Debt and Other Obligations (Tables)

3 Months Ended

Mar. 31, 2015

Debt and Other Obligations [Abstract]



	Original Issue Date	Contractual Maturity Date (a)		Outstanding Balance as of March 31, 2015			Outstanding Balance as of December 31, 2014		Stated Interest Rate as of March 31, 2015(a)(b)
Bank debt - variable rate:
2012 Revolver	Jan. 2012	Nov. 2018/Jan. 2019		$	860,000	^(c)	$	695,000	1.9	%
Tranche A Term Loans	Jan. 2012	Nov. 2018/Jan. 2019		641,797			645,938		1.9	%
Tranche B Term Loans	Jan. 2012	Jan. 2019/Jan. 2021		2,828,348		^(e)	2,835,509		3.0	%
Total bank debt				4,330,145			4,176,447
Securitized debt - fixed rate:
January 2010 Tower Revenue Notes	Jan. 2010	2037 - 2040	^(d)	1,600,000			1,600,000		6.0	%
August 2010 Tower Revenue Notes	Aug. 2010	2035 - 2040	^(d)	1,550,000			1,550,000		4.5	%
2009 Securitized Notes	July 2009	2019/2029		156,014			160,822		7.5	%
WCP Securitized Notes	Jan. 2010	Nov. 2040	^(d)	256,913			262,386		5.7	%
Total securitized debt				3,562,927			3,573,208
Bonds - fixed rate:
5.25% Senior Notes	Oct. 2012	Jan. 2023		1,649,969			1,649,969		5.3	%
2012 Secured Notes	Dec. 2012	Dec. 2017/Apr. 2023		1,500,000			1,500,000		3.4	%
4.875% Senior Notes	Apr. 2014	Apr. 2022		846,175			846,062		4.9	%
Total bonds				3,996,144			3,996,031
Other:
Capital leases and other obligations	Various	Various		180,875			175,175		Various
Total debt and other obligations				12,070,091			11,920,861
Less: current maturities and short-term debt and other current obligations				115,998			113,335
Non-current portion of long-term debt and other long-term obligations				$	11,954,093		$	11,807,526


(a)	See the 2014 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.


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


(c)	During January and February 2015, the Company amended its 2012 Credit Facility agreement and increased the capacity of the 2012 Revolver to an aggregate revolving commitment of approximately $2.2 billion. As of March 31, 2015, the undrawn availability under the 2012 Revolver is $1.4 billion.

(d)

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 2014 Form 10-K for additional information regarding these provisions.


(e)	As of March 31, 2015, 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 $564.1 million aggregate principal amount due January 2019.

See note 11 to our condensed consolidated financial statements regarding our May 2015 pricing of $1.0 billion of 2015 Tower Revenue Notes.

Schedule of Maturities of Long-term Debt

Contractual Maturities

The following are the scheduled contractual maturities of the total debt and other long-term obligations outstanding as of March 31, 2015. 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.



	Nine Months Ending December 31,		Years Ending December 31,												Unamortized Adjustments, Net			Total Debt and Other Obligations Outstanding
	2015		2016		2017		2018		2019		Thereafter		Total Cash Obligations		Unamortized Adjustments, Net			Total Debt and Other Obligations Outstanding
Scheduled contractual maturities	$	83,105	$	124,565	$	621,524	$	1,490,513	$	597,469	$	9,154,129	$	12,071,305	$	(1,214	)	$	12,070,091

Components of Interest Expense and Amortization of Deferred Financing Costs

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,
	2015			2014
Interest expense on debt obligations	$	122,703		$	125,519
Amortization of deferred financing costs	5,619			5,641
Amortization of adjustments on long-term debt	(881		)	(955		)
Amortization of interest rate swaps^(a)	7,491			16,182
Other, net of capitalized interest	(493		)	13
Total	$	134,439		$	146,400


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