Debt and Other Long-Term Liabilities

9 Months Ended

Sep. 30, 2015

Long-term Debt, Unclassified [Abstract]

Debt and Other Long-Term Liabilities

Note 8: 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
As of September 30, 2015:
Principal	$	350,000		$	300,000		$	139,688		$	55,000	$	844,688
Discount	(3,530		)	(3,670		)	(279		)	—		(7,479		)
Total	346,470			296,330			139,409			55,000		837,209			$	8,177		$	9,497	$	19,260	$	874,143
Less: current portion	—			—			(12,188		)	—		(12,188		)	(5,680		)	—		—		(17,868		)
Total long-term portion	$	346,470		$	296,330		$	127,221		$	55,000	$	825,021		$	2,497		$	9,497	$	19,260	$	856,275
Unamortized deferred financing fees(1)	$	534		$	1,213		$	—		$	2,467	$	4,214									$	4,214

	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
As of December 31, 2014:
Principal	$	350,000		$	300,000		$	146,250		$	160,000	$	956,250
Discount	(4,296		)	(4,152		)	(335		)	—		(8,783		)
Total	345,704			295,848			145,915			160,000		947,467			$	15,391		$	13,576	$	17,651	$	994,085
Less: current portion	—			—			(9,390		)	—		(9,390		)	(11,026		)	—		—		(20,416		)
Total long-term portion	$	345,704		$	295,848		$	136,525		$	160,000	$	938,077		$	4,365		$	13,576	$	17,651	$	973,669
Unamortized deferred financing fees(1)	$	649		$	1,372		$	—		$	2,965	$	4,986									$	4,986

(1) Deferred financing fees are recorded in other long-term assets in our Consolidated Balance Sheets and are amortized on a straight line basis over the life of the related loan.

Interest Expense

Dollars in thousands	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2015		2014		2015		2014
Cash interest expense	$	11,297	$	11,519	$	34,191	$	29,654
Non-cash interest expense:
Amortization of debt discount	435		616		1,304		2,171
Amortization of deferred financing fees	258		285		774		1,252
Total non-cash interest expense	693		901		2,078		3,423
Total cash and non-cash interest expense	11,990		12,420		36,269		33,077
Loss from early extinguishment of debt	—		55		—		2,018
Total interest expense	$	11,990	$	12,475	$	36,269	$	35,095

Senior Unsecured Notes Due 2019

On March 12, 2013, we and certain subsidiaries of ours, as subsidiary guarantors, entered into an indenture pursuant to which we issued $350.0 million principal amount of 6.000% Senior Notes due 2019 (the “Senior Notes due 2019”) at par for proceeds, net of expenses, of $343.8 million. The expenses were allocated between debt discount and deferred financing fees based on their nature. As of September 30, 2015, we were in compliance with the covenants of the related indenture.

Senior Unsecured Notes Due 2021

On June 9, 2014, we and certain subsidiaries of ours, as subsidiary guarantors, entered into an indenture pursuant to which we issued $300.0 million principal amount of 5.875% Senior Notes due 2021 (the “Senior Notes due 2021”) at par for proceeds, net of expenses, of $294.0 million. The expenses were allocated between debt discount and deferred financing fees based on their nature.

During the second quarter of 2015, we registered the Senior Notes due 2021 and related guarantees under the Securities Act of 1933, as amended (the “Securities Act”) to allow holders to exchange the notes and related guarantees for the same principal amount of a new issue and related guarantees (collectively, the “Exchange Notes”) with substantially identical terms, except that the Exchange Notes are generally freely transferable under the Securities Act. The full principal amount of the Senior Notes due 2021 was exchanged for the Exchange Notes.

As of September 30, 2015, we were in compliance with the covenants of the related indenture.

Revolving Line of Credit and Term Loan

On June 24, 2014, we entered into the Third Amended and Restated Credit Agreement (the “Amended and Restated Credit Agreement”) providing for a senior secured credit facility (the “Credit Facility”). The Amended and Restated Credit Agreement amended and restated in its entirety the Second Amended and Restated Credit Agreement dated as of November 20, 2007 and amended and restated as of April 29, 2009 and as of July 15, 2011 and all amendments and restatements thereto.

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 swingline 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 September 30, 2015, the interest rate on amounts outstanding under the Credit Facility was 1.95% and we were in compliance with the covenants of the Credit Facility.

The Amended and Restated Credit Agreement requires principal amortization payments under the Term Loan as follows:

Dollars in thousands	Repayment Amount
Remainder of 2015	$	2,813
2016	13,125
2017	15,000
2018	18,750
2019	90,000
Total	$	139,688