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

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Notes payable, long-term debt and other obligations

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

	September 30, 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 $13,107 and $29,465*	218,893			202,535
Liggett:
Revolving credit facility	11,735			28,381
Term loan under credit facility	2,188			2,409
Equipment loans	446			1,039
Other	30,224			30,440
Notes payable, long-term debt and other obligations	1,438,486			1,666,445
Less:
Debt issuance costs	(20,378		)	(23,614		)
Total notes payable, long-term debt and other obligations	1,418,108			1,642,831
Less:
Current maturities	(239,867		)	(256,134		)
Amount due after one year	$	1,178,241		$	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 September 30, 2019 and $6,635 at December 31, 2018, respectively) and the 5.5% Variable Interest Senior Convertible Debentures ($11,105 at September 30, 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				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
Amortization of debt discount, net	$	5,746	$	22,871	$	19,718	$	61,450
Amortization of debt issuance costs	1,089		3,158		3,327		8,783
	$	6,835	$	26,029	$	23,045	$	70,233

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

Fair Value of Notes Payable and Long-Term Debt:

	September 30, 2019					December 31, 2018
	Carrying			Fair		Carrying			Fair
	Value			Value		Value			Value
Senior Notes	$	1,175,000		$	1,145,375	$	1,175,000		$	1,034,500
Variable Interest Senior Convertible Debt	218,893			241,136		429,176			468,704
Liggett and other	44,593			44,605		62,269			62,255
Notes payable and long-term debt	$	1,438,486	(1)	$	1,431,116	$	1,666,445	(1)	$	1,565,459

______________________

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