At December 31, 2015 and 2014, our obligations under debt arrangements consisted of the following:



	December 31, 2015						December 31, 2014
	Principal		Unamortized Discount and Debt Issuance Costs ⁽¹⁾		Net Value		Principal		Unamortized Discount and Debt Issuance Costs ⁽¹⁾		Net Value
Senior secured credit facility	$	1,115,000	$	—	$	1,115,000	$	550,400	$	—	550,400
7.875% senior unsecured notes⁽²⁾	—		—		—		350,000		4,502		345,498
6.000% senior unsecured notes	400,000		7,825		392,175		—		—		—
5.750% senior unsecured notes	350,000		5,183		344,817		350,000		6,202		343,798
5.625% senior unsecured notes	350,000		7,510		342,490		350,000		8,407		341,593
6.750% senior unsecured notes	750,000		22,428		727,572		—		—		—
Total long-term debt	$	2,965,000	$	42,946	$	2,922,054	$	1,600,400	$	19,111	$	1,581,289

(1)

In April 2015, the FASB issued guidance that requires the presentation of debt issuance costs in financial statements as a direct reduction of related debt liabilities with amortization of debt issuance costs reported as interest expense. Under current U.S. GAAP standards, debt issuance costs are reported as deferred charges (i.e., as an asset). This guidance is effective for annual periods, and interim periods within those fiscal years, beginning after December 15, 2015 and is to be applied retrospectively upon adoption. Early adoption is permitted, including adoption in an interim period for financial statements that have not been previously issued. Genesis adopted this guidance in the fourth quarter of 2015.


(2)	Net of unamortized premium of $639 in 2014.