1.0.0.3 false Note 13 - Credit Facilities and Indebtedness false 1 $ false false Unit_1 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 Unit_2 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 Unit_9 Standard http://www.xbrl.org/2003/instance shares xbrli 0 2 Note 13 - Credit Facilities and Indebtedness [Abstract] 0 igt_Note13CreditFacilitiesAndIndebtednessAbstract igt false na duration string Note 13 - Credit Facilities and Indebtedness false false false false false true false false false 1 false false 0 0 false false Note 13 - Credit Facilities and Indebtedness false 3 Debt Disclosure [Text Block] 1 us-gaap_DebtDisclosureTextBlock us-gaap true na duration string No definition available. false false false false false false false false false 1 false false 0 0 <div> <div><div><div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <div> <h4 style="font-size: 12pt; margin-left: 0.7in; text-indent: -0.7in; margin-right: 0in; font-family: 'Microsoft Sans Serif';">13.       Credit Facilities and Indebtedness</h4> <div align="center"> <table class="MsoNormalTable" style="font-size: 10pt; font-family: 'Times New Roman'; border-collapse: separate;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom"> Outstanding balance September 30,</td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom">   </td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom" colspan="2"> 2009</td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom">   </td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom">   </td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom" colspan="2"> 2008</td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom">   </td></tr> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="bottom"> (In millions)</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="bottom">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="bottom" colspan="2">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="bottom">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="bottom">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="bottom" colspan="2">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="bottom">   </td></tr> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 68%; padding-top: 0in;" valign="bottom" width="68%"> Domestic revolving credit facility</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%"> $</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 13%; padding-top: 0in;" valign="bottom" width="13%"> 100.0</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%"> $</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 13%; padding-top: 0in;" valign="bottom" width="13%"> 1,345.0</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td></tr> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; width: 68%; padding-top: 0in;" valign="bottom" width="68%"> Foreign revolving credit facilities</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; width: 13%; padding-top: 0in;" valign="bottom" width="13%"> 5.3</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; width: 13%; padding-top: 0in;" valign="bottom" width="13%"> 15.0</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td></tr> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 68%; padding-top: 0in;" valign="bottom" width="68%"> Debentures</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 13%; padding-top: 0in;" valign="bottom" width="13%"> 707.0</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 13%; padding-top: 0in;" valign="bottom" width="13%"> 900.0</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td></tr> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; width: 68%; padding-top: 0in;" valign="bottom" width="68%"> Notes</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; width: 13%; padding-top: 0in;" valign="bottom" width="13%"> 850.0</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; width: 13%; padding-top: 0in;" valign="bottom" width="13%"> -</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td></tr> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 68%; padding-top: 0in;" valign="bottom" width="68%"> Installment purchase contract</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 13%; padding-top: 0in;" valign="bottom" width="13%"> -</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 13%; padding-top: 0in;" valign="bottom" width="13%"> 3.1</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td></tr> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 1.45pt; width: 68%; padding-top: 0in;" valign="bottom" width="68%"> Bonds</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 1.45pt; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; border-left: medium none; width: 1%; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom" width="1%">   </td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; border-left: medium none; width: 13%; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom" width="13%"> 500.0</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 1.45pt; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 1.45pt; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; border-left: medium none; width: 1%; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom" width="1%">   </td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; border-left: medium none; width: 13%; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom" width="13%"> -</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 1.45pt; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td></tr> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 