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Long-Term Debt (Tables) | 12 Months Ended
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Dec. 31, 2011
Long-Term Debt [Abstract] |
Schedule of long-term debt instruments | Long-term debt consists of the following:
|  | December 31, 2011 |  |  | December 31, 2010 |
Credit facility |  | $ | 155,000 |  |  | $ | 240,000 |
Exchangeable unsecured notes, due 2102 |  |  | 95,042 |  |  |  | 95,042 |
Convertible senior debentures, due 2040 |  |  | 98,463 |  |  |  | 96,640 |
Convertible senior debentures, due 2041 |  |  | 50,549 |  |  |  | - |
|  |  | 399,054 |  |  |  | 431,682 |
Less current portion |  |  | - |  |  |  | - |
|  | $ | 399,054 |  |  | $ | 431,682 |
Liability and equity components of convertible debt due 2040 | The carrying values of the liability and equity components of the convertible debentures due 2040 are reflected in the Company’s consolidated balance sheets as follows:
|  | December 31, 2011 |  |  | December 31, 2010 |
Liability component: |  |  |  |  |  |
Principal amount of the debentures |  | $ | 275,000 |  |  | $ | 275,000 |
Unamortized discount |  |  | (177,131 | ) |  |  | (178,679 | )
Embedded derivative |  |  | 594 |  |  |  | 319 |
Carrying value of liability component |  | $ | 98,463 |  |  | $ | 96,640 |
Equity component - net carrying value |  | $ | 110,094 |  |  | $ | 110,094 |
Convertible debt due 2040, interest expense | Interest expense related to the convertible debentures due 2040 is reflected on the consolidated statements of operations as follows:
|  | Years ended December 31, |
|  | 2011 |  |  | 2010 |
Contractual coupon interest |  | $ | 6,188 |  |  | $ | 773 |
Non-cash amortization of debt discount |  |  | 1,548 |  |  |  | 188 |
Non-cash amortization of deferred financing costs |  |  | 88 |  |  |  | 11 |
Non-cash change in value of derivative liability |  |  | 275 |  |  |  | (55 | )
Total interest expense related to the debentures |  | $ | 8,099 |  |  | $ | 917 |
Aggregate annual maturities of long-term debt | Aggregate annual maturities of long-term debt, based on the terms stated in the respective agreements, are as follows:
2011 |  | $ | - |
2012 |  |  | - |
2013 |  |  | - |
2014 |  |  | - |
2015 |  |  | 155,000 |
Thereafter |  |  | 520,042 |
Liability and equity components of convertible debt due 2041. | The carrying values of the liability and equity components of the convertible debentures due 2041 are reflected in the Company’s consolidated balance sheet as follows:
|  | December 31, 2011 |
Liability component: |  |  |
Principal amount of the debentures |  | $ | 150,000 |
Unamortized discount |  |  | (99,843 | )
Embedded derivative |  |  | 392 |
Carrying value of liability component |  | $ | 50,549 |
Equity component - net carrying value |  | $ | 62,246 |
Convertible debt due 2041, interest expense | Interest expense related to the convertible debentures due 2041 is reflected on the consolidated statements of operations as follows:
|  | Year ended |
|  | December 31, 2011 |
Contractual coupon interest |  | $ | 2,128 |
Non-cash amortization of debt discount |  |  | 498 |
Non-cash amortization of deferred financing costs |  |  | 29 |
Non-cash change in value of derivative liability |  |  | 181 |
Total interest expense related to the debentures |  | $ | 2,836 |

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- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6584090&loc=d3e28878-108400 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644 Reference 9: 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 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 + Details
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- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 470 -SubTopic 10 -Publisher FASB -Number -Article -Subparagraph -Name Accounting Standards Codification -Paragraph 1 -Section 50 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
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