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Debt Level 1 (Notes) | 12 Months Ended
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Dec. 31, 2018
Debt Disclosure [Abstract] |
Debt Disclosure [Text Block] | Debt Debt was as follows:
| Years Ended December 31,
| 2018 |  | 2017
| (In thousands)
7.625% Senior Notes due October 2018 | $ | — |  |  | $ | 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 |  |  | 550,000 |
Term Loan due December 2022 | 641,250 |  |  | 675,000 |
Bank Credit Facility due December 2022 | 395,000 |  |  | — |
Obligations under capital leases | 211,952 |  |  | 197,232 |
Mortgage notes and other debt, maturities through 2050 | 4,076 |  |  | 6,036 |
Unamortized premiums and discounts, net | 6,562 |  |  | 7,456 |
Unamortized debt issuance costs | (31,762 | ) |  | (38,071 | )
Total debt | 3,602,078 |  |  | 3,472,653 |
Less: Current maturities of long-term debt | (69,896 | ) |  | (337,337 | )
Total long-term debt | $ | 3,532,182 |  |  | $ | 3,135,316 |
Current maturities of debt at December 31, 2018 include amounts due under our term loan, mortgage notes and other debt, and capital leases within the next year as well as the portion of unamortized premiums and discounts and debt issuance costs expected to be recognized in the next twelve months. Our consolidated debt had a weighted average interest rate of 4.99% and 4.73% at December 31, 2018 and 2017, respectively. Approximately 66% and 75% of our total debt had a fixed interest rate at December 31, 2018 and 2017, respectively. The following table summarizes the aggregate maturities of our debt for the five years subsequent to December 31, 2018 and thereafter, excluding unamortized premiums and debt issuance costs (in thousands):
2019 | $ | 75,037 |
2020 | 281,186 |
2021 | 238,470 |
2022 | 1,379,873 |
2023 | 14,193 |
2024 and thereafter | 1,638,519 |
Total debt maturities | $ | 3,627,278 |
Bank Credit Agreement The bank credit agreement 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. As of December 31, 2018, we are in compliance with all of our debt covenants. We issued $32.9 million of letters of credit and pay a quarterly fee on the unused commitment, which was 0.25% at December 31, 2018. As of December 31, 2018, we have $572.1 million in borrowing capacity under the facility. As of December 31, 2017, we issued $33.3 million of letters of credit. Debt Issuances and Additions During the year ended December 31, 2018, we drew $395.0 million on our Bank Credit Facility as follows:
• | $175.0 million to fund the redemption of our 7.625% Senior Notes due October 2018 in January 2018.
• | $10.0 million to make required payments on our Term Loan due December 2022 in March 2018.
• | $185.0 million to fund acquisition activity, to make required payments on our Term Loan due December 2022, and for general corporate purposes in June 2018.
• | $25.0 million to fund acquisition activity and for general corporate purposes in September 2018.
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, 2018, we made aggregate debt payments of $293.7 million for scheduled and early extinguishment payments including:
• | $250.0 million in aggregate principal of our 7.625% Senior Notes due October 2018;
• | $9.6 million in call premium for redemption of the 7.625% Senior Notes due October 2018;
• | $33.8 million in aggregate principal of our Term Loan due December 2022; and
• | $0.3 million in other debt.
Certain of the above transactions resulted in the recognition of a loss of $10.1 million recorded in Losses on early extinguishment of debt in our Consolidated Statement of Operations for the year ended December 31, 2018. 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.
Additional Debt Disclosures At December 31, 2018 and 2017, we had deposits of $3.8 million and $3.7 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 $1.1 million and $1.2 million pledged as collateral for the mortgage notes and other debt at December 31, 2018 and 2017, respectively. Cash interest payments for the three years ended December 31 were as follows (in thousands):
Payments in 2018 | $ | 179,865 |
Payments in 2017 | $ | 160,843 |
Payments in 2016 | $ | 156,950 |
Expected cash interest payments for the five years subsequent to December 31, 2018 and thereafter are as follows (in thousands):
Payments in 2019 | $ | 179,665 |
Payments in 2020 | 177,275 |
Payments in 2021 | 166,511 |
Payments in 2022 | 129,293 |
Payments in 2023 | 87,842 |
Payments in 2024 and thereafter | 172,932 |
Total expected cash interest payments | $ | 913,518 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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