XML 37 R26.htm IDEA: XBRL DOCUMENT v3.10.0.1
Long-Term Debt (Tables)
 9 Months Ended
Sep. 30, 2018
Debt Disclosure [Abstract]  
Scheduled maturities of long-term debt outstanding
Scheduled maturities of our long-term debt outstanding as of September 30, 2018 are as follows (in thousands):
 
Term
Loan (1)
 
2022
Notes
 
2023 Notes
 
MARAD
Debt
 
Nordea
Q5000
Loan
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
Less than one year
$
4,212

 
$
—

 
$
—

 
$
6,858

 
$
35,714

 
$
46,784

One to two years
30,417

 
—

 
—

 
7,200

 
98,214

 
135,831

Two to three years
—

 
—

 
—

 
7,560

 
—

 
7,560

Three to four years
—

 
125,000

 
—

 
7,937

 
—

 
132,937

Four to five years
—

 
—

 
125,000

 
8,333

 
—

 
133,333

Over five years
—

 
—

 
—

 
32,580

 
—

 
32,580

Total debt
34,629

 
125,000

 
125,000

 
70,468

 
133,928

 
489,025

Current maturities
(4,212
)
 
—

 
—

 
(6,858
)
 
(35,714
)
 
(46,784
)
Long-term debt, less current maturities
30,417

 
125,000

 
125,000

 
63,610

 
98,214

 
442,241

Unamortized debt discount (2)
—

 
(11,772
)
 
(18,528
)
 
—

 
—

 
(30,300
)
Unamortized debt issuance costs (3)
(434
)
 
(1,898
)
 
(2,986
)
 
(4,147
)
 
(1,211
)
 
(10,676
)
Long-term debt
$
29,983

 
$
111,330

 
$
103,486

 
$
59,463

 
$
97,003

 
$
401,265

(1)
Term Loan borrowing pursuant to the Credit Agreement (as defined below) matures in June 2020. Scheduled principal repayments of the Term Loan have been adjusted to reflect prepayments made in March 2018.
(2)
Our Convertible Senior Notes due 2022 (the “2022 Notes”) will increase to their face amount through accretion of the debt discount through May 2022. Our Convertible Senior Notes due 2023 (the “2023 Notes”) will increase to their face amount through accretion of the debt discount through September 2023.
(3)
Debt issuance costs are amortized to interest expense over the term of the applicable debt agreement.
Components of net interest expense
The following table details the components of our net interest expense (in thousands): 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2018
 
2017
 
2018
 
2017
 
 
 
 
 
 
 
 
Interest expense
$
8,171

 
$
8,336

 
$
24,511

 
$
30,183

Interest income
(994
)
 
(792
)
 
(2,263
)
 
(2,056
)
Capitalized interest
(3,928
)
 
(3,929
)
 
(11,504
)
 
(12,647
)
Net interest expense
$
3,249

 
$
3,615

 
$
10,744

 
$
15,480