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These excerpts taken from the GT 10-K filed Feb 18, 2009. Interest
Expense
Interest expense was $320 million in 2008, a decrease of
$130 million compared to $450 million in 2007. The
decrease related primarily to lower average debt levels due to
the repayment of our $300 million term loan due March 2011
in August 2007, the repayment of $175 million of
8.625% notes due 2011 and $140 million of
9% notes due 2015 in June 2007, and the exchange of
$346 million of our 4% convertible notes in the fourth
quarter of 2007 for shares of our common stock and a cash
payment. In addition, we repaid $200 million of floating
rate notes due 2011, $450 million of 11% notes due
2011, and $100 million of
63/8% notes
due 2008 during the first quarter of 2008. Also decreasing
interest expense was a decline in interest rates on variable
rate debt.
Interest
Expense
Interest expense was $450 million, an increase of
$3 million during 2007 as compared to 2006. Interest
expense in 2007 was adversely impacted by higher debt levels
incurred during the USW strike, but was favorably affected by a
reduction in outstanding debt following the end of the strike
and the early retirement of various debt obligations during 2007.
This excerpt taken from the GT 10-K filed Feb 14, 2008. Interest
Expense
Interest expense was $447 million, an increase of
$39 million during 2006 as compared to 2005. The increase
was primarily due to an increase in 2006 average debt levels due
to financing arrangements entered into partly as a result of the
USW strike.
This excerpt taken from the GT 10-K filed Feb 16, 2007. Interest
Expense
Interest expense was $411 million an increase of
$42 million in 2005 from $369 million in 2004,
primarily as a result of higher average interest rates, debt
levels and interest penalties.
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