table below.

Debt Agreement	Interest Rate	Amortization	Maturity/Expiration
2013 Term Loan	LIBOR plus 3.75% LIBOR floor of 1.00%	1.00% per annum beginning 1st quarter 2014; remainder at final maturity	December 18, 2020
2013 Revolver (1)	LIBOR plus 4.50%(2)	Bullet payment at maturity	December 19, 2018

__________

(1) Under the 2013 Credit Agreement, in order to borrow in excess of 20% of the committed amount under the 2013 Revolver, the Company must satisfy both a specified Interest Coverage Ratio and a specified Total Leverage Ratio on a pro forma basis after giving effect to the borrowing. As of December 31, 2016, the Company did not satisfy both of these ratios, and as a result the maximum amount the Company would have been able to borrow on the 2013 Revolver was $20.0 million, of which $12.2 million remained available after utilization for issued letters of credit.

(2) Represents the rate through and including January 1, 2017. After this date, the rate reverted back to LIBOR plus 3.75%.