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Debt (Tables)
9 Months Ended
Sep. 30, 2012
Debt  
Components of interest expense of convertible debt

 

 

 

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

 

 

 

2012

 

2011

 

2012

 

2011

 

Contractual coupon rate of interest

 

$

625

 

$

312

 

$

1,875

 

$

937

 

Discount amortization

 

2,626

 

4,268

 

7,790

 

12,569

 

Interest expense—convertible notes (1)

 

$

3,251

 

$

4,580

 

$

9,665

 

$

13,506

 

 

 

(1)         Interest expense recognized in connection with our convertible notes for the three- and nine-month periods ended September 30, 2011 consisted solely of the effective interest relating to a prior issue of convertible notes that matured in October 2011 (2011 Convertible Notes). We accounted for the 2011 Convertible Notes in a manner similar to that of the 2016 Convertible Notes using an effective interest rate of 7.5 percent.

Information about carrying amount of convertible debt

 

 

 

 

September 30,
2012

 

December 31,
2011

 

Principal balance

 

$

250,000

 

$

250,000

 

Discount, net of accumulated amortization of $9,908 and $2,118

 

(48,030

)

(55,820

)

Carrying amount

 

$

201,970

 

$

194,180

 

Components of interest expense

 

 

 

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

 

 

 

2012

 

2011

 

2012

 

2011

 

Interest expense

 

$

4,384

 

$

5,646

 

$

13,054

 

$

16,702

 

Less: interest capitalized

 

 

(230

)

(905

)

(446

)

Total interest expense

 

$

4,384

 

$

5,416

 

$

12,149

 

$

16,256