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Corporate Indebtedness (Tables)
12 Months Ended
Dec. 31, 2016
Debt Disclosure [Abstract]  
Schedule of senior unsecured notes and other related disclosures by scheduled maturity date
The following table sets forth our senior unsecured notes and other related disclosures as of December 31, 2016 and 2015, respectively, by scheduled maturity date (dollars in thousands):
Issuance
 
December 31,
2016
Unpaid
Principal
Balance
 
December 31,
2016
Accreted
Balance
 
December 31,
2015
Accreted
Balance
 
Coupon
Rate (1)
 
Effective
Rate
 
Term
(in Years)
 
Maturity Date
October 12, 2010 (2)
 
$
345,000

 
$
334,077

 
$
321,130

 
3.00
%
 
3.00
%
 
7
 
October 2017
August 5, 2011 (3)
 
250,000

 
249,880

 
249,810

 
5.00
%
 
5.00
%
 
7
 
August 2018
March 16, 2010 (3)
 
250,000

 
250,000

 
250,000

 
7.75
%
 
7.75
%
 
10
 
March 2020
November 15, 2012 (3)
 
200,000

 
200,000

 
200,000

 
4.50
%
 
4.50
%
 
10
 
December 2022
December 17, 2015 (3)
 
100,000

 
100,000

 
100,000

 
4.27
%
 
4.27
%
 
10
 
December 2025
March 26, 2007 (4)
 

 

 
10,008

 
 
 
 
 
 
 
 
March 31, 2006 (5)
 

 

 
255,296

 
 
 
 
 
 
 
 
 
 
$
1,145,000

 
$
1,133,957

 
$
1,386,244

 
 
 
 
 
 
 
 
Deferred financing costs, net
 
 
 
(5,642
)
 
(7,280
)
 
 
 
 
 
 
 
 
 
 
$
1,145,000

 
$
1,128,315

 
$
1,378,964

 
 
 
 
 
 
 
 
____________________________________________________________________
(1)
Interest on the senior unsecured notes is payable semi-annually with principal and unpaid interest due on the scheduled maturity dates.
(2)
Issued by the Operating Partnership. Interest on these exchangeable notes is payable semi-annually on April 15 and October 15. The notes had an initial exchange rate representing an exchange price that was set at a 30.0% premium to the last reported sale price of SL Green's common stock on October 6, 2010, or $85.81. The initial exchange rate is subject to adjustment under certain circumstances. The current exchange rate is 12.6478 shares of SL Green's common stock per $1,000 principal amount of these notes. The notes are senior unsecured obligations of the Operating Partnership and are exchangeable upon the occurrence of specified events and during the period beginning on the twenty-second scheduled trading day prior to the maturity date and ending on the second business day prior to the maturity date, into cash or a combination of cash and shares of SL Green's common stock, if any, at our option. As a result of meeting specified events (as defined in the Indenture Agreement), these notes became exchangeable commencing January 1, 2016 and will remain exchangeable through March 31, 2016. The notes are guaranteed by ROP. On the issuance date, $78.3 million of the debt balance was recorded in equity. As of December 31, 2016$10.9 million remained to be amortized into the debt balance.
(3)
Issued by the Company, the Operating Partnership and ROP, as co-obligors.
(4)
Balance was repaid in September 2016.
(5)
Issued by ROP, balance was repaid in March 2016.
Schedule of combined aggregate principal maturities
Combined aggregate principal maturities of mortgages and other loans payable, 2012 credit facility, trust preferred securities, senior unsecured notes and our share of joint venture debt as of December 31, 2016, including as-of-right extension options and put options, were as follows (in thousands):
 
Scheduled
Amortization
 
Principal
 
Revolving
Credit
Facility
 
Unsecured Term Loan
 
Trust
Preferred
Securities
 
Senior
Unsecured
Notes
 
Total
 
Joint
Venture
Debt
2017
$
51,531

 
$
930,329

 
$

 
$

 
$

 
$
345,000

 
$
1,326,860

 
$
574,327

2018
54,371

 
299,555

 

 

 

 
250,000

 
603,926

 
48,253

2019
58,916

 

 

 
1,183,000

 

 

 
1,241,916

 
555,545

2020
40,700

 
679,531

 

 

 

 
250,000

 
970,231

 
31,183

2021
29,666

 
64,030

 

 

 

 

 
93,696

 
222,452

Thereafter
86,275

 
1,845,808

 

 

 
100,000

 
300,000

 
2,332,083

 
1,311,022

 
$
321,459

 
$
3,819,253

 
$

 
$
1,183,000

 
$
100,000

 
$
1,145,000

 
$
6,568,712

 
$
2,742,782



Schedule of consolidated interest expense, excluding capitalized interest
Consolidated interest expense, excluding capitalized interest, was comprised of the following (in thousands):
 
Year Ended December 31,
 
2016
 
2015
 
2014
Interest expense before capitalized interest
$
348,062

 
$
357,926

 
$
342,648

Interest capitalized
(24,067
)
 
(31,108
)
 
(22,750
)
Interest income
(2,796
)
 
(2,948
)
 
(2,498
)
Interest expense, net
$
321,199

 
$
323,870

 
$
317,400