Our obligations under debt arrangements consisted of the following:



	March 31, 2016						December 31, 2015
	Principal		Unamortized Discount and Debt Issuance Costs ⁽¹⁾		Net Value		Principal		Unamortized Discount and Debt Issuance Costs ⁽¹⁾		Net Value
Senior secured credit facility	$	1,280,000	$	—	$	1,280,000	$	1,115,000	$	—	$	1,115,000
6.000% senior unsecured notes	400,000		7,558		392,442		400,000		7,825		392,175
5.750% senior unsecured notes	350,000		4,928		345,072		350,000		5,183		344,817
5.625% senior unsecured notes	350,000		7,286		342,714		350,000		7,510		342,490
6.750% senior unsecured notes	750,000		21,653		728,347		750,000		22,428		727,572
Total long-term debt	$	3,130,000	$	41,425	$	3,088,575	$	2,965,000	$	42,946	$	2,922,054

(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.