Debt

Debt as of September 30, 2014 and December 31, 2013 was as follows:



	September 30, 2014			December 31, 2013
	(In thousands)
3.125% Senior Convertible Notes due July 2014	$	—		$	86,416
6.75% Senior Notes due April 2015	—			136,465
6.75% Senior Notes due April 2016	197,377			197,377
3.375% Senior Convertible Notes due July 2016	134			45,119
7.0% Senior Notes due June 2017	295,000			295,000
7.625% Senior Notes due October 2018	250,000			250,000
6.5% Senior Notes due April 2019	—			200,000
7.0% Senior Notes due May 2019	—			250,000
4.5% Senior Notes due November 2020	200,000			200,000
8.0% Senior Notes due November 2021	150,000			150,000
5.375% Senior Notes due January 2022	425,000			425,000
5.375% Senior Notes due May 2024	550,000			—
7.5% Senior Notes due April 2027	200,000			200,000
Term Loan due July 2018	377,500			600,000
Bank credit facility due July 2018	235,000			30,000
Obligations under capital leases	186,596			189,697
Mortgage notes and other debt, maturities through 2050	4,221			4,752
Unamortized (discounts) premiums and other, net	(3,062		)	42,084
Total debt	3,067,766			3,301,910
Less:
Current maturities of debt, capital lease obligations, and mortgage notes	(109,907		)	(153,738		)
Current maturities of unamortized discounts (premiums) and other, net	641			(22,624		)
Total current maturities	(109,266		)	(176,362		)
Total long-term debt	$	2,958,500		$	3,125,548

Current maturities of debt at September 30, 2014 primarily comprise our capital leases and amounts due under our term loan. Our consolidated debt had a weighted average interest rate of 5.19% and 5.25% at September 30, 2014 and December 31, 2013, respectively. Approximately 74% and 76% of our total debt had a fixed interest rate at September 30, 2014 and December 31, 2013, respectively.

Bank Credit Agreement

The Company has a $500 million bank credit facility due July 2018 with a syndicate of banks, including a sublimit of $175 million for letters of credit.

As of September 30, 2014, we have $235.0 million outstanding borrowings under our bank credit facility and have issued $31.7 million of letters of credit. The bank credit facility provides us with flexibility for working capital, if needed, and is guaranteed by a majority of our domestic subsidiaries. The subsidiary guaranty is a guaranty of payment of the outstanding amount of the total lending commitment, including letters of credit. The bank credit facility contains certain financial covenants, including a minimum interest coverage ratio, a maximum leverage ratio, and certain dividend and share repurchase restrictions. We pay a quarterly fee on the unused commitment, which was 0.35% at September 30, 2014. As of September 30, 2014, we have $233.3 million in borrowing capacity under the bank credit facility.

Debt Issuances and Additions

In May 2014, we issued $550.0 million of unsecured 5.375% Senior Notes due May 2024. We used the net proceeds from this offering, along with a $95.0 million draw on our Bank Credit Facility, to repay our 6.75% Senior Notes due April 2015, 6.5% Senior Notes due April 2019, and 7.0% Senior Notes due May 2019 along with associated refinancing costs. The newly issued notes are subject to the provisions of the Company's Senior Indenture dated as of February 1, 1993, as amended, which includes covenants limiting, among other things, the creation of liens securing indebtedness and sale-leaseback transactions.

Debt Extinguishments and Reductions

During the nine months ended September 30, 2014, we made debt payments of $985.8 million for scheduled and early extinguishment payments as follows:


•	$250.0 million in aggregate principal of our 7.0% Senior Notes due May 2019;


•	$222.5 million in aggregate principal of our Term Loan due July 2018;


•	$200.0 million in aggregate principal and $9.1 million in unamortized premiums of our 6.5% Senior Notes due April 2019;


•	$136.5 million in aggregate principal of our 6.75% Senior Notes due April 2015;


•	$86.4 million in aggregate principal and $21.7 million in unamortized premiums of our 3.125% Senior Convertible Notes due 2014;


•	$45.0 million in aggregate principal and $14.2 million in unamortized premiums of our 3.375% Senior Convertible Notes due 2016; and


•	$0.4 million in other debt.

Certain of the above transactions resulted in the recognition of a loss of $29.2 million recorded in (Losses) gains on early extinguishment of debt in our unaudited condensed consolidated statement of operations.

During the first nine months of 2013, we paid an aggregate of $19.7 million to retire $19.6 million in capital leases obligations and $0.1 million to retire other debt. Certain of the above transactions resulted in the recognition of a gain of $0.5 million recorded in (Losses) gains on early extinguishment of debt, net in our unaudited condensed consolidated statement of operations.

Capital Leases

During the nine months ended September 30, 2014 and 2013, we acquired $31.1 million and $34.0 million, respectively, of capital leases, primarily related to transportation equipment. We retired $22.1 million and $19.6 million of capital lease obligations for the nine months ended September 30, 2014 and 2013, respectively.