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Debt and Credit Arrangements (Tables)
 9 Months Ended
Sep. 30, 2012
Debt and Credit Arrangements [Abstract]  
Summary of Carrying Amounts and Fair Values of Long-term Debt
A summary of the carrying amounts and fair values of our long-term debt is listed below.
 
Effective
Interest Rate
 
September 30,
2012
 
December 31,
2011
Book
Value
 
Fair
Value 1
 
Book
Value
 
Fair
Value 1
6.25% Senior Unsecured Notes due 2014 (less unamortized
discount of $0.2)
6.29%
 
$
353.1

 
$
379.8

 
$
354.3

 
$
374.5

10.00% Senior Unsecured Notes due 2017 (less unamortized
discount of $8.4)
10.38%
 
591.6

 
672.0

 
590.6

 
690.0

4.00% Senior Notes due 2022 (less unamortized
discount of $3.0)
4.13%
 
247.0

 
261.0

 
0.0

 
0.0

4.75% Convertible Senior Notes due 2023 (plus unamortized
premium of $1.0)
3.50%
 
201.0

 
220.7

 
202.7

 
220.5

4.25% Convertible Senior Notes due 2023
 
 
0.0

 
0.0

 
403.0

 
405.5

Other notes payable and capitalized leases
 
 
87.5

 
84.0

 
65.1

 
 
Total long-term debt
 
 
1,480.2

 
 
 
1,615.7

 
 
Less: current portion 2
 
 
217.1

 
 
 
404.8

 
 
Long-term debt, excluding current portion
 
 
$
1,263.1

 
 
 
$
1,210.9

 
 
 
1 
See Note 11 for information on the fair value measurement of our long-term debt.
2 
On March 15, 2013, holders of our 4.75% Convertible Senior Notes due 2023 (the “4.75% Notes”) may require us to repurchase their notes for cash at par, and accordingly, we included these notes in the current portion of long-term debt on our September 30, 2012 unaudited Consolidated Balance Sheet. The 4.75% Notes are also redeemable in whole or in part at our option beginning March 15, 2013. Any 4.75% Notes neither repurchased on March 15, 2013 nor called for redemption by us will be reclassified to long-term debt. We included our 4.25% Convertible Senior Notes due 2023 (the “4.25% Notes”) in the current portion of long-term debt on our December 31, 2011 Consolidated Balance Sheet because holders of the 4.25% Notes had a repurchase option on March 15, 2012 for cash at par. The 4.25% Notes were retired in the first quarter of 2012.
Schedule of Interest Rate Swap Agreements
The following table presents the fair value of our interest rate swap agreements on our unaudited Consolidated Balance Sheets.
Derivative liabilities
 
Classification
 
September 30,
2012
 
December 31,
2011
Interest rate swap agreements
 
Accrued liabilities
 
$
22.3

 
$
0.0


The following table presents the effect of our interest rate swap agreements on our unaudited Consolidated Statements of Comprehensive Income and our unaudited Consolidated Statements of Operations.
 
 
 
 
Three months ended
September 30,
 
Nine months ended
September 30,
 
 
Classification
 
2012
 
2011
 
2012
 
2011
Loss recognized in other comprehensive income
(effective portion)
 
Other comprehensive income
 
$
(3.6
)
 
$
0.0

 
$
(22.2
)
 
$
0.0

Loss recognized in earnings (ineffective portion)
 
Other income, net
 
0.0

 
0.0

 
(0.1
)
 
0.0

Amount reclassified from accumulated other
comprehensive loss into earnings 1
 
 
 
0.0

 
0.0

 
0.0

 
0.0

 
1 
As of September 30, 2012, the estimated amount of deferred net losses that is reported in accumulated other comprehensive loss that is expected to be reclassified into earnings within the next twelve months is $0.7. This expectation is based on the anticipated timing of the hedged transact