Credit Facilities, Short-term Borrowings and Long-term Debt (Tables)

6 Months Ended

Jun. 30, 2011

Credit Facilities, Short-term Borrowings and Long-term Debt [Abstract]

Short-term borrowings

	June 30		December 31		June 30
dollars in thousands	2011		2010		2010
Short-term Borrowings
Bank borrowings		$100,000		$285,500		$0
Commercial paper		0		0		320,000
Total		$100,000		$285,500		$320,000
Bank Borrowings
Maturity	15 days		3 - 74 days			n/a
Weighted-average interest rate		0.53 %		0.59 %		n/a
Commercial Paper
Maturity		n/a		n/a	1 - 2 days
Weighted-average interest rate		n/a		n/a		0.70%

Long-term debt

	June 30			December 31		June 30
in thousands	2011			2010		2010
Long-term Debt
6.50% 5.5-year notes issued 20111		$500,000			$0		$0
7.50% 10-year notes issued 20112		600,000			0		0
5-year floating-rate term loan issued 2010		0			450,000		0
10.125% 7-year notes issued 20093		149,628			149,597		149,567
10.375% 10-year notes issued 20094		248,457			248,391		248,329
3-year floating-rate term loan issued 2008		0			0		100,000
6.30% 5-year notes issued 20085		140,322			249,729		249,680
7.00% 10-year notes issued 20086		399,675			399,658		399,641
3-year floating-rate notes issued 2007		0			0		325,000
5.60% 5-year notes issued 20077		134,483			299,773		299,719
6.40% 10-year notes issued 20078		349,861			349,852		349,844
7.15% 30-year notes issued 20079		239,717			249,324		249,321
Private placement notes		0			0		15,181
Medium-term notes		21,000			21,000		21,000
Industrial revenue bonds		14,000			14,000		17,550
Other notes		1,349			1,438		1,648
Fair value adjustments 10		(7,419	)		0		0
Total debt excluding short-term borrowings		$2,791,073			$2,432,762		$2,426,480
Less current maturities of long-term debt		5,230			5,246		425,300
Total long-term debt		$2,785,843			$2,427,516		$2,001,180
Estimated fair value of total long-term debt		$2,857,684			$2,559,059		$2,240,447

1	The effective interest rate for these notes is 6.85% , excluding the impact of the interest rate swap described in Note 6.
2	The effective interest rate for these notes is 7.73% .
3	Includes decreases for unamortized discounts, as follows: June 30, 2011 — $372 thousand, December 31, 2010 — $403 thousand and June 30, 2010 — $433 thousand. The effective interest rate for these notes is 10.31% , excluding the impact of the interest rate swap described in Note 6.
4	Includes decreases for unamortized discounts, as follows: June 30, 2011 — $1,543 thousand, December 31, 2010 — $1,609 thousand and June 30, 2010 — $1,671 thousand. The effective interest rate for these notes is 10.58%.
5	Includes decreases for unamortized discounts, as follows: June 30, 2011 — $122 thousand, December 31, 2010 — $271 thousand and June 30, 2010 — $320 thousand. The effective interest rate for these notes is 7.46%.
6	Includes decreases for unamortized discounts, as follows: June 30, 2011 — $325 thousand, December 31, 2010 — $342 thousand and June 30, 2010 — $359 thousand. The effective interest rate for these notes is 7.86%.
7	Includes decreases for unamortized discounts, as follows: June 30, 2011 — $74 thousand, December 31, 2010 — $227 thousand and June 30, 2010 — $281 thousand. The effective interest rate for these notes is 6.55%.
8	Includes decreases for unamortized discounts, as follows: June 30, 2011 — $139 thousand, December 31, 2010 — $148 thousand and June 30, 2010 — $156 thousand. The effective interest rate for these notes is 7.39%.
9	Includes decreases for unamortized discounts, as follows: June 30, 2011 — $646 thousand, December 31, 2010 — $676 thousand and June 30, 2010 — $679 thousand. The effective interest rate for these notes is 8.04%.
10	See Note 6 for additional information about our fair value hedging strategy.