XML 20 R50.htm IDEA: XBRL DOCUMENT v2.4.0.6
Debt Obligations, net (Debt Obligations Summary) (Details) (USD $)
6 Months Ended 6 Months Ended 6 Months Ended 6 Months Ended 6 Months Ended 6 Months Ended 3 Months Ended 6 Months Ended 6 Months Ended
Jun. 30, 2012
Dec. 31, 2011
Jun. 30, 2012
Secured 2011 Tranche A-1 Facility Due 2013
Dec. 31, 2011
Secured 2011 Tranche A-1 Facility Due 2013
Jun. 30, 2012
Secured 2011 Tranche A-2 Facility Due 2014
Dec. 31, 2011
Secured 2011 Tranche A-2 Facility Due 2014
Jun. 30, 2012
Secured 2012 Tranche A-1 Facility Due 2016
Dec. 31, 2011
Secured 2012 Tranche A-1 Facility Due 2016
Jun. 30, 2012
Secured 2012 Tranche A-2 Facility Due 2017
Dec. 31, 2011
Secured 2012 Tranche A-2 Facility Due 2017
Jun. 30, 2012
Secured Term Loans Collateralized by net lease assets due through 2026
Dec. 31, 2011
Secured Term Loans Collateralized by net lease assets due through 2026
Jun. 30, 2012
Secured Credit Facility
Dec. 31, 2011
Secured Credit Facility
Jun. 30, 2012
Unsecured Line of credit due June 2012
Dec. 31, 2011
Unsecured Line of credit due June 2012
Jun. 30, 2012
Unsecured Notes 5.15% senior notes
Dec. 31, 2011
Unsecured Notes 5.15% senior notes
Jun. 30, 2012
Unsecured Notes 5.50% senior notes
Dec. 31, 2011
Unsecured Notes 5.50% senior notes
Jun. 30, 2012
Unsecured Notes LIBOR plus 0.50% senior convertible notes
Jun. 30, 2011
Unsecured Notes LIBOR plus 0.50% senior convertible notes
Jun. 30, 2012
Unsecured Notes LIBOR plus 0.50% senior convertible notes
Jun. 30, 2011
Unsecured Notes LIBOR plus 0.50% senior convertible notes
Dec. 31, 2011
Unsecured Notes LIBOR plus 0.50% senior convertible notes
Jun. 30, 2012
Unsecured Notes 8.625% senior notes
Dec. 31, 2011
Unsecured Notes 8.625% senior notes
Jun. 30, 2012
Unsecured Notes 5.95% senior notes
Dec. 31, 2011
Unsecured Notes 5.95% senior notes
Jun. 30, 2012
Unsecured Notes 6.5% senior notes
Dec. 31, 2011
Unsecured Notes 6.5% senior notes
Jun. 30, 2012
Unsecured Notes 5.70% senior notes
Dec. 31, 2011
Unsecured Notes 5.70% senior notes
Jun. 30, 2012
Unsecured Notes 6.05% senior notes
Dec. 31, 2011
Unsecured Notes 6.05% senior notes
Jun. 30, 2012
Unsecured Notes 5.875% senior notes
Dec. 31, 2011
Unsecured Notes 5.875% senior notes
Jun. 30, 2012
Unsecured Notes 5.85% senior notes
Dec. 31, 2011
Unsecured Notes 5.85% senior notes
Jun. 30, 2012
Unsecured Notes 9.0% senior notes
Dec. 31, 2011
Unsecured Notes 9.0% senior notes
Jun. 30, 2012
Unsecured Notes
Dec. 31, 2011
Unsecured Notes
Jun. 30, 2012
Other debt obligations due in October, 2035
Dec. 31, 2011
Other debt obligations due in October, 2035
Mar. 31, 2011
Minimum
Secured 2011 Tranche A-1 Facility Due 2013
Mar. 31, 2011
Minimum
Secured 2011 Tranche A-2 Facility Due 2014
Mar. 31, 2011
Minimum
Secured 2012 Tranche A-1 Facility Due 2016
Jun. 30, 2012
Minimum
Secured 2012 Tranche A-2 Facility Due 2017
Debt Instrument [Line Items]                                                                                                  
Total debt obligations $ 5,661,964,000 [1] $ 5,874,183,000 $ 646,068,000 $ 961,580,000 $ 1,450,000,000 $ 1,450,000,000 $ 328,605,000 $ 0 $ 470,000,000 $ 0 $ 238,425,000 $ 293,192,000 $ 3,133,098,000 $ 2,704,772,000 $ 0 $ 243,650,000 $ 0 $ 263,466,000 $ 0 $ 92,845,000 $ 469,166,000 [2]   $ 469,166,000 [2]   $ 784,750,000 [2] $ 501,701,000 $ 501,701,000 $ 448,453,000 $ 448,453,000 $ 67,055,000 $ 67,055,000 $ 200,601,000 $ 200,601,000 $ 105,765,000 $ 105,765,000 $ 261,403,000 $ 261,403,000 $ 99,722,000 $ 99,722,000 $ 275,000,000 $ 0 $ 2,428,866,000 $ 2,825,761,000 $ 100,000,000 $ 100,000,000        
Stated interest rate (as a percent)                                 5.15%   5.50%             8.625%   5.95%   6.50%   5.70%   6.05%   5.875%   5.85%   9.00%                  
Variable interest rate, spread (as a percent)     3.75% [3]   5.75% [3]   4.00% [4]   5.75% [4]           0.85%           0.50% [2]   0.50% [2]                                         1.50%   1.25% 1.25% 1.25% 1.25%
