Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2013

Schedule of Maturities Of Long-Term Debt


		Term Loan⁽¹⁾		MARAD Debt		2032 Notes⁽²⁾		Total

Less than one year	$	15,000	$	5,376	$	-	$	20,376
One to two years		18,750		5,644		-		24,394
Two to three years		30,000		5,926		-		35,926
Three to four years		30,000		6,222		-		36,222
Four to five years		202,500		6,532		-		209,032
Over five years		-		70,468		200,000		270,468
Total debt		296,250		100,168		200,000		596,418
Current maturities		(15,000)		(5,376)		-		(20,376)
Long-term debt, less current maturities		281,250		94,792		200,000		576,042
Unamortized debt discount⁽³⁾		-		-		(27,838)		(27,838)
Long-term debt	$	281,250	$	94,792	$	172,162	$	548,204

(1) Amount reflects the borrowings made in July 2013 (see “Credit Agreement” below).

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

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

Schedule Of Redemption Price By Maturity


Year		Redemption Price

2013		102.375%
2014 and thereafter		100.000%

Schedule of Deferred Financing Costs

		September 30, 2013						December 31, 2012
		Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net

Term Loans (mature July 2015) ⁽¹⁾	$	-	$	-	$	-	$	15,318	$	(11,595)	$	3,723
Revolving Credit Facility (matures July 2015) ⁽¹⁾		-		-		-		20,021		(12,466)		7,555
Term Loan (matures June 2018) ⁽²⁾		3,635		(182)		3,453		-		-		-
Revolving Credit Facility (matures June 2018) ⁽²⁾		13,272		(663)		12,609		-		-		-
2025 Notes (mature December 2025)		-		-		-		8,189		(8,189)		-
2032 Notes (mature March 2032)		3,759		(995)		2,764		4,251		(534)		3,717
Senior Unsecured Notes (mature January 2016) ⁽³⁾		-		-		-		10,643		(8,252)		2,391
MARAD Debt (matures February 2027)		12,200		(5,614)		6,586		12,200		(5,248)		6,952
Total deferred financing costs	$	32,866	$	(7,454)	$	25,412	$	70,622	$	(46,284)	$	24,338

(1) Relates to the term loans and revolving credit facility under our former credit agreement, which was terminated in June 2013.

(2) Relates to amounts allocated to the existing Term Loan and Revolving Credit Facility, which became effective in June 2013.

(3) In July 2013, we redeemed our remaining Senior Unsecured Notes. In connection with this redemption, we recorded a charge of $2.1 million to accelerate the remaining deferred financing costs associated with the original issuance of this debt.

Schedule of Interest Expense And Capitalized Interest


		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2013		2012		2013		2012

Interest expense ⁽¹⁾	$	9,416	$	12,720	$	35,971	$	40,660
Interest income		(271)		(228)		(903)		(569)
Capitalized interest		(2,560)		(1,207)		(6,816)		(2,684)
Net interest expense	$	6,585	$	11,285	$	28,252	$	37,407

(1) Interest expense of $2.8 million for the nine-month period ended September 30, 2013, and $7.1 million and $21.7 million for the three- and nine-month periods ended September 30, 2012, respectively, was allocated to ERT and is included in discontinued operations. Following the sale of ERT in February 2013, we ceased allocation of interest expense to ERT, which constitutes a discontinued operation.