XML 51 R31.htm IDEA: XBRL DOCUMENT v3.3.1.900
Long-Term Debt (Tables)
12 Months Ended
Dec. 31, 2015
Debt Disclosure [Abstract]  
Schedule of Borrowing Base Utilization, Credit Facility [Table Text Block]
Interest and commitment fees are accrued based on the borrowing base utilization grid below.  Eurodollar loans accrue interest at the London Interbank Offered Rate plus the applicable margin from the utilization table below, and Alternate Base Rate (“ABR”) and swingline loans accrue interest at Prime plus the applicable margin from the utilization table below.  Commitment fees are accrued on the unused portion of the aggregate commitment amount and are included in interest expense in the accompanying statements of operations.

Borrowing Base Utilization Grid
Borrowing Base Utilization Percentage
 
<25%
 
≥25% <50%
 
≥50% <75%
 
≥75% <90%
 
≥90%
Eurodollar Loans
 
1.250
%
 
1.500
%
 
1.750
%
 
2.000
%
 
2.250
%
ABR Loans or Swingline Loans
 
0.250
%
 
0.500
%
 
0.750
%
 
1.000
%
 
1.250
%
Commitment Fee Rate
 
0.300
%
 
0.300
%
 
0.350
%
 
0.375
%
 
0.375
%
Schedule of Line of Credit Facilities [Table Text Block]
The following table presents the outstanding balance, total amount of letters of credit, and available borrowing capacity under the Credit Agreement as of February 17, 2016, December 31, 2015, and December 31, 2014:
 
 
As of February 17, 2016
 
As of December 31, 2015
 
As of December 31, 2014
 
(in thousands)
Credit facility balance (1)
$
243,000

 
$
202,000

 
$
166,000

Letters of credit (2)
$
200

 
$
200

 
$
808

Available borrowing capacity
$
1,256,800

 
$
1,297,800

 
$
1,333,192

____________________________________________
(1)
Deferred financing costs attributable to the credit facility are presented as a component of other noncurrent assets on the accompanying balance sheets and thus are not deducted from the credit facility balance.
(2)
Letters of credit reduce the amount available under the credit facility on a dollar-for-dollar basis.
Schedule of Long-term Debt Instruments [Table Text Block]
The Senior Notes, net of unamortized deferred financing costs, line on the accompanying balance sheets as of December 31, 2015, and 2014, consisted of the following:
 
As of December 31,
 
2015
 
2014 (1)
 
Senior Notes
 
Unamortized Deferred Financing Costs
 
Senior Notes, Net of Unamortized Deferred Financing Costs
 
Senior Notes
 
Unamortized Deferred Financing Costs
 
Senior Notes, Net of Unamortized Deferred Financing Costs
 
(in thousands)
6.625% Notes due 2019
$

 
$

 
$

 
$
350,000

 
$
4,591

 
$
345,409

6.50% Notes due 2021
350,000

 
4,106

 
345,894

 
350,000

 
4,806

 
345,194

6.125% Notes due 2022
600,000

 
8,714

 
591,286

 
600,000

 
9,812

 
590,188

6.50% Notes due 2023
400,000

 
5,231

 
394,769

 
400,000

 
5,969

 
394,031

5.0% Notes due 2024
500,000

 
7,455

 
492,545

 
500,000

 
8,377

 
491,623

5.625% Notes due 2025
500,000

 
8,524

 
491,476

 

 

 

Total
$
2,350,000

 
$
34,030

 
$
2,315,970

 
$
2,200,000

 
$
33,555

 
$
2,166,445

____________________________________________
(1)
Prior period amounts have been reclassified to conform to the current period presentation on the accompanying balance sheets. Please refer to the section Recently Issued Accounting Standards in Note 1 – Summary of Significant Accounting Policies for additional discussion.