2.2.0.25falsefalse10801 - Disclosure - Senior Unsecured Notestruefalsefalse1falsefalseUSDfalsefalse1/1/2010 - 12/31/2010
USD ($)
USD ($) / shares
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<table style="font-family: Times New Roman; font-size: 10pt;" cellspacing="0" cellpadding="0" width="100%">
<tr valign="top"><td style="width: 18pt;" align="right">
<div><font style="display: inline; font-family: Times New Roman; font-size: 10pt; font-weight: bold;" class="_mt">8. </font></div></td>
<td>
<div style="text-indent: 0pt; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt; font-weight: bold;" class="_mt"><font style="display: inline; text-decoration: underline;" class="_mt">SENIOR UNSECURED NOTES</font></font></div></td></tr></table></div>
<div style="text-indent: 0pt; display: block;"><br /></div>
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="justify"><font style="display: inline; font-family: Times New Roman; font-size: 10pt;" class="_mt">A summary of the Company's senior unsecured notes as of December 31, 2010 and 2009 is as follows: <font style="font-style: italic; display: inline;" class="_mt">(dollars in thousands)</font></font></div>
<div style="text-indent: 0pt; display: block;"><br /></div>
<div>
<table style="font-family: Times New Roman; font-size: 10pt;" cellspacing="0" cellpadding="0" width="100%">
<tr><td valign="top" width="43%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt"> </font></td>
<td valign="top" width="13%" align="right">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 2.1pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">December 31,</font></div></td>
<td valign="top" width="12%" align="right">
<div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">December 31,</font></div></td>
<td valign="top" width="11%" align="right">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 3.6pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Effective</font></div></td></tr>
<tr><td style="border-bottom: black 2px solid;" valign="top" width="43%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt"> </font></td>
<td style="border-bottom: black 2px solid;" valign="top" width="13%" align="right">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 2.1pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">2010</font></div></td>
<td style="border-bottom: black 2px solid;" valign="top" width="12%" align="right">
<div><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">2009</font></div></td>
<td style="border-bottom: black 2px solid;" valign="top" width="11%" align="right">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 3.6pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Rate (1)</font></div></td></tr>
<tr><td valign="top" width="43%" align="left">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">5.050% Senior Unsecured Notes, due April 15, 2010 (2)</font></div></td>
<td valign="top" width="13%" align="right">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 3.6pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td>
<td style="text-align: right;" valign="top" width="12%">
<div style="text-align: right; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt"><font style="margin-left: 12.6pt;" class="_mt"> </font>$149,984</font></div></td>
<td valign="top" width="11%" align="right">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 3.6pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">5.265%</font></div></td></tr>
<tr><td valign="top" width="43%" align="left">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">7.835% Senior Unsecured Notes, due December 15, 2010 (2)</font></div></td>
<td valign="top" width="13%" align="right">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 3.6pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td>
<td valign="top" width="12%" align="right">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 2.1pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">15,000</font></div></td>
<td valign="top" width="11%" align="right">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 3.6pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">7.950%</font></div></td></tr>
<tr><td valign="top" width="43%" align="left">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">7.750% Senior Unsecured Notes, due February 15, 2011 (3)</font></div></td>
<td valign="top" width="13%" align="right">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 3.6pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">--</font></div></td>
<td style="text-align: right;" valign="top" width="12%">
<div style="text-align: right; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">299,814</font></div></td>
<td valign="top" width="11%" align="right">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 3.6pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">7.930%</font></div></td></tr>
<tr><td valign="top" width="43%" align="left">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">5.250% Senior Unsecured Notes, due January 15, 2012</font></div></td>
<td valign="top" width="13%" align="right">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 3.6pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$ 99,793</font></div></td>
<td style="text-align: right;" valign="top" width="12%">
<div style="text-align: right; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">99,599</font></div></td>
<td valign="top" width="11%" align="right">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 3.6pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">5.457%</font></div></td></tr>
<tr><td valign="top" width="43%" align="left">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">6.150% Senior Unsecured Notes, due December 15, 2012</font></div></td>
<td valign="top" width="13%" align="right">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 3.6pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">93,946</font></div></td>
<td style="text-align: right;" valign="top" width="12%">
<div style="text-align: right; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">93,455</font></div></td>
<td valign="top" width="11%" align="right">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 3.6pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">6.894%</font></div></td></tr>
<tr><td valign="top" width="43%" align="left">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">5.820% Senior Unsecured Notes, due March 15, 2013</font></div></td>
<td valign="top" width="13%" align="right">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 3.6pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">25,861</font></div></td>
<td style="text-align: right;" valign="top" width="12%">
<div style="text-align: right; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">25,751</font></div></td>
<td valign="top" width="11%" align="right">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 3.6pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">6.448%</font></div></td></tr>
