Debt (Tables)

6 Months Ended

Jun. 30, 2016

Debt Instruments [Abstract]

Schedule of Debt

Debt consists of the following (in thousands):

	June 30, 2016			December 31, 2015
Convertible senior notes - unsecured (net of discount of $5,295 and $5,862)	$	194,705		$	194,138
Revolving credit facility - unsecured	191,000			34,000
Bank term loans - unsecured	250,000			250,000
Private placement term loans - unsecured	325,000			325,000
HUD mortgage loans (net of discount of $1,530 and $1,573)	44,698			45,035
Fannie Mae term loans - secured, non-recourse	78,084			78,084
Unamortized loan costs	(10,652		)	(11,814		)
	$	1,072,835		$	914,443

Schedule of Maturities of Long-term Debt

Aggregate principal maturities of debt as of June 30, 2016 for each of the next five years and thereafter are as follows (in thousands):

Twelve months ended June 30,
2017	$	781
2018	808
2019	835
2020	441,863
2021	200,893
Thereafter	445,132
	1,090,312
Less: discount	(6,825		)
Less: unamortized loan costs	(10,652		)
	$	1,072,835

Schedule of Interest Expense

The following table summarizes interest expense (in thousands):

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2016			2015			2016			2015
Interest expense at contractual rates	$	9,991		$	8,511		$	19,505		$	16,223
Capitalized interest	(196		)	(84		)	(316		)	(204		)
Amortization of debt issuance costs and debt discount	871			860			1,739			1,680
Total interest expense	$	10,666		$	9,287		$	20,928		$	17,699

Schedule of Interest Rate Derivatives

To mitigate our exposure to interest rate risk, we have entered into the following interest rate swap contracts on our bank term loans as of June 30, 2016 (dollars in thousands):

Date Entered	Maturity Date	Fixed Rate	Rate Index	Notional Amount		Fair Value
May 2012	April 2019	3.29%	1-month LIBOR	$	40,000	$	(1,030	)
June 2013	June 2020	3.86%	1-month LIBOR	$	80,000	$	(4,335	)
March 2014	June 2020	3.91%	1-month LIBOR	$	130,000	$	(7,281	)