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Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2016
Long-term Debt, Unclassified [Abstract]  
Schedule Of Long-Term Debt
Each loan under the agreement bears interest at the following annual interest rates:
Lender
 
Annual Interest Rate
Citibank N.A.
 
3M LIBOR + 2.439%
Itaú BBA International plc
 
5.26%
Banco Santander (Brasil) S.A., Cayman Islands Branch
 
4.7863%
Bank of America N.A.
 
3M LIBOR + 4.00%
JP Morgan Chase Bank, N.A.
 
3M LIBOR + 3.92%
Long-term debt consists of the following at year-end: 
 
 
2016
 
2015
2023 Notes
 
$
393,767

 
$
473,767

2016 Notes
 
—

 
158,544

Secured loan agreement
 
167,262

 
—

Capital lease obligations
 
4,704

 
5,599

Other long-term borrowings
 
25,553

 
22,465

Subtotal
 
591,286

 
660,375

Discount on 2023 Notes
 
(5,029
)
 
(6,918
)
Premium on 2023 Notes
 
1,910

 
2,640

Premium on 2016 Notes
 
—

 
245

Fair value adjustment related to Secured loan agreement (i)
 
(2,877
)
 
—

Deferred financing costs
 
(5,611
)
 
(3,775
)
Total
 
579,679

 
652,567

Current portion of long-term debt
 
28,099

 
161,240

Long-term debt, excluding current portion
 
$
551,580

 
$
491,327



 (i) The carrying value of hedged items in fair value hedges, are adjusted for fair value changes to the extent they are attributable to the risks designated as being hedged. The related hedging instrument is also recorded at fair value included within "Derivative instruments" in liabilities current and non-current.
The following table presents additional information related to the 2023 Notes and 2016 Notes:
 
 
 
 
 
 Principal as of December 31,
 
 
 
Annual interest rate
 
Currency
 
2016
 
2015
 
Maturity
2023 Notes
6.625
%
 
USD
 
$
393,767

 
473,767

 
September 27, 2023
2016 Notes
10.25
%
 
BRL
 
—

 
158,544

 
July 13, 2016

 
 
 Interest Expense (i)
 
 DFC Amortization (i)
 
 Accretion of Premium and Amortization of Discount (i)
 
 
2016
 
2015
 
2014
 
2016
 
2015
 
2014
 
2016
 
2015
 
2014
2023 Notes
 
$
28,516

 
$
31,387

 
$
31,387

 
$
943

 
$
439

 
$
438

 
$
1,157

 
$
515

 
$
506

2016 Notes
 
6,668

 
20,991

 
29,490

 
391

 
805

 
778

 
(266
)
 
(496
)
 
(692
)
(i) These charges are included within "Net interest expense" in the consolidated statements of income (loss).

The following table presents information related to the Secured loan agreement:
 Interest Expense (i) (ii)
 
 DFC Amortization (ii)
2016
 
2015
2014
 
2016
 
 
2015
 
2014
$
6,519

 
$
—

$
—

 
$
814

 
 
$
—

 
$
—


(i)
This charge does not include the effect of the cross-currency interest rate swap agreements mentioned in Note 13, amounting to a loss of $18,177. Including this effect the total interest cost amounts to $24,696.
(ii) These charges are included within "Net interest expense" in the consolidated statement of income (loss).
The following table presents information related to the purchase and repayments of the principal of the 2016 Notes:
 
 
Amount
Date
Redemption price
BRL
$
November 25, 2015
93.75%
40,000

 
9,995

 
November 30, 2015
93.75%
7,039

 
1,715

 
January 29, 2016
97.75%
1,180

 
288

 
April 21, 2016
100.00%
421,765

 
118,797

 
May 5, 2016
97.00%
4,025

 
1,106

 
July 13, 2016
100.00%
200,991

 
60,965

 
Total
 
675,000

 
192,866

 
Schedule Of Future Payments Related To Long-Term Debt
At December 31, 2016, future payments related to the Company’s long-term debt are as follows:

 
 
Principal
 
Interest
 
Total
2017
 
$
19,974

 
$
37,200

 
$
57,174

2018
 
54,402

 
34,793

 
89,195

2019
 
71,165

 
31,523

 
102,688

2020
 
37,253

 
28,057

 
65,310

2021
 
3,782

 
27,267

 
31,049

Thereafter
 
404,710

 
53,945

 
458,655

Total payments
 
591,286

 
212,785

 
804,071

Interest
 
—

 
(212,785
)
 
(212,785
)
Discount on 2023 Notes
 
(5,029
)
 
—

 
(5,029
)
Premium on 2023 Notes
 
1,910

 
—

 
1,910

Fair value adjustments
 
(2,877
)
 
—

 
(2,877
)
Deferred financing cost
 
(5,611
)
 
—

 
(5,611
)
Long-term debt
 
$
579,679

 
$
—

 
$
579,679