1.0.0.3 false Debt false 1 $ false false USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USDPerShare Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 2 NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 0 wlt_NotesToConsolidatedFinancialsAbstract wlt false na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false No definition available. false 3 Debt 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 <!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> <HTML><HEAD> <META http-equiv=Content-Type content="text/html; charset=utf-8"> <META content="MSHTML 6.00.6000.16850" name=GENERATOR></HEAD> <BODY> Note 4Debt         Total debt consisted of the following (in thousands):  <DIV align=center> <TABLE cellSpacing=0 cellPadding=0 border=0> <TBODY> <TR> <TD style="FONT-FAMILY: times" align=left width=10></TD> <TD style="FONT-FAMILY: times" align=left width=259></TD> <TD style="FONT-FAMILY: times" width=12></TD> <TD style="FONT-FAMILY: times" align=right width=5></TD> <TD style="FONT-FAMILY: times" width=34></TD> <TD style="FONT-FAMILY: times" width=15></TD> <TD style="FONT-FAMILY: times" align=right width=5></TD> <TD style="FONT-FAMILY: times" width=44></TD> <TD style="FONT-FAMILY: times" width=3></TD></TR> <TR vAlign=bottom> <TH style="FONT-FAMILY: times" align=left colSpan=2>  </TH> <TH style="FONT-FAMILY: times"> </TH> <TH style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align=middle colSpan=2>June 30, 2009 </TH> <TH style="FONT-FAMILY: times"> </TH> <TH style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align=middle colSpan=2>December 31, 2008 </TH> <TH style="FONT-FAMILY: times"> </TH></TR> <TR vAlign=top bgColor=#cceeff> <TD style="FONT-FAMILY: times" colSpan=2> Debt:</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top bgColor=white> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> 2005 Walter term loan</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$</TD> <TD style="FONT-FAMILY: times" align=right>138,217</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$</TD> <TD style="FONT-FAMILY: times" align=right>138,934</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top bgColor=#cceeff> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> 2005 Walter revolving credit facility</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right></TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>40,000</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top bgColor=white> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> Other</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>50,971</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>46,451</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="FONT-FAMILY: times" colSpan=2> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align=right colSpan=2> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align=right colSpan=2> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top bgColor=#cceeff> <TD style="FONT-FAMILY: times" colSpan=2> Total debt</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>189,188</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>225,385</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top bgColor=white> <TD style="FONT-FAMILY: times" colSpan=2> Less: current debt</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>(21,835</TD> <TD style="FONT-FAMILY: times">)</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>(13,480</TD> <TD style="FONT-FAMILY: times">)</TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="FONT-FAMILY: times" colSpan=2> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align=right colSpan=2> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align=right colSpan=2> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top bgColor=#cceeff> <TD style="FONT-FAMILY: times" colSpan=2> Long-term debt</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$</TD> <TD style="FONT-FAMILY: times" align=right>167,353</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$</TD> <TD style="FONT-FAMILY: times" align=right>211,905</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="FONT-FAMILY: times" colSpan=2> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align=right colSpan=2> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: times" align=right colSpan=2> </TD> <TD style="FONT-FAMILY: times"> </TD></TR></TBODY></TABLE></DIV> 2005 Walter Credit Agreement, as Amended         As of June 30, 2009, borrowings under the 2005 Walter Credit Agreement consisted of a term loan balance of $138.2 million with a weighted average interest rate of 2.59%. The 2005 Walter Credit Agreement is a secured obligation of the Company and substantially all of its wholly owned domestic subsidiaries. The term loan requires quarterly principal payments of $0.4 million through October 3, 2012 at which time the remaining outstanding principal is due. The revolving credit facility and the term loan bear interest at LIBOR plus 200 and 225 basis points, respectively. The commitment fee on the unused portion of the revolving facility is 0.4% per year. The revolving credit facility matures on October 3, 2010. In addition, the 2005 Walter Credit Agreement contains a reducing revolver commitment feature, where the total available revolver commitment may not exceed $350.0 million at June 30, 2009, $300.0 million at September 30, 2009, and $250.0 million at December 31, 2009. As of June 30, 2009, the Company had $66.1 million in outstanding stand-by letters of credit, of which $15.7 million relates to the support letter of credit discussed in Note 2, and $283.9 million of availability for future borrowings under the revolving credit facility. Other Debt         In 2008, the Company entered into a financing arrangement and a capital lease arrangement to procure mining equipment. At June 30, 2009, $29.3 million was outstanding at an interest rate of 4.06% related to the equipment financing and $8.4 million was outstanding at an implicit rate of 9.78% related to the capital lease. In June 2009, the Company entered into a $12.7 million arrangement to finance the premium payments of its property insurance. The debt obligation will be repaid in nine monthly installments of $1.4 million beginning in July 2009 and has an implicit interest rate of 3.9%. As of June 30, 2009, the full $12.7 million was outstanding. In addition, as of June 30, 2009, $0.6 million of other debt was outstanding. </BODY></HTML> Note 4Debt         Total debt consisted of the following (in thousands): <!-- User-specified TAGGED TABLE false false No definition available. No authoritative reference available. false false 1 2 false UnKnown UnKnown UnKnown false true