• Filing Date: 2018-03-07
  • Form Type: 10-K
  • Description: Annual report
v3.8.0.1
Long-Term Debt (Tables)
12 Months Ended
Dec. 31, 2017
Debt Disclosure [Abstract]  
Summary of Long-term Debt

The following table summarizes the Company’s long-term debt:

 

     December 31,  
     2017      2016  

8% Senior Notes, redeemed in April 2017

   $ —        $ 40,250  

3.875% Convertible Senior Notes, due March 15, 2019

     89,990        89,990  

4.25% Convertible Senior Notes, due March 1, 2037

     143,750        —    

3.95% Promissory note, due through February 17, 2020

     9,360        —    

4% Promissory note, due through February 1, 2031

     8,348        8,821  

3.75% Promissory note, due through September 1, 2036

     8,613        8,924  
  

 

 

    

 

 

 

Total principal amount

     260,061        147,985  

Less: unamortized discount and issuance costs

     (22,226      (9,122
  

 

 

    

 

 

 

Total long-term debt

   $ 237,835      $ 138,863  
  

 

 

    

 

 

 
Summary of Future Maturities of Long-Term Debt

The following table summarizes future maturities of long-term debt as of December 31, 2017, which takes into consideration the assumption that the 4.25% Convertible Senior Notes are repurchased at the earliest call date.

 

Year

      

2018

   $ 1,049  

2019

     91,081  

2020

     9,761  

2021

     916  

2022

     144,702  

Thereafter

     12,552  
  

 

 

 

Total

   $ 260,061  
  

 

 

 
Schedule of Interest Expense Related to Long-Term Debt

Information with respect to interest expense related to long-term debt is as follows:

 

     Years Ended December 31,  
     2017      2016      2015  

Interest Expense:

        

Contractual interest

   $ 10,424      $ 7,315      $ 7,211  

Non-cash expense (a)

     6,404        3,529        3,543  

Capitalized interest (b)

     (61      —          —    
  

 

 

    

 

 

    

 

 

 

Total

   $ 16,767      $ 10,844      $ 10,754  
  

 

 

    

 

 

    

 

 

 

 

(a) Represents amortization of debt discount and issuance costs.
(b) Interest was capitalized for a construction project in Riverview, Florida which is intended for lease.
Summary of Principal and Interest Payment Terms of Convertible Senior Notes

The following table summarizes the principal and interest payment terms of these Convertible Senior Notes:

 

Convertible Senior Notes

  

Interest Payment Terms

3.875% Convertible Notes, due March 15, 2019

   Semiannually in arrears: March 15 and September 15

4.25% Convertible Notes, due March 1, 2037

   Semiannually in arrears: March 1 and September 1

Summary of Equity and Liability Components of the Convertible Senior Notes

The following table summarizes information regarding the equity and liability components of the Convertible Senior Notes:

 

     December 31,  
     2017      2016  

Principal amount

   $ 233,740      $ 89,990  

Unamortized discount

     (17,354      (6,795
  

 

 

    

 

 

 

Liability component – net carrying value before issuance costs

   $ 216,386      $ 83,195  
  

 

 

    

 

 

 

Equity component – conversion, net of offering costs

   $ 31,051      $ 15,900