68%; padding-top: 0in;" valign="bottom" width="68%"> Total notes payable</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 13%; padding-top: 0in;" valign="bottom" width="13%"> 2,162.3</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 13%; padding-top: 0in;" valign="bottom" width="13%"> 2,263.1</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td></tr> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; width: 68%; padding-top: 0in;" valign="bottom" width="68%"> Discount</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; width: 13%; padding-top: 0in;" valign="bottom" width="13%"> (2.6</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%"> )</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; width: 13%; padding-top: 0in;" valign="bottom" width="13%"> -</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td></tr> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 1.45pt; width: 68%; padding-top: 0in;" valign="bottom" width="68%"> Swap fair value adjustment</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 1.45pt; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; border-left: medium none; width: 1%; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom" width="1%">   </td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; border-left: medium none; width: 13%; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom" width="13%"> 15.1</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 1.45pt; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 1.45pt; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; border-left: medium none; width: 1%; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom" width="1%">   </td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; border-left: medium none; width: 13%; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom" width="13%"> -</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 1.45pt; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td></tr> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 2.95pt; width: 68%; padding-top: 0in;" valign="bottom" width="68%"> Total notes payable, net</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 2.95pt; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; border-left: medium none; width: 1%; padding-top: 0in; border-bottom: black 2.25pt double;" valign="bottom" width="1%"> $</td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; border-left: medium none; width: 13%; padding-top: 0in; border-bottom: black 2.25pt double;" valign="bottom" width="13%"> 2,174.8</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 2.95pt; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 2.95pt; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; border-left: medium none; width: 1%; padding-top: 0in; border-bottom: black 2.25pt double;" valign="bottom" width="1%"> $</td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 0in; border-left: medium none; width: 13%; padding-top: 0in; border-bottom: black 2.25pt double;" valign="bottom" width="13%"> 2,263.1</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: white; padding-bottom: 2.95pt; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td></tr></table></div> <a name="_1309958682"></a><a name="_1310292063"></a><a name="_1310889216"></a><a name="_1310984766"></a><a name="_1310991595"></a><a name="_1310991624"></a> The table below reflects our expected future principal payments as of September 30, 2009. The Debentures were included with 2010 payments as we expect holders will exercise the December 2009 put right. <div align="center"> <table class="MsoNormalTable" style="font-size: 10pt; font-family: 'Times New Roman'; border-collapse: separate;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom">   </td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom">   </td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom" colspan="2"> 2010</td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom">   </td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom">   </td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom" colspan="2"> 2011</td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom">   </td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom">   </td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom" colspan="2"> 2012</td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom">   </td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom">   </td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom" colspan="2"> 2013</td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom">   </td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom">   </td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom" colspan="2"> 2014</td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom">   </td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom">   </td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom" colspan="2"> Thereafter</td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom">   </td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom">   </td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom" colspan="2"> Total</td> <td style="border-right: medium none; padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: black 1.5pt solid;" valign="bottom">   </td></tr> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="bottom"> (in