DEBT (Tables)

12 Months Ended

Dec. 31, 2013

Debt Disclosure [Abstract]

Components of debt

The components of debt are as follows:

	December 31, 2013						December 31, 2012
	Principal		Unamortized Premium		Total		Principal			Unamortized Premium (Discount)			Total
	(In Thousands)
Credit facility	$	—	$	—	$	—	$	65,000		$	—		$	65,000
7% senior subordinated notes due 2013(1)	—		—		—		12			—			12
8½% senior notes due 2014(2)	—		—		—		300,000			(3,277		)	296,723
7¼% senior notes due 2019(3)	577,914		178		578,092		1,000,000			365			1,000,365
7½% senior notes due 2020(4)	222,087		—		222,087		500,000			—			500,000
Total debt	800,001		178		800,179		1,865,012			(2,912		)	1,862,100
Less: current portion of long-term debt	—		—		—		(12		)	—			(12		)
Long-term debt	$	800,001	$	178	$	800,179	$	1,865,000		$	(2,912	)	$	1,862,088

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(1) In June 2013, Forest redeemed the 7% senior subordinated notes due 2013 at their maturity.

(2) In March 2013, Forest redeemed the 8½% senior notes due 2014 at 107.11% of par, recognizing a loss of $25.2 million upon redemption.

(3) In November 2013, Forest redeemed $422.1 million in principal amount of 7¼% senior notes due 2019 at 102.77% of par, recognizing a net loss of $14.7 million upon redemption.

(4) In November 2013, Forest redeemed $277.9 million in principal amount of 7½% senior notes due 2020 at 101.50% of par, recognizing a loss of $8.8 million upon redemption.

Debt instrument redemption

The 7½% Notes are redeemable, at Forest’s option, at the prices set forth below, expressed as percentages of the principal amount redeemed, plus accrued but unpaid interest, if redeemed during the twelve-month period beginning on September 15 of the years indicated below:

2016	103.750	%
2017	101.875	%
2018 and thereafter	100.000	%

The 7¼% Notes are redeemable, at Forest’s option, at the prices set forth below, expressed as percentages of the principal amount redeemed, plus accrued but unpaid interest, if redeemed during the twelve-month period beginning on June 15 of the years indicated below:

2012	103.625	%
2013	102.417	%
2014	101.208	%
2015 and thereafter	100.000	%

Schedule of maturities of long-term debt

Principal maturities of Forest’s debt at December 31, 2013 are as follows:

	Principal Maturities
	(In Thousands)
2014	$	—
2015	—
2016	—
2017	—
2018	—
Thereafter	800,001