2.2.0.25falsefalse10301 - Disclosure - Debttruefalsefalse1falsefalseUSDfalsefalse1/1/2011 - 3/31/2011
USD ($)
USD ($) / shares
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<div style="font-family: 'Times New Roman',Times,serif;">
<div style="margin-top: 12pt; font-size: 10pt;" align="left">
<div>
<div style="font-family: 'Times New Roman',Times,serif;">
<div style="margin-top: 6pt; font-size: 10pt;" align="left">
<div style="width: 87%; margin-left: 6%;">
<table style="font-family: Arial, Helvetica; background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr valign="top"><td><b><font style="font-family: 'Times New Roman', Times;" class="_mt">Note 3. </font></b> <strong><font class="_mt" style="font-family: Times New Roman;">Debt</font></strong></td>
<td> </td></tr></table>
<div style="margin-top: 6pt; font-size: 1pt;"> </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="74%"> </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="9%" 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 valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>March 31,<br /></b></td>
<td> </td>
<td> </td>
<td valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>December 31,<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>2011</b> </td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" valign="bottom" colspan="2" nowrap="nowrap" align="center"><b>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="6" 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" align="left">
<div style="text-indent: -10pt; margin-left: 10pt;"><b>Senior notes, net</b> </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">1,279,524 </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: 10pt;"><b>Convertible notes, net</b> </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">1,043,236 </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;"><b>Syndicated loan facilities</b> </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">458,964 </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: 10pt;"><b>Tower financing obligations</b> </div></td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right">178,742 </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">175,932 </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;"><b>Capital lease obligations</b> </div></td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right">118,842 </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">114,303 </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: 10pt;"><b>Brazil import financing</b> </div></td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right">154,753 </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">128,094 </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td></tr>
<tr style="background: #cceeff;" valign="bottom"><td valign="bottom" nowrap="nowrap" align="left">
<div style="text-indent: -10pt; margin-left: 10pt;"><b>Other</b> </div></td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right">100,455 </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">65,365 </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></tr>
<tr valign="bottom"><td valign="bottom" nowrap="nowrap" align="left">
<div style="text-indent: -10pt; margin-left: 10pt;">Total debt </div></td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right">4,068,474 </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">3,265,418 </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;">Less: current portion </div></td>
<td> </td>
<td valign="bottom" nowrap="nowrap" align="left"> </td>
<td valign="bottom" nowrap="nowrap" align="right">(491,975 </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">(446,995 </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></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">3,576,499 </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">2,818,423 </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></tr></table></div> <b><i>7.625% Senior Notes due 2021. </i></b>In March 2011, we issued $<font class="_mt">750.0</font> million aggregate principal amount of senior notes for which we received about $<font class="_mt">735.8</font> million in cash proceeds, after deducting underwriting fees, commissions and offering expenses. We will amortize the $<font class="_mt">14.2</font> million we incurred in underwriting discounts and offering expenses into interest expense over the ten-year term of the notes. The notes are senior unsecured obligations of NII Capital Corp., a domestic subsidiary that we wholly own, and are guaranteed by us and by certain of our other domestic wholly-owned subsidiaries. These guarantees are full and unconditional, as well as joint and several. Subject to certain exceptions, the notes are equal in right of payment with any future unsecured, unsubordinated indebtedness of NII Capital Corp. and of the guarantors of the notes, including, but not limited to, with respect to NII Holdings' guarantee, NII Capital Corp.'s <font class="_mt">10.0</font>% senior notes due <font class="_mt">2016</font>, NII Capital Corp.'s <font class="_mt">8.875</font>% senior notes due <font class="_mt">2019</font> and NII Holdings' <font class="_mt">3.125</font>% convertible notes due <font class="_mt">2012</font>. The notes are effectively subordinated to all NII Capital Corp.'s existing and future secured indebtedness, as well as to all existing and future indebtedness of our subsidiaries that are not guarantors of the notes, including the foreign subsidiaries that operate in each of our markets. The notes bear interest at a rate of <font class="_mt">7.625</font>% per year, which is payable semi-annually in arrears on April 1 and October 1, beginning on October 1, 2011 and will mature on <font class="_mt">April 1, 2021</font>. </div>
