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<div style="margin-top: 12pt; font-size: 10pt;" align="left"><b>Note 2. Fair Value Measurements</b> </div>
<div style="margin-top: 6pt; font-size: 10pt;" align="left"> The following tables set forth the classification within the fair value hierarchy of our financial instruments measured at fair value on a recurring basis in the accompanying condensed consolidated balance sheet as of March 31, 2011 and December 31, 2010 (in thousands): </div>
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<table style="font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr valign="bottom"><td width="52%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td></tr>
<tr style="font-size: 8pt;" valign="bottom"><td> </td>
<td> </td>
<td colspan="10" nowrap="nowrap" align="center"><b>Fair Value Measurements as of</b></td>
<td> </td>
<td> </td>
<td colspan="2" nowrap="nowrap" align="center"> </td>
<td> </td></tr>
<tr style="font-size: 8pt;" valign="bottom"><td> </td>
<td> </td>
<td colspan="10" nowrap="nowrap" align="center"><b>March 31, 2011</b></td>
<td> </td>
<td> </td>
<td colspan="2" nowrap="nowrap" align="center"><b>Fair Value as of</b></td>
<td> </td></tr>
<tr style="font-size: 8pt;" valign="bottom"><td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="10" nowrap="nowrap" align="center"><b>Using the Fair Value Hierarchy</b></td>
<td> </td>
<td> </td>
<td colspan="2" nowrap="nowrap" align="center"><b>March 31,</b></td>
<td> </td></tr>
<tr style="font-size: 8pt;" valign="bottom"><td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="left"><b>Financial Instruments</b></td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>Level 1</b></td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>Level 2</b></td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>Level 3</b></td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>2011</b></td>
<td> </td></tr>
<tr valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Short-term investments:</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 30px;">Available-for-sale securities — Nextel Brazil investments</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">90,426</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">90,426</td>
<td> </td></tr>
<tr style="font-size: 1px;"><td>
<div style="text-indent: -15px; margin-left: 30px;"> </div></td>
<td> </td>
<td style="border-top: #000000 3px double;" colspan="2" nowrap="nowrap" align="right"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 3px double;" colspan="2" nowrap="nowrap" align="right"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 3px double;" colspan="2" nowrap="nowrap" align="right"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 3px double;" colspan="2" nowrap="nowrap" align="right"> </td>
<td> </td></tr></table></div>
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<table style="font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr valign="bottom"><td width="52%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td>
<td width="5%"> </td>
<td width="1%"> </td></tr>
<tr style="font-size: 8pt;" valign="bottom"><td> </td>
<td> </td>
<td colspan="10" nowrap="nowrap" align="center"><b>Fair Value Measurements as of</b></td>
<td> </td>
<td> </td>
<td colspan="2" nowrap="nowrap" align="center"> </td>
<td> </td></tr>
<tr style="font-size: 8pt;" valign="bottom"><td> </td>
<td> </td>
<td colspan="10" nowrap="nowrap" align="center"><b>December 31, 2010</b></td>
<td> </td>
<td> </td>
<td colspan="2" nowrap="nowrap" align="center"><b>Fair Value as of</b></td>
<td> </td></tr>
<tr style="font-size: 8pt;" valign="bottom"><td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="10" nowrap="nowrap" align="center"><b>Using the Fair Value Hierarchy</b></td>
<td> </td>
<td> </td>
<td colspan="2" nowrap="nowrap" align="center"><b>December 31,</b></td>
<td> </td></tr>
<tr style="font-size: 8pt;" valign="bottom"><td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="left"><b>Financial Instruments</b></td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>Level 1</b></td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>Level 2</b></td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>Level 3</b></td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>2010</b></td>
<td> </td></tr>
<tr valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Short-term investment:</div></td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td></tr>
<tr valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 30px;">Available-for-sale securities — Nextel Brazil investments</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">50,778</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">—</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">50,778</td>
<td> </td></tr>
<tr style="font-size: 1px;"><td>
<div style="text-indent: -15px; margin-left: 30px;"> </div></td>
<td> </td>
<td style="border-top: #000000 3px double;" colspan="2" nowrap="nowrap" align="right"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 3px double;" colspan="2" nowrap="nowrap" align="right"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 3px double;" colspan="2" nowrap="nowrap" align="right"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 3px double;" colspan="2" nowrap="nowrap" align="right"> </td>
<td> </td></tr></table></div></div>
<div style="margin-top: 6pt; font-size: 10pt;" align="left"> Available-for-sale securities include short-term investments made by Nextel Brazil, primarily in Brazilian government bonds, long-term, low-risk bank certificates of deposit and Brazilian corporate debentures. We account for these securities at fair value in accordance with the FASB's authoritative guidance surrounding the accounting for investments in debt and equity securities. The fair value of the securities is based on the net asset value of the funds. In our judgment, these securities trade with sufficient daily observable market activity to support a Level 1 classification within the fair value hierarchy. </div>
