Debt (Notes)

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Debt

The following table summarizes the Company’s debt (in thousands):

	December 31,
	2014			2013
Revolving loans	$	—		$	—
Senior term loan, due 2017	—			398,438
Senior term loan, due 2019	395,000			—
7.75% senior subordinated notes, due 2020	—			400,000
4.75% senior notes, due 2022	400,000			—
5.00% senior notes, due 2024	300,000			—
3.75% convertible senior subordinated notes, due 2025	79,972			132,408
3.75% convertible senior subordinated notes, due 2042	—			390,000
3.50% convertible senior subordinated notes, due 2044	424,250			424,250
4.00% junior subordinated convertible debentures, due 2033	306,683			307,153
3.25% convertible senior debentures, due 2035	186,033			427,500
3.25% convertible senior exchange debentures, due 2035	241,467			—
Capitalized lease and other debt obligations	13,083			20,685
Subtotal	2,346,488			2,500,434
Add interest rate swap agreements	—			18,671
(Subtract) unamortized debt discount	(382,212		)	(573,082		)
(Subtract) current portion of debt	(446,717		)	(527,204		)
Total long-term debt, net	$	1,517,559		$	1,418,819

The following is a schedule of the Company’s required debt payments, excluding any unamortized debt discount, due during each of the next five years and thereafter, as of December 31, 2014 (in thousands):

Year ended
December 31,
2015 (1)	$	598,423
2016	24,680
2017	22,470
2018	20,198
2019	315,000
Later years	1,365,717
Total debt payments	$	2,346,488

(1) As of December 31, 2014, approximately $387 million in aggregate principal amount of Convertible Notes was convertible, including the 3.75% Convertible Senior Subordinated Notes due 2025 (the “2025 Notes”) and the 4.00% Junior Subordinated Convertible Debentures due 2033 (the “2033 Debentures”). Additionally, holders of approximately $186 million aggregate principle amount of 3.25% Convertible Senior Debentures due 2035 (the “Initial 2035 Debentures”) have the right to require the Company to repurchase their Initial 2035 Debentures on December 15, 2015. As a result, the 2025 Notes, the 2033 Debentures and the Initial 2035 Debentures are classified as current debt as of December 31, 2014.

For the years ended December 31, 2014, 2013 and 2012, total cash interest payments, excluding any make-whole or premium payments in connection with redemptions or repayments, were $90 million, $88 million and $91 million, respectively. As of December 31, 2014, the Company had approximately $14 million of standby letters of credit, substantially all of which are subject to automatic annual renewals.

Senior Credit Agreement

Revolving Loans and Term Loans

During the fourth quarter of 2014, the Company amended and extended its existing senior unsecured credit agreement (the “Credit Facility” and as amended, the “Amended Credit Facility”). The Amended Credit Facility consists of a $300 million five-year senior unsecured revolving credit facility (the “Revolving Credit Facility”) and a $400 million, five-year senior unsecured term loan facility (the “Term Loan”). The 2014 amendment, among other things, (i) extended the maturity date to November 13, 2019, (ii) reduced pricing, (iii) increased the Term Loan borrowings from $383 million to $400 million and (iv) changed certain restrictive and financial covenants. Under the Amended Credit Facility, $20 million of the principal amount of the term loan will be repaid each year, with the balance due at maturity. The Amended Credit Facility is guaranteed by substantially all of the Company’s subsidiaries. The interest rate applicable to the Amended Credit Facility is, at the Company’s option, a floating base rate plus an applicable margin or the London interbank offered rate (“LIBOR”) plus an applicable margin. Initially, the applicable margins were set to 0.75% with respect to the floating base rate loans and 1.75% with respect to the LIBOR loans. The applicable margins for the Amended Credit Facility may increase or decrease based on the Company’s consolidated total leverage ratio as specified in the Amended Credit Facility. The interest rate on the Term Loan was 1.96% at December 31, 2014.

In connection with the 2014 amendment, the Company recorded $4 million in deferred debt issuance costs, of which an immaterial amount was amortized to interest expense in the year ended December 31, 2014. In connection with the 2014 amendment, the Company wrote off approximately $1 million of deferred debt issuance costs, which was recorded in interest expense in the fourth quarter of 2014. Approximately $1 million, $1 million and $0.3 million of these deferred debt issuance costs were amortized to interest expense in the years ended December 31, 2014, 2013 and 2012, respectively.

