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Debt and Other Long-Term Liabilities (Table)
12 Months Ended
Dec. 31, 2016
Long Term Liabilities Tables [Abstract]  
Schedule of Long-term Liabilities

 

 

 

December 31,

2016

 

 

December 31,

2015

 

Total Debt:

 

 

 

 

 

 

 

 

6.125% Senior Notes due 2024

 

$

850,000

 

 

$

850,000

 

5.75% Senior Notes due 2018

 

 

450,000

 

 

 

450,000

 

Senior Notes issued by Ultra Resources, Inc.

 

 

1,460,000

 

 

 

1,460,000

 

Credit Agreement

 

 

999,000

 

 

 

630,000

 

Total current portion of long-term debt

 

 

3,759,000

 

 

 

3,390,000

 

Less: Deferred financing costs(1)

 

 

 

 

 

(19,447

)

Less: Liabilities subject to compromise(2) (See Note 1)

 

 

(3,759,000

)

 

 

 

Total current portion of long-term debt not subject to

   compromise

 

 

 

 

$

3,370,553

 

 


 

 

 

December 31,

2016

 

 

December 31,

2015

 

 

 

 

 

 

 

 

 

 

Other long-term obligations:

 

 

 

 

 

 

 

 

Other long-term obligations

 

$

177,088

 

 

$

165,784

 

 

Maturity Schedule

Aggregate maturities of debt at December 31, 2016:(2)

 

2017

 

 

2018

 

 

2019

 

 

2020

 

 

2021

 

 

Beyond

5 years

 

 

Total

 

$

3,759,000

 

 

$

 

 

$

 

 

$

 

 

$

 

 

$

 

 

$

3,759,000

 

 

(1)

A non-cash charge to write-off all of the unamortized debt issuance costs related to the unsecured Credit Agreement, the unsecured Senior Notes issued by Ultra Resources, the unsecured 2018 Senior Notes issued by the Company and the unsecured 2024 Senior Notes issued by the Company is included in Reorganization items, net in the Consolidated Statements of Operations as these debt instruments are expected to be impacted by the pendency of the Company’s chapter 11 cases.

 

(2)

We have significant indebtedness, all of which is included with liabilities subject to compromise at December 31, 2016 in the Consolidated Balance Sheets. Our level of indebtedness has adversely impacted and is continuing to adversely impact our financial condition. As a result of our financial condition, the defaults under our debt agreements and the risks and uncertainties surrounding our chapter 11 proceedings, substantial doubt exists that we will be able to continue as a going concern. As a result, we have classified all of our total outstanding debt as short-term.