NOTE 9. LONG-TERM DEBT

The Company's long-term debt consisted of the following:


		December 31,		June 30,
*(Amounts in thousands)*		2011		2011
7 3/8% Senior Notes due March 2021	$	250,000	$	250,000

At December 31, 2011 and June 30, 2011, the estimated fair value of the Company's 7 3/8% Senior Notes using available market information and interest rates was as follows:

(Amounts in thousands)
7 3/8% Senior Subordinated Notes due March 2021


		December 31,		June 30,
*(Amounts in thousands)*		2011		2011
7 3/8% Senior Subordinated Notes due March 2021	$	262,500	$	260,625

The Company determined the estimated fair value amounts by using available market information and commonly accepted valuation methodologies. However, considerable judgment is required in interpreting market data to develop estimates of fair value, primarily due to the illiquid nature of the capital markets in which the 7 3/8% Senior Notes are traded. Accordingly, the fair value estimates presented herein are not necessarily indicative of the amount that the Company or the debt holders could realize in a current market exchange. The use of different assumptions and/or estimation methodologies may have a material effect on the estimated fair value.