5. Long-Term Debt

Long-term debt consists of the following components:



	September 30, 2011			December 31, 2010
	(In millions)
Senior Secured Credit Facility, due October 2017, at a variable interest rate of 4.25% and 6.0% as of September 30, 2011 and December 31, 2010, respectively	$	734.0		$	844.0
Senior Notes due October 2018, at a fixed rate of 9.5%	785.3			825.0
Discount	(31.5		)	(28.5		)
Total long-term debt	1,487.8			1,640.5
Less current maturities	(7.4		)	(9.0		)
Long-term debt, less current maturities	$	1,480.4		$	1,631.5

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, 2010.

Amendment of Credit Agreement

On February 25, 2011, the Company entered into Amendment No. 1 (the ‘‘Amendment’’) to the Credit Agreement dated as of October 8, 2010 (the “Credit Agreement”) under which a senior secured credit facility (“Credit Facility”) was established among the Company, lenders and the agents named therein. Pursuant to the Amendment, the interest rate margin applicable to LIBOR-based term loans made under the Credit Facility (“Term Loans”) was reduced from 4.50% to 3.00%, and the interest rate floors used to determine the LIBOR and Base Rate reference rates for Term Loans was reduced from 1.50% to 1.25% for LIBOR-based Term Loans and from 2.50% to 2.25% for Base Rate-denominated Term Loans. In addition, the Amendment increased the lender commitments under the Company’s revolving credit facility (the “Revolving Credit Facility”) available under the Credit Facility from $50 million to $75 million. The Amendment also modified certain restrictive covenants of the Credit Agreement, including those relating to repurchases of other debt securities, permitted acquisitions and payments on equity.

The Company paid $12.3 million in fees and costs related to the Amendment. $7.4 million in fees were paid to lenders and recorded as additional discount on debt and $0.8 million of costs related to the increase in the Revolving Credit Facility were recorded as deferred financing costs. Fees paid to third parties of $4.1 million were recorded as “Debt modification costs” in the Consolidated Statements of Income for the nine months ended September 30, 2011.

Loss (Gain) on Extinguishment of Debt

During the nine months ended September 30, 2011 and September 30, 2010, the Company recognized the following losses and gains on the extinguishment of debt:



Quarter Ended	Instrument (1)	Face Amount Retired/Repaid		Cash Paid		Loss (Gain)(2)
		(In millions)
March 2011	Term Loans	$	110.0	$	110.0	$	2.7
March 2011	Senior Notes	32.3		35.3		4.2
June 2011	Senior Notes	7.5		8.2		1.0
Nine months ended September 30, 2011		$	149.8	$	153.5	$	7.9

March 2010	Class A-2-II-X Notes	$	48.7	$	43.8	$	(3.5	)
June 2010	Class A-2-II-X Notes	19.5		18.0		(1.1		)
Nine months ended September 30, 2010		$	68.2	$	61.8	$	(4.6	)

(1) 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, 2010.

(2) 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 Credit Facility and Senior Notes as of September 30, 2011.