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Financing Activity (Tables)
9 Months Ended
Sep. 30, 2016
Debt Disclosure [Abstract]  
Schedule of credit facility interest expense [Table Text Block]
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(in thousands of dollars)
2016
 
2015
 
2016
 
2015
2013 Revolving Facility
 
 
 
 
 
 
 
 
 
Interest expense
 
$
805.0

 
$
649.6

 
$
2,277.4

 
$
2,357.1

 
Deferred financing amortization
 
198.7

 
209.8

 
596.2

 
1,181.3

 
 
 
 
 
 
 
 
 
 
Term Loans
 
 
 
 
 
 
 
 
 
Interest expense
 
3,125.0

 
2,707.0

 
9,161.9

 
5,935.7

 
Deferred financing amortization
 
190.9

 
118.3

 
431.5

 
273.8

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%
 
1.35%
 
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%
 
1.45%
 
1.45%
 
1.45%
 
3
Equal to or greater than 0.500 to 1.00 but less than 0.550 to 1.00
1.30%
(1) 
1.60%
(1) 
1.60%
(1) 
1.60%
(1) 
4
Equal to or greater than 0.550 to 1.00
1.55%
 
1.90%
 
1.90%
 
1.90%
 

Carrying and Fair Values of Mortgage Loans
The aggregate carrying values and estimated fair values of mortgage loans based on interest rates and market conditions at September 30, 2016 and December 31, 2015 were as follows:
 
September 30, 2016
 
December 31, 2015
(in millions of dollars)
Carrying Value
 
Fair Value
 
Carrying Value
 
Fair Value
Mortgage loans
$
1,227.7

 
$
1,231.6

 
$
1,321.3

 
$
1,323.3