millions)</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="bottom">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="bottom" colspan="2">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="bottom">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="bottom">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="bottom" colspan="2">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="bottom">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="bottom">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="bottom" colspan="2">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="bottom">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="bottom">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="bottom" colspan="2">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="bottom">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="bottom">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="bottom" colspan="2">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="bottom">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="bottom">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="bottom" colspan="2">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="bottom">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="bottom">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="bottom" colspan="2">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="bottom">   </td></tr> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 23%; padding-top: 0in;" valign="bottom" width="23%"> Principal payments</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%"> $</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 8%; padding-top: 0in;" valign="bottom" width="8%"> 712.3</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%"> $</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 8%; padding-top: 0in;" valign="bottom" width="8%"> 15.6</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%"> $</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 8%; padding-top: 0in;" valign="bottom" width="8%"> 84.4</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%"> $</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 8%; padding-top: 0in;" valign="bottom" width="8%"> -</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%"> $</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 8%; padding-top: 0in;" valign="bottom" width="8%"> 850.0</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%"> $</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 8%; padding-top: 0in;" valign="bottom" width="8%"> 500.0</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%"> $</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 8%; padding-top: 0in;" valign="bottom" width="8%"> 2,162.3</td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; background: #c0ffff; padding-bottom: 0in; width: 1%; padding-top: 0in;" valign="bottom" width="1%">   </td></tr></table></div> We were in compliance with all applicable debt covenants at September 30, 2009. <h6 style="font-size: 9.5pt; margin-left: 0.7in; text-indent: -0.7in; margin-right: 0in; font-family: 'Microsoft Sans Serif';">Domestic Revolving Credit Facility</h6> In June 2009, our $2.5 billion credit facility was amended and restated providing for a reduced revolving credit line of $2.1 billion, extending the maturity on $1.7 billion to June 8, 2012 and leaving $0.4 billion with the non-extended maturity of December 19, 2010. Upon the subsequent issuance of Bonds described below, the amended facility was further reduced by $0.3 billion to a total commitment of $1.8 billion, with $1.5 billion extended and $0.3 billion non-extended. Interest under the amended facility is paid at least quarterly with rates and facility fees based on our public debt ratings or debt to capitalization ratio. Initially, extended commitments bear interest at LIBOR plus 260 bps with a facility fee of 65 bps and non-extended commitments bear interest at LIBOR plus 37.5 bps with a facility fee of 12.5 bps. At September 30, 2009, $100.0 million was drawn on the amended facility ($84.4 million extended and $15.6 million non-extended), $1.7 billion was available, and $3.6 million was reserved for letters of credit. The outstanding amount carried a 2.74% weighted average interest rate. Half of amounts outstanding at December 19, 2010 will convert to term loans due in six installments. The first five installments, equal to 1.25% of the converted principal, are due March 31, June 30, September 30, December 31, 2011 and March 31, 2012, and the final installment for the remaining outstanding principal is due on June 8, 2012. IGT was required to repay $780.0 million outstanding under the original facility and immediately re-borrow it under the terms of the amended facility. Non-recurring charges of $4.4 million for associated breakage fees on the early repayments and deferred offering costs related to the commitment reduction were recorded in third quarter interest expense. Capitalized debt issuance costs of approximately $35.4 million will be amortized to interest expense over the amended facility term.   Obligations under the amended facility are generally unsecured, except that in the event of certain declines in our debt ratings (as described in the amended facility), we will grant a lien on 100% and 66% of the equity interests of our direct and wholly-owned domestic and foreign subsidiaries, respectively, pursuant to the terms of a Pledge and Security Agreement. The Notes, Bonds or similar securities issued by IGT and certain interest rate hedges provided by lenders or their affiliates under the amended facility are permitted to share in any collateral granted.  