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DEBT (Tables) | 9 Months Ended
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Sep. 30, 2018
Debt Disclosure [Abstract] |
Schedule of Line of Credit Facilities | The following table provides details of the Company's outstanding credit facility debt:
|  |  |  |  | September 30, 2018 |  | December 31, 2017
| Maturity Date |  | Interest Rate |  | Principal Amount |  | Carrying Amount (a) |  | Principal Amount |  | Carrying Amount (a)
CSC Holdings Restricted Group: |  |  |  |  |  |  |  |  |  |
Revolving Credit Facility (b) | $20,000 on October 9, 2020, remaining balance on November 30, 2021 |  | 5.40 | % |  | $ | 575,000 |  |  | $ | 554,908 |  |  | $ | 450,000 |  |  | $ | 425,488 |
Term Loan Facility | July 17, 2025 |  | 4.41 | % |  | 2,962,500 |  |  | 2,946,318 |  |  | 2,985,000 |  |  | 2,967,818 |
Incremental Term Loan Facility | January 25, 2026 |  | 4.66 | % |  | 1,496,250 |  |  | 1,478,995 |  |  | — |  |  | — |
Cequel: |  |  |  |  |  |  |  |  |  |  |
Revolving Credit Facility (c) | $65,000 on November 30, 2021, and remaining balance on April 5, 2023 |  | — | % |  | — |  |  | — |  |  | — |  |  | — |
Term Loan Facility | July 28, 2025 |  | 4.49 | % |  | 1,249,188 |  |  | 1,241,272 |  |  | 1,258,675 |  |  | 1,250,217 |
|  |  |  |  | $ | 6,282,938 |  |  | 6,221,493 |  |  | $ | 4,693,675 |  |  | 4,643,523 |
Less: Current portion |  |  |  | 57,650 |  |  |  |  | 42,650 |
Long-term debt |  |  |  | $ | 6,163,843 |  |  |  |  | $ | 4,600,873 |
(a) | The carrying amount is net of the unamortized deferred financing costs and/or discounts/premiums.
(b) | At September 30, 2018, $139,929 of the revolving credit facility was restricted for certain letters of credit issued on behalf of the Company and $1,585,071 of the facility was undrawn and available, subject to covenant limitations.
(c) | At September 30, 2018, $7,636 of the revolving credit facility was restricted for certain letters of credit issued on behalf of the Company and $342,364 of the facility was undrawn and available, subject to covenant limitations.
Schedule of Long-term Debt Instruments | The following table summarizes the Company's senior guaranteed notes, senior secured notes and senior notes and debentures:
|  |  |  |  |  |  |  | September 30, 2018 |  | December 31, 2017
Date Issued |  | Maturity Date |  | Interest Rate |  |  |  | Principal Amount |  | Carrying Amount (a) |  | Principal Amount |  | Carrying Amount (a)
CSC Holdings Senior Notes: |  |  |  |  |  |  |  |  |
February 6, 1998 |  | February 15, 2018 |  | 7.875 | % | (b) | (f) | (o) | $ | — |  |  | $ | — |  |  | $ | 300,000 |  |  | $ | 301,184 |
July 21, 1998 |  | July 15, 2018 |  | 7.625 | % | (b) | (f) | (q) | — |  |  | — |  |  | 500,000 |  |  | 507,744 |
February 12, 2009 |  | February 15, 2019 |  | 8.625 | % | (c) | (f) |  | 526,000 |  |  | 531,206 |  |  | 526,000 |  |  | 541,165 |
November 15, 2011 |  | November 15, 2021 |  | 6.750 | % | (c) | (f) |  | 1,000,000 |  |  | 966,913 |  |  | 1,000,000 |  |  | 960,146 |
May 23, 2014 |  | June 1, 2024 |  | 5.250 | % | (c) | (f) |  | 750,000 |  |  | 668,918 |  |  | 750,000 |  |  | 660,601 |
October 9, 2015 |  | January 15, 2023 |  | 10.125 | % | (e) |  |  | 1,800,000 |  |  | 1,780,504 |  |  | 1,800,000 |  |  | 1,777,914 |
October 9, 2015 |  | October 15, 2025 |  | 10.875 | % | (e) |  |  | 1,684,221 |  |  | 1,662,507 |  |  | 1,684,221 |  |  | 1,661,135 |