<div style="margin-top: 6pt; font-size: 10pt;" align="left"> The notes are not entitled to any mandatory redemption or sinking fund. Prior to April 1, 2014, up to <font class="_mt">35</font>% of the aggregate principal amount of the notes may be redeemed with the net cash proceeds from specified equity offerings at a redemption price of <font class="_mt">107.625</font>% of their principal amount, plus accrued and unpaid interest. Such redemption may only be made if, after the redemption, at least <font class="_mt">65</font>% of the aggregate principal amount of the notes issued remains outstanding. In addition, prior to April 1, 2016, NII Capital Corp. may redeem the notes, in whole or in part, at a redemption price equal to <font class="_mt">100</font>% of the principal amount thereof plus a "make-whole" premium and accrued and unpaid interest. At any time on or after April 1, 2016 and prior to maturity, the notes will be redeemable, in whole or in part, at the redemption prices presented below (expressed as percentages of principal amount), plus accrued and unpaid interest to the redemption date if redeemed during the 12-month period beginning on April 1 of the applicable year: </div>
<div align="center">
<table style="font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr valign="bottom"><td width="88%"> </td>
<td width="5%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td></tr>
<tr style="font-size: 8pt;" valign="bottom"><td> </td>
<td> </td>
<td colspan="3" nowrap="nowrap" align="center"><b>Redemption</b></td></tr>
<tr style="font-size: 8pt;" valign="bottom"><td style="border-bottom: #000000 1px solid;" nowrap="nowrap" align="left"><b>Year</b></td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="3" nowrap="nowrap" align="center"><b>Price</b></td></tr>
<tr style="background: #cceeff;" valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">2016</div></td>
<td> </td>
<td nowrap="nowrap" align="right"> </td>
<td align="right">103.813</td>
<td nowrap="nowrap">%</td></tr>
<tr valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">2017</div></td>
<td> </td>
<td nowrap="nowrap" align="right"> </td>
<td align="right">102.541</td>
<td nowrap="nowrap">%</td></tr>
<tr style="background: #cceeff;" valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">2018</div></td>
<td> </td>
<td nowrap="nowrap" align="right"> </td>
<td align="right">101.271</td>
<td nowrap="nowrap">%</td></tr>
<tr valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">2019 and thereafter</div></td>
<td> </td>
<td nowrap="nowrap" align="right"> </td>
<td align="right">100.000</td>
<td nowrap="nowrap">%</td></tr></table></div>
<div style="margin-top: 6pt; font-size: 10pt;" align="left"> Upon the occurrence of specified events involving a change of control, holders of the notes may require us to purchase their notes at a purchase price equal to <font class="_mt">101</font>% of the principal amount of the notes, plus accrued and unpaid interest. </div>
<div style="margin-top: 6pt; font-size: 10pt;" align="left"> The indenture governing the notes, among other things, limits our ability and the ability of some of our subsidiaries to: </div>
<div style="margin-top: 6pt;">
<table style="font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr style="background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 10pt;" valign="top"><td style="background: none transparent scroll repeat 0% 0%;" width="2%"> </td>
<td width="3%" nowrap="nowrap" align="left"><b>•</b></td>
<td width="1%"> </td>
<td>incur additional indebtedness and issue preferred stock;</td></tr>
<tr><td style="font-size: 6pt;"> </td></tr>
<tr style="background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 10pt;" valign="top"><td style="background: none transparent scroll repeat 0% 0%;" width="2%"> </td>
<td width="3%" nowrap="nowrap" align="left"><b>•</b></td>
<td width="1%"> </td>
<td>create liens or other encumbrances;</td></tr>
<tr><td style="font-size: 6pt;"> </td></tr>
<tr style="background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 10pt;" valign="top"><td style="background: none transparent scroll repeat 0% 0%;" width="2%"> </td>
<td width="3%" nowrap="nowrap" align="left"><b>•</b></td>
<td width="1%"> </td>
<td>place limitations on distributions from some of our subsidiaries;</td></tr></table></div></div>
<div style="font-family: 'Times New Roman',Times,serif;">
<div style="margin-top: 6pt;">
<table style="font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr style="background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 10pt;" valign="top"><td style="background: none transparent scroll repeat 0% 0%;" width="2%"> </td>
<td width="3%" nowrap="nowrap" align="left"><b>•</b></td>
<td width="1%"> </td>
<td>pay dividends, acquire shares of our capital stock or make investments;</td></tr>
<tr><td style="font-size: 6pt;"> </td></tr>
