. the company will record any changes in fair value to the liability in future periods to other expense and will amortize the discount to interest expense within its consolidated statement of operations . as of december 31 , 2008 and 2007 , the outstanding debt under the 3.00% ( 3.00 % ) notes was $ 161.9 million ( $ 162.2 million principal amount ) and $ 344.6 million , net of $ 0.3 million and $ 0.4 million discount , respectively