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Financing Activity (Tables)
3 Months Ended
Mar. 31, 2016
Debt Disclosure [Abstract]  
Schedule of credit facility interest expense [Table Text Block]
 
Three Months Ended March 31,
(in thousands of dollars)
2016
 
2015
2013 Revolving Facility
 
 
 
 
 
Interest expense
 
$
690.1

 
$
380.9

 
Deferred financing amortization
 
198.7

 
358.0

 
 
 
 
 
 
Term Loans
 
 
 
 
 
Interest expense
 
2,991.9

 
1,257.2

 
Deferred financing amortization
 
119.9

 
76.4

Applicable Credit Spread Over Libor at Various Leverage Levels

 
 
Applicable Margin
Level


Ratio of Total Liabilities
to Gross Asset Value
2013 Revolving Facility
 
2014 7-Year Term Loan
 
2014 5-Year Term Loan
 
2015 5-Year Term Loan
 
1
Less than 0.450 to 1.00
1.20%
 
1.80%
 
1.35%
 
1.35%
 
2
Equal to or greater than 0.450 to 1.00 but less than 0.500 to 1.00
1.25%
(1) 
1.95%
(1) 
1.45%
(1) 
1.45%
(1) 
3
Equal to or greater than 0.500 to 1.00 but less than 0.550 to 1.00
1.30%
 
2.15%
 
1.60%
 
1.60%
 
4
Equal to or greater than 0.550 to 1.00
1.55%
 
2.35%
 
1.90%
 
1.90%
 
Carrying and Fair Values of Mortgage Loans
The carrying values and estimated fair values of mortgage loans based on interest rates and market conditions at March 31, 2016 and December 31, 2015 were as follows:
 
March 31, 2016
 
December 31, 2015
(in millions of dollars)
Carrying Value
 
Fair Value
 
Carrying Value
 
Fair Value
Mortgage loans
$
1,247.2

 
$
1,267.1

 
$
1,321.3

 
$
1,323.3