2.0.0.10 false Debt 0209 - Disclosure - Debt true false false false 1 usd $ false false Shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USDEPS Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 2 Debt [Abstract] 0 nhp_DebtAbstract nhp false na duration string Debt Abstract. false false false false false true false false false false false false 1 false false false false 0 0 false false false Debt Abstract. false 3 Debt 1 us-gaap_DebtDisclosureTextBlock us-gaap true na duration string No definition available. false false false false false false false false false false false verboselabel false 1 false false false false 0 0   <div style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in"> <div align="left" style="font-size: 10pt; margin-top: 10pt"><b>9. Debt</b> </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 1%"><i>Unsecured Senior Credit Facility</i> </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">At March 31, 2010, we had no balance outstanding on our $700.0 million revolving unsecured senior credit facility. At our option, borrowings under the credit facility bear interest at the prime rate (3.25% at March 31, 2010) or applicable LIBOR plus 0.70% (0.95% at March 31, 2010). We pay a facility fee of 0.15% per annum on the total commitment under the agreement. The credit facility matures on December 15, 2010. The maturity date may be extended by one additional year at our discretion. As of March 31, 2010, we were in compliance with all covenants under the credit facility. </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 1%"><i>Senior Notes</i> </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The aggregate principal amount of notes outstanding at March 31, 2010 was $991.6 million. At March 31, 2010, the weighted average interest rate on the notes was 6.47% and the weighted average maturity was 4.7 years. </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 1%"><i>Notes and Bonds Payable</i> </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The aggregate principal amount of notes and bonds payable at March 31, 2010 was $536.0 million. Notes and bonds payable are due through the year 2037, at interest rates ranging from 1.08% to 8.63% and are secured by real estate properties with an aggregate net book value as of March 31, 2010 of $799.2 million. At March 31, 2010, the weighted average interest rate on the notes and bonds payable was 5.35% and the weighted average maturity was 6.7 years. </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">During the three months ended March 31, 2010, we assumed mortgages as part of certain acquisitions totaling $109.5 million. </div>   </div>  <div style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in"> <div align="center" style="font-size: 10pt; margin-top: 0pt"> <b> </b> </div> <div align="center" style="font-size: 10pt; margin-top: 0pt"> <b> </b> </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">During the three months ended March 31, 2010, we repaid at maturity $2.9 million of fixed rate secured debt that bore interest at 8.02%. </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">During the three months ended March 31, 2010, we exercised a 12-month extension option on a $32.4 million loan that was scheduled to mature in April 2010. </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 1%"><i>Debt Maturities</i> </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The principal balances of our debt as of March 31, 2010 mature as follows: </div> <div align="center"> <table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="44%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="9%"> </td> <td width="1%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="9%"> </td> <td width="1%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="9%"> </td> <td width="1%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="9%"> </td> <td width="1%"> </td> </tr> <tr style="font-size: 10pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>Credit</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>Senior</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"><b>Notes and Bonds</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"> </td> <td> </td> </tr> <tr style="font-size: 10pt" valign="bottom"> <td nowrap="nowrap" align="left" style="border-bottom: 1px solid #000000"><b>Year</b></td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>Facility</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>Notes</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>Payable</b></td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"><b>Total</b></td> <td> </td> </tr> <tr style="font-size: 10pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="14"><b>(In thousands)</b></td> <td> </td> </tr>   <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">2010 </div></td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">77,275</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">77,275</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">2011 </div></td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">339,040</td> <td> </td> <td> </td> <td> </td> <td align="right">71,483</td> <td> </td> <td> </td> <td> </td> <td align="right">410,523</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">2012 </div></td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">72,950</td> <td> </td> <td> </td> <td> </td> <td align="right">51,131</td> <td> </td> <td> </td> <td> </td> <td align="right">124,081</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">2013 </div></td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">269,850</td> <td> </td> <td> </td> <td> </td> <td align="right">38,997</td> <td> </td> <td> </td> <td> </td> <td align="right">308,847</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">2014 </div></td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">22,167</td> <td> </td> <td> </td> <td> </td> <td align="right">22,167</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Thereafter (1) </div></td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">309,793</td> <td> </td> <td> </td> <td> </td> <td align="right">274,897</td> <td> </td> <td> </td> <td> </td> <td align="right">584,690</td> <td> </td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">991,633</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">535,950</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">1,527,583</td> <td> </td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> </tr>  </table> </div> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr style="font-size: 6pt"> <td width="3%"> </td> <td width="1%"> </td> <td width="96"> </td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(1)</td> <td> </td> <td>There are $52.4 million of senior notes due in 2037 which may be put back to us at their face amount at the option of the holder on October 1 of any of the following years: 2012, 2017 or 2027. There are $23.0 million of senior notes due in 2038 which may be put back to us at their face amount at the option of the holder on July 7 of any of the following years: 2013, 2018, 2023 or 2028.</td> </tr> </table> </div>  <!-- Begin Block Tagged Note false false false Information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. 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