CSC Holdings Senior Guaranteed Notes: |  |  |  |  |  |  |  |  |
October 9, 2015 |  | October 15, 2025 |  | 6.625 | % | (e) |  |  | 1,000,000 |  |  | 987,707 |  |  | 1,000,000 |  |  | 986,717 |
September 23, 2016 |  | April 15, 2027 |  | 5.500 | % | (g) |  |  | 1,310,000 |  |  | 1,304,816 |  |  | 1,310,000 |  |  | 1,304,468 |
January 29, 2018 |  | February 1, 2028 |  | 5.375 | % | (n) |  |  | 1,000,000 |  |  | 991,896 |  |  | — |  |  | — |
Cablevision Senior Notes (k): |  |  |  |  |  |  |  |  |
April 15, 2010 |  | April 15, 2018 |  | 7.750 | % | (c) | (f) | (o) | — |  |  | — |  |  | 750,000 |  |  | 754,035 |
April 15, 2010 |  | April 15, 2020 |  | 8.000 | % | (c) | (f) |  | 500,000 |  |  | 494,445 |  |  | 500,000 |  |  | 492,009 |
September 27, 2012 |  | September 15, 2022 |  | 5.875 | % | (c) | (f) |  | 649,024 |  |  | 582,236 |  |  | 649,024 |  |  | 572,071 |
Cequel and Cequel Capital Senior Notes (l): |  |  |  |  |  |  |  |  |
Oct. 25, 2012 Dec. 28, 2012 |  | September 15, 2020 |  | 6.375 | % | (d) | (m) |  | — |  |  | — |  |  | 1,050,000 |  |  | 1,027,493 |
May 16, 2013 Sept. 9, 2014 |  | December 15, 2021 |  | 5.125 | % | (d) |  |  | 1,250,000 |  |  | 1,157,405 |  |  | 1,250,000 |  |  | 1,138,870 |
June 12, 2015 |  | July 15, 2025 |  | 7.750 | % | (i) |  |  | 620,000 |  |  | 605,540 |  |  | 620,000 |  |  | 604,374 |
April 5, 2018 |  | April 1, 2028 |  | 7.500 | % | (p) |  |  | 1,050,000 |  |  | 1,048,222 |  |  | — |  |  | — |
Altice US Finance I Corporation Senior Secured Notes (l): |  |  |  |  |  |  |
June 12, 2015 |  | July 15, 2023 |  | 5.375 | % | (h) |  |  | 1,100,000 |  |  | 1,084,542 |  |  | 1,100,000 |  |  | 1,082,482 |
April 26, 2016 |  | May 15, 2026 |  | 5.500 | % | (j) |  |  | 1,500,000 |  |  | 1,488,881 |  |  | 1,500,000 |  |  | 1,488,024 |
|  |  |  |  |  |  |  | $ | 15,739,245 |  |  | 15,355,738 |  |  | $ | 16,289,245 |  |  | 15,860,432 |
Less: current portion |  |  | 531,206 |  |  |  |  | 507,744 |
Long-term debt |  |  | $ | 14,824,532 |  |  |  |  | $ | 15,352,688 |
(a) | The carrying amount is net of the unamortized deferred financing costs and/or discounts/premiums.
(b) | The debentures are not redeemable by CSC Holdings prior to maturity.
(c) | Notes are redeemable at any time at a specified "make-whole" price plus accrued and unpaid interest to the redemption date.
(d) | The Company may redeem some or more of all the notes at the redemption price set forth in the relevant indenture, plus accrued and unpaid interest.
(e) | The Company may redeem some or all of the 2023 Notes at any time on or after January 15, 2019, and some or all of the 2025 Notes and 2025 Guaranteed Notes at any time on or after October 15, 2020, at the redemption prices set forth in the relevant indenture, plus accrued and unpaid interest, if any. The Company may also redeem up to 40% of each series of the notes using the proceeds of certain equity offerings before October 15, 2018, at a redemption price equal to 110.125% for the 2023 Notes, 110.875% for the 2025 Notes and 106.625% for the 2025 Guaranteed Notes, in each case plus accrued and unpaid interest. In addition, at any time prior to January 15, 2019, CSC Holdings may redeem some or all of the 2023 Notes, and at any time prior to October 15, 2020, the Company may redeem some or all of the 2025 Notes and the 2025 Guaranteed Notes, at a price equal to 100% of the principal amount thereof, plus a “make whole” premium specified in the relevant indenture plus accrued and unpaid interest.
