Debt (Tables)

12 Months Ended

Dec. 31, 2016

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Long Term Debt Outstanding

The following table sets forth our outstanding debt:

	December 31,
	2016		2015
	(In thousands)
7.456% senior notes due 2018	$	500,000	$	500,000
5.95% senior notes due 2020	747,020		746,216
2.5% (€650 million) senior notes due 2022	677,503		703,254
4.5% senior notes due 2024	494,472		493,797
5.0% senior notes due 2026	740,341		739,873
Long-term debt(1)	$	3,159,336	$	3,183,140

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(1) Net of discounts and debt issuance costs. Excludes debt acquired in the HomeAway acquisition included within accrued expenses and other current liabilities as of December 31, 2015. For further information, see NOTE 3 — Acquisitions and Other Investments.

Level 2

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Long Term Debt Outstanding

The following table sets forth the approximate fair value of our outstanding debt, which is based on quoted market prices in less active markets (Level 2 inputs):

	December 31,
	2016		2015
	(In thousands)
7.456% senior notes due 2018	$	541,000	$	555,000
5.95% senior notes due 2020	823,000		827,000
2.5% (€650 million) senior notes due 2022(1)	718,000		705,000
4.5% senior notes due 2024	511,000		487,000
5.0% senior notes due 2026	782,000		750,000