Variable interest rate, basis     LIBOR [3]   LIBOR [3]   LIBOR [4]   LIBOR [4]           LIBOR               LIBOR [2]                                         LIBOR          
Effective interest rate (as a percent)     5.00%   7.00%   5.25%   7.00%               5.15%       5.50%   5.50%                                                    
Stated interest rate, minimum (as a percent)                     5.05%                                                                            
Stated interest rate, maximum (as a percent)                     7.68%                                                                            
Debt discounts, net (58,025,000) [1],[2] (36,643,000) [2]                                     2,500,000   2,500,000                                                    
Total debt obligations, net 5,603,939,000 [1] 5,837,540,000                                     466,700,000   466,700,000                                                    
Number of shares per $1000 of principal amount of convertible notes                                             22.2                                                    
Principal amount used for debt instrument conversion ratio                                         1,000   1,000                                                    
Conversion price (in dollars per share)                                         $ 45.05   $ 45.05                                                    
Carrying value of the additional paid-in-capital, or equity component of the convertible notes                                         34,700,000   34,700,000                                                    
Interest expense on the convertible notes recognized                                         3,100,000 4,500,000 8,300,000 8,900,000                                                  
Amortization of the debt discount                                         $ 1,800,000 $ 2,900,000 $ 4,800,000 $ 5,700,000                                                  
[1] All of the Company's non-accrual loans are considered impaired and included in the table above. In addition, as of June 30, 2012 and December 31, 2011, certain loans modified through troubled debt restructurings with a recorded investment of $205.5 million and $255.3 million, respectively, are also included as impaired loans in accordance with GAAP although they are performing and on accrual status.
[2] The Company's convertible senior floating rate notes due October 2012 ("Convertible Notes") are convertible at the option of the holders into 22.2 shares per $1,000 principal amount of Convertible Notes (reflecting a conversion price of $45.05), on or after August 15, 2012, or prior to that date if certain conditions are met. None of the conversion conditions have been met as of June 30, 2012. As of June 30, 2012, the unamortized discount on these notes was $2.5 million, the net carrying amount of the liability was $466.7 million and the carrying value of the additional paid-in-capital, or equity component of the convertible notes was $34.7 million. For the three and six months ended June 30, 2012, the Company recognized interest expense on the convertible notes of $3.1 million and $8.3 million, respectively, of which $1.8 million and $4.8 million, respectively, related to the amortization of the debt discount. For the three and six months ended June 30, 2011, the Company recognized interest expense on the convertible notes of $4.5 million and $8.9 million respectively, of which $2.9 million and $5.7 million, respectively, related to the amortization of the debt discount.
[3] These loans each have a LIBOR floor of 1.25%. As of June 30, 2012, inclusive of the floors, the 2011 Tranche A-1 Facility and 2011 Tranche A-2 Facility loans incurred interest at a rate of 5.00% and 7.00%, respectively.
[4] These loans each have a LIBOR floor of 1.25%. As of June 30, 2012, inclusive of the floors, the 2012 Tranche A-1 Facility and 2012 Tranche A-2 Facility loans incurred interest at a rate of 5.25% and 7.00% respectively.