Borrowings (Tables)

6 Months Ended

Jun. 30, 2011

Borrowings [Abstract]

Composition of outstanding borrowings

	June 30,		December 31,
	2011		2010
	($ in thousands)
Credit facilities	$	—	$	67,508
Term debt(1)		697,910		979,254
Other borrowings:
Convertible debt, net(2)		528,909		523,650
Subordinated debt		440,168		437,286
FHLB SF borrowings		480,000		412,000
Notes payable		2,906		2,948
Total other borrowings		1,451,983		1,375,884
Total borrowings	$	2,149,893	$	2,422,646

Carrying amounts of the liability and equity components of our convertible debt

	June 30,			December 31,
	2011			2010
	($ in thousands)
Convertible debt principal	$	530,523		$	530,523
Less: debt discount		(1,614	)		(6,873	)
Net carrying value	$	528,909		$	523,650
Equity components recorded in additional paid-in capital	$	101,220		$	101,220

Conversion prices and numbers of shares used to determine aggregate consideration upon conversion of convertible debt

	Conversion Price		Number of Shares
3.5% Senior Convertible Debentures due 2034	$	20.74		407,224
4.0% Senior Subordinated Convertible Debentures due 2034		20.74		13,118,193
7.25% Senior Subordinated Convertible Debentures due 2037		27.09		9,226,975

Interest expense recognized on Convertible Debentures and effective interest rates on the liability components

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2011			2010			2011			2010
	($ in thousands)
Interest expense recognized on:
Contractual interest coupon	$	4,884		$	7,586		$	12,261		$	15,254
Amortization of deferred financing fees		203			357			503			730
Amortization of debt discount		1,764			2,644			4,368			5,275
Total interest expense recognized	$	6,851		$	10,587		$	17,132		$	21,259
Effective interest rate on the liability component:
3.5% Senior Convertible Debentures due 2034		7.16	%		7.16	%		7.16	%		7.16	%
4.0% Senior Subordinated Convertible Debentures due 2034		7.85	%		7.68	%		7.85	%		7.68	%
7.25% Senior Subordinated Convertible Debentures due 2037		7.79	%		7.79	%		7.79	%		7.79	%

Borrowing capacity of CapitalSource Bank with FHLB SF based on pledged collateral

	June 30,			December 31,
	2011			2010
	($ in thousands)
Borrowing capacity	$	962,818		$	885,842
Less: outstanding principal		(480,000	)		(412,000	)
Less: outstanding letters of credit		(600	)		(600	)
Unused borrowing capacity	$	482,218		$	473,242