Investments

6 Months Ended

Jun. 30, 2012

Investments [Abstract]

Investments

3.Investments

Short-term and long-term investments at June 30, 2012 and December 31, 2011 are comprised of municipal bonds with varying maturities and credit risk ratings of A1 and VMIG 1 or greater by various rating agencies. Investments are recorded at fair value based on current market rates and are classified as available-for-sale securities. The current yield on the Company’s municipal bonds at June 30, 2012 was 5.1%. Available-for-sale securities are reported at fair value with changes in the related unrealized gains and losses included in comprehensive (loss) income in the accompanying consolidated financial statements. The cost of securities is determined based on the specific identification method. At June 30, 2012 the cost of the available-for-sale securities approximated their fair value.