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INVESTMENTS (Tables)
 12 Months Ended
Dec. 31, 2012
Investments, Debt and Equity Securities [Abstract]  
Schedule of short-term and long-term investments, by security type
The amortized cost, gross unrealized gain or loss and estimated fair value of short-term and long-term investments by security type were as follows at December 31, 2012 and 2011 (in thousands): 
 
Amortized
Cost
 
Unrealized
Gain
 
Unrealized
Loss
 
Fair
Value
As of December 31, 2012
 
 
 
 
 
 
 
State and municipal bonds
$
1,176,016

 
$
78,272

 
$
(499
)
 
$
1,253,789

U.S. Treasury securities
78,264

 
669

 
(2
)
 
78,931

Government-sponsored enterprise securities (1)
72,394

 
1,139

 
(1
)
 
73,532

Residential mortgage-backed securities (2)
302,012

 
10,703

 
(74
)
 
312,641

Commercial mortgage-backed securities
21,416

 
193

 
(19
)
 
21,590

Asset-backed securities (3)
23,421

 
211

 
(6
)
 
23,626

Corporate debt and other securities
971,230

 
20,726

 
(346
)
 
991,610

 
$
2,644,753

 
$
111,913

 
$
(947
)
 
$
2,755,719

Equity method investments (4)
 

 
 

 
 

 
24,605

 
 

 
 

 
 

 
$
2,780,324

 
 
Amortized
Cost
 
Unrealized
Gain
 
Unrealized
Loss
 
Fair
Value
As of December 31, 2011
 

 
 

 
 

 
 

State and municipal bonds
$
970,746

 
$
62,215

 
$
(7
)
 
$
1,032,954

U.S. Treasury securities
88,934

 
2,410

 
(4
)
 
91,340

Government-sponsored enterprise securities (1)
140,595

 
2,694

 
(11
)
 
143,278

Residential mortgage-backed securities (2)
354,713

 
14,097

 
(12
)
 
368,798

Commercial mortgage-backed securities
13,801

 
1,024

 
—

 
14,825

Asset-backed securities (3)
12,840

 
664

 
—

 
13,504

Corporate debt and other securities
1,051,874

 
23,804

 
(10,178
)
 
1,065,500

 
$
2,633,503

 
$
106,908

 
$
(10,212
)
 
$
2,730,199

Equity method investments (4)
 

 
 

 
 

 
21,315

 
 

 
 

 
 

 
$
2,751,514

 
(1) 
Includes FDIC-insured Temporary Liquidity Guarantee Program (“TLGP”) securities. As of December 31, 2012, the Company no longer held any TLGP securities.
(2) 
Includes Agency pass-through securities, with the timely payment of principal and interest guaranteed.
(3) 
Includes auto loans, credit card debt, and rate reduction bonds.
(4) 
Includes investments in entities accounted for under the equity method of accounting and therefore are presented at their carrying value.
Estimated fair value of available-for-sale debt securities, by contractual maturity
The amortized cost and estimated fair value of available for sale debt securities by contractual maturity were as follows at December 31, 2012 and 2011 (in thousands): 
 
As of December 31, 2012
 
As of December 31, 2011
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
Maturities:
 
 
 
 
 
 
 
Within 1 year
$
362,116

 
$
363,559

 
$
315,362

 
$
317,067

1 to 5 years
798,143

 
822,448

 
984,503

 
1,006,221

5 to 10 years
652,941

 
693,504

 
536,577

 
574,207

Over 10 years
831,553

 
876,208

 
797,061

 
832,704

Total
$
2,644,753

 
$
2,755,719

 
$
2,633,503

 
$
2,730,199
Schedule of unrealized loss on investments
The following table shows the Company’s investments’ gross unrealized losses and fair value at December 31, 2012 and December 31, 2011, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands). 
At December 31, 2012
Less than 12 months
 
12 months or more
 
Total
Description of Securities
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
State and municipal bonds
$
61,342

 
$
(499
)
 
$
—

 
$
—

 
$
61,342

 
$
(499
)
U.S. Treasury securities
2,458

 
(1
)
 
1,065

 
(1
)
 
3,523

 
(2
)
Government sponsored enterprises
15,714

 
(1
)
 
—

 
—

 
15,714

 
(1
)
Residential mortgage-backed securities
23,861

 
(73
)
 
59

 
(1
)
 
23,920

 
(74
)
Commercial  mortgage-backed securities
7,701

 
(19
)
 
—

 
—

 
7,701

 
(19
)
Asset-backed securities
14,492

 
(6
)
 
—

 
—

 
14,492

 
(6
)
Corporate debt and other securities
79,381

 
(345
)
 
614

 
(1
)
 
79,995

 
(346
)
Total
$
204,949

 
$
(944
)
 
$
1,738

 
$
(3
)
 
$
206,687

 
$
(947
)
At December 31, 2011
Less than 12 months
 
12 months or more
 
Total
Description of Securities
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
State and municipal bonds
$
9,436

 
$
(7
)
 
$
—

 
$
—

 
$
9,436

 
$
(7
)
U.S. Treasury securities
4,932

 
(4
)
 
—

 
—

 
4,932

 
(4
)
Government sponsored enterprises
12,495

 
(11
)
 
—

 
—

 
12,495

 
(11
)
Residential mortgage-backed  securities
5,127

 
(11
)
 
43

 
(1
)
 
5,170

 
(12
)
Commercial  mortgage-backed securities
—

 
—

 
—

 
—

 
—

 
—

Asset-backed securities
—

 
—

 
—

 
—

 
—

 
—

Corporate debt and other securities
350,294

 
(10,178
)
 
—

 
—

 
350,294

 
(10,178
)
Total
$
382,284

 
$
(10,211
)
 
$
43

 
$
(1
)
 
$
382,327

 
$
(10,212
)