Filed pursuant to Rule 424(b)(3)
Registration No. 333-100481



 

PROSPECTUS SUPPLEMENT NO. 1 TO PROSPECTUS DATED FEBRUARY 10, 2003


 


 

$165,000,000


 

4.75% Convertible Senior Debentures, Series K, due 2032

and Shares of Common Stock Issuable upon Conversion of the Debentures
 
   

                This prospectus supplement relates to the resale by the selling securityholders listed below of our 4.75% Convertible Senior Debentures, Series K, due 2032 and shares of our common stock issuable upon conversion of the debentures. You should read this prospectus supplement together with the prospectus dated February 10, 2003, which is to be delivered with this prospectus supplement.

                                                       

                Investing in our debentures or shares of our common stock involves risks. See "Risk Factors" beginning on page 9 of the prospectus.

                                                       

                Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if the prospectus, as supplemented, is truthful or complete. Any representation to the contrary is a criminal offense.

                                                         
 

The date of this prospectus supplement is March 17, 2003.


 



 

SELLING SECURITYHOLDERS
 

                The information in the table below updates and supersedes the information appearing in the table in the section entitled "Selling Securityholders" beginning on page 39 of the prospectus.

 

Name

Aggregate

Principal Amount of

Debentures that May be Sold

Percentage of

Debentures Outstanding

Number of Shares of

Common Stock

Covered by the

 

Prospectus(1)

 
           

Advisory Convertible

Arbitrage Fund (I) L.P.

$1,000,000

  

*

  

24,718

  
             

Allstate Life Insurance

Company

$2,000,000

  

1

..2%

49,437

  
             

American Fidelity

Assurance Company

$350,000

  

*

  

8,651

  
             

Amerisure Mutual

Insurance Co.

$485,000

  

 

*

  

11,988

  
             

Attorney’s Title Insurance

Fund

$50,000

  

 

*

  

1,235

  
             

Aventis Pension Master

Trust

$125,000

  

*

  

3,089

  
             

Banc of America Securities

LLC

$3,527,000

  

2

..1%

87,183

  
             

Bank Austria Cayman

Islands, Ltd.

 

$2,380,000

  

1

..4%

58,830

  
             

Boilermaker - Blacksmith

Pension Trust

$565,000

  

*

  

13,966

  
             

CC Investments, LDC

$2,000,000

  

1

.2%

49,437

  
             

CareFirst Blue Choice, Inc.

$125,000

  

*

  

3,089

  
             

CareFirst of Maryland, Inc.

$350,000

  

*

  

8,651

  
             

City of Birmingham

Retirement & Relief

System

 

$475,000

  

 

*

  

 

11,741

  
             

City of Knoxville Pension

System

$175,000

  

*

  

4,325

  
             

Clinton Convertible

Managed Tracking

Account 1 Limited

 

$250,000

  

 

*

  

 

6,179

  



 

S-2

 



 

Name

Aggregate

Principal Amount of

Debentures that May be Sold

Percentage of

Debentures Outstanding

Number of Shares of

Common Stock

Covered by the

 

Prospectus(1)

 
       

Clinton Riverside

Convertible Portfolio

Limited

 

$1,375,000

  

 

*

  

 

33,988

  
             

Clinton Multistrategy

Master Fund, Ltd.

$1,375,000

  

*

  

33,988

  
             

Convertible Securities Fund

$100,000

  

*

  

2,471

  
             

D. E. Shaw Investment

Group, L.P.

$500,000

  

*

  

12,359

  
             

D. E. Shaw Valence

Portfolios, L.P.

$2,000,000

  

1

..2%

49,437

  
             

Delta Pilots Disability and Survivorship Trust

$225,000

  

*

  

5,561

  
             

Dorinco Reinsurance

Company

$325,000

  

*

  

8,033

  
             

Freestate Health Plan, Inc.

$75,000

  

*

  

1,853

  
             

Genesee County

Employees’ Retirement

System

 

$250,000

  

 

*

  

 

6,179

  
             

Goldman, Sachs & Co.

Profit Sharing Master Trust

$51,000

  

*

  

1,260

  
             

Greek Catholic Union of

the USA

$100,000

  

*

  

2,471

  
             

Group Hospitalization and Medical Services, Inc.

$400,000

  

*

  

9,887

  
             

HFR CA Select Fund

$600,000

  

*

  

14,831

  
             

HSBC Trustee, Zola

Managed Trust

$725,000

  

*

  

17,921

  
             

HealthNow New York, Inc.

$100,000

  

*

  

2,471

  
             

Highbridge International

LLC

$20,350,000

  

12

..3%

503,027

  
             

Innovest Finanzdientle

$1,000,000

  

*

  

24,718

  
             

Innovest

Finanzdienstleinstungs AG

$600,000

  

*

  

14,831

  



 

S-3




 

Name

Aggregate

Principal Amount of

Debentures that May be Sold

Percentage of

Debentures Outstanding

Number of Shares of

Common Stock

Covered by the

 

Prospectus(1)

 
             

JMG Capital Partners, LP

$750,000

  

*

  

18,539

  
             

JMG Triton Offshore Fund,

Ltd.

$750,000

  

*

  

18,539

  
             

J.P. Morgan Securities, Inc.

$2,124,000

  

1

..3%

52,502

  
             

Jackson County

Employees’ Retirement

System

 

$100,000

  

 

*

  

 

2,471

  
             

KBC Financial Products

USA Inc.

