7.Long-Term Debt

Fair Value of our Long-Term Debt

The following table summarizes the carrying amount and fair value of our debt facilities as of September 30, 2017 and December 31, 2016:


	As of
	September 30, 2017				December 31, 2016
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(In thousands)
4 5/8% Senior Notes due 2017 (1)	$	—	$	—	$	900,000	$	913,887
4 1/4% Senior Notes due 2018 (2)		1,200,000		1,212,540		1,200,000		1,228,464
7 7/8% Senior Notes due 2019		1,400,000		1,531,992		1,400,000		1,559,698
5 1/8% Senior Notes due 2020		1,100,000		1,155,638		1,100,000		1,141,866
6 3/4% Senior Notes due 2021		2,000,000		2,201,800		2,000,000		2,178,880
5 7/8% Senior Notes due 2022		2,000,000		2,131,660		2,000,000		2,114,780
5 % Senior Notes due 2023		1,500,000		1,540,290		1,500,000		1,500,315
5 7/8% Senior Notes due 2024		2,000,000		2,095,260		2,000,000		2,064,000
7 3/4% Senior Notes due 2026		2,000,000		2,295,840		2,000,000		2,270,900
Other notes payable		11,509		11,509		12,606		12,606
Subtotal		13,211,509	$	14,176,529		14,112,606	$	14,985,396
Unamortized deferred financing costs and debt discounts, net		(33,199)				(40,123)
Capital lease obligations (3)		112,967				140,885
Total long-term debt and capital lease obligations (including current portion)	$	13,291,277			$	14,213,368

(1)

On July 17, 2017, we redeemed the principal balance of our 4 5/8% Senior Notes due 2017.

(2)

Our 4 1/4% Senior Notes due 2018 mature on April 1, 2018 and are classified as “Current portion of long-term debt and capital lease obligations” on our Condensed Consolidated Balance Sheets as of September 30, 2017.

(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).