Debt and Other Obligations



	Original Issue Date	Contractual Maturity Date (d)		Outstanding Balance as of March 31, 2014			Outstanding Balance as of December 31, 2013		Stated Interest Rate as of March 31, 2014(a)(d)
Bank debt - variable rate:
2012 Revolver	Jan. 2012	Nov. 2018/Jan. 2019		$	368,000	^(b)	$	374,000	2.2	%
Tranche A Term Loans	Jan. 2012	Nov. 2018/Jan. 2019		658,359			662,500		2.2	%
Tranche B Term Loans	Jan. 2012	Jan. 2019/Jan. 2021	^(e)	2,856,990		^(e)	2,864,150		3.3	%
Total bank debt				3,883,349			3,900,650
Securitized debt - fixed rate:
January 2010 Tower Revenue Notes	Jan. 2010	2035 - 2040	^(c)	1,900,000			1,900,000		5.8	%
August 2010 Tower Revenue Notes	Aug. 2010	2035 - 2040	^(c)	1,550,000			1,550,000		4.5	%
2009 Securitized Notes	July 2009	2019/2029		175,071			179,792		7.4	%
WCP Securitized Notes	Jan. 2010	Nov. 2040	^(c)	279,730			286,171		5.6	%
Total securitized debt				3,904,801			3,915,963
Bonds - fixed rate:
7.125% Senior Notes	Oct. 2009	Nov. 2019		498,390			498,332		7.1	%
5.25% Senior Notes	Oct. 2012	Jan. 2023		1,649,970			1,649,970		5.3	%
2012 Senior Notes	Dec. 2012	Dec. 2017/Apr. 2023		1,500,000			1,500,000		3.4	%
Total bonds				3,648,360			3,648,302
Other:
Capital leases and other obligations	Various	Various		136,816			129,585		Various
Total debt and other obligations				11,573,326			11,594,500
Less: current maturities and short-term debt and other current obligations				105,467			103,586
Non-current portion of long-term debt and other long-term obligations				$	11,467,859		$	11,490,914

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(a)	Represents the weighted-average stated interest rate.


(b)	As of March 31, 2014, the undrawn availability under the $1.5 billion 2012 Revolver is $1.1 billion.

(c)

If the respective series of such debt is not paid in full on or prior to an applicable date then Excess Cash Flow (as defined in the indenture) of the issuers of such notes will be used to repay principal of the applicable series, and additional interest (of an additional approximately 5% per annum) will accrue on the respective series. See the 2013 Form 10-K for additional information regarding these provisions.


(d)	See the 2013 Form 10-K, including note 7, for additional information regarding the maturity and principal amortization provisions and interest rates relating to the Company's indebtedness.

(e)

During January 2014, the Company amended the 2012 Credit Facility by extending the maturity date on a portion of the Tranche B Term Loans, including Incremental Tranche B Term Loans, to January 2021. As of March 31, 2014, the Company's Tranche B Term Loans, including the Incremental Tranche B Term Loans and the Incremental Tranche B-2 Term Loans, consist of $2.3 billion aggregate principal amount due January 2021 and $569.8 million aggregate principal amount due January 2019.

See note 13 for a discussion of the April 2014 issuance of $850.0 million of senior notes due in April 2022 ("4.875% Senior Notes"), the April 2014 repayment of $300.0 million of the January 2010 Tower Revenue Notes with an anticipated repayment date in January 2015, and the May 2014 redemption of all of the previously outstanding 7.125% Senior Notes (collectively, "2014 Refinancings").

Contractual Maturities

The following are the scheduled contractual maturities of the total debt and other long-term obligations outstanding as of March 31, 2014. These maturities reflect contractual maturity dates and do not consider the principal payments that will commence following the anticipated repayment dates on the Tower Revenue Notes and the rapid amortization date on the WCP Securitized Notes. See also note 13.



	Nine Months Ended December 31,		Years Ending December 31,												Unamortized Adjustments, Net		Total Debt and Other Obligations Outstanding
	2014		2015		2016		2017		2018		Thereafter		Total Cash Obligations		Unamortized Adjustments, Net		Total Debt and Other Obligations Outstanding
Scheduled contractual maturities	$	76,614	$	100,664	$	115,313	$	613,459	$	992,133	$	9,670,144	$	11,568,327	$	4,999	$	11,573,326

Interest Expense and Amortization of Deferred Financing Costs

The components of "interest expense and amortization of deferred financing costs" are as follows:



	Three Months Ended March 31,
	2014			2013
Interest expense on debt obligations	$	125,519		$	127,449
Amortization of deferred financing costs	5,641			9,047
Amortization of adjustments on long-term debt	(955		)	11,436
Amortization of interest rate swaps^(a)	16,182			16,262
Other, net of capitalized interest	13			175
Total	$	146,400		$	164,369


(a)	Amounts reclassified from accumulated other comprehensive income (loss).