Debt and Credit Arrangements (Tables)

6 Months Ended

Jun. 30, 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	June 30, 2012				December 31, 2011
		Book Value		Fair Value 1		Book Value		Fair Value 1
6.25% Senior Unsecured Notes due 2014 (less unamortized discount of $0.2)	6.29%	$	353.5	$	378.0	$	354.3	$	374.5
10.00% Senior Unsecured Notes due 2017 (less unamortized discount of $8.8)	10.38%	591.2		679.5		590.6		690.0
4.00% Senior Notes due 2022 (less unamortized discount of $3.1)	4.13%	246.9		254.4		0.0		0.0
4.75% Convertible Senior Notes due 2023 (plus unamortized premium of $1.6)	3.50%	201.6		215.0		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		63.2		59.9		65.1
Total long-term debt		1,456.4				1,615.7
Less: current portion 2		217.7				404.8
Long-term debt, excluding current portion		$	1,238.7			$	1,210.9

¹  See Note 11 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 accordingly, we included these notes in the current portion of long-term debt on our June 30, 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 or called for redemption by us will be reclassified to long-term debt. We included our 4.25% Convertible Senior Notes due 2023 (the “4.25% Notes”) in the current portion of long-term debt on our December 31, 2011 Consolidated Balance Sheet because holders of the 4.25% Notes had a repurchase option on March 15, 2012 for cash at par.

Schedule of Interest Rate Swap Agreements

The following table presents the fair value of our interest rate swap agreements on our unaudited Consolidated Balance Sheets.

Derivative liabilities	Classification	June 30, 2012		December 31, 2011
Interest rate swap agreements	Non-current liabilities	$	18.6	$	0.0

The following table presents the effect of our interest rate swap agreements on our unaudited Consolidated Statements of Comprehensive Income and our unaudited Consolidated Statements of Operations.

		Three months ended June 30,					Six months ended June 30,
	Classification	2012			2011		2012			2011
Loss recognized in other comprehensive income (effective portion)	Other comprehensive income	$	(15.8	)	$	0.0	$	(18.6	)	$	0.0
Loss recognized in earnings (ineffective portion)	Other income (expense), net	(0.1		)	0.0		(0.1		)	0.0
Amount reclassified from other comprehensive income into earnings 1		0.0			0.0		0.0			0.0

¹  As of June 30, 2012, there are no deferred net losses on our interest rate swap agreements accumulated in other comprehensive income which are expected to be reclassified into earnings during the next twelve months. This expectation is based on the anticipated timing of the hedged transactions.