Indebtedness (Senior Notes and Other Debt)

12 Months Ended

Dec. 31, 2013

Senior Notes and Other Debt

Indebtedness consisted of the following as of December 31, 2014 (the difference between the face value and the carrying value is unamortized discount):



(In thousands)	Interest Rate	Face Value		2014 Carrying Value		2013 Carrying Value
Senior notes due on:
May 15, 2015	5.6%	$	200,000	$	199,930	$	199,744
August 15, 2019	6.15%	150,000		149,342		149,199
September 15, 2019	7.375%	300,000		298,800		298,546
September 15, 2020	5.375%	300,000		298,074		297,738
January 1, 2022	8.7%	76,503		76,048		76,004
March 15, 2022	4.625%	350,000		346,999		346,581
February 15, 2037	6.25%	250,000		247,566		247,457
August 1, 2044	4.75%	350,000		344,545		—
Subsidiary debt (1)	Various	153,549		154,223		77,173
Total senior notes and other debt		$	2,130,052	$	2,115,527	$	1,692,442
Subordinated debentures	5.625%	$	350,000	$	340,060	$	339,800

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(1) Subsidiary debt is due as follows: $76 million in 2015, $33 million in 2016, $42 million in 2017 and $3 million thereafter.

In 2013, the Company issued $350 million aggregate principal amount of 5.625% Subordinated Debentures due April 2053. At December 31, 2014, the carrying value of the debentures, net of unamortized discount, was $340 million.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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