Debt and Other Obligations (Tables)

3 Months Ended

Mar. 31, 2017

Debt and Other Obligations [Abstract]



	Original Issue Date	Contractual Maturity Date ^(a)		Balance as of March 31, 2017^(f)			Balance as of December 31, 2016^(f)		Stated Interest Rate as of March 31, 2017^(a)
Bank debt - variable rate:
2016 Revolver	Jan. 2016	Jan. 2022	^(e)	$	335,000	^(b)(d)	$	—	2.4	%
2016 Term Loan A	Jan. 2016	Jan. 2022	^(e)	2,441,545		^(e)	1,954,173		2.4	%
Total bank debt				2,776,545			1,954,173
Securitized debt - fixed rate:
Secured Notes, Series 2009-1, Class A-1	July 2009	Aug. 2019		46,059			51,416		6.3	%
Secured Notes, Series 2009-1, Class A-2	July 2009	Aug. 2029		69,405			68,737		9.0	%
Tower Revenue Notes, Series 2010-3	Jan. 2010	Jan. 2040	^(c)	1,244,704			1,244,237		6.1	%
Tower Revenue Notes, Series 2010-6	Aug. 2010	Aug. 2040	^(c)	994,006			993,557		4.9	%
Tower Revenue Notes, Series 2015-1	May 2015	May 2042	^(c)	296,733			296,573		3.2	%
Tower Revenue Notes, Series 2015-2	May 2015	May 2045	^(c)	691,545			691,285		3.7	%
Total securitized debt				3,342,452			3,345,805
Bonds - fixed rate:
5.250% Senior Notes	Oct. 2012	Jan. 2023		1,637,626			1,637,099		5.3	%
3.849% Secured Notes	Dec. 2012	Apr. 2023		991,625			991,279		3.9	%
4.875% Senior Notes	Apr. 2014	Apr. 2022		840,761			840,322		4.9	%
3.400% Senior Notes	Feb./May 2016	Feb. 2021		849,784			849,698		3.4	%
4.450% Senior Notes	Feb. 2016	Feb. 2026		890,374			890,118		4.5	%
3.700% Senior Notes	May 2016	June 2026		742,112			741,908		3.7	%
2.250% Senior Notes	Sept. 2016	Sept. 2021		694,441			693,893		2.3	%
4.000% Senior Notes	Feb. 2017	Sept. 2027		493,403		^(d)	—		4.0	%
Total bonds				7,140,126			6,644,317
Other:
Capital leases and other obligations	Various	Various		233,850			226,847		Various
Total debt and other obligations				13,492,973			12,171,142
Less: current maturities and short-term debt and other current obligations				112,882			101,749
Non-current portion of long-term debt and other long-term obligations				$	13,380,091		$	12,069,393


(a)	See the 2016 Form 10-K, including note 8, for additional information regarding the maturity and principal amortization provisions and interest rates relating to the Company's indebtedness.


(b)	As of March 31, 2017, the undrawn availability under the 2016 Revolver was $2.2 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 2016 Form 10-K for additional information regarding these provisions.


(d)	In February 2017 the Company issued $500 million aggregate principal amount of 4.000% senior unsecured notes with a final maturity date of March 2027 ("February 2017 Senior Notes"). The Company used the net proceeds from the February 2017 Senior Notes offering to repay a portion of the borrowings under the 2016 Revolver.


(e)	In February 2017, the Company entered into an amendment to the Credit Facility to (1) incur additional term loans in an aggregate principal amount of $500 million, and (2) extend the maturity of both the 2016 Term Loan A and the 2016 Revolver to January 2022.


(f)	Balances reflect debt issuance costs as a direct reduction from the respective carrying amounts of debt, with the exception of debt issuance costs associated with the Company's revolving credit facilities. See note 2.

See note 12 for information regarding our May 2017 financing activities.

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 of the Company outstanding as of March 31, 2017. 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.



	Nine Months Ending December 31,		Years Ending December 31,												Unamortized Adjustments, Net			Total Debt and Other Obligations Outstanding
	2017		2018		2019		2020		2021		Thereafter		Total Cash Obligations		Unamortized Adjustments, Net			Total Debt and Other Obligations Outstanding
Scheduled contractual maturities	$	87,221	$	111,470	$	164,485	$	152,764	$	1,822,635	$	11,244,908	$	13,583,483	$	(90,510	)	$	13,492,973

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,
	2017			2016
Interest expense on debt obligations	$	131,651		$	122,167
Amortization of deferred financing costs and adjustments on long-term debt	4,551			5,106
Other, net of capitalized interest	(1,715		)	(895		)
Total	$	134,487		$	126,378