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Long-Term Debt | 9 Months Ended
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Mar. 31, 2012
Long-term Debt, Unclassified [Abstract] |
Long-Term Debt | LONG-TERM DEBT Long-term debt Long-term debt is comprised of the following:
| As of March 31, 2012 |  | As of June 30, 2011
Long-term debt |  |  |
Term loan | $ | 592,500 |  |  | $ | 285,026 |
Mortgage | 11,852 |  |  | 12,552 |
| 604,352 |  |  | 297,578 |
Less: |  |  |
Current portion of long-term debt |  |  |
Term loan | 30,000 |  |  | 2,993 |
Mortgage | 11,852 |  |  | 12,552 |
| 41,852 |  |  | 15,545 |
Non current portion of long-term debt | $ | 562,500 |  |  | $ | 282,033 |
Term Loan and Revolver On November 9, 2011, we and certain of our subsidiaries entered into a $700 million Amended and Restated Credit Agreement (the Agreement) with certain financial institutions. The Agreement provides for a $600 million term loan facility (the Term Loan) and a $100 million committed revolving credit facility (the Revolver). On November 9, 2011, we borrowed $600 million under the Term Loan. The Term Loan has a 5 year term and repayments made under the Term Loan are equal to 1.25% of the original principal amount at each quarter for the first 2 years, 1.88% for years 3 and 4 and 2.5% for year 5. Our first quarterly principal payment of $7.5 million was paid during the third quarter of Fiscal 2012. The Term Loan bears interest at a floating rate of LIBOR plus 2.50%. For the three and nine months ended March 31, 2012, we recorded interest expense of $4.3 million and $6.8 million, respectively, relating to the Term Loan. For the three and nine months ended March 31, 2012, we recorded interest on our old term loan (up until November 9, 2011) of nil and approximately $2.7 million, respectively (three and nine months ended March 31, 2011—$1.8 million and $5.5 million, respectively). The Revolver has a 5 year term with no fixed repayment date prior to the end of the term. As of March 31, 2012, we have not drawn any amounts on the Revolver. On November 9, 2011, we used a portion of the proceeds from the Term Loan to repay all of our previously outstanding credit facility debt in the amount of $332.9 million. Mortgage In December 2005, we entered into a 5 year mortgage agreement with the bank. The principal amount of the mortgage was for Canadian $15.0 million and was originally scheduled to mature on January 1, 2011. During Fiscal 2011, the mortgage was extended and it is now considered an "open" mortgage in which we may pay all or a portion of it prior to July 1, 2012. We also have the option of renewing the mortgage beyond July 1, 2012, without penalty. The principal amount of the mortgage did not change upon extension, however, interest now accrues monthly at a variable rate of Canadian prime plus 0.50% (instead of a fixed rate of 5.25% per annum). Principal and interest are payable in monthly installments of Canadian $0.1 million with a final lump sum principal payment due on maturity. The mortgage continues to be secured by a lien on our headquarters in Waterloo, Ontario, Canada. As of March 31, 2012, the carrying value of the mortgage was $11.9 million (June 30, 2011—$12.6 million). As of March 31, 2012, the carrying value of the Waterloo building that secures the mortgage was $16.4 million (June 30, 2011—$15.4 million). For the three and nine months ended March 31, 2012, we recorded interest expense of $0.1 million and $0.3 million, respectively, relating to the mortgage (three and nine months ended March 31, 2011—$0.1 million and $0.4 million, respectively).

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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