XML 66 R23.htm IDEA: XBRL DOCUMENT v2.4.1.9
SUBSEQUENT EVENTS
3 Months Ended
Mar. 31, 2015
SUBSEQUENT EVENTS [Abstract]  
SUBSEQUENT EVENTS

Note 18:  subsequent events

 

In April 2015, we redeemed $343,819,000 principal amount of debt as follows: $125,001,000 of 6.50% notes due 2016, $218,633,000 of 6.40% notes due 2017 and an additional $185,000 of 7.00% notes due 2018  ($127,303,000 of these 2018 notes were purchased in March). These debt redemptions were funded by a portion of the net proceeds of the March issuance of $400,000,000 of 4.50% senior notes due 2025, cash on hand and borrowings under our line of credit. The April 2015 debt redemptions cost $384,990,000, including a $41,153,000 premium above the principal amount of the notes and transaction costs of $18,000.  The premium reflects the make-whole cost of redeeming the 2016 and 2017 notes prior to maturity and the trading price of the 2018 notes relative to par. Additionally, we recognized a non-cash cost of $4,132,000 associated with the acceleration of unamortized discounts, deferred gains, deferred financing costs and amounts accumulated in OCI. The combined charge of $45,303,000 will be presented in the Condensed Consolidated Statement of Comprehensive Income as a component of interest expense.