Convertible Debt and Credit Facility (Tables)

3 Months Ended

Mar. 31, 2012

Convertible Debt and Credit Facility [Abstract]

Long-term debt and equity component

As of March 31, 2012 and December 31, 2011, long-term debt and the equity component (recorded in additional paid in capital, net of income tax benefit), determined in accordance with the accounting guidance for convertible debt, comprised the following (in thousands):

	March 31, 2012			December 31, 2011
Outstanding debt
Principal amount	$	93,100		$	93,100
Unamortized discount		(2,836	)		(3,806	)
Net carrying amount		90,264			89,294
Current portion of outstanding debt		90,264			89,294
Noncurrent  portion of outstanding debt	$	-		$	-
Equity component, net of income tax benefit	$	16,399		$	16,399

Interest expense, Convertible Notes

The discount on the liability component of long-term debt is being amortized using the effective interest method based on an annual effective rate of 7.5%, which represented the market interest rate for similar debt without a conversion option on the issuance date, through December 2012, which coincides with the first date that holders of the Notes can exercise their put option as discussed below. Interest expense on the Notes, excluding capitalized interest, for the three months ended March 31, 2012 and 2011 included the following (in thousands):

	Three Months Ended March 31,
	2012		2011
Contractual interest coupon	$	665	$	662
Non-cash amortization of discount on the liability component		971		892
Non-cash amortization of debt issuance costs		98		92
	$	1,734	$	1,646