$451,000

  

*

  

11,148

  
             

KBC Financial Products

(Cayman Island) Limited

$7,000,000

  

4

..2%

173,031

  
             

Knoxville Utilities Board Retirement System

$80,000

  

*

  

1,977

  
             

Lyxor Master Fund,

c/o Zola Capital

Management

 

$1,525,000

  

 

*

  

 

37,696

  
             

MFS Total Return Fund

$2,495,000

  

1

 .5%

61,673

  
             

MFS/Sun Life Mid Cap

Value Fund

$3,000

  

*

  

74

  
             

Macomb County

Employees’ Retirement

System

 

$155,000

  

 

*

  

 

3,831

  
             

McMahan Securities Co.

L.P.

$1,350,000

  

*

  

33,370

  
             

Man Convertible Bond

Master Fund, Ltd.

$3,463,000

  

2

 ..1%

85,601

  
             

Morgan Stanley Dean

Witter Convertible

Securities Trust

 

$2,500,000

  

 

1

 ..4%

 

61,797

  
             

Nations Convertible

Securities Fund

 

$2,900,000

  

1

 ..8%

71,684

  
             

NACM Investment Grade Convertible

$15,000

  

 

*

  

370

  
             

NORCAL Mutual

Insurance Company

$200,000

  

*

  

4,943

  



 

S-4



 

Name

Aggregate

Principal Amount of

Debentures that May be Sold

Percentage of

Debentures Outstanding

Number of Shares of

Common Stock

Covered by the

Prospectus(1)

             

OZ Convertible Master

und, Ltd.

$197,000

  

*

  

4,869

  
             

OZ Mac 13 Ltd.

$51,000

  

*

  

1,260

  
             

OZ Master Fund, Ltd.

$2,701,000

  

1

 .6%

66,765

  
             

Physicians’ Reciprocal

Insurers Account #7

$600,000

  

*

  

14,831

  
             

RAM Trading Ltd.

$8,500,000

  

5

 .1%

210,109

  
             

RCG Baldwin, LP

$518,000

  

*

  

12,804

  
             

RCG Halifax Master

Fund, Ltd.

$1,238,000

  

*

  

30,601

  
             

RCG Latitude Master Fund, Ltd.

$2,587,000

  

1

 ..5%

63,947

  
             

RCG Multi Strategy A/C

LP

$3,105,000

  

1

 ..8%

76,751

  
             

Ramius LP

$207,000

  

*

  

5,116

  
             

SEI Private Trust Company

$225,000

  

*

  

5,561

  
             

SG Cowen Securities -

Convertible Arbitrage

$5,000,000

  

3

 .0%

123,594

  
             

St. Thomas Trading, Ltd.

$5,537,000

  

3

 .4%

136,867

  
             

San Diego County

Employees Retirement Association

 

$1,750,000

  

 

1

 ..1%

 

43,257

  
             

Southern Farm Bureau Life Insurance

$300,000

  

*

  

7,415

  
             

Sterling Investment Co.

$1,000,000

  

*

  

24,718

  
             

Sunrise Partners Limited Partnership

$2,000,000

  

1

 ..2%

49,437

  
             

The Cockrell Foundation

$50,000

  

*

  

1,235

  
             

The Dow Chemical

Company Employees’

Retirement Plan

 

$1,100,000

  

 

*

  

 

27,190

  
             

The Fondren Foundation

$200,000

  

*

  

4,943

  



 

S-5



 

Name

Aggregate

Principal Amount of

Debentures that May be Sold

Percentage of

Debentures Outstanding

Number of Shares of

Common Stock

Covered by the

 

Prospectus(1)

 

UBS AG London Branch

$50,000,000

30

.3%

1,235,940

United Food and

Commercial Workers

Local 1262 and Employers Pension Fund

 

 

$225,000

  

 

 

*

  

 

 

5,561

  

Xavex Convertible

Arbitage #5

$315,000

*

7,786

Zazove Hedged

Convertible Fund L.P.

$2,500,000

  

1

 ..5%

61,797

  

Zazove Income Fund L.P.

$2,000,000

1

 .2%

49,437

Zola Partners, L.P.

$4,750,000

2

 .9%

117,414

Zurich Institutional

Benchmarks Master Fund

Ltd.

 

$2,500,000

  

 

1

 ..5%

 

61,797

  

Unnamed holders of

debentures or any future transferees, pledgees,

donees or successors of any

such unnamed holders (2)

 

$                  0

 

 

    0

%

 

              0

 

Total:

$165,000,000

(3)

100

%

4,078,602

 

                                               
 

*

Less than 1%

 

 

(1)  

Assumes conversion of all of the holders’ debentures at a conversion rate of $40.455 per share of common stock. This conversion rate is subject to adjustment as described under "Description of Debentures – Conversion Rights - Adjustments to Conversion Rate" in the prospectus. As a result, the amount of common stock issuable upon conversion of the debentures may increase or decrease in the future.

  

  

(2)  

Specific information about these holders will be set forth in supplements or amendments to the prospectus, if required.

  

  

(3)  

The total principal amount of debentures at maturity listed above is more than $165,000,000 because certain of the above-listed selling securityholders may have, without notifying us, transferred debentures or otherwise reduced their position pursuant to transactions exempt from the registration requirements of the Securities Act of 1933, as amended ("Securities Act"). The maximum amount at maturity of debentures that may be sold under the prospectus, as supplemented, will not exceed $165,000,000.

 

                                                     

 

                The principal amounts of the debentures provided in the table above are based on information provided to us by the selling securityholders at various dates through March 14, 2003. Since the date on which each selling securityholder provided the information above, such selling securityholder may have sold, transferred or otherwise disposed of all or a portion or its debentures in a transaction exempt from the registration requirements of the Securities Act.


 

*     *     *     *     *     *

S-6