Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2012

Derivative Instruments Interest Rate Swap Agreements

The major terms of the interest rate swap agreements as of September 30, 2012 are as follows:


Effective Date	Notional Amount		Fixed Rate Paid			Variable Rate Received as of September 30, 2012			Next Reset Date	Maturity Date
	(In millions)
April 25, 2011	$	250.0		1.351	%		0.217	%	October 25, 2012	January 25, 2015
April 25, 2011		250.0		1.347	%		0.217	%	October 25, 2012	January 25, 2015
April 25, 2011		250.0		1.350	%		0.217	%	October 25, 2012	January 25, 2015
January 25, 2011		1,000.0		3.068	%		0.217	%	October 25, 2012	January 25, 2015
April 25, 2011		1,000.0		3.150	%		0.217	%	October 25, 2012	January 25, 2015
January 25, 2011		1,000.0		3.750	%		0.217	%	October 25, 2012	January 25, 2015
April 25, 2011		1,000.0		3.264	%		0.217	%	October 25, 2012	January 25, 2015
January 25, 2011		1,000.0		3.814	%		0.217	%	October 25, 2012	January 25, 2015

Fair Values of Derivative Instruments

The following table represents the fair values of derivative instruments in the consolidated condensed balance sheets as of September 30, 2012 and December 31, 2011:

Asset Derivatives

Liability Derivatives

September 30, 2012

December 31, 2011

September 30, 2012

December 31, 2011

(In millions)

Balance
Sheet
Location

Fair Value

Balance
Sheet
Location

Fair Value

Balance
Sheet
Location

Fair Value

Balance
Sheet
Location

Fair Value

Derivatives designated as hedging instruments

Interest rate caps

Deferred
charges and
other

—

Deferred
charges and
other

—

Derivatives not designated as hedging instruments

Interest rate swaps

Deferred credits
and other

(347.0

)

Deferred
credits and
other

(336.1

)

Interest rate caps

Deferred
charges and
other

Total derivatives

(347.0

)

(336.1

)

*	Amount rounds to zero

Effect of Derivative Instruments in Consolidated Statements of Comprehensive Loss

The following table represents the effect of derivative instruments in the consolidated condensed statements of comprehensive loss for the quarters ended September 30, 2012 and 2011 for amounts transferred into or out of AOCL:


(In millions)	Amount of (Gain) or Loss Recognized in AOCL (Effective Portion)				Location of (Gain) or Loss Reclassified From AOCL Into Net Loss (Effective Portion)		Amount of (Gain) or Loss Reclassified from AOCL into Net Loss (Effective Portion)				Location of (Gain) or Loss Recognized in Net Loss (Ineffective Portion)		Amount of (Gain) or Loss Recognized in Net Loss (Ineffective Portion)
Derivatives designated as hedging instruments	Quarter Ended Sept. 30, 2012		Quarter Ended Sept. 30, 2011				Quarter Ended Sept. 30, 2012		Quarter Ended Sept. 30, 2011				Quarter Ended Sept. 30, 2012			Quarter Ended Sept. 30, 2011
Interest rate contracts	$	—	$	72.6		Interest expense	$	6.9	$	40.5		Interest expense	$	—		$	(78.7	)

(In millions)													Amount of (Gain) or Loss Recognized in Net Loss
Derivatives not designated as hedging instruments											Location of (Gain) or Loss Recognized in Net Loss		Quarter Ended Sept. 30, 2012			Quarter Ended Sept. 30, 2011
Interest rate contracts												Interest expense	$	(6.2	)	$	6.3

The following table represents the effect of derivative instruments in the consolidated condensed statements of comprehensive loss for the nine months ended September 30, 2012 and 2011 for amounts transferred into or out of AOCL:


(In millions)	Amount of (Gain) or Loss Recognized in AOCL (Effective Portion)				Location of (Gain) or Loss Reclassified From AOCL Into Net Loss (Effective Portion)		Amount of (Gain) or Loss Reclassified from AOCL into Net Loss (Effective Portion)				Location of (Gain) or Loss Recognized in Net Loss (Ineffective Portion)		Amount of (Gain) or Loss Recognized in Net Loss (Ineffective Portion)
Derivatives designated as hedging instruments	Nine Months Ended Sept. 30, 2012		Nine Months Ended Sept. 30, 2011				Nine Months Ended Sept. 30, 2012		Nine Months Ended Sept. 30, 2011				Nine Months Ended Sept. 30, 2012		Nine Months Ended Sept. 30, 2011
Interest rate contracts	$	—	$	74.4		Interest expense	$	21.2	$	59.8		Interest expense	$	—	$	(74.3	)

(In millions)													Amount of (Gain) or Loss Recognized in Net Loss
Derivatives not designated as hedging instruments											Location of (Gain) or Loss Recognized in Net Loss		Nine Months Ended Sept. 30, 2012		Nine Months Ended Sept. 30, 2011
Interest rate contracts												Interest expense	$	10.9	$	11.9

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References+ Details

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References+ Details

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

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