Any lien granted will be released if we satisfy the minimum debt rating requirements (as described in the amended facility) for at least three consecutive calendar months. The amended facility includes the following covenants (all terms as defined per the amended facility): <table class="MsoNormalTable" style="font-size: 10pt; margin-bottom: 0pt; margin-left: 0in; margin-right: 0in; font-family: 'Times New Roman'; border-collapse: separate;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; width: 0.5in; padding-top: 0in;" valign="top" width="48"> ª   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="top"> a minimum ratio of adjusted EBITDA to interest expense (interest coverage ratio)</td></tr></table> <table class="MsoNormalTable" style="font-size: 10pt; margin-bottom: 0pt; margin-left: 0in; margin-right: 0in; font-family: 'Times New Roman'; border-collapse: separate;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; width: 0.5in; padding-top: 0in;" valign="top" width="48"> ª   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="top"> a maximum ratio of Total Debt to adjusted EBITDA (total leverage ratio)</td></tr></table> <table class="MsoNormalTable" style="font-size: 10pt; margin-bottom: 0pt; margin-left: 0in; margin-right: 0in; font-family: 'Times New Roman'; border-collapse: separate;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; width: 0.5in; padding-top: 0in;" valign="top" width="48"> ª   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="top"> certain restrictions on our ability to:</td></tr></table> <table class="MsoNormalTable" style="font-size: 10pt; margin-bottom: 0pt; margin-left: 0in; margin-right: 0in; font-family: 'Times New Roman'; border-collapse: separate;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96"> §   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="top"> incur or guaranty additional debt, or enter into swap agreements</td></tr></table> <table class="MsoNormalTable" style="font-size: 10pt; margin-bottom: 0pt; margin-left: 0in; margin-right: 0in; font-family: 'Times New Roman'; border-collapse: separate;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96"> §   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="top"> incur liens</td></tr></table> <table class="MsoNormalTable" style="font-size: 10pt; margin-bottom: 0pt; margin-left: 0in; margin-right: 0in; font-family: 'Times New Roman'; border-collapse: separate;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96"> §   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="top"> merge with or acquire other companies, liquidate or dissolve</td></tr></table> <table class="MsoNormalTable" style="font-size: 10pt; margin-bottom: 0pt; margin-left: 0in; margin-right: 0in; font-family: 'Times New Roman'; border-collapse: separate;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96"> §   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="top"> sell, transfer, lease or dispose of substantially all assets</td></tr></table> <table class="MsoNormalTable" style="font-size: 10pt; margin-bottom: 0pt; margin-left: 0in; margin-right: 0in; font-family: 'Times New Roman'; border-collapse: separate;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96"> §   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="top"> change the nature of our business</td></tr></table> <table class="MsoNormalTable" style="font-size: 10pt; margin-bottom: 0pt; margin-left: 0in; margin-right: 0in; font-family: 'Times New Roman'; border-collapse: separate;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96"> §   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="top"> declare or make cash dividends or distributions or pay cash for the purchase, redemption, retirement, defeasance, acquisition, cancellation or termination of our capital stock or equity interests or any return of capital to shareholders, provided that we may, as long as no continuing default has occurred, pay dividends of up to the lesser of $0.06 per common share per fiscal quarter or $25 million in any fiscal quarter.</td></tr></table> The amended facility specifies a number of events of default (some of which are subject to applicable grace or cure periods), including failure to make timely principal and interest payments or satisfy the covenants. Upon the occurrence of an event of default under the credit facility, the lenders may cease making loans, terminate the commitments, and declare all amounts outstanding to be immediately due and payable. All features of the amended facility were evaluated for embedded derivatives and we determined no embedded features require bifurcation.   <h6 style="font-size: 9.5pt; margin-left: 0.7in; text-indent: -0.7in; margin-right: 0in; font-family: 'Microsoft Sans Serif';">Foreign Revolving Credit Facilities</h6> Our foreign credit facilities at September 30, 2009 totaled $58.6 million, of which $5.3 million was outstanding with a weighted average interest rate of 1.38%. These subsidiary credit facilities renew annually and are guaranteed by the parent company, International Game Technology. <h6 style="font-size: 9.5pt; margin-left: 0.7in; text-indent: -0.7in; margin-right: 0in; font-family: 'Microsoft Sans Serif';">2.6% Convertible Debentures</h6> We issued $900.0 million principal amount of 2.6% Senior Convertible Debentures due December 15, 2036 in a private placement on December 20, 2006. Interest is due semiannually on June 15 and December 15. The Debentures are general unsecured obligations of IGT, ranking equal with all existing and future unsecured