Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.8.0.1
Debt (Tables)
3 Months Ended
Mar. 31, 2018
Debt Disclosure [Abstract]  
Schedule of long-term debt instruments
Our debt as of March 31, 2018 and December 31, 2017 consisted of the following:
 
 
 
 
 
 
 
 
 
 
 
 
Carrying value(a) at
Issuer / Borrower
 
Issued
 
Debt
 
Maturity Date
 
Interest Payable
 
Principal Amount at March 31, 2018
 
March 31, 2018
 
December 31, 2017
Sirius XM
(b)
 
July 2017
 
3.875% Senior Notes
(the "3.875% Notes")
 
August 1, 2022
 
semi-annually on February 1 and August 1
 
1,000,000

 
992,409

 
992,011

Sirius XM
(b)
 
May 2013
 
4.625% Senior Notes
(the "4.625% Notes")
 
May 15, 2023
 
semi-annually on May 15 and November 15
 
500,000

 
496,784

 
496,646

Sirius XM
(b)
 
May 2014
 
6.00% Senior Notes
(the "6.00% Notes")
 
July 15, 2024
 
semi-annually on January 15 and July 15
 
1,500,000

 
1,488,377

 
1,488,002

Sirius XM
(b)
 
March 2015
 
5.375% Senior Notes
(the "5.375% Notes due 2025")
 
April 15, 2025
 
semi-annually on April 15 and October 15
 
1,000,000

 
991,529

 
991,285

Sirius XM
(b)
 
May 2016
 
5.375% Senior Notes
(the "5.375% Notes due 2026")
 
July 15, 2026
 
semi-annually on January 15 and July 15
 
1,000,000

 
990,366

 
990,138

Sirius XM
(b)
 
July 2017
 
5.00% Senior Notes
(the "5.00% Notes")
 
August 1, 2027
 
semi-annually on February 1 and August 1
 
1,500,000

 
1,486,443

 
1,486,162

Sirius XM
(c)
 
December 2012
 
Senior Secured Revolving Credit Facility (the "Credit Facility")
 
June 16, 2020
 
variable fee paid quarterly
 
1,750,000

 
365,000

 
300,000

Sirius XM
 
Various
 
Capital leases
 
Various
 
 n/a
 
 n/a

 
9,684

 
10,597

Total Debt
 
6,820,592

 
6,754,841

Less: total current maturities
 
4,911

 
5,105

Less: total deferred financing costs for Notes
 
8,233

 
8,493

Total long-term debt
 
$
6,807,448

 
$
6,741,243

(a)
The carrying value of the obligations is net of any remaining unamortized original issue discount.
(b)
Substantially all of our domestic wholly-owned subsidiaries have guaranteed these notes.
(c)
Sirius XM's obligations under the Credit Facility are guaranteed by certain of its material domestic subsidiaries and are secured by a lien on substantially all of Sirius XM's assets and the assets of its material domestic subsidiaries.  Interest on borrowings is payable on a monthly basis and accrues at a rate based on LIBOR plus an applicable rate.  Sirius XM is also required to pay a variable fee on the average daily unused portion of the Credit Facility which is payable on a quarterly basis.  The variable rate for the unused portion of the Credit Facility was 0.25% per annum as of March 31, 2018.  Sirius XM's outstanding borrowings under the Credit Facility are classified as Long-term debt within our unaudited consolidated balance sheets due to the long-term maturity of this debt.