Note 3—Debt

At March 31, 2018 and December 31, 2017, debt consisted of the following (in thousands):


	March 31, 2018			December 31, 2017
Senior secured credit facilities, weighted-average interest rate of 4.05% and 3.75%, respectively	$	1,430,925		$	1,492,175
5.875% senior notes due 2023		600,000			600,000
Unamortized original issue discount and debt issuance costs		(44,355	)		(46,980	)
		1,986,570			2,045,195
Less current portion of long-term debt		37,338			37,863
Long-term debt	$	1,949,232		$	2,007,332

Fair value of debt. The carrying amounts and fair values of financial instruments are as follows (in thousands):

	March 31, 2018				December 31, 2017
	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
Financial liabilities:
Senior secured credit facilities	$	1,430,925	$	1,436,911	$	1,492,175	$	1,500,761
5.875% senior notes due 2023		600,000		630,660		600,000		631,313

The above fair values, which are Level 2 liabilities, were computed based on comparable quoted market prices. The fair values of cash, accounts receivable, net, short-term borrowings, and accounts payable approximate the carrying amounts due to the short-term maturities of these instruments.