Note 11 - Gain from Retirement of
Debt
In April, May and November 2000, the Company purchased $22,799,000 principal
amount of its outstanding Senior Notes at a cost of $22,107,000. The net
gain from the purchase was $496,000, after giving effect to income taxes
and amortization of related deferred loan costs.
In April, October and November 1999, the Company purchased $40,000,000 principal
amount of its outstanding Senior Notes at a cost of $35,400,000. The net
gain from the purchase was $4,200,000, after giving effect to income taxes
and amortization of related deferred loan costs.
In June and October 1998, the Company purchased $40,000,000 principal amount
of its outstanding Senior Notes at a cost of $36,260,000. The net gain resulting
from the purchase, after giving effect to income taxes and amortization
of related deferred loan costs, was $2,741,000.
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Notes
to Consolidated Financial Statements
