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

9 Months Ended

Sep. 30, 2018

Debt Disclosure [Abstract]

Notes payable, long-term debt and other obligations

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

	September 30, 2018			December 31, 2017
Vector:
6.125% Senior Secured Notes due 2025	$	850,000		$	850,000
7.5% Variable Interest Senior Convertible Notes due 2019, net of unamortized discount of $23,130 and $69,253*	206,870			160,747
5.5% Variable Interest Senior Convertible Debentures due 2020, net of unamortized discount of $38,360 and $53,687*	220,390			205,063
Liggett:
Revolving credit facility	28,239			31,614
Term loan under credit facility	2,483			2,704
Equipment loans	1,407			2,662
Other	524			752
Notes payable, long-term debt and other obligations	1,309,913			1,253,542
Less:
Debt issuance costs	(16,785		)	(25,478		)
Total notes payable, long-term debt and other obligations	1,293,128			1,228,064
Less:
Current maturities	(234,756		)	(33,820		)
Amount due after one year	$	1,058,372		$	1,194,244

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* The fair value of the derivatives embedded within the 7.5% Variable Interest Senior Convertible Notes ($12,851 at September 30, 2018 and $31,164 at December 31, 2017, respectively) and the 5.5% Variable Interest Senior Convertible Debentures ($32,273 at September 30, 2018 and $45,249 at December 31, 2017, respectively), is separately classified as a derivative liability in the condensed consolidated balance sheets.

Schedule of non-cash interest expense - Vector

Non-Cash Interest Expense and Loss on Extinguishment of Debt - Vector:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2018		2017		2018		2017
Amortization of debt discount, net	$	22,871	$	14,978	$	61,450	$	40,240
Amortization of debt issuance costs	3,158		2,393		8,783		6,626
Loss on extinguishment of 7.75% Senior Secured Notes	—		—		—		1,754		(1)
	$	26,029	$	17,371	$	70,233	$	48,620

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⁽¹⁾ The non-cash loss on extinguishment of the 7.75% Senior Secured Notes is a component of the $34,110 loss on the extinguishment of debt.

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

Fair Value of Notes Payable and Long-Term Debt:

	September 30, 2018					December 31, 2017
	Carrying			Fair		Carrying			Fair
	Value			Value		Value			Value
Notes payable and long-term debt	$	1,309,913	(1)	$	1,335,379	$	1,253,542	(1)	$	1,579,616

______________________

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