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Long Term Debt (Narrative) (Details) (USD $)
Share data in Millions, except Per Share data, unless otherwise specified |
1 Months Ended | 12 Months Ended |
|---|---|---|
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May 31, 2011
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Jun. 26, 2011
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| Net proceeds from the sale of convertible senior notes | $ 835,500,000 | |
| Allocated to deferred issuance costs | 13,700,000 | |
| Proceeds from sale of warrants | 133,830,000 | |
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0.50% Convertible Senior Notes Due 2016
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| Aggregate principal amount | 450,000,000 | |
| Initial conversion rate of common stock shares | 15.8687 | |
| Principal amount of convertible debt conversion increments | 1,000 | |
| Convertible senior notes principal amount of initial conversion price per share | 63.02 | 63.02 |
| Principal amount of the liability component | 373,800,000 | |
| Convertible debt liability component, discount rate | 4.29% | |
| Effective interest rate on the liability component | 4.29% | |
| Remaining life for amortized bond discount | 74,400,000 | |
| Terms and conditions for holders convert notes | 2016 Notes may be converted at any time prior to the close of business on the business day immediately preceding February 15, 2016, at the option of the holder, only under the following circumstances: 1) during the five business-day period after any ten consecutive trading-day period (the "measurement period") in which the trading price per $1,000 principal amount of 2016 notes for each day of such measurement period was less than 98% of the product of the last reported sale price of the Company's common stock and the applicable conversion rate on each such trading day; 2) during any fiscal quarter commencing after the fiscal quarter ending September 25, 2011, if the last reported sale price of the Company's common stock for 20 or more trading days in a period of 30 consecutive trading days ending on the last trading day of the immediately preceding fiscal quarter is greater than or equal to 130% of the conversion price in effect on the last trading day of the immediately preceding fiscal quarter; or 3) upon the occurrence of specified corporate events. On and after February 15, 2016 until the close of business on the second scheduled trading day immediately preceding the maturity date of May 15, 2016, holders may convert their notes at any time, regardless of the foregoing circumstances. Upon conversion, a holder will receive the conversion value of the 2016 Notes to be converted equal to the conversion rate multiplied by the volume weighted average price of the Company's common stock during a specified period following the conversion date. The conversion value of each 2016 Note will be paid in: 1) cash equal to the principal amount of the note, and 2) to the extent the conversion value exceeds the principal amount of the note, common stock (plus cash in lieu of any fractional shares of common stock). The conversion price will be subject to adjustment in some events but will not be adjusted for accrued interest. Upon a "fundamental change" at any time, as defined, the Company will in some cases increase the conversion rate for a holder who elects to convert its 2016 Notes in connection with such fundamental change. In addition, the holders may require the Company to repurchase for cash all or a portion of their notes upon a "designated event" at a price equal to 100% of the principal amount of the notes being repurchased plus accrued and unpaid interest, if any. |
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| Percentage of principal amounts being repurchased | 100.00% | |
| Annual interest rate paid by cash semi-annually | 0.50% | |
| Cost of convertible bond hedge | 76,200,000 | |
| Convertible bond hedge at inception of the transaction on stockholders equity | 28,200,000 | |
| Proceeds from sale of warrants | 57,600,000 | |
| Warrant conversion price | $ 71.34 | |
| Shares issued under warrants | 7.1 | |
| Warrants expected life | 4.9 | |
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0.50% Convertible Senior Notes Due 2016 | Convertible Note Hedge [Member]
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| Warrant conversion price | $ 71.34 | |
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1.25% Convertible Senior Notes Due 2018
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| Convertible senior notes principal amount of initial conversion price per share | 63.02 | |
| Principal amount of the liability component | 345,100,000 | |
| Discount rate on recognized principal amount value | 5.27% | |
| Effective interest rate on the liability component | 5.27% | |
| Remaining life for amortized bond discount | 103,200,000 | |
| Terms and conditions for holders convert notes |
Sold Warrants. The Company received $57.6 million from the same counterparties from the sale of warrants to purchase up to approximately 7.1 million shares of the Company's common stock at an exercise price of $71.34 per share. As of June 26, 2011, the warrants had an expected life of 4.9 years and expire between August 15, 2016 and October 21, 2016. At expiration, the Company may, at its option, elect to settle the warrants on a net share basis. As of June 26, 2011, the warrants had not been exercised and remained outstanding. The value of the warrants was initially recorded in equity and continues to be classified as equity. The 2018 Notes may be converted at any time prior to the close of business on the business day immediately preceding February 15, 2018, at the option of the holder only under the following circumstances: 1) during the five business-day period after any ten consecutive trading-day period (the "measurement period") in which the trading price per 1,000 principal amount of 2018 notes for each day of such measurement period was less than 98% of the product of the last reported sale price of the Company's common stock and the applicable conversion rate on each such trading day; 2) during any fiscal quarter commencing after the fiscal quarter ending September 25, 2011, if the last reported sale price of the Company's common stock for 20 or more trading days in a period of 30 consecutive trading days ending on the last trading day of the immediately preceding fiscal quarter is greater than or equal to 130% of the conversion price in effect on the last trading day of the immediately preceding fiscal quarter; or 3) upon the occurrence of specified corporate events. On and after February 15, 2018 until the close of business on the second scheduled trading day immediately preceding the maturity date of May 15, 2018, holders may convert their notes at any time, regardless of the foregoing circumstances. |
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| Percentage of principal amounts being repurchased | 100.00% | |
| Annual interest rate paid by cash semi-annually | 1.25% | |
| Debt issuance costs | 17,200,000 | |
| Debt issuance costs, allocated to capital in excess of par value | 3,500,000 | |
| Cost of convertible bond hedge | 104,900,000 | |
| Convertible bond hedge at inception of the transaction on stockholders equity | 38,800,000 | |
| Shares of common stock agreed to sell | 7.1 | |
| Proceeds from sale of warrants | $ 76,300,000 | |
| Warrant conversion price | $ 76.10 | |
| Shares issued under warrants | 7.1 | |
| Warrants expected life | 6.9 | |
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1.25% Convertible Senior Notes Due 2018 | Convertible Note Hedge [Member]
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| Warrant conversion price | $ 76.10 |