Fair Value Disclosures (Tables)

6 Months Ended

Jun. 30, 2012

Financial Instruments Measured at Fair Value on Recurring Basis

The financial instruments measured at fair value on a recurring basis were as follows:

	June 30, 2012
Description	Level 1		Level 2		Level 3		Total
	(In thousands)
Debt securities	$	12,092	$	4,485	$	12,436	$	29,013
Equity securities		0		12		0		12
Total investments	$	12,092	$	4,497	$	12,436	$	29,025

	December 31, 2011
Description	Level 1		Level 2		Level 3		Total
	(In thousands)
Debt securities	$	17,186	$	4,727	$	10,504	$	32,417
Equity securities		0		11		0		11
Total investments	$	17,186	$	4,738	$	10,504	$	32,428

Unobservable Inputs Used in Valuation of Level 3 Financial Instruments

At June 30, 2012, the unobservable inputs used in the valuation of Level 3 financial instruments were as follows:

	Fair Value		Valuation Technique	Unobservable Input	Range (Weighted Average)
				Constant prepayment rate		15% - 20% (18%)
Private debt obligations	$	12,436	Discounted cash flow	Probability of default		2% (2%)
				Recovery rate		50% - 70% (60%)

Summary of Changes in Fair Value of Level 3 Financial Instruments

At June 30, 2012, the summary of changes in fair value of Level 3 financial instruments was as follows:

	Private Debt Obligations
	(In thousands)
Fair value at December 31, 2011	$	10,504
Unrealized gains, included in other comprehensive loss		1,932
Fair value at June 30, 2012	$	12,436

Net Book Values and Estimated Fair Values of Notes Payable

At June 30, 2012 and December 31, 2011, as required by ASC 825, Financial Instruments, the following presents net book values and estimated fair values of notes payable.

	June 30, 2012				December 31, 2011
	Net Book Value		Estimated Fair Value		Net Book Value		Estimated Fair Value
	(In thousands)
$750,000 senior secured notes	$	750,000	$	785,625	$	750,000	$	697,500
Secured promissory notes	$	1,700	$	1,700	$	2,056	$	2,056