XML 46 R26.htm IDEA: XBRL DOCUMENT v3.10.0.1
Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2018
Debt Disclosure [Abstract]  
Outstanding Debt
The Company's outstanding debt is summarized below:
 
 
 
As of December 31, 2018
 
As of December 31, 2017
 
Maturity Date
Principal
 
Debt
Issuance
Costs
 
Carrying
Amount
 
Principal
 
Debt
Issuance
Costs
 
Carrying
Amount
 
 
(in thousands)
Amended Credit Facility
September 14, 2023
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

7.0% Senior Notes (1)
October 15, 2022
350,000

 
(3,210
)
 
346,790

 
350,000

 
(4,033
)
 
345,967

8.75% Senior Notes (2)
June 15, 2025
275,000

 
(4,403
)
 
270,597

 
275,000

 
(5,080
)
 
269,920

Lease Financing Obligation (3)
August 10, 2020
1,859

 
—

 
1,859

 
2,328

 
(2
)
 
2,326

Total Debt
 
$
626,859

 
$
(7,613
)
 
$
619,246

 
$
627,328

 
$
(9,115
)
 
$
618,213

Less: Current Portion of Long-Term Debt (4)
 
1,859

 
—

 
1,859

 
469

 
—

 
469

     Total Long-Term Debt
 
$
625,000

 
$
(7,613
)
 
$
617,387

 
$
626,859

 
$
(9,115
)
 
$
617,744



(1)
The aggregate estimated fair value of the 7.0% Senior Notes was approximately $329.7 million and $356.1 million as of December 31, 2018 and 2017, respectively, based on reported market trades of these instruments.
(2)
The aggregate estimated fair value of the 8.75% Senior Notes was approximately $264.7 million and $305.3 million as of December 31, 2018 and 2017, respectively, based on reported market trades of these instruments.
(3)
The aggregate estimated fair value of the Lease Financing Obligation was approximately $1.8 million and $2.1 million as of December 31, 2018 and 2017, respectively. As there is no active, public market for the Lease Financing Obligation, the aggregate estimated fair value was based on market-based parameters of comparable term secured financing instruments.
(4)
The current portion of long-term debt includes the current portion of the Lease Financing Obligation. The Company has elected to exercise the early buyout option pursuant to which the Company will purchase the equipment for $1.8 million on February 10, 2019.