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

6 Months Ended

Jun. 30, 2015

Debt Disclosure [Abstract]

Notes payable, long-term debt and other obligations

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

	June 30, 2015			December 31, 2014
Vector:
7.75% Senior Secured Notes due 2021, including premium of $8,656 and $9,275	$	608,656		$	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 $140,259 and $146,634*	89,741			83,366
5.5% Variable Interest Senior Convertible Debentures due 2020, net of unamortized discount of $92,747 and $98,831*	166,003			159,919
Liggett:
Revolving credit facility	—			17,767
Term loan under credit facility	3,442			3,589
Equipment loans	10,873			13,966
Other	358			469
Total notes payable, long-term debt and other obligations	879,073			913,351
Less:
Current maturities	(6,074		)	(52,640		)
Amount due after one year	$	872,999		$	860,711

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* The fair value of the derivatives embedded within the 6.75% Variable Interest Senior Convertible Note ($0 at June 30, 2015 and $884 at December 31, 2014, respectively), the 7.5% Variable Interest Senior Convertible Notes ($80,283 at June 30, 2015 and $87,638 at December 31, 2014, respectively) and the 5.5% Variable Interest Senior Convertible Debentures ($76,500 at June 30, 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 June 30, 2015 and December 31, 2014, are summarized below:

	June 30, 2015			December 31, 2014
	Conversion Price		Shares per $1,000	Conversion Price		Shares per $1,000
6.75% Variable Interest Senior Convertible Note due 2014	$	—	—	$	11.22	89.1021
7.5% Variable Interest Senior Convertible Notes due 2019	$	16.78	59.5946	$	16.78	59.5946
5.5% Variable Interest Senior Convertible Debentures due 2020	$	25.87	38.6563	$	25.87	38.6563

Schedule of non-cash interest expense - Vector

Non-Cash Interest Expense - Vector:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2015		2014		2015		2014
Amortization of debt discount, net	$	6,213	$	7,563	$	11,840	$	20,019
Amortization of deferred finance costs	1,022		1,055		1,988		1,763
Accelerated interest expense on 6.75% Variable Interest Senior Convertible Note converted	—		—		—		3,679
Accelerated interest expense on 6.75% Variable Interest Senior Convertible Exchange Notes converted	—		439		—		439
	$	7,235	$	9,057	$	13,828	$	25,900

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

Fair Value of Notes Payable and Long-Term Debt:

	June 30, 2015					December 31, 2014
	Carrying			Fair		Carrying			Fair
	Value			Value		Value			Value
Notes payable and long-term debt	$	879,073	(1)	$	1,282,056	$	913,351	(1)	$	1,313,711

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⁽¹⁾ The carrying value does not include the carrying value of the embedded derivative. See Note 9.