<tr><td valign="top" width="43%" align="left">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">4.600% Senior Unsecured Notes, due June 15, 2013</font></div></td>
<td valign="top" width="13%" align="right">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 3.6pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">99,930</font></div></td>
<td style="text-align: right;" valign="top" width="12%">
<div style="text-align: right; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">99,901</font></div></td>
<td valign="top" width="11%" align="right">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 3.6pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">4.742%</font></div></td></tr>
<tr><td valign="top" width="43%" align="left">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">5.125% Senior Unsecured Notes, due February 15, 2014</font></div></td>
<td valign="top" width="13%" align="right">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 3.6pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">200,749</font></div></td>
<td style="text-align: right;" valign="top" width="12%">
<div style="text-align: right; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">200,989</font></div></td>
<td valign="top" width="11%" align="right">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 3.6pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">5.110%</font></div></td></tr>
<tr><td valign="top" width="43%" align="left">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">5.125% Senior Unsecured Notes, due January 15, 2015</font></div></td>
<td valign="top" width="13%" align="right">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 3.6pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">149,625</font></div></td>
<td style="text-align: right;" valign="top" width="12%">
<div style="text-align: right; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">149,533</font></div></td>
<td valign="top" width="11%" align="right">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 3.6pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">5.297%</font></div></td></tr>
<tr><td valign="top" width="43%" align="left">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">5.800% Senior Unsecured Notes, due January 15, 2016</font></div></td>
<td valign="top" width="13%" align="right">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 3.6pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">200,389</font></div></td>
<td style="text-align: right;" valign="top" width="12%">
<div style="text-align: right; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">200,464</font></div></td>
<td valign="top" width="11%" align="right">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 3.6pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">5.806%</font></div></td></tr>
<tr><td style="border-bottom: black 2px solid;" valign="top" width="43%" align="left">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">7.750% Senior Unsecured Notes, due August 15, 2019</font></div></td>
<td style="border-bottom: black 2px solid;" valign="top" width="13%" align="right">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 3.6pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">248,158</font></div></td>
<td style="border-bottom: black 2px solid; text-align: right;" valign="top" width="12%">
<div style="text-align: right; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">247,944</font></div></td>
<td style="border-bottom: black 2px solid;" valign="top" width="11%" align="right">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 3.6pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">8.017%</font></div></td></tr>
<tr><td valign="top" width="43%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt"> </font></td>
<td valign="top" width="13%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt"> </font></td>
<td valign="top" width="12%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt"> </font></td>
<td valign="top" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt"> </font></td></tr>
<tr><td style="border-bottom: black 3px double;" valign="top" width="43%" align="left">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">Total Senior Unsecured Notes</font></div></td>
<td style="border-bottom: black 3px double;" valign="top" width="13%" align="right">
<div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 2.1pt;" align="right"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$1,118,451</font></div></td>
<td style="border-bottom: black 3px double; text-align: right;" valign="top" width="12%">
<div style="text-align: right; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">$1,582,434</font></div></td>
<td style="border-bottom: black 3px double;" valign="top" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt"> </font></td></tr>
<tr><td valign="top" width="43%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt"> </font></td>
<td valign="top" width="13%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt"> </font></td>
<td valign="top" width="12%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt"> </font></td>
<td valign="top" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt"> </font></td></tr>
<tr><td valign="top" width="79%" colspan="4" align="left">
<div style="text-indent: -18pt; display: block; margin-left: 18pt; margin-right: 3.6pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(1) Includes the cost of terminated treasury lock agreements (if any), offering and other transaction costs and the discount/premium on the notes, as applicable.</font></div></td></tr>
<tr><td valign="top" width="79%" colspan="4" align="left">
<div style="text-indent: -18pt; display: block; margin-left: 18pt; margin-right: 3.6pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(2) These notes were paid at maturity.</font></div></td></tr>
<tr><td valign="top" width="79%" colspan="4" align="left">
<div style="text-indent: -18pt; display: block; margin-left: 18pt; margin-right: 3.6pt;" align="left"><font style="display: inline; font-family: times new roman; font-size: 10pt;" class="_mt">(3) On December 15, 2010, the Company redeemed $300 million principal amount of its 7.75 percent senior unsecured notes due February 15, 2011. The redemption price, including a make-whole premium, was 101.225 percent of the principal amount of the notes, plus accrued and unpaid interest up to the redemption date. The Company funded the redemption price, including accrued and unpaid interest, of approximately $311.4 million from borrowing on its unsecured revolving credit facility, as well as cash on hand. In connection with the redemption, the Company recorded approximately $3.8 million as a loss from early extinguishment of debt.</font></div></td></tr></table></div></div> </div>8.
SENIOR UNSECURED NOTES
A summary of the Company's senior unsecured notes as of December 31, 2010 and 2009 is asfalsefalsefalsefalsefalse | Otherus-types:textBlockItemTypestringSENIOR UNSECURED NOTES [Text Block]No authoritative reference available.falsefalse
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