v2.4.0.8
Debt Obligations (Tables)
 9 Months Ended
Sep. 30, 2013
Debt Disclosure [Abstract]  
Changes in Debt Obligations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2012

 

Additions

 

Payments, Conversions, Accretion and Other

 

September 30, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in millions)

2.50% convertible senior notes repaid August 15, 2013(1)

 

$
91 

 

$

 -

 

$
(91)

 

$

 -

4.00% senior unsecured notes due January 15, 2015 (net of discount)(2)

 

 
399 

 

 

 -

 

 

 -

 

 
399 

5.55% senior unsecured notes due January 15, 2020 (net of discount)(2)

 

 
598 

 

 

 -

 

 

 -

 

 
598 

5.25% senior unsecured notes due January 16, 2018 (net of discount)(2)

 

 
368 

 

 

 -

 

 

 -

 

 
368 

3.875% senior unsecured notes due June 7, 2021 (net of discount)(2)

 

 

 -

 

 
782 

 

 
29 

 

 
811 

$1.2 billion senior unsecured five-year credit facility(3):

 

 

 

 

 

 

 

 

 

 

 

 

$450 million senior unsecured term loan facility credit agreement due September 19, 2016 (average interest rate of 1.57% for the period January 1, 2013 through September 30, 2013)

 

 
394 

 

 

 -

 

 
(34)

 

 
360 

$750 million revolving credit commitment due September 19, 2016 (average interest rate of 1.37% for the period January 1, 2013 through September 30, 2013)

 

 
126 

 

 
120 

 

 
(64)

 

 
182 

Total debt obligations

 

 
1,976 

 

 
902 

 

 
(160)

 

 
2,718 

Less current portion

 

 
(136)

 

 

 -

 

 
91 

 

 
(45)

Total long-term debt obligations

 

$
1,840 

 

$
902 

 

$
(69)

 

$
2,673 

 

(1) See “2.50% Convertible Senior Notes” below for further discussion.

(2) See “Senior Unsecured Notes” below for further discussion.

(3) See “2011 Credit Facility” below for further discussion.

Interest Expense Recognized on Convertible Senior Notes in Condensed Consolidated Statements of Income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

 

 

2013

 

2012

 

2013

 

2012

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in millions)

Components of interest expense recognized on the 2013 Convertible Notes

 

 

 

 

 

 

 

 

 

 

 

 

Accretion of debt discount

 

$

 -

 

$
1 

 

$
2 

 

$
2 

Contractual interest

 

 

 -

 

 

 -

 

 
1 

 

 
2 

Total interest expense recognized on the 2013 Convertible Notes

 

$

 -

 

$
1 

 

$
3 

 

$
4