Question-and-Answer Session
Operator
Thank you. (Operator Instructions). And we'll begin with a question from the line of Anthony Paolone with JPMorgan. Please go ahead.
Anthony Paolone - JPMorgan
Thank you. Good morning. On the cost saving side, I was just trying to digest all of the numbers that you put out there. And maybe one way I was hoping you could help us with is as we look in to, at your operating, administrative and other expenses, where it seems like the vast majority of the cost savings are occurring, what do you think the first quarter might look like because if I take the 1.9 billion that you ran in 2007 and I think you mentioned taking about $385 million off of that number I believe, it would seem like the quarterly run rate would go down to something like in the high 300s, is that right?
Brett White
I'll let Gil answer that question. Go ahead, Gil.
Gil Borok
Okay. I think the best thing you can do because we haven't phased it or finalized the phasing... the best thing you can do is take it ratably the way it would have had slowed in '07 or even earlier, we made the comment that next year we'll look kind of like pre-2005. So, if you look at that phasing and try to model that way at this point, that's the best way to phase in the 385.
Anthony Paolone - JPMorgan
And when you say, pre-2005, I'm just not really clear as to... you mean it in terms of the way the quarters lay out or...?
Gil Borok
Yes, correct.
Anthony Paolone - JPMorgan
Okay. All right, okay, so, I will look at those then. Another question on your debt maturities, I think it's about 50 somewhat million a quarter in '09, a little bit more in 2010. Can you comment on how you intend to fund those, where you have enough free cash flow to do that?
Gil Borok
Sure. The combination of cash flow from operations and to the extent necessary if we have to borrow under the revolver to do so in the early part of the year, we've got the capacity to do that.
Anthony Paolone - JPMorgan
Okay. And also related to the debt. Could you comment on maybe the other sort of comparable amendments, you have seen occur out there like what that's meant to either rate or costs to make those amendments and so forth?
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