NONCASH CONVERTIBLE DEBT CONVERSION CHARGE
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2011
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NONCASH CONVERTIBLE DEBT CONVERSION CHARGE [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||
NONCASH CONVERTIBLE DEBT CONVERSION CHARGE | NONCASH CONVERTIBLE DEBT CONVERSION CHARGE Noncash convertible debt conversion charge consisted of the following (amounts in thousands):
In the first quarter of 2011, the Company closed an Exchange Agreement with a note holder of its 5.625% convertible senior subordinated notes (convertible notes), pursuant to which such holder converted approximately $59.6 million in aggregate principal amount of the Convertible Notes into approximately 6.6 million shares of the Company's common stock, plus a payment for the accrued and unpaid interest. In connection with the exchange, the Company recognized a noncash charge of $16.1 million in accordance with ASC 470-20 Debt - Debt with Conversion and Other Options. |