9.Long-Term Debt and Finance Lease Obligations

Fair Value of our Long-Term Debt

The following table summarizes the carrying amount and fair value of our debt facilities as of March 31, 2019 and December 31, 2018:


	As of
	March 31, 2019				December 31, 2018
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(In thousands)
7 7/8% Senior Notes due 2019 (1)	$	1,295,007	$	1,317,501	$	1,317,372	$	1,343,298
5 1/8% Senior Notes due 2020		1,100,000		1,110,670		1,100,000		1,089,957
6 3/4% Senior Notes due 2021		2,000,000		2,064,620		2,000,000		1,974,940
5 7/8% Senior Notes due 2022		2,000,000		1,941,280		2,000,000		1,833,140
5% Senior Notes due 2023		1,500,000		1,359,270		1,500,000		1,247,445
5 7/8% Senior Notes due 2024		2,000,000		1,693,000		2,000,000		1,611,960
2 3/8% Convertible Notes due 2024		1,000,000		822,950		1,000,000		801,200
7 3/4% Senior Notes due 2026		2,000,000		1,748,960		2,000,000		1,653,720
3 3/8% Convertible Notes due 2026		3,000,000		2,544,060		3,000,000		2,436,690
Other notes payable		31,232		31,232		39,715		39,715
Subtotal		15,926,239	$	14,633,543		15,957,087	$	14,032,065
Unamortized debt discount on the Convertible Notes		(810,023)				(833,906)
Unamortized deferred financing costs and other debt discounts, net		(35,136)				(37,388)
Finance lease obligations (2)		60,752				66,984
Total long-term debt and finance lease obligations (including current portion)	$	15,141,832			$	15,152,777

(1)

During the year ended December 31, 2018 and the three months ended March 31, 2019, we repurchased $83 million and $22 million, respectively, of our 7 7/8% Senior Notes due 2019 in open market trades. The remaining balance of $1.295 billion matures on September 1, 2019.

(2)

Disclosure regarding fair value of finance 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).