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This excerpt taken from the S 10-K filed Feb 26, 2010.

11.    Derivative Instruments

During 2009 and 2008, we held two interest rate swap contracts which were based on 3-month LIBOR with a combined notional value of $600 million. We used these swaps as economic hedges of the interest rate risk related to a portion of our Senior Term Loan Facility. The interest rate swaps were used to reduce the variability of future interest payments on our LIBOR based debt. We were not holding these interest rate swap contracts for trading or speculative purposes. We did not apply hedge accounting to these swaps, therefore the gains and losses due to changes in fair value were reported in other income (expense), net in our consolidated statements of operations.

The following table sets forth information regarding our interest rate swap contracts (in thousands):

 

Type of

Derivative

   Notional
Amount
 

Maturity Date

 

Receive

Index Rate

   Pay
Fixed Rate
 

Swap

   $ 300,000   3/5/2010   3-month LIBOR    3.50

Swap

   $ 300,000   3/5/2011   3-month LIBOR    3.62

 

Nature of Activity:

   Year Ended
December 31,
2009
 

Periodic swap payment

   $ (13,915

Unrealized gain on undesignated interest rate swap contracts

     6,939   
        

Loss on undesignated swap contracts, net(1)

   $ (6,976
        

 

 

(1)

Included in Other income (expense), net in the consolidated statements of operations.

We computed the fair value of the swaps using an income approach whereby we estimate net cash flows and discount the cash flows at a risk-based rate. See Note 12, Fair Value, for further information. We monitor the risk of our nonperformance as well as that of our counterparties on an ongoing basis.

At December 31, 2008, the swap fair value of $21.6 million was reported in other long-term liabilities on our consolidated balance sheet. During the fourth quarter of 2009, we terminated the swap contracts and paid the swap counterparties $18.4 million which consisted of $14.7 million mark to market losses and $3.7 million accrued interest.

This excerpt taken from the S 8-K filed Sep 18, 2006.

Derivative Instruments

The fair value of these instruments is based on estimates using available market information and appropriate valuation methodologies. See note 12 for additional information.

This excerpt taken from the S 10-K filed Mar 31, 2006.

Derivative Instruments

The fair value of these instruments is based on estimates using available market information and appropriate valuation methodologies. See note 12 for additional information.

This excerpt taken from the S 10-K filed Mar 7, 2006.

Derivative Instruments

The fair value of these instruments is based on estimates using available market information and appropriate valuation methodologies. See note 12 for additional information.

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