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Debt (Notes) | 6 Months Ended
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Jun. 30, 2016
Debt [Abstract] |
Debt Disclosure | Debt Debt as of June 30, 2016 and December 31, 2015 was as follows:
| June 30, 2016 |  | December 31, 2015
| (In thousands)
7.0% Senior Notes due June 2017 | $ | — |  |  | $ | 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 |  |  | 850,000 |
7.5% Senior Notes due April 2027 | 200,000 |  |  | 200,000 |
Term Loan due July 2018 | — |  |  | 310,000 |
Bank Credit Facility due July 2018 | — |  |  | 270,000 |
Term Loan due March 2021 | 691,250 |  |  | — |
Bank Credit Facility due March 2021 | 250,000 |  |  | — |
Obligations under capital leases | 210,037 |  |  | 204,246 |
Mortgage notes and other debt, maturities through 2050 | 3,952 |  |  | 4,037 |
Unamortized premiums, net | 8,730 |  |  | 8,636 |
Unamortized debt issuance costs | (35,686 | ) |  | (42,491 | )
Total debt | 3,203,283 |  |  | 3,124,428 |
Less: Current maturities of long-term debt | (90,104 | ) |  | (86,823 | )
Total long-term debt | $ | 3,113,179 |  |  | $ | 3,037,605 |
Current maturities of debt at June 30, 2016 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 4.6% and 5.2% at June 30, 2016 and December 31, 2015, respectively. Approximately 65% and 76% of our total debt had a fixed interest rate at June 30, 2016 and December 31, 2015, respectively. During the six months ended June 30, 2016 and 2015, we paid $80.2 million and $81.1 million in cash interest, respectively. Bank Credit Agreement In March 2016, we entered into a new $1.4 billion bank credit agreement due March 2021 with a syndicate of banks. As of June 30, 2016, we have $250.0 million of outstanding borrowings under our Bank Credit Facility due March 2021; $691.3 million of outstanding borrowings under our Term Loan due March 2021; and have issued $33.3 million of letters of credit. The bank credit agreement due March 2021 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 agreement 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 0.30% at June 30, 2016. As of June 30, 2016, we have $416.7 million in borrowing capacity under the Bank Credit Facility. As of December 31, 2015, we had a $500.0 million Bank Credit Facility due July 2018 with a syndicate of financial institutions, including a sublimit of $175.0 million for letters of credit. In March 2016, the new $1.4 billion credit agreement replaced the existing $500.0 million Bank Credit Facility due July 2018 and $600.0 million Term Loan due July 2018 providing for a new $700.0 million Bank Credit Facility and a $700.0 million Term Loan, both maturing in March 2021, including a sublimit of $100.0 million for letters of credit. Debt Issuances and Additions In June 2016, we drew $50.0 million on our Bank Credit Facility due March 2021 to fund acquisition activity and make required payments on our Term Loan due March 2021. In April 2016, we drew $170.0 million on our Bank Credit Facility due March 2021, and $150.0 million on our Term Loan due March 2021, to repay our $295.0 million 7.0% Senior Notes due June 2017 and associated transaction costs. In January 2016, we drew $10.0 million on our Bank Credit Facility due July 2018 for general corporate purposes. In March 2016, we drew $30.0 million on our Bank Credit Facility due March 2021 and $550.0 million on our Term Loan due March 2021 to repay outstanding borrowings under our Bank Credit Facility due July 2018 and our Term Loan due July 2018. These transactions resulted in the addition of $5.2 million in debt issuance costs. During the six months ended June 30, 2015, we drew $30.0 million on our Bank Credit Facility due July 2018, which was used to make required payments on our Term Loan due July 2018. Debt Extinguishments and Reductions During the six months ended June 30, 2016, we made debt payments of $893.8 million for scheduled and early extinguishment payments including:
• | $310.0 million in aggregate principal of our Term Loan due July 2018;
• | $295.0 million in aggregate principal of our 7.0% Senior Notes due 2017;
• | $280.0 million in aggregate principal of our Bank Credit Facility due July 2018; and
• | $8.8 million in aggregate principal of our Term Loan due March 2021.
Certain of the above transactions resulted in a loss of $22.5 million recorded in Loss on early extinguishment of debt in our unaudited condensed Consolidated Statement of Operations. During the six months ended June 30, 2015, we made a scheduled debt payment of $30.1 million on our Term Loan due July 2018. Capital Leases During the six months ended June 30, 2016 and 2015, we acquired $23.4 million and $22.5 million, respectively, of capital leases, primarily related to transportation equipment. We made aggregate principal payments of $16.9 million and $15.3 million on our capital lease obligations for the six months ended June 30, 2016 and 2015, respectively.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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