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

9 Months Ended

Sep. 30, 2016

Notes payable, long-term debt and other obligations

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



	September 30, 2016			December 31, 2015
Vector:
7.75% Senior Secured Notes due 2021, including premium of $14,675 and $8,014	$	849,675		$	608,014
7.5% Variable Interest Senior Convertible Notes due 2019, net of unamortized discount of $115,479 and $132,119*	114,521			97,881
5.5% Variable Interest Senior Convertible Debentures due 2020, net of unamortized discount of $75,153 and $86,136*	183,597			172,614
Liggett:
Revolving credit facility	13,591			3,213
Term loan under credit facility	3,073			3,269
Equipment loans	5,136			9,716
Other	641			461
Notes payable, long-term debt and other obligations	1,170,234			895,168
Less:
Debt issuance costs	(32,521		)	(30,141		)
Total notes payable, long-term debt and other obligations	1,137,713			865,027
Less:
Current maturities	(16,280		)	(8,919		)
Amount due after one year	$	1,121,433		$	856,108

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* The fair value of the derivatives embedded within the 7.5% Variable Interest Senior Convertible Notes ($57,901 at September 30, 2016 and $72,083 at December 31, 2015, respectively) and the 5.5% Variable Interest Senior Convertible Debentures ($62,919 at September 30, 2016 and $71,959 at December 31, 2015, respectively), is separately classified as a derivative liability in the condensed consolidated balance sheets.

Schedule of conversion rates for all convertible debt outstanding

The conversion rates for all convertible debt outstanding as of September 30, 2016 and December 31, 2015, are summarized below:



	September 30, 2016			December 31, 2015
	Conversion Price		Shares per $1,000	Conversion Price		Shares per $1,000

7.5% Variable Interest Senior Convertible Notes due 2019	$	15.22	65.7030	$	15.22	65.7030
5.5% Variable Interest Senior Convertible Debentures due 2020	$	23.46	42.6185	$	23.46	42.6185

Schedule of non-cash interest expense - Vector

Non-Cash Interest Expense - Vector:



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2016		2015		2016		2015
Amortization of debt discount, net	$	9,450	$	6,868	$	26,059	$	18,708
Amortization of debt issuance costs	1,650		1,085		4,220		3,073
	$	11,100	$	7,953	$	30,279	$	21,781

Schedule of fair value of notes payable and long-term debt

Fair Value of Notes Payable and Long-Term Debt:



	September 30, 2016					December 31, 2015
	Carrying			Fair		Carrying			Fair
	Value			Value		Value			Value
Notes payable and long-term debt	$	1,170,234	(1)	$	1,538,419	$	895,168	(1)	$	1,297,875

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⁽¹⁾The carrying value does not include the carrying value of the embedded derivative. See Note 11.