Debt

Debt as of June 30, 2015 and December 31, 2014 was as follows:



	June 30, 2015			December 31, 2014
	(In thousands)
6.75% Senior Notes due April 2016	$	197,377		$	197,377
7.0% Senior Notes due June 2017	295,000			295,000
7.625% Senior Notes due October 2018	250,000			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			550,000
7.5% Senior Notes due April 2027	200,000			200,000
Term Loan due July 2018	340,000			370,000
Bank credit facility due July 2018	265,000			235,000
Obligations under capital leases	185,956			181,002
Mortgage notes and other debt, maturities through 2050	4,137			4,251
Unamortized discounts and other, net	(2,593		)	(2,905		)
Total debt	3,059,877			3,054,725
Less: Current maturities of debt	(290,016		)	(90,931		)
Total long-term debt	$	2,769,861		$	2,963,794

Current maturities of debt at June 30, 2015 include our 6.75% Senior Notes due April 2016, capital leases, and amounts due under our term loan. Our consolidated debt had a weighted average interest rate of 5.21% at both June 30, 2015 and December 31, 2014. Approximately 75% of our total debt had a fixed interest rate at both June 30, 2015 and December 31, 2014.

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 June 30, 2015, we have $265.0 million of outstanding borrowings under our bank credit facility and have issued $31.6 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 June 30, 2015. As of June 30, 2015, we have $203.4 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.

In February 2014, we drew $110.0 million on our bank credit facility, which we used along with cash on hand to repay our 3.125% Senior Convertible Notes due July 2014 and our 3.375% Senior Convertible Notes due July 2016.

Debt Extinguishments and Reductions

During the six months ended June 30, 2015, we made scheduled payments on our Term Loan due July 2018 of $30.0 million and borrowed $30.0 million on our bank credit facility.

During the first half of 2014, we made debt payments of $898.2 million for scheduled and early extinguishment payments as follows:

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


•	$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;


•	$135.0 million in aggregate principal of our Term Loan due July 2018;


•	$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


•	$0.3 million in other debt.

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

Capital Leases

During the six months ended June 30, 2015 and 2014, we acquired $22.5 million and $19.0 million, respectively, of capital leases, primarily related to transportation equipment. We made aggregate principal payments of $15.3 million and $14.5 million on our capital lease obligations for the six months ended June 30, 2015 and 2014, respectively.