Debt

Debt consisted of the following (dollars in thousands):



	March 31, 2015			December 31, 2014			Weighted Average Stated Interest Rate at March 31, 2015	Final Maturity
2011 term loan B	$	978,178		$	978,178		7.25%	2018
9.50% senior secured notes	970,000			970,000			9.50%	2019
11.00% / 12.00% senior secured PIK toggle notes	350,000			350,000			11.00% / 12.00%	2020
9.875% senior notes	388,000			388,000			9.88%	2020
8.50% senior notes (1)	383,275			450,000			8.50%	2021
Other (2)	14,237			18,085			Various	Various
Debt discount, net	(17,207		)	(18,293		)
Debt issuance costs (3)	(51,209		)	(54,765		)
Total debt	3,015,274			3,081,205
Less: current debt (2)	(3,015,274		)	(12,327		)
Total long-term debt	$	—		$	3,068,878

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(1) On March 6, 2015, the Company issued an aggregate of 8.65 million shares of its common stock in exchange for $66.7 million of its 8.50% Senior Notes due 2021 and recognized a net gain on extinguishment of debt of $58.6 million in the three months ended March 31, 2015.

(2) Includes capital lease obligations and an equipment financing agreement.

(3) In the current quarter, the Company adopted ASU 2015-03 to present debt issuance costs as a direct deduction to the carrying amount of debt. The adoption of this guidance has been applied on a retrospective basis. See Note 1 to the Condensed Consolidated Financial Statements for additional information.

On April 15, 2015, the Company elected to exercise the 30-day grace period under the terms of the indentures governing its 9.50% Senior Secured Notes due 2019 and its 8.50% Senior Notes due 2021 to extend the timeline for making the cash interest payments due on April 15, 2015. The 30-day grace period will end on May 15, 2015. See Note 1 to the Condensed Consolidated Financial Statements for additional information.