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Bonds Payable
12 Months Ended
Dec. 31, 2011
Bonds Payable [Abstract]  
Bonds Payable

NOTE F – BONDS PAYABLE

In 1999, the Company issued public bonds to fund the construction of two of its reusable processing facilities. Interest rates on the bonds adjusted based upon rates that approximate LIBOR. In October 2008, $6.0 million of the Company's bonds were tendered. The holders of the tendered bonds were paid from draws against the letters of credit under the Company's Credit Facility. Under the terms of the indentures relating to the bonds, the tendered bonds could be remarketed at any time prior to their maturity in 2014.

On March 10, 2011, the $6.0 million of tendered bonds were reissued, generating approximately $6.0 million of proceeds. The proceeds were used to pay down the Company's outstanding notes payable.

On July 1, 2011, the Company redeemed all of its public bonds with a principal amount of $6.6 million with funds available under the Company's Credit Facility. The bonds were redeemed at par value, therefore no gain or loss was recognized as a result of the redemption of the bonds.