Now, moving to the balance sheet, in terms of cash, we ended the third quarter with $291 million of cash and equivalents. In addition, during the third quarter, the company entered into separately negotiated agreements with certain holders of 4.75% convertible senior notes in which such holders agreed to exchange approximately $37 million in aggregate principal amount of the notes for the 4.2 million shares of the company’s stock and to which the notes were convertible.
The holders also received $1.5 million, which are recorded debt exchange expense in the third quarter. Now importantly, this amount is significantly less than what we owed in future interest expense on the exchange bonds had those notes remained outstanding. In total of the original $400 million principal balance of these notes, we have now completed separately negotiated exchanges of approximately $181 million of the notes in 2013.