Notes Payable, Long Term Debt and Other Obligations (Tables)

9 Months Ended

Sep. 30, 2012

Debt Disclosure [Abstract]

Notes payable, long-term debt and other obligations

Notes payable, long-term debt and other obligations consist of:

	September 30, 2012			December 31, 2011
Vector:
11% Senior Secured Notes due 2015, net of unamortized discount of $458 and $591	$	414,542		$	414,409
6.75% Variable Interest Senior Convertible Note due 2014, net of unamortized discount of $32,092 and $35,704*	17,908			14,296
6.75% Variable Interest Senior Convertible Exchange Notes due 2014, net of unamortized discount of $48,571 and $57,036*	58,959			50,494
3.875% Variable Interest Senior Convertible Debentures due 2026, net of unamortized discount of $36,184 and $82,948*	7,038			16,052
Liggett:
Revolving credit facility	6,153			21,472
Term loan under credit facility	4,253			5,689
Equipment loans	21,448			21,255
Other	342			533
Total notes payable, long-term debt and other obligations	530,643			544,200
Less:
Current maturities	(15,628		)	(50,844		)
Amount due after one year	$	515,015		$	493,356

______________________

* The fair value of the derivatives embedded within the 6.75% Variable Interest Senior Convertible Note ($13,951 at September 30, 2012 and $16,929 at December 31, 2011, respectively), the 6.75% Variable Interest Senior Convertible Exchange Notes ($26,446 at September 30, 2012 and $32,086 at December 31, 2011, respectively), and the 3.875% Variable Interest Senior Convertible Debentures ($47,069 at September 30, 2012 and $84,485 at December 31, 2011, respectively) is separately classified as a derivative liability in the condensed consolidated balance sheets.

Components of non-cash interest expense

Components of non-cash interest expense are as follows:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2012		2011		2012		2011
Amortization of debt discount	$	4,779	$	2,709	$	12,220	$	7,551
Amortization of deferred finance costs	606		1,123		2,067		4,004
Accelerated interest expense on 3.875% Variable Interest Senior Convertible Debentures converted	7,072		—		14,960		1,217
	$	12,457	$	3,832	$	29,247	$	12,772

Fair Value of Notes Payable and Long-term Debt

Fair Value of Notes Payable and Long-term Debt:

	September 30, 2012				December 31, 2011
	Carrying		Fair		Carrying		Fair
	Value		Value		Value		Value
Notes payable and long-term debt	$	530,643	$	693,452	$	544,200	$	801,353