Long-Term Debt and Finance Lease Obligations

3 Months Ended

Mar. 31, 2021

Long-Term Debt and Finance Lease Obligations

Long-Term Debt and Finance Lease Obligations

8. 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, 2021 and December 31, 2020:

	As of
	March 31, 2021				December 31, 2020
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(In thousands)
6 3/4% Senior Notes due 2021 (1)		1,794,646		1,811,480		2,000,000		2,047,260
5 7/8% Senior Notes due 2022		2,000,000		2,094,220		2,000,000		2,095,820
5 % Senior Notes due 2023		1,500,000		1,560,705		1,500,000		1,566,300
5 7/8% Senior Notes due 2024		2,000,000		2,101,980		2,000,000		2,099,580
7 3/4% Senior Notes due 2026		2,000,000		2,203,100		2,000,000		2,236,520
7 3/8% Senior Notes due 2028		1,000,000		1,052,940		1,000,000		1,070,130
Other notes payable		23,565		23,565		23,565		23,565
Subtotal		10,318,211	$	10,847,990		10,523,565	$	11,139,175
Unamortized deferred financing costs and debt discounts, net		(11,310)				(12,684)
Finance lease obligations (2)		147,358				160,609
Total long-term debt and finance lease obligations (including current portion)	$	10,454,259			$	10,671,490

(1) During the three months ended March 31, 2021, we repurchased $205 million of our 6 3/4% Senior Notes due 2021 in open market trades.  The remaining balance of $1.795 billion matures on June 1, 2021.

(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).