Debt (Tables)

3 Months Ended

Mar. 31, 2014

The Company is in compliance with all covenants under its financing arrangements. The components of the Company’s consolidated debt and capital lease obligations are as follows (in thousands):



	March 31, 2014			December 31, 2013
Encore revolving credit facility	$	223,000		$	356,000
Encore term loan facility	151,828			140,625
Encore senior secured notes	55,000			58,750
Encore convertible notes	448,500			287,500
Less: Debt discount	(57,881		)	(42,240		)
Propel facilities	174,815			170,630
Cabot senior secured notes	1,150,437			603,272
Add: Debt premium	79,964			43,583
Cabot senior revolving credit facility	133,384			—
Preferred equity certificates	222,473			199,821
Capital lease obligations	11,084			12,219
Other	19,529			20,271
	$	2,612,133		$	1,850,431

Balances of the Liability and Equity Components

The balances of the liability and equity components of all of the convertible senior notes outstanding were as follows (in thousands):



	March 31, 2014			December 31, 2013
Liability component—principal amount	$	448,500		$	287,500
Unamortized debt discount	(57,881		)	(42,240		)
Liability component—net carrying amount	$	390,619		$	245,260
Equity component	$	53,133		$	46,954

Convertible Notes [Member]

Interest Expense

Interest expense related to the convertible notes was as follows (in thousands):



	Three Months Ended March 31,
	2014		2013
Interest expense—stated coupon rate	$	2,456	$	858
Interest expense—amortization of debt discount	1,755		607
Total interest expense—convertible notes	$	4,211	$	1,465