(f) | The carrying value of the notes was adjusted to reflect their fair value on the date of the Cablevision Acquisition (aggregate reduction of $52,788 at the date of the acquisition).
(g) | The 2027 Guaranteed Notes are redeemable at any time on or after April 15, 2022 at the redemption prices set forth in the indenture, plus accrued and unpaid interest, if any. In addition, up to 40% may be redeemed for each series of the 2027 Guaranteed Notes using the proceeds of certain equity offerings before October 15, 2019, at a redemption price equal to 105.500%, plus accrued and unpaid interest.
(h) | Some or all of these notes may be redeemed at any time on or after July 15, 2018, plus accrued and unpaid interest, if any.
(i) | Some or all of these notes may be redeemed at any time on or after July 15, 2020, plus accrued and unpaid interest, if any.
(j) | Some or all of these notes may be redeemed at any time on or after May 15, 2021, plus accrued and unpaid interest, if any. Up to 40% of the notes may be redeemed using the proceeds of certain equity offerings before May 15, 2019, at a redemption price equal to 105.500%.
(k) | The issuers of these notes have no ability to service interest or principal on the notes, other than through any dividends or distributions received from CSC Holdings. CSC Holdings is restricted, in certain circumstances, from paying dividends or distributions to the issuers by the terms of the CSC Holdings credit facilities agreement.
(l) | The issuers of these notes have no ability to service interest or principal on the notes, other than through any contributions/distributions from Cequel Communications, LLC (an indirect subsidiary of Cequel and the parent of Altice US Finance I). Cequel Communications, LLC is restricted in certain circumstances, from paying dividends or distributions to the issuers by the terms of the Cequel credit facilities agreement.
(m) | These notes were repaid in April 2018 with the proceeds from the issuance of new senior notes.
(n) | The 2028 Guaranteed Notes are redeemable at any time on or after February 1, 2023 at the redemption prices set forth in the indenture, plus accrued and unpaid interest, if any. In addition, up to 40% of the original aggregate principal amount of the notes may be redeemed using the proceeds of certain equity offerings before February 1, 2021, at a redemption price equal to 105.375%, plus accrued and unpaid interest.
(o) | These notes were repaid in February 2018 with the proceeds from the 2028 Guaranteed Notes (defined below) and with the proceeds from the Incremental Term Loan.
(p) | The 2028 Senior Notes are redeemable at any time prior to April 1, 2023 at a redemption price equal to 100% of the principal amount thereof plus the applicable premium plus accrued and unpaid interest, if any. Up to 40% of the original aggregate principal amount of the 2028 Senior Notes may be redeemed using the proceeds of certain equity offerings before April 1, 2021, at a redemption price equal to 107.50% of the principal amount, plus accrued and unpaid interest. In addition, the 2028 Senior Notes are redeemable at any time on or after April 1, 2023 at the redemption prices set forth in indenture, plus accrued and unpaid interest.
(q) | These notes were repaid in July 2018 with borrowings under CSC Holdings revolving credit facility agreement.
Schedule of Maturities of Long-term Debt | The future maturities of debt payable by the Company under its various debt obligations outstanding as of September 30, 2018, including notes payable, collateralized indebtedness (see Note 10), and capital leases, are as follows:
Years Ending December 31, | Cablevision |  | Cequel |  | Total
2018 | $ | 30,678 |  |  | $ | 6,446 |  |  | $ | 37,124 |
2019 | 598,210 |  |  | 43,999 |  |  | 642,209 |
2020 | 550,396 |  |  | 12,720 |  |  | 563,116 |
2021 | 3,083,892 |  |  | 1,262,729 |  |  | 4,346,621 |
2022 | 697,147 |  |  | 12,739 |  |  | 709,886 |
Thereafter | 11,815,174 |  |  | 5,466,230 |  |  | 17,281,404 |

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