and unsubordinated obligations. The Debentures rank junior to all existing and future subsidiary liabilities, including trade payables. At September 30, 2009, $707.0 million par of Debentures were outstanding after repurchases of $193.0 million for gains of $6.5 million during fiscal 2009. No Debentures were repurchased subsequent to September 30, 2009 through November 30, 2009. IGT may redeem some or all of the Debentures for cash on or after December 20, 2009, at 100% of their principal amount plus accrued and unpaid interest, if any, up to the redemption date. If IGT redeems the Debentures, holders will be notified at least 15 days, but not more than 60 days, prior to the redemption date. Holders have the right to require IGT to redeem the Debentures for cash at 100% of their principal amount plus accrued and unpaid interest, if any, on December 15, 2009, 2011, 2016, 2021, 2026 and 2031. On November 12, 2009, we gave Debenture holders notice of the December 2009 put right, which we expect holders to exercise given current maker conditions and the recent trading prices of our common stock. At September 30, 2009, the Debentures were not classified as current liabilities because we had the intent and ability to refinance with our noncurrent domestic credit facility. We may also pay contingent interest for the period commencing December 20, 2009 through June 14, 2010 and any six-month period thereafter, if the average trading price (as defined in the indenture) per $1,000 Debenture for the five trading day measurement period ending on the third trading day immediately preceding the first day of the interest period equals 120% or more of an equal principal amount of Debentures. The amount of contingent interest will equal 0.25% per annum of the average trading price per $1,000 Debenture during the five trading day measurement period used to determine whether contingent interest must be paid. Under certain circumstances, each $1,000 Debenture may be converted at an initial conversion rate of 16.1875 shares of IGT Common Stock, representing a stock price of $61.78 or a 35% conversion premium over the market price at issuance. Upon conversion, for each $1,000 Debenture, a holder will receive cash up to $1,000, plus accrued and unpaid interest, if any, and shares for any conversion value determined in a manner set forth in the indenture. The conversion rate is adjustable upon the occurrence of certain events as defined in the indenture. The Debentures are convertible under any of the following circumstances: <table class="MsoNormalTable" style="font-size: 10pt; margin-bottom: 0pt; margin-left: 0in; margin-right: 0in; font-family: 'Times New Roman'; border-collapse: separate;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; width: 0.5in; padding-top: 0in;" valign="top" width="48"> ª   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="top"> during any fiscal quarter ending after March 31, 2007 if the closing price of our common stock is more than 130% of the conversion price during the measurement period of the preceding fiscal quarter</td></tr></table> <table class="MsoNormalTable" style="font-size: 10pt; margin-bottom: 0pt; margin-left: 0in; margin-right: 0in; font-family: 'Times New Roman'; border-collapse: separate;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; width: 0.5in; padding-top: 0in;" valign="top" width="48"> ª   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="top"> if the Debentures are called for redemption</td></tr></table> <table class="MsoNormalTable" style="font-size: 10pt; margin-bottom: 0pt; margin-left: 0in; margin-right: 0in; font-family: 'Times New Roman'; border-collapse: separate;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; width: 0.5in; padding-top: 0in;" valign="top" width="48"> ª   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="top"> if specified corporate transactions occur</td></tr></table> <table class="MsoNormalTable" style="font-size: 10pt; margin-bottom: 0pt; margin-left: 0in; margin-right: 0in; font-family: 'Times New Roman'; border-collapse: separate;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; width: 0.5in; padding-top: 0in;" valign="top" width="48"> ª   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="top"> during the last three months prior to maturity</td></tr></table> The market price condition for convertibility has not yet been met. We evaluated all features of the Debentures for embedded derivatives and determined the contingent interest feature represents an embedded derivative requiring bifurcation. No derivative liability was recorded at September 30, 2009 and September 30, 2008 because the fair value was nominal. Changes in fair value are adjusted through interest expense. <h6 style="font-size: 9.5pt; margin-left: 0.7in; text-indent: -0.7in; margin-right: 0in; font-family: 'Microsoft Sans Serif';">3.25% Convertible Notes</h6> On May 11, 2009, we issued $850.0 million aggregate principal amount of Notes, in a private placement for net proceeds of $822.5 million, after deferred offering costs of approximately $27.5 million, which will be amortized to interest expense over the Note term. We will pay interest at 3.25% on the Notes, semiannually on May 1 and November 1, beginning November 1, 2009. Proceeds from the Notes (net of amounts used for the separate note hedge transactions and funds provided by the separate warrant transactions described below) were used to reduce outstanding borrowings under our revolving domestic credit facility. The Notes are general