XML 23 R13.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Debt | 6 Months Ended
--- | ---
Jun. 30, 2017
Debt Disclosure [Abstract] |
Debt | Debt Our obligations under debt arrangements consisted of the following:
| June 30, 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 | $ | 1,211,000 |  |  | $ | — |  |  | $ | 1,211,000 |  |  | $ | 1,278,200 |  |  | $ | — |  |  | $ | 1,278,200 |
6.000% senior unsecured notes due May 2023 | 400,000 |  |  | 6,224 |  |  | 393,776 |  |  | 400,000 |  |  | 6,758 |  |  | 393,242 |
5.750% senior unsecured notes due February 2021 | 350,000 |  |  | 3,653 |  |  | 346,347 |  |  | 350,000 |  |  | 4,163 |  |  | 345,837 |
5.625% senior unsecured notes due June 2024 | 350,000 |  |  | 6,165 |  |  | 343,835 |  |  | 350,000 |  |  | 6,614 |  |  | 343,386 |
6.750% senior unsecured notes due August 2022 | 750,000 |  |  | 17,699 |  |  | 732,301 |  |  | 750,000 |  |  | 19,296 |  |  | 730,704 |
Total long-term debt | $ | 3,061,000 |  |  | $ | 33,741 |  |  | $ | 3,027,259 |  |  | $ | 3,128,200 |  |  | $ | 36,831 |  |  | $ | 3,091,369 |
As of June 30, 2017, we were in compliance with the financial covenants contained in our credit agreement and senior unsecured notes indentures. Senior Secured Credit Facility In May 2017, we amended our credit agreement to, among other things, (i) extend the maturity date of the credit facility to May 9, 2022 (provided, that if Genesis does not refinance or repay in full its 5.750% senior notes due 2021 on or prior to November 15, 2020, the maturity date will be November 15, 2020), (ii) change the maximum consolidated leverage ratio to 5.75 to 1.0 for the second quarter of 2017 through the second quarter of 2018, 5.50 to 1.0 for the third quarter of 2018 through the fourth quarter of 2019, 5.25 to 1.0 for the first quarter of 2020 through the fourth quarter of 2020 and 5.00 to 1.0 from the first quarter of 2021 and all periods thereafter, and (iii) add an additional level to the leverage-based pricing grid used to calculate the applicable margin for base rate loans and LIBOR loans to account for changes to the maximum consolidated leverage ratio. 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 3.00% on Eurodollar borrowings and from 0.50% to 2.00% on alternate base rate borrowings. •Letter of credit fees range from 1.50% to 3.00% •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 June 30, 2017, we had $1.2 billion borrowed under our $1.7 billion credit facility, with $47.6 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 $1.0 million was outstanding at June 30, 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 June 30, 2017 was $488.0 million.

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration