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

3 Months Ended

Mar. 31, 2016

Debt Disclosure [Abstract]

Notes payable, long-term debt and other obligations

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

	March 31, 2016			December 31, 2015
Vector:
7.75% Senior Secured Notes due 2021, including premium of $7,685 and $8,014	$	607,685		$	608,014
7.5% Variable Interest Senior Convertible Notes due 2019, net of unamortized discount of $127,301 and $132,119*	102,699			97,881
5.5% Variable Interest Senior Convertible Debentures due 2020, net of unamortized discount of $82,668 and $86,136*	176,082			172,614
Liggett:
Revolving credit facility	21,157			3,213
Term loan under credit facility	3,220			3,269
Equipment loans	8,227			9,716
Other	384			461
Notes payable, long-term debt and other obligations	919,454			895,168
Less:
Debt issuance costs	(28,973		)	(30,141		)
Total notes payable, long-term debt and other obligations	890,481			865,027
Less:
Current maturities	(25,927		)	(8,919		)
Amount due after one year	$	864,554		$	856,108

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* The fair value of the derivatives embedded within the 7.5% Variable Interest Senior Convertible Notes ($66,558 at March 31, 2016 and $72,083 at December 31, 2015, respectively) and the 5.5% Variable Interest Senior Convertible Debentures ($67,790 at March 31, 2016 and $71,959 at December 31, 2015, 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, 2016 and December 31, 2015, are summarized below:

	March 31, 2016			December 31, 2015
	Conversion Price		Shares per $1,000	Conversion Price		Shares per $1,000
7.5% Variable Interest Senior Convertible Notes due 2019	$	15.98	62.5743	$	15.98	62.5743
5.5% Variable Interest Senior Convertible Debentures due 2020	$	24.64	40.5891	$	24.64	40.5891

Schedule of non-cash interest expense - Vector

Non-Cash Interest Expense - Vector:

	Three Months Ended
	March 31,
	2016		2015
Amortization of debt discount, net	$	7,956	$	5,627
Amortization of debt issuance costs	1,168		966
	$	9,124	$	6,593

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

Fair Value of Notes Payable and Long-Term Debt:

	March 31, 2016					December 31, 2015
	Carrying			Fair		Carrying			Fair
	Value			Value		Value			Value
Notes payable and long-term debt	$	919,454	(1)	$	1,292,584	$	895,168	(1)	$	1,297,875

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⁽¹⁾ The carrying value does not include the carrying value of the embedded derivative. See Note 11.