Debt Facilities (Tables)

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Summary of Debt

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

	2017					2016
	Amount			Effective Rate		Amount			Effective Rate
4.875% Senior Notes due 2020	$	—		—		$	500,000		5.07	%
5.375% Senior Notes due 2022	750,000			5.56	%	750,000			5.56	%
5.375% Senior Notes due 2023	1,000,000			5.51	%	1,000,000			5.51	%
5.75% Senior Notes due 2025	500,000			5.88	%	500,000			5.88	%
2.875% Euro Senior Notes due 2025	1,201,000			3.04	%	—			—
5.875% Senior Notes due 2026	1,100,000			6.03	%	1,100,000			6.03	%
2.875% Euro Senior Notes due 2026	1,201,000			3.04	%	—			—
5.375% Senior Notes due 2027	1,250,000			5.51	%	—			—
	7,002,000					3,850,000
Less amount representing debt issuance cost	(78,151		)			(39,230		)
	$	6,923,849				$	3,810,770

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

	2017			2016
Term loans	$	1,417,352		$	1,413,582
Mortgage payable and other loans payable	48,872			44,382
	1,466,224			1,457,964
Less the amount representing debt discount and debt issuance cost	(10,666		)	(22,811		)
Add the amount representing mortgage premium	2,051			1,862
	1,457,609			1,437,015
Less current portion	(64,491		)	(67,928		)
	$	1,393,118		$	1,369,087

Schedule of Interest Charges Incurred

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):

	2016
Contractual interest expense	$	3,267
Amortization of debt issuance costs	186
Amortization of debt discount	3,775
	$	7,228
Effective interest rate of the liability component	10.48		%

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

	2017		2016		2015
Interest expense	$	478,698	$	392,156	$	299,055
Interest capitalized	22,625		13,338		10,943
Interest charges incurred	$	501,323	$	405,494	$	309,998

Optional Redemption Schedule

Senior Note Description	Early Equity Redemption Price	First Scheduled Redemption Date	First Scheduled Redemption Price	Second Year Redemption Price	Third Year Redemption Price	Fourth Year (if scheduled) Redemption Price
5.375% due 2022	105.375%	January 1, 2018	104.031%	102.688%	101.344%	100.000%
5.375% due 2023	105.375%	April 1, 2018	102.688%	101.792%	100.896%	100.000%
5.75% due 2025	105.750%	January 1, 2020	102.875%	101.917%	100.958%	100.000%
2.875% Euro due 2025	102.875%	October 1, 2020	101.438%	100.719%	100.000%
5.875% due 2026	105.875%	January 15, 2021	102.938%	101.958%	100.979%	100.000%
2.875% Euro due 2026	102.875%	February 1, 2021	101.438%	100.719%	100.000%
5.375% due 2027	105.375%	May 15, 2022	102.688%	101.792%	100.896%	100.000%

Summary of Maturities of Debt Facilities

The following table sets forth maturities of the Company’s debt, including mortgage, loans payable, and senior notes, gross of debt issuance costs and debt discounts, as of December 31, 2017 (in thousands):

Years ending:
2018	$	64,472
2019	77,309
2020	77,237
2021	387,762
2022	1,607,402
Thereafter	6,256,093
	$	8,470,275

Fair Value of Debt Facilities

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

	2017		2016
Mortgage and loans payable	$	1,464,877	$	1,461,954
Senior notes	7,288,673		4,033,985