Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2013


		2013		2012

Term Loans (mature July 2015)	$	-	$	367,181
Revolving Credit Facility (matures July 2015)		-		100,000
Term Loan (matures June 2018)		292,500		-
2025 Notes (mature December 2025)		-		3,487
2032 Notes (mature March 2032)		200,000		200,000
Senior Unsecured Notes (mature January 2016)		-		274,960
MARAD Debt (matures February 2027)		100,168		105,288
Unamoritized debt discount		(26,516)		(31,688)
Total debt		566,152		1,019,228
Less current maturities		(20,376)		(16,607)
Long-term debt	$	545,776	$	1,002,621

Schedule Of Redemption Price By Maturity


Year		Redemption Price

2013		102.375%
2014 and thereafter		100.000%

Schedule of Deferred Financing Costs


		December 31, 2013						December 31, 2012
		Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net

Term Loans (mature July 2015) (1)	$	-	$	-	$	-	$	15,318	$	(11,595)	$	3,723
Revolving Credit Facility (matures July 2015) (1)		-		-		-		20,021		(12,466)		7,555
Term Loan (matures June 2018) (2)		3,638		(364)		3,274		-		-		-
Revolving Credit Facility (matures June 2018) (2)		13,275		(1,327)		11,948		-		-		-
2025 Notes (mature December 2025)		-		-		-		8,189		(8,189)		-
2032 Notes (mature March 2032)		3,759		(1,148)		2,611		4,251		(534)		3,717
Senior Unsecured Notes (mature January 2016) (3)		-		-		-		10,643		(8,252)		2,391
MARAD Debt (matures February 2027)		12,200		(5,736)		6,464		12,200		(5,248)		6,952
Total deferred financing costs	$	32,872	$	(8,575)	$	24,297	$	70,622	$	(46,284)	$	24,338

(1) Relates to the term loans and revolving credit facility under our former credit agreement, which was terminated in June 2013.

(2) Relates to amounts allocated to the existing Term Loan and Revolving Credit Facility, which became effective in June 2013.

(3) In July 2013, we redeemed our remaining Senior Unsecured Notes. In connection with this redemption, we recorded a charge of $2.1 million to accelerate the remaining deferred financing costs associated with the original issuance of this debt.

Schedule of Maturities Of Long-Term Debt


		Term Loan (1)		MARAD Debt		2032 Notes (2)		Total

Less than one year	$	15,000	$	5,376	$	-	$	20,376
One to two years		22,500		5,644		-		28,144
Two to three years		30,000		5,926		-		35,926
Three to four years		30,000		6,222		-		36,222
Four to five years		195,000		6,532		-		201,532
Over five years		-		70,468		200,000		270,468
Total debt		292,500		100,168		200,000		592,668
Current maturities		(15,000)		(5,376)		-		(20,376)
Long-term debt, less current maturities		277,500		94,792		200,000		572,292
Unamortized debt discount (3)		-		-		(26,516)		(26,516)
Long-term debt	$	277,500	$	94,792	$	173,484	$	545,776

(1) The amount reflects the borrowings made in July 2013 (see Credit Agreement discussion above).

(2) Beginning in March 2018, the holders of the 2032 Notes may require us to repurchase these notes or we may at our option elect to repurchase notes. These notes will mature in March 2032.

(3) The 2032 Notes will increase to their principal amount through accretion of non-cash interest charges through March 2018.

Schedule of Interest Expense And Capitalized Interest


		Year Ended December 31,
		2013		2012		2011

Interest expense (1)	$	44,484	$	53,601	$	72,824
Interest income		(1,167)		(548)		(1,366)
Capitalized interest		(10,419)		(4,893)		(1,277)
Net interest expense	$	32,898	$	48,160	$	70,181

(1) Interest expense of $2.8 million, $28.6 million and $25.8 million for 2013, 2012 and 2011, respectively, was allocated to ERT and is included in discontinued operations. Following the sale of ERT in February 2013, we ceased allocation of interest expense to ERT, which constitutes a discontinued operation.