Long-Term Debt and Finance Lease Obligations

3 Months Ended

Mar. 31, 2019

Long-term Debt and Capital Lease Obligations [Abstract]

LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS

The following table summarizes the carrying amounts and fair values of our long-term debt and finance lease obligations.



	Effective Interest Rate	As of
		March 31, 2019					December 31, 2018
		Carrying Amount			Fair Value		Carrying Amount			Fair Value
		(In thousands)
Senior Secured Notes:
6 1/2% Senior Secured Notes due 2019	6.959%	$	912,857		$	919,119	$	920,836		$	932,696
5 1/4% Senior Secured Notes due 2026	5.320%	750,000			749,903		750,000			695,865
Senior Unsecured Notes:
7 5/8% Senior Unsecured Notes due 2021	8.062%	900,000			969,417		900,000			934,902
6 5/8% Senior Unsecured Notes due 2026	6.688%	750,000			741,368		750,000			696,353
Less: Unamortized debt issuance costs		(14,737		)	—		(16,757		)	—
Subtotal		3,298,120			$	3,379,807	3,304,079			$	3,259,816
Finance lease obligations		218,945					228,702
Total debt and finance lease obligations		3,517,065					3,532,781
Less: Current portion		(953,636		)			(959,577		)
Long-term debt and finance lease obligations, net		$	2,563,429				$	2,573,204

During the three months ended March 31, 2019, we repurchased $8 million of our 6 1/2% Senior Notes due 2019 in open market trades. The outstanding balance of the notes matures in June 2019.