Earthlink 2014 Annual Report Download - page 58

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Table of Contents
Item 7a. Quantitative and Qualitative Disclosures about Market Risk.
We are exposed to interest rate risk with respect to our outstanding indebtedness. As of December 31, 2013 and 2014
, we had approximately
$592.2 million and $593.4 million , respectively, of long-
term debt outstanding (excluding capital lease obligations), all of which bear interest at
fixed rates. For more information regarding our outstanding indebtedness, refer to Note 10, "Long-
Term Debt and Capital Lease Obligations," to
our Consolidated Financial Statements. The fair value of our outstanding indebtedness may be adversely impacted due to a rise in interest rates.
In general, securities with longer maturities are subject to greater interest rate risk than those with shorter maturities. The following table
presents the fair value of our outstanding indebtedness, excluding capital lease obligations, as of December 31, 2013 and 2014 :
53
As of December 31, 2013
As of December 31, 2014
Carrying
Amount
Fair Value
Carrying
Amount
Fair Value
(in thousands)
Senior Secured Notes
$
300,000
$
303,663
$
300,000
301,503
Senior Notes
292,238
304,470
293,399
300,300
Total debt, excluding capital leases
$
592,238
$
608,133
$
593,399
601,803