The Amended Credit Facility contains financial covenants requiring maintenance of certain interest coverage and leverage ratios, and customary affirmative and negative covenants, including, without limitation, a restriction on the payment of dividends.

At December 31, 2014, there were no outstanding borrowings under the Revolving Credit Facility and $395 million outstanding under the Term Loan.

In 2012, in connection with the termination of its prior Credit Agreement, the Company wrote off approximately $8 million of deferred debt issuance costs, which was recorded in interest expense in the third quarter of 2012.

Senior Subordinated Notes due 2020

In the fourth quarter of 2014, the Company redeemed all $400 million aggregate principal amount of its 2020 Notes then outstanding for an aggregate redemption price of $429 million. The Company recognized a net loss on the transaction of approximately $29 million in the fourth quarter of 2014, which was included in “Other charges” on the Consolidated Statements of Comprehensive Income (Loss). In connection with the redemption, the Company wrote off the remaining deferred debt issuance costs of $5 million, which was recorded in interest expense in the fourth quarter of 2014.

In the third quarter of 2013, Omnicare entered into separate, privately negotiated purchase agreements to repurchase approximately $150 million in aggregate principal amount of its 2020 Notes. The Company recognized a net loss on the repurchase transactions of approximately $19 million in the third quarter of 2013 which was included in “Other charges” on the Consolidated Statements of Comprehensive Income (Loss). In connection with the 2013 repurchase, the Company wrote off $2 million of deferred debt issuance costs, which was recorded in interest expense in the third quarter of 2013.

In connection with the issuance of the 2020 Notes, the Company deferred approximately $13 million in debt issuance costs, of which approximately $1 million was amortized to expense in each of the years ended December 31, 2014, 2013 and 2012, respectively. 

In connection with the initial issuance of 2020 Notes, the Company entered into an interest rate swap agreement (the “Initial Swap Agreement”) and in connection with a subsequent issuance of 2020 Notes, the Company entered into two interest rate swap agreements (the “Additional Swap Agreements” and, together with the Initial Swap Agreement, the “7.75% Swap Agreements”), which were designed to effectively lower the Company’s interest expense, but subjected the Company to variable interest rate risk. Under the Initial Swap Agreement, the Company received interest at a fixed rate of 7.75% and paid interest at a floating rate based on six-month LIBOR, plus a spread of 3.87%. Under the Additional Swap Agreements, the Company received interest at a fixed rate of 7.75% and paid interest at a floating rate based on six-month LIBOR, plus a weighted average spread of 5.32%. The floating rates for the 7.75% Swap Agreements were determined semi-annually, in arrears, two London banking days prior to December 1 and June 1. The Company recorded interest expense on the 2020 Notes at the floating rates.

In connection with the repurchase of a portion of the 2020 Notes in 2013, the Company terminated the Additional Swap Agreements. Upon termination, the Company recognized a $5 million loss, which was included in “Other charges” on the Consolidated Statements of Comprehensive Income (Loss) in the third quarter of 2013. In connection with the 2014 redemption of the balance of the 2020 Notes remaining outstanding, the Company terminated the Initial Swap Agreement. Upon termination, the Company recognized an $18 million gain, which was included in “Other charges” on the Consolidated Statements of Comprehensive Income (Loss) in the fourth quarter of 2014.

The 7.75% Swap Agreements, which matched the terms of the 2020 Notes, were designated and accounted for as fair value hedges. Accordingly, changes in the fair value of the 7.75% Swap Agreements were offset by changes in the recorded carrying value of the related 2020 Notes. The fair value of the 7.75% Swap Agreements, which was approximately $19 million at December 31, 2013, was recorded in “Other noncurrent assets” on the Consolidated Balance Sheets and was an adjustment to the book carrying value of the related 2020 Notes.

Convertible Senior Subordinated Notes due 2025

As of December 31, 2014, approximately $80 million aggregate principal amount of the 2025 Notes remained outstanding. The 2025 Notes bear interest at a rate of 3.75% per year, payable semi-annually in arrears on June 15 and December 15 of each year. Holders may convert their 2025 Notes, prior to December 15, 2023, on any date during any calendar quarter (and only during such calendar quarter) if the closing sale price of the Company’s common stock was more than 130% of the then current conversion price for at least 20 trading days in the 30 consecutive trading day period ending on, and including, the last trading day of the previous quarter, or at any time on or after December 15, 2023 or under certain other specified circumstances. Upon conversion, the Company will pay cash and shares of its common stock, if any, on a net share settlement basis, based on a daily conversion value calculated on a proportionate basis for each day of the applicable 25 trading-day cash settlement averaging period. As of December 31, 2014, the adjusted conversion rate is approximately 37.25 shares of common stock per $1,000 principal amount of 2025 Notes (equivalent to an adjusted conversion price of approximately $26.84 per share), subject to adjustment in certain circumstances. The 2025 Notes are guaranteed by substantially all of the Company’s subsidiaries.

