XML 43 R53.htm IDEA: XBRL DOCUMENT v2.4.0.8
Debt (Details) (USD $)
12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 3 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 0 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2013
Mortgages Payable [Member]
Dec. 31, 2012
Mortgages Payable [Member]
Dec. 31, 2012
$150 Million Series A Notes Payable [Member]
Community
Dec. 31, 2013
$150 Million Series A Notes Payable [Member]
Dec. 31, 2012
Discount Mortgage Note payable due June 2013 [Member]
Dec. 31, 2013
Discount Mortgage Note payable due June 2013 [Member]
Dec. 31, 2012
Variable Rate Tax Exempt Bonds [Member]
Dec. 31, 2013
Variable Rate Tax Exempt Bonds [Member]
Dec. 31, 2013
Capital Lease Obligations [Member]
Dec. 31, 2012
Capital Lease Obligations [Member]
Jun. 30, 2011
Convertible Debt [Member]
Dollarsperunit
Dec. 31, 2013
Convertible Debt [Member]
Dec. 31, 2012
Convertible Debt [Member]
Dec. 31, 2011
Convertible Debt [Member]
Dec. 31, 2013
Construction Financing [Member]
Dec. 31, 2012
Construction Financing [Member]
Dec. 31, 2013
Notes Payable, Insurance Premiums [Member]
Dec. 31, 2012
Notes Payable, Insurance Premiums [Member]
Dec. 31, 2013
Long-term Debt [Member]
Dec. 31, 2012
First Mortgage Loan Issued in January 2012 [Member]
Jan. 05, 2012
First Mortgage Loan Issued in January 2012 [Member]
Dec. 31, 2012
First Mortgage Loan Issued in February 2012 [Member]
Feb. 29, 2012
First Mortgage Loan Issued in February 2012 [Member]
Dec. 31, 2012
Mortgage Loan Issued to Finance Acquisition [Member]
Feb. 02, 2012
Mortgage Loan Issued to Finance Acquisition [Member]
Dec. 31, 2012
First Mortgage Loan Issued in June 2012 [Member]
Community
Jun. 29, 2012
First Mortgage Loan Issued in June 2012 [Member]
Dec. 28, 2012
First Mortgage Loan Issued in December 2012 [Member]
Dec. 31, 2012
First Mortgage Loan Issued in December 2012 [Member]
Community
Dec. 31, 2012
Seller - Financed Debt [Member]
Feb. 02, 2012
Seller - Financed Debt [Member]
Dec. 31, 2013
First Mortgage Loan Issued on April 3, 2013 [Member]
Community
Dec. 31, 2013
First Mortgage Loan Issued on April 12, 2013 [Member]
Community
Dec. 31, 2013
First Mortgage Loan Issued on April 22, 2013 [Member]
Community
Dec. 31, 2013
First Mortgage Loan Issued on May 30, 2013 [Member]
Community
Dec. 31, 2013
First Mortgage Loan Issued on August 1, 2013 [Member]
Community
Dec. 31, 2013
First Mortgage Loan Issued on August 1, 2013 [Member]
Minimum [Member]
Dec. 31, 2013
First Mortgage Loan Issued on August 1, 2013 [Member]
Maximum [Member]
Dec. 31, 2013
Loans Maturing in August 2020 [Member]
Dec. 31, 2013
Loans Maturing in August 2023 [Member]
Dec. 31, 2013
First Mortgage Loan Financing Acquisition [Member]
Dec. 31, 2013
First Mortgage Loan Assumed in Acquisition [Member]
Dec. 31, 2013
First Mortgage Loan Issued On October 1 2013 [Member]
Community
Dec. 31, 2013
First Mortgage Loan Issued On December 18 2013 [Member]
Community
Dec. 31, 2013
First Mortgage Loan Issued On December 20 2013 [Member]
Community
Debt Instrument [Line Items]                                                                                                
Debt $ 2,606,578,000 $ 2,599,369,000   $ 2,037,649,000 $ 1,701,515,000 $ 144,384,000 $ 0 $ 80,533,000 $ 0 $ 99,847,000 $ 0 $ 299,824,000 $ 319,745,000   $ 261,443,000 $ 251,312,000   $ 4,476,000 $ 1,280,000 $ 3,186,000 $ 753,000 $ 2,306,754,000                                                    
Less current portion 201,954,000 509,543,000                                                                                            
Long-term debt 2,404,624,000 2,089,826,000                                                                                            
Maturity date           Aug. 31, 2013   Jun. 30, 2013   Dec. 31, 2032   Dec. 31, 2026     Jun. 30, 2018         Dec. 31, 2014     Jan. 31, 2017   Feb. 28, 2017       Jun. 30, 2017           Apr. 30, 2018 May 31, 2023 Apr. 30, 2018         Aug. 31, 2020 Aug. 31, 2023   May 31, 2017   Dec. 31, 2018 Jan. 31, 2019
Maturity date, start       Dec. 31, 2014                           Dec. 31, 2017                                                            
Maturity date, end       Dec. 31, 2023                           Dec. 31, 2027                                                            
Weighted average interest rate       4.12% 4.62%     2.56%   1.65%   8.14% 8.16%   2.75% 2.75% 2.75% 6.22% 8.00% 2.65% 2.81%                                               5.75% 5.32% 4.50% 4.35%
Unamortized debt premium       1,300,000                                                                                        
Unamortized debt discount (53,528,000)       300,000     1,000,000       0     54,800,000 65,000,000           (53,528,000)                                                    
Number of communities securing debt (in number of communities)           5                                             2     9     1 23 2 8 4             1 2 2
Amount of cash collateral securing debt           3,000,000                                                                                    
Description of variable rate basis           LIBOR plus 0.88%                                 variable rate equal to 30-day LIBOR plus a margin of 300 basis points   variable rate equal to 30-day LIBOR plus a margin of 275 basis points       bears interest at a variable rate equal to 30-day LIBOR plus a margin of 425 basis points     variable rate equal to 30-day LIBOR plus a margin of 259 basis points     variable rate equal to 30-day LIBOR plus a margin of 275 basis points variable rate equal to 30-day LIBOR plus a margin of 246 basis points variable rate equal to 30-day LIBOR plus a margin of 275 basis points variable rate equal to 30-day LIBOR plus a margin of 289 basis points variable rate equal to 30-day LIBOR plus a margin ranging from 226 to 288 basis points                  
Basis spread on variable rate basis           0.88%                                   3.00%   2.75%       4.25% 2.59%       0.275% 0.246% 0.275% 0.289%   0.226% 0.288%              
Principal           150,000,000                 316,300,000   316,300,000             63,000,000   20,000,000   77,900,000   15,000,000 171,300,000     15,000,000 25,000,000 259,000,000 28,000,000 84,100,000 172,100,000     75,000,000 97,100,000 60,800,000 52,700,000 8,100,000 14,000,000 25,000,000
Current Portion of Mortgage Loans with Extension Options 140,000,000                                                                                              
Maximum term of debt extension 1 year                                                                                              
Net proceeds from issuance                           308,200,000                                                                    
Initial conversion rate (in shares per $1,000 of principal)                           34.1006                                                                    
