Our obligations under debt arrangements consisted of the following:



	September 30, 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	$	1,167,000	$	—	$	1,167,000	$	1,115,000	$	—	$	1,115,000
6.000% senior unsecured notes due May 2023	400,000		7,024		392,976		400,000		7,825		392,175
5.750% senior unsecured notes due February 2021	350,000		4,418		345,582		350,000		5,183		344,817
5.625% senior unsecured notes due June 2024	350,000		6,838		343,162		350,000		7,510		342,490
6.750% senior unsecured notes due August 2022	750,000		20,087		729,913		750,000		22,428		727,572
Total long-term debt	$	3,017,000	$	38,367	$	2,978,633	$	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.