Under certain circumstances based on the trading price of the Company’s common stock, the Company has the right to redeem the 2025 Notes on or after December 15, 2018, at par plus accrued and unpaid interest. In addition, holders may require the Company to repurchase all or part of their 2025 Notes upon a fundamental change (as defined in the indenture governing the 2025 Notes) at a cash repurchase price equal to the accreted issue price to date plus accrued but unpaid interest.

In the second quarter of 2014, through privately negotiated transactions, Omnicare repurchased approximately $52 million in aggregate principal amount of its outstanding 2025 Notes for approximately $134 million in cash. The Company recognized a loss on the repurchases of approximately $8 million in the second quarter of 2014, which is included in “Other charges” on the Consolidated Statements of Comprehensive Income (Loss).

In August 2013, Omnicare entered into separate, privately negotiated exchange agreements under which the Company retired $180 million in aggregate principal amount of its outstanding 2025 Notes in exchange for $424 million in aggregate principal amount of newly issued 3.50% convertible senior subordinated notes due 2044 (the “2044 Notes”). Also in August 2013, the Company entered into separate, privately negotiated purchase agreements to repurchase approximately $5 million in aggregate principal amount of its outstanding 2025 Notes. In connection with these refinancing activities, the Company recognized a net loss of approximately $26 million in the third quarter of 2013, which was included in “Other charges” on the Consolidated Statements of Comprehensive Income (Loss).

In April 2012, Omnicare entered into separate, privately negotiated exchange agreements under which the Company retired $257 million in aggregate principal amount of outstanding 2025 Notes in exchange for $390 million in aggregate principal amount of newly issued 3.75% Convertible Senior Subordinated Notes due 2042 (the “2042 Notes”). The Company recognized a non-cash loss on the exchange of approximately $33 million in the second quarter of 2012, which was included in “Other charges” on the Consolidated Statements of Comprehensive Income (Loss).

As of December 31, 2014 and 2013, the 2025 Notes were convertible based on the price of the Company’s common stock over the applicable measuring period and, accordingly, the 2025 Notes have been classified as current debt, net of unamortized discount, on the Consolidated Balance Sheet. Because the terms of the 2025 Notes require the principal to be settled in cash, the Company reclassified from equity the portion of the 2025 Notes attributable to the conversion feature that had not yet been accreted to its face value.

In connection with the issuance of the 2025 Notes, the Company deferred approximately $9 million in debt issuance costs, of which an immaterial amount was amortized to expense for the years ended December 31, 2014, 2013 and 2012. Additionally, interest expense for the years ended December 31, 2014, 2013 and 2012 includes approximately $1 million, $2 million and $4 million, respectively, of deferred debt issuance costs written off in connection with the Company’s refinancing activities.

3.75% Convertible Senior Subordinated Notes due 2042

In the fourth quarter of 2014, the Company repurchased in private transactions approximately $103 million principal amount of its 2042 Notes for an aggregate purchase price of approximately $177 million and, following the Company’s issuance of a notice of redemption for all of the outstanding 2042 Notes, holders of all $287 million remaining principal amount of 2042 Notes outstanding presented their 2042 Notes for conversion. The Company settled the conversion of the 2042 Notes with an aggregate of approximately $304 million in cash and approximately 2.9 million shares of its common stock. The Company recognized a net loss on the repurchase and conversion transactions of approximately $37 million in the fourth quarter of 2014, which was included in “Other charges” on the Consolidated Statements of Comprehensive Income (Loss). Additionally, in connection with the transactions, the Company wrote off the remaining deferred debt issuance costs of $3 million, which was recorded in interest expense in the fourth quarter of 2014.

As of December 31, 2013, the 2042 Notes were convertible based on the price of the Company’s common stock over the applicable measuring period and, accordingly, the 2042 Notes were classified as current debt, net of unamortized discount, on the Consolidated Balance Sheet. Because the terms of the 2042 Notes required the principal to be settled in cash, the Company reclassified from equity the portion of the 2042 Notes attributable to the conversion feature that had not yet been accreted to its face value.

