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Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2017
Long-term Debt, Unclassified [Abstract]  
Schedule Of Long-Term Debt
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

 
Each loan under the agreement bore 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%
The following table presents additional information related to the 2027, 2023 and 2016 Notes (the "Notes"):

 
 
 
 
 
 Principal as of December 31,
 
 
 
Annual interest rate
 
Currency
 
2017
 
2016
 
Maturity
2027 Notes
5.875
%
 
USD
 
265,000

 
—

 
April 4, 2027
2023 Notes
6.625
%
 
USD
 
348,069

 
393,767

 
September 27, 2023



2027, 2023 and 2016 Notes (continued):

 
 
 Interest Expense (i)
 
 DFC Amortization (i)
 
 Accretion of Premium and Amortization of Discount (i)
 
 
2017
 
2016
 
2015
 
2017
 
2016
 
2015
 
2017
 
2016
 
2015
2027 Notes
 
11,547

 
—

 
—

 
224

 
—

 
—

 
—

 
—

 
—

2023 Notes
 
23,885

 
28,516

 
31,387

 
610

 
943

 
439

 
752

 
1,157

 
515

2016 Notes
 
—

 
6,668

 
20,991

 
—

 
391

 
805

 
—

 
(266
)
 
(496
)

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

Long-term debt consists of the following at year-end: 
 
 
2017
 
2016
2027 Notes
 
$
265,000

 
$
—

2023 Notes
 
348,069

 
393,767

Secured Loan Agreement
 
—

 
167,262

Capital lease obligations
 
4,539

 
4,704

Other long-term borrowings
 
22,900

 
25,553

Subtotal
 
640,508

 
591,286

Discount on 2023 Notes
 
(3,804
)
 
(5,029
)
Premium on 2023 Notes
 
1,438

 
1,910

Fair value adjustment related to Secured Loan Agreement (i)
 
—

 
(2,877
)
Deferred financing costs
 
(4,641
)
 
(5,611
)
Total
 
633,501

 
579,679

Current portion of long-term debt
 
4,359

 
28,099

Long-term debt, excluding current portion
 
$
629,142

 
$
551,580



(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 was also recorded at fair value included within "Derivative instruments" in current and non-current liabilities as of December 31, 2016.
The following table presents information related to the Secured Loan Agreement:
 Interest Expense (i) (ii)
 
 DFC Amortization (ii)
 
 Other Costs (ii) (iii)
2017
 
2016
 
2015
 
2017
 
2016
 
2015
 
2017
 
2016
 
2015
$
2,570

 
$
6,519

 
$
—

 
$
3,251

 
$
814

 
$
—

 
$
2,249

 
$
—

 
$
—


(i)
These charges do not include the effect of the cross-currency interest rate swap agreements mentioned in Note 13, amounting to a loss of $6,921 and $18,177, during fiscal years 2017 and 2016, respectively. Including these effects the total interest cost amounts to $9,491 and $24,696, respectively.
(ii)
These charges are included within "Net interest expense" in the consolidated statement of income.
(iii)
Transaction costs related to the repayment of the Loan.
Schedule Of Future Payments Related To Long-Term Debt
 
 
Principal
 
Interest
 
Total
2018
 
4,359

 
40,920

 
45,279

2019
 
4,404

 
40,557

 
44,961

2020
 
3,895

 
40,217

 
44,112

2021
 
3,831

 
39,862

 
43,693

2022
 
4,040

 
39,468

 
43,508

Thereafter
 
619,979

 
94,148

 
714,127

Total payments
 
640,508

 
295,172

 
935,680

Interest
 
—

 
(295,172
)
 
(295,172
)
Discount on 2023 Notes
 
(3,804
)
 
—

 
(3,804
)
Premium on 2023 Notes
 
1,438

 
—

 
1,438

Deferred financing cost
 
(4,641
)
 
—

 
(4,641
)
Long-term debt
 
$
633,501

 
$
—

 
$
633,501