Debt Facilities (Tables)

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Summary of Debt

The Company’s mortgage and loans payable consisted of the following as of December 31 (in thousands):

	2015			2014
Term loan A	$	456,740		$	500,000
Bridge term loan	386,547			—
Revolving credit facility borrowings	325,622			—
Brazil financings	27,113			56,863
Mortgage payable and other loans payable	47,677			36,608
	1,243,699			593,471
Less the amount representing debt discount and debt issuance cost	(2,681		)	(3,477		)
Add the amount representing mortgage premium	1,987			2,281
	1,243,005			592,275
Less current portion	(770,236		)	(59,466		)
	$	472,769		$	532,809

The Company’s senior notes consisted of the following as of December 31 (in thousands):

	2015			2014
5.375% Senior Notes due 2023	$	1,000,000		$	1,000,000
5.375% Senior Notes due 2022	750,000			750,000
4.875% Senior Notes due 2020	500,000			500,000
5.75% Senior Notes due 2025	500,000			500,000
5.875% Senior Notes due 2026	1,100,000			—
	3,850,000			2,750,000
Less amount representing debt issuance cost	(45,366		)	(32,954		)
	$	3,804,634		$	2,717,046

Schedule of Convertible Debt

The 4.75% Convertible Subordinated Notes consisted of the following as of December 31 (in thousands):

	2015			2014
Equity component (1)	$	42,091		$	44,278
Liability component:
Principal	$	150,082		$	157,885
Less debt discount and debt issuance costs, net (2)	(3,961		)	(12,656		)
Net carrying amount	$	146,121		$	145,229

__________________________

(1)Included in the consolidated balance sheets within additional paid-in capital.

(2)Included in the consolidated balance sheets within convertible debt and is amortized over the remaining life of the 4.75% Convertible Subordinated Notes.

The Company’s convertible debt consisted of the following as of December 31 (in thousands):

	2015			2014
4.75% Convertible Subordinated Notes	$	150,082		$	157,885
Less amount representing debt discount and debt issuance cost	(3,961		)	(12,656		)
	$	146,121		$	145,229

Schedule of Interest Charges Incurred

he following table sets forth total interest costs incurred and total interest costs capitalized for the years ended December 31 (in thousands):

	2015		2014		2013
Interest expense	$	299,055	$	270,553	$	248,792
Interest capitalized	10,943		19,004		10,608
Interest charges incurred	$	309,998	$	289,557	$	259,400

The following table sets forth total interest expense recognized related to the 4.75% Convertible Subordinated Notes for the years ended December 31 (in thousands):

	2015			2014
Contractual interest expense	$	7,501		$	10,976
Amortization of debt issuance costs	428			629
Amortization of debt discount	8,060			10,448
	$	15,989		$	22,053
Effective interest rate of the liability component	10.65		%	10.88		%

Summary of Senior Notes Redemption Price Percentage

On or after April 1, 2017, the Company may redeem all or a part of the 2020 Senior Notes, on any one or more occasions, at the redemption prices (expressed as percentages of principal amount) set forth below plus accrued and unpaid interest thereon, if any, to, but not including, the applicable redemption date, if redeemed during the twelve-month period beginning on April 1 of the years indicated below:

	Redemption Price of  the 2020 Senior Notes
2017	102.438	%
2018	101.219	%
2019 and thereafter	100.000	%

On or after January 1, 2018, the Company may redeem all or a part of the 2022 Senior Notes, on any one or more occasions, at the redemption prices (expressed as percentages of principal amount) set forth below plus accrued and unpaid interest thereon, if any, to, but not including, the applicable redemption date, if redeemed during the twelve-month period beginning January 1 of the years indicated below:

	Redemption Price of the 2022 Notes
2018	104.031	%
2019	102.688	%
2020	101.344	%
2021 and thereafter	100.000	%

On or after January 15, 2021, the Company may redeem all or a part of the 2026 Senior Notes, on any one or more occasions, at the redemption prices (expressed as percentages of principal amount) set forth below plus accrued and unpaid interest thereon, if any, to, but not including, the applicable redemption date, if redeemed during the twelve-month period beginning January 15 of the years indicated below:

	Redemption Price of the 2026 Notes
2021	102.938	%
2022	101.958	%
2023	100.979	%
2024 and thereafter	100.000	%

n or after April 1, 2018, the Company may redeem all or a part of the 2023 Senior Notes, on any one or more occasions, at the redemption prices (expressed as percentages of principal amount) set forth below plus accrued and unpaid interest thereon, if any, to, but not including, the applicable redemption date, if redeemed during the twelve-month period beginning on April 1 of the years indicated below:

	Redemption Price of the 2023 Senior Notes
2018	102.688	%
2019	101.792	%
2020 and thereafter	100.896	%
2021 and thereafter	100.000	%

On or afterJanuary 1, 2020, the Company may redeem all or a part of the 2025 Senior Notes, on any one or more occasions, at the redemption prices (expressed as percentages of principal amount) set forth below plus accrued and unpaid interest thereon, if any, to, but not including, the applicable redemption date, if redeemed during the twelve-month period beginning January 1 of the years indicated below:

	Redemption Price  of the 2025 Notes
2020	102.875	%
2021	101.917	%
2022	100.958	%
2023 and thereafter	100.000	%

Summary of Maturities of Debt Facilities

The following table sets forth maturities of the Company’s debt, including loans payable, convertible debt and senior notes, gross of debt issuance costs and discounts, as of December 31, 2015 (in thousands):

Year ending:
2016	$	920,125
2017	51,048
2018	47,615
2019	339,329
2020	503,224
Thereafter	3,384,427
	$	5,245,768

Fair Value of Debt Facilities

The following table sets forth the estimated fair values of the Company’s mortgage, loans payable, convertible debt, senior notes and revolving credit line, including current maturities, as of December 31 (in thousands):

	2015		2014
Mortgage and loans payable	$	916,602	$	553,045
Convertible debt	151,997		162,159
Senior notes	3,954,000		2,790,023
Revolving credit line	325,617		—