unsecured obligations of IGT, ranking equal with all existing and future unsecured and unsubordinated obligations. The Notes rank junior to all existing and future subsidiary liabilities, including trade payables. The Notes mature on May 1, 2014, unless repurchased earlier by IGT or converted. The Notes are not redeemable at IGT's option before maturity, except in certain circumstances relating to applicable gaming authority regulations. The terms of the Notes may, in certain circumstances, require us to grant a lien on equity interests if certain downgrades by rating agencies occur. Each $1,000 Note is initially convertible into 50.0808 shares of IGT Common Stock, representing a conversion price of $19.97 per share. Upon conversion, a holder will receive cash up to the aggregate principal amount of each Note and shares of our common stock for any conversion value in excess of the principal amount as determined per the indenture. The conversion rate is adjustable upon the occurrence of certain events as defined in the indenture. The Notes are convertible under any of the following circumstances: <table class="MsoNormalTable" style="font-size: 10pt; margin-bottom: 0pt; margin-left: 0in; margin-right: 0in; font-family: 'Times New Roman'; border-collapse: separate;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; width: 0.5in; padding-top: 0in;" valign="top" width="48"> ª   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="top"> during any fiscal quarter ending after September 30, 2009 (and only during such fiscal quarter), if the closing price of our common stock for at least 20 trading days in the last 30 trading day period of the immediately preceding fiscal quarter is more than 130% of the conversion price on the last trading day of the preceding fiscal quarter</td></tr></table> <table class="MsoNormalTable" style="font-size: 10pt; margin-bottom: 0pt; margin-left: 0in; margin-right: 0in; font-family: 'Times New Roman'; border-collapse: separate;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; width: 0.5in; padding-top: 0in;" valign="top" width="48"> ª   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="top"> if specified corporate transactions occur as described further in the indenture</td></tr></table> <table class="MsoNormalTable" style="font-size: 10pt; margin-bottom: 0pt; margin-left: 0in; margin-right: 0in; font-family: 'Times New Roman'; border-collapse: separate;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; width: 0.5in; padding-top: 0in;" valign="top" width="48"> ª   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="top"> at any time on or after February 1, 2014 until the close of business on the second scheduled trading day immediately preceding May 1, 2014</td></tr></table> Holders who convert their Notes in connection with a make-whole adjustment event, as defined in the indenture, may be entitled to a premium increase in the conversion rate. Upon the occurrence of a fundamental change, as defined in the indenture, such as certain mergers and acquisitions of our common stock or liquidation, holders have the option to require IGT to repurchase their Notes at a purchase price equal to 100% of the principal, plus accrued and unpaid interest. Note Hedges In connection with the Notes, we paid an aggregate amount of $177.3 million to certain initial Note purchasers or their affiliates (counterparties) for separate convertible note hedges. The hedges reduce the potential dilution related to conversion of the Notes if the market value of our common stock, as measured under the Notes, at the time of the hedge exercise is greater than the Note conversion price. The note hedges were separate transactions apart from the Notes or warrants described below and were recorded as an adjustment to stockholders' equity, net of deferred tax assets of $65.5 million. Note holders have no rights with respect to the note hedges. The note hedges cover, subject to anti-dilution and certain other customary adjustments substantially identical to those in the Notes, approximately 42.6 million shares of our common stock at a strike price of $19.97, which corresponds to the initial conversion price of the Notes. The note hedges are exercisable at each conversion date of the Notes and expire upon the earlier of the last day the Notes remain outstanding or the second scheduled trading day immediately preceding May 1, 2014. Warrants Additionally, we sold warrants to acquire approximately 42.6 million shares of common stock, subject to anti-dilution and certain other customary adjustments, at a strike price of $30.14 per share, to the counterparties for an aggregate amount of $66.8 million. The warrants were separate transactions apart from the Notes or note hedges and accounted for as an adjustment to stockholders' equity. Note holders have no rights with respect to the warrants. If the volume weighted average share price of our common stock, as measured under the warrants, exceeds the strike price of the warrants, the warrants will have a dilutive effect on our earnings per share. The warrants expire over a series of dates with the final expiration date set to occur in November 2014. <h6 style="font-size: 9.5pt; margin-left: 0.7in; text-indent: -0.7in; margin-right: 0in; font-family: 'Microsoft Sans Serif';">7.5% Bonds</h6> On June 15, 2009, we issued $500.0 million aggregate principal amount of 7.5% Bonds due 2019, under our March 2009 shelf registration statement and June 11, 2009 prospectus supplement, to certain underwriters