Debt (Notes)

9 Months Ended

Sep. 30, 2012

Debt

The Company’s total indebtedness as of September 30, 2012 and December 31, 2011 consisted of the following:




	September 30, 2012		December 31, 2011
	(Dollars in millions)
Term Loan	$	450.0	$	468.8
2011 Term Loan Facility	975.0		1,000.0
7.375% Senior Notes due November 2016	650.0		650.0
6.00% Senior Notes due November 2018	1,518.8		1,600.0
6.50% Senior Notes due September 2020	650.0		650.0
6.25% Senior Notes due November 2021	1,339.6		1,500.0
7.875% Senior Notes due November 2026	247.4		247.3
Convertible Junior Subordinated Debentures due December 2066	376.8		375.2
Capital lease obligations	111.6		122.8
Other	43.9		43.4
Total Debt	$	6,363.1	$	6,657.5

6.00% and 6.25% Senior Notes

During the second quarter of 2012, the Company repurchased $81.2 million and $160.4 million in aggregate principal amount of its 6.00% and 6.25% Senior Notes due 2018 and 2021 (the Notes), respectively, with existing cash on hand. The Company recognized a loss on debt extinguishment of $2.8 million associated with these repurchases, which was comprised of $3.4 million of expense related to the write-off of deferred financing costs and a gain of $0.6 million as the repurchases were made below par value. The loss is classified in "Interest expense" in the unaudited condensed consolidated statement of operations for the nine months ended September 30, 2012.

During the third quarter of 2012, the Company commenced an offer to exchange any and all of the Notes outstanding for substantially identical freely tradable debt securities registered under the Securities Act of 1933. The exchange offer was completed in October 2012 and did not affect the Company's indebtedness outstanding.

Other Long-Term Debt

Other than the foregoing, there were no significant changes to the Company's long-term debt subsequent to December 31, 2011. Information regarding the Company's debt is outlined in Note 11 to the Consolidated Financial Statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2011.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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