In connection with the issuance of the 2042 Notes, the Company deferred approximately $3 million in debt issuance costs, of which an immaterial amount was amortized to expense for the years ended December 31, 2014, 2013 and 2012.

Junior Subordinated Convertible Debentures due 2033

Series A 4.00% Junior Subordinated Convertible Debentures

As of December 31, 2014, approximately $10 million aggregate liquidation amount of Series A 4.00% Trust Preferred Income Equity Redeemable Securities (the “Series A PIERS”) and underlying Series A 4.00% junior subordinated convertible debentures due 2033 (the “Series A 2033 Debentures”) remained outstanding. The Company issued the Series A 2033 Debentures to Omnicare Capital Trust I (“Trust I”), a wholly-owned finance subsidiary of the Company, in connection with the issuance by Trust I of the Series A PIERS in the second quarter of 2003. Each Series A PIERS represents an undivided beneficial interest in the assets of Trust I, which assets consists solely of a corresponding amount of Series A 2033 Debentures.

The Series A PIERS pay cash distributions quarterly at a rate of 4.00% per annum. Commencing with the quarterly distribution period beginning June 15, 2009, the Series A PIERS will also pay contingent interest under certain circumstances based on their then current trading price. Holders may convert their Series A PIERS on any date during any calendar quarter (and only during such calendar quarter) if the closing sale price of the Company’s common stock was more than 130% of the then current conversion price for at least 20 trading days in the 30 consecutive trading day period ending on, and including, the last trading day of the previous quarter or during the five business day period following any ten trading day period in which the average closing sale price for the Series A PIERS was less than 105% (prior to June 15, 2028) of the average of the conversion values for the Series A PIERS (or less than 98% on or after June 15, 2028), or under certain other specified circumstances. As of December 31, 2014, the conversion rate is approximately 1.22 shares of common stock per $50 principal amount of Series A 2033 Debentures (equivalent to a conversion price of approximately $40.82 per share), subject to adjustment in certain circumstances. Omnicare has irrevocably and unconditionally guaranteed, on a subordinated basis, certain payments to be made by Trust I in connection with the Series A PIERS.

Series B 4.00% Junior Subordinated Convertible Debentures due 2033

During the first quarter of 2005, the Company exchanged $334 million aggregate liquidation amount of Series A PIERS of Trust I for an equal amount of Series B 4.00% Trust Preferred Income Equity Redeemable Securities (the “Series B PIERS”) of Omnicare Capital Trust II (“Trust II”). The Series B PIERS have substantially similar terms to the Series A PIERS, except that the Series B PIERS have a net share settlement feature. In connection with the exchange offer, the Company issued $334 million aggregate principal amount of Series B 4.00% junior subordinated convertible debentures due 2033 (the “Series B 2033 Debentures”) to Trust II. Each Series B PIERS represents an undivided beneficial interest in the assets of Trust II, which assets consist solely of a corresponding amount of Series B 2033 Debentures. Omnicare has irrevocably and unconditionally guaranteed, on a subordinated basis, certain payments to be made by Trust II in connection with the Series B PIERS. As of December 31, 2014, approximately $297 million of Series B PIERS and underlying Series B 2033 Debentures remained outstanding.

As a result of the net share settlement feature and by committing to pay cash up to the stated liquidation amount of the Series B PIERS upon conversion, the Company is able to account for the Series B PIERS under the treasury stock method.

In the fourth quarter of 2014, holders presented $0.4 million of the Series B PIERS for conversion. The Company recognized an immaterial non-cash loss on the conversion, which was reflected in “Other charges” on the Consolidated Statements of Comprehensive Income (Loss).

In the fourth quarter of 2013, holders presented $37 million and $1 million of the Series B PIERS and Series A PIERS, respectively, for conversion. The Company recognized a non-cash loss on the conversion of the Series A PIERS and Series B PIERS of approximately $1 million, which was reflected in “Other charges” on the Consolidated Statements of Comprehensive Income (Loss).

As of December 31, 2014 and 2013, the Series A PIERS and Series B PIERS were convertible based on the price of the Company’s common stock over the applicable measuring period and, accordingly, the underlying Series A 2033 Debentures and Series B 2033 Debentures have been classified as current debt, net of unamortized discount, on the Consolidated Balance Sheets. Because the terms of the Series A 2033 Debentures and the Series B 2033 Debentures require the principal to be settled in cash, the Company reclassified from equity the portion of the Series A 2033 Debentures and Series B 2033 Debentures attributable to the conversion feature that had not yet been accreted to its face value.