<tr style="background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 10pt;" valign="top"><td style="background: none transparent scroll repeat 0% 0%;" width="2%"> </td>
<td width="3%" nowrap="nowrap" align="left"><b>•</b></td>
<td width="1%"> </td>
<td>prepay subordinated indebtedness or make other restricted payments;</td></tr>
<tr><td style="font-size: 6pt;"> </td></tr>
<tr style="background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 10pt;" valign="top"><td style="background: none transparent scroll repeat 0% 0%;" width="2%"> </td>
<td width="3%" nowrap="nowrap" align="left"><b>•</b></td>
<td width="1%"> </td>
<td>issue or sell capital stock of some of our subsidiaries;</td></tr>
<tr><td style="font-size: 6pt;"> </td></tr>
<tr style="background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 10pt;" valign="top"><td style="background: none transparent scroll repeat 0% 0%;" width="2%"> </td>
<td width="3%" nowrap="nowrap" align="left"><b>•</b></td>
<td width="1%"> </td>
<td>issue guarantees;</td></tr>
<tr><td style="font-size: 6pt;"> </td></tr>
<tr style="background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 10pt;" valign="top"><td style="background: none transparent scroll repeat 0% 0%;" width="2%"> </td>
<td width="3%" nowrap="nowrap" align="left"><b>•</b></td>
<td width="1%"> </td>
<td>sell or exchange assets;</td></tr>
<tr><td style="font-size: 6pt;"> </td></tr>
<tr style="background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 10pt;" valign="top"><td style="background: none transparent scroll repeat 0% 0%;" width="2%"> </td>
<td width="3%" nowrap="nowrap" align="left"><b>•</b></td>
<td width="1%"> </td>
<td>enter into transactions with affiliates; and</td></tr>
<tr><td style="font-size: 6pt;"> </td></tr>
<tr style="background: none transparent scroll repeat 0% 0%; color: #000000; font-size: 10pt;" valign="top"><td style="background: none transparent scroll repeat 0% 0%;" width="2%"> </td>
<td width="3%" nowrap="nowrap" align="left"><b>•</b></td>
<td width="1%"> </td>
<td>merge or consolidate with another entity.</td></tr></table></div>
<div style="margin-top: 6pt; font-size: 10pt;" align="left"> These covenants are subject to a number of qualifications and exceptions and are substantially similar to the covenants contained in the indentures governing NII Capital Corp.'s 10.0% senior notes due 2016 and 8.875% senior notes due 2019. </div>
<div style="margin-top: 6pt; margin-left: 1%; font-size: 10pt;" align="left"><b><i>Convertible Notes.</i></b> </div>
<div style="margin-top: 6pt; font-size: 10pt;" align="left"> <b><i>3.125% Convertible Notes. </i></b>If certain events occur, the <font class="_mt">3.125</font>% notes will be convertible into shares of our common stock at a conversion rate of <font class="_mt">8.4517</font> shares per $<font class="_mt">1,000</font> principal amount of notes, or <font class="_mt">9,296,870</font> aggregate common shares, representing a conversion price of about $<font class="_mt">118.32</font> per share. For the fiscal quarter ended March 31, 2011, the closing sale price of our common stock did not exceed <font class="_mt">120</font>% of the conversion price of $<font class="_mt">118.32</font> per share for at least 20 trading days in the 30 consecutive trading days ending on March 31, 2011. As a result, the conversion contingency was not met as of March 31, 2011. </div>
<div style="margin-top: 6pt; font-size: 10pt;" align="left"> <b><i>Adoption of Authoritative Guidance on Convertible Debt Instruments. </i></b>As a result of adopting the FASB's authoritative guidance on convertible debt instruments on January 1, 2009, we were required to separately account for the debt and equity components of our 3.125% convertible notes in a manner that reflects our nonconvertible debt (unsecured debt) borrowing rate. The debt and equity components recognized for our 3.125% convertible notes were as follows (in thousands): </div>
<div align="center">
<table style="font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr valign="bottom"><td width="76%"> </td>
<td width="5%"> </td>
<td width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td>
<td width="5%"> </td>
<td style="width: 55px;" width="3%"> </td>
<td width="1%"> </td>
<td width="3%"> </td></tr>
<tr style="font-size: 8pt;" valign="bottom"><td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="3" nowrap="nowrap" align="center"><b>March 31, 2011</b></td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="3" nowrap="nowrap" align="center"><b>December 31, 2010</b></td></tr>
<tr style="font-size: 8pt;" valign="bottom"><td> </td>
<td> </td>
<td colspan="3" nowrap="nowrap" align="center"><b>3.125% Notes</b></td>
<td> </td>
<td colspan="3" nowrap="nowrap" align="center"><b>3.125% Notes</b></td></tr>
<tr style="font-size: 8pt;" valign="bottom"><td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="3" nowrap="nowrap" align="center"><b>due 2012</b></td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="3" nowrap="nowrap" align="center"><b>due 2012</b></td></tr>
<tr style="background: #cceeff;" valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Principal amount of convertible notes</div></td>
<td> </td>
<td align="left">
<p align="right">$</p></td>
<td colspan="2" align="right">1,100,000</td>
<td> </td>
<td align="left">
<p align="right">$</p></td>
