Debt Issuances And Redemptions

3 Months Ended

Oct. 01, 2011

Debt Issuances And Redemptions [Abstract]

Debt Issuances And Redemptions

5. Debt Issuances and Redemptions

On September 7, 2010, the corporation completed a tender offer for any and all of its 6 ¹/4 % Notes due September 15, 2011, of which $1.11 billion aggregate principal amount was outstanding. At the time of expiration of the tender offer, $653.3 million of the 6 ¹/4% notes had been validly tendered. The corporation recognized a $30 million charge associated with the early extinguishment of this debt, which is reported on the Debt extinguishment costs line of the Consolidated Income Statement. On October 8, 2010, the corporation redeemed the remaining $456.7 million of aggregate principal outstanding of the 6 ¹/4% Notes, which resulted in $25 million of additional debt extinguishment charges in the second quarter of 2011.