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Long-Term Debt (Tables)
 3 Months Ended
Mar. 31, 2013
Long-Term Debt [Abstract]  
Schedule of Maturities Of Long-Term Debt

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Term
Loan (1)

 

Revolving Credit Facility (1)

 

Senior Unsecured Notes

 

MARAD Debt

 

2032
Notes (2)

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less than one year

$
5,000 

$

 -

$

 -

$
5,247 

$

 -

$
10,247 

 

One to two years

 
5,000 

 

 -

 

 -

 
5,508 

 

 -

 
10,508 

 

Two to three years

 
62,299 

 
78,100 

 
274,960 

 
5,783 

 

 -

 
421,142 

 

Three to four years

 

 -

 

 -

 

 -

 
6,072 

 

 -

 
6,072 

 

Four to five years

 

 -

 

 -

 

 -

 
6,375 

 

 -

 
6,375 

 

Over five years

 

 -

 

 -

 

 -

 
73,774 

 
200,000 

 
273,774 

 

Total debt

 
72,299 

 
78,100 

 
274,960 

 
102,759 

 
200,000 

 
728,118 

 

Current maturities

 
(5,000)

 

 -

 

 -

 
(5,247)

 

 -

 
(10,247)

 

Long-term debt, less current maturities

 
67,299 

 
78,100 

 
274,960 

 
97,512 

 
200,000 

 
717,871 

 

Unamortized debt discount (3)

 

 -

 

 -

 

 -

 

 -

 
(30,410)

 
(30,410)

 

Long-term debt

$
67,299 

$
78,100 

$
274,960 

$
97,512 

$
169,590 

$
687,461 

 

 

(1) Amounts reflect our remaining Term Loan debt.  In February 2013, we repaid $293.9 million of our Term Loan debt and $24.5 million under our Revolving Credit Facility with the after-tax proceeds from the sale of ERT.

 

(2) Beginning in March 2018, the holders of these Convertible Senior Notes may require us to repurchase these notes or we may at our own option elect to repurchase notes. These notes will mature in March 2032.

 

(3) The notes will increase to their principal amount through accretion of non-cash interest charges through March 2018 for the Convertible Senior Notes due 2032.

Schedule Of Redemption Price By Maturity

 

 

 

Year

 

Redemption Price

 

 

 

2013

 
102.375% 

2014 and thereafter

 
100.000% 

 

Schedule of Deferred Financing Costs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2013

 

December 31, 2012

 

 

 

Gross Carrying Amount

 

Accumulated Amortization

 

Net

 

Gross Carrying Amount

 

Accumulated Amortization

 

Net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Term Loans (mature July 2015)

$
15,325 

$
(14,669)

$
656 

$
15,318 

$
(11,595)

$
3,723 

 

Revolving Credit Facility (matures July 2015)

 
20,046 

 
(13,225)

 
6,821 

 
20,021 

 
(12,466)

 
7,555 

 

2025 Notes (mature December 2025)

 

 -

 

 -

 

 -

 
8,189 

 
(8,189)

 

 -

 

2032 Notes (mature March 2032)

 
3,759 

 
(687)

 
3,072 

 
4,251 

 
(534)

 
3,717 

 

Senior Unsecured Notes (mature January 2016)

 
10,643 

 
(8,402)

 
2,241 

 
10,643 

 
(8,252)

 
2,391 

 

MARAD Debt (matures February 2027)

 
12,200 

 
(5,370)

 
6,830 

 
12,200 

 
(5,248)

 
6,952 

 

Total deferred financing costs

$
61,973 

$
(42,353)

$
19,620 

$
70,622 

$
(46,284)

$
24,338 

 

 

Schedule of Interest Expense And Capitalized Interest

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2013

 

2012

 

 

 

 

 

 

 

Interest expense

$
12,578 

$
15,244 

 

Interest income

 
(316)

 
(288)

 

Capitalized interest

 
(1,939)

 
(479)

 

Interest expense, net

$
10,323 

$
14,477