Annual report pursuant to Section 13 and 15(d)

Long-Term Debt (Tables)

v3.6.0.2
Long-Term Debt (Tables)
12 Months Ended
Dec. 31, 2016
Debt Disclosure [Abstract]  
Interest Expense
Interest Expense
The following table summarizes the components of interest expense for the periods presented:
 
Successor
 
 
Predecessor
 
Period From January 13, 2016
 
 
Period From January 1, 2016
 
Year Ended December 31,
 
Through December 31, 2016
 
 
Through September 12, 2016
 
2015
 
2014
Interest on borrowings and related fees 1
$
678

 
 
$
36,012

 
$
92,490

 
$
91,866

Amortization of debt issuance costs 2
226

 
 
22,189

 
4,749

 
4,197

Capitalized interest
(25
)
 
 
(183
)
 
(6,288
)
 
(7,232
)
 
$
879

 
 
$
58,018

 
$
90,951

 
$
88,831


______________________
1 Absent the bankruptcy proceedings and the corresponding suspension of the accrual of interest on unsecured debt, we would have recorded total contractual interest expense of $66.1 million for the period from January 1, 2016 through September 12, 2016, including $15.3 million attributable to the 2019 Senior Notes and $46.3 million attributable to the 2020 Senior Notes.
2  
Includes $20.5 million related to the accelerated write-off of unamortized debt issuance costs associated with the RBL and Senior Notes (see Note 11).
Carrying Amount of Components of Long-term Debt
The following table summarizes our long-term debt as of the dates presented:
 
Successor
 
 
Predecessor
 
December 31, 2016
 
 
December 31, 2015
 
Principal
 
Unamortized Issuance Costs 1
 
 
Principal
 
Unamortized Issuance Costs 1
Credit facility 2
$
25,000

 
 
 
 
$

 
 
Pre-petition credit facility 3
 
 
 
 
 
170,000

 
 
Senior notes due 2019

 
$

 
 
300,000

 
$
3,295

Senior notes due 2020

 

 
 
775,000

 
17,322

Totals
25,000

 
$

 
 
1,245,000

 
$
20,617

Less: Unamortized issuance costs

 
 
 
 
(20,617
)
 
 
Less: Current portion

 
 
 
 
(1,224,383
)
 
 
Long-term debt, net of unamortized issuance costs
$
25,000

 
 
 
 
$

 
 
Components of Interest Expense
The following table summarizes the components of interest expense for the periods presented:
 
Successor
 
 
Predecessor
 
Period From January 13, 2016
 
 
Period From January 1, 2016
 
Year Ended December 31,
 
Through December 31, 2016
 
 
Through September 12, 2016
 
2015
 
2014
Interest on borrowings and related fees 1
$
678

 
 
$
36,012

 
$
92,490

 
$
91,866

Amortization of debt issuance costs 2
226

 
 
22,189

 
4,749

 
4,197

Capitalized interest
(25
)
 
 
(183
)
 
(6,288
)
 
(7,232
)
 
$
879

 
 
$
58,018

 
$
90,951

 
$
88,831


______________________
1 Absent the bankruptcy proceedings and the corresponding suspension of the accrual of interest on unsecured debt, we would have recorded total contractual interest expense of $66.1 million for the period from January 1, 2016 through September 12, 2016, including $15.3 million attributable to the 2019 Senior Notes and $46.3 million attributable to the 2020 Senior Notes.
2  
Includes $20.5 million related to the accelerated write-off of unamortized debt issuance costs associated with the RBL and Senior Notes (see Note 11).