Notes Payable, Long-Term Debt and Other Obligations (Tables)

3 Months Ended

Mar. 31, 2015

Debt Disclosure [Abstract]

Notes payable, long-term debt and other obligations

Notes payable, long-term debt and other obligations consist of:

	March 31, 2015			December 31, 2014
Vector:
7.75% Senior Secured Notes due 2021, including premium of $8,968 and $9,275	$	608,968		$	609,275
6.75% Variable Interest Senior Convertible Note due 2015	—			25,000
7.5% Variable Interest Senior Convertible Notes due 2019, net of unamortized discount of $143,661 and $146,634*	86,339			83,366
5.5% Variable Interest Senior Convertible Debentures due 2020, net of unamortized discount of $95,870 and $98,831*	162,880			159,919
Liggett:
Revolving credit facility	14,642			17,767
Term loan under credit facility	3,515			3,589
Equipment loans	12,249			13,966
Other	404			469
Total notes payable, long-term debt and other obligations	888,997			913,351
Less:
Current maturities	(20,864		)	(52,640		)
Amount due after one year	$	868,133		$	860,711

______________________

* The fair value of the derivatives embedded within the 6.75% Variable Interest Senior Convertible Note ($0 at March 31, 2015 and $884 at December 31, 2014, respectively), the 7.5% Variable Interest Senior Convertible Notes ($83,662 at March 31, 2015 and $87,638 at December 31, 2014, respectively) and the 5.5% Variable Interest Senior Convertible Debentures ($78,377 at March 31, 2015 and $80,864 at December 31, 2014, respectively), is separately classified as a derivative liability in the condensed consolidated balance sheets.

Schedule of conversion rates for all convertible debt outstanding

The conversion rates for all convertible debt outstanding as of March 31, 2015 are summarized below:

	March 31, 2015
	Conversion Price		Shares per $1,000
7.5% Variable Interest Senior Convertible Notes due 2019	$	16.78	59.5946
5.5% Variable Interest Senior Convertible Debentures due 2020	$	25.87	38.6563

Schedule of non-cash interest expense - Vector

Non-Cash Interest Expense - Vector:

	Three Months Ended
	March 31,
	2015		2014
Amortization of debt discount, net	$	5,627	$	12,456
Amortization of deferred finance costs	966		708
Accelerated interest expense on 6.75% Variable Interest Senior Convertible Note converted	—		3,679
	$	6,593	$	16,843

Schedule of fair value of notes payable and long-term debt

Fair Value of Notes Payable and Long-Term Debt:

	March 31, 2015				December 31, 2014
	Carrying		Fair		Carrying		Fair
	Value		Value		Value		Value
Notes payable and long-term debt	$	888,997	$	1,272,253	$	913,351	$	1,313,711