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Redeemable Convertible Preferred Stock
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12 Months Ended |
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Dec. 31, 2011
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| Temporary Equity Disclosure [Abstract] | |
| Redeemable Convertible Preferred Stock | Redeemable Convertible Preferred Stock The Company originally issued 8.1 million shares of its 6.25% Redeemable Convertible Preferred Stock at a price of $50.00 per share (the liquidation preference per share). The holders of the 6.25% Redeemable Convertible Preferred Stock are entitled to receive cumulative dividends at the rate of 6.25% per annum payable on February 15, May 15, August 15 and November 15 of each year. The dividends were paid with approximately $19.5 million, $19.9 million and $19.9 million of cash for the years ended December 31, 2011, 2010 and 2009, respectively. The amortization of the issue costs on the 6.25% Redeemable Convertible Preferred Stock recorded in "dividends on preferred stock" was $0.9 million for each of the years ended December 31, 2011, 2010 and 2009. In January 2012, the Company exercised its right to convert all of the outstanding 6.25% Redeemable Convertible Preferred Stock. The conversion of such preferred stock into 8.3 million shares of common stock is expected to occur in February 2012. As of December 31, 2011 and 2010, the outstanding balance of the 6.25% Redeemable Convertible Preferred Stock was $305.0 million and $316.6 million, respectively. See note 20. |