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 June 30, 2015 and December 31, 2014:

	As of
	June 30, 2015					December 31, 2014
	Carrying Value			Fair Value		Carrying Value			Fair Value
	(In thousands)
7 3/4% Senior Notes due 2015 (1)	$	—		$	—	$	650,001		$	664,321
7 1/8% Senior Notes due 2016 (2)	1,500,000			1,540,680		1,500,000			1,580,625
4 5/8% Senior Notes due 2017	900,000			926,298		900,000			933,750
4 1/4% Senior Notes due 2018	1,200,000			1,221,000		1,200,000			1,245,600
7 7/8% Senior Notes due 2019	1,400,000			1,554,140		1,400,000			1,589,700
5 1/8% Senior Notes due 2020	1,100,000			1,136,498		1,100,000			1,100,000
6 3/4% Senior Notes due 2021	2,000,000			2,090,000		2,000,000			2,157,500
5 7/8% Senior Notes due 2022	2,000,000			2,000,000		2,000,000			2,055,000
5% Senior Notes due 2023	1,500,000			1,407,045		1,500,000			1,470,000
5 7/8% Senior Notes due 2024	2,000,000			1,920,000		2,000,000			2,019,800
Other notes payable	33,049			33,049		34,084			34,084

Subtotal	13,633,049			$	13,828,710	14,284,085			$	14,850,380

Unamortized deferred financing costs and debt discounts, net	(46,286		)			(51,473		)
Capital lease obligations (3)	180,911					194,914

Total long-term debt and capital lease obligations (including current portion)	$	13,767,674				$	14,427,526

(1)

On June 1, 2015, we redeemed the principal balance of our 7 3/4% Senior Notes due 2015.

(2)

Our 7 1/8% Senior Notes due 2016 mature on February 1, 2016 and have been reclassified to “Current portion of long-term debt and capital lease obligations” on our Condensed Consolidated Balance Sheets as of June 30, 2015.

(3)

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).