Crucial 2014 Annual Report Download - page 43

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41
• Repurchases: Repurchased $320 million in aggregate principal amount of our 2031B Notes, 2032C Notes and
2032D Notes in privately-negotiated transactions for an aggregate of $857 million in cash.
• Issuances: Issued $600 million in principal amount of 5.875% senior notes due February 2022 and $1.15 billion
in principal amount of 5.500% senior notes due February 2025. Issued $462 million in principal amount of
1.258% senior notes due 2019 Notes, payable in 10 semi-annual installments commencing in July 2014.
• Early Repayments: Repaid $334 million of notes and capital leases prior to their scheduled maturities.
Subsequent to 2014, we settled an aggregate principal amount of $114 million of our remaining 2031B Notes for $389
million and repaid a $120 million note prior to its scheduled maturity.
Available Credit Facilities: As of August 28, 2014, we had credit facilities available that provide for up to $408 million of
additional financing, subject to outstanding balances of trade receivables and other conditions.
(See "Item 8. Financial Statements and Supplementary Data – Notes to Consolidated Financial Statements – Debt" note.)
Potential Settlement Obligations of Convertible Notes
Since the closing price of our common stock for at least 20 trading days in the 30 trading day periods ended on June 30,
2014 and September 30, 2014 exceeded 130% of the initial conversion price per share of our 2032 Notes and 2033 Notes,
holders of those notes have the right to convert their notes at any time through December 31, 2014. For our convertible notes,
we have: (1) the requirement to pay cash for the principal amount and the option to pay either cash, shares of our common stock
or any combination thereof for any remaining conversion obligation, or (2) the option to pay cash, issue shares of common
stock or any combination thereof for the aggregate amount due upon conversion.
The following table summarizes the potential settlements, as of August 28, 2014, that we could be required to make if all
holders converted their 2032 Notes and 2033 Notes:
Initial
Conversion
Price Per
Share
Settlement
Option for
Principal
Amount Outstanding
Principal
If Settled With Minimum
Cash Required(1) If Settled Entirely
With Cash(2)
Cash Remainder
in Shares Cash
2032C Notes $ 9.63 Cash and/or shares $ 362 $ — 38 $ 1,235
2032D Notes 9.98 Cash and/or shares 344 — 34 1,129
2033E Notes 10.93 Cash 300 300 18 900
2033F Notes 10.93 Cash 300 300 18 900
$ 1,306 $ 600 108 $ 4,164
(1) We are required to settle the principal amount of the 2033 Notes in cash. The remaining conversion obligation paid in
shares is based on our closing share price of $32.81 as of August 28, 2014.
(2) Based on our closing share price of $32.81 as of August 28, 2014. Assumes we elect cash settlement for the entire
obligation.