Notes Payable, Collateralized and Short-Term Borrowings (Tables)

3 Months Ended

Mar. 31, 2017

Notes Payable, Collateralized and Short-Term Borrowings

Notes payable, collateralized and short-term borrowings consisted of the following (in thousands):

Total	March 31, 2017		December 31, 2016
8.125% Senior Notes	$	109,302	$	109,271
5.375% Senior Notes		297,328		297,083
8.375% Senior Notes		245,875		246,988
5.125% Senior Notes		296,406		296,215
Collateralized borrowings		14,475		16,210
Total	$	963,386	$	965,767

Carrying Amounts and Estimated Fair Values of Company's Senior Notes

The Company’s Convertible Notes and Senior Notes are recorded at amortized cost. As of March 31, 2017 and December 31, 2016, the carrying amounts and estimated fair values of the Company’s Senior Notes were as follows (in thousands):

	March 31, 2017				December 31, 2016
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
8.125% Senior Notes	$	109,302	$	114,795	$	109,271	$	115,650
5.375% Senior Notes		297,328		315,195		297,083		312,000
8.375% Senior Notes		245,875		255,768		246,988		256,650
5.125% Senior Notes		296,406		312,210		296,215		309,300
Total	$	948,911	$	997,968	$	949,557	$	993,600

Summary of Interest Expense Related to Company's Convertible Notes

Below is a summary of the interest expense related to the Company’s Convertible Notes (in thousands):

	4.50% Convertible Notes
	For the three months ended
	March 31, 2017		March 31, 2016
Coupon interest	$	—	$	1,800
Amortization of discount		—		1,225
Total interest expense	$	—	$	3,025