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Debt Level 1 (Notes) | 12 Months Ended
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Dec. 31, 2017
Debt Disclosure [Abstract] |
Debt Disclosure [Text Block] | Debt Debt as of December 31 was as follows:
| 2017 |  | 2016
| (In thousands)
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 |
4.625% Senior Notes due December 2027 | 550,000 |  |  | — |
Term Loan due December 2022 | 675,000 |  |  | — |
Term Loan due March 2021 | — |  |  | 673,750 |
Bank Credit Facility due March 2021 | — |  |  | 350,000 |
Obligations under capital leases | 197,232 |  |  | 208,758 |
Mortgage notes and other debt, maturities through 2050 | 6,036 |  |  | 3,753 |
Unamortized premiums (discounts) and other, net | 7,456 |  |  | 8,313 |
Unamortized debt issuance costs | (38,071 | ) |  | (32,984 | )
Total debt | 3,472,653 |  |  | 3,286,590 |
Less: Current maturities of long-term debt | (337,337 | ) |  | (89,974 | )
Total long-term debt | $ | 3,135,316 |  |  | $ | 3,196,616 |
Current maturities of debt at December 31, 2017 include amounts due within one year on publicly traded notes, our term loan, and capital leases. The publicly traded notes are a $250.0 million 7.625% Senior notes due October 2018, which were redeemed on January 12, 2018. Our consolidated debt had a weighted average interest rate of 4.73% and 4.68% at December 31, 2017 and 2016, respectively. Approximately 75% and 63% of our total debt had a fixed interest rate at December 31, 2017 and 2016, respectively. The following table summarizes the aggregate maturities of our debt for the five years subsequent to December 31, 2017 and thereafter, excluding unamortized premiums (discounts) and debt issuance costs (in thousands):
2018 | $ | 342,786 |
2019 | 64,665 |
2020 | 270,423 |
2021 | 216,731 |
2022 | 976,331 |
2023 and thereafter | 1,632,332 |
Total debt maturities | $ | 3,503,268 |
Bank Credit Facility In December 2017, we entered into a new $1.7 billion bank credit agreement due December 2022 with a syndicate of banks. The $1.7 billion bank credit agreement comprises a $1.0 billion Bank Credit Facility and a $0.7 billion Term Loan, both due December 2022, including a sublimit of $100 million for letters of credit. As of December 31, 2017, we have no 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, 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. As of December 31, 2017, we are in compliance with all covenants. We pay a quarterly fee on the unused commitment, which was 0.25% at December 31, 2017. As of December 31, 2017, we have $966.7 million in borrowing capacity under the facility. As of December 31, 2016, we had a $673.8 million Term Loan and $350 million Bank Credit Facility due March 2021 with a syndicate of financial institutions, including a sublimit of $100 million for letters of credit; which were replaced by the new bank credit agreement in December 2017. Debt Issuances and Additions During the year ended December 31, 2017, we borrowed $675.0 million on our Term Loan due December 2022, $562.5 million on our Bank Credit Facilities, and issued $550.0 million unsecured 4.625% Senior Notes Due December 2027 to make the 2017 debt payments described below, to fund acquisition activity, and for general corporate purposes. These transactions resulted in an additional $12.9 million of debt issuance costs. Debt Extinguishments and Reductions During the year ended December 31, 2017, we made debt payments of $1.6 billion for scheduled and early payments including:
• | $647.5 million in aggregate principal of our Term Loan due March 2021;
• | $470.0 million in aggregate principal of our Bank Credit Facility due March 2021;
• | $442.5 million in aggregate principal of our Bank Credit Facility due December 2022;
• | $26.3 million in aggregate principal of our Term Loan due March 2021 as a scheduled payment; and
• | $0.2 million in other debt.
During the year ended December 31, 2016, we made debt payments of $911.5 million for scheduled and early extinguishment payments including:
• | $310.0 million in aggregate principal of our Term Loan due to 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
• | $26.3 million in aggregate principal of our Term Loan due March 2021.
• | $0.2 million in other debt.
Certain of the above transactions resulted in the recognition of a loss of $22.5 million recorded in Losses on early extinguishment of debt in our Consolidated Statement of Operations for the year ended December 31, 2016. Additional Debt Disclosures At December 31, 2017 and 2016, we had deposits of $3.7 million and $4.7 million, respectively, in restricted, interest-bearing accounts that were pledged as collateral for various credit instruments and commercial commitments. These deposits are included in Other current assets and Deferred charges and other assets in our Consolidated Balance Sheet. We had assets of approximately $1.2 million and $1.4 million pledged as collateral for the mortgage notes and other debt at December 31, 2017 and 2016, respectively. Cash interest payments for the three years ended December 31 were as follows (in thousands):
Payments in 2017 | $ | 160,843 |
Payments in 2016 | $ | 156,950 |
Payments in 2015 | $ | 164,748 |
Expected cash interest payments for the five years subsequent to December 31, 2017 and thereafter are as follows (in thousands):
Payments in 2018 | $ | 160,076 |
Payments in 2019 | 144,948 |
Payments in 2020 | 143,879 |
Payments in 2021 | 133,972 |
Payments in 2022 | 92,235 |
Payments in 2023 and thereafter | 264,398 |
Total expected cash interest payments | $ | 939,508 |
Subsequent Events In January 2018, we drew $175.0 million on our Bank Credit Facility due December 2022 to repay our $250.0 million 7.625% Senior notes due October 2018.

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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 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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