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Debt (Tables)
 12 Months Ended
Dec. 31, 2019
Debt Disclosure [Abstract]  
Schedule of senior unsecured notes
The following table summarizes the Company’s senior unsecured notes issuances during the year ended December 31, 2019 (dollars in thousands):
Date
 
Amount
 
Coupon Rate
 
Maturity Date
November 21, 2019
 
$
750,000

 
3.000
%
 
2030
July 5, 2019
 
$
650,000

 
3.250
%
 
2026
July 5, 2019
 
$
650,000

 
3.500
%
 
2029
There were no senior unsecured notes issuances for the years ended December 31, 2018 and 2017.
Summary of senior unsecured notes payoffs (dollars in thousands)
The following table summarizes the Company’s senior unsecured notes payoffs for the periods presented (dollars in thousands):
Date
 
Amount
 
Coupon Rate
 
Maturity Date
Year ended December 31, 2019:
 
 
 
 
 
 
November 21, 2019(1)
 
$
350,000

 
4.000
%
 
2022
July 22, 2019(2)
 
$
800,000

 
2.625
%
 
2020
July 8, 2019(2)
 
$
250,000

 
4.000
%
 
2022
July 8, 2019(2)
 
$
250,000

 
4.250
%
 
2023
Year ended December 31, 2018:
 
 
 
 

 
 
November 8, 2018
 
$
450,000

 
3.750
%
 
2019
July 16, 2018(3)
 
$
700,000

    
5.375
%
 
2021
Year ended December 31, 2017:
 
 
 
 
 
 
July 27, 2017(4)
 
$
500,000

 
5.375
%
 
2021
May 1, 2017
 
$
250,000

 
5.625
%
 
2017

_______________________________________
(1)
The Company recognized a $22 million loss on debt extinguishment related to the repurchase of senior notes.
(2)
Upon completing the redemption of the 2.625% senior unsecured notes due February 2020 and repurchasing a portion of the 4.250% senior unsecured notes due 2023 and the 4.000% senior unsecured notes due 2022, the Company recognized a $35 million loss on debt extinguishment.
(3)
The Company recognized a $44 million loss on debt extinguishment related to the repurchase of senior notes.
(4)
The Company recognized a $54 million loss on debt extinguishment related to the repurchase of senior notes.
Summary of stated debt maturities and scheduled principal repayments (in thousands)
The following table summarizes the Company’s stated debt maturities and scheduled principal repayments at December 31, 2019 (dollars in thousands):
 
 
 
 
 
 
 
 
Senior Unsecured Notes(1)
 
Mortgage Debt(2)
 
 
Year
 
Bank Line of Credit
 
Commercial Paper
 
Term Loan
 
Amount
 
Interest Rate
 
Amount
 
Interest Rate
 
Total(3)
2020
 
$
—

 
$
93,000

 
$
—

 
$
—

 
—
%
 
$
4,132

 
5.08
%
 
$
97,132

2021
 
—

 
—

 
—

 
—

 
—
%
 
11,821

 
5.26
%
 
11,821

2022
 
—

 
—

 
—

 
300,000

 
3.37
%
 
3,886

 
—
%
 
303,886

2023
 
—

 
—

 
—

 
550,000

 
4.37
%
 
4,069

 
—
%
 
554,069

2024
 
—

 
—

 
250,000

 
1,150,000

 
4.17
%
 
4,247

 
—
%
 
1,404,247

Thereafter
 
—

 
—

 
—

 
3,700,000

 
3.86
%
 
236,089

 
4.09
%
 
3,936,089

 
 
—

 
93,000

 
250,000

 
5,700,000

 
 
 
264,244

 
 
 
6,307,244

(Discounts), premium and debt costs, net
 
—

 
—

 
(1,058
)
 
(52,007
)
 
 
 
12,663

 
 
 
(40,402
)
 
 
—

 
93,000

 
248,942

 
5,647,993

 
 
 
276,907

 
 
 
6,266,842

Debt on assets held for sale(4)
 
—

 
—

 
—

 
—

 
 
 
32,289

 
 
 
32,289

 
 
$
—

 
$
93,000

 
$
248,942

 
$
5,647,993

 


 
$
309,196

 


 
$
6,299,131

_______________________________________
(1)
Effective interest rates on the senior notes range from 3.14% to 6.87% with a weighted average effective interest rate of 3.94% and a weighted average maturity of seven years.
(2)
Excluding mortgage debt on assets held for sale, effective interest rates on the mortgage debt range from 2.22% to 5.91% with a weighted average effective interest rate of 4.09% and a weighted average maturity of 13 years.
(3)
Excludes $85 million of other debt that has no scheduled maturities. Other debt represents (i) $52 million of non-interest bearing life care bonds and occupancy fee deposits at certain of the Company's senior housing facilities and (ii) $33 million of on-demand notes from the CCRC JV which bear interest at a rate of 3.6%.
(4)
Represents mortgage debt on assets held for sale with interest rates that ranged from 3.45% to 6.80% and matures in 2026, 2028, and 2044.