2.2.0.7 false Debt 0209 - Disclosure - Debt true false false false 1 USD false false 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 Shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 $ 2 Debt [Abstract] 0 nhp_DebtAbstract nhp false na duration Debt Abstract. false false false false false true false false false false false false 1 false false false false 0 0 false false false xbrli:stringItemType string Debt Abstract. false 3 Debt 1 us-gaap_DebtDisclosureTextBlock us-gaap true na duration 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: 0in; "> <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: 4%"><i>Unsecured Senior Credit Facility</i> </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 8%">As of September 30, 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 September 30, 2010) or applicable LIBOR plus 0.70% (1.01% at September 30, 2010). We pay a facility fee of 0.15% per annum on the total commitment under the agreement. Effective June 25, 2010, we exercised our option to extend the maturity date by one year to December 15, 2011. As of September 30, 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: 4%"><i>Senior Notes</i> </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 8%">The aggregate principal amount of notes outstanding at September 30, 2010 was $991.6 million. As of September 30, 2010, the weighted average interest rate on the notes was 6.47% and the weighted average maturity was 4.2 years. </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><i>Notes and Bonds Payable</i> </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 8%">The aggregate principal amount of notes and bonds payable at September 30, 2010 was $454.8 million. Notes and bonds payable are due through the year 2037, at interest rates ranging from 1.03% to 8.63% and are secured by real estate properties with an aggregate net book value as of September 30, 2010 of $626.8 million. As of September 30, 2010, the weighted average interest rate on the notes and bonds payable was 5.32% and the weighted average maturity was 7.3 years. </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 8%">During the nine months ended September 30, 2010, we assumed mortgages as part of certain acquisitions totaling $109.5 million. </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 8%">During the nine months ended September 30, 2010, we repaid at maturity $67.2 million of secured debt with a weighted average interest rate of 5.24% and prepaid $12.4 million of secured debt with an interest rate of 6.95%. </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 8%">During the nine months ended September 30, 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; text-indent: 8%">From October 1, 2010 to November 8, 2010, we prepaid $70.8 million of secured debt at a weighted average interest rate of 3.76% (see Note 19). </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><i>Debt Maturities</i> </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 8%">The principal balances of our debt as of September 30, 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">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> </tr> <tr valign="bottom" style="padding-top: 1px"> <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">70,843</td> <td> </td> <td> </td> <td> </td> <td align="right">409,883</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff; padding-top: 1px"> <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">50,576</td> <td> </td> <td> </td> <td> </td> <td align="right">123,526</td> <td> </td> </tr> <tr valign="bottom" style="padding-top: 1px"> <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">38,404</td> <td> </td> <td> </td> <td> </td> <td align="right">308,254</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff; padding-top: 1px"> <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">21,948</td> <td> </td> <td> </td> <td> </td> <td align="right">21,948</td> <td> </td> </tr> <tr valign="bottom" style="padding-top: 1px"> <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">273,008</td> <td> </td> <td> </td> <td> </td> <td align="right">582,801</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">454,779</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">1,446,412</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>  <div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; "> <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>  <!-- Begin Block Tagged Note false false false us-types:textBlockItemType textblock 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 129 -Paragraph 2, 4 false 1 2 false UnKnown UnKnown UnKnown false true