Debt

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



	September 30, 2015			December 31, 2014
	(In thousands)
6.75% Senior Notes due April 2016	$	—		$	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	850,000			550,000
7.5% Senior Notes due April 2027	200,000			200,000
Term Loan due July 2018	325,000			370,000
Bank Credit Facility due July 2018	225,000			235,000
Obligations under capital leases	208,613			181,002
Mortgage notes and other debt, maturities through 2050	4,087			4,251
Unamortized premiums (discounts), net	8,759			(2,905		)
Total debt	3,141,459			3,054,725
Less: Current maturities of long-term debt	(95,045		)	(90,931		)
Total long-term debt	$	3,046,414		$	2,963,794

Current maturities of debt at September 30, 2015 include amounts due under our Term Loan, mortgage notes and other debt, and capital leases within the next year. Our consolidated debt had a weighted average interest rate of 5.15% and 5.21% at September 30, 2015 and December 31, 2014, respectively. Approximately 76% and 75% of our total debt had a fixed interest rate at September 30, 2015 and December 31, 2014, respectively.

Bank Credit Facility

The Company has a $500.0 million bank credit facility due July 2018 with a syndicate of banks, including a sublimit of $175.0 million for letters of credit.

As of September 30, 2015, we have $225.0 million of outstanding borrowings under our Bank Credit Facility and have issued $33.3 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, 2015. As of September 30, 2015, we have $241.7 million in borrowing capacity under the bank credit facility.

Debt Issuances and Additions

In August 2015, we issued an additional $300.0 million to our existing unsecured 5.375% Senior Notes Due May 2024. This issuance generated a premium of $11.3 million. We used the net proceeds from this offering to redeem all of our outstanding 6.75% Senior Notes due April 2016 and to repay $100.0 million of outstanding borrowings under our Bank Credit Facility. During 2015, we drew $90.0 million on our Bank Credit Facility, which was used to make required payments on our Term Loan and for general corporate purposes.

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 July 2014 and our 3.375% Senior Convertible Notes due July 2016.

Debt Extinguishments and Reductions

During the nine months ended September 30, 2015, we made debt payments of $342.5 million for scheduled and early extinguishment payments including:


•	$197.4 million in aggregate principal of our 6.75% Senior Notes due April 2016;


•	$100.0 million in aggregate principal of our Bank Credit Facility; and


•	$45.0 million in aggregate principal of our Term Loan due July 2018.

Certain of the above transactions resulted in the recognition of a loss of $6.9 million recorded in Loss on early extinguishment of debt in our unaudited condensed consolidated statement of operations.

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

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

•$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;


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


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

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 nine months ended September 30, 2015 and 2014, we acquired $51.3 million and $30.8 million, respectively, of capital leases, primarily related to transportation equipment. We made aggregate principal payments of $20.4 million and $22.0 million on our capital lease obligations for the nine months ended September 30, 2015 and 2014, respectively.