Long-term Debt

Our long-term debt outstanding consists of the following (in millions):



	March 31, 2015			December 31, 2014
Credit Agreement—
Advances under revolving credit facility	$	10.0		$	325.0
Term loan facilities	197.5			450.0
Bonds payable—
8.125% Senior Notes due 2020	287.2			287.0
7.75% Senior Notes due 2022	227.1			227.1
5.125% Senior Notes due 2023	300.0			—
5.75% Senior Notes due 2024	864.0			456.2
2.0% Convertible Senior Subordinated Notes due 2043	260.2			258.0
Other notes payable	41.1			41.6
Capital lease obligations	85.2			86.7
	2,272.3			2,131.6
Less: Current portion	(149.8		)	(20.8		)
Long-term debt, net of current portion	$	2,122.5		$	2,110.8

The following chart shows scheduled principal payments due on long-term debt for the next five years and thereafter (in millions):



	Face Amount		Net Amount
April 1 through December 31, 2015	$	145.7	$	144.4
2016	20.6		20.6
2017	18.9		18.9
2018	18.7		18.7
2019	342.0		340.4
2020	322.5		262.7
Thereafter	1,451.5		1,466.6
Total	$	2,319.9	$	2,272.3

In December 2014, we drew $375 million under our term loan facilities and $325 million under our revolving credit facility to fund the acquisition of Encompass Home Health and Hospice (“Encompass”). See Note 2, Business Combinations, to the consolidated financial statements accompanying the 2014 Form 10‑K. In January 2015, we issued an additional $400 million of our 5.75% Senior Notes due 2024 at a price of 102% of the principal amount and used $250 million of the net proceeds to repay borrowings under our term loan facilities, with the remaining net proceeds used to repay borrowings under our revolving credit facility. As a result of this transaction, we recorded a $1.2 million Loss on early extinguishment of debt in the first quarter of 2015.

In March 2015, we issued $300 million of 5.125% Senior Notes due 2023 (the “2023 Notes) at a price of 100.0% of the principal amount, which resulted in approximately $295 million in net proceeds from the public offering. The 2023 Notes will be governed by the Base Indenture, as defined in Note 8, Long-term debt, to the consolidated financial statements accompanying the 2014 Form 10-K, and the Fifth Supplemental Indenture dated March 12, 2015. The 2023 Notes mature on March 15, 2023 and bear interest at a per annum rate of 5.125%. Interest on the 2023 Notes is payable semiannually in arrears on March 15 and September 15, beginning on September 15, 2015. We may redeem the 2023 Notes, in whole or in part, at any time on or after March 15, 2018 at the redemption prices set forth below:



Period	Redemption Price*
2018	103.844	%
2019	102.563	%
2020	101.281	%
2021 and thereafter	100.000	%

* Expressed in percentage of principal amount

Approximately $135 million of the net proceeds from the offering of the 2023 Notes were invested in short-term interest-bearing instruments and are included in Cash and cash equivalents in our consolidated balance sheet as of March 31, 2015. The remainder of the net proceeds from this offering were initially used to repay borrowings under our revolving credit facility.

On March 11, 2015, we gave notice of, and made an irrevocable commitment for, the redemption of all the outstanding principal amount of our 8.125% Senior Notes due 2020 (the “2020 Notes”). On April 10, 2015, we used the net proceeds from the 2023 Notes offering, a portion of which represented a re-borrowing under our revolving credit facility, along with Cash and cash equivalents on hand, to execute the redemption. Therefore, approximately $160 million of the 2020 Notes were classified as noncurrent as of March 31, 2015. Pursuant to the terms of the 2020 Notes, this redemption was made at a price of 104.063%, which resulted in a total cash outlay of approximately $302 million to retire the $290 million in principal. As a result of this redemption, we expect to record an approximate $19 million Loss on early extinguishment of debt in the second quarter of 2015.

For additional information regarding our indebtedness, see Note 8, Long-term Debt, to the consolidated financial statements accompanying the 2014 Form 10-K.