<div style="margin-top: 6pt; margin-left: 1%; font-size: 10pt;" align="left"><b><i>Other Financial Instruments.</i></b> </div>
<div style="margin-top: 6pt; font-size: 10pt;" align="left"> We estimate the fair value of our financial instruments other than our available-for-sale securities, including cash and cash equivalents, held-to-maturity investments, accounts receivable, accounts payable, derivative instruments and debt. The carrying value of cash and cash equivalents, accounts receivable, accounts payable and short-term borrowings contained in the condensed consolidated balance sheets approximate their fair values due to the short-term nature of these instruments. The fair values of our derivative instruments are immaterial. </div>
<div style="margin-top: 6pt; margin-left: 1%; font-size: 10pt;" align="left"><b><i>Held-to-Maturity Investments.</i></b> </div>
<div style="margin-top: 6pt; font-size: 10pt;" align="left"> We periodically invest some of our cash holdings in certain securities that we intend to hold to maturity. These held-to-maturity securities include investments in U.S. treasury securities, as well as investments in corporate bonds, which consist of securities issued by U.S. government agencies and corporate debt securities backed by the U.S. government with maturities ranging from <font class="_mt">one</font> to <font class="_mt">fourteen</font> months. We account for held-to-maturity securities at amortized cost. We determined the fair value of our held-to-maturity investments in U.S. treasury securities based on quoted market prices for the individual instruments. In our judgment, these securities trade with sufficient daily observable market activity to support a Level 1 classification within the fair value hierarchy. We determined the fair value of our investments in corporate bonds based on reported trade data in a broker dealer market for the individual instruments. We consider these measurements to be Level 2 in the fair value hierarchy. The gross unrecognized holding gains and losses as of March 31, 2011 were immaterial. The carrying amounts and estimated fair values of our held-to-maturity investments as of March 31, 2011 and December 31, 2010 are as follows:
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<table style="font-family: 'Times New Roman', Times; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr style="font-size: 1pt;" valign="bottom"><td width="57%"> </td>
<td width="2%"> </td>
<td width="1%" align="right"> </td>
<td width="6%" align="right"> </td>
<td width="1%" align="left"> </td>
<td width="3%"> </td>
<td width="1%" align="right"> </td>
<td width="6%" align="right"> </td>
<td width="1%" align="left"> </td>
<td width="3%"> </td>
<td width="1%" align="right"> </td>
<td width="6%" align="right"> </td>
<td width="1%" align="left"> </td>
<td width="3%"> </td>
<td width="1%" align="right"> </td>
<td width="6%" align="right"> </td>
<td width="1%" align="left"> </td></tr>
<tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center"> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>March 31, 2011</b> </td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>December 31, 2010</b> </td>
<td> </td></tr>
<tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center"> </td>
<td> </td>
<td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Carrying<br /></b></td>
<td> </td>
<td> </td>
<td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Estimated<br /></b></td>
<td> </td>
<td> </td>
<td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Carrying<br /></b></td>
<td> </td>
<td> </td>
<td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Estimated<br /></b></td>
<td> </td></tr>
<tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center"> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Amount</b> </td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair Value</b> </td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Amount</b> </td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair Value</b> </td>
<td> </td></tr>
<tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center"> </td>
<td> </td>
<td valign="bottom" colspan="14" align="center"><b>(in thousands)</b> </td>
<td> </td></tr>
<tr style="line-height: 3pt; font-size: 1pt;"><td> </td></tr>
<tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left">
<div style="text-indent: -10pt; margin-left: 10pt;">Short-term investments: </div></td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right"> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right"> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right"> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right"> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td></tr>
<tr valign="bottom"><td valign="bottom" align="left">
<div style="text-indent: -10pt; margin-left: 20pt;"><font style="white-space: nowrap;" class="_mt">Held-to-maturity</font> securities — U.S. Treasuries </div></td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left">$ </td>
<td valign="bottom" nowrap="nowrap" align="right">200,293 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left">$ </td>
<td valign="bottom" nowrap="nowrap" align="right">201,392 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left">$ </td>
<td valign="bottom" nowrap="nowrap" align="right">421,653 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left">$ </td>
<td valign="bottom" nowrap="nowrap" align="right">423,613 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td></tr>
<tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left">
