Off balance sheet arrangements as defined by the SEC means any transaction, agreement or other contractual arrangement to  which an entity unconsolidated with the registrant is a party, under which the registrant has: obligations under certain guarantees  or contracts; retained or contingent interest in assets transferred to an unconsolidated entity or similar arrangements; obligations  under certain derivative arrangements; and obligations arising out of a material variable interest in an unconsolidated entity. As of  December 31, 2010, we do not have any material off balance sheet arrangements.  We are exposed to market risk from changes in interest rates. At times we enter into derivative instruments primarily for the  purpose of reducing the impact of changing interest rates on our floating rate debt and to reduce the impact of changing fair  market values on our fixed rate debt. See  Note 8. Derivative Instruments  and  Note 5. Notes Payable and Commercial Bank Financing,  in  the Notes to our Consolidated Financial Statements.  On August 19, 2010, we entered into an amendment of our Bank Credit Agreement. Under the Amendment, we paid down  $35.0 million of the outstanding $305.0 million balance under the Term Loan B and repriced the remaining $270.0 million  outstanding. As of December 31, 2010, we had $270.0 million outstanding under our Term Loan B and no amount drawn on our  Revolving Credit Facility. The Term Loan B will initially bear interest at LIBOR plus 4.0% with a 1.5% LIBOR floor. Any  outstanding amounts accrue interest with a variable rate and therefore increases our risk to increases from interest rates. During  2010, the three-month LIBOR rate slightly increased. We are exposed to risk from a change in interest rates to the extent we are required to refinance existing fixed rate indebtedness  at rates higher than those prevailing at the time the existing indebtedness was incurred. The fair value of the 4.875% Notes, 3.0%  Notes, 6.0% Notes, 8.375% Notes and 9.25% Notes combined was $884.9 million as of December 31, 2010. We estimate that  adding 1.0% to prevailing interest rates would result in a decrease in fair value of these notes by $42.3 million as of December 31,  2010. Generally, the fair market value of these notes will decrease as interest rates rise and increase as interest rates fall. Under certain circumstances, we have contingent cash interest features related to the 3.0% Notes and the 4.875% Notes. The  contingent cash interest feature for both issuances were embedded derivatives which have negligible fair values. Our management, under the supervision and with the participation of our Chief Executive Officer and Chief Financial Officer,  evaluated the design and effectiveness of our disclosure controls and procedures and our internal control over financial reporting  as of December 31, 2010. The term “disclosure controls and procedures,” as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act, means  controls and other procedures of a company that are designed to provide reasonable assurance that information required to be  disclosed by a company in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and  reported, within the time periods specified in the SEC’s rules and forms. Disclosure controls and procedures include, without  limitation, controls and procedures designed to provide reasonable assurance that information required to be disclosed by a  company in the reports that it files or submits under the Exchange Act is accumulated and communicated to the company’s  management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding  required disclosure. Management recognizes that any controls and procedures, no matter how well designed and operated, can  provide only reasonable assurance of achieving their objectives and management necessarily applies its judgment in evaluating the  cost-benefit relationship of possible controls and procedures. CONTROLS AND PROCEDURES   Evaluation of Disclosure Controls and Procedures and Internal Control over Financial  Reporting  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK  Off Balance Sheet Arrangements  2010 Annual Report    23 