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CONVERTIBLE SENIOR NOTES

6 Months Ended

Jun. 30, 2011

10 - CONVERTIBLE SENIOR NOTES

The Company issued $125,000 of 5.0% Convertible Senior Notes on July 27, 2010 (the “2010 Notes”). The Indenture includes customary agreements and covenants by the Company, including with respect to events of default.

The following tables provide additional information about the Company’s 2010 Notes.

	June 30, 2011		December 31, 2010
Carrying amount of the equity component (additional paid-in capital)	$	24,375	$	24,375
Principal amount of the 2010 Notes	125,000		125,000
Unamortized discount of the liability component	20,739		22,691
Net carrying amount of the liability component	104,262		102,309

	For the three months ended June 30, 2011			For the six months ended June 30, 2011
Effective interest rate on liability component	10.01		%	10.01		%
Cash interest expense recognized	$	1,563		$	3,093
Non-cash interest expense recognized	986			1,952
Non-cash deferred financing costs included in interest expense	179			357

The remaining period over which the unamortized discount will be recognized is 4.1 years. As of June 30, 2011, the if-converted value of the 2010 Notes does not exceed their principal amount.

The 2010 Notes have been classified as a noncurrent liability on the consolidated balance sheet as of June 30, 2011 because the Company can settle the principal amount of the notes with shares, cash, or a combination thereof at its discretion.