<div style="text-indent: -10pt; margin-left: 20pt;"><font style="white-space: nowrap;" class="_mt">Held-to-maturity</font> securities — corporate bonds </div></td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right">65,011 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right">65,251 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right">65,108 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right">65,392 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td></tr>
<tr style="font-size: 1pt;" valign="bottom"><td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td> </td></tr>
<tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right">265,304 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right">266,643 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right">486,761 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right">489,005 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td></tr>
<tr style="font-size: 1pt;" valign="bottom"><td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td> </td></tr>
<tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left">
<div style="text-indent: -10pt; margin-left: 10pt;">Long-term investments: </div></td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right"> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right"> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right"> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right"> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td></tr>
<tr valign="bottom"><td valign="bottom" align="left">
<div style="text-indent: -10pt; margin-left: 20pt;"><font style="white-space: nowrap;" class="_mt">Held-to-maturity</font> securities — U.S. Treasuries </div></td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right">254,484 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right">236,540 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right">— </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right">— </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td></tr>
<tr style="font-size: 1pt;" valign="bottom"><td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td> </td></tr>
<tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left">$ </td>
<td valign="bottom" nowrap="nowrap" align="right">519,788 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left">$ </td>
<td valign="bottom" nowrap="nowrap" align="right">503,183 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left">$ </td>
<td valign="bottom" nowrap="nowrap" align="right">486,761 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left">$ </td>
<td valign="bottom" nowrap="nowrap" align="right">489,005 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td></tr>
<tr style="font-size: 1pt;" valign="bottom"><td> </td>
<td> </td>
<td style="border-top: #000000 3px double;"> </td>
<td style="border-top: #000000 3px double;"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 3px double;"> </td>
<td style="border-top: #000000 3px double;"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 3px double;"> </td>
<td style="border-top: #000000 3px double;"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 3px double;"> </td>
<td style="border-top: #000000 3px double;"> </td>
<td> </td></tr></table></div><b><i>Long-Term Debt Instruments.</i></b> </div></div>
<div style="font-family: 'Times New Roman',Times,serif;">
<div style="margin-top: 6pt; font-size: 10pt;" align="left"> The carrying amounts and estimated fair values of our long-term debt instruments as of March 31, 2011 and December 31, 2010 are as follows:
<div style="width: 87%; margin-left: 6%;">
<div style="text-indent: 32px; font-family: 'Times New Roman', Times; background: none transparent scroll repeat 0% 0%; color: #000000; margin-left: 0%; font-size: 10pt; margin-right: 0%;" align="left"> </div>
<table style="font-family: 'Times New Roman', Times; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%" align="center">
<tr style="font-size: 1pt;" valign="bottom"><td width="49%"> </td>
<td width="2%"> </td>
<td width="1%" align="right"> </td>
<td width="8%" align="right"> </td>
<td width="1%" align="left"> </td>
<td width="3%"> </td>
<td width="1%" align="right"> </td>
<td width="8%" align="right"> </td>
<td width="1%" align="left"> </td>
<td width="3%"> </td>
<td width="1%" align="right"> </td>
<td width="8%" align="right"> </td>
<td width="1%" align="left"> </td>
<td width="3%"> </td>
<td width="1%" align="right"> </td>
<td width="8%" align="right"> </td>
<td width="1%" align="left"> </td></tr>
<tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center"> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>March 31, 2011</b> </td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="6" align="center"><b>December 31, 2010</b> </td>
<td> </td></tr>
<tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center"> </td>
<td> </td>
<td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Carrying<br /></b></td>
<td> </td>
<td> </td>
<td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Estimated<br /></b></td>
<td> </td>
<td> </td>
<td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Carrying<br /></b></td>
<td> </td>
<td> </td>
<td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Estimated<br /></b></td>
<td> </td></tr>
<tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center"> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Amount</b> </td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair Value</b> </td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Amount</b> </td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>Fair Value</b> </td>
<td> </td></tr>
<tr style="font-size: 8pt;" valign="bottom" align="center"><td valign="bottom" nowrap="nowrap" align="center"> </td>
<td> </td>
<td valign="bottom" colspan="2" nowrap="nowrap" align="center"> </td>
<td> </td>
<td> </td>
<td valign="bottom" colspan="6" align="center"><b>(in thousands)</b> </td>
