american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) 7 . financing arrangements outstanding amounts under the company 2019s long-term financing arrangements consisted of the following as of december 31 , ( in thousands ) : .

Table:
 | 2006 | 2005
american tower credit facility | $ 1000000 | $ 793000
spectrasite credit facility | 725000 | 700000
senior subordinated notes | 325075 | 400000
senior subordinated discount notes net of discount and warrant valuation |  | 160252
senior notes net of discount and premium | 728507 | 726754
convertible notes net of discount | 704596 | 773058
notes payable and capital leases | 59838 | 60365
total | 3543016 | 3613429
less current portion of other long-term obligations | -253907 ( 253907 ) | -162153 ( 162153 )
long-term obligations | $ 3289109 | $ 3451276
credit facilities 2014in october 2005 , the company refinanced the two existing credit facilities of its principal operating subsidiaries .
the company replaced the existing american tower $ 1.1 billion senior secured credit facility with a new $ 1.3 billion senior secured credit facility and replaced the existing spectrasite $ 900.0 million senior secured credit facility with a new $ 1.15 billion senior secured credit facility .
in february 2007 , the company secured an additional $ 550.0 million under its credit facilities and drew down $ 250.0 million of the existing revolving loans under the american tower credit facility .
( see note 19. ) during the year ended december 31 , 2006 , the company drew down the remaining amount available under the delayed draw term loan component of the american tower credit facility and drew down $ 25.0 million of the delayed draw term loan component of the spectrasite credit facility to finance debt redemptions and repurchases .
in addition , on october 27 , 2006 , the remaining $ 175.0 million undrawn portion of the delayed draw term loan component of the spectrasite facility was canceled pursuant to its terms .
as of december 31 , 2006 , the american tower credit facility consists of the following : 2022 a $ 300.0 million revolving credit facility , against which approximately $ 17.8 million of undrawn letters of credit are outstanding at december 31 , 2006 , maturing on october 27 , 2010 ; 2022 a $ 750.0 million term loan a , which is fully drawn , maturing on october 27 , 2010 ; and 2022 a $ 250.0 million delayed draw term loan , which is fully drawn , maturing on october 27 , 2010 .
the borrowers under the american tower credit facility include ati , american tower , l.p. , american tower international , inc .
and american tower llc .
the company and the borrowers 2019 restricted subsidiaries ( as defined in the loan agreement ) have guaranteed all of the loans under the credit facility .
these loans are secured by liens on and security interests in substantially all assets of the borrowers and the restricted subsidiaries , with a carrying value aggregating approximately $ 4.5 billion at december 31 , 2006 .
as of december 31 , 2006 , the spectrasite credit facility consists of the following : 2022 a $ 250.0 million revolving credit facility , against which approximately $ 4.6 million of undrawn letters of credit were outstanding at december 31 , 2006 , maturing on october 27 , 2010; .

Question: what percentage of outstanding amounts under the company 2019s long-term financing arrangements is current as of december 31 , 2006?
Answer: 7%
Calculation: divide(253907, 3543016)