Senior Notes (Tables)

12 Months Ended

Dec. 31, 2014

The following table discloses certain information regarding the Company’s fixed-rate senior notes (in millions):

	Carrying Value at December 31,				Coupon Rate at		Effective Interest Rate at		Maturity Date at
	2014		2013		December 31, 2014		December 31, 2014		December 31, 2014
Unsecured indebtedness:
Senior notes	$	2,425.2	$	2,425.2	3.375%–9.625%		3.5%–9.9%		May 2015– May 2023
Senior notes – premium, net		0.7		0.2
Senior convertible notes due 2040, net^(A)		340.0		328.7		1.75%		5.3%	November 2040
Total Senior notes	$	2,765.9	$	2,754.1

(A)

The Company may redeem the senior convertible notes any time on or after November 20, 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. The holders of the senior convertible notes may require the Company to repurchase its notes in whole or in part on specified dates, the first of which is November 15, 2015, upon the fulfillment of certain conditions.

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,
	2014			2013
Carrying value of equity component	$	52,497		$	52,497
Principal amount of senior convertible notes	$	350,000		$	350,000
Remaining unamortized accretion		(9,954	)		(21,331	)
Net carrying value of senior convertible notes	$	340,046		$	328,669