<td colspan="2" align="right">1,100,000</td></tr>
<tr valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Unamortized discount on convertible notes</div></td>
<td> </td>
<td> </td>
<td colspan="2" align="right">47,091</td>
<td> </td>
<td> </td>
<td colspan="2" align="right">56,764</td></tr>
<tr style="background: #cceeff;" valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Net carrying amount of convertible notes</div></td>
<td> </td>
<td> </td>
<td colspan="2" align="right">1,052,909</td>
<td> </td>
<td> </td>
<td colspan="2" align="right">1,043,236</td></tr>
<tr valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Carrying amount of equity component</div></td>
<td> </td>
<td> </td>
<td colspan="2" align="right">193,941</td>
<td> </td>
<td> </td>
<td colspan="2" align="right">193,941</td></tr></table></div>
<div style="margin-top: 6pt; font-size: 10pt;" align="left"> As of March 31, 2011, the unamortized discount on our 3.125% convertible notes had a remaining recognition period of about 14 months. </div>
<div style="margin-top: 6pt; font-size: 10pt;" align="left"> The amount of interest expense recognized on our 3.125% convertible notes and our <font class="_mt">2.75</font>% convertible notes and effective interest rates for the three months ended March 31, 2011 and 2010 were as follows (dollars in thousands): </div>
<div align="center">
<table style="font-size: 10pt;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tr valign="bottom"><td width="64%"> </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 style="border-bottom: #000000 1px solid;" colspan="10" nowrap="nowrap" align="center"><b>Three Months Ended March 31,</b></td>
<td> </td></tr>
<tr style="font-size: 8pt;" valign="bottom"><td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>2011</b></td>
<td style="border-bottom: #000000 1px solid;"> </td>
<td style="border-bottom: #000000 1px solid;"> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>2010</b></td>
<td style="border-bottom: #000000 1px solid;"> </td>
<td style="border-bottom: #000000 1px solid;"> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"> </td>
<td> </td></tr>
<tr style="font-size: 8pt;" valign="bottom"><td> </td>
<td> </td>
<td colspan="2" nowrap="nowrap" align="center"><b>3.125% Notes</b></td>
<td> </td>
<td> </td>
<td colspan="2" nowrap="nowrap" align="center"><b>3.125% Notes</b></td>
<td> </td>
<td> </td>
<td colspan="2" nowrap="nowrap" align="center"><b>2.75% Notes</b></td>
<td> </td></tr>
<tr style="font-size: 8pt;" valign="bottom"><td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>due 2012</b></td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>due <font class="_mt">2012</font></b></td>
<td> </td>
<td> </td>
<td style="border-bottom: #000000 1px solid;" colspan="2" nowrap="nowrap" align="center"><b>due <font class="_mt">2025</font></b></td>
<td> </td></tr>
<tr style="background: #cceeff;" valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Contractual coupon interest</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">8,594</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">9,375</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">2,406</td>
<td> </td></tr>
<tr valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Amortization of discount on convertible notes</div></td>
<td> </td>
<td> </td>
<td align="right">9,674</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">9,849</td>
<td> </td>
<td> </td>
<td> </td>
<td align="right">3,013</td>
<td> </td></tr>
<tr style="font-size: 1px;"><td>
<div style="text-indent: -15px; margin-left: 15px;"> </div></td>
<td> </td>
<td style="border-top: #000000 1px solid;" colspan="2" nowrap="nowrap" align="right"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;" colspan="2" nowrap="nowrap" align="right"> </td>
<td> </td>
<td> </td>
<td style="border-top: #000000 1px solid;" colspan="2" nowrap="nowrap" align="right"> </td>
<td> </td></tr>
<tr style="background: #cceeff;" valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Interest expense, net</div></td>
<td> </td>
<td align="left">$</td>
<td align="right">18,268</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">19,224</td>
<td> </td>
<td> </td>
<td align="left">$</td>
<td align="right">5,419</td>
<td> </td></tr>
<tr style="font-size: 1px;"><td>
<div style="text-indent: -15px; margin-left: 15px;"> </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></tr>
<tr valign="bottom"><td>
<div style="text-indent: -15px; margin-left: 15px;">Effective interest rate on convertible notes</div></td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">7.15</td>
<td nowrap="nowrap">%</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">7.15</td>
<td nowrap="nowrap">%</td>
<td> </td>
<td nowrap="nowrap" align="left"> </td>
<td align="right">6.45</td>
<td nowrap="nowrap">%</td></tr>
<tr style="font-size: 1px;"><td>
<div style="text-indent: -15px; margin-left: 15px;"> </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></tr></table></div></div></div></div></div> </div>Note 3. Debt
March 31,
falsefalsefalsefalsefalse | Otherus-types:textBlockItemTypestringInformation about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 19, 20, 22
-Article 5
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 129
-Paragraph 2, 4
falsefalse
12DebtUnKnownUnKnownUnKnownUnKnownfalsetrue