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INVESTMENTS (Tables)
 3 Months Ended
Mar. 31, 2013
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 as of March 31, 2013 and December 31, 2012 (in thousands): 
 
Amortized
Cost
 
Unrealized
Gain
 
Unrealized
Loss
 
Fair
Value
As of March 31, 2013
 
 
 
 
 
 
 
State and municipal bonds
$
1,120,913

 
$
66,748

 
$
(726
)
 
$
1,186,935

U.S. Treasury securities
114,448

 
577

 
(1
)
 
115,024

Government-sponsored enterprise securities
79,039

 
248

 
(2
)
 
79,285

Residential mortgage-backed securities (1)
328,940

 
9,051

 
(793
)
 
337,198

Commercial mortgage-backed securities
33,938

 
80

 
(126
)
 
33,892

Asset-backed securities (2)
22,226

 
356

 
(10
)
 
22,572

Corporate debt and other securities
1,022,287

 
13,284

 
(559
)
 
1,035,012

 
$
2,721,791

 
$
90,344

 
$
(2,217
)
 
$
2,809,918

Equity method investments (3)
 

 
 

 
 

 
24,118

 
 

 
 

 
 

 
$
2,834,036

 
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 
72,394

 
1,139

 
(1
)
 
73,532

Residential mortgage-backed securities (1)
302,012

 
10,703

 
(74
)
 
312,641

Commercial mortgage-backed securities
21,416

 
193

 
(19
)
 
21,590

Asset-backed securities (2)
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 (3)
 

 
 

 
 

 
24,605

 
 

 
 

 
 

 
$
2,780,324


(1) 
Includes Agency pass-through securities, with the timely payment of principal and interest guaranteed.
(2) 
Includes auto loans, credit card debt, and rate reduction bonds.
(3) 
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 as of March 31, 2013 and December 31, 2012 (in thousands): 
 
As of March 31, 2013
 
As of December 31, 2012
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
Maturities:
 
 
 
 
 
 
 
Within 1 year
$
468,436

 
$
470,166

 
$
362,116

 
$
363,559

1 to 5 years
725,945

 
747,376

 
798,143

 
822,448

5 to 10 years
711,930

 
745,058

 
652,941

 
693,504

Over 10 years
815,480

 
847,318

 
831,553

 
876,208

Total
$
2,721,791

 
$
2,809,918

 
$
2,644,753

 
$
2,755,719

 
Schedule of unrealized loss on investments
The following table shows the Company’s investments’ gross unrealized losses and fair value at March 31, 2013 and December 31, 2012, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands): 
 
Less than 12 months
 
12 months or more
 
Total
At March 31, 2013
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
State and municipal bonds
$
110,627

 
$
(725
)
 
$
102

 
$
(1
)
 
$
110,729

 
$
(726
)
U.S. Treasury securities
1,774

 
(1
)
 
—

 
—

 
1,774

 
(1
)
Government-sponsored enterprise securities
11,786

 
(2
)
 
—

 
—

 
11,786

 
(2
)
Residential mortgage-backed securities
120,987

 
(792
)
 
60

 
(1
)
 
121,047

 
(793
)
Commercial  mortgage-backed securities
21,456

 
(126
)
 
—

 
—

 
21,456

 
(126
)
Asset-backed securities
13,988

 
(10
)
 
—

 
—

 
13,988

 
(10
)
Corporate debt and other securities
94,947

 
(557
)
 
52

 
(2
)
 
94,999

 
(559
)
Total
$
375,565

 
$
(2,213
)
 
$
214

 
$
(4
)
 
$
375,779

 
$
(2,217
)
 
Less than 12 months
 
12 months or more
 
Total
At December 31, 2012
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 enterprise securities
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
)