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, 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
7 3/4% Senior Notes due 2026		2,000,000		1,748,960		2,000,000		1,653,720
Other notes payable		10,346		10,346		10,346		10,346
Subtotal		11,905,353	$	11,245,647		11,927,718	$	10,764,806
Unamortized deferred financing costs and debt discounts, net		(21,373)				(23,215)
Finance lease obligations (2)		60,752				66,984
Total long-term debt and finance lease obligations (including current portion)	$	11,944,732			$	11,971,487

(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).