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

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Notes payable, long-term debt and other obligations

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

	March 31, 2019			December 31, 2018
Vector:
6.125% Senior Secured Notes due 2025	$	850,000		$	850,000
10.5% Senior Notes due 2026	325,000			325,000
7.5% Variable Interest Senior Convertible Notes due 2019, net of unamortized discount of $0 and $3,359*	—			226,641
5.5% Variable Interest Senior Convertible Debentures due 2020, net of unamortized discount of $24,300 and $29,465*	207,700			202,535
Liggett:
Revolving credit facility	35,435			28,381
Term loan under credit facility	2,335			2,409
Equipment loans	667			1,039
Other	30,346			30,440
Notes payable, long-term debt and other obligations	1,451,483			1,666,445
Less:
Debt issuance costs	(22,458		)	(23,614		)
Total notes payable, long-term debt and other obligations	1,429,025			1,642,831
Less:
Current maturities	(41,080		)	(256,134		)
Amount due after one year	$	1,387,945		$	1,386,697

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* The fair value of the derivatives embedded within the 7.5% Variable Interest Senior Convertible Notes ($0 at March 31, 2019 and $6,635 at December 31, 2018, respectively) and the 5.5% Variable Interest Senior Convertible Debentures ($21,075 at March 31, 2019 and $24,789 at December 31, 2018, respectively), is separately classified as a derivative liability in the condensed consolidated balance sheets.

Schedule of non-cash interest expense - Vector

Non-Cash Interest Expense — Vector:

	Three Months Ended
	March 31,
	2019		2018
Amortization of debt discount, net	$	8,528	$	18,193
Amortization of debt issuance costs	1,185		2,681
	$	9,713	$	20,874

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

Fair Value of Notes Payable and Long-Term Debt:

	March 31, 2019					December 31, 2018
	Carrying			Fair		Carrying			Fair
	Value			Value		Value			Value
Senior Notes	$	1,175,000		$	1,060,943	$	1,175,000		$	1,034,500
Variable Interest Senior Convertible Debt	207,700			235,190		429,176			468,704
Liggett and other	68,783			68,773		62,269			62,255
Notes payable and long-term debt	$	1,451,483	(1)	$	1,364,906	$	1,666,445	(1)	$	1,565,459

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⁽¹⁾ The carrying value does not include the carrying value of the embedded derivative. See Note 12.