The Trust PIERS (and underlying 2033 Debentures) have attained the threshold requiring payment of contingent interest in addition to regular cash interest. The contingent interest has accrued or is accruing at the rate of 0.125% of the average trading price of the Trust PIERS for the five trading days ending on the respective dates outlined in the table below:

Accrual Period		Contingent Interest Rate	Trading price period end date	Cash interest paid per $50 stated liquidation amount of Trust PIERS		Payment Date
Start Date	End Date
June 15, 2013	September 14, 2013	0.125%	June 13, 2013	$	0.07	September 16, 2013
September 15, 2013	December 14, 2013	0.125%	September 12, 2013	$	0.09	December 16, 2013
December 15, 2013	March 14, 2014	0.125%	December 12, 2013	$	0.09	March 17, 2014
March 15, 2014	June 14, 2014	0.125%	March 13, 2014	$	0.09	June 16, 2014
June 15, 2014	September 14, 2014	0.125%	June 12, 2014	$	0.09	September 15, 2014
September 15, 2014	December 14, 2014	0.125%	September 12, 2014	$	0.10	December 15, 2014
December 15, 2014	March 14, 2015	0.125%	December 11, 2014	$	0.11	March 16, 2015

In connection with the issuance of the Series A 2033 Debentures and the Series B 2033 Debentures, the Company deferred $6 million in debt issuance costs, of which an immaterial amount was amortized to expense for the years ended December 31, 2014, 2013 and 2012. Additionally, interest expense for the year ended December 31, 2013 includes approximately $1 million of deferred debt issuance costs written off in connection with conversion of the Series A 2033 Debentures and Series B 2033 Debentures.

Convertible Senior Debentures due 2035

Initial 2035 Debentures

As of December 31, 2014, approximately $186 million aggregate principal amount of the Initial 2035 Debentures remained outstanding. In the fourth quarter of 2014, the Company entered into separate, privately negotiated exchange agreements under which it retired approximately $241 million aggregate principal amount outstanding of the Initial 2035 Debentures in exchange for the issuance of approximately $241 million aggregate principal amount of new 3.25% Senior Convertible Exchange Debentures due 2035 (the “Exchange 2035 Debentures”). The terms of the Exchange 2035 Debentures are substantially similar to the terms of the Initial 2035 Debentures except that the Interest Rate Reset Date, the Put Date and the Call Date were extended as described below.

The Initial 2035 Debentures bear interest at a rate of 3.25% per year, subject to an upward adjustment on and after December 15, 2015 (the “Interest Rate Reset Date”) in certain circumstances, up to an annual rate not to exceed 1.99 times 3.25%. The Initial 2035 Debentures also will accrue contingent interest in cash, beginning with the six-month interest period commencing December 15, 2015, during any six-month period in which the trading price of the Initial 2035 Debentures for each of the five trading days ending on the second trading day immediately preceding the first day of the applicable six-month interest period equals or exceeds 120% of the principal amount of the Initial 2035 Debentures.

Holders may convert their Initial 2035 Debentures, prior to December 15, 2033, on any date during any fiscal quarter (and only during such fiscal quarter) if the closing sales price of the Company’s common stock was more than 130% of the then current conversion price for at least 20 trading days in the 30 consecutive trading day period ending on, and including, the last trading day of the previous fiscal quarter or during any five consecutive trading days period if, during the previous five consecutive trading period, the average trading price of the Initial 2035 Debentures for each day was less than 98% of the average of the closing sale price of the Company’s common stock during such five trading day period multiplied by the then current conversion rate. Upon conversion, the Company will pay cash and shares of Omnicare common stock, if any, on a net share settlement basis, based on a daily conversion value calculated on a proportionate basis for each day of the applicable cash averaging settlement period. As of December 31, 2014, the adjusted conversion rate is approximately 12.99 shares of common stock per $1,000 principal amount of Initial 2035 Debentures (equivalent to an adjusted conversion price of approximately $77 per share), subject to adjustment in certain circumstances.

Holders also have the right, on December 15, 2015 (the “Put Date”), to require the Company to repurchase all or a portion of their Initial 2035 Debentures at a cash repurchase price equal to 100% of the principal amount thereof, plus accrued and unpaid interest (including contingent interest, if any). The Company has the right, on or after December 15, 2015 (the “Call Date”), to redeem all or a portion of the Initial 2035 Debentures at a cash redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest (including contingent interest, if any). Since the Put Date occurs in 2015, the Initial 2035 Debentures have been classified as current debt, net of unamortized discount, on the Consolidated Balance Sheets.

