FAIR VALUE MEASUREMENTS

12 Months Ended

Dec. 31, 2012

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS

NOTE 16—FAIR VALUE MEASUREMENTS

        Our non-financial assets, such as goodwill, intangible assets and property and equipment are measured at fair value when there is an indicator of impairment, and recorded at fair value only when an impairment charge is recognized. See Note 4 for discussion of goodwill and intangible asset impairment charges.

        The following disclosures represent financial instruments in which the ending balances at December 31, 2012 and 2011 are not carried at fair value in their entirety on our consolidated balance sheets. The additional disclosure below of the estimated fair value of financial instruments has been determined by us using available market information and appropriate valuation methodologies. However, considerable judgment is necessarily required to interpret market data to develop the estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts that could be realized in a current market exchange. The use of different market assumptions or estimation methodologies may have a material impact on the estimated fair value amounts. Our financial instruments also include letters of credit and surety bonds, for which we had $6.5 million and $6.5 million in restricted cash at December 31, 2012 and 2011, respectively, as collateral for the surety bonds. These commitments remain in place to facilitate certain of our commercial operations.

	December 31, 2012						December 31, 2011
	Carrying Amount			Fair Value			Carrying Amount			Fair Value
Cash and cash equivalents	$	80,190		$	80,190		$	45,541		$	45,541
Restricted cash and cash equivalents		29,414			29,414			12,451			12,451
Accounts receivable, net		11,488			11,488			5,474			5,474
Accounts payable		(2,741	)		(2,741	)		(9,072	)		(9,072	)
Accrued expenses		(19,960	)		(19,960	)		(16,712	)		(16,712	)
Surety bonds		—			(5,435	)		—			(5,487	)

        The carrying amounts of cash and cash equivalents and restricted cash and cash equivalents reflected in the accompanying consolidated balance sheets approximate fair value, as they are maintained with various high-quality financial institutions or in short-term duration high-quality debt securities. Accounts receivable, net, are short-term in nature and are generally settled shortly after the sale and, therefore, the carrying amount approximates fair value. The carrying amounts for all other financial instruments approximate their fair value.