Long-Term Debt

Long-term debt consisted of the following components:



	March 31, 2012			December 31, 2011
	(In millions)
Senior Secured Credit Facility, due October 2017, at a variable interest rate of 4.25% as of March 31, 2012 and December 31, 2011	$	612.0		$	682.5
Senior Notes due October 2018, at a fixed rate of 9.5%	760.8			765.8
Discount	(27.4		)	(29.5		)
Total long-term debt	1,345.4			1,418.8
Less current maturities	(7.4		)	(7.4		)
Long-term debt, less current maturities	$	1,338.0		$	1,411.4

For a description of the respective instruments, refer to Note 8 of the Notes to Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011.

Debt Modification Costs

On February 25, 2011, the Company entered into Amendment No. 1 (the ''Amendment'') to the Credit Agreement dated as of October 8, 2010. For a description of the Amendment, refer to Note 8 of the Notes to Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011. Fees of $4.1 million paid to third parties in connection with the Amendment were recorded as “Debt modification costs” in the Consolidated Statement of Income for the three months ended March 31, 2011.

Loss on Extinguishment of Debt

During the three months ended March 31, 2012 and 2011, the Company recognized the following losses on the extinguishment of debt:



Instrument Repaid/Retired	Face Amount Repaid/Retired		Cash Paid		Loss ⁽¹⁾
	(In millions)
Term Loans	$	70.5	$	70.5	$	1.9
Senior Notes	5.0		5.5		0.7
Three months ended March 31, 2012	75.5		76.0		2.6

Term Loans	$	110.0	$	110.0	$	2.7
Senior Notes	32.3		35.3		4.2
Three months ended March 31, 2011	$	142.3	$	145.3	$	6.9

⁽¹⁾ Including write-off of the discount and deferred financing costs related to the debt retired.

Compliance with Covenants and Restrictions

The Company was in compliance with all the covenants and restrictions related to its Senior Secured Credit Facility and Senior Notes as of March 31, 2012.