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Supplemental Disclosures

6 Months Ended

Jun. 30, 2012

NOTE 4 – SUPPLEMENTAL DISCLOSURES

Income tax benefit (expense)

The Company's income tax benefit (expense) for the three and six months ended June 30, 2012 and 2011, respectively, consisted of the following components:

(In thousands)		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2012		2011		2012		2011
Current tax expense	$	(16,785)	$	(19,291)	$	(16,972)	$	(16,430)
Deferred tax benefit (expense)		8,703		(3,069)		24,184		16,425
Income tax benefit (expense)	$	(8,082)	$	(22,360)	$	7,212	$	(5)

The effective tax rate is the provision for income taxes as a percent of income before income taxes. The effective tax rates for the three and six months ended June 30, 2012 were 92.5% and 13.9%, respectively, and were primarily impacted by tax losses in certain foreign jurisdictions due to the uncertainty of the ability to utilize those losses in future periods.

The effective tax rate for the three and six months ended June 30, 2011 was 39.5% and 0%, respectively. The 2011 effective tax rate was primarily impacted by the Company's settlement of U.S. federal and state tax examinations. Pursuant to the settlements, the Company recorded a reduction to income tax expense of approximately $3.7 million to reflect the net tax benefits of the settlements. In addition, the effective rate for the six months ended June 30, 2011 was impacted by the Company's ability to benefit from certain tax loss carry forwards in foreign jurisdictions due to increased taxable income during 2011, where the losses previously did not provide a benefit.

During the six months ended June 30, 2012 and 2011, cash paid for interest and income taxes, net of income tax refunds of $0.6 million and $0.7 million, respectively, was as follows:

(In thousands)		Six Months Ended June 30,
		2012		2011
Interest	$	166,280	$	117,770
Income taxes		34,279		20,049