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Indebtedness
3 Months Ended
Mar. 31, 2015
Indebtedness  
Indebtedness

4.  Indebtedness

 

The components of long-term debt and notes payable are as follows:

 

 

 

December 31,
2014

 

March 31,
2015

 

 

 

(in thousands)

 

 

 

 

 

 

 

6.375% senior notes (1)

 

$

711,465 

 

$

711,408 

 

Senior secured credit facilities:

 

 

 

 

 

Revolving loan

 

60,000 

 

100,000 

 

Term loans (2) 

 

775,996 

 

749,490 

 

Other

 

5,515 

 

19,789 

 

Total debt

 

1,552,976 

 

1,580,687 

 

Less: current maturities

 

10,874 

 

11,060 

 

Total long-term debt

 

$

1,542,102 

 

$

1,569,627 

 

 

(1)

Includes unamortized premium of $1.5 million and $1.4 million at December 31, 2014 and March 31, 2015, respectively.

(2)

Includes unamortized discounts of $4.2 million and $3.8 million at December 31, 2014 and March 31, 2015, respectively.

 

Excess Cash Flow Payment

 

On March 4, 2015, Select made a principal prepayment of $26.9 million associated with its term loans in accordance with the provision in its senior secured credit facilities agreement that requires mandatory prepayments of term loans resulting from excess cash flow as defined in the senior secured credit facilities.

 

Maturities of Long-Term Debt and Notes Payable

 

Maturities of the Company’s long-term debt for the period from April 1, 2015 through December 31, 2015 and the years after 2015 are approximately as follows and are presented including the discounts on the senior secured credit facility term loans and premium on the senior notes (in thousands):

 

April 1, 2015 — December 31, 2015

 

$

8,805 

 

2016

 

281,913 

 

2017

 

6,444 

 

2018

 

570,713 

 

2019

 

2,489 

 

2020 and beyond

 

710,323 

 

 

Loss on Early Retirement of Debt

 

On March 4, 2014, Select amended its term loans under its senior secured credit facilities.  During the three months ended March 31, 2014, the Company recognized a loss of $2.3 million for unamortized debt issuance costs, unamortized original issue discount, and certain fees incurred related to term loan modifications.