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Debt | 3 Months Ended
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Mar. 31, 2017
Debt Disclosure [Abstract] |
Debt | Debt Our obligations under debt arrangements consisted of the following:
| March 31, 2017 |  | December 31, 2016
| Principal |  | Unamortized Discount and Debt Issuance Costs |  | Net Value |  | Principal |  | Unamortized Discount and Debt Issuance Costs |  | Net Value
Senior secured credit facility | $ | 1,210,000 |  |  | $ | — |  |  | $ | 1,210,000 |  |  | $ | 1,278,200 |  |  | $ | — |  |  | $ | 1,278,200 |
6.000% senior unsecured notes due May 2023 | 400,000 |  |  | 6,491 |  |  | 393,509 |  |  | 400,000 |  |  | 6,758 |  |  | 393,242 |
5.750% senior unsecured notes due February 2021 | 350,000 |  |  | 3,908 |  |  | 346,092 |  |  | 350,000 |  |  | 4,163 |  |  | 345,837 |
5.625% senior unsecured notes due June 2024 | 350,000 |  |  | 6,389 |  |  | 343,611 |  |  | 350,000 |  |  | 6,614 |  |  | 343,386 |
6.750% senior unsecured notes due August 2022 | 750,000 |  |  | 18,500 |  |  | 731,500 |  |  | 750,000 |  |  | 19,296 |  |  | 730,704 |
Total long-term debt | $ | 3,060,000 |  |  | $ | 35,288 |  |  | $ | 3,024,712 |  |  | $ | 3,128,200 |  |  | $ | 36,831 |  |  | $ | 3,091,369 |
As of March 31, 2017, we were in compliance with the financial covenants contained in our credit agreement and senior unsecured notes indentures. Senior Secured Credit Facility The key terms for rates under our $1.7 billion senior secured credit facility, which are dependent on our leverage ratio (as defined in the credit agreement), are as follows: •The applicable margin varies from 1.50% to 2.75% on Eurodollar borrowings and from 0.50% to 1.75% on alternate base rate borrowings. •Letter of credit fees range from 1.50% to 2.50% •The commitment fee on the unused committed amount will range from 0.25% to 0.50%. •The accordion feature is $300.0 million, giving us the ability to expand the size of the facility up to $2.0 billion for acquisitions or growth projects, subject to lender consent. At March 31, 2017, we had $1.2 billion borrowed under our $1.7 billion credit facility, with $70.0 million of the borrowed amount designated as a loan under the inventory sublimit. Our credit agreement allows up to $100.0 million of the capacity to be used for letters of credit, of which $8.7 million was outstanding at March 31, 2017. Due to the revolving nature of loans under our credit facility, additional borrowings and periodic repayments and re-borrowings may be made until the maturity date. The total amount available for borrowings under our credit facility at March 31, 2017 was $481.3 million.

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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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