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Borrowings (Tables)
 12 Months Ended
Dec. 31, 2012
Components of Long-Term Debt

The components of long-term debt at year end are as follows:

 

    2012     2011  
    (Dollars in thousands)  

Senior Credit Facility:

    

Term loan facility, at a rate of 2.75% at December 31, 2012, due 10/1/2014

   $ 375,000      $ 375,000   

3.875% Convertible Senior Subordinated Notes due 2017

     400,000        400,000   

6.875% Senior Subordinated Notes due 2019

     250,000        250,000   
 

 

 

    

 

 

  
    1,025,000        1,025,000   

Less: Unamortized debt discount on 3.875% Convertible Senior Subordinated Notes due 2017

     (59,720 )      (70,191 ) 
 

 

 

    

 

 

  
  $ 965,280      $ 954,809   
 

 

 

    

 

 

  
Interest Expense Amounts Related to Convertible Notes

The following table provides interest expense amounts related to the Convertible Notes for the periods presented:

 

(in millions)    Year Ended
December 31,
2012		      Year Ended
December 31,
2011		      Year Ended
December 31,
2010		  

Interest cost related to contractual interest coupon

    $ 15.5       $ 15.5       $ 6.2   

Interest cost related to amortization of the discount

    $ 10.5       $ 9.7       $ 3.8   
Carrying Value of Convertible Notes

The following table provides the carrying value of the Convertible Notes as of December 31, 2012 and December 31, 2011:

 

(in millions)    December 31,
2012		     December 31,
2011		  

Principal amount of the Convertible Notes

    $ 400.0      $ 400.0   

Unamortized discount

      (59.7 )      (70.2 ) 
  

 

 

    

 

 

  

Net carrying amount

    $ 340.3      $ 329.8   
  

 

 

    

 

 

  
Fair Value of Debt

The following table provides the fair value of the Company’s debt by fair value hierarchy level (see Note 11, “Fair value measurement,” for further information) as of December 31, 2012:

 

     Fair value of debt  
     (Dollars in
thousands)		  

Level 1

    $ 782,377   

Level 2

      382,634   
  

 

 

  

Total

    $ 1,165,011   
  

 

 

  
Aggregate Amounts of Long-Term Debt

As of December 31, 2012, the aggregate amounts of long-term debt, demand loans and debt under the Company’s securitization program that will mature during each of the next four fiscal years and thereafter were as follows:

 

     (Dollars in thousands)  

2013

    $ 4,700   

2014

      375,000   

2015

      —   

2016

      —   

2017 and thereafter

      650,000