Debt (Tables)

12 Months Ended

Dec. 31, 2016

Our debt consists of the following (in thousands):



	December 31,
	2016		2015
Debt payable, net to 2038 ⁽¹⁾	$	2,023,403	$	1,872,942
Unsecured notes payable under credit facilities	245,000		149,500
Debt service guaranty liability	67,125		69,835
Obligations under capital leases	21,000		21,000
Total	$	2,356,528	$	2,113,277

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(1)	At December 31, 2016, interest rates ranged from 1.7% to 7.9% at a weighted average rate of 4.0%. At December 31, 2015, interest rates ranged from 1.0% to 8.6% at a weighted average rate of 4.3%.

Grouping Of Debt Between Fixed And Variable As Well As Secured And Unsecured

The allocation of total debt between fixed and variable-rate as well as between secured and unsecured is summarized below (in thousands):



	December 31,
	2016		2015
As to interest rate (including the effects of interest rate contracts):
Fixed-rate debt	$	2,089,769	$	1,869,683
Variable-rate debt	266,759		243,594
Total	$	2,356,528	$	2,113,277
As to collateralization:
Unsecured debt	$	1,913,399	$	1,650,521
Secured debt	443,129		462,756
Total	$	2,356,528	$	2,113,277

Schedule Of Credit Facilities

The following table discloses certain information regarding our unsecured notes payable under our credit facilities (in thousands, except percentages):



	December 31,
	2016			2015
Unsecured revolving credit facility:
Balance outstanding	$	245,000		$	140,000
Available balance	250,140			355,190
Letter of credit outstanding under facility	4,860			4,810
Variable interest rate (excluding facility fee)	1.5		%	1.3		%
Unsecured short-term facility:
Balance outstanding	$	—		$	9,500
Variable interest rate	—		%	1.7		%
Both facilities:
Maximum balance outstanding during the year	$	372,000		$	244,500
Weighted average balance	141,017			100,506
Year-to-date weighted average interest rate (excluding facility fee)	1.3		%	0.9		%

Principal Payments Of Debt

Scheduled principal payments on our debt (excluding $245.0 million unsecured notes payable under our credit facilities, $21.0 million of certain capital leases, $(6.1) million net premium/(discount) on debt, $(10.6) million of deferred debt costs, $5.1 million of non-cash debt-related items, and $67.1 million debt service guaranty liability) are due during the following years (in thousands):



2017	$	86,710
2018	80,427
2019	56,245
2020	237,779
2021	17,667
2022	307,857
2023	305,705
2024	255,965
2025	303,314
2026	277,304
Thereafter	106,025
Total	$	2,034,998