Debt Arrangements (Tables)

3 Months Ended

Mar. 31, 2017

Schedule of Debt Obligations

The Company’s debt obligations consist of the following:

	March 31, 2017			December 31, 2016
Senior Secured Notes	$	599,845		$	651,784
1.50% Convertible Notes(1)		281,002			277,518
Variable Funding Note		100,000			100,000
Senior Secured Term Loan, net of original issue discount		195,123			244,906
Unamortized debt issuance costs		(16,343	)		(20,048	)
Total debt		1,159,627			1,254,160
Less current maturities		453,464			160,435
Total long-term debt	$	706,163		$	1,093,725

⁽¹⁾ During FY 2016, the Company repurchased a total of $104.9 million par value (of which $51.7 million and $53.2 million were purchased in June 2016 and July 2016, respectively) of the 1.50% Convertible Notes.  See below for further details.

Company's Debt Maturities on Calendar Year Basis

As of March 31, 2017, the Company’s debt maturities on a calendar year basis are as follows:

	Total		April 1 through December31, 2017		2018		2019		2020		2021		Thereafter
Senior Secured Notes	$	599,845	$	43,264	$	57,685	$	57,685	$	57,685	$	57,685	$	325,841
1.50% Convertible Notes(1)	$	281,002		—		281,002		—		—		—		—
Variable Funding Notes	$	100,000		—		100,000		—		—		—		—
Senior Secured Term Loan(2)	$	195,123		11,250		15,000		15,000		15,000		138,873		—
Total	$	1,175,970	$	54,514	$	453,687	$	72,685	$	72,685	$	196,558	$	325,841

⁽¹⁾ Reflects the net debt carrying amount of the 1.50% Convertible Notes in the unaudited condensed consolidated balance sheet as of March 31, 2017, in accordance with accounting for convertible notes. After taking into effect the $104.9 million of repurchases of the 1.50% Convertible Notes as discussed above, the remaining principal amount owed to the holders of the 1.50% Convertible Notes is $295.1 million.

⁽²⁾ Reflects the net debt carrying amount, effected by the outstanding balance of the original issue discount, in the unaudited condensed consolidated balance sheet as of March 31, 2017. The actual principal outstanding balance of the Senior Secured Term Loan is $209.7 million as of March 31, 2017.

Convertible Notes | 1.50% Senior Subordinated Notes Due March 15, 2018

Details of Convertible Notes Reflected on Consolidated Balance Sheet

As of March 31, 2017 and December 31, 2016, the amount of the 1.50% Convertible Notes accounted for as a liability was approximately $281.0 million and $277.5 million, respectively, and is reflected on the condensed consolidated balance sheets as follows:

	March 31, 2017		December 31, 2016
Equity component carrying amount	$	48,767	$	48,767
Unamortized discount		14,048		17,531
Net debt carrying amount		281,002		277,518