<td> </td>
<td> </td>
<td valign="bottom" colspan="2" nowrap="nowrap" align="center"> </td>
<td> </td></tr>
<tr style="line-height: 3pt; font-size: 1pt;"><td> </td></tr>
<tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left">
<div style="text-indent: -10pt; margin-left: 10pt;">Senior notes </div></td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left">$ </td>
<td valign="bottom" nowrap="nowrap" align="right">2,030,148 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left">$ </td>
<td valign="bottom" nowrap="nowrap" align="right">2,227,400 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left">$ </td>
<td valign="bottom" nowrap="nowrap" align="right">1,279,524 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left">$ </td>
<td valign="bottom" nowrap="nowrap" align="right">1,428,000 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td></tr>
<tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left">
<div style="text-indent: -10pt; margin-left: 10pt;">Convertible notes </div></td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right">1,052,909 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right">1,101,375 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right">1,043,236 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right">1,078,000 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td></tr>
<tr style="background: #cceeff;" valign="bottom"><td valign="bottom" align="left">
<div style="text-indent: -10pt; margin-left: 10pt;">Syndicated loan facilities </div></td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right">432,625 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right">430,902 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right">458,964 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right">457,187 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td></tr>
<tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left">
<div style="text-indent: -10pt; margin-left: 10pt;">Other </div></td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right">255,208 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right">256,531 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right">193,460 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right">195,620 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td></tr>
<tr style="font-size: 1pt;" valign="bottom"><td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td style="border-top: #000000 1px solid;"> </td>
<td> </td></tr>
<tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left">$ </td>
<td valign="bottom" nowrap="nowrap" align="right">3,770,890 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left">$ </td>
<td valign="bottom" nowrap="nowrap" align="right">4,016,208 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left">$ </td>
<td valign="bottom" nowrap="nowrap" align="right">2,975,184 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left">$ </td>
<td valign="bottom" nowrap="nowrap" align="right">3,158,807 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td></tr>
<tr style="font-size: 1pt;" valign="bottom"><td> </td>
<td> </td>
<td style="border-top: #000000 3px double;"> </td>
<td style="border-top: #000000 3px double;"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 3px double;"> </td>
<td style="border-top: #000000 3px double;"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 3px double;"> </td>
<td style="border-top: #000000 3px double;"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 3px double;"> </td>
<td style="border-top: #000000 3px double;"> </td>
<td> </td></tr></table></div> We estimated the fair values of our senior notes using quoted market prices in a broker dealer market and the fair values of our convertible notes using quoted prices in a traded exchange market, which may be adjusted for certain factors such as historical trading levels and market data for our senior notes, credit default spreads, stock volatility assumptions with respect to our convertible notes and other corroborating market or internally generated data. Because our fair value measurements include assumptions based on market data, corroborating market data and some broker internally generated information, we consider these estimates Level 2 in the fair value hierarchy. </div>
<div style="margin-top: 6pt; font-size: 10pt;" align="left"> We estimated the fair values of our syndicated loan facilities using primarily Level 3 inputs such as U.S. Treasury yield curves, prices of comparable bonds, LIBOR and zero-coupon yield curves, U.S. treasury bond rates and credit spreads on comparable publicly traded bonds. </div>
<div style="margin-top: 6pt; font-size: 10pt;" align="left"> Other debt consists primarily of Brazilian credit paper and import financing agreements. We estimated the fair value of the Brazilian credit paper utilizing primarily Level 3 inputs such as U.S. treasury security yield curves, prices of comparable bonds, LIBOR and zero-coupon yield curves, Treasury bond rates and credit spreads on comparable publicly traded bonds. We believe that the fair value of our short-term, import financing agreements approximate their carrying value primarily because of the short maturities of the agreements prior to realization and consider these measurements to be Level 3 in the fair value hierarchy. </div></div></div></div></div> </div>Note 2. Fair Value Measurements
The following tables set forth the classification within the fair value hierarchy of ourfalsefalsefalsefalsefalse | Otherus-types:textBlockItemTypestringThis item represents the complete disclosure regarding the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the Company is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risk is are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
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