pursuant to an underwriting agreement dated June 10, 2009. We received net proceeds of $493.3 million after a discount of $2.7 million and deferred offering costs of approximately $4.0 million, both of which will be amortized to interest expense over the Bond term. Interest is payable semiannually on June 15 and December 15, beginning December 15, 2009. We intend to use the net proceeds from the Bonds to fund the redemption of a portion of our Debentures expected to be put to us in December 2009. Until the Debentures can be redeemed, we temporarily repaid outstanding credit facility amounts and intend to re-borrow to fund the redemptions. The Bonds are general unsecured obligations of IGT, ranking equal with all existing and future unsecured and unsubordinated obligations. The Bonds rank junior to all existing and future liabilities, including trade payables, of our subsidiaries. The Bonds mature on June 15, 2019, unless IGT redeems them earlier by paying the holders 100% of the principal amount plus a make-whole redemption premium as described further in the indenture. The Bonds contain covenants which may, in certain circumstances: <table class="MsoNormalTable" style="font-size: 10pt; margin-bottom: 0pt; margin-left: 0in; margin-right: 0in; font-family: 'Times New Roman'; border-collapse: separate;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; width: 0.5in; padding-top: 0in;" valign="top" width="48"> ª   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="top"> restrict our ability to incur additional debt</td></tr></table> <table class="MsoNormalTable" style="font-size: 10pt; margin-bottom: 0pt; margin-left: 0in; margin-right: 0in; font-family: 'Times New Roman'; border-collapse: separate;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; width: 0.5in; padding-top: 0in;" valign="top" width="48"> ª   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="top"> limit our ability to enter into sale and leaseback transactions</td></tr></table> <table class="MsoNormalTable" style="font-size: 10pt; margin-bottom: 0pt; margin-left: 0in; margin-right: 0in; font-family: 'Times New Roman'; border-collapse: separate;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; width: 0.5in; padding-top: 0in;" valign="top" width="48"> ª   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="top"> restrict our ability to sell, transfer, lease or dispose of substantially all assets</td></tr></table> <table class="MsoNormalTable" style="font-size: 10pt; margin-bottom: 0pt; margin-left: 0in; margin-right: 0in; font-family: 'Times New Roman'; border-collapse: separate;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; width: 0.5in; padding-top: 0in;" valign="top" width="48"> ª   </td> <td style="padding-right: 0in; border-top: 0px; padding-left: 0in; padding-bottom: 0in; padding-top: 0in;" valign="top"> require us to grant a lien on equity interests if certain downgrades by rating agencies occur</td></tr></table> The Bonds specify a number of events of default (some of which are subject to applicable grace or cure periods), including the failure to make timely principal and interest payments or satisfy the covenants. Upon the occurrence of an event of default under the Bonds, the outstanding amounts may become immediately due and payable. We evaluated all features of the Bonds and determined the Change of Control/Downgrade Put (described further in the indenture) represents an embedded derivative requiring bifurcation. The value of this derivative was nominal at September 30, 2009 and no related derivative asset or liability was recorded. Any future derivative value will be adjusted through other income (expense) for changes in fair value. Interest Rate Swap In conjunction with our Bonds issued in June 2009, we entered into $250.0 million notional value of interest rate swaps maturing on June 15, 2019, which effectively exchange 7.5% fixed interest payments for variable rate interest payments at one-month LIBOR plus 342 bps reset on the 15th of each month. Net amounts receivable or payable under the swaps will be settled semiannually on June 15 and December 15. See Note 19 for derivative values. <h6 style="font-size: 9.5pt; margin-left: 0.7in; text-indent: -0.7in; margin-right: 0in; font-family: 'Microsoft Sans Serif';">Shelf Registration</h6> In March 2009, we filed a shelf registration statement with the SEC which allows us to issue debt securities, in one or more series, from time to time in amounts, at prices and on terms determined at the time of offering. The Bonds were issued under this registration statement. <h6 style="font-size: 9.5pt; margin-left: 0.7in; text-indent: -0.7in; margin-right: 0in; font-family: 'Microsoft Sans Serif';">Redeemed 1.75% Zero-Coupon Senior Convertible Debentures</h6> On December 26, 2006, we called all of our outstanding 1.75% Debentures for redemption, giving holders the right to convert before January 10, 2007 for aggregate consideration comprised of shares and cash under the terms of the applicable indentures. The call resulted in payments to holders of $612.7 million, as well as non-cash increases to additional paid-in-capital of $1.2 million for 7.3 million shares issued and $47.5 million for related deferred tax liabilities during fiscal 2007.</div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div> </div> 13.       Credit Facilities and Indebtedness Outstanding balance September false false No definition available. No authoritative reference available. false false 1 2 false UnKnown UnKnown UnKnown false true