Debt (Tables)

6 Months Ended

Jun. 30, 2014

Debt

Schedule of debt instruments

  Debt consisted of the following (in thousands):

	June 30, 2014			December 31, 2013			Weighted Average Stated Interest Rate At June 30, 2014	Final Maturity
2011 term loan A	$	—		$	406,566		N/A	N/A
2011 term loan B(1)		978,178			978,178		7.25%	2018
Revolving credit facility(1)		—			—		N/A	2016/2017
9.875% senior notes(2)		465,000			500,000		9.875%	2020
8.50% senior notes		450,000			450,000		8.50%	2021
9.50% senior secured notes		450,000			450,000		9.50%	2019
9.50% add-on senior secured notes		200,000			—		9.50%	2019
11.0% / 12.0% senior secured PIK toggle notes		350,000			—		11.00%	2020
Other(3)		26,373			14,876		Various	Various
Debt discount, net		(23,247	)		(20,788	)	N/A	N/A
Total debt		2,896,304			2,778,832
Less: current debt(3)		(15,353	)		(9,210	)
Total long-term debt	$	2,880,951		$	2,769,622

(1)

As of June 30, 2014, the revolving credit facility and term loan B interest rates were tied to LIBOR or CDOR, plus a credit spread of 550 basis points for the revolver and 675 basis points with a minimum LIBOR floor of 100 basis points for the term loan B.

(2)

On April 23, 2014, the Company issued an aggregate of 3.15 million shares of its common stock in exchange for $35.0 million of its 9.875% Senior Notes due 2020. The Company recognized a net gain of $11.4 million in gain (loss) on extinguishment of debt in the Condensed Consolidated Statements of Operations in the current quarter.

(3)

Includes capital lease obligations and an equipment financing agreement.

Minimum debt repayment schedule, excluding interest

The Company's minimum debt repayment schedule, excluding interest, as of June 30, 2014 is as follows (in thousands):

	Payments Due
	2014		2015		2016		2017		2018		Thereafter
2011 term loan B	$	—	$	—	$	—	$	—	$	978,178	$	—
9.875% senior notes		—		—		—		—		—		465,000
8.50% senior notes		—		—		—		—		—		450,000
9.50% senior secured notes		—		—		—		—		—		450,000
9.50% add-on senior secured notes		—		—		—		—		—		200,000
11.0% / 12.0% senior secured PIK toggle notes		—		—		—		—		—		350,000
Other		7,836		12,775		5,762		—		—		—
	$	7,836	$	12,775	$	5,762	$	—	$	978,178	$	1,915,000