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Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2012

Fair Value Measurement [Abstract]

Assets and liabilities measured at fair value by hierarchy level


		Fair Value at June 30, 2012
*(Amounts in thousands)*		Level 1				Level 2				Level 3				Total
Financial assets:
Available-for-sale investments (substantially restricted):
United States government agencies		$	—			$	8,970			$	—			$	8,970
Residential mortgage-backed securities - agencies			—				49,614				—				49,614
Other asset-backed securities			—				—				26,697				26,697
Investment related to deferred compensation trust			8,327				—				—				8,327
Forward contracts			—				1,423				—				1,423

Total financial assets		$	8,327			$	60,007			$	26,697			$	95,031

Financial liabilities:

Forward contracts		$	—			$	214			$	—			$	214


		Fair Value at December 31, 2011
*(Amounts in thousands)*		Level 1				Level 2				Level 3				Total
Financial assets:
Available-for-sale investments (substantially restricted):
United States government agencies		$	—			$	8,827			$	—			$	8,827
Residential mortgage-backed securities - agencies			—				69,712				—				69,712
Other asset-backed securities			—				—				24,232				24,232
Investment related to deferred compensation trust			8,118				—				—				8,118
Forward contracts			—				399				—				399

Total financial assets		$	8,118			$	78,938			$	24,232			$	111,288

Financial liabilities:

Forward contracts		$	—			$	46			$	—			$	46

Summary of unobservable inputs used in other asset-backed securities classified as Level 3


						June 30, 2012								December 31, 2011
*(Amounts in thousands)*		Unobservable Input		Pricing Source		Market Value				Net Average Price				Market Value				Net Average Price
Alt-A		Price		Third-party pricing service		$	151			$	12.90			$	210			$	14.57
Home Equity		Price		Third-party pricing service			199				39.99				185				23.35
Bank Loans and Trust Preferred		Price		Broker			5				0.01				4				0.01
Direct Exposure to Subprime		Price		Third-party pricing service			38				0.89				61				0.86
Indirect Exposure - High Grade		Discount margin		Manual			3,849				3.2				3,776				3.14
Indirect Exposure - Mezzanine		Price		Broker			15,671				6.95				13,010				5.63
Other		Discount margin		Manual			6,784				36.41				6,986				37.5

Total						$	26,697			$	6.16			$	24,232			$	5.49

Roll-forward of Other asset-backed securities


		Three Months Ended June 30,								Six Months Ended June 30,
*(Amounts in thousands)*		2012				2011				2012				2011
Beginning balance		$	25,397			$	26,340			$	24,232			$	23,710
Principal paydowns			(70	)			(94	)			(134	)			(504	)
Other-than-temporary impairments			—				(4	)			—				(4	)
Unrealized gains - instruments still held at the reporting date			1,657				5,436				3,707				9,529
Unrealized losses - instruments still held at the reporting date			(287	)			(2,004	)			(1,108	)			(3,057	)

Ending balance		$	26,697			$	29,674			$	26,697			$	29,674

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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