In connection with the issuance of the Initial 2035 Debentures, the Company deferred approximately $17 million in debt issuance costs, of which approximately $1 million were amortized to expense for each of the years ended December 31, 2014, 2013 and 2012.

In the second quarter of 2012, the Company purchased $25 million aggregate principal amount of its outstanding Initial 2035 Debentures and recognized a non-cash loss on the debt extinguishment of $2 million, which was recorded in “Other charges” on the Consolidated Statements of Comprehensive Income (Loss).

Exchange 2035 Debentures

As of December 31, 2014, approximately $241 million aggregate principal amount of the Exchange 2035 Debentures remained outstanding. The Exchange 2035 Debentures have substantially the same terms as the Initial 2035 Debentures except that the Put Date and Interest Rate Reset Date were extended to January 15, 2021 and the Call Date was extended to January 15, 2018.

In connection with the issuance of the Exchange 2035 Debentures, the Company deferred approximately $0.5 million in debt issuance costs, an immaterial amount of which was amortized to expense for the year ended December 31, 2014. Additionally, the Company incurred approximately $3 million in debt issuance costs related to the exchange that were recorded in “Interest expense” on the Consolidated Statements of Comprehensive Income (Loss) in the fourth quarter of 2014.

Favorably impacting operating cash flow was the excess of tax deductible interest expense over book interest expense related to the 2033 Debentures, Initial 2035 Debentures, Exchange 2035 Debentures, 2025 Notes, 2042 Notes and 2044 Notes. This resulted in an increase in the Company’s deferred tax liabilities during the year ended December 31, 2014, 2013 and 2012 of $33 million, $29 million and $21 million, respectively ($199 million cumulative as of December 31, 2014). The recorded deferred tax liability could, under certain circumstances, be realized in the future upon conversion or redemption of the related debt securities which would serve to reduce operating cash flows.

Information relating to the Company’s convertible securities at December 31, 2014 is set forth in the following table:

Convertible Debt	Carrying Value of Equity Component (in thousands)		Remaining Amortization Period	Effective Interest Rate
3.75% convertible senior subordinated notes, due 2025	$	6,913	11.00	8.250	%
4.00% junior subordinated convertible debentures, due 2033	$	118,348	18.50	8.010	%
3.25% convertible senior debentures, due 2035	$	233,901	1.00	7.630	%
3.25% convertible senior exchange debentures, due 2035	$	25,259	6.25	5.240	%
3.50% convertible senior subordinated notes, due 2044	$	208,200	29.15	7.700	%

The fair value of the Company’s fixed-rate debt instruments, excluding the previously disclosed interest rate swap values, is based on quoted market prices (Level 2) and is summarized as follows (in thousands):

Fair Value of Financial Instruments

	December 31, 2014				December 31, 2013
Financial Instrument:	Book Value		Market Value		Book Value		Market Value
7.75% senior subordinated notes, due 2020	$	—	$	—	$	400,000	$	435,800
4.75% senior notes, due 2022	400,000		408,000		—		—
5.00% senior notes, due 2024	300,000		316,700		—		—
3.75% convertible senior subordinated notes, due 2025
Carrying value	54,148		—		87,310		—
Unamortized debt discount	25,824		—		45,098		—
Principal amount	79,972		211,900		132,408		306,500
4.00% junior subordinated convertible debentures, due 2033
Carrying value	188,550		—		186,136		—
Unamortized debt discount	118,133		—		121,017		—
Principal amount	306,683		550,200		307,153		455,900
3.25% convertible senior debentures, due 2035
Carrying value	178,284		—		393,126		—
Unamortized debt discount	7,749		—		34,374		—
Principal amount	186,033		197,000		427,500		457,400
3.25% convertible senior exchange debentures, due 2035
Carrying value	216,738		—		—		—
Unamortized debt discount	24,729		—		—		—
Principal amount	241,467		279,500		—		—
3.75% convertible senior debentures, due 2042
Carrying value	—		—		225,014		—
Unamortized debt discount	—		—		164,986		—
Principal amount	—		—		390,000		592,800
3.50% convertible senior debentures, due 2044
Carrying value	218,474		—		216,643		—
Unamortized debt discount	205,776		—		207,607		—
Principal amount	424,250		507,000		424,250		428,500