Convertible Notes

3 Months Ended

Mar. 31, 2013

The Company’s convertible notes are shown in the following table:



(Dollars in thousands)	As of March 31, 2013			As of December 31, 2012
5% Convertible Senior Notes due 2014 (the “2014 Notes”)	$	172,500		$	172,500
Unamortized discount	(21,013		)	(24,944		)
Total convertible notes	$	151,487		$	147,556
Less current portion	—			—
Total long-term convertible notes	$	151,487		$	147,556

Interest expense related to the notes for the three months ended March 31, 2013 and 2012 was as follows:



	Three Months Ended
	March 31,
	2013		2012
	(In thousands)
2014 Notes coupon interest at a rate of 5%	$	2,157	$	2,157
2014 Notes amortization of discount and debt issuance costs at an additional effective interest rate of 11.7%	4,089		3,510
Total interest expense on convertible notes	$	6,246	$	5,667

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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