4.	Long-Term Debt

Long-term debt as of April 30, 2012, July 31, 2011 and April 30, 2011 is summarized as follows (in thousands):


	Maturity (a)		April 30, 2012		July 31, 2011		April 30, 2011
Credit Facility Revolver		2016	$	—	$	—	$	—
Industrial Development Bonds		2020		41,200		41,200		41,200
Employee Housing Bonds		2027-2039		52,575		52,575		52,575
6.50% Notes (b)		2019		390,000		390,000		390,000
6.75% Notes		—		—		—		43,937
Other		2012-2029		7,101		7,968		8,124

Total debt				490,876		491,743		535,836
Less: Current maturities (c)				1,119		1,045		45,357

Long-term debt			$	489,757	$	490,698	$	490,479

(a)	Maturities are based on the Company's July 31 fiscal year end.

(b)

On April 25, 2011, the Company completed a private offering for $390.0 million of 6.50% Notes. Pursuant to the registration rights agreement executed as part of the offering of the 6.50% Notes, the Company agreed to file a registration statement for an exchange offer registered under the Securities Act of 1933. The registration statement was declared effective on November 16, 2011, and on November 17, 2011, the Company commenced its offer to exchange up to $390.0 million principal amount of newly issued 6.50% Notes, registered under the Securities Act of 1933, for a like principal amount of its outstanding privately placed 6.50% Notes. The exchange offer expired on December 16, 2011 and all of the 6.50% Notes were tendered and exchanged for the new substantially identical registered notes.

(c)	Current maturities represent principal payments due in the next 12 months.

Aggregate maturities for debt outstanding as of April 30, 2012 reflected by fiscal year are as follows (in thousands):


2012	$	288
2013		839
2014		509
2015		533
2016		244
Thereafter		488,463

Total debt	$	490,876

The Company incurred gross interest expense of $8.4 million and $8.5 million for the three months ended April 30, 2012 and 2011, respectively, of which $0.5 million and $0.4 million, respectively, was amortization of deferred financing costs. The Company had no capitalized interest during the three months ended April 30, 2012 and 2011. The Company incurred gross interest expense of $25.4 million and $25.6 million for the nine months ended April 30, 2012 and 2011, respectively, of which $1.5 million and $1.2 million, respectively, was amortization of deferred financing costs. The Company capitalized $0.1 million and $0.5 million of interest (related to real estate development) during the nine months ended April 30, 2012 and 2011, respectively.