Equivalent initial conversion price (in dollars per share)                           $ 29.325                                                                    
Conversion terms                           The Notes are convertible at an initial conversion rate of 34.1006 shares of Company common stock per $1,000 principal amount of Notes (equivalent to an initial conversion price of approximately $29.325 per share), subject to adjustment. Holders may convert their Notes at their option prior to the close of business on the second trading day immediately preceding the stated maturity date only under the following circumstances: (i) during any fiscal quarter commencing after the fiscal quarter ending September 30, 2011, if the last reported sale price of the Company's common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the preceding fiscal quarter is greater than or equal to 130% of the applicable conversion price on each applicable trading day; (ii) during the five business day period after any five consecutive trading day period (the "measurement period"), in which the trading price per $1,000 principal amount of notes for each trading day of that measurement period was less than 98% of the product of the last reported sale price of the Company's common stock and the applicable conversion rate on each such day; or (iii) upon the occurrence of specified corporate events. On and after March 15, 2018, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert their Notes at any time, regardless of the foregoing circumstances. Unconverted Notes mature at par in June 2018.                                                                    
Imputed interest rate                           7.50%                                                                    
Expected life of convertible debt                           7 years                                                                    
Coupon interest 121,325,000 128,338,000 124,873,000                       8,697,000 8,697,000 4,759,000                                                              
Amortization of discount                             10,131,000 9,415,000 4,456,000                                                              
Interest expense related to convertible notes                             18,828,000 18,112,000 9,215,000                                                              
Number of shares of common stock covered by hedging transactions (in shares)                           10,784,315                                                                    
Number of warrants to acquire common stock sold to Hedge Counterparties (in shares)                           10,784,315                                                                    
Strike price of warrants (in dollars per share)                           $ 40.25                                                                    
Net cost of hedging transaction                           31,900,000                                                                    
Conversion rate per value of notes                             1,000                                                                  
Number of trading days for pricing                             20 days                                                                  
Number of consecutive trading days                             30 days                                                                  
Percentage minimum of applicable conversion price (in hundredths)                             130.00%                                                                  
Number of consecutive trading days less than 98% of test period                             5 days                                                                  
Applicable percentage rate for five day consecutive trading days (in hundredths)                             98.00%                                                                  
Extinguishment of Debt, Amount                                             62,800,000           15,000,000     37,400,000     29,000,000 275,200,000 35,100,000 100,900,000 142,000,000               14,200,000 30,300,000
Interest rate terms                                                     75% of it bears interest at a fixed rate of 4.2% and the remaining 25% bears interest at a variable rate of 30-day LIBOR plus a margin of 276 basis points           bore interest at a fixed rate of 7.0%                              
Derivative, Remaining Maturity                                                                       5 years   5 years                    
Derivative, Cap Interest Rate                                                                       5.03%   4.68%                    
Term of loan                                                     10 years       10 years   2 years         10 years               7 years    
Number of recently acquired communities securing mortgage notes                                                               8                                
Amortization period (in years)                                                                       30 years     30 years                  
Long-term debt maturity [Abstract]                                                                                                
2014 235,272,000                     56,157,000                   179,115,000                                                    
2015 92,540,000                     54,853,000                   37,687,000                                                    
2016 118,435,000                     47,710,000                   70,725,000                                                    
2017 447,782,000                     75,620,000                   372,162,000                                                    
2018 818,592,000                     35,545,000                   783,047,000                                                    
Thereafter 1,100,118,000                     182,572,000                   917,546,000                                                    
Total obligations 2,812,739,000                     452,457,000                   2,360,282,000                                                    
Unamortized debt discount (53,528,000)       300,000     1,000,000       0     54,800,000 65,000,000           (53,528,000)                                                    
Less amount representing interest (152,633,000)                     (152,633,000)                   0                                                    
Total $ 2,606,578,000 $ 2,599,369,000   $ 2,037,649,000 $ 1,701,515,000 $ 144,384,000 $ 0 $ 80,533,000 $ 0 $ 99,847,000 $ 0 $ 299,824,000 $ 319,745,000   $ 261,443,000 $ 251,312,000   $ 4,476,000 $ 1,280,000 $ 3,186,000 $ 753,000 $ 2,306,754,000