7. DEBT:

The Company’s debt and capital lease obligations at March 31, 2015 and December 31, 2014 consisted of (in thousands):


	March 31, 2015			December 31, 2014
$1 Billion Credit Facility, interest at LIBOR plus 1.85%, maturing April 18, 2017	$	757,500		$	586,500
$400 Million Term Loan B Facility, interest at LIBOR plus 3.0%, maturing January 15, 2021		397,000			398,000
$350 Million Senior Notes, interest at 5.0%, maturing April 15, 2021		350,000			350,000
AC Hotel Note Payable, terms as set forth in Note 1		6,000			6,000
Capital lease obligations		898			1,055

Total debt		1,511,398			1,341,555
Less amounts due within one year		(6,224	)		(377	)

Total long-term debt	$	1,505,174		$	1,341,178

At March 31, 2015, the Company was in compliance with all of its covenants related to its outstanding debt.

See Note 15 for further disclosures related to the Company’s debt.

Warrants Related to 3.75% Convertible Senior Notes

Separately and concurrently with the 2009 issuance of its previous Convertible Notes, the Company also entered into warrant transactions whereby it sold common stock purchase warrants to counterparties affiliated with the initial purchasers of the Convertible Notes. The warrants entitled the counterparties to purchase shares of the Company’s common stock. Pursuant to December 2014 agreements with the remaining note hedge counterparties, the Company cash settled the remaining 4.7 million warrants in the first quarter of 2015. As the modification required the warrants to be cash settled, the fair value of the warrants was reclassified from stockholders’ equity to a derivative liability on the modification date. In the first quarter of 2015, the Company settled this repurchase for total consideration of $154.7 million and recorded a $20.2 million loss on the change in the fair value of the derivative liability from December 31, 2014 through the settlement date, which is included in other gains and losses, net in the accompanying condensed consolidated statement of operations for the three months ended March 31, 2015.