| Long-Term Debt |
The components of our long-term debt are presented in the following table (in thousands):
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March 31, 2018
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December 31, 2017
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Adjustments to
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Adjustments to
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Carrying
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Carrying
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Carrying
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Carrying
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Principal
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Value (1)
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Value
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Principal
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Value (1)
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Value
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11.00% 1.5 Lien Term Loan,
due November 2019:
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Principal
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$
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75,000
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$
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—
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$
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75,000
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$
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75,000
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$
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—
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$
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75,000
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Future interest payments
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—
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13,539
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13,539
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—
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15,596
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15,596
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Subtotal
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75,000
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13,539
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88,539
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75,000
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15,596
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90,596
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9.00 % Second Lien Term Loan,
due May 2020:
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300,000
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—
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300,000
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300,000
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—
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300,000
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9.00%/10.75% Second Lien
PIK Toggle Notes, due May 2020:
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Principal
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171,769
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—
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171,769
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171,769
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—
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171,769
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Future payments-in-kind
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—
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5,745
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5,745
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—
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5,745
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5,745
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Future interest payments
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—
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34,872
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34,872
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—
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34,872
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34,872
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Subtotal
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171,769
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40,617
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212,386
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171,769
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40,617
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212,386
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8.50%/10.00% Third Lien
PIK Toggle Notes, due June 2021:
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Principal
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153,192
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—
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153,192
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153,192
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—
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153,192
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Future payments-in-kind
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—
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11,323
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11,323
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—
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11,323
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11,323
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Future interest payments
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—
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38,682
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38,682
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—
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38,682
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38,682
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Subtotal
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153,192
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50,005
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203,197
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153,192
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50,005
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203,197
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8.50% Unsecured Senior Notes,
due June 2019
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189,829
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—
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189,829
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189,829
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—
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189,829
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Debt premium, discount,
issuance costs, net of amortization
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—
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(3,612
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)
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(3,612
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)
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—
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(3,956
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)
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(3,956
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)
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Total long-term debt
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889,790
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100,549
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990,339
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889,790
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102,262
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992,052
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Current maturities of long-term debt (2)
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—
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22,858
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22,858
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—
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22,925
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22,925
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Long term debt, less current
maturities
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$
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889,790
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$
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77,691
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$
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967,481
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$
|
889,790
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$
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79,337
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$
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969,127
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(1)
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Future interest payments and future payments-in-kind are recorded on an undiscounted basis.
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(2)
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Future interest payments on the 1.5 Lien Term Loan, Second Lien PIK Toggle Notes and Third Lien PIK Toggle Notes due within twelve months.
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