Debt (Tables)

9 Months Ended

Sep. 30, 2016

Debt Instruments [Abstract]

Schedule of Debt

Debt consists of the following (in thousands):

	September 30, 2016			December 31, 2015
Convertible senior notes - unsecured (net of discount of $5,007 and $5,862)	$	194,993		$	194,138
Revolving credit facility - unsecured	128,600			34,000
Bank term loans - unsecured	250,000			250,000
Private placement term loans - unsecured	400,000			325,000
HUD mortgage loans (net of discount of $1,509 and $1,573)	44,526			45,035
Fannie Mae term loans - secured, non-recourse	78,084			78,084
Unamortized loan costs	(10,185		)	(11,814		)
	$	1,086,018		$	914,443

Schedule of Maturities of Long-term Debt

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

Twelve months ended September 30,
2017	$	788
2018	814
2019	842
2020	379,471
2021	200,900
Thereafter	519,904
	1,102,719
Less: discount	(6,516		)
Less: unamortized loan costs	(10,185		)
	$	1,086,018

Schedule of Interest Expense

The following table summarizes interest expense (in thousands):

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2016			2015			2016			2015
Interest expense at contractual rates	$	10,087		$	9,000		$	29,592		$	25,223
Capitalized interest	(144		)	(92		)	(460		)	(296		)
Amortization of debt issuance costs and debt discount	873			864			2,613			2,544
Total interest expense	$	10,816		$	9,772		$	31,745		$	27,471

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 September 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	$	(743	)
June 2013	June 2020	3.86%	1-month LIBOR	$	80,000	$	(3,572	)
March 2014	June 2020	3.91%	1-month LIBOR	$	130,000	$	(6,028	)