Interest expense

12 Months Ended

Dec. 31, 2015

Interest expense

Interest expense

Note 3. Interest expense

The following table shows the components of interest for the years ended December 31, 2015, 2014 and 2013:

	Year Ended		Year Ended		Year Ended
	December 31, 2015		December 31, 2014		December 31, 2013
	(dollars in thousands)
Interest on borrowings	$	275,755	$	235,593	$	201,402
Less capitalized interest		(40,118)		(42,775)		(32,659)
Interest		235,637		192,818		168,743
Amortization of discounts and deferred issuance costs		30,507		27,772		23,627
Interest expense	$	266,144	$	220,590	$	192,370