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Debt and Credit Arrangements (Tables)
 3 Months Ended
Mar. 31, 2012
Debt and Credit Arrangements [Abstract]  
Summary of Carrying Amounts and Fair Values of Long-term Debt
A summary of the carrying amounts and fair values of our long-term debt is listed below.
 
Effective
Interest Rate
 
March 31,
2012
 
December 31,
2011
Book
Value
 
Fair
Value 1
 
Book
Value
 
Fair
Value
6.25% Senior Unsecured Notes due 2014 (less unamortized
discount of $0.3)
6.29
%
 
$
353.9

 
$
382.4

 
$
354.3

 
$
374.5

10.00% Senior Unsecured Notes due 2017 (less unamortized
discount of $9.1)
10.38
%
 
590.9

 
688.5

 
590.6

 
690.0

4.00% Senior Notes due 2022 (less unamortized
discount of $3.1)
4.13
%
 
246.9

 
245.0

 
0.0

 
0.0

4.75% Convertible Senior Notes due 2023 (plus unamortized
premium of $2.2)
3.50
%
 
202.2

 
226.5

 
202.7

 
220.5

4.25% Convertible Senior Notes due 2023
 
 
0.0

 
0.0

 
403.0

 
405.5

Other notes payable and capitalized leases
 
 
65.6

 
64.5

 
65.1

 
 
Total long-term debt
 
 
1,459.5

 
 
 
1,615.7

 
 
Less: current portion 2
 
 
219.8

 
 
 
404.8

 
 
Long-term debt, excluding current portion
 
 
$
1,239.7

 
 
 
$
1,210.9

 
 
 
1 
See Note 10 for information on the fair value measurement of our long-term debt.
2 
On March 15, 2013, holders of our 4.75% Convertible Senior Notes due 2023 (the “4.75% Notes”) may require us to repurchase their notes for cash at par and as such, we included these notes in the current portion of long-term debt on our March 31, 2012 unaudited Consolidated Balance Sheet. The 4.75% Notes are redeemable in whole or in part at our option beginning March 15, 2013. Any 4.75% Notes not repurchased on March 15, 2013 and not called for redemption by us will be reclassified to long-term debt.
Schedule of Interest Rate Derivatives
The fair value of our interest rate swap agreements and the impact on other comprehensive income and earnings related to our interest rate swap agreements are as follows:
Fair Value of Derivatives
 
March 31, 2012
 
Balance Sheet Classification
Derivative liabilities
 
 
 
Interest rate swap agreements
$
2.8

 
Non-current liabilities
 
 
 
 
 Impact on Other Comprehensive Income and Earnings
 
Three months ended
March 31, 2012
 
Loss recognized in OCI (effective portion)
 
Gain (loss) recognized in earnings (ineffective portion)
Derivative liabilities
 
 
 
Interest rate swap agreements
$
(2.8
)
 
$
0.0