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Debt (Tables)
 12 Months Ended
Dec. 31, 2019
Debt Disclosure [Abstract]  
Schedule Of Long-Term Debt Instruments

The carrying value of our long-term debt as of December 31, 2019 and 2018 consisted of the following (in millions):
 
 
2019
 
2018
6.875% Senior notes due 2020
 
$
124.8

 
$
127.5

4.70% Senior notes due 2021
 
113.2

 
112.7

4.875% Senior notes due 2022(3)
 
599.2

 
—

3.00% Exchangeable senior notes due 2024(2)
 
699.0

 
666.8

4.50% Senior notes due 2024(1)
 
302.0

 
619.8

4.75% Senior notes due 2024(3)
 
276.5

 
—

8.00% Senior notes due 2024(1)
 
295.7

 
337.0

5.20% Senior notes due 2025(1)
 
331.7

 
664.4

7.375% Senior notes due 2025(3)
 
329.2

 
—

7.75% Senior notes due 2026
 
987.1

 
985.0

7.20% Debentures due 2027(1)
 
111.7

 
149.3

7.875% Senior notes due 2040
 
373.3

 
375.0

5.40% Senior notes due 2042(3)
 
262.8

 
—

5.75% Senior notes due 2044
 
973.3

 
972.9

5.85% Senior notes due 2044(3)
 
268.8

 
—

Total debt
 
$
6,048.3

 
$
5,010.4

Less: current maturities
 
124.8

 
—

Total long-term debt
 
$
5,923.5


$
5,010.4



(1) 
The decline in the carrying value of our 4.50% and 8.00% senior notes due 2024, 5.20% senior notes due 2025 and 7.20% debentures due 2027 resulted from repurchases made pursuant to the tender offer discussed below.

(2) 
Our 2024 Convertible Notes were issued with a conversion feature. The 2024 Convertible Notes were separated into their liability and equity components on our consolidated balance sheet. The equity component was initially recorded to additional paid-in capital and as a debt discount that will be amortized to interest expense over the life of the instrument. Excluding the unamortized discount, the carrying value of the 2024 Convertible Notes was $838.3 million and $836.3 million as of December 31, 2019 and 2018, respectively.

(3) 
These senior notes were acquired in the Rowan Transaction.
Convertible Debt
As of December 31, 2019 and 2018, the 2024 Convertible Notes consist of the following (in millions):
Liability component:
 
2019
 
2018
Principal
 
$
849.5

 
$
849.5

Less: Unamortized debt discount and issuance costs
 
(150.5
)
 
(182.7
)
Net carrying amount
 
699.0

 
666.8

Equity component, net
 
$
220.0

 
$
220.0
Schedule of Extinguishment of Debt The exchange offers resulted in the tender of $649.5 million aggregate principal amount of our outstanding notes that were settled and exchanged as follows (in millions):
 
Aggregate Principal Amount Repurchased
 
8% Senior Notes Due 2024 Consideration
 
Cash
Consideration
 
Total Consideration
8.50% Senior notes due 2019
$
145.8

 
$
81.6

 
$
81.7

 
$
163.3

6.875% Senior notes due 2020
129.8

 
69.3

 
69.4

 
138.7

4.70% Senior notes due 2021
373.9

 
181.1

 
181.4

 
362.5

 
$
649.5

 
$
332.0

 
$
332.5

 
$
664.5


Our tender offers and open market repurchases during the three-year period ended December 31, 2019 were as follows (in millions):
 
Aggregate Principal Amount Repurchased
 
Aggregate Repurchase Price(1)
Year Ended December 31, 2019
 
 
 
4.50% Senior notes due 2024
$
320.0

 
$
240.0

4.75% Senior notes due 2024
79.5

 
61.2

8.00% Senior notes due 2024
39.7

 
33.8

5.20% Senior notes due 2025
335.5

 
250.0

7.375% Senior notes due 2025
139.2

 
109.2

7.20% Senior notes due 2027
37.9

 
29.9

 
$
951.8

 
$
724.1

Year Ended December 31, 2018
 
 
 
8.50% Senior notes due 2019
$
237.6

 
$
256.8

6.875% Senior notes due 2020
328.0

 
354.7

4.70% Senior notes due 2021
156.2

 
159.7

 
$
721.8

 
$
771.2

Year Ended December 31, 2017
 
 
 
8.50% Senior notes due 2019
$
54.6

 
$
60.1

6.875% Senior notes due 2020
100.1

 
105.1

4.70% Senior notes due 2021
39.4

 
39.3

 
$
194.1

 
$
204.5



(1) 
Excludes accrued interest paid to holders of the repurchased senior notes.
Aggregate Maturities Of Long-Term Debt
The descriptions of our senior notes above reflect the original principal amounts issued, which have subsequently changed as a result of our tenders, repurchases, exchanges, redemptions and new debt issuances such that the maturities of our debt were as follows (in millions):
Senior Notes
Original Principal
 
2016 Tenders, Repurchases and Equity Exchange
 
2017 Exchange Offers and Repurchases
 
2018 Tender Offers, Redemption and Debt Issuance
 
2019 Tender Offers, Redemption and Debt Issuance
 
Remaining Principal
6.875% due 2020
$
900.0

 
$
(219.2
)
 
$
(229.9
)
 
$
(328.0
)
 
$
—

 
$
122.9

4.70% due 2021
1,500.0

 
(817.0
)
 
(413.3
)
 
(156.2
)
 
—

 
113.5

4.875% due 2022 (1)
—

 
—

 
—

 
—

 
620.8

 
620.8

3.00% Exchangeable senior notes due 2024
849.5

 
—

 
—

 
—

 
—

 
849.5

4.50% due 2024
625.0

 
(1.7
)
 
—

 
—

 
(320.0
)
 
303.3

4.75% due 2024 (1)
—

 
—

 
—

 
—

 
318.6

 
318.6

8.00% due 2024
—

 
—

 
332.0

 
—

 
(39.7
)
 
292.3

5.20% due 2025
700.0

 
(30.7
)
 
—

 
—

 
(335.5
)
 
333.8

7.375% due 2025 (1)
—

 
—

 
—

 
—

 
360.8

 
360.8

7.75% due 2026
—

 
—

 
—

 
1,000.0

 
—

 
1,000.0

7.20% due 2027
150.0

 
—

 
—

 
—

 
(37.9
)
 
112.1

7.875% due 2040
300.0

 
—

 
—

 
—

 
—

 
300.0

5.40% due 2042 (1)
—

 
—

 
—

 
—

 
400.0

 
400.0

5.75% due 2044
1,025.0

 
(24.5
)
 
—

 
—

 
—

 
1,000.5

5.85% due 2044 (1)
—

 
—

 
—

 
—

 
400.0

 
400.0

Total
$
6,049.5


$
(1,093.1
)

$
(311.2
)

$
515.8


$
1,367.1

 
$
6,528.1



(1) 
These senior notes were acquired in the Rowan Transaction.