Long-Term Debt

3 Months Ended

Mar. 31, 2012

Long-Term Debt

Long-Term Debt

9.             Long-Term Debt

Fair Value of our Long-Term Debt

The following table summarizes the carrying and fair values of our debt facilities:

	As of
	March 31, 2012				December 31, 2011
	Carrying				Carrying
	Value		Fair Value		Value		Fair Value
	(In thousands)
7 % Senior Notes due 2013	$	500,000	$	535,625	$	500,000	$	535,000
6 5/8% Senior Notes due 2014	1,000,000		1,090,000		1,000,000		1,060,000
7 3/4% Senior Notes due 2015	750,000		851,970		750,000		817,500
7 1/8% Senior Notes due 2016	1,500,000		1,662,750		1,500,000		1,593,750
7 7/8% Senior Notes due 2019	1,400,000		1,610,000		1,400,000		1,589,000
6 3/4% Senior Notes due 2021	2,000,000		2,005,000		2,000,000		2,140,000
Mortgages and other notes payable	96,252		96,252		71,871		71,871
Subtotal	7,246,252		$	7,851,597	7,221,871		$	7,807,121
Capital lease obligations (1)	264,154		NA		271,908		NA
Total long-term debt and capital lease obligations (including current portion)	$	7,510,406			$	7,493,779

(1)Disclosure regarding fair value of capital leases is not required.

We estimated the fair value of our publicly traded long-term debt using market prices in less active markets (Level 2).