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Senior Notes (Tables)
12 Months Ended
Dec. 31, 2012
Summary of Fixed-Rate Senior Notes
Carrying Value at
December 31,
    Coupon Rate
at
December 31, 2012
  Effective Interest
Rate at

December 31, 2012
  Maturity Date at
December 31, 2012
     2012      2011        

Unsecured indebtedness:

           

Senior Notes

   $ 1,825.2      $ 1,658.6     4.625% – 9.625%   4.8% – 9.9%   May 2015 -

July 2022

Senior Notes — Premium (Discount), net

     4.0        (5.4      

Senior Convertible Notes due 2040, net(A)

     317.9        307.6     1.75%   5.3%   November 2040

Senior Convertible Notes due 2012, net

            178.9     N/A   N/A   N/A
  

 

 

    

 

 

       

Total Senior Notes

   $ 2,147.1      $ 2,139.7        
  

 

 

    

 

 

       

 

(A) The Company may redeem the senior convertible notes any time on or after November 15, 2015, in whole or in part, for cash equal to 100% of the principal amount of the notes plus accrued and unpaid interest through, but excluding, the redemption date. In addition, the holders of the senior convertible notes may require the Company to repurchase their notes in whole or in part on specified dates, the first of which is November 15, 2015.
Summary of Carrying Amounts of Debt and Equity Balances

The Company’s carrying amounts of its debt and equity balances for the senior convertible notes are as follows (in thousands):

 

     December 31,  
     2012     2011  

Carrying value of equity component

   $ 52,497     $ 69,217  
  

 

 

   

 

 

 

Principal amount of senior convertible notes

   $ 350,000     $ 529,509  

Remaining unamortized debt discount

     (32,120     (43,004
  

 

 

   

 

 

 

Net carrying value of senior convertible notes

   $ 317,880     $ 486,505