Note 7: Debt and Other Long-Term Liabilities



	Debt															Other Liabilities							Total
	Senior Notes						Credit Facility						Total Debt			Capital Lease Obligations			Asset Retirement Obligations		Other Long-term Liabilities
Dollars in thousands	Senior Unsecured Notes due 2019			Senior Unsecured Notes due 2021			Term Loans			Revolving Line of Credit			Total Debt			Capital Lease Obligations			Asset Retirement Obligations		Other Long-term Liabilities
As of June 30, 2016:
Principal	$	320,614		$	228,598		$	129,375		$	80,000		$	758,587
Unamortized discount and deferred financing fees⁽¹⁾	(2,922		)	(3,234		)	(224		)	(1,968		)	(8,348		)
Total	317,692			225,364			129,151			78,032			750,239			$	5,531		$	9,438	$	19,780	$	784,988
Less: current portion	—			—			(15,000		)	—			(15,000		)	(3,418		)	—		—		(18,418		)
Total long-term portion	$	317,692		$	225,364		$	114,151		$	78,032		$	735,239		$	2,113		$	9,438	$	19,780	$	766,570



	Debt															Other Liabilities							Total
	Senior Notes						Credit Facility						Total Debt			Capital Lease Obligations			Asset Retirement Obligations		Other Long-term Liabilities
Dollars in thousands	Senior Unsecured Notes due 2019			Senior Unsecured Notes due 2021			Term Loans			Revolving Line of Credit			Total Debt			Capital Lease Obligations			Asset Retirement Obligations		Other Long-term Liabilities
As of December 31, 2015:
Principal	$	350,000		$	258,908		$	136,875		$	140,500		$	886,283
Unamortized discount and deferred financing fees⁽¹⁾	(3,770		)	(4,083		)	(260		)	(2,300		)	(10,413		)
Total	346,230			254,825			136,615			138,200			875,870			$	5,889		$	9,412	$	19,477	$	910,648
Less: current portion	—			—			(13,125		)	—			(13,125		)	(4,006		)	—		—		(17,131		)
Total long-term portion	$	346,230		$	254,825		$	123,490		$	138,200		$	862,745		$	1,883		$	9,412	$	19,477	$	893,517

(1)

As described in Note 1: Basis of Presentation and Principles of Consolidation, we adopted ASU 2015-03 and 2015-15 in the first quarter of 2016 and have applied the guidance to our Senior Notes and Credit Facility. Under this guidance, we are now presenting unamortized deferred financing fees as a direct deduction from the associated debt liability. Historically, unamortized deferred financing fees were included in other non-current assets. This adoption resulted in the reclassification of $3.8 million of unamortized deferred financing fees as of December 31, 2015, from other non-current assets to long-term debt in our Consolidated Balance Sheets. Deferred financing fees are amortized on a straight line basis over the life of the related loan.

Interest Expense



Dollars in thousands	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2016			2015		2016			2015
Cash interest expense	$	10,141		$	11,499	$	20,795		$	22,894
Amortization of debt discount and deferred financing fees	613			692		1,251			1,385
Total cash and non-cash interest expense	10,754			12,191		22,046			24,279
Gain from early extinguishment of debt	(418		)	—		(11,446		)	—
Total interest expense	$	10,336		$	12,191	$	10,600		$	24,279

2019 Notes

On March 12, 2013, we entered into an indenture pursuant to which we issued $350.0 million principal amount of 6.000% Senior Notes due 2019 (the “2019 Notes”) at par for proceeds, net of expenses, of $343.8 million. Each of our direct and indirect U.S. subsidiaries guarantees the 2019 Notes.

During the second quarter of 2016, no notes were repurchased. During the six months ended June 30, 2016, we repurchased 29,386 notes, or $29.4 million in face value of notes, for $23.4 million in cash. The gain from early extinguishment of these notes was approximately $5.6 million and is included in interest expense, net on our Consolidated Statements of Comprehensive Income.

As of June 30, 2016, we were in compliance with the covenants of the related indenture.

2021 Notes

On June 9, 2014, we entered into an indenture pursuant to which we issued $300.0 million principal amount of 5.875% Senior Notes due 2021 (the “2021 Notes”) at par for proceeds, net of expenses, of $294.0 million. Each of our direct and indirect U.S. subsidiaries guarantees the 2021 Notes.

During the second quarter of 2016, we repurchased 2,635 notes, or $2.6 million in face value of notes, for $2.2 million in cash. The gain from early extinguishment of these notes was approximately $0.4 million and is included in interest expense, net on our Consolidated Statements of Comprehensive Income.

During the six months ended June 30, 2016, we repurchased 30,310 notes, or $30.3 million in face value of notes, for $24.1 million in cash. The gain from early extinguishment of these notes was approximately $5.8 million and is included in interest expense, net on our Consolidated Statements of Comprehensive Income.

As of June 30, 2016, we were in compliance with the covenants of the related indenture.

Revolving Line of Credit and Term Loan

Our senior secured credit facility (the “Credit Facility”) consists of (a) a $150.0 million amortizing term loan (the “Term Loan”) and (b) a $600.0 million revolving line of credit (the “Revolving Line”), which includes (i) a $75.0 million sublimit for the issuance of letters of credit, (ii) a $50.0 million sublimit for swing line loans and (iii) a $75.0 million sublimit for loans in certain foreign currencies available to us and certain wholly owned Company foreign subsidiaries (the “Foreign Borrowers”). We may, subject to applicable conditions and subject to obtaining commitments from lenders, request an increase in the Revolving Line of up to $200.0 million in aggregate (the “Accordion”). As of June 30, 2016, the interest rate on amounts outstanding under the Credit Facility was 2.20% and we were in compliance with the covenants of the Credit Facility.

Required principal amortization payments under the Term Loan are as follows:



Dollars in thousands	Repayment Amount
Remainder of 2016	$	7,500
2017	15,000
2018	20,625
2019	86,250
Total	$	129,375